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The trade war with the U.S. couldn’t have come at a worse timing for China, which had just begun focusing “in earnest” on fixing problems with its economy, J.P. Morgan analysts said on Wednesday. Many analysts have suggested that the impact of the Washington-Beijing trade skirmish will be relatively muted on the Chinese economy, noting
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Check out the companies making headlines after the bell: Sonic Automotive stock plummeted nearly 10 percent in after-hours trading. The automotive retailer said that gross margin pressure in key brands negatively impacted its second-quarter results. Jeff Dyke, Sonic Automotive’s executive vice president of operations, said its BMW and Honda dealerships faced lower gross profit per
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First, you receive a call about your student loans. The person on the other end offers to lower your monthly payments or make your debt disappear all together, potentially for a fee. Sounds great, right? You go through the steps, sharing your federal student loan ID and other sensitive information along the way. No worrisome
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Goldman Sachs said profit surged 40 percent to $2.57 billion, exceeding analysts’ estimates on better-than-expected revenue from every major business with the exception of trading. The stock slipped as the company said legal and regulatory costs increased. Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by Thomson Reuters. Company-wide revenue rose
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Johnson & Johnson‘s pharmaceutical business fueled the company’s second-quarter growth, while its consumer unit lagged. The sprawling health company beat revenue and earnings estimates for the quarter and narrowed its full-year forecast. J&J’s pharmaceutical business and medical device segments topped expectations, while its consumer unit fell short. Here’s how the company did compared with what
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Some drug companies have continued to increase prices despite growing public discontent, a move that senior equity analyst Elliot Wilbur told CNBC “makes absolutely no sense.” “It’s simply bad decision-making and terrible policy on [a drug company’s] part,” Wilbur, who focuses on pharmaceuticals at financial firm Raymond James, said Monday on “Power Lunch.” Pfizer, one
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Check out the companies making headlines after the bell: Netflix stock sank nearly 14 percent in extended-hours trading. Netflix only added 674,000 subscribers in the US during its second quarter, well below the analysts’ expectations of 1.23 million.The popular streaming service earned $3.91 billion in revenue, missing the analysts’ expectations of $3.94 billion. Shares of
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If you don’t take full advantage of the rewards, many offers do not make sense, Huffman said. Depending on how much you spend each month, signup bonuses and other rewards don’t always offset the cost of an annual fee, which can be as much as $450 depending on the card, according to personal finance site
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Gates’ $100 billion fortune in 1999 would be worth about $149 billion in today’s dollars. So today, Bezos officially passed the inflation-adjusted Gates high. Bezos’ fortune has more than doubled over the past two years as Amazon’s stock has soared. Earlier Monday, Amazon shares hit an intraday all-time high of $1,841.95, and the company’s market
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Big banks continue to be a profitable group despite being immensely disliked on the Wall Street, CNBC’s Jim Cramer said Monday. “I think this group is hated,” Cramer said on “Squawk Box,” shortly after Bank of America reported better-than-expected second quarter earnings. “More hated than I’ve seen than any other time other than 2009 and
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