CNBC's Tyler Mathisen looks back at the week's top business and financial stories.» Read More
Stocks are struggling ahead of the opening as a selloff in the Treasury market pushed the yield on the 10-year above the key 5% level for the first time since last July. May sales results from chain stores are rolling in and merger activity continues to make headlines.
Dateline---Charlestown, Indiana. He was larger than life (in more ways that one)--and even now, 30 years after his death, Elvis Presley is still making money--for his heirs and for a lot of other people who loved him. Butch and Kim Polston of Charlestown Indiana are two of them. Theirs is a story of their love for 'The King', and their love for each other. In a basement workroom of a retired Army munitions factory in this small southern Indiana town....
It started off as a rainy, muddy day here in Northwest Arkansas -- a fitting backdrop for the Wal-Mart annual meeting, given Wall Street's dampened expectations. By the end of day, it was a scorcher and Wal-Mart's stock price closed up 4% on the day. Here are the nuggets I found interesting and overlooked by many: Russia and India were specifically referenced as potential international markets.
Wal-Mart's board is trying to reverse course from its well-documented high-profile fashion faux pas and they're bringing in a big gun to do that. One of the topics up for vote at the Wal-Mart annual investor meeting in Arkansas this week will be whether to add Allen Questrom to its board of directors. Within the retail industry, Allen Questrom is viewed as a master of merchandising and retail.
May's rally is already running into June, and the momentum could keep going as markets next week focus on the promise of new mergers, Fed-speak, a modest batch of economic data and corporate conferences.
As the Macy’s name replaced Federated Department Stores on the New York Stock Exchange Friday, heralded by the new ticker symbol, “M,” Macy’s CEO Terry Lundgren shared insights with CNBC’s Erin Burnett on “Squawk on the Street.”
A Ford Motor official predicts that his company's overall U.S. sales will drop in May, but its retail sales to individual buyers will show a year-over-year monthly increase for the first time since October of 2006.
The shortened post-holiday week promises to be anything but quiet, as a wave of economic news could turn investor focus away from the now normal diet of merger activity and onto a feast of economic data that could show the U.S. economy may indeed be more resilient than expected.
Will it be Nancy, or Serge or Steven--or maybe someone else winning a $1,000,000? The Million Dollar Portfolio Challenge is winding down today. Trading stops at the closing bell, so what happens will depend on who picked the best stock or stocks--as very little money separates the top three contenders. But as we said, there could be someone back in the pack, that's picked the best stock to leapfrog over the big three.
The record high price of gasoline won't seriously hurt the U.S. economy, predicts CNBC's Senior Economic Correspondent Steve Liesman. In this Reporter's Notebook discussion with Managing Editor Tyler Mathisen, Liesman says the economy may suffer a mild case of "tennis elbow" but won't be hit by a more serious "hamstring injury."
Nancy Beaumont already has some firsts in the Million Dollar Portfolio Challenge. She was our first weekly winner--and that qualified her for the finals. And she's currently in first place as the contest enters its last day. Nancy is a Director of Counseling at Touro University in Vallejo, California. Her strategy was "to buy small stocks." We'll see how that plays out by the end of trading today
Here's one of our last looks at the contest stocks. The most active and widely held remained pretty much the same throughout the contest and the finals--for both the Million Dollar Portfolio Challenge and Second Chance Showdown. Most best and worst performers were affected by earnings and M&A's over the weeks as well. Here you go:
Well, it's the final day of trading for the Second Chance contestants--who are competing for the Sony Home Theatre Entertainment System. You "second chancers" continue to outpace the Million Dollar Portfolio contestants by over $300K in total portfolio value--but the Million $ contestants have narrowed the gap again. So here's the latest on Second Chance. Ronald Rose jumps from sixth place into first place. Ronald only gained a modest $2K, but with losses by Wednesday's top 5 contestants he was able to take the lead.
Good morning all. We're starting this last day on the rough side as more than half of our Million Dollar contestants lost ground Thursday in a volatile market. All of our finalists are fully invested, with the exception of #15, Chuck Chow who is all in cash. Nancy Beaumont holds first place for the 4th straight day on the 9% gain of Gymboree. Nancy may hold onto the top spot with her almost all-in trade on Verigy, a Singapore-based maker of test systems for the semiconductor industry, which beat estimates after the bell Thursday. Verigy was up almost 10% in extended hours.
As the mercury climbs this summer, more and more consumers will be turning to an ice-cold bottle of water to quench their thirst.
The fire that was blazing on 34th Street and 10th Avenue here in Manhattan on Thursday was indeed the same tower that houses the corporate headquarters of Coach at 516 W. 34th St. However, the fire was only a rooftop fire and did not start inside the Coach offices.According to Coach spokesperson Andrea Resnick, the fire was contained to the rooftop, where it was brought under control, and the damage was minimal. All of the company systems are up and fully operational. There were no injuries to Coach employees.
Dell, which has relied mostly on a direct-to-consumer sales model, will start selling computers through Wal-Mart stores. The deal aroused concerns about possible margin-tightening for chip makers.
Well, today is the biggest day for our Million Dollar Portfolio Challenge contestants. The trades they execute prior to 4pm will be the last trades that will impact their total portfolio value based on their performance on Friday. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day. Nancy looks like she may maintain her first position with retail company Gymboree. Joe Dondero is losing so far today on his all-in bet on Ansoft. It's down in a rather 'up and down day" on the Street. But like Nancy, 3rd place holder Serge Amelyan is getting the benefit from Gymboree's rise.
Here's some more contest stock information for you--a look at the week's best and worst so far. Earnings as well as mergers brought out the best and worst in companies. Remember, today is the really big day for trades as the trades executed prior to 4pm today (Thurs) will be the last trades that will impact their total portfolio value based on their performance on Friday.
Richemont, the maker of Cartier watches and Montblanc pens, posted a 21% rise in annual net profit to 1.33 billion euros ($1.79 billion) on Thursday as China's economic boom fuelled demand for its luxury goods.