TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Stocks Open at Record Highs; Dollar Tree Beats Earnings Estimates
    U.S. stocks opened at fresh record highs on Tuesday, after the three major indices closed at record highs on Monday. Higher oil prices and optimism about President-elect Donald Trump's economic policies are pushing stocks to the upside. In other news, Dollar Tree reported mixed earnings for its most recent quarter. Earnings of $0.81 a share topped estimates of $0.78. Revenue of $5 billion rose 1.1% year-of-year but was slightly below estimates. Shares of Campbell Soup were in focus after reporting adjusted earnings of $1 a share, topping estimates of $0.95. Revenue of $2.2 billion was slightly ahead of forecasts. Finally, President-elect Donald Trump canceled his planned meeting with the New York Times , according to a tweet. He said the terms of the meeting were altered. The New York Times said they didn't know the meeting was off until they saw the tweet. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Facebook Climbs on Buyback Plan; S&P 500, Dow at Records
    Wall Street scored a trifecta of record closes as a crude oil rally gave stocks an across-the-board boost. The S&P 500, Dow Jones Industrial Average, and Nasdaq each scored their own record close. Facebook climbed after authorizing a new share buyback program worth $ 6 billion. The new repurchase plan will begin in the first quarter of next year. JPMorgan reiterated its OVERWEIGHT rating on those capital return plans. 'Harry Potter' spinoff Fantastic Beasts and Where to Find Them dominated the box office in its debut weekend. The film brought in $75 million in the U.S. and Canada for Time Warner's Warner Bros. studio. Abercrombie & Fitch was downgraded to UNDERPERFORM from SECTOR PERFORM at RBC Capital. Analysts said the retailer is seeing lower sales and facing higher international costs.
    2 min
  • Midday Report: 3M Drags on Dow After Downgrade; Crude Surges to Boost S&P 500
    Stocks climbed as investors pinned hopes on a production freeze agreement among members of OPEC. A surge in crude prices pushed the S&P 500 and Nasdaq to trade at intraday records. 3M was the worst performer on the Dow after Goldman Sachs downgraded its rating to SELL from NEUTRAL. Its price target was also reduced. Analysts pointed to expected weakness in its energy and electronics businesses as reason for the downgrade. Oracle agreed to acquire Web service company Dyn, the details of which were not disclosed. Dyn was victim of a massive Internet attack in October that affected popular sites including Twitter and Netflix. Australian company Boral agreed to buy construction materials maker Headwaters for a hefty premium. The purchase is a bet of President-elect Donald Trump's proposed infrastructure spending plans.
    2 min
  • Stocks Gain Steam as Oil Rises; Tyson Foods Shares Sink on Earnings
    U.S. stocks rose early Monday as investors parsed comments from oil officials in Iran and Iraq, hinting at a production cut at next week's OPEC meeting. Tyson Foods shares declined after reporting earnings of $0.96 a share, missing Wall Street's estimates of $1.16. Revenue of $9.16 billion also fell short of the $9.4 billion analysts had expected. Beef and chicken revenue saw steep declines. Its CEO Donnie Smith announced he would step down at the end of 2016. In deal news, Symantec has entered an agreement to acquire LifeLock for $2.3 billion, or $24 a share - a 16% premium to LifeLock's closing stock price Friday. Novartis shares declined after agreeing to purchase Selexys Pharmaceuticals, a company that manufactures blood diseases for $665 million. Back in 2012 Novartis acquired the option to purchase Selexys. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Oil is Hitting new Highs on Optimisim OPEC Will cut Production
    January Brent Crude oil is trading at 3 week highs. OPEC appears to be moving closer to reaching an agreement to cut output when it meets next week. Symantec ( ) is buying Lifelock for $2.3 billion. The deal includes 750 million in debt. The buyout will expand Symantec's consumer offerings, including in anti-virus software. Lifelock said it had 4.4 million members at the end of the most recent quarter. Walmart ( ) says it will kick off its Cyber Monday deals this Friday. The world's largest retailer wants to keep the momentum going through the entire Thanksgiving holiday weekend. Walmart says shoppers can find many items they wouldn't ever find in a Walmart store, including products from upscale fashion brand Michael Kors ( ). Anthem ( ) heads to court today to defend its $48 billion deal to buy Cigna ( ).
