TheStreet TV show

TheStreet TV

Summary: Financial news and analysis from TheStreet

Join Now to Subscribe to this Podcast

Podcasts:

 Midday Report: UnitedHealth Drags on Dow; Stocks Retreat From Records | File Type: | Duration: 01:07

Wall Street held mostly lower in a quieter end to a record-breaking week in which stocks scored their best winning streak in a quarter century. That record rally has flagged over the past two days. UnitedHealth led the Dow Jones Industrial Average's losses after the Department of Justice joined a lawsuit accusing the health care company of overcharging Medicare. The company reportedly overcharged "hundreds of millions? and likely billions?of dollars." Deere exceeded first-quarter estimates and offered positive guidance. The agricultural equipment company anticipates full-year sales growth of 4%, higher than consensus of a flat reading. WebMD fluctuated after indicating it was open to selling itself. The online medical encyclopedia said it was looking into strategic alternatives, which could involve selling all or part of the company.

 Global Stocks are Lower as Dow Tries for 7th Straight Record | File Type: | Duration: 01:30

U.S. stocks are pointing to a lower start as global markets are down, especially in Europe. Investors are still digesting President Donald Trump's lengthy press conference in which he criticized the news media, said Republicans are in the final stages of presenting an alternative to Obamacare and announced his Labor Secretary nominee Alexander Acosta. The Dow Jones Industrial Average has hit record highs for 6 straight days. Blackberry now has virtually zero market share in smartphones. Gartner says out of the more than 431.5 million smartphones sold last year, about 200,000 were Blackberry devices that were running its own operating system. Microsoft windows phones share fell to .3% in the last quarter of 2016. The wireless wars keep going. AT&T is expanding access to unlimited data to all wireless customers after Verizon announced its own unlimited data plan earlier this week.

 Snapchat's Parent Prices IPO at Low End of Expectations | File Type: | Duration: 01:22

Snap Inc. is preparing for the biggest technology IPO since Alibaba in 2014. The parent of Snapchat has set its valuation at the low end of expectations. The Wall Street Journal says it is valued at $19.5 billion to $22.2 billion. At that range, it puts Snap shares at $14 to $16. Boeing workers rejected the union at its South Carolina plant. It was not a close vote, 74% cast ballots against it according to the Post and Courier newspaper. This is the second time the South Carolina Boeing workers have rejected being a part of a union. The workers at that plant make the Dreamliner plane. Merck is the latest drug company to try and fail to come up with a drug to treat Alzheimer's disease. It has chosen to stop trials of its once promising treatment. Merck's setback comes just 3 months after Eli Lilly's Alzheimer's treatment failed in a trial. Biogen still has a drug being tested to treat the devastating disease.

 Closing Bell: Fossil Group Tanks on Weak Quarter; U.S. Stocks End at Records | File Type: | Duration: 01:09

Wall Street closed at records for its fifth straight session in a row. That's its longest win streak since a six-session stretch in late 1991 to early 1992. Markets were again higher on hints of tax reform. Fossil Group tanked after a disappointing quarter ravaged by currency exchange woes. The watchmaker also guided for a weak full year and said several factors will "cause volatility," primarily foreign exchange and restructuring charges. SodaStream jumped following a far better quarter than expected. The homemade seltzer company reported an 18% increase in sales in Western Europe and 20% increase in the Americas. PepsiCo topped analysts' estimates on its top- and bottom-lines over its recent quarter. Frito-Lay North America sales jumped 10% and North America beverage sales rose 8%.

 Midday Report: Verizon Revises Deal With Yahoo!; U.S. Stocks at Records | File Type: | Duration: 01:08

Stocks secured new intraday records as President Donald Trump again made vague references to a forthcoming tax reform plan. The president said a "massive" plan would be released in the "not-too-distant future." Domestic crude inventories rose at a steeper pace than anticipated. The Energy Information Administration reported an increase of 9.5 million barrels to U.S. stockpiles last week. Yahoo! jumped this morning on reports Verizon had reached a revised deal to acquire the Internet company. Verizon is reportedly close to making the new deal public. The acquisition was in jeopardy after a string of hacks left Yahoo vulnerable. Fortress Investment rocketed higher after Softbank agreed to buy the asset manager for $3.3 billion. The per-share offer values Fortress at a 39% premium to its close at the beginning of the week.

