Salesforce stock rose 2 percent shortly after the company reported better-than-expected earnings for the fourth quarter of its 2018 fiscal year, which ended on Jan. 31, after the bell on Wednesday. Here’s how the company did: Earnings: Excluding certain items, 35 cents in earnings per share vs. 33 cents as expected by analysts, according to
Getty Images A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California. Shares of Hertz Global sank further after the opening bell on Wednesday, with the car rental company’s post-earnings call failing to settle investors’ nerves after it reported a bigger-than-expected
However, for many people with hefty state and local tax bills, the new federal tax law gives municipal bonds some appeal. The new law caps the state and local tax deduction that can be claimed on federal returns at $10,000. For many households, that cap will outweigh any potential benefits from other changes in the
Sherwin-Williams is deepening a decades-old relationship with Lowe’s, making it the only nationwide home center to offer Sherwin’s popular brands including Minwax, Cabot and Thompson’s Water Seal. Sherwin-Williams will continue to operate its own stores. On the day the deal was announced, Lowe’s also reported quarterly earnings that fell short as profit margins were squeezed.
Hong Kong unveiled short-term relief measures and capital spending initiatives to sustain growth in an expansionary budget on Wednesday that carried hefty strategic spending to try to bolster the city’s innovation industries. Financial Secretary Paul Chan, addressing the city’s lawmakers in his annual budget speech, also pledged to address livelihood challenges including a widening wealth
Canceling a discount partnership with the National Rifle Association was a “stupid move” on the part of Delta Air Lines, said Georgia state Sen. Michael Williams. But that’s not the reason the Republican legislator is in favor of blocking a jet fuel sales tax exemption, he said. “We do not support crony capitalism and giving
It looks like the Tooth Fairy was strapped for cash in 2017. The average payout for a child’s tooth dropped from $4.66 to $4.13, a decrease of 11%, according to an annual survey by Delta Dental, which asked 1,007 parents of 6- to 12-year-olds about Tooth Fairy spending habits. The poll was conducted in mid-December.
Joshua Roberts | Getty Images Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, November 28, 2017. Federal Reserve Chairman Jerome Powell said exchange-traded funds were not the main reason behind the market decline earlier this year. “We looked
How do you stack up against the wealthiest Americans? To be a 1 percenter, you need to have an adjusted gross income of at least $480,930, according to the latest data from the IRS, which looked at income statistics for tax year 2015. The top 1 percent accounted for 1.4 million individual income tax returns
As Federal Reserve chairman, Jerome Powell oversees monetary policy and regulates banks. But members of Congress questioned him as if he were an omnipotent politician capable of addressing all sorts of issues that fell beyond the normal duties of central banking. The hot seat questioning reached its apex during grilling from Rep. Stephen Lynch, a
Policymakers need to be on guard for imbalances in the financial system, but there appears little danger of that being the case now, Federal Reserve Chairman Jerome Powell said Tuesday. Still, the central bank chief indicated that the Fed plans on hiking rates three times this year and may be inclined to a fourth, particularly
A period of very calm and quiet trading has lulled investors into a sense of complacency that, by some measures, has not been seen in years, according to some financial advisors. The recent sharp movements in markets have been a wake-up call for complacent investors, experts say. From February 2016-January 2018, volatility in the stock
PeopleImages | Getty Images Whether a variable annuity is a good option depends on all sorts of related financial considerations, including other sources of income in retirement and your individual situation and goals. It isn’t every day that an older client might consult experts to help him become impoverished as he prepares for long-term care.
Macy’s turnaround plans are taking hold, marking a positive sign for the overall retail industry, and the company expects the momentum to continue into 2018. In an interview Tuesday with CNBC, CEO Jeff Gennette said same-store sales were up 3 percent in January, as the company had fresher merchandise in stores and less carryover from
SeaWorld Entertainment posted a fourth-quarter loss of $20.4 million and says CEO Joel Manby is stepping down. John Reilly, the chief parks operations officer, will take over on an interim basis. On a per-share basis, the Orlando, Florida, company had a loss of 24 cents, which is worse than the per-share loss of 18 cents
BBC News via AP This framegrab made available by the BBC on Monday May 2, 2016 shows creator of the Bitcoin, Craig Wright speaking in London. In 2011, the pair founded a Florida-based firm called W&K Info Defense Research LLC, which was engaged in bitcoin mining and software development and research. Kleiman owned between 50
U.S. luxury homebuilder Toll Brothers reported a first-quarter profit on Tuesday that beat analysts’ estimates as it sold more homes at higher prices, sending its shares up 2 percent in premarket trading. Toll’s results underscore strong demand in the housing market despite climbing interest rates and supply constraints including higher labor and raw material costs.
