WeWork’s parent company just filed for an IPO this week, and it could go public as early as Septmeber. The company joined the flurry of tech IPOs in 2019, but also revealed a massive $900 million loss in the first half of 2019, causing investors to worry about the downside risks. What if the economy
Month: August 2019
U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services’ sex offender registry March 28, 2017 and obtained by Reuters July 10, 2019. New York State Division of Criminal Justice Services | Handout | Reuters An investigation into Jeffrey Epstein’s possible suicide attempt last month —
Nvidia stock rose 7% on Thursday after hours, after the company reported better-than-expected fiscal-second quarter earnings. Here’s what the company reported: Earnings: $1.24 per share, excluding certain items, vs. $1.15 per share as expected by analysts, according to Refinitiv. Revenue: $2.58 billion, vs. $2.54 billion as expected by analysts, according to Refinitiv. Nvidia’s revenue fell
President Donald Trump, right, speaks as Tim Cook, CEO of Apple, listens during the American Technology Council roundtable hosted at the White House in Washington, D.C. Zach Gibson | Bloomberg | Getty Images President Donald Trump tweeted on Friday that he plans to have dinner with Apple CEO Tim Cook. “Having dinner tonight with Tim
For anyone holding a long-term-care insurance policy, new allegations of financial trouble at one insurer may make you wonder what would happen to your policy if your underwriter went belly up. While insurance companies have been bolstering their reserves to cover future claims and raising premiums to counteract inaccurate pricing when the policies were first
President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
The Hennessey Venom F5 concept vehicle is displayed during the 2018 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 26, 2018. David Paul Morris | Bloomberg | Getty Images For classic car fans, there’s only one place to be this week: California’s Monterey Peninsula where more than a dozen different events
Traders work before the closing bell at the New York Stock Exchange on Aug. 14, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines in midday trading on Friday: General Electric — Shares of General Electric rose nearly 9% after analysts and the company’s CEO stood
John Deere combine harvesters sit on display during the Farm Progress Show in Boone, Iowa, U.S., on Tuesday, Aug. 28, 2018. Daniel Acker | Bloomberg | Getty Images Shares of Deere fell on Friday after the equipment company missed earnings expectations for its fiscal third quarter and lowered guidance for the full year, saying farmers
A screen displays the share price for pharmaceutical maker AbbVie on the floor of the New York Stock Exchange. Brendan McDermid | Reuters The U.S. Food and Drug Administration on Friday approved AbbVie‘s new treatment for rheumatoid arthritis, a win for the drugmaker seeking to widen its portfolio as its blockbuster flagship therapy Humira faces
kate_sept2004 | E+ | Getty Images If you are worried about a possible recession on the horizon, there are some financial moves you can make to help protect yourself. Those concerns flared up on Wednesday after a warning signal came from the bond market. At one point during the trading session, the benchmark 10-year Treasury
Levi Strauss & Co. CEO Chip Bergh (L) and CFO Harmit Singh (R) pose ahead of the company’s IPO outside the New York Stock Exchange (NYSE) in New York, U.S., March 21, 2019. Brendan McDermid | Reuters Here are the biggest calls on Wall Street on Thursday: Bank of America upgraded Levi Strauss & Co.
