Here’s how Goldman Sachs says traders should play a government shutdown

The U.S. stock market remains largely bereft of volatility, but the threat of a government shutdown and other near-term events could provide some near-term trading opportunities.

According to a Wednesday note by Goldman analysts, upcoming government deadlines could be primary market drivers over the coming month. The deadlines include the debt ceiling, which must be raised by late September, as well as a spending bill that has to be approved by Sept. 30 to avoid a government shutdown.

While Treasury Secretary Steven Mnuchin said he is “100% confident” the debt ceiling will b
[Full Story...]

253 0
 Airline stocks fall as airports remain closed in Texas

Airline stocks were battered for a second session Tuesday, as investors continued to monitor the flooding in Texas caused by Tropical Storm Harvey and await updates on when regional airports and air services can be restored.

The NYSE Arca Airline index XAL, -0.19%  was down 0.8% at $104.47, and is now down almost 16% from its July peak, putting it firmly into correction territory, which many on Wall Street define as a decline of between 10% and
[Full Story...]

181 0
 Acorda stock plummets 26% on ‘surprising, puzzling, disconcerting’ FDA drug decision

Acorda Therapeutics Inc. shares dropped 26% Tuesday on news that the Food and Drug Administration won’t let it file for approval of its Parkinson’s disease treatment.

The FDA’s decision, in the form of a refusal to file letter, means that Acorda’s ACOR, -26.95% drug application wasn’t complete enough for the regulator to review it—an embarrassing development for a drug company.

The refusal to file is “surprising, puzzling, disconcerting”
[Full Story...]

182 0
 Adamas Pharma says its new Parkinson’s drug isn’t just a more expensive, long-acting version of generic

Late last week, Adamas Pharmaceuticals Inc. hailed its newly-approved drug Gocovri as “the first and only medicine approved by the FDA” for the involuntary movements that are a side effect of Parkinson’s disease medication.

That’s technically true. But a generic drug, amantadine, has long been used off-label by doctors for those involuntary movements, called dyskinesia. Generic amantadine can be bought for as little as 64 cents per pill, according to the price comparison website GoodRx. At two pills a day, a yearly supply costs under $500.

Adamas Pharma’s [Full Story...]

305 0
 Energy stocks pummeled again as Harvey dumps more rain on Texas

More rain and flooding on Tuesday added to the Houston area’s woes as the aftermath of deadly Hurricane Harvey, downgraded to a tropical storm, continued to create destruction across a swath of Texas.

Harvey struck at the heart of the U.S. oil industry over the weekend, leaving at least 10 dead, thousands of residents displaced, and scores injured as the floodwaters rose. The effects of the powerful storm and its floodwaters will likely ripple across the energy sector for weeks to come.

Energy stocks fell on Tuesday to become the third worst-performing sector in the S&P 500
[Full Story...]

161 0
 What advisers need to know about the SEC’s new Form ADV

Heads-up, financial advisers on social media: The government is watching you.

Or, at least, they will on Oct. 1, when advisers must detail on the Securities and Exchange Commission’s update
[Full Story...]

178 0
 La-Z-Boy in talks with Amazon as it seeks to connect with millennials, Gen X

Furniture maker La-Z-Boy Inc. is beefing up its e-commerce business in an effort to connect with younger shoppers who are comfortable making bigger purchases online.

Chief Executive Kurt Darrow told analysts on the company’s earnings call Wednesday that the company is in talks with giant Inc. and its Amazon Marketplace to explore “potential opportunities that would complement and support our existing distribution,” according to a FactSet transcript.

The talks are preliminary and Darrow said he does not have a full proposal to go forward with just yet.

But t
[Full Story...]

133 0
 MoviePass has struggled to meet the demand of its $10-a-month movie-ticket deal

Since MoviePass slashed the price of its monthly subscription from $30 to $10 a week ago, the movie-theater subscription service has seen such an influx of new members that it has struggled to keep up with demand.

A few days after rolling out its new, absurdly cheap, price point, MoviePass majority owner Helios and Matheson Analytics Inc. HMNY, -2.87%  said in a filing with the Securities and Exchange Commission that the company had more than
[Full Story...]

96 0
 Opinion: We could do without investing commentary from the Federal Reserve’s Janet Yellen

When Federal Reserve Chairwoman Janet Yellen speaks about the central bank’s role in managing “financial stability” at Jackson Hole, Wyo., on Friday, a lot of investors will pay close attention, and rightly so.

Her comments on the topic could hurt stocks. And to make matters worse, any damage might seem unfair.

That’s because the Fed’s mandate seems clear: Maintain price stability and full employment. So when the Fed drifts off into making calls on stock valuations — in the name of maintaining financial stability — it seems a lot like mission creep, and it takes money out o
[Full Story...]

82 0
 Fed’s Kaplan says a market correction wouldn’t necessarily be ‘troubling’

A sharp drop in asset prices would not necessarily be troubling to the economic outlook, said Dallas Fed President Rob Kaplan on Thursday.

[Full Story...]
87 0
 Opinion: Nvidia and AMD are deluged with orders for PC graphics cards

Sales of PC graphics add-in cards rose in the second quarter for the first time in nearly a decade, benefiting Nvidia and Advanced Micro Devices (AMD).

Add-in cards are for personal computers that are typically used by gamers, workstations, rendering farms and enterprise segments that need high-performance graphics. Based on data from Jon Peddie Research (JPR), add-in card sales jumped 30.9% in the second quarter from the first quarter, and 34.9% from a year earlier.

More than $3.6 billion of add-in hardware was sold last quarter, representing an increase of about $850 milli
[Full Story...]

98 0
 How Apple could make smartwatches more popular, and potentially help Fitbit

The smartwatch could become an important and popular device in the next few years, thanks to a change that Apple Inc. is rumored to make very soon.

Benchmark analysts said Tuesday that consumers will rally to smartwatches once companies “uncouple” the devices from smartphones. That move would allow the watch to operate its own communications, while also keeping track of users’ fitness and allowing them to purchase items, among other tasks that now require a smartphone.

The ability for smartwatches to operate without a phone appears to be coming, Benchmark analysts say, citing
[Full Story...]

82 0

Teens appear to be over Facebook.

Facebook usage among U.S. users between the ages of 12 and 17 is expected to decline for the first time this year, falling 3.4% from the previous year. While this decline gives Snap Inc. a rare edge, as teens are fleeing to its platform, Facebook Inc. FB, +1.11%  is still in the game as teens seem to be spending time on its other property, Instagram.

“We see teens and tweens migrating to Snapchat and Ins

[Full Story...]
89 0
 Uber gets knocked down a peg by top mutual funds

Four mutual-fund companies have marked down their investments in Uber Technologies Inc. by as much as 15%, the first such price cuts that suggest these investors are souring on the ride-hailing giant following a scandal-ridden year.

Vanguard Group, Principal PFG, +0.22%   and Hartford Funds HIG, +0.51%   all m
[Full Story...]

78 0
Search InvestingPie
Share on Twitter Share on Facebook Share on Google Plus
New comments
Very informative
05-03 04:23 by Liam
The same day Trump spoke with Reynolds
01-29 04:43 by Yavor737347
More from InvestingPie
Advertise with us

Find out our advertising solutions. Our Team will be in touch with you with a program that suits your needs. Please contact us.