Call it eclipse economics. When a large swath of America is bathed in midday darkness for a couple of minutes on Aug. 21, hundreds of cities in the path of the eclipse are hoping it will be a once-in-a-generation boost to local economies. Or it could be a dud, and a costly one at that.
J.C. Penney‘s stock was in free fall Friday after the besieged retailer turned in a mixed report for the second quarter. With earnings and same-store sales falling short of Wall Street estimates, Penney’s shares sank more than 16 percent shortly in early trading, at one point hitting a low not seen since at least 1972.
The NACS survey found that as students progress throughout their academic careers, they become savvier shoppers and are more likely to comparison shop at multiple sources to find the best deal. Sites like CampusBooks.com, BigWords.com and BookFinder.com, among others, track books for new, used and rental texts. When you’re comparing prices, make sure you’re looking
President Donald Trump‘s Washington hotel turned an unexpected profit in the first four months of the year, helped by charging higher rates than initially planned, according to reports in The Wall Street Journal and The Washington Post. The Trump International Hotel had a “nearly $2 million” profit in that period and recorded $18 million in
Engaged couples aren’t the only ones facing big wedding bills. Even as brides and grooms pick up more of the tab for their nuptials, parents are often still on the hook for a big part of the budget. In 2016, just 1 in 10 couples paid for their wedding entirely by themselves, according to The
“I’m supportive of this,” said certified financial planner Hans “John” Scheil, CEO and owner of Cardinal Retirement Planning in Cary, North Carolina. “The reality is that most people don’t have their 401(k)s properly allocated. And most don’t ever reassess where they stand.” Most companies (62.1 percent) in the Callan study have done a re-enrollment when
But there are more challenges ahead. Chief financial officer Drew Vollero said on a conference call that the company would continue at a slower pace of hiring in the third quarter, noting that the third quarter of last year saw revenue boosts from tentpole events like the Summer Olympics and election. Plus, Vollero said, new
Video game developer Nintendo is being sued by a U.S. mobile gaming accessory company that claims the controllers for the Nintendo Switch console infringes on a patent it owns. Gamevice, which makes video game controllers to attach to tablets and smartphones, is demanding that Nintendo stops making and selling the Switch and wants to be
Graphics chipmaker Nvidia saw its stock fall more than 7 percent on Thursday after it reported stronger-than-expected earnings for the second quarter of its 2018 fiscal year, which ended on July 31. EPS: Excluding certain items, $1.01 in earnings per share vs. $0.70 in earnings per share as expected by analysts, according to Thomson Reuters.
Nordstrom reported second-quarter earnings and sales on Thursday that topped analysts’ expectations, sending shares of the stock higher after market close. Same-store sales — a metric monitored closely by Wall Street — for the company were also positive, a rare outcome among department stores of late. Nordstrom said its results this period were fueled by
Getty Images (L to R) Rupert Murdoch, executive chairman of News Corp and chairman of Fox News, and Lachlan Murdoch, co-chairman of 21st Century Fox, walk together as they arrive on the third day of the annual Allen & Company Sun Valley Conference, July 13, 2017 in Sun Valley, Idaho. News Corp reported quarterly earnings
The 18-month postponement request was outlined in a court brief filed Wednesday in Minnesota related to a lawsuit the Labor Department is a party to. If the delay is approved by the Office of Management and Budget, the effective date for complying with the rule’s remaining provisions would be pushed out to July 1, 2019,
It’s tough to save up for a home. It’s a whole lot tougher after poker, cigars and a few dozen jello shots. Millennials spend an average of $1,532 on a single bachelor party, according to a new Zillow analysis of wedding data from The Knot. Without travel and lodging, that number shrinks to $738. Bachelorette
Shares of Blue Apron plunged Thursday after the meal-kit delivery company said during its earnings call that it was encountering unexpected costs tied to starting up a new facility. These costs, as well as further cuts in marketing spending, will likely result in more losses in the second half of the year. Blue Apron now
Department store operator Kohl’s on Thursday reported quarterly earnings and sales that topped Wall Street estimates, as the retailer rung up more purchases than expected in July, the final month of the period. Kohl’s reported a narrower, 0.4 decline in same-store sales, compared to a drop of 1.8 percent during the same quarter last year.
