May 24, 2016 |
Robert Johnson attended Warren Buffett's most recent Berkshire Hathaway shareholders meeting, and on the flight out to Nebraska he was pleasantly surprised to learn that the book he had authored, Strategic Value Investing , had landed on the Oracle of Omaha's recommended-reading list. Credentials established, Johnson, who is also the president of the American College of Financial Services in Bryn Mawr, gave us his outlook on which sectors of the economy might come out ahead under a President Trump, and which under a President Clinton.
April 18, 2016 |
What a year it was - and will be for - David L. Richter, 49, chief executive of Hill International Inc., the Philadelphia-based construction project and claims management company. (It had the contract for the first Comcast tower and is now overseeing construction at the new state prison in Graterford.) Hill reported record 2015 revenues of $720.6 million, up 12.3 percent. Profits rose to $6.9 million, up from a $6.1 million loss. Yet they would have been higher had not the depression in oil prices sliced $3.4 million from the net in bad debt expenses from clients in the Middle East, where Hill gets about 45 percent of its revenues.
February 9, 2016
There are few signs of an impending recession. So why is everyone using the "R" word? Wall Street's thinking goes like this: Flat returns in the stock market make it harder for the Federal Reserve to raise interest rates, and in turn, the Fed's lack of action concerns investors about U.S. economic expectations. That's the feedback loop, as explained by local strategists and money managers. Guy LeBas, fixed-income strategist at Janney Montgomery Scott in Center City, dove into the details.
January 17, 2016
THE STOCK market capped the first two weeks of 2016 with a steep slide Friday that sent the Dow Jones industrial average down nearly 400 points. All three major stock indexes - the Dow, the Nasdaq composite and the Standard & Poor's 500 - are now in what's known as a correction, or a drop of 10 percent or more from their recent peaks. The market has been on a stomach-churning ride since the start of the year, wrenched up - but mostly down - because of alarm over a slowdown in China and the plunging price of oil to its lowest level in 12 years.
January 8, 2016 |
NEW YORK - There's no reason for panic. Worry, yes, but not panic. That was the opinion of some U.S. investment strategists after another free-fall on China's main stock market reverberated around the globe yesterday and sent the Dow Jones average to a loss of nearly 400 points. Stock prices in China fell so fast that for the second time in four days, circuit-breaker mechanisms kicked in and halted trading, this time after just 30 minutes. China's tumbling stock prices are, in themselves, nothing for investors outside the country to panic over.
January 2, 2016 |
As the epidemic of addiction to prescription pain medications gained ever more national attention last year, a Wayne drug firm developing painkillers designed to be less prone to abuse had the best-performing stock in the Philadelphia region. Shares of Egalet Corp., which employs 50 locally, soared 94 percent, to $11.02 from $5.59. Egalet generated its first revenues, from licensed products, in 2015 and applied last month for Food and Drug Administration approval of a morphine tablet that can't be chewed or crushed and snorted, which is one way addicts get a quicker high.
January 1, 2016 |
Billionaire investor Carl Icahn's investment firm and Philadelphia-based Pep Boys - Manny, Moe & Jack said Wednesday that they had reached a deal in which Icahn will buy the iconic but profit-challenged 801-store auto parts, tires, and repair chain for $1 billion, or $18.50 a share. The cash price is $3.50 a share, or about $150 million, more than Japan-based tire giant Bridgestone agreed to pay for Pep Boys in October. It is also double what Pep Boys was worth on the stock market last spring, before New York investor Mario Gabelli, whose specialties include auto-related stocks, forced Pep Boys to put three of his allies on its board and pressured the company into promising to look for a buyer.
November 21, 2015 |
NEW YORK - The stock market closed out its best week of the year Friday, as big gains by retailers and technology companies pushed major indexes upward. Stocks faded as Friday wore on, but still finished higher. The S&P 500 index climbed almost 3.3 percent this week. By just a hair, that was its biggest weekly gain in 2015. Stocks climbed Monday and Wednesday as the U.S. market did not seem to be affected by a string of unsettling international events, including last week's terrorist attack in Paris.
August 27, 2015
A NEWSCASTER broke into the regularly scheduled program with breaking news: The Dow Jones industrial average was down more than 1,000 points. The network began showing frenzied people on the floor of the New York Stock Exchange. As each image flashed across the screen, I became more fearful. Despite a parade of experts brought on to tell me that I shouldn't panic, my pressure began to rise. So I raced to talk to my husband in the next room. "Honey, have you seen the news?" I screeched.
July 10, 2015 |
Since June 12, the Shanghai Composite Index, the leading Chinese benchmark for stocks, has lost a third of its value, including a 6 percent drop Wednesday that shook global markets. "The number of people involved in the decline may total in the tens of millions. Some of them probably lost their life savings," said stock market scholar Jeremy Siegel, a finance professor at the University of Pennsylvania's Wharton School. "It's very much like a market in a bubble. " China's stocks are back to the levels of last spring, so many longtime investors are not feeling absolute pain yet, Siegel added.