    2 min
  • Closing Bell: Yum! Authorizes $2 Billion in Buybacks; Retail Sinks Wall Street
    Wall Street ended with slight losses after a string of earnings disappointments from the retail sector. Gap reported a decline in sales for its seventh straight quarter, while Abercrombie & Fitch's third-quarter profit slumped 81%. Crude oil ended the day higher despite an increase in the number of active oil rigs in the U.S. Baker Hughes data has shown an increase in active rigs drilling for oil in 11 of the past 12 weeks. Nuance Communications rallied after swung to a profit in its recent quarter. The voice tech developer also beat fourth-quarter earnings and sales analysts' estimates. Yum! Brands climbed after authorizing another $2 billion in stock buybacks. The KFC and Taco Bell owner currently has $4.2 billion remaining in its share repurchase program.
    2 min
  • Midday Report: West Elm Drives Williams-Sonoma Sales; Crude Oil Falls
    Stocks moved lower in an unsettled session following a series of earnings disappointments from retailers. Crude oil also pulled markets lower as it tested its $45 support level. Abercrombie & Fitch tumbled after an 81% slump in third-quarter profit. The apparel retailer also reported a 6% drop in same-store sales, a sharper decline than analysts expected. Williams-Sonoma reported a mixed quarter and offered a downbeat outlook. The homewares chain saw a decline in comparable-brand sales at Pottery Barn, while sales at West Elm continued to outpace its other brands. Salesforce.com led the tech sector higher after guiding for better-than-expected sales in its fourth quarter. The cloud software developer also anticipates sales of more than $10 billion over the next fiscal year.
    2 min
  • Foot Locker and Abercrombie Disappoint Wall Street; Tesla Shareholders Approve SolarCity Deal
    U.S. stocks opened mixed early Friday as investors parsed earnings reports. Foot Locker shares moved lower after reporting mixed third quarter results. Earnings of $1.17 a share topped Wall Street's estimates by $0.07. Revenue rose 5.1% year over year to $1.89 billion, matching estimates. Same store sales growth of 4.7% also met expectations. Shares of Abercrombie & Fitch plunged after reporting third quarter earnings of $0.02 a share, missing Wall Street's estimates of $0.20. Same store sales, an important industry metric, declined 6%, while analysts had expected a 3.9% drop. Activist investor Bill Ackman is set to gain some additional powers at Chipotle . As of September, Ackman's Pershing Square Capital Management revealed a 9.9% stake in the burrito chain, but now Ackman is close to a settlement that would give him a voice in the boardroom, according to a report from the Wall Street Journal. Shares of Tesla slipped, but SolarCity shares gained steam after Tesla's shareholders voted to greenlight the planned merger. Some 85% of shareholders voted for the acquisition. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: First Solar Falls on Job Cuts; Crude Oil Makes Surprise Turnabout
    Wall Street made broad gains as investors traded on renewed certainty over an interest rate hike in December. In comments on Capitol Hill, Federal Reserve Chair Yellen suggested the economy was ready for a rate hike. Crude oil made a surprise turn to close lower after rallying earlier in the session. Earlier sentiment was positive after Saudi Energy Minister added to hopes of a production freeze agreement among OPEC members. OPEC will meet in Vienna at the end of the month. First Solar fell after detailing plans to cut more than one-quarter of its workforce. The energy company will lay off around 1,600 workers, which will result in at least $500 million in charges. Children's Place jumped after raising its outlook on the back of a solid first quarter. Expanding gross margins, growth in comparable-store sales and a tighter control of expenses contributed to higher estimates.
    2 min
  • Midday Report: Charges For Valeant Execs; S&P 500 Extend Gains
    The S&P 500 extended gains after comments from Federal Reserve Chair Janet Yellen reinforced the chances of a rate hike in December. Markets currently price in a 90% shot of a year-end hike. Valeant Pharmaceuticals slid after federal prosecutors leveled charges against a number of executives involved in kickbacks and fraud. A former executive at the drugmaker and former CEO at its pharmacy partner Philidor Rx Services were charged for their involvement in the scheme. Staples reported a drop in profit and revenue over its third quarter as same-store sales declined at a faster-than-expected pace. The stationery retailer's current-quarter adjusted earnings guidance also came in on the weak side. Microsoft rose after being upgraded to BUY from NEUTRAL at Goldman Sachs. The rating change was driven by a positive outlook for growth in its Azure cloud business.
    2 min

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