1939 Porsche Type 64 Source: RM Sotheby’s This weekend, a sleek, vintage car that’s being called “the world’s first Porsche” heads to the auction block with an estimated price tag of over $20 million. There is just one problem: Porsche says the 1939 Porsche Type 64 isn’t the first Porsche ever made. In fact, it’s
Jen-Hsun Huang, CEO, Nvidia David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of Nvidia jumped as much as 7% after the chipmaker announced better-than-expected second-quarter earnings. The company reported adjusted earnings per share of $1.24 on revenue of $2.58 billion. Analysts had expected earnings per share
Victor Luis, CEO of Tapestry Adam Jeffery | CNBC Tapestry forecast a surprise fall in first-quarter revenue and profit on Thursday, as the high-end fashion house struggles with sluggish demand for its Kate Spade handbags, sending its shares down 6%. The company has had problems integrating the millennial-focused Kate Spade brand, which it bought in
Jensen Huang, president and CEO of Nvidia, speaks during the company’s event at the 2019 Consumer Electronics Show in Las Vegas on Jan. 6, 2019. David Paul Morris | Bloomberg | Getty Images Nvidia’s CEO, Jensen Huang, has reason to be concerned about other chipmakers, like AMD. But he’s not worried about Nvidia’s own big
Maskot | Maskot | Getty Images It’s only August, yet college students’ best chance at a decent financial aid package is right around the corner. Oct. 1 marks the first day for students and their families to apply for grants and other aid for the 2020-2021 school year through the Free Application for Federal Student
Pedestrians pass in front of the New York Stock Exchange, May 24, 2019. Michael Nagle | Bloomberg | Getty Images Volatility is back on Wall Street. The average daily point range of the Dow Jones Industrial Average so far this month is about 482 points, which is more than double the average daily range from
The Hennessey Venom F5 concept vehicle is displayed during the 2018 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 26, 2018. David Paul Morris | Bloomberg | Getty Images Thousands of classic car fans are rolling onto California’s Monterey Peninsula for what has become one of the year’s most eagerly awaited
Shoppers walking in the Herald Square area of New York. Michael Nagle | Bloomberg | Getty Images By any number of measures, the U.S. economy is outshining the depressed picture the bond market has been painting of U.S. growth, and a big part of it is the resilient American consumer. The latest batch of U.S.
J.C. Penney on Thursday reported mixed second-quarter results that showed its sales are continuing to erode. The department store chain reported a net loss of $48 million, or 15 cents a share, narrower than its loss of $101 million, or 32 cents a share, a year ago. Excluding one-time items, Penney lost 18 cents a
Daniel Acker | Bloomberg | Getty Images Shares of cosmetics company Revlon jumped more than 7% after Bloomberg reported that it was considering its financial options, including a potential sale. Earlier this month, the company received a $200 million four-year senior secured loan to help fund its business. The business has been struggling, and the
Getty Images If you faced a surprise penalty for coming up short on your 2018 taxes, the IRS might be giving you some relief. On Wednesday, the IRS said it would automatically waive the tax underpayment penalty for more than 400,000 taxpayers who have already submitted their 2018 federal income tax return and failed to
Warren Buffett Bloomberg | Getty Warren Buffett’s Berkshire Hathaway has been loading up on shares of Amazon. Berkshire upped its stake in the e-commerce giant by 11%, the Omaha, Nebraska-based holding company revealed in a government filing Wednesday. Berkshire now owns 537,300 shares of Amazon, worth $947 million. The holdings are as of the end
Attendees view cars on display during the 2015 Pebble Beach Concours d’Elegance in Pebble Beach, California, U.S., on Sunday, Aug. 16, 2015. David Paul Morris | Bloomberg | Getty Images It is the Coachella of classic cars, the Woodstock for wealthy wheel-freaks. It’s Monterey Car Week, which includes the Concours D’Elegance car awards show and
Traders work on the floor at the New York Stock Exchange, August 13, 2019. Eduardo Munoz | Reuters The stock market has done something so unusual this week that it has only happened 19 times in the past 30 years, and the strange pattern could be an ominous sign if history is any guide. The
Macy’s second-quarter earnings fell way below analysts’ expectations, as heavy markdowns used during the spring season to clear unsold merchandise weighed on profits. Macy’s also lowered its profit outlook for the full year and now is expecting to earn between $2.85 and $3.05 a share, down from a range of $3.05 to $3.25. Its shares
As protests continue to roil Hong Kong, a widely followed economist has an idea about how to ease tensions: China, he said, needs to take power away from the city’s tycoons and fix its property market. The east Asian financial hub has been rocked by civil unrest in recent months with operations of Hong Kong
wundervisuals | E+ | Getty Images If you’re panicking over Wednesday’s market declines, here’s your silver lining: You might have a great opportunity to save on taxes. The Dow Jones Industrial Average plummeted by more than 600 points on Wednesday morning, amid news that the yield curve has inverted. In particular, yields are now higher
A star fund manager at Franklin Templeton lost $1.8 billion on Monday due to the market slide in Argentina, according to the Financial Times. Michael Hasenstab, a fixed-income fund manager, had several large positions in the Argentina bond market. The financial markets in the country plunged after a surprise result in primary elections. President Mauricio
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