Cybersecurity company Palo Alto Networks’ quarterly revenue and profit topped Wall Street estimates and the company gave an upbeat third-quarter forecast, helped by better-than-expected growth in its product business. The company’s shares rose 5.1 percent to $178 after the bell on Monday. Revenue in the company’s product business, which includes firewall protection software Panorama, rose
Standard Chartered Bank said Tuesday its 2017 underlying pre-tax profit jumped to $3.01 billion — handily beating estimates thanks to rising interest rates and efforts to streamline operations. The latest full-year underlying profit by the bank was 175 percent higher than the $1.093 billion posted one year ago in 2016, and better than the $2.978
Shares of Fitbit plunged as much as 12 percent in pre-market trading Tuesday — a day after a disappointing quarterly report. Shares shed as much as 15 percent in extended trading Monday. The wearable technology company lost 2 cents per share on revenue of $571 million in the fourth quarter. Analysts polled by Thomson Reuters
The airline added that “it continues to support the Second Amendment.” On social media, some customers thanked the airlines for taking a stance against the NRA while others said they would take their business to other airlines. Delta is the second-largest airline behind American Airlines, which does not have such a discount agreement with the
Shares of gun makers follow a similar pattern. They drop in the immediate aftermath of a shooting and are mostly trading higher three months later. But data by a hedge fund analytics tool called Kensho shows the stocks of these companies are reacting differently this time. Rifle maker Sturm Ruger & Co.’s shares are down
Some projects are happening closer to the U.S. Y Combinator Research, based in Oakland, California, started a test of a basic income last year, and is raising funds to expand the research project. This year in Stockton, California, Mayor Michael Tubbs’s Stockton Economic Empowerment Demonstration will give several dozen low-income families $500 each month in
It’s important to think about how you to deal with the bequest versus letting it just happen, according to Mendels, because moving too quickly can result in poor decisions, such as spending it all or taking advice that may be regretted later. It can be hard to say no, he warned, so plan on how
Federated Investors’ Steve Chiavarone is not a bull who’s second guessing himself. The February correction may have rattled Wall Street, but the portfolio manager maintains the S&P 500 will muster enough momentum to climb 12 percent to 3,100 — 12 percent above Monday’s premarket level. His reason? The story of the year will ultimately be
Amid the latest stock market volatility, a renewed interest in diversification and rising inflation are putting more focus on commodities. After being regarded as moribund in recent years, the category, led by precious metals, delivered positive returns in 2017 for the second straight year in a row, as measured by the broad Bloomberg Commodity Index.
Lawrence Wright was reluctant to adapt “The Looming Tower,” his Pulitzer Prize-winning history of Al Qaeda and the run-up to 9/11. But it wasn’t lost on him that the number of deals for scripted series was rapidly increasing each year — a development that went along with the sudden rise of the streaming industry. “It
The stock market rout earlier this month triggered by rising interest rates had market watchers warning that volatility was back and here to stay. The Cboe Volatility Index (VIX), which measures market expectations of volatility and is often referred to as Wall Street’s fear gauge, spiked to a multi-year high during the recent market sell-off.
In the Global Impact Investing Network’s survey, investment professionals — i.e., fund managers, foundations, banks — reported that their social-impact investments have either met or exceeded their expectations for both impact (98 percent) and financial performance (91 percent). At Calvert Investments in Bethesda, Maryland, where impact investors hold $11.6 billion across 27 funds, the increased
Warren Buffett believes investors do not need to be brilliant to do well in the financial markets. The Oracle of Omaha made a winning 10-year bet with Protégé Partners in Dec. 2007 that the S&P 500 would outperform a basket of fund of hedge funds. But perhaps more interesting than how a simple index fund