TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • U.S. Voters Shock the World, Elect Donald Trump as President
    Global stocks plummeted as the results from the U.S. election came in last night. At one point, futures were down 800 points but have cut those losses in half. The Mexican peso fell to its lowest level against the U.S. dollar in history. The Senate and House retained their Republican majorities as well. Drugstore giant Walgreen sued former laboratory testing partner Theranos in a federal court in Delaware. It alleges Theranos breached a contract between the two companies. The Walgreens Boots Alliance unit is seeking $140 million in damages, equal to the amount it invested in Theranos, according to the Wall Street Journal. Theranos says it will 'respond vigorously' to the allegations. Apple is now offering customers the chance to purchase refurbished iPhone 6s and 6s Plus online. 9to5 Mac reports that Apple's online refurbished store is stocked with iPhones for the first time.
    2 min
  • Closing Bell: D.R. Horton Sees Order Slowdown; U.S. Stocks Jump
    Stocks added to massive gains enjoyed at the start of the week as voters headed to the polls to pick their next U.S. president. The S&P 500 has risen roughly 2.5% over the past two days. Crude oil prices closed with slight gains even after the Energy Information Administration upped its forecasts for U.S. oil production for this year and the next. A global supply glut with little signs of being alleviated any time soon has kept prices under pressure. D.R. Horton slid after a disappointing quarter in which new orders rose just 3%. The key metric was at its slowest growth in nearly three years even as the rest of the housing market enjoys robust demand. News Corp. slumped after posting a first-quarter loss. The Rupert Murdoch-run media empire reported a drop in quarter revenue on weak print ad demand and currency exchange woes.
    2 min
  • Midday Report: Hertz Slumps in Record Bad Day; U.S. Stocks Rebound
    It's Election Day and market moves were volatile. Equities bounced back into the green after spending the morning lower. Statistics site FiveThirtyEight puts the odds of a Clinton win at 71%. U.S. job openings rose in September, another sign of a robust labor market. The JOLTs report also showed the quits rate unchanged at 2.1%. Layoffs declined to 1%. Priceline jumped after topping profit and sales estimates in its recent quarter. The online bookings company reported a 19% surge in revenue. Priceline also said it would slow down growth plans for its OpenTable business. Hertz suffered its worst one-day decline since going public after guiding for a weak full year. The car-rental company also reported a decline in third-quarter earnings on weakness in the U.S. market.
    2 min
  • Stocks on Hold as America Votes; Valeant Pharmaceuticals Shares Sink
    U.S. stocks wavered Tuesday as America headed to the polls in a closely-watched presidential election between Hillary Clinton and Donald Trump. Stocks are on hold after a significant rally on Monday, where equities posted their largest gains since March 1 and snapped a nine session losing streak. "Whoever ends up in residence at 1600 Pennsylvania Avenue is going to have a pretty disgruntled electorate to try to bring along and I think markets will react to some of that," said Carol Schleif, deputy chief investment officer at Abbot Downing. Meanwhile, shares of Valeant Pharmaceuticals slumped after reporting a disappointing outlook. The troubled pharmaceuticals giant is forecasting full-year earnings of $5.30 and $5.50 a share, compared to previous estimate of $6.60 to $7 a share. Results for its most recent quarter also came in below forecasts and revenue fell 11% year-over-year. CVS Health shares fell after reporting lower full-year earnings guidance. The company exceeded Wall Street's third quarter earnings estimates, but missed on the top line. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Closing Bell: Gold Endures Worst Day in Weeks; S&P 500 Snaps Losing Streak
    Stocks enjoyed a massive rally to start the week as confidence in an election win for Hillary Clinton boosted sentiment. The S&P 500 snapped its worst losing streak in decades, while the Dow Jones Industrial Average returned above 18,000. Safe-haven assets such as gold declined. Gold for December delivery fell under $1,300 an ounce in its largest one-day percentage loss in five weeks. Safe-haven assets typically fall as appetite for riskier assets increases. Blue Nile rocketed higher after agreeing to be taken private for $500 million in an all-cash deal. An investor group consisting of Bain Capital Private Equity, among others, agreed to make the purchase. Windstream Holdings moved slightly higher after agreeing to buy telecom Earthlink Holdings . The acquisition helps the company cuts costs in an increasingly competitive industry.
