Under Armour reportedly ousted two executives who are long-time associates of CEO Kevin Plank, The Wall Street Journal reported on Monday, citing people familiar with the matter. Ryan Kuehl, senior vice president of global sports marketing, and Walker Jones, senior director of sports marketing, were both removed last week, but the company did not give
Inversion of the so-called yield curve is yet another reason to fear an earnings, or even an economic, recession in 2019, according to Morgan Stanley. The bank’s chief U.S. equity strategist told clients that while it’s difficult to forecast what an inverted yield curve means for stocks in the near term, he wasn’t surprised to
In the end, Seagraves advises against any online calculator. He favors spreadsheets. “The most elementary spreadsheets that run on Android or iPhone devices can do a better job of calculating mortgage payments than the online calculators,” he said. Even the best calculators require accurate, current figures for taxes, insurance and other costs. Mark Burrage, executive
The Federal Reserve is putting more stress on gathering raw material. It has dramatically slowed the growth in money supply by shrinking its balance sheet. If this were the oil industry, the fact that there was less oil available and it cost more would be a crisis. It is no less a crisis if the
If rates keep rising, that tension will only grow. The prevailing market wisdom — at least before the recent volatility in stocks and increasing concerns about a slowdown in the U.S. economy — had been that the Fed would hike as many as three times next year. The Fed is expected to raise rates again
Apple shares fell in premarket trading Monday after Citi slashed its price target to $200 a share, saying “trade wars are bad for tech stocks.” The stock fell into the red for 2018 on Friday and is down 25 percent this quarter. “While we do not expect Apple to miss its sales guidance we do
Bank of America Merrill Lynch downgraded FedEx shares on Monday, citing the abrupt departure of the head of the company’s Express unit last week. “The company made a surprising change to its Express CEO, which we believe could signal a reduction or delay in its profit improvement target,” wrote analyst Ken Hoexter in a note
U.K. peer-to-peer lender Zopa plans on raising more money in 2019 as it looks to open up its own bank, its boss told CNBC. The financial technology start-up recently obtained a banking license from Britain’s financial regulator, on the back of a £60 million ($76.5 million) funding round it closed last month. “We will be
Tesla would consider buying the factories General Motors said it intends to idle, CEO Elon Musk said in an interview that aired on “60 Minutes” Sunday night. “It’s possible that we would be interested. If they were going to sell a plant or not use it that we would take it over,” he said. In
U.S. stock futures fell on Sunday night as traders feared an intensifying trade war between the United States and China. Dow Jones Industrial Average futures dropped 197 points, implying a decline of 173.95 points at Monday’s open. S&P 500 and Nasdaq 100 futures also declined. The losses would add to a steep decline from last
The wild trading that’s gripped Wall Street may be no ordinary correction. According to Ned Davis Research’s Ed Clissold, a bear market is officially here. “If you take this as a typical bear market, not associated with a recession, it’s going to take you down around 20 percent — maybe a little bit more,” the
Goldman’s relatively upbeat assessment came against a backdrop of a market buffeted by internal and external risks — most notably the U.S.’ ongoing trade war with China. The Dow has erased its gains for the year, while the S&P 500 pulled back 2.3 percent to 2,633.08 and turned negative for the year. The bank acknowledged
But it was the relationship between Norton and Nadler that got EDO off the ground. While both men are known in the arts, they met through Kenso, which Nadler founded in 2012 and sold to S&P Global for $550 million this year. Kensho’s analytics tools are used in the financial and health-care industries as well
Sure, we may see CBS and Viacom merge next year. But there aren’t many obvious deals left. There are two major ways the media and telecommunications world could shift in the coming years. First, a huge technology company could buy a large media company. But again, that’s unlikely to happen before 2020. The second possible
Russell Investments’ Doug Gordon is optimistic stocks will find a floor — just not until next year. Gordon, a senior portfolio manager on the firm’s technical asset allocation strategies team, blames uncertainty surrounding the U.S.-China trade war and Federal Reserve policy for the violent market swings. “The first and fundamental question: Is this a correction
