Check out the companies making headlines after the bell Wednesday: Facebook stock fell more than 2 percent after the bell. The social media giant reported fourth quarter earnings and revenue that crushed Wall Street expectations. The company also reported making more money per user than anticipated, as well as a 14 percent increase in usership
Month: January 2018
In Janet Yellen‘s final meeting as Fed chair, the central bank decided Wednesday against increasing its benchmark interest rate but indicated it expects inflation pressures to heat up as the year moves on. The policymaking Federal Open Market Committee said current conditions indicate that the overnight funds rate should remain anchored at 1.25 to 1.5
Topics to touch on include fitting the estate plan within the context of the investor’s overall financial plan. “With $22 million in exemptions, it’s not so much of a tax issue as it used to be,” said Brent Brodeski, a panelist and CEO of Savant Capital. “It’s really helping to coach people through important decisions:
Chinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues. Leshi had reported a profit of 554.8 million yuan in 2016. It was once the main listed unit of LeEco
DoubleLine CEO Jeffrey Gundlach said Tuesday he expects commodities to run higher versus stocks. “While stocks have been doing great, commodities have been doing well, too,” Gundlach said on a webcast. There’s “quite a lot of high octane [gas] in the commodities vs. stocks tank.” Gundlach said in mid-December on CNBC’s “Halftime Report” that his
President Donald Trump is widely expected to hit on the economy, immigration and infrastructure in his first State of the Union speech on Tuesday. One issue that seems to be on the back burner is the ever-increasing cost of college. A college degree is now the second-largest expense an individual is likely to make in
Harley-Davidson said on Tuesday it will close a plant in Kansas City, Missouri as it consolidates manufacturing operations after its motorcycle shipments fell to their lowest level in six years, sending its shares down more than 8 percent. The Milwaukee-based company forecast a drop in shipments to dealers this year as it expects retail sales
Apple shares dropped on Monday after a report that the company ordered a drastic cut in iPhone X production. Nikkei reported Monday that the tech giant told its suppliers to reduce iPhone X production to 20 million units for the first quarter from the more than 40 million units target Apple gave in November. The
In the November crackdown, the Saudi government arrested and detained several hundred businessmen, senior officials and Saudi royals like Alwaleed, many within the Ritz-Carlton hotel. Multiple reports, citing anonymous sources, have suggested that detainees handed over assets in order to buy their freedom. Alwaleed, the billionaire owner of international investment company Kingdom Holding, told Reuters
The more than $500 million cryptocurrency heist at a major Japanese exchange last week is unlikely to be the last such hack, according to a Wall Street analyst. “I think [the attack] does highlight the fact that the industry still has a long way to go in terms of basic issues of security,” Nicholas Colas,
Market participants said the new BRI bond category seemed like an attempt to show the CSRC’s support for the government initiative, but that the format was unlikely to become mainstream because of restrictions on cross-border capital flows. “We don’t feel BRI bonds will go big as offshore use of the proceeds remains an issue,” said
With the new tax law, there’s one retirement tool that’s never looked better: The Roth IRA. While Roths are not new, they are worth a second look following passage of the Tax Cuts and Jobs Act — especially for those in the gig economy, without an employer-sponsored 401(k) plan. These workers are likely in a
Tokyo-based cryptocurrency exchange Coincheck said on Sunday it would return about 46.3 billion yen ($425 million) of the virtual money it lost to hackers two days ago in one of the biggest-ever thefts of digital money. That amounts to nearly 90 percent of the 58 billion yen worth of NEM coins the company lost in
You may want to rethink that second walk down the aisle if you are approaching retirement, and counting on income from Social Security. If you’re eligible to collect benefits on your ex-spouse’s record, you will no longer be eligible for those benefits if you remarry. That rule, plus others, is one of the reasons financial
Prince Alwaleed showed off the comforts of his gold-accented private office, dining room and kitchen, which was fully stocked with his preferred vegetarian meals. In the corner of his office sat tennis shoes, which he said he used regularly for exercise. A television played business news programs, and a mug with an image of his
