A CNBC report citing sources has revealed that Valeant Pharmaceuticals Intl Inc (NYSE:VRX) and Bill Ackman’s Pershing Square has approached the Securities Exchange Commission (SEC) against Allergan, Inc. (NYSE:AGN) to make complaints that the latter is making false and misleading claims about the company in relation to its Bausch & Lomb business. Valeant also alleged in its complaint that such statements are aimed to disrupt the share prices of the company. Furthermore, the report highlights that Robert Khuzami, who is a former enforcement Director of the SEC and now working with Valeant Pharmaceuticals Intl Inc (NYSE:VRX), is leading the efforts…
Author: Neha Gupta
Amid the rising expectations with respect to the hike in interest rates, Brent Wilsey of Wilsey Asset Management throws light on the stocks like Bed Bath & Beyond Inc. (NASDAQ:BBBY) that are an attractive bet versus the Utilities SPDR (ETF) (NYSEARCA:XLU), which are to be played down at the moment, during an interview with the Fox Business. Wilsey is majorly bullish on the equity market, but the one stock that he picks up to be unusually attractive is Bed Bath & Beyond Inc. (NASDAQ:BBBY). According to Wilsey, the retail sector has been badly hurt off late, but sees the employment…
The market has cheered Microsoft Corporation (NASDAQ:MSFT)’s bold decision to let go off, nearly 18,000 of its employees, a number higher than expected and 14% of its entire workforce, including that of Nokia Corporation (ADR) (NYSE:NOK). Half of the job cuts include those from Nokia workforce, thus, clearing concerns of investors that the $7 billion acquisition will stand to impact its earnings. In the meanwhile, NBR took the insights from David Garrity, Principal of GVA Research about how the massive layoffs will help Microsoft Corporation (NASDAQ:MSFT) to reshape its future. Garrity is positive about the focus of the company’s CEO…
Apple Inc. (NASDAQ:AAPL) and Netflix, Inc. (NASDAQ:NFLX) are among the companies that are set to post their earnings this week amidst the ongoing uncertainty and tension in Russia & Ukraine and Israel & Gaza. The direction in which the market will head in the week remains uncertain although there are stocks according to Jim Cramer on ‘Mad Money’ CNBC would benefit from tensions in this countries as they will overshadow their earnings. Despite the uncertainty, Cramer remains bullish on Apple Inc. (NASDAQ:AAPL) and Netflix, Inc. (NASDAQ:NFLX) predicting that they will post impressive earnings. The market has had a ruthless effect on…
Microsoft Corporation (NASDAQ:MSFT) job cuts have not gone well with the Finish government on the fact that Nokia Corporation (ADR) (NYSE:NOK) employs most of its employees in the country. The cuts are sure not to go well with the employees but on the other hand CEO, Satya Nadella, has reiterated they were necessary if the company was to become more agile and efficient. CNBC’s Jon Fortt maintains that the cuts were necessary from a structural perspective taking into consideration the fact that when two companies merge cuts are always necessary to reduce redundancy on job posts that overlap each other.…
Jim Cramer and his team on CNBC discussed Microsoft Corporation (NASDAQ:MSFT) and its restructuring plans that have left a lot to be desired about the global software giant’s future. The company announced workplace restructuring where it intends to eliminate as many as 18,000 positions over the next year. But is cutting jobs enough to turnaround the company? Jim Cramer weighed in on the matter. According to Cramer, Satya Nadella, who took over from Steve Ballmer earlier this year as the CEO of the software powerhouse, is sending out a signal that a new Microsoft Corporation (NASDAQ:MSFT) is emerging, and they…
International Business Machines Corp. (NYSE:IBM) reported a ninth consecutive quarter of declining sales and demand something that continues to raise lots of concern in the industry especially so with Duquesne Capital Management’s CEO, Stanley Druckenmiller, in an interview with CNBC. The recent drop in hardware and computer services demand has highlighted the need for an urgent plan to get more revenue from other businesses like cloud computing. A major concern in the industry according to, Druckenmiller, is the way companies are more interested in buying stock and financial engineering rather than focusing on investing on core business operations. “Kevin and I…
The shares of General Electric Company (NYSE:GE) hinted at the positive sentiments after the company posted in line results for its second quarter. According to a statement, General Electric Company (NYSE:GE) posted operating earnings of $3.9 billion, translating into operating earnings per share of $0.39, excluding items, and reflecting an increase of 8% year-over-year. During the same quarter, the revenues of the company came in at $36.2 billion versus the estimate of $36.30 billion, which implies a 3% growth on the year. Overall, the analysts appeared positive about the results, which can be figured out by the comments of Jack De…
During ‘Mad Money’ show aired on CNBC, Jim Cramer yet again revisited three of the most important stocks, J C Penney Company Inc (NYSE:JCP), Royal Caribbean Cruises Ltd. (NYSE:RCL) and Globalstar, Inc. (NYSEMKT:GSAT). While Cramer does not regard J C Penney Company Inc (NYSE:JCP) as the one with an excellent fundamental, he undoubtedly appeared bullish on both Royal Caribbean Cruises Ltd. (NYSE:RCL) and Globalstar, Inc. (NYSEMKT:GSAT). Amid an environment, where a lot of companies are becoming an attractive takeover target, Cramer is absolutely negative on J C Penney Company Inc (NYSE:JCP) to be anywhere in the list of acquisitions. Cramer…
Cisco Systems, Inc. (NASDAQ:CSCO), Intel Corporation (NASDAQ:INTC) and Microsoft Corporations (NASDAQ:MSFT) remain the top picks for ‘Mad Money’ trader, Jim Cramer, on CNBC, being some of the stock in the old tech industry with the potential of offering a good upside going forward. Intel Corporation (NASDAQ:INTC) makes its way into the top of the list after reporting solid second-quarter results that saw its stock rally in the market by 9%. Intel according to Cramer continues to rally in the market at the back of increased demand for computers from corporates and a reduction of expenses on unnecessary products. “Intel can…
Even as the Federal Reserve’s Chairwoman, Janet Yellen speaks cautiously about overstretched small sized companies, CNBC’s Jim Cramer finds himself enticed to the story of Fiesta Restaurant Group Inc (NASDAQ:FRGI), $1.5 billion worth quick serve restaurant chain. Cramer is keeping high hopes that the company is full of potential to raise its bar from being a regional player to a national one. Further, Cramer detailed out that Fiesta Restaurant Group Inc (NASDAQ:FRGI) spun off in May, 2012 from Carrols Restaurant Group, Inc. (NASDAQ:TAST), after which it was listed at a price of $11.2 and since then, the company had little…
Analysts at Wall Street are in agreement that eBay Inc. (NASDAQ:EBAY) has been a laggard in the industry at the back of increased competition and cyber-attacks that have marred its operations for the better part of the year. Running into its second-quarter earnings, many analysts remained bearish on the company’s ability to post impressive earnings. eBay Inc. (NASDAQ:EBAY) got an uplift in the market according to Dan Nathan on CNBC after the entry of Carl Icahn, who manages Icahn Capital, a move that saw its stock trading at highs of $60 but has since dropped to the $50 mark. “Ebay…