The University of Pennsylvania has produced more billionaires than any other university, according to Forbes. In a ranking of the schools that produce the most billionaires, Forbes said UPenn beat out Harvard and Yale to take the top spot. Thanks in large part to its Wharton School of Business, UPenn has 18 graduates who are
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Goldman Sachs posted earnings Tuesday that easily beat expectations on the top and bottom lines. The company also disclosed it plans to buy back $8.7 billion in shares after being “extensively engaged” with shareholders on the issues. After rising during the premarket, shares fell at the market open and were last down about 1.5 percent.
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UnitedHealth, the largest U.S. health insurer, reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast, helped by strength in its pharmacy benefit management business. UnitedHealth, the bellwether for the industry, is the first health insurer to report earnings a week after U.S. President Donald Trump decided to cut off subsidies to health insurance
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Johnson & Johnson reported a higher-than-expected quarterly profit and raised its full-year forecast as the company gained from strong sales of its new cancer drugs. Shares of J&J, part of the Dow Jones industrial average, were up 1.3 percent in premarket trading on Tuesday. Higher demand for its blood cancer drugs, Darzalex and Imbruvica, and
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CSX, the third-largest U.S. railroad operator, reported a slight rise in quarterly net profit on par with analyst expectations on Tuesday, as coal and consumer goods shipments and higher freight rates lifted its revenue 1 percent. The results sent CSX shares up 1 percent at $53.76 in morning trading, though analysts saw possible future headwinds
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Morgan Stanley reported third-quarter earnings Tuesday that topped expectations after its wealth management business posted strong results, while its fixed income and equities traders navigated a tough environment better than peers at firms such as JPMorgan. The bank reported: Earnings per share of 93 cents versus 81 cents projected by analysts polled by Reuters. Revenue
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“With a background of global growth which is now looking synchronized across the world for the first time in many years, that’s a pretty good environment in which to make money for European companies, which are very broadly based,” Stephen Macklow-Smith, head of European equity strategy at JPMorgan Asset Management, told CNBC Wednesday. In the
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Check out the companies making headlines after the bell: Netflix‘s stock rose more than 1 percent in the extended session after the company posted slightly better-than-expected third quarter results. Sonic‘s stock dropped more than 2 percent in extended trading after the company posted fourth quarter earnings. The fast-food chain blamed Hurricane Harvey, in part, for
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Netflix continues to grow, adding 5.3 million net subscribers this past quarter. And it’s willing to spend the money to continue that trajectory, with a new content budget of between $7 billion to $8 billion for next year. The figure is up from the $7 billion figure chief operating officer Ted Sarandos previously said to
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Imagine a permanent house for pop-up shops. That’s what Simon Property Group, the largest mall operator in the U.S., is preparing to unveil next month at one of its properties on Long Island, New York. The platform, known as “The Edit@Roosevelt Field,” offers retailers early on in their businesses the opportunity to set up shop,
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Mounting credit concerns and lethargic profit margins will plague “weak” Citigroup earnings over the next two years, said one Wall Street research firm. Societe Generale reduced its rating on Citigroup shares to sell from hold Monday, citing deteriorating credit trends and increased loan loss provisions as detailed in the bank’s most recent earnings report. “Although
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