Groupon Inc.: “I’ll be candid: I like Groupon and I have been wrong. I keep seeing real value here, so I’m not going to desert it, but it has not been a good one.” Citigroup Inc.: “We only care where something’s going, not where it’s come from, and I’ve got to tell you, I think
Month: January 2019
The industry has seen a big boost since Canada legalized cannabis for recreational use. While marijuana use is illegal in the U.S. on a federal level, a number of states have legalized it for recreational and/or medical use. The stocks of Canadian pot companies like Tilray, which debuted on the Nasdaq last year, and Canopy
China dispatching a delegation for trade talks with U.S. officials is a “good sign” that the two nations are making progress, former U.S. Trade Representative Ron Kirk told CNBC on Thursday. It would be more promising if the countries’ leaders agree to meet about a truce, Kirk said. As authorities hold meetings this week in
“We are getting more and more creative around getting efficiency up and getting our cost of acquisition down,” Amazon’s chief financial officer, Brian Olsavsky, told analysts on the company’s quarterly earnings call on Thursday. AWS beat Microsoft and Google to the market for cloud infrastructure, which companies use to outsource their computing and data storage
Amazon‘s fourth-quarter results beat estimates, but weak guidance and general concerns about slowing growth and heavier investments in 2019 dragged the stock down in after hours trading. Here are the most important numbers: EPS: $6.04 vs. $5.68 estimated, according to Refinitiv Revenue: $72.4 billion vs. $71.9 billion estimated, according to Refinitiv AWS: $7.43 billion vs.
The strikingly dovish tone of the FOMC’s post-meeting statement sent stocks surging higher. But it also generated some conversation around “down-side concerns that the Fed ‘knows more than we do,'” said Catherine L Mann, global chief economist at Citigoup. Mann said, however, that her team’s research indicates that concerns over growth will fade. “Powell argued
It’s a Catch-22: You want to make progress on paying off your debt but, in order to do so, you take out yet another loan. A new study from online lending company LendingTree finds that people are using personal loans to do exactly that: manage existing debt. That comes as outstanding personal loans have reached
“Imagine having an envisioning exercise before making a decision,” Lord said. By and large, retirement savers can use all the help they can get. Research from the Stanford Center on Longevity suggests people generally should be saving twice what they actually are. And while many people have access to a 401(k) or similar plan through
Intel named interim CEO Robert Swan to the position permanently Thursday, ending a months-long search following the ouster of Brian Krzanich last June after the company revealed he had a “consensual relationship” with an employee in a violation of company policy. Swan, 58, has been serving as Intel’s interim CEO for seven months and as
Netflix‘s recent price hike might fuel growth among a different group of viewers: password borrowers. The streaming giant recently announced an upcoming price increase of 13 percent to 18 percent. The fee hike will raise the cost of the cheapest plan to $9, up from $8. The company’s HD standard plan will cost $13, up
It’s shaping up to be a milestone month for stocks. The S&P 500 is on track to see its best January performance in 30 years, and long-time bull Jim Paulsen believes there’s no reason to second-guess the rally. He points to a contrarian indicator: pessimism — a factor that’s still playing a major role on
Andrew Harrer | Bloomberg | Getty Images Jeff Bezos, founder and chief executive officer of Amazon.com Inc., listens during an Economic Club of Washington discussion in Washington, D.C., U.S., on Thursday, Sept. 13, 2018. The last two times Amazon has reported quarterly results, revenue fell short of expectations. Now, investors are facing the prospects of
Kristoffer Tripplaar | AP Celgene Corporation in San Diego, California Celgene, which is being bought by Bristol-Myers Squibb, reported a better-than-expected fourth-quarter profit on Thursday, driven mainly by higher sales of psoriasis drug Otezla. Bristol-Myers agreed to buy Celgene for about $74 billion earlier this month, a deal that will expand its pipeline of cancer
Check out the companies making headlines before the bell: DowDupont – The chemical maker earned an adjusted 88 cents per share for the fourth quarter, a penny a share above estimates. Revenue was short of estimates, however, on lower demand for automotive and appliance-related products. General Electric – GE missed estimates by 5 centss a
Despite the scandals and controversies, Facebook analysts agree on one thing: The social media giant keeps growing with no sign of slowing down. Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth-quarter numbers after the bell on Wednesday. Analysts pointed out that advertisers continue to spend money on the platform
