Bank of America CEO Brian Moynihan got a 15 percent raise, the biggest increase among bank chiefs to disclose pay so far, after the lender reported record earnings last year. Moynihan’s compensation rose to $26.5 million from $23 million in 2017, according to a regulatory filing Friday. That includes a $1.5 million salary and $25
Month: February 2019
Shares of Barbie owner Mattel skyrocketed more than 15 percent on Thursday, after the company reported better-than-expected fourth quarter earnings and revenue after the closing bell. The toy company said it earned 4 cents per share on $1.52 billion in revenue in the quarter ended Dec. 31. Wall Street had expected Mattel to post a
In the middle of bluegrass and bourbon country in Harrodsburg, Kentucky, is Corning‘s oldest glass factory. It was built in the 1950s to create lenses for glasses, then transitioned into making LCD glass panels in the 1980s. About six months before the first iPhone was released in 2007, Steve Jobs made a call to the
Former North Dakota Democratic Sen. Heidi Heitkamp‘s path to the Capitol wasn’t paved in gold. In fact, Heitkamp said growing up in rural North Dakota, her family faced many financial challenges. “We talked about money all the time and how there wasn’t enough of it,” she told CNBC. The first thing she ever paid for
The biggest banking deal since the financial crisis has more to do with technology than any traditional bank metric, CNBC’s Jim Cramer said Friday of BB&T’s pivotal $66 billion commitment to buy rival SunTrust Banks. “To me, this BB&T merger of equals with SunTrust is about keeping up with the Joneses — in this case,
In a blog headlined “No thank you, Mr. Pecker,” Jeff Bezos claims David Pecker’s National Enquirer threatened to post sexual pictures that the Amazon CEO had texted to his mistress, Lauren Sanchez, including a “below the belt selfie.” In the blog post published Thursday, Bezos CEO accused AMI, the tabloid’s publisher, of blackmail and extortion.
Daniel Loeb’s Third Point dissolved its stakes in Netflix, Microsoft and Alibaba as of Dec. 31, according to a Friday filing with the Securities and Exchange Commission. The hedge fund previously held 1.25 million shares of Netflix, 4.1 million shares of Microsoft and 4.05 million shares of Alibaba as of the quarter ended Sept. 30
Skechers stock rocketed 16 percent higher in premarket trading after the shoemaker gave strong profit guidance for the quarter ahead while reporting better-than-expected fourth-quarter earnings Thursday evening. “2018 was a year of record sales—our first fourth quarter of over a billion dollars and, combined with three previous record quarters, a new annual sales record of
Amazon CEO Jeff Bezos’ high-profile run-in with the publisher of the National Enquirer over a series of salacious photos seems to have rattled investors, CNBC’s Jim Cramer included. “It’s the last thing I want linger on,” the “Mad Money” host said on Friday. “But I’ve got to say I was surprised that the CEO of
Planning a trip is nice. Paying down your student loan tab may be nicer. Last year alone, American workers gave up about $62.2 billion in lost benefits by forfeiting over 200 million vacation days that could not be rolled over, according to Project: Time Off, which is sponsored by the U.S. Travel Association. What if
We’re only in the second week of tax season — and some filers are already in for a nasty surprise from the IRS. This spring marks the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act, which went into effect in last year. Though the 2018 filing season only started on
Deere & Co.: “I think John Deere is such a buy. When you talk about trade and Europeans, they should let more Deere stuff in. I think Deere is terrific. And the Europeans better start playing ball with us, that’s what I have to say.” TherapeuticsMD Inc: “It’s done nothing … It ain’t workin’, it
CNBC’s Jim Cramer would buy shares of Cisco on Friday if stocks continue their sell-off, he told a caller on Thursday. “If you asked me which stock to buy if we have another sell-off tomorrow, I am going to say Cisco, because you know I’m trying to make that my biggest position because you’re a
Apple this week pulled a Facebook app from the App Store. It’s called Facebook Research, and its purpose was to let Facebook watch everything that its users did on the phone. Apple says the snooping app is too invasive, even if users consented to letting Facebook watch their every move. That raises some questions. How
European banks are finding it hard to recruit the right people due to new regulations and intense competition from some of their U.S. peers, industry insiders have told CNBC. “It is a vicious circle, isn’t it?” said a senior executive at a European bank told CNBC who preferred to remain anonymous due to the sensitive
