Johnson & Johnson reported quarterly earnings and revenue that beat analysts’ expectations and gave its financial forecast for this year. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.97, adjusted, vs. $1.95 expected Revenue: $20.4 billion vs. $20.2 billion expected
Month: January 2019
Guggenheim’s Global Chief Investment Officer Scott Minerd believes the media and telecommunications industry could start to feel financial pain in the coming year between rising rates and lopsided balance sheets. “If I’m correct, we can’t withstand this kind of pressure,” Minerd told CNBC’s “Squawk Box” at the annual World Economic Forum in Davos, Switzerland. “Our
Jeffrey Gundlach is ditching Twitter. The founder of DoubleLine Capital said in a tweet late on Sunday he would be deleting his account “due to suspicious activity.” The tweet did not elaborate on the suspicious activity Gundlach was referring to. Gundlach’s account, which has the handle “@TruthGundlach,” has been online since May 2017. Gundlach has
Sometimes, no movement is good movement. In the case of the government shutdown, money manager Larry Glazer believes it’s favorable for Wall Street — at least in the short term. His reasoning: It prevents lawmakers from passing policies that could be detrimental to corporate America. “Investors like less Washington, and they realize Washington isn’t always
BlackRock, the largest asset manager in the world, reported quarterly earnings and revenue that missed analysts’ expectations on Wednesday. Here’s how the company did compared with what Wall Street expected: Earnings: $6.08 cents per share vs. $6.27 per share forecast by Refinitiv Revenue: $3.434 billion vs. $3.516 billion forecast by Refinitiv The company’s assets under
The Middle East’s largest public company is expanding its investments in China despite an expected slowdown in the country’s economic growth, its CEO said Monday. Speaking to CNBC during the World Economic Forum in Davos, Switzerland, Yousef Al-Benyan, chief executive of Saudi Arabian petrochemicals manufacturer SABIC, dismissed growing concerns about the future of the world’s
Even with the U.S.-China trade war still raging, Chinese stocks are on fire. Increasing trade tensions between the U.S. and China through the back-half of 2018 took a sledgehammer to Chinese shares. Baidu ended the year with a 32 percent loss, while Tencent was down 23 percent, and Alibaba dropped 21 percent. However, the FXI
Oxfam has urged governments to hike tax rates for corporations and the world’s richest to tackle the growing global wealth gap. In a report published Monday, the charity revealed that billionaire fortunes rose by $2.5 billion per day in 2018, increasing 12 percent for the year as the poorest half of the world saw its
European stocks were set for a mixed open on Monday, after fresh data from China showed its economy grew at its slowest pace since 1990. Britain’s FTSE 100 was seen 1 point higher at 6,973, Germany’s DAX was set to open 14 points lower at 11,200 and the French CAC was set for a 15-point
Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: Earnings: $4.30 per share, a 24 percent decline from a year ago, according to Refinitiv. Revenue: $7.55 billion, a decline of 3.6 percent from a year earlier. Trading Revenue: Equities: $1.64 billion, Fixed income: $992 million, according
Every one of the 80 special edition Lincoln Continentals with “suicide doors” have already sold out, the company said Monday. Ford’s premium brand debuted the formally named 80th Anniversary Lincoln Continental Coach Door Edition in mid-December. Within 48 hours of the car’s debut, they were all gone. The car was sold on a first-come, first-serve
One potential change to Social Security rules that could reduce that pressure on women: Caregiver credits, according to the Center for Retirement Research. The idea is not new. Caregiver credits are available to citizens of other parts of the world, including the United Kingdom, Sweden and Germany. The credits could work one of two ways,
January has gotten off to a strong start for the stock market, and the last day of trading this week contributed to renewed market optimism with headlines that the U.S. and China are moving closer to resolving their trade differences. The Dow Jones Industrial Average finished with a gain of 336 points on Friday and
What’s your net worth? Even if you don’t fly on private jets or play polo, this simple equation is an important tool that says a lot about your financial health. Still, most people don’t bother to calculate it. That’s a mistake. “It’s the first snapshot into an overall look at your finances,” said Michael LaRiviere,
The market’s win streak may be just beginning. Edward Yardeni, who spent decades on Wall Street running investment strategy for firms such as Prudential and Deutsche Bank, predicts stocks will break out to all-time highs this year. He’s partly building his bull case based on a chart pointing to negative market sentiment. “At the end
