TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Dow 20,000 Remains Elusive; Deutsche Bank and Credit Suisse Settle With DoJ
    U.S. stocks moved slightly lower Friday in a quiet trading session, as the Dow Jones Industrial Average's march to 20,000 stalled. Plus, Deutsche Bank agreeing to a $7.2 billion settlement with the Department of Justice in relation to toxic mortgage related securities the bank sold leading up to the financial crisis. The government had initially asked for $14 billion, a number that may have forced the bank to raise fresh capital. Credit Suisse also announcing a $5.3 billion settlement with the Department of Justice stemming from mortgage securities sold prior to the financial crisis. Experts say the settlements mean the banks can move on and put these headwinds behind them.
    1 min
  • Berlin Christmas Market Terror Suspect Killed in Italian Shootout
    A shootout between Milan police and Berlin terror attack suspect ends in death of Anis Amri. Several news reports quote the Italian Interior Minister who said 'without a shadow of doubt' that police shot and killed the Berlin Christmas market attacker. The truck attack killed 12 people and injured 56. Lockheed Martin ( ) shares are falling as President elect Donald Trump drops a twitter bomb on the defense company. In the tweet, he mulls replacing Lockheed Martin's F-35 with a comparable Boeing ( ) F-18. Trump met this week with the heads of both defense companies about the cost of their programs. Deutsche Bank ( ) has agreed to a $7.2 billion settlement with U.S. regulators. This settlement relates to toxic mortgage backed securities. Credit Suisse has announced a similar deal, while Barclays is now under investigation too.
    2 min
  • Midday Report: Weight Watchers Enjoys Oprah Effect; Dow Retreats From 20,000 Milestone
    Stocks held lower, putting the Dow Jones Industrial Average further from its elusive 20,000 milestone. Walmart and Visa shares were the biggest drag on the blue-chip index. U.S. consumer spending slowed in November as personal incomes floundered. Both came in below consensus. Energy spending also tempered in November as the price of oil recovered. Weight Watchers got a bump from Oprah Winfrey. Winfrey, who owns a 10% stake, divulged a 40-pound weight loss using the program. Winfrey first announced her stake in October last year. ConAgra increased despite a drop in second-quarter profit and sales. Revenue declined 11% as the company focused on reducing its reliance on discounting. Adjusted earnings came in above estimates.
    2 min
  • Uber Relents in its Battle with California Over Self-driving Cars
    Uber halts a test program in San Francisco after the state revoked the registration of the vehicles involved. Uber had refused to apply for the $150 permit from the California Department of Motor Vehicles because the company said they weren't required if a human was also in the car. California maintained the tests were illegal. Bed Bath & Beyond (BBBY) posted a profit decline. The retailer says its online sales are growing but not by enough to offset slowing traffic at brick and mortar stores. Sales from digital channels grew over 20%, according to the company. Micron Technology (MU) posted its first revenue rise in 7 quarters. It says a stabilizing PC market boosted chip demand and pricing. Micron gets about 60% of its revenue from DRAM chips. Weekly initial jobless claims are due. Durable Goods order are out as is 3rd quarter Gross Domestic Product.
    2 min
  • Oil Inventories due and Could Help Push Dow Jones Past 20,000
    Oil price gains for December are already 10%, which would be the strongest performance in the final months of the year in 6 years. Oil prices are edging higher on an expected decline in U.S. crude oil inventories. A stockpile number could drive energy companies higher and perhaps lead the Dow Jones Industrial Average to cross the 20,000 milestone. Nike's ( ) profit rose on strong sales in the United States and China. The sports apparel retailer also sees basketball demand coming back. The company's revenue was up 6% to a better than expected $8.2 billion in quarter. The Amazon ( ) Echo and Dot are both sold out. The next batch of the larger Echos won't arrive until January. The dot is expected to be back in stock sometime next week. Amazon has offered deep discounts on the devices at a significant discount since late November.
