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When CNBC’s Jim Cramer first recommended Callaway Golf and Dick’s Sporting Goods as ways to invest around golf a little over a year ago, he wasn’t entirely sure where the industry would go. “At the time, the conventional wisdom held that golf was dead, but I thought we were seeing some green shoots and there
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When the broader market is strong, sometimes CNBC’s Jim Cramer likes to zoom in on specific companies to review what they’re doing right. On Friday, Cramer turned to Honeywell, the massive industrial conglomerate manufacturing aircraft engines, climate control systems, security equipment and other specialty products. “Honeywell’s stock has roared up over 25 percent year to
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Industrials: Tuesday will be critical in determining the strength of the industrial cohort, with earnings reports from General Motors, United Technologies, Caterpillar, 3M and Stanley Black & Decker. Cramer expects all of them to deliver strong results, particularly given the post-hurricane cleanup projects in Texas and Florida and the boon from a weaker dollar. “Now,
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Wells Fargo fired four foreign-exchange executives amid an investigation into that business both internally and from regulators, The Wall Street Journal reported Friday, citing sources familiar with the matter. Wells Fargo confirmed the departures to the Journal and CNBC. Shares of Wells Fargo remained about 2 percent higher Friday afternoon. The executive firings and investigation
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Getty Images John Taylor, of professor of economics at Stanford University (l), and Jerome Powell, governor of the Federal Reserve. President Donald Trump‘s options for the future Federal Reserve leadership could include not one but two of the top contenders. Trump is leaning toward appointing both current Fed Governor Jerome “Jay” Powell and Stanford economist
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Retirees who want to know how much their Social Security cost-of-living adjustment will change their benefits should check their online statements come December. The Social Security Administration unveiled its cost-of-living adjustment, or COLA, for 2018 earlier this month. The 2 percent increase for next year marks a significant jump over last year, which was just
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Veteran investor Bill Miller joined other prominent fund managers in declaring his own bullish views on the stock market. “The global economy has now entered a synchronized expansion for the first time in many years, and the usual macro fears are largely absent,” wrote Miller on Wednesday. Synchronized expansion means economies around the world are
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Bitcoin surged 5 percent to a record high above $6,000 on high trading volume Friday. The cryptocurrency hit a record high of $6,003.81 in late morning New York trading, according to CoinDesk. Bitcoin later pared some gains to trade around $5,905 by early afternoon. Twenty-four hour trading volume in U.S. dollars for bitcoin was nearly
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“This quarter was undoubtedly worse than expected, with an industrial result that was worse than what we saw in March 2007, preceding the financial crisis,” J.P. Morgan analyst Stephen Tusa wrote in a note Friday. The firm says GE’s businesses “are impaired,” citing the continued generation of “essentially zero” free cash flow. J.P. Morgan does
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Thomas Hugger, founder and CEO of fund manager Asia Frontier Capital, added: “We are not really bullish on the oil price due to the strong push by China to reduce the air pollution. However, each investment has its price and if the valuation is very attractive (which I doubt) it could be worth an investment.”
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CNBC’s Jim Cramer had a unique experience during the historic market crash of 1987 that occurred 30 years ago Thursday. “People always want to talk about Black Monday, 30 years ago today where the Dow lost 500 points, erasing more than 20 percent of the market’s value,” the “Mad Money” host said. “But as bad
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It’s the first time that wearables have been mentioned in a Verizon conference call in the past five years, according to FactSet, and the first time that wearables have been a category big enough to mention in a Verizon earnings release. The “other devices” category also includes MiFi devices, for instance, a spokesperson said. But
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PayPal posted a strong earnings report Thursday as Venmo payment volume nearly doubled year over year. Here’s how the company did compared with what Wall Street expected: EPS: 46 cents vs. 43 cents expected, according to Thomson Reuters Revenue: $3.24 billion vs. $3.18 billion expected, according to Thomson Reuters In the year-ago quarter, PayPal reported
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Private-sector employees offered retirement savings plans to about 63 percent of working-age people in 1999. By 2016, that had only inched up to 66 percent, the report said. In 2015, defined-contribution plans such as 401(k)s, along with individual retirement accounts, held about $12.6 trillion in assets, compared with the $2.9 trillion in traditional pensions, which
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