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Paying Off a Mortgage in 5 Years: What You Need to Know
Paying off your mortgage ahead of time might sound like an incredibly savvy thing to do â and in some cases, it is. But itâs not the right money move for everyone. Pay off a mortgage in five years? Itâs an aggressive strategy that may or may not be the smartest choice. Benefits and Risks […]
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NetCredit Personal Loans 2022 Review
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
[Update] Paypal 2% Cashback Mastercard Review
Update 4/4/22: Card is promising an “upgrade” soon. Existing cardholders will automatically get the upgrade. Currently not accepting new applicants. (ht proudmoney) Update 5/27/21: This card is adding back the 3% foreign transaction fee beginning 7/25/21. Hat tip to reader Jon Update: They have sent out an e-mail to cardholders informing them that transactions made […]
A Guide to What Mortgage Notes Are & What They Do
When you close on a home, one of the most important documents youâll review and sign is your mortgage note. Itâs an agreement between you and the lender that outlines the terms and conditions of the mortgage. The document tells you how much and when to pay, and spells out the consequences if you donât. […]
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Stock Market Today: Netflix’s Epic Crash Clips Nasdaq
The earnings calendar was front and center Wednesday as a mixed day for the broader indexes was easily overshadowed by a plunge in of Wall Street’s most notable mega-caps.
Netflix (NFLX) suffered its worst single-day decline in 18 years â a 35.1% nosedive eroding roughly $55 billion in market value â triggered by the company’s first quarterly subscriber loss since 2011.
- SEE MORE The 15 Best Value Stocks to Buy for 2022
The streaming giant, which expected to add 2.5 million net subscribers during the first quarter, announced it had lost 200,000, triggering a flurry of analyst downgrades despite an easy earnings beat. The shortfall was in part caused by Netflix’s decision to pull out of Russia, which cost it 700,000 subscribers, but inflation is also causing customers worldwide to make tougher spending choices.
CEO Reed Hastings also said NFLX was planning to launch an advertising-supported version.
“The initial allure of Netflix was that it didn’t have any ads; it’s unclear if Netflix fans will be amenable to advertisements,” says David Trainer, CEO of investment research firm New Constructs. “Rivals like Disney can monetize content through a variety of other channels, like merchandise and theme park revenue. Netflix doesn’t have the infrastructure for those kinds of revenue streams.”
Ripples were felt throughout the streaming industry. Rivals including Disney (DIS, -5.6%), Amazon.com (AMZN, -2.6%), Warner Bros. Discovery (WBD, -6.0%), Paramount Global (PARA, -8.6%), Roku (ROKU, -6.2%) and even Chinese streamer iQiyi (IQ, -6.7%) all finished well in the red.
These losses weighed heaviest on the Nasdaq Composite, which declined 1.2% to 13,453. Faring relatively better were the S&P 500 (down marginally to 4,459) and Dow Jones Industrial Average (+0.7% to 35,160), which were buoyed by more positive earnings news.
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International Business Machines (IBM, +7.1%) was the Dow’s top component after it reported a 24% pop in profits and beat top- and bottom-line expectations.
“Stringing together consecutive quarters of outperformance illustrates that there is a clearer path to accelerating growth in 2022,” says Morgan Stanley analyst Erik Woodring (Overweight, equivalent of Buy).
- SEE MORE Kiplinger’s Weekly Earnings Calendar (April 18-22)
Meanwhile, price hikes helped Procter & Gamble (PG, +2.7%) offset inflation-pressured margins and deliver better-than-expected sales and profits.
Tesla (TSLA), off 5.0% during Wednesday’s session, was up by roughly the same percentage following a Street-beating Q1 report. Earnings of $3.22 per share easily cleared estimates of $2.26, while revenues of $18.76 billion topped the consensus mark of $17.80 billion.
YCharts
Other news in the stock market today:
- The small-cap Russell 2000Â managed a 0.4% improvement to 2,038.
- U.S. crude futures edged up 0.1% to settle at $102.19 per barrel.
- Gold futures slipped 0.2% to finish at $1,955.40 an ounce.
- Bitcoin was relatively calm, sliding 0.3% to $41,243.10. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.
- Rite Aid (RAD) stock was up more than 38% at its intraday peak before paring its gain to 10.8%. Sparking the surge was a report in the New York Post that suggested the pharmacy chain rejected a late-March buyout bid from Spear Point Capital Management. According to the article, the private-equity firm offered to buy Rite Aid for $815 million, or $14.60 per RAD share â a 56% premium to its March 30 close at $9.36.
- Omnicom Group (OMC) jumped 4.5% after the advertising firm reported earnings. Despite suspending operations in Russia during the first quarter, OMC reported earnings $1.39 per share and revenue of $3.41 billion â more than the $1.30 per share and $3.29 billion analysts were expecting. CFRA Research analyst Janice Quek maintained a Buy rating on OMC stock, citing the company’s “good cost control” and an upward revision to its organic growth forecast.
The Time to Buy Emerging Markets?
Inflation is hardly just an American problem.
- SEE MORE 10 Best Inflation-Fighting ETFs for Higher Costs
Yesterday, the International Monetary Fund said inflation was a “clear and present danger” as it lowered its 2022 global GDP forecast by 0.8 percentage points, to 3.6%. And emerging markets are expected to struggle even more than developed economies as higher prices weigh heavy on commodity importers.
That in turn has meant even worse year-to-date returns for many emerging market (EM) stocks compared to their still struggling U.S. counterparts.Â
But this dip might prove an ideal buying opportunity for those wishing to brave the high potential (and high volatility) of EMs, especially given expectations for emerging market growth to recover in 2023.
If you want to take the plunge, you can spread out your risk across dozens or even hundreds of stocks from numerous countries through exchange-traded funds (ETFs). Or you can narrow your bet to a single region â for instance, these five stocks and funds allow you to harness the growth of Africa.
If you’re looking for some of the most potent individual picks across the globe, however, look no farther than this cluster of 11 emerging-market stocks. We explore the opportunity each presents, and what about them stands out to stock-research experts.
- SEE MORE The 22 Best ETFs to Buy for a Prosperous 2022
What Happens When Someone Pays My Student Loans?
If someone offers you assistance in paying off student loans, your immediate answer might be âGo for it!â but itâs important to understand the implications. While a parent, grandparent, employer, or even a mysterious benefactor could pay off your student loans, they may be responsible for a gift tax if they contribute more than the […]
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How to Find a Contractor for Home Renovations & Remodeling
Youâre ready to make home improvements. When looking for a trustworthy pro, itâs a good idea to get referrals, check references, get bids, and nail down your financing. Letâs drill down to the details on how to find a good contractor for remodeling and what you need to ask as you move through the process. […]
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Chapter 1: What Is a Budget & How to Create One
Creating a budget can offer you peace of mind and give you more confidence in managing your finances. A budget can help make you more aware of how you spend your money, and the places where you may be spending…
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Rolling Closing Costs Into Home Loans: Here’s What You Should Know
You may be spared the pain of paying closing costs upfront, depending on the type of loan and the lenderâs criteria, but youâll either be given a higher interest rate on the mortgage to cover those costs or see the costs added to your principal balance. Heard of a no closing cost mortgage or refinance? […]
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