TheStreet TV show

TheStreet TV

Summary: Financial news and analysis from TheStreet

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 Closing Bell: CBS Files for CBS Radio IPO; Fed Boosts U.S. Stocks | File Type: | Duration: 01:11

Stocks shook off earlier weakness to close higher after the Fed's June meeting minutes stressed a prudent approach to monetary policy. Crude also reversed course over the session, closing above $47 a barrel after hitting a two-month low earlier. The central bank appeared cautious ahead of the then-upcoming Brexit vote, uncertain of how the global economy might react. Members were also divided on whether a weak May jobs report was transitory. Valeant closed around session highs after Walgreens execs said they were satisfied with their relationship with the drugmaker. The companies entered a distribution deal late last year. CBS plans to separate from CBS Radio via an initial public offering. The separation would be similar to what CBS did with its outdoor-ad unit two years ago.

 Midday Report: Services Sector Expands; Stocks, Oil Fluctuate | File Type: | Duration: 01:09

Stocks were in flux as uncertainty over how and when the U.K. will exit from the EU kept traders nervous. Biotech gave the Nasdaq a boost, while wild swings in crude oil kept the energy sector in the red. Growth in the U.S. services sector expanded in June at its fastest pace in seven months, according to the ISM Non-Manufacturing Index. Both the employment index and the business activity index rose last month. American Airlines weighed on its peers after Credit Suisse hit it with a two-notch downgrade to underperform. Analysts said industry unit revenue growth will likely continue to disappoint. Gold producers jumped as investors sought safe-haven assets amid the uncertainty of the Brexit situation. Prices hit their highest level in 28 months earlier in the session.

 Opening Bell: Stocks Slip as Investors Flood Save-Havens; Walgreens Earnings Shine | File Type: | Duration: 01:25

U.S. stocks moved lower on Wednesday, as Brexit fears pushed investors into safe-haven assets. Japan's 20-year government bond yield dipped into negative territory for the first time ever. Gold prices hit a two year high, as investors ditched risky assets. Plus, oil prices dipped to a two-month low on fears a Brexit could ding demand. Meanwhile, Walgreens Boots Alliance reported better-than-expected third quarter earnings and raised the lower bound of its full-year earnings forecast. Earnings per share of $1.18 beat estimates of $1.14 and the company's acquisition of Rite Aid is set to close in the second half of 2016. Finally, investors are gearing up for the 2pm Eastern release of the minutes of the Federal Reserve's June meeting, when the central bank left interest rates unchanged. While this meeting was before the Brexit vote, investors hope to gain more insight on whether the dismal May jobs report was a fluke or a more worrisome sign about the labor market. TheStreet's Scott Gamm reports from Wall Street.

 Closing Bell: Netflix, CW Partner Up; U.S. Stocks Decline | File Type: | Duration: 01:12

Wall Street returned from the long Independence Day weekend to find worries over Brexit again gaining traction. The Dow ended with losses of roughly 100 points, while crude oil closed at its lowest level in just over a week. Comcast has struck a deal with Netflix to incorporate the video-streaming service into its X1 platform. The deal allows Comcast to compete more effectively with other over-the-top devices such as those from Roku and Verizon . Separately, Netflix reached a new multi-year agreement with the CW, extending the exclusive streaming rights agreed upon in 2011. The deal involves scripted CW series such as Supernatural, Supergirl and The Vampire Diaries. Nordstrom declined despite an upgrade to HOLD from SELL at Miller Tabak. Analysts said the revision was a valuation call.

 Midday Report: Delta Cuts Quarterly Forecast; Brexit Woes Weigh on Markets | File Type: | Duration: 01:06

Uncertainty over the timeline and execution of the United Kingdom's exit from the European Union left markets rattled. The S&P 500 pulled back from gains achieved last week in what was its best five-day performance of the year. Delta cut its profit margin forecasts for its June quarter. The airline pointed to a five percent decline in passenger revenue last month and the higher cost of fuel as reason for the weaker-than-expected quarter. Harley-Davidson declined, giving back much of the gains achieved on Friday. Shares had surged on speculation of a possible takeover deal from private-equity firm KKR in the pipeline. Netflix was downgraded to HOLD from BUY at Needham. The firm said exposure to Europe should either accelerate subscriber churn or slow subscriber growth.

