A Dish Network field service specialist installs a satellite television system at a residence in Denver. Matthew Staver | Bloomberg | Getty Images Winning is good. Unless your prize is becoming a wireless company. Such is the case for Dish Network, which is expected to shell out $1.4 billion for T-Mobile’s prepaid mobile business and
Month: July 2019
Oppenheimer Asset Management’s John Stoltzfus suggests investors may want to fasten their seat belts. The long-time bull expects a wave of near-term volatility to pressure stocks. He’s blaming uncertainty surrounding this week’s Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks. “Any
Shares of Google parent company Alphabet rose more than 9% after the company reported second-quarter earnings that beat estimates Thursday. Alphabet said its board of directors approved a repurchase of up to an additional $25 billion of its Class C capital stock. On a call with analysts, CFO Ruth Porat said the capital would be
A man walks past Pfizer’s world headquarters in New York. Andrew Kelly | Reuters Pfizer, the world’s largest drugmaker, plans to divest its off-patent drug business and combine it with generic-drug maker Mylan, according to a person familiar with the matter. The deal, expected to be announced Monday, will result in Pfizer shareholders owning most
LawrenceSawyer/Getty Images Samantha Jokela, a 21-year-old college student from Upton, Massachusetts, will be graduating from college a year earlier than expected, thanks to dual enrollment. Dual enrollment is a state-run program that allows students to take college-level classes, often through a local community college, while they are still in high school. As many as 3
David Einhorn speaking at the 24th Annual Sohn Investment Conference in New York, on May 6, 2019. Adam Jeffery | CNBC David Einhorn revealed new positions Thursday in three stocks: Chemours, Dillard’s and Scientific Games. Einhorn told Greenlight Capital clients the positions were added in the second quarter. He described the Chemours stake as “medium
A trader on the New York Stock Exchange. Brendan McDermid | Reuters Critics of passive investing argue it is inflating the prices of high-flying stocks such as Amazon and creating a bubble in those names. However, data compiled by Ned Davis Research shows the bubble may be forming elsewhere. The firm found that real estate
Amazon reported mixed results in its second-quarter earnings release on Thursday, failing to meet profit expectations while exceeding revenue forecasts. The results show Amazon’s renewed investments into the company are paying off, driving sales growth at the expense of lower profit margins. Amazon’s shares, however, dropped over 2% in after-hours trading, as the company gave
A new walkway runs between Buildings 40 and 41 at Microsoft’s campus in Redmond, Washington. Microsoft For Microsoft to maintain its trillion-dollar valuation, keeping employees happy is crucial. That’s especially true around Seattle, home to Amazon, big Google and Apple operations and a burgeoning start-up scene. With talent in such high demand, Microsoft is in
Hero Images | Hero Images | Getty Images If you’re in your 20s or 30s without children, the need to purchase life insurance can seem unnecessary. Putting it off, however, may cost you. “The better health you’re in and the younger you are, the cheaper your insurance premium typically will be,” said certified financial planner
The Pets.com sock puppet dog stars in a commercial for the company, Jan. 11, 2000, in Los Angeles. Bob Riha | Liaison | Getty Images Greenlight Capital’s David Einhorn, who successfully made bets against companies including Enron, is likening hot IPO Chewy to dot-com bubble poster child Pets.com. In his quarterly letter to clients, Einhorn
Traders work the floor at the NYSE. Brendan McDermid | Reuters The Fed is expected to cut interest rates for the first time in more than a decade Wednesday, a pre-emptive move as concerns rise about the impact of the trade wars and a slowing global economy. Friday’s July jobs report should show that the
Intel shares rose more than 7% in extended trading on Thursday after the chipmaker reported better-than-expected earnings and revenue and gave an upbeat forecast. Here are the key numbers for the second quarter: Earnings: $1.06 per share, excluding certain items, vs. 89 cents per share as expected by analysts, according to Refinitiv Revenue: $16.51 billion,
2020 Corvette Stingray Convertible Source: Corvette Little more than a week after the splashy introduction of the eighth-generation Chevrolet Corvette Stingray, General Motors has put out a “teaser” video that shows what it has in store next for the two-seater often called “America’s sports car.” Over the next several years, GM officials told CNBC at
Photo: Wikicommons When Democratic presidential candidate Elizabeth Warren earlier this week unveiled the details of her bill to cancel student debt, she stressed how it would deliver significant financial relief to borrowers of color. “The day our bill gets signed into law, that black-white wealth gap would shrink by 25 points,” the Massachusetts senator said.
