Some traders are avoiding the energy space after WTI crude broke below $30 on Tuesday, but one analyst believes that the banks are actually insulated from the underperformance of the energy space. Top banking analyst Mike Mayo of CLSA said on CNBC’s “Fast Money Halftime Report” that he doesn’t think that banks have significant exposure to the problems in energy. “Non-banks have originated only a quarter of [large oil-and-gas loans], but have two-thirds of the criticized assets,” Mayo said. “The problems in oil and gas are outside of the banking industry. In this case, don’t blame the banks.” ‹ Power…
Author: Deep
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Turns out the rumors were true. Two new color variants – Platinum and Rose Gold – of the Samsung Gear S2 Classic smarwatch have been spotted at the Consumer Electronics Show (CES). The new Gear S2 variants – especially the Rose Gold model – shouldn’t come as a surprise given that competitors like Motorola, Huawei and Apple are already offering their smartwatches in that particular color option. As for Platinum, Samsung apparently likes the color as some of its latest flagship smartphones such as the Galaxy Note5 and Galaxy S6 edge+ are also available in Platinum variants. If you aren’t…
Intel shares fell in extended trading, even though the tech giant topped analysts’ expectations in its earnings announcement. The company posted fiscal fourth-quarter earnings of 74 cents per share on $14.9 billion in revenue. Analysts expected Intel to post earnings of 63 cents per share on $14.8 billion in revenue, according to a consensus estimate from Thomson Reuters. “Our results for the fourth quarter marked a strong finish to the year and were consistent with expectations,” said Intel CEO Brian Krzanich in a statement. WebMD dipped slightly after the bell. Shares of the online health-care information website hit a new…
Good thing these aren’t Game of Thrones spoilers – 3D renders of the Samsung Galaxy S7leak all the time. These come from Mobile Fun, a UK retailer of smartphone accessories, and show off Olixar cases for the upcoming flagship. There are cases for the Galaxy S7 edge listed as well, though those don’t have images to go with them. There’s nothing on the bigger 6″ Galaxy S7+/ S7 edge+ versions. These cases are for the 5.1″ Galaxy S7 and show the narrow Home button. Leaks like this come in two flavors – with a narrow button or with a bigger…
It’s the day after the Powerball lottery. The joke on trading desks all week is that Wall Street has been selling stocks to play the lottery. Now the lottery is over, and we are rallying. This makes sense, no? Coming into work, the new joke was that we were rallying but it would all fall apart by midday, because that is all we do anymore Rally at the open, fall apart midday. It hasn’t happened today, thanks to a rally in oil and a set of indicators that have been in oversold territory for days on end, including a high…
Alcatel is bringing five new mobile devices to this year’s CES – two smartphones, a phablet, and two tablets. They will be available for checkup on January 6 in Las Vegas for anyone who’s interested. Alcatel Pixi 3 (8) The Alcatel Pixi 3 (8) is an 8″ slate running on the latest Windows 10 Mobile. It packs an IPS display of 1280 x 800 pixels, and is powered by the Snapdragon 210 chip with a quad-core 1.3GHz processor, Adreno 304 GPU, and 1GB of RAM. The Pixi 3 (8) supports SIM cards and can tap into GSM, 3G, and 4G…
From the beginning of the year through Wednesday’s close, shares ofWilliams and Freeport-McMoRan fell 47 percent and 45 percent, respectively, making them the worst-performing S&P 500 components by far. On Thursday, Williams led the index with a 21 percent rally, as Freeport nipped at its heels with a 9 percent rise. Crude oil’s more than 3 percent bounce no doubt contributed to the change in fortunes, as both companies are highly exposed to energy prices. But there appears to be more to it than that. An interesting dynamic is unfolding whereby the worse a stock was hit in the year…
This has been the worst start to a year on record, triggering bearish warning signs on several of our New Year seasonal indicators. There have been few places to hide, barely any respite and little solace. With our “Santa Claus Rally” and “First Five Days Early Warning System” in the red and the Dow’s December closing low violated, a positive reading from our full-month January Barometer would go a long way in improving the prospects for the year. But there is no doubt about it, the market is on shaky ground, and the odds of further downside are increasing. Apart…
When it comes to the corporate earnings recession, the damage is spreading well beyond the energy sector. Fourth-quarter earnings would be negative even without counting energy, the first time that’s happened since S&P 500 profits turned negative in 2015, according to the latest numbers from S&P Capital IQ. The projection outside of energy is barely negative, at -0.1 percent, but still represents a substantial landmark. The 40 companies that make up the energy sector are collectively expected to report a 70.4 percent earnings decline from the same period a year ago, S&P Capital IQ estimates show. That will be the…
Prepare to kiss your tangled headphones goodbye – a report allegedly from the iPhone 7 supply chain claims that Apple is indeed dropping the analog 3.5mm audio jack. Instead, wired headphones will connect to the Lightning port and, of course, there’s the wireless Bluetooth option too. A Lightning-to-3.5mm will also exist. Apple’s motives are two-fold – the make the iPhone thinner and to push sales of wireless headphones. We’re going back to the dark ages of proprietary audio. Also, your expensive Lightning headphones probably won’t work with your computer and other non-Apple devices. It seems that the Lightning port does…