Reduce your taxable income dollar-for-dollar by contributing as much as you can to your 401(k) or employer’s retirement plan by Dec. 31. If you are 18 or older, you can save up to $18,500 to your 401(k), and if you are over 50 you can kick in an extra $6,000. With IRAs you can contribute
How much more is now the central question, but in conversations with senior Ford and VW executives they do little to hide the likelihood that the answer will be “lots.” About the only thing off the table, said an executive with frequent C-suite access, is any sort of cross-equity swap. Along with the possible collaborations
Sally Toro grew up poor. “I was never taught about saving or preparing for the future,” she said. Through her 20s and 30s, she saved nothing. When she was 39, Bea Martin, a coworker at the financial company she worked for, asked if she was using the company’s 401(k). No, she answered. Between supporting her
“Create a home inventory.” It’s one of those to-do list items personal finance journalists (me included) often recommend, yet everyone tends to put off (also me). Polls from the Insurance Information Institute estimate roughly half of homeowners have a home inventory, a rate that hasn’t budged much over time. That’s not too surprising. Ignorance seems
GlaxoSmithKline PLC: “We don’t care where a stock’s been, we care where it’s going, but it is at $37. It’s got a 5 percent yield. [CEO] Emma Walmsley is supposed to be doing a good job. I have not seen what I’d like to see from that company. As far as I’m concerned, there are
When the stock market sells off, CNBC’s Jim Cramer always advises searching for stocks that have been dragged down with the broader market despite the strength of their underlying businesses. The last time the market endured a major sell-off, those stocks ended up being the “cloud kings,” Cramer’s group of top-quality plays in the cloud-computing
There is some important data in the week ahead that the bond market will be focused on, including CPI inflation data Wednesday and November retail sales on Friday. “I think we’re in a holding pattern, waiting to see if we get oversold on the S&P and look for some sort of oversold bounce, and I
Starbucks: The coffeemaker’s Analyst Day will be nothing less than a “lovefest,” but an educational one, Cramer said. He’ll be on the lookout for newsmaking events, employee benefit upgrades and other special initiatives. “Starbucks is on a roll right now and I expect CEO Kevin Johnson will give us a road map for a return
The Federal Reserve could cause “panic” on Wall Street if it reneges on its widely anticipated December interest rate hike, CNBC’s Jim Cramer said Friday. “Because he’s promised a rate hike, [Fed Chair Jerome Powell] risks stirring a wave of fear if he doesn’t tighten,” Cramer said as stocks fell on weaker-than-expected jobs results and
“It just means you’re lower for longer, meaning there’s no real bounce, which is a sign of real selling.” said Scott Redler, partner with T3Live.com. “Sometimes you break moving averages and you get some kind of quick fast recovery…but when you stay down longer, all of a sudden it’s showing real selling. That’s why people
Citigroup needs to do “whatever it takes” to cut costs to meet its efficiency target for the year, Wells Fargo analyst Mike Mayo told CNBC on Friday. The bank recently warned it will likely fall short of its 2018 efficiency target, an outcome Mayo said is “not OK.” “I can’t believe that this is happening
Even as concerns over a trade war are sending U.S. stocks tumbling, the private tech market is holding up for now, said Henry Ellenbogen, who invests in public and private companies at T. Rowe Price Group. “I suspect if this were to continue for six months, or if we really go into a bear market,
Drew Angerer | Getty Images Mark Zuckerberg, chief executive officer of Facebook, Dan Rose, vice president, partnerships at Facebook, and Sheryl Sandberg, chief operating officer of Facebook, attend the annual Allen & Company Sun Valley Conference, July 12, 2018 in Sun Valley, Idaho. Facebook is increasing its buyback program by $9 billion, the company disclosed
President Donald Trump may not like it, but the flow of vehicles built in Mexico and sold in the U.S. is not slowing down. In fact, Mexico is on pace for a record year for auto exports to the U.S., with the total likely topping 2.5 million vehicles. New data from the Mexican Automotive Association
Wall Street is seeing red. The Dow lost 4.5 percent this week, while the S&P ended the week down nearly 5 percent and still on pace for its worst quarter in seven years. This as the trade war jitters, Fed uncertainty and fears of slowing economic growth continue to weigh on investors. Three experts weigh
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