Marlboro-maker Altria on Thursday reported fourth-quarter financial results that matched analyst expectations and gave investors more insight on its new e-cigarette and marijuana investments as its core cigarette business shrinks. Altria in Decemberinvested $1.8 billion for a 45 percent stake in Canadian cannabis company Cronos and $12.8 billion for a 35 percent stake in e-cigarette
General Electric shares surged Thursday after the conglomerate posted better-than-expected revenue, as strong aviation results in the fourth quarter overshadowed lingering problems in the GE Capital and power businesses. CEO Larry Culp said that industrial revenue would be up “low-to-mid single digits” in 2019. He added the company’s power business sees a “flat to slightly
But the company ended up spending a record amount in 2018 — something that the market was happy with. Over 278.8 billion yuan, or $41.6 billion, was spent on product development, sales and marketing, general administration and cost of revenue last year, a 86.2 percent increase in renminbi terms from 2017, when the company splashed
Federal Reserve Chairman Jerome Powell made the right choice in leaving interest rates unchanged and preaching patience — and it shouldn’t be seen as him “caving” to Wall Street, says CNBC’s Jim Cramer. “Don’t listen to the Fed watchers who claim that Powell caved to the stock market or the president,” Cramer said Wednesday after
The Federal Reserve is continuing to change its tune as officials react to the whims of the stock markets, veteran trader Art Cashin told CNBC on Wednesday. “It’s pretty obvious,” he said on “Closing Bell.” “The fact that you look two or three meetings ago, it’s a completely different Fed and that’s … a reaction
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. Facebook is still growing in the U.S. despite a number of privacy scandals that have inspired movements to delete the platform. Facebook reported revenue growth of
One of Apple‘s biggest dilemmas is that iPhone sales, the company’s bread and butter, are shrinking as the replacement cycle becomes lengthier. But Toni Sacconaghi, a top Apple analyst on Wall Street, told CNBC on Wednesday that his firm would upgrade the stock if the company could create a subscription plan for its consumer products
Raising taxes on wealthy Americans would ultimately harm the U.S. economy, according to Gary Cohn, the former Goldman Sachs president who served 14 months as President Trump’s chief economic adviser. “It would be harmful to the economy,” Cohn said in an interview with Leslie Picker on CNBC’s “Closing Bell.” “I’m not saying that collecting more
Economist Larry Summers has advised Democratic presidents, but he’s not ready to jump behind Democratic Sen. Elizabeth Warren’s proposed wealth tax. Warren, of Massachusetts, is a prominent voice in the party’s liberal wing and is exploring a run for president. Her proposal, which she is calling an ultra-millionaire tax, would apply to Americans with more
In order to make sure you don’t blow your budget on areas such as travel and dining out, start first by identifying your essentials, Luber suggested. Those must-haves should include food, clothing, housing and insurance. And it also should include emergency and retirement savings, Luber said. Aim to have six to nine months’ worth of
Reduce the number of surprise expenses by plotting out the finest details of your vacation. Do your research: Consider traveling during off-peak seasons and days in order to shave a few bucks off your trip. For instance, right now might be a good time to book that trip to Catalina Island in California, according to
The strategic push comes amidst a broad shake-up in the private jet market. New apps have made it easier to book flights on-demand, while a glut of planes and competitors are all vying for a dominant share. VistaJet last year acquired XOJET, the on-demand charter company, while Directional Aviation bought U.K.-based PrivateFly, a digital booking
Bitcoin investors may want to forget 2018. First, they should file their taxes. “[Last year] was essentially a blood bath for most crypto investors,” said Tyson Cross, a tax attorney in Reno, Nevada. The digital coin began last year trading at around $15,000, compared with $3,400 today. Still, only around half of bitcoin investors plan
After a barrage of mostly negative headlines in recent months, Facebook reports after the bell Wednesday. Despite the headwinds, analysts remain mostly bullish that the social media titan looks strong heading into the report where they’ll be watching for key metrics on ad revenue, privacy and messenger integration. Facebook has come under tremendous pressure from
Andrew Harrer | Bloomberg | Getty Images The Anthem Inc. Anthem Anywhere application is seen in the App Store on an Apple Inc. iPhone displayed for a photograph in Washington, D.C., U.S., on Saturday, April 21, 2018. Shares of health insurer Anthem soared to a record high Wednesday after it announced plans to roll out
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