Pedestrians walk by the American International Group building. Ramin Talaie | Bloomberg | Getty Images Insurer American International Group beat Wall Street estimates for quarterly profit on Wednesday, boosted investment income, sending its shares up 2.7% in extended trading. A strong performance in commercial and personal insurance in regions outside of North America helped the
Month: August 2019
A vendor packages seafood for a customer at a stall in Qingdao in China’s eastern Shandong province on October 16, 2018. AFP | Getty Images China’s July food prices jumped 9.1% from a year ago, data from the National Bureau of Statistics showed on Friday, as the country battles soaring pork prices amid the spread of
Getty Images The wealth gap between baby boomers and millennials has become a gulf. Back in 1998, the average household aged 52 to 70 years had a net worth of $747,600, while households in the 20 to 35 age bracket had an average net worth of $103,400, according to a MagnifyMoney analysis of Federal Reserve
Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016. David A. Grogan | CNBC Longtime activist investor Carl Icahn is doubtful rate cuts can simply solve the problems facing the economy including the U.S.-China trade war. “I don’t think just lowering rates is the answer… if it were that easy, you’d
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Aug. 21, 2017. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines midday Thursday: AMD — Advanced Micro Devices soared more than 15% on Thursday after the semiconductor company released a new generation
A person exits the Viacom offices in New York. Lucas Jackson | Reuters Viacom, the owner of MTV, Comedy Central, and Nickelodeon, beat estimates for quarterly revenue on Thursday, helped by a rare growth in domestic advertising revenue. Net income attributable to Viacom rose to $544 million, or $1.35 per share, in the third quarter
Lisa Su, president and chief executive officer of Advanced Micro Devices (AMD), holds a 3rd generation Ryzen desktop processor while speaking during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Jan. 9, 2019. David Paul Morris | Bloomberg | Getty Images Advanced Micro Devices jumped 14% on Thursday after the
It’s not necessarily easy to move up in the workplace. At the same time, wading through all the advice on how to do it can be just as daunting. However, according to former Yum Brands CEO David Novak, there are four key things you need to do to be successful. And the more success you
The Federal Reserve’s “midcycle adjustment” to interest rates could be morphing into something considerably more serious, judging by recent market action. After the rate cut approved last week, Fed Chairman Jerome Powell quickly doused market expectations that the move was a sign of an extended period of monetary easing. Powell mostly expressed optimism in the
In this photo illustration a Robinhood Markets logo seen displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket via Getty Images Robinhood is set to bring its popular zero-fee stock trading app to Britain. The company announced Thursday that its international subsidiary had been granted broker authorization from the Financial Conduct Authority, the
Disney is set to release its own streaming service, Disney+, on November 12, and on the same day it will also offer a deal bundling Disney+, ESPN+, and Hulu, the company announced on Tuesday. The price for that three-piece bundle? $12.99 per month — the same price as a Netflix standard plan. According to Disney
John Boyd, a fourth generation crop farmer and president of the Black Farmer’s Association, checks the condition of a soybean field for harvesting in Baskerville, Virginia on Tuesday Jan. 8, 2019. Melina Mara | The Washington Post | Getty Images U.S. soybean growers are targeting new markets as demand from China has plunged dramatically due
Portrait of small business owner MoMo Productions | Taxi | Getty Images The tax overhaul unveiled a new 20% tax deduction for small business owners in 2018 — and just over 1 in 10 filers so far have claimed it. The qualified business income deduction is one of the new features of the Tax Cuts
President Donald Trump‘s trade war comes with an aggressive and clear-cut strategy but a fuzzy endgame, namely that it’s unclear just what victory would look like. True, there are lofty ambitions: a world without tariffs, a “level playing field” with China where goods would flow freely between the two nations, and the promise of untethered
Bank stocks are getting slammed this week as the trade war heats up, but according to some analysts, that selling is misplaced. Wall Street took collapsing bond yields Wednesday to mean trouble for the economy, and investors fled positions in the largest U.S. financial institutions. Shares of J.P. Morgan Chase and Bank of America led
