Digital Vision | Photodisc | Getty Images If you tied the knot last year, it may be worthwhile checking what your new status will mean for your 2020 taxes. While many couples see their tax bill drop post-nuptials, some face a “marriage penalty” — that is, paying more in taxes than if they had remained
Month: January 2021
New York University finance professor Aswath Damodaran told CNBC on Thursday the trading frenzy in GameStop and AMC Entertainment shares do not change the companies’ fundamental problems and calls into question the long-term strategy for online investors who sparked the short squeeze in the stocks. Known as the “Dean of Valuation” for his company analyses, Damodaran
To defy Wall Street hedge funds and the stocks they bet against, a group of retail investors on Reddit forum r/WallStreetBets rallied together to help drive the stock price of GameStop, AMC Entertainmentand BlackBerry, to name a few. Many traditional investors are concerned by the speculative trading, but billionaire Mark Cuban is not one of
Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange U.S. stock futures moved lower in overnight trading on Thursday, as Wall Street’s volatile week continued. Dow futures fell about 80 points. S&P 500 futures dropped 0.32% and Nasdaq 100 futures lost 0.30%. On Thursday, the Dow Jones Industrial
NBCUniversal kicks off it’s new Peacock streaming service. Todd Williamson | Peacock | NBCUniversal | Getty Images Comcast is set to report fiscal fourth-quarter earnings before-the-bell on Thursday. Here are the key numbers Wall Street is expecting: Earnings per share: 48 cents expected, according to Refinitiv survey of analysts. Revenue: $26.78 billion expected, according to
Biotech firm Novavax said Thursday that its coronavirus vaccine was more than 89% effective in protecting against Covid-19 in its phase three clinical trial conducted in the United Kingdom. The results were based on 62 confirmed Covid-19 infections among the trial’s 15,000 participants. The company said 56 cases were observed in the placebo group versus 6
Signage stands in a GameStop Corp. store in Peru, Illinois. Daniel Acker | Bloomberg | Getty Images It’s the stock rally no one quite predicted. In recent years, GameStop, a video game retailer, has been shrinking its retail presence by closing hundreds of stores. Yet this week, its stock popped dramatically. On Wednesday, GameStop shares
The wild trading involving GameStop shares presents a broader threat to the U.S. equity market, the chief securities regulator in Massachusetts told CNBC on Wednesday. “The marketplace should be a place where risk is taken, but not reckless risk and not a situation that undermines the system and that’s what we’re looking at here,” Massachusetts
Call them the Reddit Rich. GameStop’s parabolic stock surge over the past two weeks, driven partly by the Reddit Wallstreetbets crowd, has created more than $2 billion in personal wealth for the company’s three biggest individual shareholders. While it may not last long, the massive shareholder gains created in such a short time gives new
From geopolitical tensions to the coronavirus pandemic and disputes over trade, modern life can often feel bewildering, insecure and disjointed. One area where there does seem to be some renewed sense of unity is the environment. Just last week, U.S. President Joe Biden signed an executive order to re-join the Paris Agreement on climate change,
Apple CEO Tim Cook reveals the new iPhone 12. Source Apple delivered its largest quarter by revenue of all time on Wednesday at $111.4 billion in its first-quarter earnings report for fiscal 2021. It’s the first time Apple crossed the symbolic $100 billion mark in a single quarter, and sales were up 21% year-over-year. Apple stock declined less than a percent in
A preview of Sandro Botticelli’s “Young Man Holding a Roundel” at Sotheby’s on January 22, 2021 in New York City. Cindy Ord | Getty Images An ultra-rare portrait by the famed Italian painter Sandro Botticelli could fetch $80 million or more when it comes up for sale at Sotheby’s on Thursday. The auction marks the
Ariana Drehsler | AFP | Getty Images A shift in federal health-care policy appears to be underway. As early as Thursday, President Joe Biden is expected to issue executive orders to temporarily reopen the health insurance exchanges and to address roadblocks encountered when low-income households try to access Medicaid. Although details are slim, the actions
A customer holds a GameStop shopping bag inside a store in San Francisco. David Paul Morris | Bloomberg | Getty Images Wall Street has been watching GameStop in awe as a band of Reddit-obsessed retail investors managed to push the stock up 1,500% in two weeks, squeezing out short-selling hedge funds. A wave of at-home
Bill Gates was “very surprised” when he and Dr. Anthony Fauci became the targets of “crazy” and “evil” conspiracy theories related to the ongoing coronavirus pandemic, Gates told Reuters on Wednesday. The billionaire Microsoft co-founder and White House advisor Fauci, the nation’s top infectious diseases expert, have been frequent targets for baseless coronavirus conspiracy theories,
President Joe Biden and former President Donald Trump at the U.S. presidential debate Oct. 22, 2020. Kevin Dietsch/UPI/Bloomberg via Getty Images Presidents Joe Biden and Donald Trump were far apart on many issues — tax policy among them. The Biden administration is seeking to dismantle or reverse many aspects of his predecessor’s signature tax law.
Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020. U.S. electric car company Tesla in 2019 built its first Gigafactory outside the United States in the new Lingang area, with a designed annual production capacity of 500,000 units. Ding Ting | Xinhua News Agency | Getty Images Tesla is expected to
William Zabka and Ralph Macchio reprise their roles as Johnny Lawrence and Daniel LaRusso from the “Karate Kid” in “Cobra Kai.” Netflix Reboots, remakes, revamps, call them what you want, Hollywood has spent decades recycling popular franchises and cult favorite films trying to capture the attention of a new generation. This trend is nothing new
President Biden delivers remarks before signing a “Made in America” Executive Order at the White House on Jan. 25, 2021. Jim Watson | AFP | Getty Images A new $1.9 trillion plan pushed by President Joe Biden includes a host of initiatives aimed at shoring up Americans’ finances as the Covid-19 pandemic rages on. That
The stock market’s rally during spiking Covid cases, which could threaten the U.S. economy’s recovery, may be justified by strong earnings from struggling American industrial companies, CNBC’s Jim Cramer said Tuesday. “These are astounding numbers,” Cramer said on “Squawk on the Street,” referring to quarterly results from General Electric and Raytheon. “It makes you feel
Billionaire investor Mark Cuban has been bullish on the future of artificial intelligence for years, and he makes it a priority to learn about and invest in AI. In fact, Cuban asks himself “How good is the company at AI?” before investing, he tweeted on Saturday. “It’s the foundation of how I invest in stocks these days. The companies
A logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China October 29, 2020. Aly Song | Reuters GUANGZHOU, China — Ant Group’s initial public offering (IPO) could resume if the company resolves its issues, China’s central bank governor hinted on Tuesday. The Ant
Satya Nadella, chief executive officer of Microsoft Corp., speaks during the Viva Technology conference in Paris, France, on Thursday, May 24, 2018. Viva Tech, a three-year-old event for startups, gathers global technology leaders and entrepreneurs as the French establishment unites behind a push for more tech investment in Paris. Marlene Awaad | Bloomberg | Getty
Starbucks Chief Operating Officer Rosalind Brewer will replace Stefano Pessina as CEO of Walgreens, according to The Wall Street Journal. Starbucks announced Brewer’s departure earlier Tuesday, saying she was leaving at the end of February for a CEO position at an undisclosed publicly traded company. Officials from Walgreens weren’t immediately available to comment, on the
Frederic J. Brown | AFP | Getty Images What a long year of Covid it’s been. Twelve months after the first case was confirmed in the U.S. in January 2020, American life and family finances continue to look different than they did pre-pandemic. While wealthier households — mostly college-educated and White — have largely rebounded
SpaceX’s Crew Dragon Endeavour seen docked with the International Space Station on July 1, 2020. NASA A pair of investors are joining the first fully-private flight to the International Space Station — not as financial backers, but as the passengers flying along. Houston-based start-up Axiom Space on Tuesday unveiled that real estate investor Larry Connor
The richest of the rich are polluting the world and driving climate change, while the poorest of the poor suffer the greatest consequences, according to a new report published Monday by Oxfam International. The richest 1% of the global population have used two times as much carbon as the poorest 50% over the last 25
Kevin Dietsch/UPI/Bloomberg via Getty Images President Joe Biden wants to avoid another unemployment benefits cliff. Instead of an abrupt end to jobless benefits, as occurred for millions of Americans the day after Christmas, Biden wants to gradually phase out aid over time. The mechanism to achieve this goal is known as an “automatic stabilizer,” in
Johnson & Johnson Coronavirus vaccine illustration Dado Ruvic | Reuters Johnson & Johnson on Tuesday reported fourth-quarter earnings and revenue that beat Wall Street’s expectations. Here’s how J&J did compared with what Wall Street expected, according to average estimates compiled by Refinitiv: Adjusted EPS: $1.86 per share versus $1.82 expected. Revenue: $22.48 billion versus $21.67 billion
Levi’s will have a limited time collection at Target, which includes over 100 home goods, apparel and other items. Target Target will launch a limited-time collection of home goods, pet accessories, apparel and other denim-inspired items with Levi Strauss & Co. as it looks to build on its sales momentum during the coronavirus pandemic. The new
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