OakNorth said Friday it secured a $440 million investment from Japan’s SoftBank and Singapore’s Clermont Group. The British digital bank, which lends to small-to-medium enterprises through its digital platform, said it had raised $390 million from SoftBank’s $100 billion Vision Fund, with the remaining capital coming from Clermont. The deal gives the three-year-old firm an
Expedia boosted fourth-quarter revenue by selling more hotel rooms and airline tickets, but write-downs pushed profit down 69 percent, to $17 million. The results still beat expectations for the online travel agency. The shares jumped $9.13, or 7 per cent, to $137 in extended trading Thursday after losing a penny in the regular session. At
Shares of toy maker Hasbro plummeted more than 10 percent before the opening bell Friday after the company said it was more negatively impacted by the liquidation and closure of Toys R Us than it had forecast. “2018 was a very disruptive year, driven by the bankruptcy and liquidation of Toys R Us across most
One of the hottest automotive brands in China is the one your grandparents likely drove: Buick. Buick’s success in China remains what many industry observers say is key to the survival of the Buick brand, which still seems to be struggling on its home turf in the U.S. — just a decade after the brand
Investors hoping for big returns from financial markets this year are going to have to dial back their expectations, according to the chief global equity strategist at Goldman Sachs. A stock market rebound at the beginning of 2019 comes after a period of gloomy market sentiment in the final three months of last year. U.S.-China
Millennials expect to go all out for their partners this Valentine’s Day. They also expect to be showered with gifts in return. And you can blame social media for it. That’s the finding of a new survey from Bankrate.com, which polled 1,019 people by phone last month. Participants in the 23-to-29 age cohort anticipate spending
Warren Buffett has said in the past that he isn’t “a card-carrying Democrat,” but as the son of a conservative Republican congressman from Nebraska, he did ultimately break with dad on politics. Buffett has long been a supporter of liberal causes and candidates, dating back to at least the civil rights era and including public
SoftBank Group Founder and Chief Executive Masayoshi Son, already one of Asia’s richest men, may have just added billions into his pocket from Thursday’s trading session. SoftBank’s stock ended Thursday’s session in Japan at 9,962.0 yen per share, a 17.73 percent gain over its last close at 8462.0. Son owned 231,205,000 shares in the Japanese
Swedish financial technology start-up Tink says it’s raised 56 million euros ($64 million) in a funding round aimed at fueling its expansion plans. The funding exercise values Tink at approximately 240 million euros ($273 million), a person familiar with the deal told CNBC on the condition of anonymity as the valuation has not been publicly
Tapestry blamed falling tourist spending and a slowing global economy for a cut in its forecast for full-year adjusted profit on Thursday, as it reported disappointing holiday numbers and a fall in sales at Kate Spade handbags. Shares of the New York-based fashion house fell 12 percent to $34.53 in early trading after it said
[The stream is slated to start at 07:30 ET. Please refresh the page if you do not see a player above at that time.] Bank of England Governor Mark Carney is speaking at a press conference following the U.K. central bank’s latest monetary policy decision. The BOE kept interest rates unchanged Thursday, in line with
President Donald Trump gave a ringing endorsement for federal paid family leave at his second annual State of the Union address on Tuesday. Many Americans are not so sure. A recent poll shows that public support mostly depends on one thing: how much it will cost. “I am also proud to be the first president
Canada Goose Holdings Inc.: “I’m surprised that this stock acts so badly. I’m wondering if people feel like it’s really that much of a winter play and it wasn’t cold enough. [CEO] Dani Reiss is doing a remarkable job. The stock, at $55, is a buy. And, by the way, I think they’re going to
An estate on Indian Creek Island sold for $50 million, making it the most expensive single-family home ever sold in the Miami area, according to people familiar with the deal. The property, at 3 Indian Creek Island Road, was not officially listed, but had sold in 2012 for $47 million. At the time, that marked
Check out the companies making headlines after the bell: Shares of Chipotle rose as much as 10 percent in extended trading Wednesday after the company reported earnings that beat Wall Street’s expectations. The restaurant chain earned $1.72 per share on revenue of $1.23 billion, versus $1.37 on revenue of $1.19 billion, according to a survey
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