First it was Vine, then Yik Yak, then HQ Trivia: Mobile apps that shot up in downloads and took the digital world by storm. Almost just as suddenly, they all fell from public favor and off the top charts. TikTok, the latest app to skyrocket in popularity, recently unseated Instagram, YouTube and Snapchat as the
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Iconic off-road automaker Land Rover is sprucing up a model that has become one of hottest sellers in the rapidly growing luxury compact sport utility vehicle segment. When the Range Rover Evoque makes its global debut on Thursday, it will be the first time the popular and relatively affordable vehicle has been refreshed since 2015.
China‘s massive consumer base is feeling a chill that could have ripple effects throughout an economy that’s already under pressure. While analysts say individuals are generally financially healthy, many are holding off on spending due to uncertainty about the future. “A decline in consumption is the biggest risk, because everyone already knows about the decline
GameStop announced Wednesday it agreed to sell its Spring Mobile business for $700 million. The stock spiked 15 percent on the news. Prime Communications, L.P. will buy Spring Mobile, which owns and operates 1,289 AT&T wireless stores, according to a press release announcing the news. The deal is expected to close in the fourth quarter
Amazon bought PillPack, an internet pharmacy start-up, earlier this year, leading to speculation that the e-retailer will soon start selling prescription drugs on its marketplace. Before that happens, Amazon may be preparing to provide the service to its own employees. PillPack recently applied for a string of new pharmacy licenses, primarily to ship drugs to
More retailers will be using deep discounts to lure shoppers into stores this holiday season. It’s good news for consumers, but could mean bad news for businesses. Roughly 63 percent of merchandise at department stores like Macy’s and Lord & Taylor will be discounted this year, up from 60 percent last year, according to a
When Sarah Guinn and her family walked into terminal three at Chicago’s O’Hare Airport Wednesday morning, she was pleasantly surprised. “It is pretty calm,” said Guinn, who was flying to Denver for Thanksgiving. “We got here earlier than we needed to I think. You don’t want to get stuck, we got stuck once so we
Autodesk shares jumped as much as 13 percent on Wednesday after the maker of design software reported better-than-expected quarterly results. The stock climbed $12.41 to $135.46 as of mid-afternoon after reaching as high as $139.40. Even with today’s rally, the shares are down more than 12 percent since the end of August amid a broader
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019 — down from the investment bank’s previous forecast of $83.50 a barrel. Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part
Riot Blockchain, the cryptocurrency company whose stock skyrocketed after changing its name, revealed that the Securities and Exchange Commission subpoena and investigation are “still ongoing,” according to its most recent quarterly filing. The company had previously disclosed that the subpoena received on April 9 was “pursuant to a formal order of investigation,” according to its
If Booster Fuels CEO Frank Mycroft has his way, gas stations will one day be obsolete. His start-up, founded in 2014, is filling up cars in parking lots, so drivers don’t have to wait in lines or make extra trips. Booster is now operating across twenty U.S. cities, and in the parking lots of at
When it comes to professional financial advice, there is one question you don’t want to forget to ask. That question is: Is this financial professional a fiduciary? according to Elliot Weissbluth, founder of HighTower Advisors. A fiduciary is a financial professional who has the legal obligation to put you first. That means the recommendations they
Technology makes it easier to overspend, and it’s stressing people out, particularly during the holiday season. Nearly 1 in 4 people said they typically go into debt because of overspending during the season, according to Credit Karma, which surveyed 1,041 adults in October. You know what’s to blame for overspending? Sales. Even people who have
Increased market volatility this year has mostly prompted financial experts to repeat one piece of advice: Stay the course. But as markets are poised for a continued bumpy ride, investors would be wise to keep another tip in mind: Diversify. “Diversification works when you need it the most,” said Chris Hyzy, chief investment officer for
Gold, the classic bear-market investment, has been ignored by investors this year, and for good reason: Gold prices have gone in the wrong direction, losing about $100 in the price per ounce since January, leading gold exchange-traded funds to year-to-date losses near-5 percent. But as more investors fear that the end of the bull market
