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,”
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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
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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
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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
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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
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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
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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
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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
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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,
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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
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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,
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