Month: September 2018

SeongJoon Cho | Bloomberg | Getty Images John Chen, chief executive officer of BlackBerry Ltd., holds the BlackBerry Priv smartphone. BlackBerry reported quarterly profit above Wall Street’s estimates on Friday, as lower expenses helped offset a drop in its enterprise software and services revenue. U.S.-listed shares of the company were up 2.7 percent premarket. BlackBerry,
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Wall Street is buzzing over SEC’s civil action against Tesla CEO Elon Musk, predicting significant negative ramifications for the electric car market due to the action. Shares of the automaker fell 13.9 percent on Friday, their worst day since November 2013. The Securities and Exchange Commission sued Musk on Thursday, alleging for fraud. The complaint
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Of course, there is no shortage of legitimate ways to invest in gold, which is gaining some new attention lately due to global instability, as well as the potential inflationary effects of a growing economy and an escalating trade war. Gold prices may be lower these days in the face of a soaring stock market,
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Check out the companies making headlines before the bell: BlackBerry — The communications software maker reported adjusted quarterly profit of 4 cents per share, compared to a consensus estimate of a penny a share, with revenue also beating forecasts. Lowe’s – The home improvement retailer’s stock was upgraded to “buy” from “hold” at SunTrust Robinson
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REUTERS/Jim Bourg Facebook policy head Joel Kaplan (circled) listens to testimony of Brett Kavanaugh before a Senate Judiciary Committee confirmation hearing on Capitol Hill in Washington, U.S., September 27, 2018.  Facebook’s head of policy, Joel Kaplan, was sitting in the U.S. Senate gallery Thursday behind Judge Brett Kavanaugh as he responded to allegations of sexual
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First American Financial Corp.: “If I’m going to own an insurer, I am always going to gravitate to Chubb. I think Chubb is better.” Ferrari NV: “I like your stock. RACE is very strong.” Paychex, Inc.: “I think Paychex’s franchise is intact and it’s got a good yield. I say hold on.” Verastem Inc.: “I
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Citron Research’s Andrew Left, who has shorted Tesla shares, told CNBC on Thursday he is surprised that shareholders of the company reacted so strongly to the SEC’s fraud charge against CEO Elon Musk. Shares of the electric car company fell about 13 percent in extended trading after the Securities and Exchange Commission filed a complaint
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Ron Sachs | Pool via Bloomberg | Getty Images Elon Musk, CEO of Tesla.  Check out the companies making headlines after the bell: Tesla shares fell nearly 12 percent in after-hours trading following news that the Securities and Exchange Commission has sued CEO Elon Musk for fraud. The suit is related to Musk’s August tweet
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The second bill, the Family Savings Act of 2018 (H.R. 6757), includes changes to retirement and education accounts and creates a new tax-deferred savings account. For starters, the measure would remove the age limit on individual retirement account contributions. Currently, IRA owners cannot make additional contributions beginning in the year they turn 70½. Roth IRAs,
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Rite Aid said it would overhaul its board of directors Thursday, a month after it abandoned its merger with grocery chain Albertsons. The company said that it is separating the CEO and chairman position. Director Bruce Bodaken will become chairman and John Standley will remain CEO. Additionally, Rite Aid nominated three independent directors — Robert
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Hot on the heels of Chinese hotpot chain Haidilao’s debut yesterday, Hong Kong Exchanges and Clearing held another highly anticipated initial public offering with the debut of investment bank China Renaissance. The company, which counts Alibaba-affiliated payments giant Ant Financial as one of its cornerstone investors, was expected to raise approximately $346 million after pricing
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As United Continental Holdings turns its business around after a host of public relations issues crippled the airline giant’s stock, its CEO is trying to heighten United’s focus on the customer, he told CNBC on Wednesday. “We need to de-stress the travel lifestyle,” United Continental CEO Oscar Munoz told “Mad Money” host Jim Cramer in
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