Copyright © Daniel Cullinane CPA.
Facebook Inc is letting software almost entirely determine what appears in its trending feature, scaling back the human intervention that led to allegations of political bias earlier this year. The social media giant said on Friday it is eliminating the cescripotions that have typically accompanied the topics and headlines the appearing the trending feature, wich is distinct from the Facebook news feed. Those descriptions were written by contract workers hired by Facebook called news curators. Instead of a story description viewers will see a hashtag or a topic online based on original posts as well as articles and posts as well as articles and posts shared by users on the topic, similar to Twitter Inc trends list.
Making these changes to the product allows our team to make fewer individual decision about topics Facebook said. the increased automation is a response to allegations published in a May report by Gozmodo that curators altered the list for political reasons. Facebook denied th bias but said curators had more oversight over the list than it previously disclosed
Stocks were indicated to have a higher open on Tuesday after a Turkey-related sell-off on Monday. Earnings season is now about 85% over, and it has been quite strong with over 70% of the companies exceeding expectations. The market volatility in 2018 has created less rewarding trades by buying the dips, which had been so reliable in prior years. Many investors also are trying to decide how they want their investments positioned ahead of the midterm elections and with international trade concerns.
24/7 Wall St. reviews dozens of analyst research reports each day of the week to find new investing and trading ideas for our readers. Some analyst reports cover stocks to buy and some cover stocks to sell or to avoid.
Additional commentary has been added on most of the daily analyst reports, along with trading history. The consensus analyst price targets and other valuation metrics are from the Thomson Reuters sell-side research service.
These are the top analyst upgrades, downgrades and initiations seen from Tuesday, August 14, 2018:
Alliance Data Systems Corp. (NYSE: ADS) was raised to Overweight from Neutral at JPMorgan. The stock closed at $227.36, has a 52-week range of $192.02 to $278.33 and it has a consensus target price of $269.05.
Blackstone Group L.P. (NYSE: BX) was maintained as Overweight but the target price was raised to $42 from $40 at Morgan Stanley.
Carlyle Group L.P. (NASDAQ: CG) was maintained as Overweight but the target price was raised to $31 from $30 at Morgan Stanley.
Chubb Ltd. (NYSE: CB) was downgraded to Sell from Hold and the price target was lowered to $126 from $135 (versus a $134.98 prior close) at Deutsche Bank.
Cognizant Technology Solutions Corp. (NASDAQ: CTSH) was downgraded to Neutral from Overweight at JPMorgan.
Eros International PLC (NASDAQ: EROS) was started as Buy and assigned a $16 price target (versus a $13.14 close) at Citigroup.
Dycom Industries Inc. (NYSE: DY) was down 24% at $68.08 on Monday. Canaccord Genuity maintained the stock as Buy but cut its target price to $90 from $125. Wells Fargo maintained its Outperform rating but lowered the price target to $85 from $110.
Emerson Electric Co. was reiterated as Buy but the price target was raised to $83 from $81 (versus a $73.45 close) at Argus.
Equity Residential (NYSE: EQR) was downgraded to Hold from Buy at SunTrust Robinson Humphrey.
Fiserv Inc. (NASDAQ: FISV) was downgraded to Underweight from Neutral at JPMorgan.
HCA Healthcare Inc. (NYSE: HCA) was started with an Overweight rating and assigned a $150 price target at Barclays.24/7 Wall St.
PWC SETTLES HUGH LAWSUIT
Accounting giant PricewaterhouseCoopers LLP has settled a $5.5 billion lawsuit in the middle of a trial over its alleged failure to catch the massive fraud st Taylor, Bean & Whitaker Mortgage Corp according to a lawyer involved in the case. Steven Thomas, a lawyer for the trust created as part of Taylor Bean & Whitaker Mortgage's liquidation plan announced the settlement at a hearing Friday morning in Miami. Mr Thomas and PwC each said the settlement terms were confidential but that the lawsuit has been resolved to the mutual satisfaction of the parties. The trustee alleged in the 2013 suit that PwC was negligent in not detgecting a massive fraud scheme that brought down Taylor Bean and helped trigger the 2009 collapse of Colonial Bank a Montgomery Als bank with $25 billion in assets.
FACEBOOK EDITS TRENDING
Most key dollar ceilings on retirement plans do not change for 2016. The 401k contribution limit remains $18,000, but folks born before 1967 can put in $6,000 more. Tdhese payhin maximums apply to 403b and 457 plans, too. The cap on Simples stays at $12,500, $15,500 for individuals 50 and older. Deduction phaseouts for regular IRAs start at the same levels in 2016, from $98,000 to $118,000 of AGI for couples and from $61,000 to $71,000 for singles. If only one spouse is covered by a plan, the phaseout zone for deducting a contribution for the uncovered spouse rises a bit. It will start at $184,999 of AGI and end at $194,000. The income ceilings on Roth IRA payins tick upward. They phase out at AGIs of $184,000 to $194,000 for couples adn $117,000 to $132,000 for singles. The partial credit for retirement plan payins phases out at higher levels. For marrieds at AGIs over $61,000 household heads $46,000 Singles $30,750
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Daniel Cullinane CPA
25 Plaza 5 25th fl Jersey City NJ phone 732-516-1648 fax 732-516-9778