 Midday Report: Aetna, Humana Call Merger Off; U.S. Stocks Waver | File Type: | Duration: 01:07

Stocks were in flux as Wall Street digested comments from Federal Reserve Chair Yellen coming from Capitol Hill. Yellen reiterated that rate hikes would be gradual, though cautioned it would be unwise to wait too long. Mattel inched higher after securing a partnership with Alibaba to sell its toys in China and develop products specifically for the region. Mattel will use Alibaba's Tmall.com platform. Credit Suisse climbed despite a wider-than-expected loss in the bank's fourth quarter. The Swiss bank recently reached a multi-billion-dollar settlement with the Department of Justice over its sale of mortgage-backed securities. Aetna rose while Humana dipped after the two disbanded a merger agreement. The deal had been and would likely continue to be subjected to intense regulatory scrutiny from the DoJ.

 President Donald Trump to Meet With Canada's Prime Minister | File Type: | Duration: 01:22

President Donald Trump will meet with Canadian Prime Minister Justin Trudeau at the White House today. The two leaders will likely discuss the North American Free Trade Agreement, or NAFTA, at today's meeting at the White House. Canadian Prime Minister Justin Trudeau has been a proponent of NAFTA as well as accepting refugees in the country. This is the first face to face meeting since Trump's election to the President. Verizon (VZ) will introduce a new unlimited data plan today, it's first in more than 5 years. Verizon is feeling competition from other network carriers. Reuters says the plan will give unlimited data for $80 a month for customers on its 4G LTE network. Walt Disney (DIS) increased tickets to Disney world over the weekend. For most Disney theme parks, mid-tier tickets will cost $107, up from $102. Peak season tickets-generally Spring Break, Christmas and summer will now cost $119, up from $114.

 President Trump Meets with Japan's Shinzo Abe, Trade to be Discussed | File Type: | Duration: 01:08

President Donald Trump has abandoned plans to pursue the Trans-Pacific Partnership, TPP. Japan's Prime Minister Shinzo Abe is in Washington and will meet with the President today. Also, President Trump had a phone call with Chinese President Xi Jinping and affirmed the United States behind the 'One China' policy. Tom Price was confirmed as the new Health and Human Services Secretary in the wee hours of the morning. The vote was 52-47. This puts the former orthopedic surgeon in charge of overhauling Obamacare. Oil prices are high after the Energy Information Administration lifted its demand forecast and said OPEC is sticking to its pledge to cut production. It says a record 90% of OPEC countries are in compliance with the agreed upon production cuts. The monthly budget statement will be released later today. January import prices will also be reported. February Michigan sentiment is also out.

 Giant $48 Billion Health Insurance Merger is Blocked by U.S. Court | File Type: | Duration: 01:13

The court says the merger between Anthem and Cigna would have harmed consumers by resulting in fewer choices and higher costs. It would have been one of the largest deals in any industry, worth $48 billion. Recenlty, regulators also stopped another health insurance merger between Humana and Aetna . Executives in the aviation industry will meet with President Donald Trump today. The CEO's of Delta , United , Southwest , JetBlue , and Alaska Airlines will attend. They are expected to discuss the aging infrastructure of airports, taxes and regulations. A winter storm is threatening to drop a foot of snow across the northeast United States. Many flights have been cancelled and public schools are closed. The storm could limit trading volume on Wall Street.

 Federal Appeals Court to Hear Arguments on Trump's Immigration Order | File Type: | Duration: 01:23

A broad coalition of states, business leaders and former cabinet members joined together in urging the judges to keep President Donald Trump's immigration order ban on hold. A Federal Appeals Court will hear arguments both for and against lifting the stay on the order put in place by a Washington judge. A decision is expected later today. Meanwhile, Democrats have staged a 24 hour blitz against Trump's Education Secretary nominee Betsy DeVos. They are trying to convert one more republican over to their side to derail her confirmation. The current vote count indicates she will be approved by the slimmest of margins with Vice President Mike Pence casting the tie-breaking vote. BP reported annual earnings that were the lowest in 10 years. The Wall Street Journal reports the British oil giant also said the company now needs oil prices of about $60 a barrel to balance its spending with cash flow, up from the $50-$55 a barrel they had indicated last year.

