Screenshot | Microsoft live stream Adobe CEO Shantanu Narayen, Microsoft CEO Satya Nadella and SAP CEO Bill McDermott announce the Open Data Initiative at Microsoft’s 2018 Ignite conference in Orlando, Florida. Legacy tech companies have been scooping up smaller cloud and software providers in massive deals throughout 2018. The consolidation comes as older enterprise tech
Daniel Roland | AFP | Getty Images Bill McDermott, CEO of German software giant SAP, addresses the media during the company’s annual financial statement at it’s headquarters in Walldorf near Heidelberg, southern Germany, on January 24, 2017. SAP is acquiring Qualtrics for $8 billion, snapping up the survey software company just before its planned IPO.
Larry Glazer believes a bullish scenario is unfolding on Wall Street, just in time for the holidays. The $3 billion money manager points to impending Washington gridlock as a major factor in his optimism. The polarized result of the midterm election, which saw the House swing to Democratic control but preserved the GOP’s hold on
Roslan Rahman | AFP | Getty Images View of the arrival hall at the newly built Changi airport terminal 4 in Singapore on July 25, 2017. In October, the world’s longest flight made its maiden voyage, from Newark Liberty International Airport, landing at Changi Airport in Singapore nearly 19 hours later. The Airbus A350-900ULR —
Smith Collection | Gado | Getty Images Sign at Whole Foods market grocery store in San Ramon, California announcing promotion in which Amazon Prime credit card holders receive a 5% discount when shopping at the store, February 27, 2018. And it’s working. Credit card originations from consumers ages 18 to 34 rose 10 percent from
Chinese e-commerce giant Alibaba promises that this year’s annual Singles’ Day this Sunday will be the “largest-ever in terms of scale and reach.” The holiday, which started as a day for unmarried Chinese to buy gifts for themselves, has become the biggest single shopping event in the world. Consumers bought a record $25.3 billion in
Ninety percent of workers should have higher take-home pay as a result of the tax cuts, said John Kartch, vice president of communications at Americans for Tax Reform, a conservative advocacy group. He pointed to a list of companies providing new benefits and bonuses in response to the tax cuts. “I’ve spent a lot of
Crude oil ended Friday with its 10th straight session of losses, a losing streak not seen in more than 34 years. Those losses have pushed it deeper into a bear market, having plunged nearly 22 percent from its 52-week high. Such a steep sell-off has made a mess of the commodity’s charts, says Matt Maley,
The Harry Potter franchise is strong enough to turn movies into blockbusters, even without its titular character. With author J.K. Rowling at the helm, Warner Bros. is pushing ahead with taking the beloved franchise and delving deeper into its mythology. Its next installment of the franchise, “Fantastic Beasts: The Crimes of Grindelwald,” is due out
The potential 16-digit credit card combinations provide far more account numbers than could ever be used, according to Cris Poor, a mathematics professor at Fordham University. Poor says the 16-digit card numbers have 10 quadrillion possibilities. By comparison, the world population is a mere 6 billion. “So each person in the world could have more
For young couples, major relationship milestones used to look something like a borrowed letterman jacket or a shiny key to an apartment — a show of trust and commitment, and a means to say, what’s mine is yours. Younger millennials and Gen Z teens, more tech-savvy and less privacy-keen than generations before, have kept the
Cramer is tired of high-performing companies getting the runaround from investors after reporting strong earnings. “We’ve seen so many companies report great numbers this quarter and the market has yawned or even trashed their stocks for no good reason, other than misperception,” he said. Using Norwegian Cruise Line Holdings as an example, Cramer pointed to
Square Inc.: “I’ve going to give you the two Squares. There’s the Square from the point of view of the businessperson, and they are spending a lot of money to be able to win in the arms race. And then there’s the Square from the point of view of the stock, and people say they’re
Toymaker Funko has a notable “competitive advantage” in the world of online battle-royale gaming craze Fortnite, its CEO Brian Mariotti told CNBC’s Jim Cramer on Friday. “We’re the first one to grab a license, we’re the first one to have the product in the marketplace and our category, so we think we have a competitive
While CNBC’s Jim Cramer was blown away by the recent “incredible resurgence” in shares of Crocs, the shoemaker behind the ubiquitous rubber clogs loved by kids and teens, he still wouldn’t recommend the stock. “I think the company deserves a lot of credit for this turnaround, but I wouldn’t buy the stock of Crocs unless
