Month: July 2018

Chinese internet search giant Baidu on Tuesday topped Wall Street estimates for quarterly profit on the back of strong growth in its online advertisement business. Revenue for the segment rose 25 percent to 21.1 billion Chinese yuan ($3.10 billion) in the second quarter. The company has seen rapid growth in its newsfeed product, an app
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A new Somerville startup wants to apply the strategy of direct-to-consumer brands like Warby Parker and Dollar Shave Club to an overlooked segment of consumers: Older adults struggling with incontinence. The new company, called Willow, is set to launch its website and online marketing campaign on Tuesday. Willow will sell packages of 60 pairs of
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of AT&T Karen Finerman was a buyer of Citigroup Brian Kelly was a buyer of SPDR Gold Shares Guy Adami was a buyer of Cirrus Logic Trader disclosure: On July 30, 2018 the following stocks and commodities mentioned
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Archer Daniels Midland‘s net profits doubled in the second quarter and beat Wall Street estimates, after a drought in Argentina and the U.S.–China trade spat boosted the U.S. grain merchant’s trading and oilseed processing businesses. Shares were up 1 percent at $47.86 after touching a three-year high on the New York Stock Exchange. Operating profits
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Jack Guez | AFP | Getty Images Bitcoin is a borderless digital currency that eliminates the need for a bank. Therefore, understanding this concept hinges on conceiving financial transactions without banks. Perhaps less surprising is that predictions of bitcoin’s demise fail to account for technological factors. Bitcoin is, after all, technology, but you don’t have
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Pfizer topped Wall Street estimates for quarterly profit on Tuesday, driven by higher sales of its cholesterol and arthritis drugs, but the biggest U.S. drugmaker lowered its full-year revenue forecast due to a stronger dollar. The company’s rheumatoid arthritis drug, Xeljanz, reported sales of $463 million for the second quarter, beating consensus estimates of $432
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Here are some of the highlights for the second quarter: Net income: 647 million Swiss francs ($655 million) Net revenues: 5.6 billion Swiss francs ($5.57 billion) CET1 ratio: 12.8 percent Tidjane Thiam, chief executive officer of Credit Suisse, said the second quarter of 2018 “was a period of continued strong performance as we achieved our
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Mark Zuckerberg, founder and chief executive officer of Facebook Inc., smiles during a news conference at the company’s headquarters in Palo Alto, California, U.S., on Wednesday, Oct. 6, 2010. But some value investors, such as Christian Bertelsen, are using the opportunity to add more tech stocks to their portfolios. “Facebook is getting into my range,”
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A willingness to survive on fast food alone was no surprise to Mat Ishbia, CEO of United Wholesale Mortgage in Pontiac, Michigan, who said he’d gladly do that. But sharply curtailing communication with friends and family was unexpected. “You wouldn’t be able to show off that dream home,” Ishbia said. All kidding aside, buying a
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The chances of Les Moonves remaining at the helm of CBS are slim, after allegations of sexual misconduct surfaced last week, according to longtime media analyst Porter Bibb. “I think it’s inevitable that Les is history at CBS, whether he takes a leave of absence or is dismissed outright,” Bibb said on CNBC’s “Power Lunch”
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The market’s favorite technology stocks are tanking as investors are growing concerned over the companies’ ambitious growth targets after disappointing financial results from Facebook and Netflix this month. The NYSE FANG+ index is down more than 10 percent from its high of 3,062.88 in mid-June after its 2.8 percent drop Monday to the 2,734 level.
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Several Wall Street firms are cautioning their clients about the prospects for Twitter shares, saying the social media company’s stock will not outperform until user growth returns. On Friday the company posted slightly lower-than-expected second-quarter monthly active user (MAU) numbers. But the bigger disappointment was Twitter’s guidance for the third quarter, when it forecasts a
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Oil prices rose back above $70 a barrel on Monday, with U.S. crude posting its best one-day dollar gain in over a month, after four weeks of losses for the benchmark. U.S. West Texas Intermediate crude ended Monday’s session up $1.44, or 2.1 percent, to $70.13 a barrel. While the contract has risen in seven
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Bezos found his enlightenment from the decision to leave Wall Street at the age of 30. “The wake-up call,” Bezos has been quoted as saying, “was finding this startling statistic that web usage in the spring of 1994 was growing at 2,300 percent a year.” “You know, things just don’t grow that fast,” he has
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