 Closing Bell: Vivendi Ups Ubisoft Stake; Crude Posts Weekly Loss | File Type: | Duration: 01:07

Stocks ended the week in the red, amassing more losses for the fourth session since Monday. The tech sector was the main culprit, dragged lower by a selloff in Apple shares. The looming 'Brexit' vote next week also spooked investors. Crude oil closed Friday with a weekly loss of just over 2%. An earlier rally pared gains in the late afternoon after the number of active oil rigs in the U.S. rose for their third straight week. French media company Vivendi has upped its stake in Ubisoft entertainment to just over 20%. The company said it would not make a play to take control of the videogame developer for the next six months. GoPro spiked after JPMorgan said sales showed improvement. Analysts said increased marketing and a streamlining of its product portfolio helped to boost sales.

 Midday Report: HSBC Settles Subprime Lawsuit; U.S. Stocks Slide | File Type: | Duration: 01:05

Stocks extended their decline, pulling markets further into the red for the week. Apple dragged tech lower after Beijing ordered sales of its iPhone 6 to stop, citing patent infringement. Infoblox announced plans to lay off 12% of its workers as part of a cost-cutting plan. The network-software company will likely incur $6.5 million in restructuring charges. Lumber Liquidators roared higher after U.S. regulators ended their investigation into its flooring products containing formaldehyde. Officials did not issue a recall, but ordered a number of safety measures, many of which the company has already implemented. HSBC has agreed to pay a $1.6 billion fine to settle a subprime lending lawsuit.

 Opening Bell: Stocks Slip on Brexit Worries; Apple Suspends iPhone 6 Sales in China | File Type: | Duration: 01:09

U.S. stocks slipped on Friday, as investors gear up for a potentially market moving Brexit vote next week. Those fears overshadowed the rise in oil prices, which snapped a six-session losing streak. Viacom shares fell amid news that chairman Sumner Redstone ousted Viacom CEO Phillipe Dauman from the board. The media giant also reported weaker than expected fiscal third quarter earnings of $1 to $1.05 a share, missing estimates of $1.38. Finally, the Chinese government has ordered the suspension of sales of the Apple iPhone 6 and 6 Plus smartphones, saying the device violates a patent from another China-based phone maker. TheStreet's Scott Gamm reports from Wall Street.

 Here’s What Brexit Means for Oil Prices | File Type: | Duration: 03:37

If UK citizens vote to leave the European Union in a landmark referendum next Thursday, that could push oil prices lower, according to one analyst. 'I think it's likely prices would drop a little bit more,' said Spencer Welch, an oil analyst with IHS, based in London. 'Some of the fall is already being priced into the market right now.' On Friday, oil prices snapped a six-session losing streak with Brent eclipsing $48 a barrel and West Texas Intermediate crossing $47 a barrel. Earlier this month, prices topped $50 a barrel. 'There's uncertainty around what a Brexit might mean - a concern about potentially reduced trade,' Welch said. TheStreet's Scott Gamm reports from Wall Street.

 Global Stocks Rally, Oil Rebounds as Fears of ‘Brexit’ Ease | File Type: | Duration: 01:26

Global stocks are rallying this morning and oil is rebounding. The fears of a 'Brexit' are easing as recent polls give a slight edge to supporters of staying in the European Union. Both sides in the referendum debate suspended campaigning after the murder of a British lawmaker. Gold prices are retreating. Revlon is buying Elizabeth Arden in a cosmetics matchup. The deal is worth $870 million, including debt. Revlon is paying $14 a share, a 50% premium to Elizabeth Arden's closing stock price. The deal allows Revlon to expand more into skincare. Oracle's stock is climbing after the company's cloud business helped it beat Wall Street expectations. Oracle's software business grew 2% but CEO Safra Katz says the company is more focused on its cloud business, which saw growth of 49%. Housing starts for May are reported. The Baker Hughes rig count is released.

