Even if the May pullback lingers until summer, Cresset Capital’s Jack Ablin plans to embrace it. He believes market and economic fundamentals are intact, and a U.S.-China trade deal isn’t essential to keeping the bull market alive. Ablin cites liquidity —the ability and desire to borrow, spend and invest money — as a critical driver
Month: May 2019
Papa John’s swung to a loss in the first quarter as the steps the embattled pizza chain is taking to bolster its business and legal fees hit earnings. But excluding these charges, the company topped Wall Street’s expectations. Shares seesawed in extended trading Tuesday, sometimes rising as much 5% before trending back downward. The company
Life360 Co-founders Alex Haro, left, and Chris Hulls ring the bell at the Australian Securities Exchange. Life360 Social media company Life360 went public on Friday, the same day that fellow San Franciscan Uber debuted and amid a wave of Bay Area IPOs from names like Lyft, Pinterest and Zoom. But unlike its neighbors, which trade
Lawmakers have introduced a bill that would make it easier for student loan borrowers to cancel their debt in bankruptcy. The measure, which is supported by 14 Democrats, one Republican and one independent, is dubbed the Student Borrower Bankruptcy Relief Act of 2019. “Americans struggling financially should have the option to discharge their student loans
Tesla‘s increasing production rate and active resale market may be hurting the brand’s appeal and diminish demand for its cars, Morgan Stanley said on Friday, in a counter-intuitive note to clients. “Many auto companies make great efforts to maintain and remarket their used vehicles to increase accessibility of the used product to customers who otherwise
Panoramic Images | Getty Images Private equity has taken center stage in active investing, and that means the stock market and its investors could face more challenges — especially in a recession. The transition is already underway and according to asset manager AllianceBernstein, won’t be ending soon. In a note to clients this week, the
Honda Motor forecast on Wednesday a 6% increase in operating profit for the current fiscal year due to cost reduction efforts and a restructuring of its production network in Europe. Japan’s third-largest automaker signaled that it was looking to reduce global production costs by 10% by 2025 and scale back the number of model variations,
The 2020 Toyota Supra rear-wheel-drive sports coupe is revealed at the 2019 North American International Auto Show during Media preview days on January 14, 2019 in Detroit, Michigan. Bill Pugliano | Getty Images We’ve been hearing the word, “passion,” a lot from Akio Toyoda since he was named president, in 2009, of the company his
There’s no doubt that college is expensive. Tuition and fees for a four-year private college averaged $35,830 in 2018-19; at four-year in-state public colleges, it was $10,230, according to the College Board. And that doesn’t count room and board or other expenses. Few families have the cash to cover it, and that’s where borrowed money
The U.S. government on Friday approved the formation of a new Silicon Valley stock exchange following a regulatory criticism late last year. Backed by top Valley figures such as venture capitalist Marc Andreessen, the Long-Term Stock Exchange was born out of concern from the nation’s tech elite who were frustrated that the public market’s focus
Do you want to live in the same apartment once occupied by the most famous alleged female fraudster of the 21st century? You’re in luck. The notoriously secretive Elizabeth Holmes, charged with nine counts of wire fraud, two counts of conspiracy to commit wire fraud and awaiting her criminal trial, lived at Lombard Place Apartments
Bob Iger Stephen Desaulniers | CNBC This week, several large traditional media companies provided us with data points that nicely illustrate today’s confusing media world: Let’s start with Disney, which announced its quarterly earnings on May 8. This week, Sinclair acquired Disney’s 21 regional sports networks (which it got when it bought Fox) for $9.6
Several 2002 Toyota Camrys are visible at Bredemann Toyota August 8, 2002 in Park Ridge, Illinois. Tim Boyle | Getty Images News | Getty Images Toyota Motor forecast lower growth in operating profit for the current year on an expected drop in revenue and weaker vehicle sales in Japan and North America, underscoring the hard
Dyson, a British manufacturer best known for vacuums, fans, air purifiers and hand dryers, could add electric vehicles to its product portfolio, the company confirmed this week, releasing images of new patents it has received. “We’ve been researching motors, batteries, aerodynamics, vision systems and robotics for 22 years. Now the time is right to bring
If community college is in the cards for your high school senior, don’t wait until the fall to prepare. Having the right strategy going before starting on that path to an associate’s degree can help your child finish his education on time or make a successful transfer to a four-year college. “For the 17-year-old whose
Apple shares have slid steadily amid tumultuous U.S. trade negotiations with China, as investors fear CEO Tim Cook’s warning earlier this year about iPhone sales in China may yet come true. Apple’s stock is down more than 7% since President Donald Trump declared he would increased tariffs on $200 billion of Chinese goods to 25%.