A manicurist who worked at Wynn’s flagship casino recounted an incident with Wynn in 2005, telling the newspaper that he forced her to have sex in his office. Colleagues recounted her returning to the on-site salon visibly distressed, the report says, and she told others Wynn pressured her to take her clothes off and lie
Steve Wynn‘s reputation will likely not recover if sexual harassment allegations check out, said veteran Las Vegas reporter Jon Ralston. “There is no bigger name in the casino business than Steve Wynn,” said Ralston, who has been covering business and politics in Nevada for 30 years and has interviewed Wynn himself multiple times over the
Alibaba: The Chinese e-commerce giant will deliver its earnings report on Thursday, and Cramer expects a “total blowout, because they’re the masters of under-promise and over-deliver.” The “Mad Money” host recommended that investors either buy the stock before the quarter drops, or wait for the typical “down leg” in the stock post-earnings. Alphabet: Cramer hoped
“The next focus for markets is whether Trump pivots to a much more protectionist, isolationist policy, or he tries to play a little bit better in the global game,” said Mark McCormick, North America head of foreign exchange strategy at TD Securities. Trump, in the past, has kicked off his own dollar selloff. Just before
Where, oh where, are the cynics who pounce back with clever retorts about how second half earnings need to exceed prior guidance or the party might be over? A good friend who recently retired from managing a large mutual fund told me that he’s glad he no longer has to argue with people about how
In the latest battle over state and local tax deductions, New York’s governor Andrew Cuomo announced that the Empire State, along with New Jersey and Connecticut, plan to sue the federal government. Cuomo announced the formation of a coalition between the three states on Friday, Jan. 26 to challenge the Tax Cuts and Jobs Act,
Urgent action needs to be taken to fix the education crisis afflicting the Arab region, Queen Rania Al Abdullah of Jordan told CNBC on Thursday. The Jordanian royal highlighted how over 15 million children in the region don’t go to school and that providing them with access to quality education could improve their lives. “Our
AbbVie, the maker of the world’s best selling drug, reported fourth-quarter profit on Friday that beat Wall Street estimates on strong sales for its blockbuster drug Humira. Shares of the company rose 3.4 percent to $112 before the bell and were set to open at a record high after the U.S. drugmaker raised its 2018
U.S. industrial conglomerate Honeywell International said on Friday that it expected to bring back at least $7 billion of the $10 billion in cash held overseas in the next two years, taking advantage of the newly enacted tax law. Shares of Honeywell, which makes everything from jet engines to thermostats, rose as much as 1.2
“The big win was to hedge at that point,” he said. He added, “You have to remember the pundits and dynamos of the industry are traders. “A lot gets lost in communication between that and the retail side of the industry.” There is definitely an argument to be made for having a slight overweight to
India desperately needs its lenders to get their bad debts off their books so they can start doling out credit again, after economic growth has slid in recent quarters. State-run lenders account for more than two-thirds of the country’s banking assets. But the government on Wednesday said lenders must implement a series of reforms to
Chris Helgren | Reuters The logo of blockchain company Ripple is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. Ripple, the payments company that’s developing a blockchain-based system for banks, sold $91.6 million worth of digital currency XRP in the fourth quarter, taking advantage of last year’s 29,631
In all, this patient can expect to spend a total of $138,288 in out-of-pocket expenses before he retires if he doesn’t change his ways. On the other hand, if this same individual were to take his medication per his doctor’s suggestions, exercise for 30 minutes a day, and slash his fat, salt and alcohol intake,
The Securities and Exchange Commission has opened up an investigation of General Electric‘s accounting practices in the wake of the conglomerate’s review of its insurance business. GE said January 16 it conducted a review of its GE Capital insurance portfolio and decided to take a $6.2 billion after-tax charge in the fourth quarter of 2017.
The Berkshire Hathaway CEO told the campus audience they could make a lot of money without other people’s money if they were smart. Still, the temptation now to use historically low-interest money from mortgages, personal credit lines and 401(k) plans to invest in the stock market is great, especially as the Dow is reaching historic