    2 min
  • Closing Bell: Credit Suisse Close to DoJ Settlement; Dow Fails to Capture 20,000
    The Dow Jones Industrial Average hovered agonizingly close to its historic 20,000 level, though failed to gather the last bit of momentum to top the milestone. The blue-chip index is roughly 40 points from that level. Carnival reported a better-than-expected fourth quarter, a positive development after a waste-dumping scandal earlier in the month. The cruiseliner reported sales growth of more than 6% over its recent quarter. AMC has settled with the Justice Department, a crucial final hurdle before it could complete its acquisition of Carmike Cinemas . AMC is required to divest from locations in 15 markets before the deal can be finalized. Credit Suisse is reportedly close to settling an investigation into the sale of toxic mortgage securities. The DoJ has requested the bank pay at least $5 billion to settle the charges.
    2 min
  • Midday Report: BlackBerry Shows Surprise Profit; Dow Closes in on 20,000
    The Dow Jones Industrial Average closed in on its 20,000 milestone after moving above its all-time closing highs. The blue-chip index previously hit the 19,000 mark just a month ago. BlackBerry led the telecom sector higher after posting surprise quarterly profit, a sign its turnaround plans have begun to gain traction. BlackBerry also upped its earnings outlook for 2017. Darden Restaurants reported a surge in second-quarter profit. Earnings nearly doubled while same-store sales rose 1.7%, 200 basis points above forecasts. Same-store sales at Olive Garden increased just over 2%. Salesforce was initiated with a BUY rating an $100 price target at Drexel Hamilton. Analysts said its move into the cloud would provide attractive growth over the next decade.
    2 min
  • Geopolitical Events Dominate Wall Street's Attention Today
    Overnight the Bank of Japan held interest rates steady and issued an upbeat view of the global economy. The Central Bank revised up its views on exports and output. There has been a string of positive economic data has bolstered sentiment surrounding the world's third largest economy. German Chancellor Angela Merkel spoke out this morning about the truck attack at a Christmas market in Berlin. She said it would be 'repugnant' if it was carried out by a refugee seeking a safe haven in Germany. German media is quoting security sources who say they believe the suspected driver of the lorry truck which plowed through the market, killing 15 people, is a 23 year old Pakistani asylum seeker. Facebook (FB) messenger now lets you video chat with up to 50 people. For the first 6 participants, the app will stream everyone's camera feed to a grid-like view. After 6, the dominant speaker will show on the screen.
    2 min
  • Stocks Inch Higher Ahead of Yellen Speech; Christine Lagarde Found Guilty in Negligence Case
    U.S. stocks kicked off a quiet trading week to the upside, as investors awaited remarks from Federal Reserve Chair Janet Yellen. Yellen is speaking at the University of Baltimore. These are her first remarks since announcing a rate hike at last week's Fed meeting. Yellen is expected to discuss the job market in the speech. A French court found International Monetary Fund Managing Director Christine Lagarde guilty in a negligence case, though she won't be receiving a sentence. The accusations came when Lagarde was finance minister in France. Under her tenure, a business tycoon received a 403 million euro payout. Lennar shares rose in premarket trading after reporting earnings of $1.34 a share, topping estimates of $1.28. Revenue gained 15% to $3.38 billion, eclipsing estimates of $3.3 billion. The company's CEO Stuart Miller is optimistic about the potential for stimulus and tax cuts from the incoming Trump administration. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Wall Street Looks Higher as it Enters Final Full Trading Week of 2016
    Some believe the stock market has moved too far, too fast this year and may not get a so-called Santa Claus rally in the last trading days of 2016. The Dow Jones Industrial has tried and failed in recent sessions to nail the psychologically important 20,000 level. This is the final, full trading week of 2016. Apple ( ) and Ireland are challenging the European Union tax ruling against the tech giant. Ireland says the E.U. overstepped its bounds in levying the tax. Apple says its being penalized due to its success. The E.U. says Apple had received illegal state aid in avoiding paying such taxes in Ireland. Disney's ( ) Star Wars:Rogue One brought in $155 million at the North American box office this weekend, a robust start that guarantees the first Star Wars 'story' will not be the last. The $155 million is the 3rd highest grossing domestic weekend opener of the year, behind Captain America: Civil War and Batman V Superman: Dawn of Justice.
    2 min

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