    2 min
  • Midday Report: Berkshire Hathaway Profit Falls; U.S. Stocks Rally
    Stocks rallied and safe-haven assets fell after the FBI cleared Hillary Clinton of any wrongdoing in another investigation into her emails. Nearly 42 million have already cast their ballots in early voting, a record number which has skewed toward Democrats. Berkshire Hathaway reported a double-digit decline in profits in its recent quarter. Warren Buffett's investment group said net income declined 24% as investments and insurance-underwriting profit dropped. Sysco jumped after reporting a 33% jump in quarterly net income. Sales moved 11% higher, driven by its acquisition of Brakes Group. Tesla rose after announcing that its Supercharge facilities would soon come with a cost. Vehicles ordered after the New Year will include annual credit worth roughly 1,000 miles after which a fee will be added.
    2 min
  • U.S. Stocks Surge as FBI Clears Hillary Clinton
    After a nine-day losing streak, U.S. stocks surged Monday as the FBI found no evidence to charge Hillary Clinton after reviewing a fresh batch of emails tied to the Democratic presidential candidate. The Dow Jones Industrial Average rose 200 points, as investors priced in a Clinton victory in Tuesday's critical U.S. presidential election, which is seen as a safer outcome for stocks. In other news, Sotheby's posted an adjusted diluted loss of $0.78 a share for its third quarter. Analysts were expecting a loss of $0.62. The auction house pointed to seasonal headwinds and acquisition charges as reasons for the loss. Revenue of $91.5 million topped estimates of $82.9 million. MGM Resorts shares were on the rise after beating Wall Street's profit and sales estimates for its third quarter. Profit came in at $0.93 a share, compared to $0.12 a share during the same quarter last year. Revenue of $1.9 billion rose 16% year-over-year amid strength in its Las Vegas properties. TheStreet's Scott Gamm reports from Wall Street.
    2 min
  • Stocks Surge as FBI Clears Clinton in Email Scandal, Dollar Gains
    FBI Director James Comey says there was no additional evidence that would change its conclusion that no charges will be filed against Democrat Presidential Candidate Hillary Clinton. The Mexican peso and U.S. Dollar are also higher. Twitter's ( ) website briefly went down early this morning, shortly after Wikileaks reported a cyber attack on its email publication servers. Twitter has not confirmed the outage, but websites that track the responsiveness of web servers said that an outage hit the social media website and lasted for a few minutes around 1:30 A.M. Wikileaks posted a message to its Facebook account claiming an ongoing denial-of-service attack on its servers after reporting a brief outage. Janet Reno, the first woman U.S. Attorney General, has died. Her sister confirmed her death to the media after a long battle with Parkinson's Disease. Reno served in the Bill Clinton White House from 1993 to 2001.
    2 min
  • Closing Bell: ISS Endorses SolarCity, Tesla Deal; U.S. Stocks Lose Ground
    U.S. stocks fluctuated in the final hour of trading Friday to close lower as investors looked ahead to next week's presidential election. Another slump in crude oil also pressured markets. West Texas Intermediate closed with a weekly loss of nearly 10%, its worst week since mid-January. A weekly read on oil-drilling activity in the U.S. showed an increase in the number of active rigs. Whole Foods was briefly halted in the early afternoon after volatile trading. The supermarket chain's shares spiked after reports emerged a major shareholder is pushing for changes, including a possible sale. SolarCity rallied after Institutional Shareholder Services endorsed Tesla's plan to buy the solar company for more than $2 billion. The shareholder advisory firm said the deal was a necessary step for Tesla to become an "integrated sustainable energy company." TheStreet's Keris Lahiff reports from Wall Street.
    2 min
  • Midday Report: Cost Cuts Boost FireEye; Crude Oil Slumps on OPEC Worries
    Stocks moved higher as investors looked past a solid jobs report toward next week's election. Current polls indicate Hillary Clinton has a slight advantage in battleground states and a wider path to winning the Electoral College. Crude oil prices fell on reports Saudi Arabia could increase production as a freeze agreement among OPEC falls apart. Oil slumped a day earlier on skepticism any deal from OPEC could come from a meeting in Vienna later this month. FireEye surged after reporting a far narrower quarterly loss than expected thanks to cost-cutting measures. The company announced a series of job cuts three months ago. CenturyLink rose after selling its data centers in a billion-dollar deal to fund its purchase of Level 3 Communications. The communications company announced its $25 billion acquisition earlier this week.
    2 min

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