David Moon Columnist Published 7:01 PM EDT Jun 18, 2019 A number of my football teammates in college regularly prayed for victory. I always assumed that God didn’t care if we beat Auburn, but in hindsight, I realize that Reggie White was simply connecting two topics about which he was both knowledgeable and passionate – then ascribing some causality between the two. Investors do it every day, connecting their beliefs (about politics, not prayer) to their expectations (about investments, not football.) In the eight years following Barack Obama’s election, the S&P 500 increased an average of 12 percent annually. Since Donald Trump’s election, the S&P 500 has increased 12 percent annually. Wall Street doesn’t prefer Democrats, Republicans, career politicians or real estate developers. It prefers earnings. Look at a chart of corporate earnings and stock prices. It isn’t a perfect relationship, but it’s pretty close. (If you … [Read more...] about Might Trump’s actions depress stock prices?
And stock price
IntriCon shares cool after secondary offering IntriCon, the best-performing Minnesota stock since 2017, cooled a bit last week amid a secondary stock offering that netted nearly $90 million, less underwriting fees and $27.5 million in proceeds from stock sales insiders. IntriCon’s stock price has run from about $8 per share a year ago to more than $68 on Aug. 15, just before the stock was priced and sold. The secondary stock offering was priced at $55 per share, represented a 13.5 percent discount to its market value over the past 30 days, or about a 3.5 percent premium to the upticking stock, according to Chief Financial Officer Scott Longval. The price of IntriCon, dropped after the offering to as low as $56 per share, reflecting a 25 percent increase in shares outstanding. Insiders sold about 25 percent of their holdings, including CEO Mark Gorder, a 40-year veteran who had not previously sold shares of the stock, and eight other officers and directors. Gorder, 71, sold … [Read more...] about Intricon’s stock price reflects investor enthusiasm even amid dilutive stock offering
CLEVELAND, Ohio -- FirstEnergy's share price hit a 52-week high Thursday morning as news of its proposed "definitive settlement" with its bankrupt subsidiary FirstEnergy Solutions spread among investors. The settlement, filed this week in federal bankruptcy court, is FirstEnergy's latest effort to shed itself of past and future financial responsibilities connected with FES and a second subsidiary, FirstEnergy Nuclear Operating Co. FirstEnergy's stock price on the New York Stock Exchange hit $37.69 Thursday morning. The price declined slightly, to $37.38 in early-afternoon trading. The share price has been as low as $29.34 over the past year. The 184-page settlement document, cobbled together by an army of lawyers, commits FirstEnergy to providing "more than $1.1 billion of total value" to the investors, banks, bondholders and other companies stuck with the debt owed by FES. Included among the primary benefits would be a $225 million cash payment from FirstEnergy and another $628 … [Read more...] about FirstEnergy stock price up on proposed $1 billion court settlement with FES and creditors
U.S. stocks have been on a roll, setting repeated new record highs for the S&P 500 and Nasdaq Composite. The Dow Jones industrials index has been the laggard, weighed down by losses in trade-sensitive names like Boeing. However, it's still within 2 percent of its Jan. 26 peak, and it seems likely to cross that mark any day now. Stock index futures on Thursday morning were down slightly after four straight days of gains on the major indexes, but at this point, August seems sure to be another month of rising stock prices -- the fifth in a row for the S&P 500 and Nasdaq and the second for the Dow Jones industrials. This is already the longest bull market ever, and the current U.S. economic expansion is also one of the longest in history. Yet nagging concerns remain, from the specter of political shenanigans (impeachment?) looming after Election Day to the deepening trade rift between the U.S. and China. But equity investors apparently couldn't care less. Here are three reasons … [Read more...] about 3 forces pushing stock prices higher
I once worked with a guy who showed a wry sense of humor. Where other office desks identified their occupants with uniform badges bearing their names, his emblem was both boastful and bashful. It read, “Valued Employee.” I’d bet his paycheck didn’t support the claim. Some people may measure their worth in job promotions or the personal satisfaction of tasks well done. But for the rest, the yardstick is what covers the rent, pays for the groceries and keeps the kids in shoes — U.S. currency, good for all debts, public and private. Self-fulfillment gurus be damned. We’re in it for the money. And we’re getting shortchanged, mostly by design rather than accident. Where government could help, it too often hinders. It has cleared the path to industry consolidations with slipshod antitrust enforcement. The average size of U.S. public companies tripled in the last 20 years, giving employers the upper hand over labor. Agencies and courts that once gave … [Read more...] about Tax cuts, check; profits, check; high stock prices, check; wage increases … well, the workers must make do