Scandal-plagued Goldman Sachs has sunk deep into a bear market. Losses accelerated this month following allegations of financial misdeeds regarding the Malaysian government investment fund 1MDB. Regulatory uncertainty surrounding the scandal prompted Morgan Stanley to downgrade its rating to equal weight. Its stock has dropped 14 percent in November, putting it on track for its
If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses. The
Retail stocks jumped on Wednesday after posting eight straight days of losses, the group’s longest losing streak on record. Now, one strategist is calling for bigger gains to come. The XRT, a popular exchange-traded fund that tracks retail stocks, has plunged 14 percent in the last three months, with some of its holdings, such as
The old advice to keep politics and elbows off the dinner table may need to be updated to include bitcoin this year. Last year at this time, the cryptocurrency was just entering its hot streak, soaring in price because retail investors were buying. But it’s likely to be a sore subject for people who bragged
Losing cellphone service is inconvenient. But in some cases, it also might mean you’re getting hacked. San Francisco resident Robert Ross, a father of two, noticed his phone suddenly lose its signal on Oct. 26. Confused, he went to a nearby Apple store and later contacted his service provider, AT&T. But he wasn’t quick enough
Check out the companies making headlines before the bell: Deere – The heavy equipment maker earned an adjusted $2.30 per share for its fiscal fourth quarter, 15 cents a share shy of estimates. Revenue also came in short of Street forecasts. Deere said sales improved from a year ago, thanks to strength in the farm
Goldman Sachs’s stock won’t see meaningful gains until the Malaysian government investment fund scandal is resolved, according to Morgan Stanley, which downgraded its rival investment bank on Wednesday. “It is unclear how long the issue will take to resolve, what the fines and penalties could be, and what costs Goldman Sachs will subsequently incur to
One of Wall Street’s biggest bulls predicts a sharp Santa Claus rally will revive the stock market, which has erased its gains for the year. According to Blackstone investment strategist Joe Zidle, a sentiment problem is behind the latest downturn — not warning signals from U.S. businesses or the economy. “I’m a stubborn bull, and
The equity markets are under stress. By some measures stock prices today are lower than they were at the beginning of the year. To me, the reason for this is relatively clear. The financial system in the United States is undergoing a dramatic shift. It is going from decades of easy money at low- to
Volatile commodity markets often lead to colossal failures, as the founder of a Tampa, Florida-based options firm acknowledged in a bizarre, 10-minute YouTube confession in recent days. In the video, a money manager named James Cordier tells his 290 clients that he couldn’t navigate a “rogue wave” that hit as oil and natural gas markets
A collection of hedge funds’ favorite stock picks — including Facebook, Alibaba and Amazon — are underperforming the broader equity market badly in the second half of 2018. After beating the market in the first half of the year, a basket of the most popular long positions at 823 hedge funds has lagged the S&P
October saw hedge funds notch their worst collective monthly performance since January 2016, according to Preqin a research firm on the industry. Hedge funds lost 2.35 percent on average in October, according to Preqin’s index, while investors withdrew $4.6 billion of hedge fund capital in the third quarter of this year. The hedge fund industry’s
Gap reported quarterly same-store sales below analysts’ estimates on Tuesday, dragged down by another weak performance in its namesake brand, indicating that the apparel retailer needs to double down on efforts to reduce excess inventory and to revive sales. The Gap brand, struggling with a switch by young shoppers to fast-fashion from rivals such as
A boost in construction equipment sales drove profit higher for Deere in the fourth quarter, but the results fell short of Wall Street expectations and pulled on shares before the opening bell Wednesday. The maker of agricultural and construction equipment reported a 46 percent boost in profit, to $784.8 million, or $2.42 per share. Earnings,
Apple is snapping. The stock, once a safe haven from market turmoil, is more than 20 percent below all-time highs and clinging to modest year-to-date gains. The stock has shed more than a $100 billion of its historic $1 trillion market valuation. It’s on pace for its eighth straight week of declines and its worst