Leon Cooperman Scott Mlyn | CNBC During Tuesday night’s Democratic presidential debate, many of the candidates called for ending a favorite tax break of the rich. And now they have some unlikely allies: billionaire, conservative hedge fund managers. In Wednesday’s Financial Times, hedge fund manager and longtime Republican supporter Leon Cooperman said that while he
Month: July 2019
Shares of RPC, a small oil and gas company based in Atlanta, jumped following positive comments from billionaire investor Mario Gabelli. “I’ve been following it for 50 years,” Gabelli told CNBC’s “Halftime Report ” of the stock, which closed Monday at $5.54 a share. “If you look at the wiggles, it’s been $25 three or
When former Vice President Joe Biden recently announced his plans for older Americans, he joined his fellow Democratic presidential candidates in calling for the expansion of Social Security. “We should be increasing, not decreasing, Social Security,” Biden said at a recent AARP Iowa forum. “It’s within our capacity to do so.” Former U.S. Vice President
KUALA LUMPUR (July 29): Sime Darby Bhd’s 36.6%-owned joint venture (JV) company was ordered by China’s Maritime Court at Qingdao, Shandong Province to pay 711 million yuan (RM427 million) outstanding sum due to local contractor CCCC Tianjin Dredging Co Ltd. In a filing with Bursa Malaysia, Sime Darby said the court also ordered the JV
Morgan Stanley signage on the door of their headquarters building in New York. Scott Mlyn | CNBC Morgan Stanley is offering a new tool to help financial advisors and their clients measure sustainable investing choices and how they perform in their portfolios. The analytics and reporting application, called Morgan Stanley Impact Quotient, was announced on
A general view of the Houses of Parliament on March 28, 2019 in London, England. Leon Neal | Getty Images The European Commission will be blocking five countries from accessing parts of the European Union‘s financial markets — in a move that could hit the United Kingdom after it leaves the bloc, according to a
Eric Trump, third from left, and Donald Trump Jr., second from right, talk with guests at the opening of the Trump Golf Links clubhouse, Monday, June 11, 2018, in the Bronx, New York. Mark Lennihan | AP Trump Ferry Point, the Bronx golf course operated by President Donald Trump’s company, lost more than $122,000 in
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Friday: KBW upgraded Citi, Goldman Sachs, and Bank of America to ‘outperform’ from ‘market perform’ KBW said the three banks are best positioned to benefit from an “extended” economic cycle. “We are upgrading shares of Citigroup,
McDonald’s on Friday reported same-store sales growth that topped estimates, as promotions and store upgrades pay off for its U.S. business. Shares of the company hit an all-time high of $218.15 in morning trading before giving up some of those gains. The company’s stock, which has a market value of more than $165 billion, is
(July 26): Asian stocks are set to slip Friday after their U.S. counterparts fell from record highs amid a torrent of corporate results. The euro fluctuated and European bond yields climbed from all-time lows in the wake of the European Central Bank meeting. Futures pointed lower in Japan, Hong Kong and Australia, as the S&P
Allison Shelley | Getty Images News | Getty Images A congressional debate on a bill to reform Social Security has turned to a key question: whether changes made to the system today will upend millennials’ retirement in the future. A committee hearing of the House Ways and Means Committee on Thursday focused on the potential
Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Scott Taetsch | Getty Images Sport | Getty Images Professional athletes suddenly striking it rich and then precipitously losing it all is a tale familiar to
Ira L. Black – Corbis | Corbis Sport | Getty Images The English Premier League’s Liverpool F.C. may be 127 years old, but it’s not averse to embracing new innovations. On Wednesday, its pre-season clash against Portuguese giants Sporting Lisbon was broadcast in virtual reality (VR). NextVR, which specializes in the live broadcast of sporting
Shares of Caterpillar plunged after the company posted disappointing second-quarter results as higher material costs including tariffs and lower demand in China made a dent in its profit. Caterpillar earned $2.83 per share in the second quarter, versus consensus estimate of $3.12 per share, according to Refinitiv. Revenue also disappointed with $14.432 billion reported compared
A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company’s IPO in New York. Brendan McDermid | Reuters Check out the companies making headlines after the bell: Shares of technology companies Facebook, Alphabet and Amazon all fell more than 1% after the U.S.
