TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Closing Bell: Kate Spade Jumps as Investor Urges Sales; Dow Scores New Record
    The Dow Jones Industrial Average eked out slim gains to score a new record, though trading was shaky as a Trump-fueled rally lost steam. Treasury yields surged as bond prices fell, while the U.S. dollar increased against a basket of foreign currencies. Apple was a major drag on the Nasdaq on concerns over future iPhone sales. One of China's state-backed newspaper warned of a hit to iPhone sales in the region if President-elect Trump implemented his plan to enforce a 45% import tariff on China-made products. Kate Spade jumped after activist investor Caerus Investors sent a letter to management urging a sale. The firm said a sale was the best path to enhance shareholder value after steady decline over the past two years. CoreLogic fell after Piper Jaffray downgraded its rating to neutral from overweight. Analysts pointed out concerns over how the company will perform as interest rates increase.
    2 min
  • Midday Report: Dynavax Slumps on FDA Rejection; U.S. Stocks Fluctuate
    Stocks fluctuated as Wall Street picked apart the likely policies of President-elect Donald Trump. Appearing on 60 Minutes Sunday, Trump outlined his plans to appoint an anti-abortion Justice and offered few details on his proposed wall along the southern U.S. border and plans to replace Obamacare. AK Steel benefited from Trump's proposed infrastructure spending, though. Morgan Stanley boosted its rating to overweight from equal weight, pointing to proposed stimulus policies. Dynavax plummeted after the FDA rejected a marketing application for a hepatitis B vaccine. The drugmaker now needs to partner with another pharmaceutical company or a financial backer to resubmit for approval. Twitter climbed after hedge fund Jana Partners disclosed a new stake of nearly three million shares. Jana also disclosed a sole share stake in Yahoo! and dissolved its sole share stake in Expedia .
    2 min
  • Closing Bell: Emerging Markets Decline on Trump Win; Dow Sees New Record
    The Dow Jones Industrial Average scored a new record with just slim gains after another unpredictable day of trading. The blue-chip index has enjoyed its best weekly gain in nearly five years. Emerging markets continued their selloff on fears over the types of trade deals a Trump Administration could implement. The iShares Emerging Markets Index ended near five-month lows. The ETF has fallen more than 8% since Wednesday morning. Crude oil prices closed lower after an increase in oil-drilling rig activity in the U.S. over the past week. Prices were already lower after major oil-producing bloc OPEC reported an increase in October output to new records. LifeLock jumped on reports it is looking to go private in a deal worth up to $2 billion. The security company is allegedly working with Goldman Sachs.
    2 min
  • Midday Report: Michael Kors Slumps on Weak Outlook; Dow Falls From Records
    Stocks moved lower as the Dow Jones Industrial Average pulled back from its recent highs and crude oil tanked the energy sector. Banking stocks had lifted the Dow to records, a rally that appears to have ended. An improved economic outlook helped to boost consumer sentiment in early November. The University of Michigan's index rose to its highest since mid-2016. A final read on sentiment will be released in just under two weeks. Michael Kors fell after issuing a disappointing outlook. The fashion and accessories retailer also reported weaker second-quarter results than expected as a decline in tourism and drops in mall traffic affected sales. Nvidia surged after breezing past analysts' profit and sales estimates over its recent quarter. The chipmaker nearly doubled its earnings, while sales rocketed 54% higher. Nvidia also upped its dividend.
    2 min
  • Stocks Mixed as Trump Bounce Softens; JC Penney Shares Sink
    U.S. stocks are mixed early Friday as the rally sparked by Donald Trump's presidential victory faded. The S&P 500 rose 3.8% as of Thursday's close, but the Nasdaq declined 0.8% as some of the biggest tech stocks saw declines. Brad McMillan, chief investment officer of the Commonwealth Financial Network said technology companies export goods overseas and there is uncertainty over how Trump will handle trade in his new administration. J.C. Penney shares slumped after reporting a third quarter adjusted loss of $0.21 a share, matching forecasts. Revenue of $2.86 billion missed estimates of $2.95 billion. Comparable store sales declined 0.8%, while analysts had expected an increase. One dark spot during the quarter was clothing sales. Speaking at a conference Friday, Federal Reserve Vice Chair Stanley Fischer said "the case for removing accommodation gradually is quite strong." The Fed's next policy meeting is in roughly one month. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Fitbit Benefits From Dubious Buyout Offer; Dow at Record
    Wall Street remained divided as investors tried to gauge possible policies after a Trump win. The Dow closed out at a new record, while the Nasdaq plummeted on a tech sell-off. Financials benefited from a post-election rally as investors bet on reduced regulatory hurdles for the sector. Trump advisors are also reportedly considering naming JPMorgan Chase CEO Jamie Dimon as the administration's Treasury secretary. Fitbit surged after a filing from China-based firm ABM Capital which offered a buyout. However, Fitbit has denied any offer was made and the veracity of the deal has not yet been confirmed. SodaStream jumped after a better-than-expected quarter. The homemade soda company benefited from a renewed focus on sparkling water sales. Revenue from that unit spiked more than 20%.
