Accenture on Thursday raised its full-year profit forecast after reporting better-than-expected second-quarter earnings, benefiting from its investments in digital and cloud services. The consulting and outsourcing services provider’s shares rose 4 percent before the opening bell. Much of Accenture’s recent growth has been driven by digital and cloud services, which include everything from managing clients’
Month: March 2019
The low expectations surrounding the new Goldman Sachs-linked credit card that Apple plans to roll out is good news for both stocks, CNBC’s Jim Cramer said Thursday. Apple’s new TV platform, which will be a key component of the tech giant’s fledgling services businesses, has made the most noise, but the credit card will be
Start spreading the news: New Yorkers are coughing up the most cash in state income taxes. The Empire State collected $2,249 per capita in individual income taxes during the 2017 fiscal year, according to data from the Tax Foundation. Connecticut was second, with $2,218 in individual income taxes per capita. Massachusetts came in third with
CNBC’s Jim Cramer on Wednesday explained why his charitable trust owns the stock of Citigroup, which is down about 11 percent in the last year and a far cry from its all-time highs in the $500 range last decade. The head and heart don’t align on the security, but the stock is “ridiculously cheap,” he
Swedbank dramatically dismissed its Chief Executive Birgitte Bonnesen on Thursday shortly before its annual meeting after the lender faced allegations it was involved in money laundering in the Baltics. “The developments during the past days have created an enormous pressure for the bank. Therefore, the Board has decided to dismiss Birgitte Bonnesen from her position,”
Lululemon beat on the top and bottom line for its fourth-quarter earnings released Wednesday. Here’s what the retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.85 per share, vs. $1.74 per share Revenue: $1.167 billion, vs. $1.151 billion Same store sales: increased 17
Apparel maker PVH on Wednesday forecast full-year adjusted profit and sales above Wall Street expectations, banking on higher demand for its Tommy Hilfiger branded apparels and accessories. Shares of the Calvin Klein owner, which also reported better-than-expected fourth-quarter sales and profit, rose 10 percent after the bell. The New York-based company has been giving lesser
A spring break vacation that won’t bust your piggy bank takes some creativity. While many students think Bahamas or Mexico or bust, you can have a less spend-y getaway, especially if one of your friends has a car. Try a road trip for low-cost transportation. Plus, you’ll have wheels to get around when you reach
Investors should expect high-growth technology stocks to be sold off as investment funds free up cash to buy into the wave of new initial public offerings, CNBC’s Jim Cramer said Wednesday. A few companies slated for IPOs this year include ride-hailing apps Lyft and Uber, hospitality platform Airbnb, data intelligence company Palantir, and workspace operator
The Federal Reserve’s March meeting was expected to have been uneventful. Instead, it helped set off what is now a week’s worth of upheaval in global bond markets that could still have a ways to go. Across the world’s financial markets, bond yields have been sliding as investors jump into sovereign debt and the expectations
Southwest Airlines shares slipped 1 percent in premarket trading on Wednesday after the low-cost carrier trimmed its revenue forecast following the grounding of its Boeing 737 Max planes. The Dallas-based airline expects its revenue per available seat mile, a key industry metric of how much an airline generates for each seat it flies a mile,
Centene CEO Michael Neidorff on Wednesday told CNBC his company’s $15 billion acquisition of WellCare Health Plans “made more sense than I’ve seen in a long time.” “What I’ve always found [is] when there’s a certain amount of uncertainty, there’s a challenging environment, that’s the time to act,” he told “Mad Money’s” Jim Cramer in
As far as Tatiana Skomski is concerned, the American Dream is alive and well — although just beyond reach. Skomski, 24, lives with her boyfriend, K.J., and their dog, Lola, in Portland, Oregon. They picture getting married, buying a house and starting a family. “It’s a conversation we have probably every day,” she said. “I
Investments in real assets, whether on the equity side or the debt side, offer seemingly endless options for fixed income. If you can build it or finance it, you can invest in it. One easy-to-understand way to attain real estate participation for clients is through real estate investment trusts, which allow individual investors to buy
Dow Inc. will replace DowDuPont in the Dow Jones Industrial Average following the chemical corporation’s breakup into three smaller companies, S&P Dow Jones Indices said on Tuesday. The rearrangement of the widely followed blue-chip index of 30 companies would happen on April 2 before the U.S. stock market opens, S&P Dow Jones Indices said in
