Matthew Busch | Bloomberg | Getty Images Nick Akins, chairman, president and chief executive officer of American Electric Power Co. Nick Akins, the chairman and CEO of the largest power transmission network in the United States, is keeping a close eye on the country’s economic patterns, he told Cramer in an exclusive interview Wednesday. “Oil
Month: October 2018
CNBC’s Jim Cramer was immediately intrigued when shares of Masco, a home supply manufacturer, managed to surge more than 7 percent after the company’s disappointing earnings report on Tuesday. Most news headlines painted Masco’s quarter as weak, pressured by a slowing housing sector, rising raw costs, a hawkish Federal Reserve, higher tariffs and a muted
Minerd has been predicting a recession in 2020 and a “nasty” bear market. He sees a sell-off of 40 to 50 percent from the highs. “Expansions don’t die of old age. They die because the central bank takes them outside behind the woodshed and kills them,” he said on Wednesday. However, he said, because of
Fitbit is known primarily for its fitness tracker bands, but its smartwatch business is growing. In the third quarter, the company said its smartwatch revenue grew to 49% of total revenue, up from less than 10% a year ago. In September, the company launched a new platform called Fitbit Care. The service offers personalized coaching
The recent sell-off period has been a “normal development in markets,” and investors should step in to buy, strategist Scott Clemons told CNBC on Wednesday. The markets have seen a 15th correction since the bull run kicked off in 2009, and this one isn’t even one of the largest, the chief investment strategist for Brown
Having a healthy mix of investments will limit how much your overall portfolio goes down when stocks take a hit. While you may think you’re diversified because you are invested in an S&P 500 fund, that is actually a “heavy bet on technology these days,” Dhillon said. If, in addition, your portfolio has a technology
The sweetener for participating in a high-deductible plan is the ability to save money in a health savings account on a tax-favored basis. In 2019, you can save up to $3,500 in an HSA if you have self-only coverage or up to $7,000 for a family plan. If you’re 55 and up, you can make
Shares of Kellogg are on pace for their worst day in two decades after the company slashed its full-year profit and earnings outlook Wednesday. The company’s stock was down as much as 9.6 percent in morning trading, its biggest daily drop since Oct. 16, 1998, when it plummeted 9.47 percent. The shares rebounded somewhat in
ALOR SETAR (Oct 31): Parti Pribumi Bersatu Malaysia (Bersatu) will not accept the entry of any individual who is seen to be able to raise the ire of the people and affect their support for the party. Its deputy president, Datuk Seri Mukhriz Mahathir said if the Bersatu top leadership takes the individual into the
Yum Brands delivered better-than-expected earnings Wednesday as new menu items, including $1 nacho fries and pickle fried chicken, drew more customers to its Taco Bell and KFC restaurants during the third quarter. The company, which also owns Pizza Hut, said its net income rose 8.6 percent to $454 million, or $1.40 per share, in the
Few families can cover the skyrocketing cost of college outright. Luckily, there are more than 7 million scholarships available to help. But wading through the options can be overwhelming. Enter free search sites, like Tuition Funding Sources, which help students find the most desirable kind of assistance — money that does not have to be
David Paul Morris | Bloomberg | Getty Images Mark Zuckerberg, chief executive officer and founder of Facebook Shares of Facebook popped Wednesday after a mixed third-quarter report and a candid earnings call with traditionally tight-lipped executives. The stock gained as much as 6.9 percent in morning trading, before easing off slightly. The stock gained 3.8
The many big companies disrupted by blockchain have now made it a priority to harness this technology. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there’s a lot at stake. The global market for blockchain-related products
Energy expert John Kilduff sees an unusual phenomenon affecting crude oil and beaten-down stocks. According to the Again Capital founding partner, oil and stocks have embarked on the closest trading relationship since early 2016 and during the financial crisis sell-off. “This has been the highest correlation that I’ve seen in quite some time,” he said
A spokesperson for SoFi disagreed that it misleads borrowers. “We have always been committed to giving our current and prospective members clear and complete information with which to make smart financial choices, and are pleased to have this matter resolved,” the spokesperson wrote in an email. Outstanding student loan debt in the U.S. has tripled
