News

A Giant Fund Sold Alibaba, Apple, and Intel Stock. Here’s What It Bought.

South Korea’s sovereign-wealth fund made big changes in some of its biggest U.S.-traded stock investments.

Korea Investment Corp. cut investments in Alibaba Group Holding (ticker: BABA), Apple (AAPL), and Intel (INTC) stock in the third quarter. It also more than doubled its holdings of General Motors (GM) stock. KIC, as the fund is known, disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

KIC…

House to consider measure next week that could banish Chinese stocks from U.S. that don’t comply with audit rules

House members could vote as early as Wednesday to boot Chinese companies with shares on U.S. exchanges if they don’t adhere to audit-oversight rules. Companies such as Alibaba Group Holding Ltd.
BABA,
-0.44%

would be faced with making the transition to undergoing an annual audit reviewed by American regulators within three years or be kicked off the New York Stock Exchange or Nasdaq Stock Market. The bipartisan legislation, which requires a two-thirds majority for passage, unanimously passed the Senate in May. Chinese officials have criticized the bill, which is much harsher than a Securities and Exchange Commission proposal under consideration

Zoom Reports Quarterly Earnings on Nov. 30

Zoom Video Communications is set to report October quarter results on Monday.

The company’s (ticker: ZM) videoconferencing service has become a work-from-home standout, with everyone from major businesses, schools, and families using the service to connect while stuck at home. That has been huge for Zoom, which saw its July quarter sales soar 355% year-over-year.

Zoom…

Is the Stock Market Open Today? Here Are the Hours for Thanksgiving and Black Friday.

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Decorations for the Thanksgiving parade are installed outside of Macy’s on November 24, 2020 in New York City.


Jamie McCarthy/Getty Images

This Thanksgiving is sure to be unlike any other in recent years. Amid rising Covid-19 cases across the country, health officials have warned against air travel and large gatherings for the holiday. And yet, the

Dow Jones Industrial Average

recently closed above 30,000 for the first time. That doesn’t mean traders won’t take a well-earned day off.

Is the Stock Market Closed on Thanksgiving and Black Friday?

The New York Stock Exchange and Nasdaq will be closed

Only these five dividend stocks made the cut in a ‘safer and better’ screen

In May 2019, two veteran money managers shared their philosophy with MarketWatch readers that investors shouldn’t be overly focused on the highest dividend yields when selecting stocks for income.

A new screen using the same criteria suggested by one of them now highlights five companies that make the cut. They are listed below.

The original article featured comments from Mike Loewengart, who is now the managing director of investment strategy at E-Trade (which was acquired by Morgan Stanley in October) and Lewis Altfest, president of Altfest Personal Wealth Management, which manages about $1.4 billion for private clients in New York.

Best Buy beats profit, revenue and same-store sales expectations, but stock falls

Shares of Best Buy Co. Inc.
BBY,
+2.43%

fell 2.1% in premarket trading Tuesday, although the consumer electronics retailer reported fiscal third-quarter profit, revenue and same-store that rose well above expectations, boosted by strong growth in digital sales. Net income for the quarter to Oct. 31 grew to $391 million, or $1.48 a share, from $293 million, or $1.10 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $2.06 from $1.13, beating the FactSet consensus of $1.71. Revenue rose 21.4% to $11.85 billion, above the FactSet consensus of $11.00 billion, as same-store sales growth

Wall Street set to rally as Oxford/AstraZeneca vaccine shows promise

Stock futures rose on Monday, indicating Wall Street was poised to rally at the opening bell, as investors weighed new COVID-19 infections — which are leading to rising deaths and a record number of hospitalizations across the U.S. — against the rapidly unfolding timetable for the deployment of a vaccine.

Markets have been broadly encouraged by the steady flow of positive news over a coronavirus cure. On Monday, University of Oxford and AstraZeneca (AZN) revealed that their candidate demonstrated efficacy of 70.4% in two large-scale trails, If a lower dose is used, then a second, full dose, the

Must-Know Rules for Converting a 401(k) to a Roth IRA

If you’re considering leaving a job, and you have a 401(k) plan, you need to stay on top of the various rollover options for your workplace retirement account. One of those options is rolling over a traditional 401(k) into a Roth IRA.

This can be a very attractive option, especially if your future earnings will be high enough to knock into the ceiling now placed on Roth account contributions by the Internal Revenue Service (IRS).

But regardless of the size of your salary, you need to do the rollover strictly by the rules to avoid an unexpected tax

Giant Pension Slashed Tesla, GE, AT&T Stock Positions. Here’s What It Bought.

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The investment board of Canada Pension Plan materially cut investments in Tesla, GE, and AT&T stock in the third quarter. Canada’s largest pension also bought Citigroup stock.


Kenzo Tribouillard/AFP via Getty Images

Canada’s largest pension made major changes in its U.S.-listed investments.

The investment board of the Canada Pension Plan slashed positions in

Tesla

(ticker: TSLA),

General Electric

(GE), and

AT&T

stock (T) in the third quarter. The board of the CPP also purchased

Citigroup

stock (C). The pension disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.

The CPP

The Outlook for Banks Is Brightening. Why It’s Time to Lighten Up on JPMorgan Stock.

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the Citibank logo is seen inside a branch in Washington, DC


Alastair Pike/AFP via Getty Images

While the coronavirus spread is rising, vaccines ultimately will allow for more normal activity. One analyst says that means something very different for

JPMorgan

Chase and

Citigroup.

Both companies would benefit from a recovery, no doubt. They wouldn’t have to reserve as much money for anticipated credit losses, and they could take back some of the money already set aside. They could also resume purchases of their own shares, something regulators halted during the pandemic.

Keefe Bruyette & Woods analyst