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Morgan Creek Capital’s Mark Yusko is sticking by his October call that stocks must drop nearly 50 percent to reach fair value. On CNBC Wednesday, the firm’s founder and chief investment officer doubled down on his Oct. 11, 2018 prediction that equity prices could lose half of their value. He likened the current market conditions
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Adam Jeffery | CNBC Mario Gabelli, founder, chairman, and CEO of Gabelli Asset Management Company Investors. Billionaire value investor Mario Gabelli said on Wednesday’s CNBC “Halftime Report” that MGM Resorts International stock is “very attractive” and investors should “put a bet on it.” The longtime investor is bullish on MGM because he expects its growing
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Brent Lewin | Bloomberg | Getty Images An attendee looks at an aircraft engine from Pratt & Whitney, a unit of United Technologies, on display during the China International Aviation & Aerospace Exhibition in Zhuhai, China. Industrial conglomerate United Technologies reported a better-than-expected fourth-quarter profit on Wednesday and forecast 2019 earnings above estimates, boosted by
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“Toy Story,” “The Incredibles 2” and other Pixar movies are not only commercially successful, having grossed more than $10 billion worldwide. They also ushered in a new generation of computer-generated animation. The Disney-owned animation studio is largely responsible for some of the most significant developments in computer graphics history. The studio just celebrated the 30thanniversary
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Check out the companies making headlines before the bell: Comcast – The NBCUniversal and CNBC parent reported adjusted quarterly profit of 64 cents per share, beating consensus estimates by 2 cents a share. Revenue also beat Street forecasts and the company increased its dividend by 10 percent. United Technologies – The maker of Carrier air
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Procter & Gamble‘s bet on raising prices amid higher commodity and transportation costs is paying off for the consumer products giant. Shares surged more than 4.7 percent in premarket trading Wednesday after P&G’s fiscal second-quarter earnings and sales report outpaced Wall Street estimates, prompting the company to raise its organic sales forecast. Its beauty products,
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Dell Technologies’ return to the public market comes at a good time for the company and for prospective shareholders, CNBC’s Jim Cramer said Tuesday as the rest of the stock market fell on macroeconomic worries. “The new Dell Technologies has a lot going for it,” Cramer said, highlighting its move beyond the personal computer. “Now,
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Nvidia Corp.: “I think Nvidia’s trying to bottom here. Remember, 40 percent of it is gaming-related, but wow, that stock’s almost been cut in half. I am willing to say [that] if you want to start a small position in Nvidia, I bless it.” Ligand Pharmaceuticals Inc.: “You’re a bit of a risk-taker there, my
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Viacom shares have fallen more than 50 percent over the past five years as many of its signature channels have failed to churn out hit shows that resonate with younger audiences. To stay relevant in an on-demand world, Viacom is offering content in a variety of forms, including free services and several subscription offerings. The
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The best picture nomination for “Roma” was a first for Netflix. The company has continued to place increasing emphasis on its original content as more and more companies have announced they will enter the streaming market. In its fourth quarter 2018 earnings report, Netflix said it is “becoming less focused on 2nd run programming” due
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The critically acclaimed Netflix film “Roma” landed a best picture Academy Award nomination and several other nods Tuesday morning as the streaming service continued breaking through old Hollywood barriers. Meanwhile, Disney’s “Black Panther,” a part of the studio’s Marvel Cinematic Universe, scored the first-ever best picture nomination for a superhero movie. The other nominees for
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Check out the companies making headlines before the bell: Johnson & Johnson – Johnson & Johnson earned an adjusted $1.97 per share for the fourth quarter, 2 cents a share above estimates. Revenue also topped forecasts, helped by stronger sales of cancer and psoriasis treatments. Travelers – The insurance company reported adjusted quarterly profit of
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Prescription drug sales propelled Johnson & Johnson to another quarterly earnings beat, while sales of its signature baby products and other consumer goods showed slight improvement. The company also gave its financial forecast for this year that was close to what Wall Street is expecting. J&J forecast 2019 earnings of between $8.50 and $8.65 per
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Sometimes, no movement is good movement. In the case of the government shutdown, money manager Larry Glazer believes it’s favorable for Wall Street — at least in the short term. His reasoning: It prevents lawmakers from passing policies that could be detrimental to corporate America. “Investors like less Washington, and they realize Washington isn’t always
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Al-Benyan isn’t the only CEO with a long-term China vision in mind. Mark Machin, president and chief executive of Canada’s Pension Plan Investment Board (CPPIB), sees the country’s potential to diversify his portfolio as outweighing any shorter-term economic setbacks. “China is today the second-largest economy in the world, the second-largest equity market in the world,
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Jeffrey Gundlach is ditching Twitter. The founder of DoubleLine Capital said in a tweet late on Sunday he would be deleting his account “due to suspicious activity.” The tweet did not elaborate on the suspicious activity Gundlach was referring to. Gundlach’s account, which has the handle “@TruthGundlach,” has been online since May 2017. Gundlach has
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