Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Boeing met with aircraft leasing firms and financiers in New York as the grounding of its popular 737 Max planes drags on with no clear timeline for getting the planes back in...Aerospace & Defenseread more
Both companies report earnings on Aug. 8, so the CBS and Viacom boards have set that as a natural deadline to agree to a merger. Price won't be discussed by the companies...Technologyread more
The Food and Drug Administration "stands ready" to start reviewing e-cigarettes amid a teen vaping "epidemic," acting Commissioner Ned Sharpless said Monday in a statement.Health and Scienceread more
US oil companies on Monday began restoring some of the more than nearly 74% production shut at U.S. Gulf of Mexico platforms ahead of Hurricane Barry, the US offshore drilling...Energyread more
The "Fast Money " traders debated on Thursday whether the earnings results they've seen justify the current levels in the market.
The closed at a 52-week high of 2,173.02 on Wednesday. But earnings results have been a "mixed bag" so far, trader Guy Adami said.
"The reality is earnings absolutely do matter, but the question is: does the economic environment that we find ourselves in justify what I believe is a 19 forward multiple on the S&P? ... I would submit the answer is no," Adami said.
Trader Tim Seymour said that the after-hours move in Starbucks is primarily due to the disappointing comparable-store sales numbers.
"It's about U.S. comps, and the bar is very difficult and the valuation is very difficult," Seymour said. The coffee chain's price-to-earnings ratio was last near 34, on a trailing 12-month basis.
Trader Karen Finerman said that not all earnings suggest a gloomier outlook. She said United Rentals had positive results and the company seems "to have really hit an inflection point in this last quarter."
Trader Brian Kelly said that he doesn't think earnings matter as much to the "overall market."
"As long as every central bank is willing to be the backstop, who cares about the earnings? The markets hasn't cared about earnings. I mean for the last 18 months, we've gone sideways. It's been a great market if you're a long-short type of hedge fund manager ... [who] can get in there, pick individual stocks," Kelly said.
Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, XME, US Dollar UUP. He is short the Swiss Franc, euro, and Japanese yen.
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM and short SPY, XRT. Seymour's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO and short HYG, IWM.
Karen Finerman is long AAL, BAC, C, DAL, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.