Morgan Stanley is set to report fourth-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: 89 cents per share, according to Refinitiv. Revenue: $9.295 billion. Wealth management: $4.45 billion revenue, according to FactSet Trading: Equities: $2.04 billion. Fixed income: $800 million. Under Chief Executive Officer James Gorman, Morgan Stanley has
Jailed former Nissan CEO Carlos Ghosn is staging a new bid to be granted bail, offering to meet greater restrictions and higher guarantees that include posting his Nissan stock as collateral. Since he was arrested on November 21st, Ghosn has been detained in a Japanese jail, and has not been allowed to have direct contact
Patrick Greene could soon see his rent double. The 70-year-old man lives with his wife, Karen, in a two-bedroom apartment in Montgomery, Alabama. He pays $460 a month for the apartment, and the rest of his $940 rent is normally covered by the U.S. Department of Housing and Urban Development. Due to the stalemate in
Tesla shares took a big hit to end the week after CEO Elon Musk announced that the company would cut 7 percent of its workforce in order to cut costs as the company prepares to ramp up production and boost margins as they get closer to releasing the long-awaited $35,000 version of the Model 3.
Spending on watches, jewelry, boats and other luxury goods could tumble because of the recent stock market jitters, according an analysis from Goldman Sachs. Declines in stock prices since their peak last September could reduce luxury spending by wealthy spenders and shave a half a percent from the gross domestic product in 2019, according to
Compared to the rough ride down, stocks have much more quietly and gently recovered more than 13 percent of their losses from the Christmas Eve low. That’s good news for bullish investors, who expect that the turbulent Christmas lows marked the bottom of the rout that took the S&P 500 down 20 percent on an
Top U.S. aluminum producer Alcoa beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. The company’s shares were down 1.6 percent in extended trading, reversing course after rising as much
Tesla’s 13 percent stock slump on Friday was the biggest of the new year, and the seventh-steepest since the company’s public market debut in 2010. The decline followed an announcement by CEO Elon Musk that Tesla is slashing 7 percent of its full-time jobs as it ramps up production of Model 3 sedans. The last
Early estimates for next year’s Social Security cost-of-living adjustment are in — and they’re nothing to celebrate. In fact, at the rate we’re going, there might not be a cost-of-living adjustment for 2020 at all, according to Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League. The non-profit organization tracks how
I remember it as if it were yesterday. It was the middle of November 2000. Thanksgiving was still a week in the distance but seemingly closer as the enthusiasm for the long weekend began to build, a waystation into a final push to year-end. I dreaded that time of year because, for me and the
Student loan refinancing companies say they offer borrowers a way to save thousands of dollars on their debt, by allowing them to pay off their loans at a lower interest rate, in less time. The reality can be much different. Recently, the government found that online lender SoFi was misleading consumers on how much they’ll
In his last book, “Stay the Course,” Jack Bogle left investors and professionals a warning about a coming battle in investment management. He had been watching closely over the past few years as a growing number of academics raised questions about the size of big passive fund managers, such as Vanguard, BlackRock and State Street
Banks’ trading desks ended 2018 with a whimper – and nowhere as much as at Morgan Stanley. The New York-based firm had the worst bond-trading performance among the big five Wall Street investment banks, a precipitous 30 percent decline to $564 million. It was one of the most meager hauls since Morgan Stanley revamped the
The twin ports in Los Angeles and Long Beach are cited by environmental authorities as some of the worst sources for the region’s endemic air pollution, a problem regulators aim to address with a planned phase-out of the 16,000 smoke-spewing diesel trucks that service the shipping centers. What sort of clean technology will replace them
Your employer is worried about your balance sheet. “Financial wellness” — or improving the overall health of their workers’ finances — will be front and center for companies this year, according to a recent survey from Callan. The investment consultancy polled 106 employers in October 2018. “Investing” and “retirement plan contribution levels” round out the
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