 Stocks Move Lower as U.S. Political Uncertainty Weighs on Equities | File Type: | Duration: 01:18

U.S. stocks were wavering, searching for direction, but mostly lower Monday as uncertainty over potential policy moves from President Donald Trump weighed on Wall Street. Banking stocks led Wall Street sharply higher last week after Trump signed an executive order to loosen financial regulations. Tiffany shares fell as the company announced that its current CEO would resign immediately, after less than two years on the job. Board chairman and previous Tiffany CEO Michael J. Kowalski will serve as interim CEO. And, Toymaker Hasbro jumped over 14% after reporting fourth-quarter adjusted earnings of $1.64 a share, beating forecasts of $1.27. Revenue of $1.63 billion also topped Wall Street forecasts. Tech shares, including Apple , Alphabet's Google, Facebook , Microsoft , Netflix , Twitter were on watch Monday after a number of tech companies filed legal briefs on Sunday with a federal appellate court saying Trump's immigration ban damages their businesses.

 Tech Giants File Legal Action Against Trump's Travel ban | File Type: | Duration: 01:10

President Donald Trump says those against his travel ban are putting the country in danger. About 100 technology giants, including Microsoft , Google , Facebook and Apple , have signed onto a legal action against the ban. Further filings are expected to today from both the government and the Department of Justice. Tiffany's Chief Executive stepped down Sunday. The move comes after slow holiday sales. Tiffany's just aired its first Super Bowl commercial in its history. And history was made in Houston last night. The New England Patriots came from way behind to win the Super Bowl in the first overtime in Super Bowl history. Patriots quarterback Tom Brady was named Super Bowl MVP. Philadelphia Federal Reserve President Patrick Harker speaks about Fintech regulation in San Diego. President Donald Trump visits Macdill Air Force Base in Florida

 Closing Bell: Oil-Drilling Activity on the Rise; Banks Lead Wall Street Higher | File Type: | Duration: 01:08

Banking stocks led Wall Street sharply higher to end the week on the promise of relaxed regulations. This afternoon Donald Trump signed an executive order to put a pause on financial regulations, the first step in undoing Dodd-Frank. Oil settled higher despite another increase in weekly drilling activity. The number of active rigs drilling for crude oil in the U.S. rose by 3% in the past week to a total 583. GoPro tumbled after reporting weak quarterly sales and guiding for a disappointing current quarter. The action camera maker reported a 24% slump in sales over its most recent three-month period. Clorox saw an increase in sales and volume over its recent quarter. The consumer goods company reported a nearly 5% increase in revenue, driven by growth in its cleaning and household products units.

 Midday Report: Macy's Becomes Takeover Target; Big Banks Rally | File Type: | Duration: 01:10

The Dow Jones Industrial Average recovered a level above 20,000 as a potential repeal of banking regulations gave the financial sector a big boost. The White House is reportedly mulling rolling back Dodd-Frank regulations. Macy's surged on reports Hudson's Bay had approached the retailer for a potential takeover. Reports a day earlier suggested Macy's was open to a number of strategic options after pressure from shareholder Starboard Value. Chipotle fell after reporting on the final quarter in a tough year. The burrito chain has had a tough time recovering from the E.coli outbreak across 14 states in late 2015. Same-store sales fell nearly 5% over the fourth quarter. Factory orders rebounded in December after a sharp decline in November. Orders rose by 1.3%, above estimated growth of 0.9%.

 The Beginning of the End of Dodd-Frank? Trump Works to Dismantle | File Type: | Duration: 01:22

President Donald Trump will reportedly take aim at financial regulations today, ordering a review of the Dodd-Frank Wall Street reform law that could lead to major changes and suspending a conflict of interest rule for retirement advisors before it goes into effect this spring. This is according to several media reports out this morning, which cite White House sources. President Trump is also set to meet with several Chief Executives today including the heads of General Motors , IBM, , and JP Morgan Chase . The Wall Street Journal says they will discuss issues including regulation, women in the workforce, tax and trade, and infrastructure. Despite a record holiday season, Amazon didn't meet investors expectations. It missed analysts projections on revenue. Amazon's cloud computing business is the most profitable division and is growing quickly. The first jobs report of 2017 will happen today. Economists surveyed by Bloomberg believe 175,000 jobs are expected to have been added and the jobless rate will hold steady at 4.7%.

Comments

Login or signup comment.