Long-time stock market bull Tom Lee said Thursday the U.S. won’t go into recession over the new year financial turmoil. But he argued: “Corrections and bear markets have the same feel, which is buying doesn’t feel right. Selling feels good.” Lee, co-founder of boutique equity research firm Fundstrat Global Advisors, told CNBC’s “Squawk Box” he understands why investors are “really leery and cautious,” but he’s keeping the faith. “The market have been terrible. But that doesn’t mean this is how markets are going to behave two [or] three months from now,” he said. “There are lots of reasons to expect…
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Credit Suisse on Thursday posted a pre-tax loss for last year after a challenging fourth quarter in which it took substantial charges and warned it expected markets to remain volatile throughout the remainder of 2016. CEO Tidjane Thiam said only time – most likely a couple of quarters – would help to restore calm on the markets. “The slowdown in China is by design,” he told CNBC, as the country moves from an export-led economy to a consumption-led economy. It was a “difficult transition” for the country but the markets had got “extremely jittery”, with shares suspended daily for “very…
When OCZ told me it was sending a Trion 150 for testing, I was hesitant. I had reviewed the TLC NAND-based Trion 100, the company’s first SSD since being acquired by Toshiba. To put it mildly, I was not a fan, and hardly relished the chance that I might have to again bash one of my favorite storage companies. Well, the Trion 150 might just be the redemption product of the year. While still not a stellar performer writing large files, it’s twice as fast doing that as its predecessor. That means it’s no longer hanging out in hard drive…
After a brutal start to the year, professional investors find themselves in a miasma of confusion and loss — which could lead to even more dramatic moves in the sessions ahead. So contends Neil Azous, an investment strategist at Rareview Macro. “The professional community is either very confused or impaired at the moment, and possibly both,” Azous wrote in a Wednesday morning missive. Investors are currently suffering “duress” on their profit-and-loss statements, Azous explained, with mutual funds seeing declines of 7 percent, and retail investors “down somewhere between 5 and 15 percent.” What’s more, the pain is coming through multiple…
Ericsson and Amazon Web Services are partnering to help service providers use the AWS cloud to quickly roll out and expand services in areas like the Internet of Things. The partnership, announced Monday at Mobile World Congress, is part of Ericsson’s efforts to help carriers evolve from traditional data-center infrastructure to Web-scale technologies. Like enterprises, fixed and mobile operators want to become more agile so they can meet growing and changing demands from users. AWS and Ericsson are starting out by working with Australian carrier Telstra at the Gurrowa Innovation Lab in Melbourne. At the same time, Ericsson announced a…
Saira Malik, head of global active equity portfolio management for TIAA-CREF, believes the U.S. is not at risk of a recession. Instead, she’s using the pullback in the market this year to get long a group of stocks she thinks will outperform in the months ahead. “We aren’t worried about a recession at the present time as we believe developed markets can continue to demonstrate low single-digit positive GDP growth,” Malik told CNBC Pro. Her investment thesis is based on cyclical stocks taking over from momentum names as the leaders in 2016. In her own words, the investor explains why…
Facebook is extending its collaborative model for developing low-cost computing hardware to telecommunications gear as well, focusing on three areas — access, backhaul, and core and management. A focus of the new project appears to be on the development and delivery of communications technologies in both developed and emerging markets. The new Telecom Infra Project (TIP) aims to have operators, infrastructure providers, system integrators and other technology companies collaborate “on the development of new technologies and reimagine traditional approaches to building and deploying telecom network infrastructure,” wrote Jay Parikh, Facebook’s global head of engineering and infrastructure, in a post late…
One of the world’s riskiest investments may be getting ready for some relief rallies. Frontier markets, also known as pre-emerging markets, have seen significant pain in the past year. But according to some traders, the recent surge in oil may become a boon for those looking for a bounce in these exotic equity investments. Crude rallied 8 percent Wednesday, even as oil inventories climbed to record highs. Technician Craig Johnson of Piper Jaffray said renewed strength in oil could drive the frontier markets ETF (FM) higher, in what he sees as “more of a trade than a longer-term investment.” “This…
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Brendan McDermid | Reuters Traders work on the floor of the New York Stock Exchange. Check out which companies are making headlines before the bell: Starz — The movie channel operator was informed by Lions Gate that the movie studio intends to explore a “mutually beneficial” combination of the two companies. Clorox — The household products maker reported quarterly profit of $1.14 per share, 9 cents above estimates, with revenue very slightly below forecasts. Clorox benefited from higher prices, but was also hurt by a stronger dollar. The company also raised its full-year earnings outlook. ConocoPhillips — The oil giant…