Aimstock | Getty Images A measure under consideration in Congress could have big implications for how you view your Social Security statements. The bill, called the Beneficiary Education Tools, Telehealth, and Extenders Reauthorization Act of 2019, or BETTER Act, includes a provision that would reinstate mailed Social Security statements. Since 2012, the Social Security Administration
Month: June 2019
Bernard Weil | Toronto Star | Getty Images Planet Fitness’ affordable and inclusive business model is working for the stock and will drive future growth, according to Raymond James. Raymond James initiated coverage on Planet Fitness with an outperform rating and a 12-month price target of $80, betting that the the gym’s unique business structure
J.P. Morgan Chase, the biggest U.S. bank, is boosting its dividend to 90 cents a share from its current level of 80 cents a share. The bank also can repurchase up to $29.4 billion in stock from July 1 of this year to June 30 of 2020 under a new program. Last year, the lender
A pedestrian crosses the street in front of a Rite Aid Corp. store in Los Angeles, California. Patrick T. Fallon | Bloomberg | Getty Images Shares of Rite Aid seesawed premarket trading Thursday on disappointing quarterly earnings results as the drugstore chain struggles to prove itself as an independent company. Rite Aid lost 99.3 million,
Former FDA Commissioner Dr. Scott Gottlieb speaking at the Healthy Returns conference in New York City on May 21, 2019. Astrid Stawiarz | CNBC Scott Gottlieb, who stepped down as Food and Drug Administration Commissioner in April, will join Pfizer‘s board of directors, the company announced Thursday. Gottlieb resigned from the agency this spring after
When it comes to Social Security benefits, women and minorities tend to receive less money. That means those individuals have a greater chance of retiring into poverty or grappling with financial instability if they become disabled. That also affects their families, who often receive less in dependent or survivor benefits. Congressional Democrats took to the
Federal Reserve Chairman Jerome Powell holds a news conference following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington, U.S., March 20, 2019. Jonathan Ernst | Reuters Despite a policy pivot earlier this year and an even clearer shift just last week, the Federal Reserve remains miles apart from what Wall Street wants.
Flags of the US and China are placed ahead of a meeting between US Secretary of Agriculture Sonny Perdue and China’s Agriculture Minister Han Changfu at the Ministry of Agriculture in Beijing on June 30, 2017. Jason Lee | AFP | Getty Images BEIJING— The Chinese Ministry of Commerce maintained a firm stance against the
Sanjay Mehrotra, CEO, Micron Technology Scott Mlyn | CNBC Shares of memory and storage company Micron rose more than 7% after-hours Tuesday after the company beat analysts’ expectations for its fiscal third quarter of its 2019 earnings. Here are the key numbers: Earnings: $1.05 per share, excluding certain items, vs. 79 cents per share as
U.S. stock index futures were higher Thursday morning, amid hopes the world’s two largest economies could soon reach a truce in their protracted trade war. At around 02:10 a.m. ET, Dow futures rose 66 points, indicating a positive open of more than 72 points. Futures on the S&P and Nasdaq were both seen slightly higher.
A bill that cleared the House on Wednesday includes an amendment that would upend securities regulators’ plans to hold brokers to a new standard when giving advice to retail investors. Added to an appropriations bill that passed 224 to 196, the late addition would prohibit the Securities and Exchange Commission from implementing and enforcing a
Paychex Access payroll card in Brookline, Mass. Pat Greenhouse | The Boston Globe | Getty Images Shares of Paychex dropped on Wednesday after Bank of America downgraded the stock due to its “excessive valuation” and “underwhelming fundamentals.” The bank slashed its rating for the employment services company to underperform from neutral, while keeping its 12-month
Jim McGuire | Getty Images The Social Security program is approaching insolvency. Social Security costs keep escalating, with future expenses for the program expected to be 20% higher than projected revenue. To that point, action must be taken promptly to prevent an across-the-board benefit cut for many current and future beneficiaries, according to the Social
Large U.S. banks will soon have a total average cash yield of 10%, more than what the sovereign debt of countries like Mexico and Brazil pays, according to Wells Fargo analyst Mike Mayo. Lenders including J.P. Morgan Chase and Bank of America are widely expected to increase dividends and share repurchases after the Federal Reserve
General Mills Cereal boxes Joe Raedle | Getty Images Shares of General Mills tumbled Wednesday after the Cheerios maker’s quarterly revenue fell short of analysts’ estimates as fewer Americans eat its snack foods. The company’s stock, which has a market value of $32.2 billion, fell by more than 5% during premarket trading. Net sales for
Atlanta Mayor Keisha Lance Bottoms waits to speak at the Atlanta Press Club luncheon, Tuesday, June 18, 2019, in Atlanta. Andrea Smith | AP City governments are under assault from ransomware, malicious software that infects entire computer networks, freezing up important files and equipment until the organization pays for a key to unlock the information.