Bitcoin far outperformed major U.S. markets this week. The world’s largest cryptocurrency climbed as high as $6,426.83 on Friday, bringing its one-week gains to more than 12%. Bitcoin is now up 70% since the start of this year. Earlier this week, the cryptocurrency hit the $6,000 level for the first time since mid-November. It still
Symantec stock fell as much as 15% Thursday after the security company said its president and CEO, Greg Clark, has stepped down. The company is looking for a replacement. Symantec director Richard Hill, formerly CEO of Novellus Systems, was named interim president and CEO, effective immediately, according to a statement. “As we enter into a
Wall Street on Monday should expect to see China’s retaliation to higher tariffs from the United States. But the Chinese have done a great deal to limit foreign competition in the country, and that could prove problematic for them in the trade war, CNBC’s Jim Cramer said Friday. “In short, despite what you may have
In the ongoing battle between President Donald Trump and the Federal Reserve over interest rates, it’s consumers that are caught in the middle. The Fed has already hiked its benchmark rate nine times since December 2015. In March, it indicated that it is likely done with increases for the rest of 2019 despite previously forecasting
President Donald Trump on Friday claimed a victory of sorts in an ongoing trade war with China, asserting that his latest round of import tariffs on Chinese goods will force China to pay “$100 billion” to the U.S. Treasury. Not only is Trump overstating the amount of those payments, he’s apparently unaware of who pays
Important data on the consumer and manufacturing is released in the week ahead, and investors are watching to see what it says about two key parts of the economy as new tariffs go into effect on Chinese goods. The economic reports should show how the economy is faring so far in the second quarter, following
GoPro raised its full-year revenue forecast and reported a smaller-than-expected loss on Thursday, boosted by strong demand for its new line of action cameras from its flagship brand HERO, sending its shares up 13%. The company’s action cameras, which are popular among surfers, sky divers and Instagram travel bloggers, have been facing stiff competition from
LVMH announced Friday that it will partner with Robyn Rihanna Fenty to create a new luxury fashion house under the label “Fenty.” This would put Fenty under the same umbrella as LVMH’s other luxury fashion houses including Louis Vuitton, Christian Dior, Fendi and Givenchy. LVMH said the Paris-based brand will launch its first line this
As millennial women enter their 30s, demand for customized and affordable egg freezing services is spiking. The biggest question women have? How to pay for it. On average, women spend $15,000 to $20,000 per cycle and opt for two cycles, according to Fertility IQ, , a digital database for information about fertility benefits and treatments.
Occidental Petroleum may have spoiled Chevron‘s plans to acquire oil and gas driller Anadarko Petroleum, but Wall Street is not pronouncing the oil company the loser in the buyout battle. Several analysts are commending Chevron for declining to counter Occidental’s $38 billion bid for Anadarko. Chevron not only walks away with a $1 billion breakup
Millennials have hugely unrealistic expectations about when and how much they will inherit, according to new research. According to the investment management firm Charles Stanley, millennials expected to be left an average £129,380 ($168,450) – but official statistics showed that the average inheritance in the U.K. is currently £48,000, while the median inheritance is £11,000.
U.S. equity futures were little changed Thursday as traders awaited a midnight deadline for tariffs to increase. Stock futures opened slightly lower, with S&P futures contracts down 0.1%. Dow and Nasdaq futures both fell 0.12%. China’s Vice Premier Liu He is meeting with top U.S. trade officials Thursday evening in Washington, just hours before the
A woman talks on a mobile phone as she walks past a Sprint Corp. store in Palo Alto, California. Kevin Winter | Getty Images Sprint on Tuesday reported deeper losses than feared of monthly phone subscribers despite discount offerings, raising concerns that the wireless carrier may not be sustainable if its pending merger with T-Mobile
CNBC’s Jim Cramer said Thursday that his colleague is warning that danger could be on the horizon for the stock market. The “Mad Money” host took a look at chart analysis as interpreted by technician Carolyn Borogen, Cramer’s coworker at RealMoney.com who also runs FibonnacciQueen.com, to understand what could come of this volatile market. The
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