David A. Grogan | CNBC Brad Smith, President and Chief Legal Officer, Microsoft, speaks at the 2017 Cambridge Cyber Summit on October 4, 2017. The current U.S. government shutdown is not good for business, Microsoft president and chief legal officer, Brad Smith said on CNBC’s “Closing Bell” on Thursday. “It is not good for business,”
Expect economic data and earnings reports to be softer for much of the year as growth in the economy slows to under 2 percent in 2019, Leuthold Group’s Jim Paulsen told CNBC Thursday. “We’re going to have a fairly significant slowdown in the economy, in earnings, in attitudes and everything,” Paulsen said on “Power Lunch.”
Netflix previously warned content costs are more heavily weighted in the second half of the year. Newly appointed Chief Financial Officer Spence Neumann said during the company’s earnings interview that a move toward owned content has “put pressure on the cash flows of the business and the cash needs of the business over the past
In the wake of Nike’s 30th anniversary of the “Just Do It” campaign, the company just did it. The major retailer featured former NFL quarterback Colin Kaepernick in its ad campaign with the message: “Believe in something. Even if it means sacrificing everything.” Has the Kaepernick gamble paid off? Plus, Facebook’s Sheryl Sandberg and Twitter’s
Last month was one for the Wall Street history books — not only was it stocks’ worst December since the Great Depression, but it now appears to be pivotal moment when investors really gave up on active management. According to data from Morningstar out Thursday, actively managed mutual funds experienced outflows of nearly $143 billion
Gianluca Colla | Bloomberg | Getty Images Visitors pass a giant model of a luxury A. Lange & Soehne wristwatch, manufactured by Lange Uhren GmbH, a watchmaking unit of Cie. Financiere Richemont SA. Spending on watches, jewelry, boats and other luxury goods could tumble because of the recent stock market jitters, according an analysis from
However, as a married couple with combined income of $1 million, they would pay 37 percent on $400,000 (the difference between their income and the $600,000 threshold for the highest rate). That would mean paying $8,000 more in income taxes. Other parts of the tax code can also generate a higher bill. For instance, while
Data for last three months of 2018 shows that the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, which is what the Social Security Administration uses to calculate the COLA, has dropped by 1.8 percent compared to the last three months of 2017. The Senior Citizens League’s estimate for COLA in
Bess Adler | Bloomberg | Getty Images A person enters Morgan Stanley headquarters in New York, on Thursday, July 12, 2018. Banks’ trading desks ended 2018 with a whimper – and nowhere as much as at Morgan Stanley. The New York-based firm had the worst bond trading performance among the big five Wall Street investment
A number of government-funded rental assistance programs are in jeopardy as the longest shutdown in U.S. history wears on. A red screen on HUD’s website explains that the agency is closed until further notice. “Nearly 700 property owners who have HUD contracts to operate housing affordable to the lowest income seniors and people with disabilities
First up is choosing someone to handle your finances if you reach a point where you cannot. When you give someone durable power of attorney for your finances, that person will be in charge of paying bills and filing tax returns, for example. You also should give someone durable power of attorney over health care.
In the meantime, it’s up to consumers to work their own magic. (Sorry, spell casters, but “aparecium” probably won’t cut it.) Expect to do some digging and ask some pointed questions to make sure you understand the product or service you’re signing up for, said Linda Sherry, director of national priorities for advocacy group Consumer-Action.
