Cronos Group Inc.: “They’ve got a very important tie-up with Altria. We have been recommending, just so you know, that Canopy is the best. But Cronos is second best and it’s been a fantastic stock. It has very good management, by the way.” InVitae Corp.: “If you’re going to do targeted cancer, then you need
Month: January 2019
DAVOS, Switzerland – The elite financiers attending Davos are worried about the 70 percent tax rate on earnings above $10 million proposed by freshman Rep. Alexandria Ocasio-Cortez, D-N.Y. “It’s scary,” Scott Minerd, global chief investment officer for $265 billion Guggenheim Partners, said in an interview on the sidelines of the World Economic Forum in Davos,
With December’s monster sell-off in hindsight, many investors are looking for a potential shelter to hide when the market goes wild again. And U.S. Treasuries, Japanese yen and gold could be their best safe havens, according to HSBC. The bank ran 10 million simulations of various portfolio weightings and found that short-dated Treasuries are a
Intel will report its fourth-quarter earnings after market close on Thursday. Executives will discuss the results with analysts at 5 p.m. Eastern time. Here are the numbers to follow: Earnings: $1.22 per share as expected by analysts, excluding certain items, according to Refinitiv. Revenue: $19.01 billion as expected by analysts, according to Refinitiv. While the
The Volkswagen GTI is arguably the most important hot hatchback on the market. The first generation of the souped-up Golf inspired an entire new segment of quick, practical cars at affordable prices. Decades later, it has to fight harder than ever to win buyers. Despite being the perennial sales leader in its class, it’s taking
Stocks may be on the brink of another correction. Despite 2019’s strong start, the Economic Cycle Research Institute’s Lakshman Achuthan believes the market remains in a danger zone, because there’s evidence economic growth is still decelerating. “The elephant in the room remains the cyclical slowdown. And, as long as that slowdown is in play… the
Even amid the federal shutdown, here’s one thing you can count on: The start of tax season. The IRS has said it will begin receiving your 2018 tax returns on Monday, Jan. 28. The revenue agency also said that it would pay refunds to eligible tax payers. How smooth the process will actually be remains
Approximately 21 of the nation’s largest banks have reported their earnings in the past two weeks. In aggregate, these 21 companies posted 2018 earnings of $154.6 billion. The common equity of these companies grew by a net $2.4 billion over the same time frame. Implicit in these numbers is that these banks paid out $152.2
Colgate-Palmolive forecast a surprise fall in 2019 profit on Friday, as the world’s largest toothpaste maker spent more on advertising, while battling higher commodity costs. The company’s share fell 3 percent to 60.4 before the bell. Colgate is spending more on advertising as it battles competition from brands such as Procter & Gamble’s Oral-B and
For years, people have speculated about Amazon rolling out a health care service as part of Amazon Prime. Notable early Amazon investor John Doerr is already calling it “Prime Health.” So far, that hasn’t happened. But the former head of Amazon Prime, Rob Schwietzer, who was in charge of scaling the product to millions of
Say you’re a few decades into your career when you receive notice that you’ve inherited $20,000. The only condition is that it must be saved for retirement. So what’s the best way to do that? The answer depends on a combination of factors, including your income, your age and your existing savings. And that’s before
Bank of America-Merrill Lynch believes it’s premature to call an end to the market correction. Although stocks on Friday closed out 5 straight weeks of gains, Stephen Suttmeier, the firm’s chief equity technical strategist, is telling investors that stocks are still in the throes of a cyclical bear market. According to Suttmeier, the S&P 500
Investing in global health organizations aimed at increasing access to vaccines creates a 20-to-1 return in economic benefit, billionaire Microsoft co-founder and philanthropist Bill Gates told CNBC on Wednesday. Over the past two decades, the Bill and Melinda Gates Foundation has donated “a bit more than $10 billion” into mainly three groups: The Global Alliance
Sen. Kamala Harris’ history with Wall Street and the banking industry is about to come under scrutiny in a big way as the California Democrat joins what is expected to be large group of candidates seeking to topple President Donald Trump in 2020. Harris, of California, has a history of squaring off with the banking
Western Digital said on Thursday it expected revenue to improve in the second half and would cut costs, after posting lower-than-expected quarterly results due to waning demand for its data storage devices used in smartphones. The company’s shares reversed course following the comments on a post-earnings call to trade 8 percent higher in extended trading.
