Category: Economy

Dick’s Sporting Goods Shares Drop After JP Morgan Downgrade

(MSNBC) – Dick’s Sporting Goods shares sank more than 4.5 percent Thursday after J.P. Morgan said the retailer’s future gains may be limited because the company faces tougher comparisons and rising inventories. Analyst Christopher Horvers downgraded the retailer’s stock to neutral from overweight and trimmed his price target to $41 a share from $46. Horvers’ new price target on Dick’s implies a 10 percent upside from Wednesday’s close of $37.26. “Looking forward, gross margin-driven upside appears less probable given 3Q’s performance, changing comparisons, and rising inventory levels,” Horvers said in a note Thursday. “The latter appears to be a theme across...

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Lost in Historical Precedent: The Assassination of Jamal Khashoggi

WASHINGTON – This turbulent year bred as many fraying of international relations as it did renewed bonds of partnership. October 2nd, 2018 marked a day that would test several nations in their pursuit of global peace. The complexity, mystery, and tragedy surrounding the death of Washington Post journalist and Saudi national Jamal Khashoggi has played out over the last two months with fingers pointing in every direction and overwhelming pressure to uncover the truth. Khashoggi entered the Saudi consulate in Istanbul, Turkey, that October afternoon to retrieve paperwork for his upcoming marriage. He was never seen alive again by...

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The Big Markets (And Fund) Response to The Election

TAMPA (TBD) – Tensions are high in Florida as mandatory recounts loom, first machine at a 0.5% margin and then a human count if the margin decreases to 0.25%. As of Friday morning it has been over 60 hours since Broward County was required to have early voting tabulated and has failed to do so. Legal teams are revving the lawsuit engines and candidates are standing by the belief in their own win. This tinnitus for Floridians who voted in the 2000 Presidential election is especially deafening because then nominees George W. Bush and Al Gore were separated by...

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What On Earth Happened?

But by the end of the day the Financier Patisserie on Stone St. sitting just a block and a half from the trading floor was likely one of the few businesses that turned a profit that day. Guttural, fear-induced selling pulled the Dow Jones Industrial Average down over…

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