Economic forecaster Lakshman Achuthan has a warning for investors: Brace for earnings to go negative. According to the Economic Cycle Research Institute co-founder, the global slowdown is unleashing major challenges for U.S. corporations. Achuthan turns to a chart of S&P 500 earnings growth to build his case. “Every time you have a cyclical slowdown in
Month: July 2019
Amgen: “I am not going to recommend this stock here.” Sarepta Therapeutics: “I think they’re brilliant. I think they’ve got the right combination. I think that a lot of people doubted them. I think those people are wrong.” Wingstop: “Wingstop is one terrific stock.” Regenxbio: “I will have to do some homework on that.” Visa:
andresr | E+ | Getty Images If you’ve been eyeing a designer handbag or expensive mattress, you may be able to buy it guilt-free. Experts agree there are times when it pays to spend more money on certain items, instead of going for the cheapest option. Sam Dogen, founder of the personal finance website FinancialSamurai.com,
Maskot | Maskot | Getty Images It’s an email every financial advisor should expect to receive at least once. Financial advisor Charles Failla recalls receiving an email from a client asking for about $5,000. She was vacationing in the Caribbean and claimed the hotel where she was staying didn’t accept credit cards. “She needed cash,”
Customers shop at a Target store in Seattle, Washington. David Ryder | Bloomberg | Getty Images In a world of retail “winners and losers” Goldman Sachs is betting on big-box retailers it feels will shoot up over the next year. The firm recommends Target, Costco, Home Depot and Walmart among others because of their strong
krisanapong detraphiphat | Moment | Getty Images Once derided on the cover of Time magazine as the “Me Me Me Generation,” millennials have, in fact, become the “Owe Owe Owe Generation.” This group originally showed a healthy aversion to credit card debt. From 2008 to 2012, only 41% of those in their 20s had a
Jerome Powell, nominee to be chairman of the Federal Reserve Board of Governors, testifies during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, DC, November 28, 2017. Saul Loeb | AFP | Getty Images Federal Reserve officials saw last month the case for easier monetary policy
SOPA Images | LightRocket | Getty Images Delta Air Lines shares rose Thursday after the Atlanta-based carrier raised its profit forecast for the year amid strong travel demand. The Atlanta-based carrier expects to earn $6.75 to $7.25 per share this year, up from a previous estimate of $6 to $7 a share. Shares rose up more than
Evan Spiegel, CEO and co-founder of Snap Inc. Adam Galica | CNBC Shares of Snapchat parent company Snap rose on Thursday after Bank of America said a recent spike in app downloads will drive better revenue results for the company’s upcoming second-quarter earnings. “In May, Snap’s ‘gender-face-swap’ filter went viral and SnapKit app ‘Yolo’ reached
An American flag battered by Hurricane Michael continues to fly in the in the rose colored light of sunset at Shell Point Beach on October 10, 2018 in Crawfordville, Florida.The hurricane hit the Florida Panhandle as a category 4 storm. Mark Wallheiser | Getty Images Natural disasters lead to billions of dollars in property losses.