The Indian market is unlikely to suffer no matter the outcome of India’s parliamentary elections, which is starting next month, according to a Credit Suisse strategist. Historical performances of major Indian indexes, Sensex and Nifty 50, around the last six elections indicate the polls have had little impact on the market, Neelkanth Mishra, co-head of
WeWork, the company whose co-working spaces are populating many of the world’s biggest cities, said that revenue last year more than doubled, though its losses are growing just as fast. In a presentation sent to CNBC on Monday, WeWork said revenue in 2018 climbed to $1.8 billion from $886 million a year earlier. Members, or
Lennar, the second-largest U.S. homebuilder, on Wednesday posted a 76.1 percent jump in quarterly profit, as easing mortgage rates boosted homebuyer appetite. Net income attributable to Lennar rose to $239.9 million, or 74 cents per share, in the first quarter ended Feb.28, from $136.2 million, or 53 cents per share, a year earlier. Total revenue
Procrastinating on your tax returns is bad enough. Skipping out on them — and the taxes owed — could put you in a lot of hot water. Michael Avenatti, formerly a lawyer for adult film actress Stormy Daniels, was charged with bank fraud and wire fraud on Monday. Federal authorities allege the attorney gave a
If you want to see how the funds you’re invested in fare when it comes to environmental, social and governance factors, there’s a rating for that. The Morningstar Sustainability Rating measures how well an investment fund’s holdings stack up on ESG issues compared to its peers. The measurement is put together using the thousands of
It’s something you hope will never happen: the phone call that changes everything. When Chanel Reynolds found out her husband, Jose, had been hit by a car while out cycling, it was not only an emotional shock — she also wasn’t fully equipped to handle all of life’s details. That meant “everything from not having
WASHINGTON — A former top broker in Puerto Rico for the Swiss banking giant UBS was sentenced to a year and a day in prison Tuesday, months after he pleaded guilty to criminal bank fraud for pocketing $1 million in commissions in a scheme that saw many investors lose their life savings. Jose Ramirez will
Shares of Canadian pot company Cronos slid by more than 5 percent Tuesday after reporting disappointing fourth-quarter revenue. In the quarter, Cronos’ sales totaled 5.6 million Canadian dollars ($4.2 million), up from CA$1.6 million ($1.2 million) in the same period last year and calculated based on today’s exchange rates. Yet that figure was still well
Wall Street needs to see more mergers and acquisitions come through before the “coming onslaught” of initial public offerings jams up investing capital, CNBC’s Jim Cramer said Tuesday. Major U.S. indexes traded strong out the gate Tuesday, but gave up most of their gains before the close. The Dow Jones Industrial Average added more than
If you have an individual retirement account, you’re going to miss out on a tax break this spring. The 2018 tax year is the first time taxpayers will file returns under the Tax Cuts and Jobs Act. This overhaul of the tax code doubled the standard deduction, eliminated personal exemptions and curbed itemized deductions. One
Warren Buffett, chairman and CEO of Berkshire Hathaway, is for many people the first source to consult when it comes to the development of an investing philosophy. The billionaire investor has has never shied away from sharing his views with the public, either — and not only when it comes to stock market value. Issues
CNBC’s Jim Cramer on Monday briefly commented on celebrity lawyer Michael Avenatti’s recent legal woes and how it relates to Nike’s stock. Avenatti was arrested in New York City for an alleged attempt to extort as much as $25 million out of Nike. In an apparent move to take down the sports apparel giant, he
European equities are set to start Tuesday’s session in the black, as the 10-year U.S. Treasury yield came off lows that heightened fears of a recession. Britain’s FTSE 100 was seen 17 points higher at 7,201, Germany’s DAX up 51 points at 11,402 and France’s CAC rising 17 points at 5,280, according to IG index
Samsung Electronics said Tuesday morning it expects first quarter earnings to come below market expectations due to weakness in its display and memory businesses. In a regulatory filing, the world’s largest smartphone maker said it predicted a bigger-than-expected price decline for major memory products due to seasonal weakness in demand. Those components are used in
Uber has reached a deal to acquire ride-hailing competitor Careem for $3.1 billion, the companies announced Tuesday. Dubai-based Careem, founded in 2012, claims more than 30 million registered users and sells car-hailing services in 120 cities across North Africa, the Middle East and South Asia, from Morocco to Pakistan. The companies characterized the deal as
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