Former Starbucks Chairman and CEO Howard Schultz, who is launching a book tour next week, is reportedly giving serious consideration to running for president in 2020 as an independent candidate, The Atlantic reported on Saturday. With the field of contenders to challenge President Donald Trump growing daily, Schultz is set to give an interview on
If your car breaks down or you get sick, do you have enough money saved to cover the unexpected expense? If you’re like many Americans, the answer is probably no. A recent survey from personal finance website Bankrate found that just 40 percent of Americans have enough saved to cover a $1,000 unexpected expense. Research
Bitcoin’s hot streak is well and truly dead. The cryptocurrency has not been able to crack above $4,000 in three weeks just 12 months after trading at more than $12,000. Signs show that bitcoin investors are moving toward a more traditional commodity, says Jan Van Eck, CEO of Van Eck Associates. “I do think that
Around 270 private jets were flown into Switzerland by Davos participants between Sunday and Tuesday, according to the World Economic Forum (WEF). The total number could be higher given that a number of delegates will remain in Davos – where the threats posed by climate change have been high on the agenda – until later
Square is on a tear. The stock surged 7 percent Thursday after the payment company received a vote of confidence from Instinet. Analyst Dan Dolev reiterated a buy rating on the shares in a note, citing new growth potential and increasing attractiveness versus the big banks after Square launched its business debit card last week.
Rising competition weighed on analysts minds following Intel‘s dismal report after the bell Thursday. Wall Street largely believes the company’s sales shortfall is an Intel-specific problem and they remain bullish on the semiconductor industry as a whole. Shares were down 6 percent in premarket after the company also gave weak guidance and missed on revenue
Eric Cahan and his business partners opened an art-filled cafe in Manhattan’s East Village on April 10, 2018. Ten days later, Mamacha created a CBD-laced drink to celebrate the marijuana holiday, 420. Suddenly there was a line out the door. Cahan and Mamacha’s other owners sensed an opportunity. They learned as much as they could
Demika Alston was a teenager when she was hired at Au Bon Pain as a cashier. Through the years, she climbed up to general manager. There were other changes during that time too. Catering orders moved online, kiosks that could answer customers’ questions were installed and meal-taking iPads arrived. Many of Alston’s co-workers were laid
Investors looking to seize on the rise of over-the-top streaming services and increased cord-cutting should look no further than a few key stocks, CNBC’s Jim Cramer said Friday on “Mad Money.” While the devices and ecosystems that enable streaming — think Apple, Amazon, Alphabet and Comcast, as well as smaller players like Roku — are
Are you getting rattled by some Democrats’ talk of higher taxes and are now thinking a move abroad would shield you? Guess again. Unlike many countries, the United States imposes taxes on its citizens no matter where they choose to live. “If you’re a U.S. citizen or a greencard holder — a lawful permanent resident
The earnings season is about to get a lot more interesting with about a quarter of the S&P 500, nearly half of the Dow Jones Industrials and three of the four biggest companies in the world reporting in the week ahead. Mega-cap tech companies Apple, Microsoft, and Amazon report respectively on Tuesday, Wednesday and Thursday.
The bar is set low for Apple‘s earnings next Tuesday so Morgan Stanley says it’s a good time to buy the stock. “We believe the recent pullback is an attractive entry point given upcoming services launches and shares already pricing in extremely cautious iPhone replacement cycle and average selling price headwinds,” the bank’s analyst Katy
The short-term deal to reopen the federal government could provide a crucial window for biotech firms which have filed to go public — a process that has been stymied by the shutdown at the Securities and Exchange Commission — and for more established drugmakers which faced potential headwinds getting drug approvals at the Food and
With an ever-aging U.S. population and advances in medical care, health care professions top the list of in-demand jobs for 2019, according to a new report from jobs site CareerCast. The salaries for those positions depends largely on the education needed for a particular spot. For instance, the job with the most anticipated growth —
CNBC’s Jim Cramer implored investors on Thursday not to let day-to-day market volatility frighten them out of buying shares of great long-term performers like pharmaceutical giant Merck. “Merck is exactly the kind of company that investors circle the wagons around” during difficult macroeconomic events like long-lived government shutdowns, Cramer said on “Mad Money” amid a
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