BlackRock, the largest asset manager in the world, on Monday reported second-quarter earnings and revenue that surpassed analyst expectations. The company also reported, however, a slowdown in inflows amid increasing market uncertainty. Here is how the company’s results fared compared with Wall Street estimates: Earnings: Adjusted $6.66 per share, vs $6.55 expected by Thomson Reuters
0 Comments
The Bank of America cost-cutting machine hummed along for another quarter. The second-biggest U.S. lender said that second-quarter profit surged 33 percent to $6.8 billion, exceeding the $5.92 billion estimate of analysts surveyed by FactSet. Executives said it was the 14th straight quarter the company posted positive operating leverage, or increased profit by turning levers
0 Comments
Europeans are flouting the trading clout they have. They, for example, don’t want to reduce their 10 percent import tax on U.S. automobiles to the 2 percent the U.S. charges on EU-originating motor vehicles. Put very briefly, Trump is wasting time trying to change the existing trans-Atlantic trading regime. He should simply tell the German
0 Comments
Spencer Platt | Getty Images  Traders work on the floor of the New York Stock Exchange on July 12, 2018 in New York City. All eyes will be on corporate earnings this week as earnings season shifts into high gear. Netflix is among the corporates that will lead the week’s earnings announcements, with the streaming
0 Comments
Vipin Kumar | Hindustan Times | Getty Images A number of Uber employees have allegedly filed complaints against Uber’s chief operating officer, Barney Harford, for insensitive comments regarding women and minorities. On a conference call this spring with colleagues, Mr. Harford, the company’s chief operating officer, critiqued a new ad that showed a mixed-race couple,
0 Comments
Coinbase, the largest cryptocurrency exchange in the U.S., is considering adding five new tokens to its platform. The five digital coins include cardano, basic attention token, stellar lumens, Zcash and 0x. “It wouldn’t surprise me to see these things up 20, 30, 40 percent over the weekend,” digital trader Brian Kelly said Friday on “Fast
0 Comments
The bank’s recent charge may indicate that consumers are simply getting smarter with rewards programs, according to Bankrate.com chief financial analyst Greg McBride. In online forums devoted to credit-card usage, consumers boast about using spreadsheets and smartphone apps to stay on top of their credit. “There’s a subset of savvy credit-card users who are diligent
0 Comments
Chris Brightman of Research Affiliates says a simple equal-weighted strategy can do even better when combined with regular rebalancing. Rebalancing is essentially trimming stocks that have outperformed and buying those that have underperformed given a historical tendency for prices to revert to an average. In essence, Brightman added, it’s betting against the current Wall Street
0 Comments
The devices make it easier to shepherd traffic around networks. In developing its own, AWS could facilitate the shifting of traffic onto its services and away from customers’ on premises systems. However, networking vendors are well entrenched in large companies’ data centers, and Amazon could face significant sales challenges convincing customers to swap existing gear.
0 Comments
Add India to the list of countries that are growing frustrated with the U.S. administration’s trade policy. On Thursday, a group of top executives and government officials from India met in Washington with U.S. trade representatives and others at the Annual Leadership Summit of the U.S.-India Strategic Partnership Forum (USISPF). Many expressed their concern about
0 Comments
Getty Images Facebook CEO Mark Zuckerberg speaks during the F8 Facebook Developers conference on May 1, 2018 in San Jose, California. Facebook’s market leading position in the advertising market is unmatched, according to Jefferies. The firm raised its price target to $240 from $215 for Facebook shares, predicting its second-quarter sales results will be above
0 Comments
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Twitter Karen Finerman was a buyer of JPMorgan Brian Kelly was a buyer of the S&P Regional Banking ETF Guy Adami was a buyer of CBS Trader disclosure: On July 12, 2018 the following stocks and commodities
0 Comments