Snap chief financial officer Tim Stone is resigning to pursue other opportunities, the company said in a new filing. The stock dropped more than 8 percent after hours on the news. Stone had just joined the company from Amazon in May 2018, with an annual salary of $500,000, restricted stock units worth $20 million, and
Month: January 2019
Delta Air Lines posted fourth-quarter earnings slightly higher than Wall Street’s expectations on Tuesday. The Atlanta-based carrier earned an adjusted $1.30 a share, compared with $1.27 expected by analysts polled by Refinitiv. Delta’s net income grew more than threefold to $1 billion during the last three months of 2018 from $299 million the year before,
U.S. stock futures were slightly higher on Wednesday, following a parliamentary defeat for British Prime Minister Theresa May’s Brexit deal. Dow futures were 76 points higher as of 2:12 a.m. ET, indicating a 26 point rise at the open, while S&P 500 and Nasdaq futures were also higher. Traders were digesting news that the U.K.
Three weeks into a partial government shutdown, hundreds of thousands of federal workers are furloughed or working without pay. That’s longer than most can get by without income, considering that over three-quarters of all full-time workers are living paycheck to paycheck, according to a report from CareerBuilder. Federal workers are particularly vulnerable. On average, government
Airline stocks can’t seem to catch a break. The NYSE Arca Airline Index, which tracks U.S. and international carriers, lagged the broader market in 2018 — dropping nearly 21 percent compared with the S&P’s decline of more than 6 percent — and some of the biggest airlines are warning that 2019 might bring more bad
Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data. In 2018, Chinese FDI in the United States fell to just $4.8 billion — a massive decline from $29 billion in 2017 and $46 billion in 2016, according to independent researcher the Rhodium Group. The 2018
Wells Fargo is scheduled to report fourth-quarter earnings before the market opens on Tuesday. Here’s what Wall Street expects: Earnings: $1.16 cents per share, forecast by Refinitiv. Revenue: $21.73 billion, forecast by Refinitiv. Wells Fargo is still working through its regulatory issues after the Federal Reserve reportedly rejected its plan to prevent more consumer abuses
After an uncommonly strong three-week rally, the stock market is up 10 percent from the harrowing 20-month low it reached in a nearly unprecedented December meltdown. But the S&P 500 index is still 11 percent below its September record high and down 6 percent from a year ago. So what’s now priced into the market,
UnitedHealth shares jumped 1 percent in premarket trading Tuesday after it reported fourth-quarter earnings that beat Wall Street’s expectations, helped by growth in its services business. Here’s UnitedHealth’s results vs. what Wall Street expected: Earnings: $3.28 per share vs. $3.21 per share, forecast by Refinitiv. Revenue: $58.42 billion vs. $58.01 billion, forecast by Refinitiv. The
Getting an advance on your tax refund may seem like a more attractive proposition this year — yet it’s not a move to make lightly. A growing number of consumers have been using financial products at tax time that promise to advance them part of their tax refund. In 2017, taxpayers took out more than
Shares of Alibaba dipped just before market close Monday following a Wall Street Journal report citing President Michael Evans’ concerns about an economic slowdown in China. The stock closed 1.35 percent down after trading up for most of the day. “China has slowed down,” Evans said during a presentation at the National Retail Federation’s annual
The rich – they’re just like us, right? Well, not exactly. If you analyze the habits of wealthy people, some trends begin to emerge. First, they don’t follow the pack — whether it’s a fad investment or panicking during a market sell-off, according to Tom Corley, an author who has studied self-made millionaires. Second, they
Check out the companies making headlines after the bell: Dave & Buster’s‘ stock popped more than 6 percent in after-hours trading after the company released an updated outlook for fiscal year 2018. The company said it expects fiscal-year revenue to range between $1.259 billion and $1.263 billion, up from a range of $1.243 billion and
U.S. airlines are expected this month to post their ninth-consecutive year of profits, the longest stretch of good financial news the sector known for boom-and-bust cycles has had in at least four decades. Investors have not been impressed. The sector lagged the broader market in 2018, and 2019 hasn’t been much better. The NYSE Arca
Columbia Sportswear is speaking out against the partial government shutdown, but its CEO told CNBC on Monday that it isn’t about politics — it’s about protecting the nation’s parks. The retailer, whose business is predicated on people being able to enjoy the outdoors, took out an ad in The Washington Post on Friday that said,
