Markets shrug off profits recession as Dow climbs
The Dow Jones and S&P 500 resist earnings gloom as Alcoa kicks off earnings season with better results than feared. Analysts expect the S&P 500 to exit the profits recession by Q3 2016, with profits forecast to fall in Q2 before turning positive in Q3. The market remains buoyant on anticipated stronger future earnings.
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Dow
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John Augustine
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USA Today
SigFig users favor Nike as top buy among conservative investors
SigFig reports over half a million investors with $200 billion in assets use its tracking service. Among investors holding under 30 percent equities, Nike (NKE) emerged as the most-bought stock in early April based on SigFig analysis.
MENTIONED IN THIS ARTICLE
SigFig
Nike
NKE
USA
America
MGM Growth Properties Flips 50 Million IPO Shares
MGM Growth Properties sold 50 million shares at $21 each in its IPO. The offering priced at $21, with stock activity showing a $22.01 price and a $1.01 daily change. Hansen Medical to be bought by Auris Surgical Robotics for $4 per share. Frederic Moll cofounder and CEO of Auris noted.
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MGM Growth Properties
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London
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THE
Associated Press
Usatoday.com
MONEY
Coca Cola Faces Profit Drop Amid Growth Uncertainty
Coca Cola reported a first quarter adjusted profit of 45 cents a share, beating estimates but down 6 percent from a year earlier. Shares fell 4 percent to about $45 as investors weigh revenue declines and a 2017 rebound in profits. Analysts see potential to about $47.29 in 18 months despite a challenging 2016 with profit and revenue tailwinds fading.
MENTIONED IN THIS ARTICLE
Coca-Cola
Standard & Poor
Coke’s
S&p
Coke
Ride hailing overtakes taxi and car rental for business travel
A Certify review shows corporate trips on Uber and Lyft nearly doubled in Q1 from 2015 as ridesharing gains outsell taxis and rentals. Uber led with over 43 percent of transactions, Lyft rising on GM funded growth, while taxi shares slid from 37 percent in 2014 to 14 percent now.
MENTIONED IN THIS ARTICLE
Uber
Lyft
Bob Neveu
Neveu
Certify
General Motors
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