    2 min
  • Midday Report: Pharma Stocks Jump on Trump Win; Nasdaq Plummets
    Wall Street ran at two speeds with the Dow Jones Industrial Average setting a record high earlier in the day while the Nasdaq plummeted into the red. Markets continued to trade erratically following Tuesday's election results. Pharmaceutical stocks including Merck and Pfizer were in rally mode after Democrats failed to secure the presidency and Republicans maintained control of the House and Senate. Democrats would likely have reined in rampant price gouging from pharmaceutical companies. Mylan joined in on health care gains despite falling short of third-quarter earnings and sales estimates. The drugmaker swung to a loss in its recent quarter, largely tied to a multi-million dollar settlement with the DoJ. Shake Shack jumped after lifting its full-year sales outlook. The burger chain also reported a more-than 40% increase in third-quarter revenue and nearly 3% increase in same-store sales.
    2 min
  • Stocks Surge Again on Trump's Win; Macy's Misses Earnings Estimates
    U.S. stocks moved higher Thursday's as investors enjoyed a second day rally on the heels of Donald Trump's presidential election. Shares of European Banks including Deutsche Bank and Credit Suisse rose on hopes of less burdensome regulations under a Trump administration. Shares of Macy's were in focus after reporting third quarter earnings of $0.17 a share, while analysts had expected $0.41. Revenue of $5.63 billion matched forecasts. The retailer raised its full year comparable store sales guidance, expecting a decrease between 2.5% and 3% for the year, compared to a previous forecast of a decline of 3% to 4%. ConocoPhillips is shedding as much as $8 billion worth of natural gas assets in an effort to slash its budget for 2017. Shares moved higher on the news. The oil company also unveiled plans to buyback $3 billion worth of stock. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Stocks Soar Closing At Session Highs, Corrections Corp of America Jumps
    Stocks rallied holding gains as Wall Street weighed a surprising victory by Republican Donald Trump in the presidential election.The Dow Jones, S&P 500 and the Nasdaq closed at session highs rising over 1% after overnight lows. Earlier declines in crude oil prices reversed today closing with slight gains even after the Energy Information Administration said domestic crude oil supplies increased by 2.4 million barrels. Oil closed below $50 a barrel after two weeks of supply increases. The energy sector was higher Wednesday after seeing losses earlier in the session. But SunPower fell nearly 14% as investors believe Trump's focus on coal and oil is seen as a negative for the global energy company. And Corrections Corporation of America jumped over 45% as investors anticipated the usage of prisons will increase with Trump's promise to deport illegal immigrants. TheStreet's Valerie Young reports from Wall Street.
    2 min
  • Midday Report: Stocks Higher As Wall Street Shrugs Off Trump's Presidential Election
    Following the surprise election of Donald Trump yesterday Wall Street is volatile as investors can't make up their minds about the impact. Equities are trending higher but bounced between gains and losses after spending last night mostly lower. Health care stocks were rising Wednesday in reaction to Trump's victory. Biotech stocks, including Celgene , Biogen and Pfizer were higher. The iShares Nasdaq Biotechnology ETF that tracks these stocks rose over 7.8%. A Trump victory is seen as a positive because Hillary Clinton criticized rising drug costs and promised to curb them. And financial stocks saw a jump as Bank of America , Wells Fargo and JPMorgan Chase shares bounced over 3%. The SPDR Financial Sector ETF that tracks the financial-services sector was up over 2% Wednesday. Finally, Viacom reported adjusted quarterly earnings of 69 cents a share, topping analysts' estimates by 3 cents. Revenue of $3.23 billion came in below forecasts. Viacom investors will be looking for any commentary on a possible merger to reunite with CBS. Viacom shares were up slightly after being down most of the morning. TheStreet's Valerie Young reports from Wall Street.
    2 min

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