Consumer Stocks Losing Some Ground During Afternoon Trade

Consumer Stocks Losing Some Ground During Afternoon Trade

Consumer stocks were mostly higher in recent trade, with shares of consumer staples companies in the S&P 500 climbing nearly 0.5% this afternoon while shares of consumer discretionary firms in the S&P 500 were posting a more than 0.4% gain. In company news, Office Depot (ODP) fell sharply on Wednesday, sinking more than 20% to a session low of $3.66 a share after the specialty retailer last night said it […]

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SEC Forensics Unit Warned of ‘Serious Deficiencies’ in Cyber Defense Months Before 2016 Hacking Incident

SEC Forensics Unit Warned of ‘Serious Deficiencies’ in Cyber Defense Months Before 2016 Hacking Incident

The forensics unit of the U.S. Securities and Exchange Commission, tasked with identifying cyber threats to sensitive information held by the SEC and provide security capability, cautioned the agency’s Office of Inspector General (OIG) about the “serious deficiencies” within the unit two months before the SEC was hacked in October 2016. According to Reuters, the Digital Forensics and Investigations Unit delivered a three-page memo to the OIG in August 2016, […]

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Tech Stocks Slowly Building on Morning Decline

Tech Stocks Slowly Building on Morning Decline

Technology stocks were narrowly lower this afternoon, with shares of tech companies in the S&P 500 losing almost 0.2% in value. In company news, Sequans Communications (SQNS) plunged Wednesday, dropping almost 40% to a session low of $1.84 a share, after the 4G chipmaker for wireless devices late Tuesday lowered its Q3 revenue guidance below analyst estimates. The company is now expecting revenue during the three months ended Sept. 30 […]

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Health Care Stocks Still Rising

Health Care Stocks Still Rising

Health care stocks were drifting off their prior gains in afternoon trading, with the NYSE Health Care Index climbing more than 0.1% while shares of health care companies in the S&P 500 were up almost 0.4% as a group today. In company news, Rigel Pharmaceuticals (RIGL) was higher Wednesday, at one point climbing almost 11% to a session high of $3.58 a share and reversing steep declines in after-hours trading […]

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Trump Tax Plan Progress Raises Prospect of Significant EPS Growth, May Revive Trump Trades

Trump Tax Plan Progress Raises Prospect of Significant EPS Growth, May Revive Trump Trades

Progress made in Washington in discussions about passing tax proposals put forward by US President Donald Trump may revive “Trump trades” that spurred US equity markets earlier in the year. If passed into law, the changes will lead to significant earnings upside and faster economic growth, Goldman Sachs said. After strides towards agreement in the Senate on the tax package, Goldman political economist Alec Phillips lifted his estimate of the […]

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