American companies are sitting on piles of cash, frustrating investors and leading some on Wall Street to wonder why they aren’t spending. Microsoft currently has the largest cash pile at $136.6 billion as of last quarter, according to estimates from FactSet. Berkshire Hathaway, Alphabet and Apple occupy the other top spots, with $128.2 billion, $121.2
Investing
A banner announcing the IPO of Uber Technologies hangs outside the New York Stock Exchange, May 10, 2019. Andrew Kelly | Reuters Insider selling is likely to keep Uber shares under pressure for the rest of November following the expiration of the stock’s lockup period, according to Bank of America Merrill Lynch analysis. Wall Street
Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019. Al Drago | Bloomberg | Getty Images Central banks have been giving cheap money to investors who have been injecting it into companies that are often
Vertical Research Partners is the first firm to begin covering Virgin Galactic, initiating the space tourism venture’s stock with a “buy” rating and saying its risk “is misunderstood.” “We think the technical risk to SPCE’s human spaceflight program is less draconian than the stock appears to be pricing in,” analyst Darryl Genovesi said in a
Some Robinhood users have been manipulating the stock-trading app to trade with what they’re calling “infinite leverage.” The cheat code was being shared on social media site Reddit, with one trader claiming he took a $1,000,000 position in stock using only a $4,000 deposit. Through Robinhood Gold, the start-up’s subscription service, users can borrow money
A Beyond Burger, a vegan veggie burger, is seen at the Vedang fast food restaurant in the Mall of Berlin on May 18, 2019 in Berlin, Germany. With fast food chains such as Burger King, Chick-Fil-A, Taco Bell and Dunkin’ Donuts now offering ‘fake meat’ versions of their main meal options, the vegan burger industry
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America decided to move up an increase in the company’s minimum to early 2020 from 2021. The company announced Monday that its workers will earn a minimum of $20 per hour starting by the end of next year’s first quarter. Bank of America’s
Getty Images Stocks that pay big dividends haven’t been this cheap in at least 40 years, according to Goldman Sachs. The valuation gap between high- and low-dividend-yield stocks is close to the widest it has been since around 1980, the bank said. The market is pricing in “an overly pessimistic” level of dividend payouts with
TOPSHOT – A vehicle passes an anti-Brexit pro-Irish unity billboard seen from the Dublin road in Newry, Northern Ireland, on October 1, 2019 on the border between Newry in Northern Ireland and Dundalk in the Irish Republic. – Britain will give the EU new proposals for a Brexit deal “shortly”, Prime Minister Boris Johnson said
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images Netflix needs a cheaper streaming option to survive the streaming wars, according to Needham. The firm said the streaming platform needs advertising dollars to
An employee passes the Google logo. Carsten Koall/Getty Images Democrats and Republicans don’t agree on much these days, but their mutual distrust of big tech stocks poses an underappreciated threat to companies like Google and Facebook, according to Goldman Sachs. And while the Department of Justice and the Federal Trade Commission already announced investigations into
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images Federal prosecutors have asked for two civil cases against J.P. Morgan Chase be put on hold until they have finished a related criminal prosecution involving current and former precious metals traders at the nation’s largest
The market is breaking out as global economic data is taking the edge off the slowdown narrative. The marginal mover of stocks this year has been the Federal Reserve, trade, and the global economic slowdown, led by weakness in Europe and China. The global economic slowdown has even encompassed worries about a slowdown in the
A Delta Air Lines jet taxis beyond parked Southwest Airlines planes at McCarran International Airport September 12, 2005 in Las Vegas, Nevada. Ethan Miller| Getty Images Here are the biggest calls on Wall Street on Friday: Citi initiated Delta Airlines & United Airlines as ‘buy’ Citi initiated several airline stocks and said it liked Delta’s
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Disney. Karen Finerman was a buyer of Target. Brian Kelly was a buyer of the Gold Miners ETF. Dan Nathan was a buyer of the 20+ Year Treasury Bond ETF. Disclosure Trader disclosure: Brian Kelly is long GLD.