A pedestrian walks through the parking lot of a CVS Health Corp. store in Oakland, California, Aug. 2, 2019. Michael Short | Bloomberg | Getty Images CVS Health on Wednesday smashed Wall Street’s second-quarter earnings and revenue expectations and raised its full-year forecast. Here’s what the company reported compared with Wall Street estimates, based on
Lew Cirne, CEO, New Relic Scott Mlyn | CNBC It’s not uncommon for public companies to report disappointing numbers. But you don’t often see a CEO blaming the shortfall on poor execution. On Tuesday, New Relic CEO Lew Cirne addressed the company’s discouraging quarter in his opening remarks on the earnings call, after the software
If the market’s wild ride has you confused about your next investment move, you aren’t alone. You may be wondering, “Do I really do nothing with my stocks or 401(k), like many advisors suggest? ” or “when is the right time to buy or sell?” No one likes to lose money, but panicking isn’t the
Traders work on the floor of the New York Stock Exchange Bryan R. Smith | AFP | Getty Images Wall Street’s summer swoon likely isn’t over yet. Several chart analysts are pointing out that while the market has dropped sharply over the the past few days, it still has a long way to go before
Borut Trdina | Getty Images Wealthy investors are trimming their stock positions, amid anxiety around a trade war and instability in Washington. Members of TIGER 21, an investment club for high-net-worth individuals, reduced their stock allocation to 21% from 22% during the second quarter, according to the group’s quarterly report. TIGER 21, a group of
CEO of the Walt Disney Company, Bob Iger. Michael Kovac | Getty Images Check out the companies making headlines after the bell: Shares of Walt Disney fell more than 4% in after-hours trading after the entertainment giant’s third-quarter earnings missed Wall Street’s estimates. Disney reported adjusted earnings of $1.35 per share on revenue of $20.25
CNBC’s Jim Cramer said Tuesday that the U.S.-China trade war will not lead the American economy into a significant decline in economic activity. The “Mad Money” host, who has generally been in favor of a tough trade policy with the economic powerhouse, says he is “more sanguine” about the ongoing tensions in efforts to force
Feeling nervous about Monday’s stock market drop and considering a move to cash until you think the worst is past? Think twice. While it’s impossible to predict what stocks will do next, various research shows that missing out on the best-performing days in the market — regardless of when the bad days are — can
CNBC’s Jim Cramer said he was “aghast” at the huge swing between the sharp decline in stock futures Monday evening and the strong Wall Street open Tuesday. The “Mad Money ” host blasted “pajama traders,” the term he coined for those who buy and sell futures contracts, often based on computer algorithms, during market off-hours.
Traders and financial professionals on the floor of the New York Stock Exchange on December 27, 2018. Drew Angerer | Getty Images For all the excitement in the past 12 months, the stock market is exactly where it was one year ago. The S&P 500 just traded at 2,851.67. One year ago today, the index
The Novartis headquarters in Basel, Switzerland. Arnd Wiegmann | Reuters The Food and Drug Administration said Tuesday Novartis‘ application for its $2.1 million gene therapy for spinal muscular atrophy contained errors it knew about before approval. In May, the FDA approved Novartis’ gene therapy, making it the world’s most expensive drug. The therapy, Zolgensma, is
There’s one market correlation you can count on: When the markets plummet, calls to 401(k) plan providers go up. If you’re like a lot of people, you’re also reaching for the phone — or just looking for reassurance that your nest egg will still be OK. Moyo Studio | E+ | Getty Images Monday’s eye-popping
Kyle Bass Mark Neuling | CNBC Hedge fund manager and Hayman Capital Management founder Kyle Bass said on Monday that without state support, China’s currency would plunge. “What’s happening in China is they have to have dollars to sell to buy their own currency to hold it up. If they were to ever free float
The Trump administration took the trade war up another notch, calling China a currency manipulator and ratcheting up expectations that the White House has other moves it could make to retaliate against China. Last used in the 1990s, the designation was announced by the U.S. Treasury Monday after U.S. markets closed out a turbulent session.
Qualcomm Inc. CEO Steve Mollenkopf speaks during a keynote address at CES 2017 on January 6, 2017 in Las Vegas, Nevada. Ethan Miller | Getty Images Qualcomm disappointed Wall Street with its latest financial report. According to the company, a large part of the blame falls on Chinese tech giant Huawei. The U.S. chipmaker reported