Barra also said GM tightened its belt last year, helping to boost earnings. She announced several plant closures and 14,000 job cuts in November. The reorganization is estimated to save about $6 billion by the end of 2020, with about half of those cost savings realized by the end of 2019, the company said at
Netflix shares jumped nearly 3 percent in the premarket Friday after multiple analysts upgraded the video-streaming giant. Raymond James’ Justin Patterson upgraded the stock to strong buy from outperform. He also hiked his price target on Netflix to $450 per share from $435, implying a 38.6 percent surge. “Netflix is approaching a profit inflection,” Patterson
Apple plans to unveil three new iPhone models later this year, including a successor to the XR, The Wall Street Journal reported Friday. The tech giant’s new phones will include new camera features, the WSJ reported, citing people familiar with the situation. The higher-end model will be fitted with a triple rear camera, while the
The Brazilian government on Thursday said it would allow a proposed tie-up between planemakers Embraer and Boeing to go forward, capping weeks of uncertainty in which President Jair Bolsonaro expressed hesitation. The approval maintains the terms of the deal as previously proposed, with Embraer selling 80 percent of its commercial plane division, its most profitable,
Cleveland-Cliffs Inc.: “The company’s best in show, but I’ve got to tell you, the stock is not going to be a good stock if the Fed tightens again. I don’t think they’re going to in the near future, but I’ve got to tell you, it makes me nervous.” Sina Corp.: “I don’t really care about
Jason Alden | Bloomberg | Getty Images A selection of Netflix original content sits displayed in the Netflix app on an Apple iPad tablet device in this arranged photograph in London. Check out the companies making headlines after the bell: Netflix shares rose more than 1.5 percent after UBS upgraded the company to buy from
Chris Ratcliffe | Bloomberg | Getty Images Canadian maple leafs sit on the faces of one ounce gold coins in this arranged photograph at Gold Investments Ltd. bullion dealers in London, U.K., on Tuesday, July 15, 2014. Goldman Sachs has found the safe haven gold more attractive after a volatile December. The bank on Thursday raised
Jim Watson | AFP | Getty Images A demonstrator dressed as Saudi Arabian Crown Prince Mohammed bin Salman (C) with blood on his hands protests outside the Saudi Embassy in Washington, DC, on October 8, 2018, demanding justice for missing Saudi journalist Jamal Khashoggi. Saudi Arabia raised $7.5 billion in its first dollar bond sale
The economy’s supposed to be really good, if you look at the official numbers. According to the U.S. Labor Department, the unemployment rate was under 4 percent in July, which is a level that is often used to describe “full employment.” Everybody who wants a job has one. Except … not really. The system isn’t
Free speech is getting exhausting. It’s a game of online publishing whack-a-mole. Alex Jones of Infowars fame finally got suspended from Twitter, only to direct his audience to Tumblr. How should those of us who still love America feel about the amount of crazy that’s going on in the media game these days? MoviePass is
Michael S. Williamson | The Washington Post | Getty Images As an airliner prepares to land, a bird takes off at the Gravelly Point park that’s just off the end of the runway near Reagan National Airport. Airlines can’t get federal officials to sign off on new planes and routes amid the U.S. government shutdown,
The Federal Reserve’s balance sheet will be reduced significantly from where it is now, Chairman Jerome Powell said Thursday in remarks signaling that more monetary tightening is ahead. Powell did not specify how much smaller the central bank’s portfolio of bonds would get, but the remark seemed to take some momentum out of the stock
A few days ago, Will Kohler, a tax examiner for the IRS, filed for unemployment. He’s been out of work for three weeks now due to the gridlock in Washington, D.C. “It seems like it’s going to go on forever,” Kohler, 55, said, from his house in Covington, Kentucky. “I need to eat.” He has
Even if you don’t fancy yourself the next Jeff Bezos, it can be worth thinking about your current assets and potential for future wealth before you get married. Amazon’s billionaire CEO and his wife, MacKenzie, announced Wednesday via a tweet that they intend to divorce. TMZ reported Thursday that the couple did not have a
Estimated settlement amount: As high as $68 billion It remains to be seen how the divorce of Jeff and MacKenzie Bezos plays out but, given his status as the wealthiest man in the world, it’s a sure bet the eventual settlement will place the exes at the top of the pack for expensive splits. Even
