U.S. healthcare plan and pharmacy benefits manager Magellan Health will explore selling itself after coming under pressure to do so from activist hedge fund Starboard Value LP, people familiar with the matter said on Wednesday. Magellan, advised by investment bank Goldman Sachs, is in the early stages of considering acquisition interest expressed in the company,
Month: February 2019
When you start earning steady income, it can feel as momentous as going from crawling to walking. You might be able to afford to dine at a restaurant you previously couldn’t, or maybe you can finally pay your bills on time or consider renting an apartment that better suits you. As these new possibilities present
Freeport-McMoRan has struck gold. The miner’s shares surged on Tuesday in its fifth one-day rally of more than 5 percent since the beginning of the year. Ari Wald, head of technical analysis at Oppenheimer, says he doesn’t see a strong fundamental picture but the technicals support another rally from here. “It doesn’t fit any of
So long, New York! Amazon has pulled out of its commitment to build a massive campus and bring 25,000 to 40,000 high-paying jobs to Long Island City in Queens. On Valentines Day! What went wrong? Why the breakup? Some critics were mad that New York offered $3 billion in tax incentives to lure Amazon in
Despite tweeting about bitcoin, Elon Musk says his electric car company is steering clear of cryptocurrencies. The world’s first and largest digital currency is “interesting,” and could be a valuable way to transfer money, Musk said in a podcast released Tuesday. But not for Tesla. “Bitcoin’s structure is brilliant but I don’t think it would
Medical device maker Medtronic on Tuesday beat Wall Street estimates for quarterly profit, driven by higher sales in its surgical products unit and restorative therapies group. Its fast-growing minimally invasive therapies business, which makes surgical instruments and endoscopy products, brought in revenue of $2.12 billion, above analysts’ expectation of $2.08 billion. The company said it
Amazon is becoming a bigger presence in the world of physical retail, through its ownership of Whole Foods stores, the opening of bookstores, its rapid expansion of Amazon Go cashierless groceries and new 4-star stores for popular items. For investors focused on the company’s growing footprint, that all made for a confusing disclosure in Amazon’s
Stephens upgraded McDonald’s shares to overweight from equal weight on Tuesday, saying the company’s lowered expectations for the year ahead “provides room for positive surprises.” “We believe MCD’s core U.S. business is accelerating and set to show upside to consensus estimates for [first quarter 2019 and the full year,]” Stephens analyst Will Slabaugh said in
U.S. government debt prices rose on Tuesday as investors awaited details from the latest round of U.S.-China trade talks. The yield on the benchmark 10-year Treasury note slipped to 3.661 percent, while the yield on the 30-year Treasury bond fell to 3.993 percent. Bond yields move inversely to prices. Fixed income traders turned their attention
Walmart is set to report earnings for the past holiday quarter before the bell on Tuesday. Here’s what analysts are expecting, based on a survey by Refinitiv: Earnings per share, adjusted: $1.33 Revenue: $138.7 billion Same-store sales in the U.S.: up 3.2 percent Last year, Walmart was targeting e-commerce sales growth of 40 percent. Analysts
The U.S. auto industry urged President Donald Trump’s administration on Monday not to saddle imported cars and auto parts with steep tariffs, after the U.S. Commerce Department sent a confidential report to the White House late on Sunday with its recommendations for how to proceed. Some trade organizations also blasted the Commerce Department for keeping
If health-care expenses have been squeezing your household budget, it could be worth checking if they’d get you a tax break on your 2018 return. A range of medical expenses can qualify, and as long as you itemize instead of taking the standard deduction, a portion of those costs can help lower your tax bill.