Bill Stone never wavered from his bullish case during the market meltdown. And now, the Avalon Advisors chief investment officer is calling for a banner year for stocks. “There’s no doubt stocks are cheap relative to bond side of the equation,” he said Wednesday on CNBC’s “Trading Nation.” “You could have a good market.” Stone,
Luke Sharrett | Bloomberg | Getty Images An employee helps install a traction motor onto the truck of a General Electric Evolution Series Tier 4 diesel locomotive at the GE Manufacturing Solutions facility in Fort Worth, Texas. General Electric may yet sell its valuable aviation financing and leasing business, GE Capital Aviation Services, as the
CSX on Wednesday reported quarterly profit that topped Wall Street’s expectations, but shares fell 2 percent after the No. 3 railroad operator forecast less robust revenue growth for 2019. CSX forecast low single-digit revenue growth for 2019 on the heels of 7.4 percent growth last year. Chief Executive James Foote told Reuters the outlook reflects
Top U.S. aluminum producer Alcoa beat Wall Street estimates for quarterly profit on Wednesday, buoyed by strength in its alumina segment, but shares slipped after the company did not provide a closely watched profit measure for the full year. The company’s shares were down 1.6 percent in extended trading, reversing course after rising as much
It was in the early 1990s, after three or four years as a correspondent at CNBC, that it became obvious to me: the vast majority of active managers rarely beat their benchmarks. Sure, there was Bill Miller (Legg Mason Value) and Peter Lynch (Fidelity Magellan Fund), but they were distinguished by their rarity: they were
Morgan Stanley on Thursday reported profit and revenue below analysts’ expectations as whipsawing markets late last year took a toll on the bank’s two biggest businesses. The bank posted profit of 80 cents per share, below the 89 cent average estimate of analysts surveyed by Refinitiv. Companywide revenue declined 10 percent to $8.55 billion, compared
In his final days, though, Bogle still wasn’t convinced, addressing the issue in his final book, “Stay the Course, The Story of Vanguard and the Index Revolution” (Wiley, 2018). He maintained that ETFs were mainly the purview of speculators with most of the “rapid trading” in ETFs “done by financial institutions that use them to
One of the key areas of pain is in privately run, as opposed to state-operated, companies. The private sector contributed to more than 90 percent of new jobs in 2017 and accounts for more than 60 percent of economic growth, according to a state media report last year. But in the fourth quarter, Miller said,
You may not have heard of New Relic, but you’ve probably heard of one of the software analytics company’s newest clients: Fortnite maker Epic Games. New Relic, a cloud-based operator that helps companies monitor their websites and apps in real time, does just that for Fortnite, the company’s founder and CEO, Lew Cirne, told Cramer
The disparity can be seen across the board — from the corner office to the cubicle. Women account for less than 17 percent of senior leaders in U.S. investment banking, according to a Catalyst study released last year. And Morningstar found that less than 10 percent of all U.S. fund managers are women. The numbers
The wealthiest Americans are still the hardest hit by stocks – but now, more than ever, the rest of the country feels the pinch of a decline in the market. “Household equity holdings have more than tripled as a share of disposable income at the aggregate level since the late 80s,” Goldman Sachs senior economist
The government funds federal loans, while banks provide private loans. This is a key distinction, because federal loans offer borrowers certain terms they may not be able to get with a private loan. For instance, federal loans offer borrowers income-driven repayment plans in the event they have difficulty affording the repayment. Students also don’t have
J.P. Morgan Chase CEO Jamie Dimon said Wednesday that it would be in the United Kingdom’s best interest to avoid a hard exit from the European Union. “I think a hard Brexit will be a disaster for Great Britain,” Dimon said at the Economic Club of New York. “We don’t think it will happen because
Alex Wroblewski | Bloomberg | Getty Images Demonstrators rally against a partial government shutdown at a protest hosted by the National Air Traffic Controllers Association (NATCA) on Capitol Hill in Washington, D.C., U.S., on Thursday, Jan. 10, 2019. Aircraft delivery company Jet Test and Transport has also seen the effects of the shutdown, due to
Millions of taxpayers submit their returns as soon as possible. These households often need their refunds to either reduce remaining holiday debt or boost their savings. In 2018, the IRS opened season on Jan. 29. By Feb. 2 — the end of that week — the agency received 18.3 million returns and processed 6.1 million
Political uncertainty abounds. The U.S. government is mired in its longest shutdown ever, U.S.-China trade talks are proving intractable and the Democratic challenger field is expanding as the 2020 presidential election grows closer. But LPL Financial senior market strategist Ryan Detrick says these unknowns coming from Washington are unlikely to shake Wall Street. In fact,
Daniel Acker | Bloomberg | Getty Images A customer shops in a supermarket in Princeton, Illinois. Jefferies downgraded its outlook on Anheuser Busch Inbev‘s stock to underperform on Wednesday, saying the brewing company is facing heavy global competition, hurting any near term growth. “Market share pressures could lead to some disappointment on recovery potential resulting
Ford Motor on Wednesday offered a fourth-quarter earnings forecast that was below Wall Street’s expectations. The No. 2 U.S. automaker said it could see improvement in 2019 earnings and revenue as global industry sales remain flat, but it did not provide any figures. “For 2019, we see the potential for year-over-year improvement in company revenue,