Shares of Blue Apron plummeted Thursday after the company said it was encountering unexpected costs tied to the start up of a new plant in New Jersey. The stock opened trading Thursday down 17 percent. As a result, the meal kit-delivery company said it plans to offset these expenses by reining in marketing spending. Blue
With new CEO Jeff Gennette at the helm, Macy’s showed some signs Thursday of attaining his goal of returning to growth in same-store sales. Macy’s reported that second-quarter sales comps — including those made in departments licensed to third parties — fell 2.5 percent, but that was better than the 3.2 percent decline expected by
The most recent big Mega Millions win — $536 million in July 2016 — was the third largest in the game’s history, and the seventh largest in any U.S. lottery. It was the most ever awarded to a single Mega Millions winner, and the highest cash-value jackpot awarded to a single winner in a U.S.
Animal rights group PETA U.K. swiftly condemned the decision by the central bank to continue using polymer, and advocated a boycott of the banknotes by consumers. “There’s no need for tallow, and the Bank of England has failed to balance the books by investing in a non-animal bank note component that would please everyone,” Elisa
21st Century Fox announced fourth-quarter earnings that beat expectations and revenue that narrowly missed. Here’s how the company did compared with what Wall Street expected: EPS: 36 cents vs. 35 cents, according to Thomson Reuters Revenue: $6.75 billion vs. $6.77 billion, according to Thomson Reuters The company’s earnings fell to 36 cents per share from
Mylan’s stock bounced back in midday trading Wednesday from lower-than-expected second quarter earnings after the company’s management said its generic drug Advair is not being delayed by further FDA-required studies. After shares of the drug-maker dropped as far as 8 percent in premarket trading, Mylan’s CEO Heather Bresch clarified on a call with investors that
The company also announced that it will no longer stream its movies on Netflix starting in 2019. Disney instead plans to launch in 2019 a direct-to-consumer streaming service, which will host its films exclusively. In a Tuesday interview with CNBC’s Julia Boorstin on “Closing Bell,” Iger said that Disney has “no plans” to pull Marvel
The 10-year period began January 1, 2008, which means we are in the final year of the challenge. While we don’t know the funds selected by Protégé, we do have a nine-year performance update — and it’s not pretty. The hedge fund portfolio is up just 22 percent over nine years. That’s slightly better than
Whether to raise taxes on the rich is one of the thorniest issues in tax reform. Underlying that debate is an even more fundamental question: Who exactly qualifies as wealthy? Everyone can agree that Jeff Bezos and Bill Gates are pretty stinking rich. Those earning at least $1 million in income seem to be a
When I advise my clients about their retirement, I can’t just focus on asking them, “How much are you saving?” or “Do you think you are conservative or aggressive?” These are questions to be addressed. However, a couple’s retirement is dependent on a few other financial disciplines that are interconnected with retirement planning to flesh
Victims of bank fraud should not expect automatic refunds and are sometimes at fault for not taking a “duty of care”, the CEO of RBS has reportedly said. Chief Executive Ross McEwan said that banks could not always be blamed if customers give out their account details to online scammers, according to U.K. newspaper the
Many people who have saved millions of dollars to retire comfortably are now scared to spend it. A recently retired client, a woman with approximately $1 million in savings, was asked to join a group of friends on a girls’ getaway vacation costing approximately $3,000. Even though she had plenty of money to take the
Chinese ride-hailing giant Didi Chuxing has announced plans to expand its business in the Middle East and North Africa. The Uber rival said it would enter into a strategic partnership with the Dubai-based car booking service Careem to strengthen its presence in the region. It follows the firm’s decision last Tuesday to team up with
Would-be millionaires now have two opportunities to try for jackpots of more than $300 million. The Mega Millions jackpot is now $346 million, and the Powerball jackpot, $307 million, after weekend drawings for both games failed to yield winners for the top prizes. (The next Mega Millions drawing is at 11 p.m. ET on Tuesday;
Elon Musk’s car company Tesla appears to be leading the “arms race” for lithium-ion batteries — for now. Musk recently announced plans to build the world’s biggest lithium-ion battery storage project in South Australia. Meanwhile, construction of the company’s highly anticipated 35-gigawatt-hour (GWh) “Gigafactory 1” is still underway. “There’s a kind of arms race on