 Closing Bell: Viacom Board Shakeup; Stocks Stage Late Recovery | File Type: | Duration: 01:10

Stocks snapped a five-session losing streak in a surprise late-stage comeback. After steady losses over the past week, investors felt recent threats such as a possible Brexit may have been priced in. A Brexit would still have far-reaching consequences, though, among them a steep drop in the London Stock Exchange's FTSE 100. Morgan Stanley gives a Brexit a 55% chance and said the FTSE could drop 16% if it comes to pass. Viacom spiked on reports Sumner Redstone's National Amusements has sacked five directors, including CEO Phillipe Dauman from the board. Redstone's privately-held company is a controlling shareholder of the media conglomerate.

 Midday Report: Apple Supplier Jabil Circuit Disappoints; Stocks Down | File Type: | Duration: 01:12

Stocks declined on a multitude of worries from a possible Brexit to crude oil returning to below $47 a barrel. A less-hawkish Federal Reserve also raised worries over the health of the U.S. economy. Homebuilder sentiment in the U.S. improved in May, another sign of a robust housing sector. The National Association of Home Builders' index increased after four months remaining unchanged. Homebuilders were most optimistic about the six-month outlook. Chipmaker Cavium fell after agreeing to buy network equipment maker QLogic in an effort to diversify from the competitive semiconductor market. Apple supplier Jabil Circuit issued weak guidance for its fiscal fourth quarter and full year.

 Opening Bell: Stocks Slip on Bank of Japan Inaction; Rite Aid Posts Earnings Miss | File Type: | Duration: 01:21

U.S. stocks dropped on Thursday, following the Bank of Japan's decision not to add more stimulus measures, despite a strengthening yen. Meanwhile, the May consumer price index rose 0.3 percent month-over-month, beating estimates of 0.2 percent. Year-over-year, the inflation gauge is up one percent, far from the Federal Reserve's two percent target. Plus, weekly jobless claims rose by 13,000 to 277,000 over the past week. Rite Aid shares fell after reporting first quarter earnings and revenue that missed analysts' estimates, though revenue rose 23 percent year-over-year. Same store sales gained 0.4 percent. TheStreet's Scott Gamm reports from Wall Street.

 Closing Report: FireEye Spikes on Takeover Talk; U.S. Stocks Lose Gains | File Type: | Duration: 01:09

An unsurprising Fed meeting helped stocks retain gains up until a sudden reversal just a half hour before the end of the session. The central bank opted to leave rates unchanged in June as Wall Street expected. Fed Chair Janet Yellen expressed confidence in the U.S. economy, reiterating her belief in growth at a moderate pace. Yellen noted first-quarter weakness appeared temporary and that the Fed would stick to its plan to gradually increase rates. FireEye spiked on reports it had received and rejected a number of takeover offers from the likes of Cisco and IBM . Shares climbed earlier in the week after Symantec bought fellow security tech developer Blue Coat. Macy's workers at New York City locations could go on strike if a labor agreement is not struck by midnight. A strike would be the first for Macy's in NYC in more than four decades.

 Midday Report: Crude Recovers After Stockpile Decline; Stocks Rise | File Type: | Duration: 01:01

Stocks held onto slight gains, snapping a four-session losing streak. That could all change by this afternoon, though, depending on what the Fed says after its meeting. Fresh forecasts will be released, including the closely-watching dot plot matrix. Crude oil recovered from earlier lows after a decline in U.S. inventories over the past week. Stockpiles fell by 900,000 barrels according to the EIA. However, the decline wasn't as steep as expected. Cisco was downgraded to NEUTRAL from BUY at Goldman Sachs. Analysts said the networking tech company lacks near-term catalysts. Procter & Gamble was rated a new buy at Jefferies. The firm said Procter can return to 3%-plus organic sales growth in the coming years.

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