Month: April 2019

Editor’s Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Rather, the brand is still available in Saudi Arabia and Egypt. Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million. With the launch, Amazon said
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Prologis Inc.: “You’re buying Prologis at the all-time high here. Let’s just stay away. Let this come in for a little. I think rates could go a little bit higher.” Walgreens Boots Alliance Inc.: “I don’t like that stock. I think that the company has kind of lost its way. They have to make some
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Apple sales technicians confer in front of Apple product advertisements in the World Trade Center in New York City. Robert Nickelsberg | Getty Images Apple reported earnings for its March quarter Tuesday that fell in line with expectations, although revenue was down from the same period last year. However, Apple’s guidance for next quarter was
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Check out the companies making headlines midday Tuesday: Alphabet — Shares of Alphabet tanked more than 8%, on track for its worst day since Dec. 1, 2008, after the Google parent posted weaker-than-expected quarterly results. The company posted revenue of $36.34 billion in the first quarter, versus $37.33 billion expected per Refinitiv. The revenue was
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Questions raised by progressives in the 2020 presidential race about whether capitalism still works for America reflect mistaken beliefs about how prosperity is created, global investor Barry Sternlicht told CNBC on Tuesday. “The left does not understand that companies need to make money in order to invest in new projects and new businesses,” said Sternlicht,
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General Motors Chairman and CEO Mary Barra announces a $300 million investment in the GM Orion Assembly Plant plant for electric and self-driving vehicles at the Orion Assembly Plant on March 22, 2019 in Lake Orion, Michigan. Bill Pugliano | Getty Images General Motors reported higher-than-expected first-quarter profit as the company shaved costs and sold
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More and more Democratic presidential hopefuls are adopting a single-payer health care stance, which could be devastating for any player in the health insurance business, CNBC’s Jim Cramer said Monday. Following the lead of Bernie Sanders, the independent Vermont senator who is one of the biggest mouthpieces advocating for “Medicare for All,” about eight candidates
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Entergy Corp.: “Entergy’s terrific. It’s been a big winner. I think it continues to win. I like that company very much.” Novocure Ltd.: “Novocure is a good company. I don’t understand why it’s independent. I think that one of these big drug companies or device companies should just go buy it, ’cause it’s got great
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3M has adopted a more aggressive playbook to mitigate the challenges it faced during the first three months of 2019, CEO Michael Roman told CNBC on Monday. “We were behind the curve in what we were doing to take costs down in Q1,” he said in a one-on-one interview with “Mad Money’s” Jim Cramer. “The
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Alphabet shares fell about 7% after Google’s parent company reported revenue that fell below analyst estimates for its first-quarter 2019. The drop wiped more than $60 billion off Alphabet’s market cap. Here’s what Alphabet reported compared to Wall Street’s expectations: Earnings per share: $11.90 per share, ex-items, vs. $10.61 expected, per Refinitiv survey of analysts
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David Solomon, Goldman Sachs Andrew Harrer | Bloomberg | Getty Images Goldman Sachs chairman and CEO David Solomon said the investment bank is working hard to put the 1Malaysia Development Berhad scandal behind it. “We are spending a lot of time being reflective and really thinking about how it was that we wound up having
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By 2016, certified financial planner Kirk Francis had helped numerous small business owners implement strategies for exiting work. Yet he didn’t have a succession plan for his own firm. “I sat there going, ‘Hmmm … the cobbler’s son has no shoes,'” said Francis, CEO and chief compliance officer at Financial Life Advisors in San Antonio.
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