Hello, San Antonio! Seniors residing in this Texas city have the have the largest non-mortgage debt balances. Those were the findings from a study by LendingTree. The site, an online loan marketplace, analyzed the data of more than 75,000 of its users. Excluding mortgages, residents of San Antonio between 65 and 70 years of age
Many investors who invest in alternative mutual or exchange-trade funds lose out by trying to time their investments. “It’s so easy to cash out after a year of bad performance,” Glassman said. “They buy in after it does well and they cash out after it’s done poorly.” If you invest in one of these strategies,
Keep in mind that simple federal tax returns (and sometimes state returns) can be filled out and filed for free at some of these websites. And if your 2018 adjusted gross income is $66,000 or less, you might qualify for the IRS’ Free File program, a partnership involving the agency and a consortium of companies
Janhvi Bhojwani | CNBC Dennis Muilenburg, CEO of Boeing Inc. speaking at the Business Roundtable CEO Innovation Summit in Washington D.C. on Dec. 6th, 2018. Boeing could have a major surge in the next 12 months on the back of strong commercial airplane sales, according to an analyst at Morgan Stanley. Analyst Rajeev Lalwani upgraded
All eyes are on banks stocks ahead of earnings next week, and the Street is split on whether financial stocks are attractive at current levels. Blue Line Futures President Bill Baruch says caution is warranted, while Susquehanna’s Stacey Gilbert says heightened volatility in the options market is a signal to buy. “I’m very cautious right
Daniel Acker | Bloomberg | Getty Images Shoppers enter a Kohl’s store in Peoria, Illinois. Kohl’s on Thursday reported holiday sales growth that paled in comparison to its results in 2017, sending shares tumbling. The retailer said sales at its stores and website operating for at least 12 months, on a shifted basis, rose 1.2
Before he boarded a JetSmarter flight in Las Vegas, Maurice Paola was a little-known DJ and music producer. Now, he’s a symbol of private jet air rage and screening procedures at the flying service start-up. Paola was one of several passengers on the flight headed to White Plains, New York, on Sept. 3. About 45
“It’s like taking money and throwing it into a barbecue and burning it as fast as you can burn it,” said Dean Rotchin, founder and former CEO of BlackJet, which folded in 2016. “The operating cost of these aircrafts is very expensive.” Former employees say JetSmarter was losing up to $5 million a month in
Target saw a surge of shoppers head to its stores and website during the 2018 holiday season, a sign that its investments in store remodels and delivery services are paying off, and an early sign that consumers across the U.S. spent more on gifts this year. The retailer said Thursday that sales at its stores
China’s Consumer Price Index — a gauge of prices for goods and services — rose 1.9 percent on year in December, lower than economists’ expectations of a 2.1 percent growth, according to a Reuters’ poll. The CPI rose 2.2 percent in November. The latest data brought China’s PPI for January to December 2018 a rise
In the wake of the latest round of trade talks between officials from Washington and Beijing, outside observers are noting that some progress appears to have been made — but there’s still a long way to go before a meaningful deal. On Wednesday, the U.S. trade delegation released a statement noting a long list of
Autozone Inc.: “Autozone has got the best buyback of any company I’ve ever seen. They can slowly and methodically pull stock in. I’ve been recommending the stock since the buyback began. This is a great level to buy, even up here, just 60, 70 points from its high. A lot of stocks are up a
Fourth-quarter reporting season, with major banks releasing numbers next week, will also serve as an important transition period between 2018’s strong double-digit profit growth and 2019’s much slower single-digit pace. Earnings are expected to be strong, up 14.7 percent in the fourth quarter, but corporate executives will be discussing the activity in the current quarter,
Diane Macdonald | Getty Images Bed Bath & Beyond, a home goods store, at Jacksonville Beach, Florida Bed Bath & Beyond said it is ahead of its long-term financial goals in its quarterly earnings released on Wednesday. The stock soared more than 20 percent after hours. The company said it is ahead of schedule in
SiriusXM, the satellite radio giant, announced a plan to buy Pandora, the streaming music pioneer. What does it mean for the future of content and subscriptions online? Also, a big week in cloud computing: Jon Fortt travels to Orlando and sits down for a major triple-play interview with the CEOs of Microsoft, Adobe and SAP.
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