A top strategist at JPMorgan Asset Management said on CNBC Wednesday that the Federal Reserve is “fundamentally making a mistake” with its anticipated rate cut at the end of the month. David Kelly, the chief global strategist at JPMorgan Asset Management, said on CNBC’s “Power Lunch” that he doesn’t think rate cuts will boost the
The wealth tax proposed by Sen. Elizabeth Warren has sparked a fierce — and increasingly personal — debate between the party’s traditional academic elite and the darlings of the new left. Lawrence Summers, the former Treasury Secretary and longtime economic guru of the Democratic party, published an op-ed in the Washington Post in April saying
Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019. Andrew Harrer | Bloomberg | Getty Images The S&P 500 tops 3,000. What a difference five years makes. The S&P has moved 50% in less than 5 years, from 2,000 on August 26, 2014, to
Amarin Corp.: “You know, it’s pretty good. … I say, you know what, speculative but” buy, buy, buy. MPLX: “These pipeline compnies have been so painful, but they’re actually moving up. … I am literally going to stick my neck out … and say it’s O.K. to own.” Zynerba Pharmaceuticals: “Very interesting, but you know
Joe Raedle | Getty Images If you’re trying to save money, paying a fee on your credit card might seem counterintuitive. However, it may be worth it under the right circumstances. So, how do you figure out if it is the right thing for you? “It really comes down to whether you are matching the
Chris Rank | Bloomberg | Getty Images The market “threw us a bit of a curve ball” Tuesday as investors avoided reliable defensive stocks even after Wall Street received critical evidence that the global economy is stumbling, CNBC’s Jim Cramer said. BASF, the gigantic German chemical manufacturer connected to the semiconductor, autos, pesticides and consumer
Kelli Keough, left, global head of digital wealth management and Jed Laskowitz, a J.P. Morgan veteran who runs You Invest. Source: JP Morgan J.P. Morgan Chase is making another bid to persuade banking customers to invest with the firm – this time, with a low-cost robo-adviser. After a year of fine-tuning, which included user trials
Levi Strauss reported a 17% drop in quarterly adjusted profit on Tuesday, hit by a stronger dollar, higher marketing costs, and investments in its online business, sending its shares down 6% in extended trading. The company has been spending heavily on marketing and advertising by roping in celebrities and social media influencers, including Justin Timberlake,
Andrew Matthews | PA Images | Getty Images The U.K.’s National Health Service (NHS) is working with tech giant Amazon to provide people with “reliable health information” via voice assisted technology. Authorities said Wednesday that the technology would enable patients to “get professional, NHS-verified health information in seconds” using simple voice commands. An algorithm will
Planning to reinvest those pesky required withdrawals from your individual retirement account or 401(k) plan because you don’t need the money? Under the Secure Act, a bill pending in Congress right now that aims to improve the nation’s retirement savings, you’d have to start taking withdrawals from your IRA (and most other retirement accounts) at
If you’ve been wanting to own shares in the latest generation of space companies, now is your first chance. Social Capital Hedosophia, the investment vehicle of venture capitalist Chamath Palihapitiya, is merging with Richard Branson’s Virgin Galactic in a deal that will open the space tourism company to public investors later this year. Social Capital
Pedestrians walk past an entrance to the Wall Street subway station near the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Levi Strauss fell 6% following the release of the denim maker’s second quarter earnings. Levi reporter earnings per share of
American Airlines Group Inc. Boeing Co. 737 Max planes sit parked outside of a maintenance hangar at Tulsa International Airport (TUL) in Tulsa, Oklahoma, May 14, 2019. Patrick T. Fallon | Bloomberg | Getty Images U.S. airlines will detail for investors this month how the worldwide grounding of the Boeing 737 Max — now about
Amazon has a track record of disrupting other industries, but CNBC’s Jim Cramer thinks the e-commerce giant shuold be more worried about a top dog in the world of beauty. That company is Ulta Beauty, the cosmetics and skincare store chain that has a $20.5 billion market capitalization. “I think Amazon should be more concerned than
Tetra Images | Getty Images It’s no secret that Social Security needs to be tweaked in order to fix the program’s solvency. And research from the latest Aegon Retirement Readiness Survey shows just how far Americans think politicians need to go to shore up the system. Just 8% of Americans surveyed said they think the
Big players on the Wall Street have termed Deutsche Bank’s major restructuring drive as “very deep,” “radical” as well as “challenging.” Deutsche Bank announced Sunday that it will pull out of its global equities sales and trading operations, scale back its investment banking and slash thousands of jobs as part of a sweeping restructuring plan
Greater consolidation is needed across the continental European banking sector if it is to thrive again after the financial crisis, according to Standard Chartered chairman Jose Vinals. Speaking to CNBC’s Hadley Gamble at the Europlace Financial Forum in Paris, Vinals suggested that in light of “tremendous restructuring” in many international and domestic European banks since
Getty Images PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. Shares of the company rose less than 1% in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.54, adjusted, vs. $1.50 expected Revenue: $16.449
President Donald Trump and Foxconn Chairman Terry Gou (R) tour a Foxconn facility at the Wisconsin Valley Science and Technology Park on June 28, 2018, in Mount Pleasant, Wisconsin. Brendan Smailowski | AFP | Getty Images The giant Foxconn manufacturing complex planned in Wisconsin is likely to continue falling short of the threshold required to
Walter B. McKenzie | Getty Images Where you live can have a big impact on whether you’re able to amass a security nest egg. Experts generally recommend you have at least six months’ cash on hand in case you lose your job or have a medical or other emergency. However, data from personal finance website
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