General Electric’s (GE) CEO John Flannery, who took the position last August, got a shot in the arm on May 21. GE said it would spin off its Transportation segment and simultaneously combine it with Wabtec, a manufacturer of equipment used in the railroad (TRN) industry.
The inverse relationship between oil prices and oil’s implied volatility is illustrated in the above graph. Since US crude oil’s 12-year low in February 2016, US crude oil active futures have risen 169.8%. US crude oil’s implied volatility fell 70.1% between February 11, 2016, and May 24, 2018. Price forecast
Inc. shares slumped on Friday as the retailer said inventory issues at its flagship store will take months to resolve. Gap Inc. (GPS) , whose brands also include Banana Republic and Old Navy, reported first-quarter earnings per share of 42 cents, up from 36 cents last year but below the 46 cents FactSet-compiled analyst consensus. The Gap brand’s chief executive, Jeff Mirwan, left the company in March.
Foot Locker, Inc.’s earnings report for the first quarter of the year includes earnings per share of $1.45. This is an increase over its earnings per share of $1.36 from the same time last year. It was also great news for FL stock by beating out Wall Street’s earnings per share estimate of $1.25 for the period.
Micron Technology, Inc. (NASDAQ:MU) stock has gotten out of its funk and in a big way. The price action on Micron stock looks more like that of a red-hot IPO, not a 40+ year old memory chip manufacturer. Then again, Micron stock has been subject to wide swings over the years.
Year-to-date, Wells Fargo & Co (NYSE:WFC) stock is lagging the group, down 10% while other bank stocks like Bank of America Corp (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM) are 10 points better off. WFC stock so far has been able to withstand selling pressure from tremendous market-wide fears, its own inflammatory headlines and tremendous global volatility, and has remained in line with price expectations.
Here’s a detailed look at how the irreverent Turtleboy has offended Facebook’s (FB) users and management, or not, and why Facebook keeps banning the blog. This huge company owns 40% of “Fortnite’s” developer and is still growing very quickly.
Foot Locker Inc. has made some progress in stomping out its problems. In a press release, CEO Richard Johnson said he expected that measure to return to growth later in the year. Johnson indicated that part of the reason for the better-than-expected performance was that Foot Locker was able to secure a better line-up of premium sneaker styles from some key suppliers.
Wells Fargo (WFC) has delivered stable profitability since the beginning of 2017 helped by rates and lower taxes in 2018. The bank has maintained high dividend yields and repurchases in order to boost return on equity (or RoE). It has relatively high capital adequacy ratios and has passed recent stress tests. However, a further hike in payouts will depend on its growth in operating performance. Amid rising rates and lower taxes, credit offtake has been weaker.
Chesapeake Energy Corporation (NYSE:CHK) could be poised for a comeback. Now, as the company strives to repair its balance sheet, profit forecasts, as well as an emerging export market, could turn the company around and lead to massive gains in CHK stock. While the market cap and debt levels have improved over the last year, the company remains in a precarious financial position.