A recruiter for The Art Institutes, left, greets a job seeker at a National Career Fairs job fair in San Diego. David Maung | Bloomberg | Getty Images More than 150,000 former students of for-profit colleges filed a lawsuit against the U.S. Department of Education and Education Secretary Betsy DeVos on Tuesday, claiming the agency
Federal Reserve Chairman Jerome Powell stressed the central bank’s independence in a speech Tuesday that comes amid continuous pressure from the White House to cut interest rates. He spoke during a event at the Council on Foreign Relations in New York that investors were watching closely for clues about the direction of monetary policy. His
‘Valentine’s Day’ Episode 16 of the sitcom The Office. Pictured is the cast of the sitcome: (L to R) Angela Kinsey as Angela Martin, Kate Flannery as Meredith Palmer, Steve Carell as Michael Scott, Phyllis Smith as Phyllis Lapin-Vance, and Jenna Fischer as Pam Beesly. Paul Drinkwater | NBCUniversal | Getty Images NBC has decided
Frederick Smith, CEO of FedEx. Adam Jeffery | CNBC FedEx CEO and Chairman Frederick Smith said on Tuesday the company’s lawsuit against the Department of Commerce is “separate and distinct” from recent shipping incidents involving Chinese technology company Huawei. The shipping company sued the Department of Commerce on Monday, saying that regulations requiring companies to
Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) on June 03, 2019 in San Jose, California. Justin Sullivan | Getty Images Apple has purchased autonomous vehicle startup Drive.ai, the company confirmed to CNBC. The deal confirms Apple’s continued interest in self-driving car software, and it will bolster
Homeownership comes with a lot of extra expenses, mostly thanks to the tax man. Due to increasing demand and limited inventory, the nationwide median sale price has reached $226,800, according to Zillow. Values have gone up 5.4% over the past year and are expected to rise another 2.5% in the next year. On top of
izusek | E+ | Getty Images Eat what you kill. It’s not the most subtle description of the career path for financial advisors, but it is accurate. Historically, the financial advice industry has been built around people who can come to the job and quickly build books of business to generate revenue. Young advisors have
A shopper carries an Insignia Roku TV television at a Best Buy Co. store in Louisville, Kentucky, U.S., Luke Sharrett | Bloomberg | Getty Images More than 300 companies are talking to government officials in Washington this month about how detrimental the trade war between the U.S. and China has been and will be to
Chateau d’Estoublon, Provence, France Airbnb The online property rental broker Airbnb has launched a new site dedicated to high-end listings that includes castles, entire villages, and beachfront villas in the U.S. or Caribbean. One listing – an entire medieval village in Buonconvento, Italy that can accommodate 44 guests – costs around $23,140 per night while
President Donald Trump and China’s President Xi Jinping make joint statements at the Great Hall of the People in Beijing, Nov. 9, 2017. Jonathan Ernst | Reuters Stocks are likely to see a temporary relief rally and bonds could sell off if there is a ‘ceasefire’ declared in the trade wars by the U.S. and
Lennar reported a higher-than-expected quarterly profit on Tuesday, as the No. 2 U.S. homebuilder’s sales got a boost from lower interest rates for mortgages, sending its shares up 4% before the opening bell. Several years of rising rates had put a brake on parts of the U.S. housing market in 2018. But a moderation in
Wayfair co-chairman and co-founders Steve Conine (C) and Niraj Shah applaud as they ring the opening bell above the floor of the New York Stock Exchange on the day of the company’s IPO October 2, 2014. Lucas Jackson | Reuters More than 500 Wayfair employees signed on to a petition and are trying to rally
Americans for Tax Reform’s Grover Norquist told CNBC on Monday that Sen. Bernie Sanders’ plan to eliminate outstanding student loan debt in the country ignores the real problem of going to college. The Vermont independent’s legislation seeks to cancel $1.6 trillion in existing loans by taxing stock and bond transactions. Norquist took a jab at
Harley Finkelstein, COO, Shopify Scott Mlyn | CNBC There’s an up and coming company you may not know much about that’s gearing up to compete with Amazon in a big way… and Wall Street analysts’ believe it has a fighting chance. Last week, Canada-based Shopify unveiled its “shopper fulfillment network” a new service that will
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