Walmart: Cramer awaited another great quarter from Walmart, which he said could be bolstered by online sales. He’ll be listening for two things on the company’s post-earnings conference call: tariff talk, as China is a major source of Walmart’s merchandise, and comments on the state of the U.S. economy. Applied Materials: Semiconductor equipment maker Applied
The stock market can “absolutely” go higher even without technology stocks leading the way, Wharton School finance professor Jeremy Siegel told CNBC on Friday. Tech stocks, which have delivered the best returns in recent years, have been hammered lately. October was their worst month since 2008. “We might get surprised by [investors] moving into some
Then-Goldman Sachs CEO Lloyd Blankfein attended a 2009 meeting with the Malaysian financier later accused of plundering billions of dollars from his country’s investment fund, according to a person with knowledge of the situation. Blankfein, who retired as CEO last month, is the unidentified Goldman executive who attended the 2009 meeting in New York referenced
“While current U.S. growth remains above‐trend, helped by fiscal stimulus, this positive impulse is peaking now, and will combine with an increasing drag from tightening financial conditions,” Loeb said in a letter dated Friday. “We have delevered our portfolio, reduced our tech exposure meaningfully, and grown our short book. We expect to be net sellers
Daniel Loeb’s Third Point Capital added a new stake in American Express of 5 million shares, according to a filing with the Securities and Exchange Commission. American Express shares pared their losses following news of the stake from the activist hedge fund. The stock closed down 0.2 percent at $108.28 a share on Friday. “With
Justin Sullivan | Getty Images Firefighters try to save a building as the Camp Fire moves through the area on November 8, 2018 in Paradise, California. Residents affected by the three fires scorching parts of California have yet another ordeal to contend with: beginning the homeowners’ insurance claims process. Two of the blazes — the
Karl Mondon | Digital First Media | The Mercury News | Getty Images Firefighters begin a back burn against the Camp Fire on Pentz Road south Paradise, Calif., November 8, 2018. Shares of PG&E plunged more than 12 percent on Friday as three simultaneous wildfires continued to rage through California. The decline put the stock
J.P. Morgan’s strategy goes further than jockeying for lead left. Namburi and Michael Millman, co-head of equity capital markets, also want to make more money for the bank when it’s second on an IPO. In pitching venture investors and later-stage start-ups, J.P. Morgan bankers are showing that when they work as the second bookrunner, alongside
In a new agreement between tech giants Amazon and Apple, shoppers will soon see a selection of the latest Apple products on the e-commerce behemoth, Amazon told CNBC in statement. The agreement means the latest Apple products like the iPhone XR, XS and XS Max will be available on Amazon. Amazon and Apple have a
If your health is good, that’s great. If you assume it will never go downhill, that might not be so wise. Remember, original Medicare (Parts A and B) doesn’t cover everything. While everyone’s situation is different, it’s important to at least consider the unknown. For example, while you might take no medicine now, there’s a
The homebuilders are getting crushed this year. The XHB homebuilders ETF and ITB home construction ETF are both tracking for their worst years since 2008, the middle of a housing crisis that demolished the group. They now face a make-or-break level, said Todd Gordon, founder of TradingAnalysis.com. “We are deeply into oversold support here. We
Brian Berdan, vice president of product management at a telecommunications firm, admits to this disconnect. In the many hiring decisions he’s made, a thank-you note was never a consideration. “I was more about their competence than their etiquette,” he said. In fact, Berdan counsels his own kids who are entering the job market to thank
Cory Disbrow | Getty Images The Main Street Philharmonic entertains guests at the Magic Kingdom, Walt Disney World, Florida. Disney’s better-than-expected earnings and upcoming streaming service have Wall Street glowing as the longtime media giant enters a whole new world of content delivery. Shares jumped nearly 3 percent in early trading Friday, adding to their
Buy-and-hold billionaire Ron Baron predicted on Friday that the Dow Jones Industrial Average will reach 500,000 in the next 50 years. Speaking from his annual investment conference in New York, Baron told CNBC the stock market reflects the economy. Therefore, he argued, if gross domestic product doubles every 10 years, so will the market. Extrapolating
Check out the companies making headlines before the bell: General Electric – J.P. Morgan Securities analyst Stephen Tusa cut his price target on the stock to $6 from $10, saying the most recent earnings report was worse than expected on “almost all fronts.” Walt Disney – Walt Disney reported adjusted quarterly profit of $1.48 per