CNBC's Tyler Mathisen looks back at the week's top business and financial stories. It was a big week for Facebook. Not so big for Amazon.» Read More
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.
Hey folks, here's one of our last contest stock reports. And it's somewhat appropriate we do so as we are coming back full circle to the start of the contest with Fremont General once again on the actives list based on their news about its reorganization, selling a unit, and installing new management. Here you go:
The retailer said the net loss totaled $1.7 million, or 3 cents a share, compared with a year-earlier profit of about $10 million, or 14 cents a share. Excluding the charges, the bookseller said it earned $6.8 million, or 10 cents a share for the quarter.
Well, like we said for the Million Dollar Challenge, today's trades will be big for the Second Chance Showdown players. But the players continue to outpace the Million Dollar contestants by over $500K in total portfolio value, though the $M finalists have narrowed the gap. Aric Fanzmeier's portfolio fell back below the $2M mark with a loss on ValueClick and Gamestop but he managed to hold onto first place for the third day. Jacob Swanson moves into second with a $411K gain on Fremont General. Both Aric and Jacob have bet on earnings for Thursday.
Good morning everyone. Today--Thursday--is a big day for our 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. And, the race at the top gets tighter each day. Only $22K separates the top three positions. Nancy Beaumont holds first place for the 3rd straight day on the 9.75% gain of The Men's Wearhouse. Nancy looks like she may maintain her first position with Gymboree up almost 10% in extended hours.
Former Fed Chairman Alan Greenspan dampened stock performance around the world with his warning yesterday that China's red-hot stock market will face a sharp decline some day. European markets are lower this morning and Asian markets closed mostly lower overnight. Yet China's Shanghai index shrugged off the comment, closing just 0.5% lower after managing to also hit a new intraday high in a volatile session.
AnnTaylor Stores posted lower quarterly earnings Thursday, as a weak assortment of clothes at its still-struggling LOFT chain forced the retailer to take deeper markdowns, hurting margins.
Ban Tran says he's so caught up in the excitement of the CNBC Million Dollar Portfolio Challenge, that he's delayed finding a job until he's completely through with the contest. Well, he won't have long--with the contest ending this Friday. Ban is one of the 20 finalists competing for the $1,000,000 prize. So maybe if he wins, he'll delay his job search even longer.
Apparel retailer Abercrombie & Fitch said its quarterly profit rose due to higher sales at its namesake, Hollister and Ruehl chains.
We have a pair of Million Dollar Portfolio Challenge finalists to "introduce" to you. Stephen Luchko (pictured) is from Swarthmore, Pennsylvania--and a portfolio accountant for The Haverford Trust Company. And Greyson Masters (interview below) is a market research executive and lives in Winchester, Virginia. He says he trades for pleasure. The pleasure may be ending as both have just two days now to get the winning portfolio value for the $1,000,000 prize!
Department store chain Dillard's posted a 30% drop in first-quarter profit as sales declined, sending shares lower. Net profit fell to $42.9 million, or 53 cents a share, from $61.3 million, or 77 cents a share, a year earlier.
Wall Street is signaling a higher open this morning as merger activity continues to be a major catalyst for stocks. Europe's stock markets are moving higher this morning, and Asian stocks finished mostly higher.