European stocks were muted early in Wednesday’s session as comments from U.S. President Donald Trump reignited fears over trade. The pan-European Stoxx 600 traded just below the flatline after the opening bell, oil and gas stocks tumbling 1.2% while household goods were the strongest early performers with a 0.5% rise. European Markets: FTSE, GDAXI, FCHI,
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Alex Gorsky, CEO of Johnson & Johnson Adam Jeffery | CNBC Johnson & Johnson vowed to defend itself against lawsuits alleging the company fueled the opioid crisis and that its namesake talc-based baby powder caused ovarian cancer and mesothelioma. The iconic health-care company faces more than 14,000 lawsuits over its talc-based baby powder, as well
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Wells Fargo shares fell on Tuesday despite beating profit forecasts as investors punished lower net interest income than hoped and comments from management that expenses could remain on the higher end of projections into 2020. The bank said its net income was $6.2 billion in the second quarter, up from $5.9 billion in the first
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David Solomon, Goldman Sachs Andrew Harrer | Bloomberg | Getty Images Goldman Sachs beat Wall Street’s expectations for second-quarter results Tuesday with outperformance in its investment banking and trading division. Here’s how the company did compared with what Wall Street expected: Earnings: $5.81 per share vs. $4.89 per share forecast by Refinitiv Revenue: $9.46 billion
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Johnson & Johnson shares fell 1% Tuesday despite the company posting a 42% profit spike as concerns about lawsuits the company faces regarding its talc-based baby powder and its alleged role in the opioid crisis weighed on investors. Here’s what the company reported compared with Wall Street estimates, based on a survey of analysts by
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European stocks were muted on Tuesday morning as traders monitor a slew of earnings reports. European Markets: FTSE, GDAXI, FCHI, IBEX The pan-European Stoxx 600 hovered just below the flatline in early trade, with construction and material stocks getting off to the strongest start with a 0.4% rise, while oil and gas shares slipped 0.6%.
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Stewart Butterfield, CEO and co-founder of Slack, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, July 10, 2019. Gerry Miller | CNBC Microsoft might be the primary competitor for Slack, but the widespread adoption of Microsoft’s software is not a major problem for Stewart Butterfield, co-founder and CEO of
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The depressed valuations for banks and other financial firms mean “this is the time” for acquisitions and mergers in the industry, a former CEO of Wells Fargo said Monday. “Anytime you have high regulations in any industry, you get concentration, and banks are cheap,” Richard Kovacevich said on CNBC’s “Closing Bell. ” “So if you’re
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Treasury Secretary Steven Mnuchin has concerns about Facebook‘s proposed cryptocurrency and its potential illicit use. In a press conference Monday, Mnuchin said Facebook’s planned digital currency “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.” “Cryptocurrencies such as bitcoin have been exploited to support billions of dollars
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Larry Culp, CEO, General Electric Scott Mlyn | CNBC Here are the biggest calls on Wall Street on Monday: UBS downgraded GE to ‘neutral’ from ‘buy’ UBS downgraded the stock citing valuation, a decline in interest rates, and ongoing power market weakness. “We are downgrading GE to Neutral, as a notable decline in interest rates and
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Matteo Colombo | DigitalVision | Getty Images You’re all packed and ready for your trip. You know what you’re paying for airfare, hotel and other big ticket items. You even have money set aside for spending. Yet, one wrong move in the planning process — or while you are away — can blow your budget.
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It’s become one of the biggest shopping events of the year, yet some discounts are better than others. The 48-hour Amazon Prime Day extravaganza began at 3 a.m. Monday ET, with more than 1 million deals being offered to members, including intermittent “lightning deals.” For example, the Toshiba HD 43-inch Fire TV Edition Smart TV
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Citigroup on Monday beat analysts’ expectations for second-quarter profit and revenue on gains from the initial public offering of electronic bond trading platform Tradeweb. The bank posted profit of $4.79 billion, or $1.95 per share, compared with the $1.80 estimate of analysts surveyed by Refinitiv. Excluding the impact of the IPO, the bank would have
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Ashley Cooper/Construction Photography/Avalon | Hulton Archive | Getty Images Wind turbines in Scotland generated 9,831,320 megawatt hours between January and June 2019, WWF Scotland said Monday. The numbers, which were supplied by WeatherEnergy, mean that Scottish wind generated enough electricity to power the equivalent of 4.47 million homes for six months. That is almost double
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European stocks traded higher Monday morning, despite worries that China’s economy is slowing amid a trade war with the U.S. European Markets: FTSE, GDAXI, FCHI, IBEX The pan-European Stoxx 600 edged 0.5% higher in early deals. Basic resources leading led the gains with a 1.3% rise while food and beverage stocks slipped 0.2% and were
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Hemp plants are grown for medical research purposes in Chiang Mai province, Thailand. Taylor Weidman | Bloomberg | Getty Images With Thailand’s legalization of medical cannabis in February, some experts predict that other Southeast Asian countries may move to decriminalize the plant. If that happens, it could prove a significant opportunity for investors interested in
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