Autodesk forecast second-quarter profit on Thursday below Wall Street expectations, sending the AutoCAD software maker’s shares down nearly 4 percent in extended trading. The company’s forecast overshadowed a beat on both first-quarter revenue and profit. Autodesk forecast second-quarter adjusted profit between 13 cents and 16 cents per share. Analysts on average were expecting a profit
The CEO of Italy’s largest utility firm says he’s been left stunned by the tactics deployed by Spain’s Iberdrola, amid a bitter feud over Brazil’s largest power distributor. Europe’s top two utilities, Enel and Iberdrola, are in the midst of a fierce battle to secure the assets of Brazil’s Electropaulo. The South American grid operator
Russian metals tycoon Oleg Deripaska stepped down as a director of his aluminum firm Rusal as part of a choreographed series of steps which he hopes will persuade the U.S. government to rescind sanctions that have crippled his businesses. Deripaska is now actively preparing the next step: reducing his stake in En+, the group which
Regulating cryptocurrencies is a good thing and it might even help advance the digital currency market, crypto trader Ran Neu-Ner told CNBC on Thursday. “When [regulators] come out with regulation, it’s going to open the floodgates for new money to come into crypto,” the host of CNBC Africa’s “Crypto Trader” said on “Fast Money.” While
United Continental Holdings has selected former Federal Aviation Administration chief Jane Garvey as board chair, making her the first woman to lead the company’s directors, the carrier said on Thursday. “Jane steps into this critical role bringing with her decades of experience as both a leader and pioneer in our industry,” United Chief Executive Oscar
Otting’s statement acknowledges that banks may not be able to serve all of this large market. Some industry experts question whether operating in the small-loan space will be profitable enough for banks. “Banks in the past have tried to offer these loans and found them unprofitable,” Dennis Shaul, CEO of the Community Financial Services Association
Gary Hershorn | Getty Images A United Airlines airplane passes the skyline of lower Manhattan and One World Trade Center as it heads to a runway at Newark Liberty Airport on January 20, 2018 in Newark, New Jersey. United Airlines has reached a settlement with the family whose French bulldog puppy died after it was
It’s a mixed bag – a green energy developer, a shoemaker, a telecom equipment manufacturer and a port on the border with North Korea. But the businesses all have one thing in common: they’re among a rash of bond defaulters that has players wondering whether a day of debt reckoning in China’s US$2.8 trillion onshore
Best Buy shares were sinking Thursday following a first-quarter beat that failed to impress Wall Street. The problem, according to one market watcher, was that expectations were too high. “It was priced to perfection going into the number,” Boris Schlossberg, managing director of FX strategy at BK Asset Management, told CNBC in an email Thursday.
President Donald Trump’s decision Thursday to cancel the Singapore summit with North Korea‘s leader sent the price of gold higher as global investors sought safety. Bridgewater Associates founder Ray Dalio shared a specific game plan last year during a time period of rising tensions between the U.S. and North Korea. The investor recommended gold as
But there’s another issue with consumer staples: These stocks are not cheap. With price-to-earnings ratios at 20x and higher and virtually little to no organic growth, these stocks are more like value stocks at the end of a cyclical bull market, toppy charts with slowing earnings growth. So maybe the recession-proof thought process needs a
First, to apply you still need to have made the 120 qualifying and on-time payments under the program and have already been rejected for public service loan forgiveness. But not all those rejected can apply — only those borrowers who were initially denied because of their repayment plan. Specifically, if you were deemed ineligible because
“A lot of times, when people look at athletes they see a man, but … they haven’t had a chance to develop and one of the things they haven’t had a chance to develop is financial literacy,” added Michael Bennett. “At my house, we never talked about trusts and wills and life insurance,” he said.
