Museum, and also to all of you at home who are watching via cspan. We have this evening a wonderful presentation by lord browne, and then followed by discussion with professor Daniel Minisini of rice university. So without further ado im going to hand it over to lord browne come help me welcome john browne to houston. [applause] ladies and gentlemen, i want to thank the Houston Museum of Natural Science for inviting me, to spend some time this week. For someone who is on the boards of several museums and galleries, i have a deep appreciation for the role that institutions like this play in the local community and, indeed, in society more generally. As a window on the past and explainer of the present and a guide to the future, they are indispensable resources which go above and beyond what you can read in books. Houston is fortunate to have this place, and its a great pleasure to be here. As a natural scientist and subsequently an engineer, ive always sought to maintain a Broad Perspec
It always leads us to our road map. It starts not with the stock market but with the big Company Named walmart and its shares, which are set to open at a new all time high. The retailer delivers an earnings beat, also forecast what is quote a good Holiday Season plus, Global Technology spanning slowdown concerns, cisco shares, they are sink ahead of the bell as we told you. Rain or shine, we always like that he will be with us for an interview and Elizabeth Warren on attack. The president ial hopeful dropping a fierce new campaign ad today shes targeting a handful of outspoken billionaires who have criticized her publicly. Many of them right here on our air. Lets get to shares of walmart they are on track as i said to open at a few all time high, quarterly earnings, Comparable Store sales up for a 21st consecutive quarter and ecommerce sales, get this, 41 in the u. S. Was what they were up that was helped by growth on what they said was Online Grocery. Walmart also raises its full year
Just because a deal gets done that doesnt mean it will make sense. The dow finished flat, s p advanced 0. 7 , we need to address the merger mania because this market was dominated by deals today. Both real and imagined before we get into the weeds let melee out my position for you. I love mergers and acquisitions. The higher the stock market goes and it reduces the supply of stock floating around and anything that takes out supply is good news even if its applied to buy backs, however, i dont love speculating on mergers and acquisitions especially when acting on a tip as always, i say tips are for waiters if youre not for sure a deal is coming, Accurate Information is illegal. If you dont know, then youre just gambling. My rule of thumb never bet on a stock because of the speculation, only buy a stock of a company with healthy fundamental. Any potential deal activity lets say thats gravy which brings me to todays action this morning david faber reported that xerox wants to buy hp ink w
When the buyers shares about guyer that tells you the market approves of the deal one of the main reasons why all three major averages had record closes today dow gaining 191, s p jumping 0. 57 and nasdaq 0. 23 you have to wonder why they took so long. Eliminating commissions on trading, well, theyre going to make it on credit balances that forced the rest of the industry to follow suit. Because the others made a lot of money from commissions their stocks were clocked. But Charles Schwab took advantage swooping in to buy Td Ameritrade for 26 billion and now they have 5 trillion under their belts. House of pleasure i remember goldman debated it schwab is less than 20 billion from you and gaining on you. Very to wonder if schwab at this point has a Better Business model for the future particularly for millennials unless the apple credit card turns out to be huge goldman has catching up to do and could double its assets and still not come close to the new schwab a lot critics worried abou
Mosaic day where lots of stocks went their own way based on the whims of traders, not investors. The nasdaq climbed 0. 2 . Well start with the stock of kroger up 11 today for ages the market has been brutal to this Supermarket Chain writing it off but kroger had an Analyst Meeting and mercy mercy me it got up after its been guiding down for years just when everyone started to give up on this one, fleeing from the stock because of competition from costco, from walmart, from amazon, by ail dlalinddi they tell us theyll earn 230 to 240. The street was looking for 219 it makes sense that kroger stock roared higher. When i spoke to rodney mcmullen, a true gentleman he made it clear many of his longterm initiatives that hes talking about to win customers are working, especially the restock kroger brand i know it sounds simple but rodney said theyre telling the story about food kroger is food first he regards it as a distinct competitive advantage and had success with personal finance initiat