Ford Motor is gearing up to launch new electric cars as soon as next year, CEO Jim Hackett told CNBC on Sunday. Ford has previously announced its plans to invest $11 billion in electric vehicles by 2022 and produce 40 hybrid and fully electric cars, in a plan to revive its slowing business. However, the
Malaysian Finance Minister Lim Guan Eng said Monday that the $7.5 billion his country is seeking from American investment bank Goldman Sachs over the 1Malaysia Development Berhad scandal is an “extremely reasonable” amount. The fallout from the disappearance of billions of dollars from that Malaysian sovereign wealth fund, commonly known as 1MDB, has led to
European markets are set to open lower Monday morning, after a shock contraction in Chinese exports heightened fears of a slowdown in the world’s second-largest economy. The FTSE 100 is seen 35 points lower at 6,883, the CAC is expected to open down around 48 points at 4,733, while the DAX is poised to start
While the majority of middle-class Americans in their 40s and 50s are saving for retirement, getting rid of debt is a more pressing concern. Among that group, 33 percent say their top savings priority for 2019 is paying off debt, according to a new report from AARP and the Ad Council. That ranked ahead of
Bank of America-Merrill Lynch sees evidence the stock market’s bullish activity has near-term staying power. And, it’s using a currency chart to illustrate its case. Paul Ciana, the firm’s chief global technical strategist, highlighted the dollar versus the Chinese yuan on CNBC’s “”Futures Now” to show the strength of “risk on” (or high-yielding, risk-sensitive) assets.
Carlos Ghosn, the recently ousted Nissan Motor chairman, received about $8 million in pay in 2018 from a Netherlands-based entity that was owned by both Nissan and partner Mitsubishi Motors, according to a Wall Street Journal report. The publication, citing a person familiar with Nissan’s probe, reported on Sunday that the motor giant found that
Goldman Sachs is predicting that earnings growth in 2019 could be quite disappointing, advising clients to steer clear of companies leveraged to strong economic growth. In a research note to clients this weekend, the firm gave a forecast that should worry bullish investors, warning that big consumer brands were sounding a warning about corporate profits
This year may be a disappointing one for start-ups planning to go public. Those aiming to list in the first quarter are stuck in limbo, unable to start the application process until the government is fully re-opened. Companies like Airbnb, Uber, Lyft, Pinterest and Slack have all signaled their desire to do an initial public
Cadillac debuts its three-row XT6 sport utility vehicle at the Detroit auto show on Sunday, filling out a lineup of luxury SUVs that many industry analysts say is long overdue. In recent years, the brand once known as the “Standard of the World” has taken heat for being slow to respond to the shift toward
Credit scores have been steadily rising since the Great Recession, averaging over 700 for the first time ever. But if you’re not there yet, there is good news. New criteria will weigh how you manage the cash in your checking and savings accounts, which means the good financial habits you practice today can have a
Call it the Apple turnover. Shares of the tech giant are down over 30 percent from its October high, shedding more than $400 billion in market capitalization from peak to trough. Apple‘s collapse comes amid growing fears over iPhone demand and trade tensions. Last week, the stock fell nearly 10 percent in a day, setting
Federated Investors’ Steve Chiavarone sees four unloved groups bouncing back this year: Dividend stocks, cyclical names, small caps and emerging markets. He’s pinning his bullish case on a Federal Reserve that may not be as aggressive in raising interest rates in 2019. “I think they’re prepared not to hike any time soon,” the fund manager
The North American International Auto Show kicks off Monday, but Detroit’s flagship car exposition isn’t what it used to be as luxury automakers are going elsewhere to debut their latest designs. Audi, BMW, Mercedes, Volvo, Porsche, Jaguar, Land Rover are skipping the show in an official capacity this year. Even smaller manufacturers, like Mitsubishi and
Ever wonder how people deal with often-loathed tax preparations on their own? By doing other things at the same time, it turns out. Among do-it-yourselfers who use online tax-preparation software, about half say they watch TV, and more than a quarter say they browse social media while working on their return, according to a survey
When the markets experience sudden drops, most investors hope the value of their investments doesn’t go with them. Non-correlated assets, or so-called alternative investments, offer the potential for at least some of your assets to stay put when the markets hit the skids. And more investors seem to be warming to areas outside of traditional
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