2 Stocks to Watch: Best Buy Surprises; Tesla Motors Capitalizes
“Clearly geopolitical risks are elevated, but it’s too early to tell about the longer-term implications,” Sandven said. “It’s still a buy-on-the-dip equity market and the fundamental backdrop is still favorable for equities to trade higher.” The developments in the Ukraine also overshadowed some encouraging developments on the U.S. economy. Manufacturing in the U.S. expanded at a faster pace in February as new orders and businesses boosted their stockpiles.
J.P. Morgan’s Top Chip Stocks to Buy on the Strong Start to 2014
Here are the five top names to buy at J.P. Morgan that are seen to directly benefit from the early 2014 sales success. Altera Corp. (NASDAQ: ALTR) makes the top five at J.P. Morgan and is a stock to buy now.
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Stocks fall as Ukraine tensions rise; Gold gains
It should reduce domestic debt to 52 percent of assets in the next few months, the lower limit of its current policy, he said. Allocations need to be revamped to allow a more dramatic shift and GPIF should seek to mimic global peers, who have 35 percent to 40 percent of their portfolio in bonds, according to Ito. Japanese bonds accounted for 55 percent of the funds portfolio at the end of December, the smallest share since GPIF was established in its current form in April 2006. The fund held 17 percent of its assets in local shares last quarter, 15 percent in foreign equities and 11 percent in overseas bonds, according to a statement on its website . GPIFs target allocation to domestic bonds is 60 percent, with asset managers given permission to deviate from this by as much as 8 percent.
3 Reasons to Buy This Stock Warren Buffett Loves
The yield on the 10-year Treasury note fell to 2.61 percent from 2.65 percent late Friday. THE REACTION: Stock markets are reacting exactly as one would expect them to in a time of heightened global political tensions, said Phil Orlando, chief equity market strategist at Federated investors. Investors are selling riskier assets like stocks and buying safer securities like U.S. Treasurys and gold.
GPIF Pressure to Buy Stocks to Benefit Public, Ito Says
To be sure, if the retailer’s strategy was to talk analyst estimates down following the holiday period so that they could go on to over-deliver, they were extremely successful, as the consensus estimate for fourth-quarter earnings per share fell from $1.62 in late December to $1.01 after the company’s January update . That set Best Buy up for a significant beat, as adjusted EPS came in at $1.24, with EBIDTA (earnings before interest, taxes, depreciation, and amortization — a measure of cash flow) of $815 million also beating the consensus estimate. That success comes from Best Buy’s work to get really lean — at an annual run rate of $775 million, its cost-cutting efforts exceeded expectations in the fourth quarter. CEO Hubert Joly is now aiming for $1 billion in annual cost cuts, which would set the company up to compete more effectively in a knock-down war with other big-box and online retailers.
Best Buy stock jumps on return to profit
J.C. PENNEY: Stock surge after earnings news “The fourth quarter was an environment of declining retail traffic, intense promotion, fewer holiday shopping days and severe company website weather,” said Joly, in a statement. “In the face of these unusual circumstances, our strategy to be price competitive and prove an improved customer experience resulted in market share gains.” Net income after paying preferred dividends totaled $293 million, or 83 cents per share. That compares with a loss of $409 million, or $1.21 per share last year. Excluding results from discontinued operations, net income was $1.24 cents per share, easily beating the $1.01 that analysts had projected, according to a poll by FactSet.