If it’s hard to believe that one fish could be worth a mind-boggling $2.6 million, then you’re probably not familiar with the high-stakes world of tournament sports fishing. Marlin jumping off the coast of Ocean City. CNBC 2018 White Marlin Open CNBC The prize money for last year’s tournament ballooned to more than $11 million,
If some financial advisors seem to know clients’ needs before they do, there’s a good chance software is part of the reason. Financial technology — or fintech, for short — has increased competition in the advice business via automated online platforms. Yet at the same time, advisors have found that those digital advances have bolstered
‘BAANG’ is the new ‘FAANG.’ So says technical analyst John Roque at Wolfe Research, who believes a group of gold miners he coined as BAANG— Barrick Gold, AngloGold, Agnico Eagle Mines, Franco-Nevada, Gold Fields — are better plays than mega-cap FAANG names as they might have reached their peaks and started losing steam. “We made
Most people understand the virtues of a 401(k) when it comes to saving for retirement. Still, few know that there’s another employer-sponsored plan that could work just as well, if not better. Like a traditional 401(k), a Roth 401(k) lets you contribute up to $19,000 a year through automatic payroll deductions and may come with
KUALA LUMPUR (July 20): Finance Minister Lim Guan Eng and his predecessor Datuk Seri Najib Razak both claim to be vindicated by the 484-page report released by the bipartisan Public Accounts Committee (PAC) last week – close to a year after news of individual and institutional taxpayers collectively being denied as much as RM19.4 billion
Tom Cruise on the set of “Top Gun.” Paramount Pictures | Sunset Boulevard | Corbis | Getty Images On Thursday, Paramount debuted the first trailer for “Top Gun: Maverick,” a sequel to the much beloved ’80s classic “Top Gun,” at San Diego Comic-Con. By Friday, eagle-eyed fans had spotted one big difference between the iconic
The “Fast Money ” traders shared their first moves for the market open. Steve Grasso was a buyer of Zoetis. Karen Finerman was a buyer of Red Robin. Dan Nathan was a seller of Microsoft. Guy Adami was a buyer of Newmont Goldcorp. Disclosure Trader disclosure: Steve Grasso is long stock AAPL, BHC, CAR, EVGN, GE,
Credit card issuer American Express beat analysts’ estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers. Customer spending rose 7% in the United States, the company’s biggest market, and 5% globally in the second quarter. U.S. consumer spending increased in May and April. Debit and credit card purchase volumes
Flood waters cover a neighbourhood street after Tropical Storm Barry passed through in Mandeville, Louisiana on July 14, 2019. SETH HERALD | AFP | Getty Images Hurricane Barry dumped more than 23 in. of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Andrew Left’s Citron Capital posted a net return of 24.7% after fees and expenses in the first half of 2019, according to an investment letter posted on the fund’s website Wednesday, but said “it has been an extraordinarily challenging environment to be a
KUALA LUMPUR (July 15): The guidelines on the remuneration of directors and key senior management of government entities are expected to be announced by the end of this year, said economic adviser to the Prime Minister, Dr Muhammed Abdul Khalid. He said the guidelines are currently in the finalising stage and it will soon be
Matteo Colombo | DigitalVision | Getty Images You’re all packed and ready for your trip. You know what you’re paying for airfare, hotel and other big ticket items. You even have money set aside for spending. Yet, one wrong move in the planning process — or while you are away — can blow your budget.
A tourist guide holds an umbrella featuring a panda pattern in front of Tiananmen Gate in Beijing, China. Guang Niu | Getty Images China released second-quarter figures on Monday showing that its economy slowed to 6.2% — the weakest rate in at least 27 years, as the country’s trade war with the U.S. took its
An earnings season that delivers will play an integral role in whether the market can maintain all-time highs, according to Crossmark Global Investments’ Victoria Fernandez. The chief market strategist believes Wall Street is completely discounting second earnings expectations right now, and that leaves little room for disappointments when the season kicks off this Monday. “Earnings
The stock market has been hitting all kinds of records this week, and Wharton School professor Jeremy Siegel told CNBC on Friday that he does not see that stopping anytime soon. “I think fair market value does give us another 5% or 6% this year” on the S&P 500 with the Federal Reserve signalling interest