Chinese stocks have gotten taken to the woodshed, falling nearly 30 percent from their 52-week high. According to one chart-minded trader, the worst is yet to come. “We have seen a lot of weakness recently, but the divergence that’s been occurring between the S&P 500 and China is significant,” Todd Gordon of TradingAnalysis.com said Tuesday
General Motors said Wednesday it sold fewer vehicles during the third quarter — but at higher prices — helping the Detroit automaker deliver a better-than-expected earnings report that sent its shares soaring. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share:
Electronic Arts forecast third-quarter revenue below Wall Street estimates on Tuesday, as the video-game publisher’s delayed launch of its popular “Battlefield V” game hurt the company in an already crowded holiday-season game slate. The company’s shares were down 5 percent at $90.25 in after-market trading. EA forecast third-quarter adjusted revenue of $1.73 billion, missing the
KUALA LUMPUR (Oct 31): Public Mutual Bhd, a wholly-owned subsidiary of Public Bank Bhd, has declared distributions amounting to more than RM238 million for 11 of its unit trust funds for the financial year ended Oct 31, 2018 (FY18). In a statement today, Public Mutual said for the Public South-East Asia Select Fund, Public Sector
Like luxury goods makers, cosmetics companies like L’Oreal or Japan’s Shiseido have been hit by fears over a slowdown in China, which sparked a stock market sell-off. Shares in the French beauty group have fallen almost 8 percent since a peak in August. But, following the firm’s earnings statement, shares shot up by nearly 6
Banco Santander reported earnings in line with expectations on Wednesday, supported by a solid performance in Brazil and Spain. The euro zone’s largest bank by market vale posted attributable net profit of 1.99 billion euros ($2.256 billion) for the three-month period ending Sept. 30. Analysts at data firm Refinitiv had been expecting third-quarter net profit
Careem, a regional rival to Uber, has been testing out food delivery services since February. Sheikha said his aim was to place the firm as the go-to internet services platform for people in the Middle East. “(Soon) when you open the app you’ll see the option to get from point A to point B and
One of the Alphabet executives accused of sexual misconduct in a bombshell New York Times’ report resigned on Tuesday. Richard DeVaul, a director at Alphabet’s research lab X, left without an exit package, CNBC confirmed. Axios first reported the news. DeVaul was one of several current and former Google or Alphabet executives whose inappropriate workplace
KUALA LUMPUR (Oct 31): Crude oil prices are forecast to average US$74 a barrel over 2019, only marginally up from a projected average of US$72 a barrel in 2018, while metals prices are expected to remain broadly stable in 2019, according to the World Bank. In its October Commodity Markets Outlook released Oct 29, the
As the leader of a mass manufacturer of key electrical components, Kemet CEO Per-Olof Loof has his finger on the pulse of a host of important industries, he told Cramer in an exclusive interview on Tuesday. “Kemet may not be a household name, but we are pretty much in every household,” he said on “Mad
Check out the companies making headlines after the bell: Facebook shares initially fell, then turned positive and rose 2 percent in the extended session after the social media giant released a mixed third-quarter earnings report. The company reported earnings of $1.76 per share, higher than the Street’s $1.47 per share estimate. Facebook missed expectations on
Facebook shares whipsawed in after-hours trading, following a mixed third-quarter earnings report Tuesday. The results fell short when it came to revenue, daily active user and monthly active user estimates in the company’s latest earnings report, despite exceeding analyst expectations on earnings per share. Facebook also told investors to expect increased expenses in 2019. The
Some investors are of the mind that Facebook‘s severe decline has gotten so bad, it might be good. The social media giant is set to report quarterly earnings on Tuesday after the bell, and Miller Tabak equity strategist Matt Maley said in an interview on CNBC’s “Trading Nation” that he’s gone from negative to more
There’s no silver bullet for generating retirement income; however, financial advisors suggest that dividend-focused investors should consider diversifying their holdings and income streams. “Rather than thinking ‘I can only spend dividends that come to me from high-dividend yielders,’ say ‘I need $100,000 a year, and I don’t care whether it comes from dividends, interest payments
Andrew Harrer | Bloomberg | Getty Images Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., U.S., on Wednesday, Sept. 26, 2018. What kind of man enjoys raising interest rates? Is Federal Reserve Bank Chairman Jerome Powell crazy? Or is
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