InvestingChannel

Stocks fell from their all-time highs on Monday, the penultimate trading day of a record-breaking year for equities. The Dow Jones Industrials faltered 117.32 points from Friday’s record close of 28,527.94. The S&P 500 fell 20.76 points to 3,219.26. Tech was the worst-performing sector among the 11 S&P 500 groupings.The NASDAQ got clobbered 86.44 points to 8,920.17. U.S. equities have enjoyed a strong rally in December, with the main indexes hitting record highs last week amid year-end optimism. The S&P 500 has notched five straight weeks of gains, rising 29.2% in 2019. The benchmark is within reach of a historic year, sitting about a percentage point away from having its best year since 1997. Some of the biggest winners of the year, including Apple, Microsoft and Visa, all slipped about 1% on Monday as investors took profits. Apple has skyrocketed 82%...

China Finance Online Co (NASDAQ:JRJC) reported a third-quarter loss of $0.09 per share, versus a year-ago loss of $0.26 per share. Its sales slipped to $8.051 million from $8.614 million. The Beijing-based company reported Thursday net revenues were $8.1 million, as revenues from advertising .4% year-over-year.Net loss attributable to China Finance Online was $2.1 million, compared with a net loss of $6.0 million in the third quarter of 2018. The Company's operational metrics continued to improve and operational efficiency continued to increase. The Company's continued investment in fintech started to show results. Gross profit was $5.0 million, compared with $5.0 million in the third quarter of 2018 and $5.6 million in the second quarter of 2019, respectively...

HIGHER: Amazon (AMZN), up fractionally after announcing a "record-breaking" holiday season... KKR (KKR), up 2% after announcing a definitive agreement to acquire, alongside Alberta Investment Management, a 65% equity interest in the Coastal GasLink Pipeline Project from TC Energy (TPR). Tiffany (TIF), up 1% after reporting an interim holiday period sales increase of 1%-3%... Kadmon (KDMN), up 4% after entering into a collaboration to form a joint venture with Meiji Seika Pharma to exclusively develop and commercialize KD025 in Japan and certain other Asian countries. Under the terms of the transaction agreements, Kadmon will receive payments which could exceed $29M, resulting from various milestones. LOWER: Spring Bank Pharmaceuticals (SBPH), down 44% after announcing that it has stopped dosing and enrolling patients in its Phase 2b CATALYST trials which are examining the use...

Equities in Toronto edged lower on Tuesday in thin trading ahead of Christmas as gains in gold stocks were offset by losses in health-care and financial shares. The TSX Composite Index slipped 31.61 points to begin Christmas Eve day at 17,128.71. The Canadian dollar sank 0.03 cents to 76.03. The NASDAQ slid 3.15 points to 8,942.50. Investors cheered the news this week that China is taking action to stimulate its economy. The country said it will boost imports by cutting tariffs on over 850 products. Beijing also said it would study additional cuts in the bank reserve-ratio requirements. The moves come as China and the U.S. agreed on a phase one trade deal and the two sides are working to ink the agreement. The U.S. stock market closes at 1 p.m. ET on Tuesday for Christmas Eve and will be closed on Wednesday for Christmas. Thursday and Friday will be regular trading days. The three major averages all posted...

Canada's main stock index opened higher on Monday, aided by a fresh wave of trade optimism and rise in material stocks. The TSX Composite Index gained 41.78 points to start the penultimate day before Christmas at 17,160.22. The Canadian dollar sank 0.15 cents to 75.92 cents U.S. TD Securities raises price target on Aritzia to $22.00 from $21.00. Aritzia picked up 24 cents, or 1.3%, to $19.35. BMO raised the price target on Pinnacle Renewable Energy to $10.25 from $9.00. Pinnacle added four cents to $9.90. On the economic calendar, Statistics Canada reported that this country’s Gross Domestic Product edged down 0.1% in October, the first decline in eight months. Goods-producing industries were down 0.5%, the second consecutive monthly decline. Services-producing industries were...

Aptose Biosciences Inc. (T.APS) hit a new 52-week high of $6.90 Friday. No news announcements today. Balmoral Resources Ltd. (T.BAR) hit a new 52-week high of 44 cents Friday. No news announcements today. Brookfield Global Infrastructure Securities Income Fund (T.BGI.UN) hit a new 52-week high of $7.77 Friday. No news announcements today. CT Real Estate Investment Trust (T.CRT.UN) hit a new 52-week high of $15.95 Friday. No news announcements today. Capstone Mining Corp. (T.CS) hit a new 52-week high of 73 cents Friday. No news announcements today. Exchange Income Corporation (T.EIF) hit a new 52-week high of $45.40 Friday No news announcements today. Enghouse...

From the NAR: Existing-Home Sales Descend 1.7% in November. Existing-home sales fell in November, taking a small step back after October’s gains, according to the National Association of Realtors®. The Northeast and Midwest both reported growth last month, while the South and West saw sales decline. Total existing-home sales completed transactions that include single-family homes, townhomes, condominiums, and co-ops, decreased 1.7% from October to a seasonally-adjusted annual rate of 5.35 million in November. However, sales are up 2.7% from a year ago (5.21 million in November 2018). Total housing inventory at the end of November totaled 1.64 million units,down approximately..

Higher oil and natural gas prices in 2018 raised the proved reserves of oil and gas in the United States to new all-time highs last year, the Energy Information Administration (EIA) said in its new annual report. Oil and natural gas proved reserves beat the previous record from the previous year, when rising prices and continued shale resource development in 2017 helped push U.S. reserves to what was then record high volumes. In 2018, U.S. proved reserves of crude oil jumped by 12 percent, from 39.2 billion barrels at the end of 2017 to 43.8 billion barrels at end-2018, for the new record in proved oil reserves, according to EIA estimates.Proved reserves of natural gas rose by 9 percent, from 464.3 trillion cubic feet (Tcf) at end-2017 to 504.5 Tcf at year-end 2018....

Navistar International Corporation (NYSE:NAV) saw its shares dive on early Tuesday markets, on announcing fourth-quarter results. The company, based in Lisle, Illinois, announced Q4 2019 net income of $102 million, or $1.02 per diluted share, compared to Q4 2018 net income of $188 million, or $1.89 per diluted share. Adjusted net income for the fourth quarter was $114 million versus $189 million in the same period one year ago.
Fourth-quarter 2019 adjusted EBITDA was $219 million versus $322 million one year ago.
Revenues in the quarter were $2.8 billion, down 16% compared to fourth quarter 2018. The revenue decrease was largely driven by very strong fourth-quarter 2018 vehicle chargeouts following supplier production constraints in the third quarter of that year...