Justin Sun Yuchen, founder of Tron and CEO of BitTorrent, speaks during Ifeng Finance Summit at China World Summit Wing on November 4, 2015 in Beijing, China. (Photo by Jiang Xin/VCG via Getty Images) Jiang Xin | VCG | Getty Images Who would’ve thought Warren Buffett‘s charity lunch this year would involve kidney stones, a
A dog sits in front of the New York Stock Exchange (NYSE) during Chewy Inc.’s initial public offering (IPO) in New York, U.S., on Friday, June 14, 2019. Michael Nagle | Bloomberg | Getty Images In his most recent letter to investors, David Einhorn of Greenlight Capital wrote that today’s market bears resemblance to the
Sarah Whitten | CNBC Shares of Mattel jumped as much as 7% in extended trading Thursday after the company posted a narrower-than-expected loss in the second quarter and reported strong sales of its Barbie dolls and Hot Wheels cars. “This quarter further demonstrates the continued momentum of our multi-year turnaround strategy,” Ynon Kreiz, chairman and
A still from Disney’s “The Lion King” featuring Nala (Beyonce Knowles) and Simba (Donald Glover). Disney While the critic’s consensus of “The Lion King” wasn’t exactly glowing, it’s clear that Disney has managed to find an innovative, and lucrative, way of retelling its 1994 animated classic. The visually lush film earned $543.6 million in its
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC If you’ve been trading or mining cryptocurrency, the Internal Revenue Service is about to come knocking. The IRS on Friday announced that it’s sending letters to more than 10,000 taxpayers with virtual currency transactions who have potentially failed to report income and pay
On Wednesday, a big trader, perhaps the infamous trader know as “Fifty Cent” (named for his/her propensity to buy VIX call options worth 50 cents), bought some 261,000 VIX calls at the August 21st expiry 20 strike calls. (The CBOE Volatility Index is called the stock market’s fear gauge, tracking the price of options on
Five billion dollars. That’s how much Facebook will have to fork over to the government under a settlement with the Federal Trade Commission. It’s the biggest fine for violating user privacy by a wide margin – 200 times bigger than the previous record, according to the FTC chair. But some are already saying the settlement
Eric Trump, third from left, and Donald Trump Jr., second from right, talk with guests at the opening of the Trump Golf Links clubhouse, Monday, June 11, 2018, in the Bronx, New York. Mark Lennihan | AP Trump Ferry Point, the Bronx golf course operated by President Donald Trump’s company, lost more than $122,000 in
Twitter posted earnings that beat analyst estimates on the top and bottom lines Friday, helping to boost share prices by about 9%. The rally added more than $2 billion to Twitter’s market cap, bringing it around $32 billion. Here are the key numbers Twitter reported for its second quarter of 2019: Earnings per share: 20
A mobile phone open to the web site of credit bureau Equifax, with text on the website reading ‘Equifax Cybersecurity Incident’, providing steps for consumers to take following a security breach in 2017 that affected 143 million Americans. Smith Collection/Gado | Archive Photos | Getty Images I may have banked $125 Friday by taking less
Some pre-retirees know the conundrum well: Full-time work soon will be behind them and they’ll need income, yet they want to delay tapping Social Security for as long as possible to maximize those benefits. For people who have other assets available, some advisors recommend that rather than gradually withdrawing from those funds — such as
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Friday: KBW upgraded Citi, Goldman Sachs, and Bank of America to ‘outperform’ from ‘market perform’ KBW said the three banks are best positioned to benefit from an “extended” economic cycle. “We are upgrading shares of Citigroup,
Ariel Skelley | Getty Images Want to retire in the city with the most sunny days per year? Or one with no state or local sales tax? A new list by SeniorAdvice.com — a housing referral service — ranks the best locations to spend your golden years. The site focused on mid-sized cities, since “most
McDonald’s worker prepares french fries to go. Getty Images McDonald’s will be reporting earnings before the bell Friday. The company’s stock, which has a market value of more than $165 billion, is up 20% so far this year. Here’s what Wall Street is expecting, according to analysts surveyed by Refinitiv: Earnings per share: $2.05 expected
As Starbucks ramps up its U.S. delivery program, the global coffee chain is looking to China, its second-largest market, as an example of how delivery could eventually contribute to its sales. Shares popped 6% in morning trading Friday, hitting an all-time high of $97.22 per share. The Seattle-based company crushed earnings estimates and raised its
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