If you’re changing your Medicare coverage during open enrollment and you plan to travel at some point, make sure you know whether your insurance will go with you. Coverage away from home depends partly on where you travel to, along with whether you’re on basic Medicare or get your benefits through an Advantage Plan. It
Chevron reported a 36% decline in third-quarter earnings as lower oil and natural gas prices offset an increase in production. Chevron earned $2.6 billion in the third quarter, down from $4 billion a year earlier. Both EPS and revenue missed the Street’s expectations. The stock was about 1% lower in early trading. Chevron said that
Former Massachusetts Governor and Republican presidential candidate Mitt Romney is interviewed at the Silicon Slopes Tech Conference on January 19, 2018 in Salt Lake City, Utah. George Frey | Getty Images Sen. Mitt Romney, R-Utah, is taking the lead on a new proposal aimed at fixing funding shortfalls for Social Security, Medicare and the nation’s
Exxon and Chevron report earnings on Friday before the bell as energy companies continue to struggle, pressured by falling oil prices, waning demand and squeezed margins. The Street is expecting Exxon’s earnings to plummet by more than 50% from a year ago. For Chevron, it’s a more modest 29% decline. Exxon Exxon is expected to
A Pinterest banner hangs on the facade of the New York Stock Exchange (NYSE) in New York City, September 22, 2017 Brendan McDermid | Reuters Check out the companies making headlines after the bell: Shares of Pinterest plummeted 20% after the bell following the company’s third-quarter revenue miss, coming in at $279.7 million, which was
A woman works in a Macintosh boot factory in Lin’an, located in the east China province of Zhejiang. Feature China | Barcroft Images | Barcroft Media | Getty Images A private survey showed factory activity in China expanded in October with the Caixin/Markit PMI coming in at 51.7. Analysts polled by Reuters had expected the
MACON, Ga. — At 5:01 a.m. on Thursday October 24, Dr. Wayne Johnson, who was hired by the Trump administration to oversee the country’s $1.6 trillion in student loan debt and its 44 million borrowers, submitted his resignation letter to Education Secretary Betsy DeVos. Around an hour later, Johnson made an announcement that hurled him
New Apple Watches Source: Apple Apple turned in stronger than expected fourth-quarter results but a second consecutive quarter of strong growth for wearables impressed analysts, who are looking for the tech giant to innovate beyond the iPhone. “Wearables continue to lead growth. Many investors attributed 50% wearables growth in the June quarter to shorter lead
Thomas Barwick | Getty Images Financial advisors and wealth managers counsel others on money matters. Doling out financial advice is their bread and butter. And like doctors who turn to other physicians when they’ve got their own aches and ailments, financial advisors often rely on others’ opinions when planning their own finances. And, in some
Mary Smyth | Moment | Getty Images For older adults, perhaps nothing is scarier than the prospect of spending their later years in a nursing home. More than 1 in 2 adults aged 50 and over said that they would rather die than live in a long-term care facility, according to a recent survey from
Former Exxon CEO Rex Tillerson said the company tried to understand the impact of climate change, and tried to accurately communicate the impact to shareholders, as he testified on Wednesday in New York during the second week of a trial against the oil giant. The case, brought by New York Attorney General Letitia James, alleges
Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019. Sarah Silbiger | Reuters Most major Wall Street economists expect the Federal Reserve to cut its key interest rate by a quarter point at the conclusion of its two-day meeting on
More people could be in danger from rising sea levels than previously thought, a new study says. The report, published on Tuesday by Nature Communications, found that by the end of the century as many as 630 million people could live on land below projected flood levels. This is three times greater than prior estimates.
Sergei Konkov | TASS | Getty Images As Alphabet shares fell after the Google-parent missed Wall Street’s third-quarter earnings expectations, one analyst proposed a solution: Divest YouTube, one of the tech giant’s most valuable assets. “We think GOOGL should spin off part or all of YouTube, which we estimate would be worth $300B on a stand-alone basis,”
Virgin Galactic‘s leadership expects millions of space tourists will want to fly in the next decade, more demand than can be fulfilled by both Richard Branson’s company or Jeff Bezos’ Blue Origin, its closest competitor. “Ultimately we think this is going to be a capacity constrained market – more people are going to want to
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