Since I have been thinking and writing about how investors benefit from experience, a commodity of which I have significant quantity, I decided to review some other factors that might influence our investment results. That led to consideration of whether arguing with my partners about stocks has improved or hampered results. Even if I came
U.S. hedge fund Tiger Global Management has sold all of its stake in British bank Barclays, according to a report by the Financial Times. The New York-based hedge fund had been one of the top 10 investors in Barclays and held a stake of 2.5 percent in the bank. It, however, started reducing its position
Large light wooden beams hang from the ceiling with signs for the health services: optical, lab services, hearing, the “health corner” – where patients can make appointments, and pharmacy. The health services share one waiting room though they each have their own room. People can head to the health corner to speak with a Walgreens
The second week of tax season has wrapped up, and refunds are still smaller compared to last year. Since the IRS began accepting returns on Jan. 28, the agency has managed to process 26.9 million individual income tax returns as of Feb. 8, according to data from the tax authority. Uncle Sam is also sending
Are tech titans about to enter the world of ETFs? Given that Alibaba’s Ant Financial Group is already the world’s largest money market fund, Dave Nadig from ETF.com says it’s not such a far-out idea. As investing becomes more automated, tech companies like Amazon, Apple and Alphabet could bring their expertise to an industry stymied
Global growth is expected to slow in the coming months, but Asian economies could hold up reasonably well, thanks to several “mitigating factors,” according to the chief executive of Southeast Asia’s largest bank. “The overall macro-economy will be a tad bit slower, but I do think that there are some mitigating factors: Monetary policies are
The center-right is set to remain the biggest group in the EU legislature after elections in May that should also show a surge in seats for the far-right, a survey by the European Parliament showed on Monday. The German Christian Democrat CDU/CSU alliance led by Chancellor Angela Merkel would remain the biggest single party with
If you’ve stashed some cash in a savings account, this is your time to shine. Signs of rising inflation, which pushed the Fed into hiking rates beginning in 2015, are finally having a significant effect on the annual percentage yield banks pay consumers on their money. As a result of the increase, savings rates are
Google unveiled an ambitious plan eight years ago to build a wind energy project in the Atlantic Ocean running all the way from New York to Virginia. That massive “underwater spine” has been slow to progress, but Google is moving ahead with its first water-based renewable energy project — it is just a little smaller
Over the past century, hundreds of once-familiar brand names have been shipped off to the automotive scrapyard, but two long-dead makes will be vying for a revival next month at the annual Geneva International Motor Show. To find a place in a rapidly evolving auto industry, British-based Lagonda and Spain’s Hispano Suiza are looking forward
The stock market is euphoric over the idea that a trade deal between the U.S. and China will fix the economy and boost earnings. However, the bond market is a different story. There, investors still perceive uncertainty, and even a possible recession lurking. “One of these markets is going to be wrong, and it’s hard
Greg Yap is a venture capitalist looking for the next big thing in digital health. At age 45, he’s also the father of young kids and the son of an aging mother, who lives nearby in an independent living facility. On days he can’t visit his mom and doesn’t hear from her, he still wants
In order to reach your wealth-building goals, selecting the right kind of investment account is as important as choosing an appropriate asset allocation. By taking advantage of tax-favored accounts, millennial investors can supercharge their nest eggs. An often overlooked but powerful wealth-building tool is the health savings account. Contributions to an HSA are tax-deductible, and
An influx of young investors are leading a charge of socially responsible and sustainable investing, funneling their money into investments and projects that serve the greater good. In financial circles, socially responsible investments (SRI) and funds geared toward environmentally, socially and governance-friendly (ESG) projects have grown in popularity with millennial investors. Those activities include avoiding
Money manager Douglas Gordon is worried about a potentially widespread problem in long-term investors’ portfolios. Gordon, who’s instrumental in building Russell Investments’ asset allocation strategies, believes many investors haven’t rebalanced their portfolios to reflect the historic 2019 stock market rally. According to Gordon, the market rally’s robust gains are tilting investors too far into stocks.
A representative of the United States government said Saturday that it would not help Saudi Arabia develop nuclear technology without guarantees that it would only be used for civilian purposes. Saudi Arabia has put the U.S. on a shortlist with China, Russia and others to bid for nuclear power projects in the country. Washington sees
Investors are often told that uncertainty is inevitable. No risk, no reward. Well, for those whose stomachs harden at the unknown, there’s some good news. A growing number of tools prepare you for the threats lurking around the market, from a trade war to climate change, by letting you test them out on your investments
A few years ago Dawn Donaghy and her husband, Raymond, made a decision that many residents in high-tax states make. They wanted to move. The couple, then residents of Old Tappan, New Jersey, a town less than 30 miles outside of New York City, loved where they lived. But Raymond’s three children were now adults,
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