“They’ve had nothing left over to deal with other increased costs,” said Mary Johnson, Social Security and Medicare policy analyst for the Senior Citizens League, which surveyed 1,116 retirees across the country earlier this year. The reason for the premiums devouring all or much of the extra Social Security amount is due largely to the
Victoria’s Secret is looking broken, according to one analyst, following the earnings report by lingerie retailer’s parent company L Brands. Shares of L Brands, which also owns Bath & Body Works, initially sold off Thursday after the company slashed its full-year profit outlook. However, as the retailer discussed during a call with the financial community
Best Buy, the No.1 U.S. consumer electronics retailer, posted a forecast-beating jump in quarterly comparable sales and earnings on Thursday, but online sales growth decelerated and shares dipped in pre-market trading. Best Buy’s sales at established stores rose 7.1 percent in the first quarter ended May 5, handily beating analysts’ average expectation for a 2.9-percent
Shareholders at Gullane Capital Partners are betting on a comeback for maternity apparel retailer Destination Maternity. While it hasn’t been exactly rosy for the company — with sales weighed down by challenges so far, and a slow entry into e-commerce, Trip Miller, managing partner of Gullane Capital Partners, believes that things are looking up. “There’s
When it comes to business advice, there are few people better placed to bestow their wisdom than Jack Ma, the billionaire founder of Chinese e-commerce giant Alibaba. Good job, then, that he set up a university to share tips on the meteoric rise of one of the group’s leading companies, Taobao. Situated in Hangzhou, China,
A key distinction between Paradex and other exchanges is that it does not hold tokens on behalf of its customers. Users instead trade peer-to-peer, directly from their own “wallets.” Coinbase in contrast, acts as a trusted custodian for digital assets on its exchange. “This peer-to-peer trading removes the need for third-party custodianship and the associated
Consumers are returning to the luxury goods sector with updated versions of iconic brands such as Tiffany & Co. and Louis Vuitton. Retail analyst Oliver Chen told CNBC that it’s a good place for investors to be too. “Tiffany is very exciting,” Chen, managing director and senior equity research analyst at Cowen Outperform, said Wednesday
UBS shared with its clients the firm’s best current stock picks. In addition to screening for factors like the potential for gains over the price targets, sector weightings and liquidity, the list focuses on “stocks where we believe our analysts have a truly differentiated view versus consensus,” the firm’s research group said in a report
Be sure to verify that you have your passport and that it has not expired well before your international trip. Keep in mind that the expiration date on that document is misleading. That is because you generally want to have a passport that is valid for at least six months from the date of your
The Internal Revenue Service and Treasury Department will release new rules to address workarounds by high-tax states that are designed to help their residents manage new caps on federal tax deductions. The IRS announced the move in a notice on Wednesday, without specifying details. This year, the Tax Cuts and Jobs Act places a $10,000
If you’re about to turn 26 and age out of your parents’ plan, start working on finding your own coverage either through an employer or through an individual policy. “When you first graduate from college, you might be moving or looking for a job,” said Zamosky. “Health insurance is often not at the top of
Bill Ackman’s Pershing Square has taken a stake in Lowe’s, a source tells CNBC. Ackman’s new stake in the home improvement retailer was first reported by Dow Jones. The hedge fund manager revealed the approximately $1 billion sized position at a Kirkland & Ellis conference in New York Wednesday, a source tells CNBC. Ackman said
The US’s banks have largely sat out the mergers and acquisitions wave of recent years. While deal records have fallen in almost every other sector, big banks have done almost nothing, shrinking rather than expanding. And merger activity among small and mid-sized banks — some 5,607 of them, at last count — has been subdued.
CNBC’s Jim Cramer said Wednesday that he wouldn’t count out Comcast Chairman and CEO Brian Roberts on a successful bid for Twenty-First Century Fox assets just yet. “What Brian Roberts wants he tends to get,” Cramer, whose charitable trust owns shares of Comcast, said on “Squawk Box.” He added that he hopes a Fox deal
Goldman Sachs is cautioning its clients that computerized trading may exacerbate the volatility of the next big market sell-off. “One theory that has been proposed for why market fragility could be higher today is that because HFTs [high-frequency trading] supply liquidity without taking into account fundamental information, they are forced to withdraw liquidity during periods
When she graduated, she was eager to wipe out her education debt. She decided to withdraw $10,000 from her 401(k) plan. After struggling to find a high-paying job, she wasn’t able to free herself from her student loans as fast as she had hoped. Meanwhile, the balance kept growing, thanks to interest. When she did
Christopher Dilts | Bloomberg | Getty Images Customers exit a Ralph Lauren Corp. store in downtown Chicago, Illinois. Ralph Lauren on Wednesday reported a higher-than-expected quarterly profit, as the luxury apparel maker’s move to pull products off department store shelves and sell more products at full-price boosted margins. The company’s shares rose 3 percent in
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