Business News

  • Apple reportedly pays big bucks to buy, shut down iCloud.net

    The company recently bought the rights to the domain, which was previously held by an Asian social networking site.

    CNET q
  • Chesapeake Energy’s stock boosted by analyst upgrade

    Chesapeake Energy was upgraded by a UBS analyst, who said the company’s stock had fallen too far to stay bearish.

    MarketWatch q
  • JCPenney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead

    In January, J.C. Penney CEO Marvin Ellison said the department store chain was getting ready to downsize its fleet.

    CNBC
    JCP $6.46 -5.83%
  • Nvidia’s stock suffers record plunge after analysts say it’s time to sell

    Nvidia’s stock tumbles after Instinet and BMO Capital downgrade the graphics chip maker to rare bearish rating.

    MarketWatch q
  • Trump asks NASA to explore putting crew on rocket's debut flight

    By Irene Klotz CAPE CANAVERAL, Fla. (Reuters) - The Trump administration has directed NASA to study whether it is feasible to fly astronauts on the debut flight of the agency’s heavy-lift rocket, a mission currently planned to be unmanned and targeted to launch in late 2018, officials said on Friday. The study marks President Donald Trump's first step in shaping a vision for the National Aeronautics and Space Administration. Under former President Barack Obama, the U.S. space agency was working on the heavy-lift Space Launch System rocket and Orion deep-space capsule with the aim of sending astronauts to rendezvous with an asteroid in the mid-2020s, followed by a human expedition to Mars in the 2030s.

    Reuters
  • Lexus, Porsche, Toyota, Buick: America's most dependable brands

    In the market for a car--maybe one that's a little gently used? You're in luck: this week, J.D. Power published its 2017 Vehicle Dependability Study, showing which brands are likely to cause the fewest headaches down the road.  The Dependability Study is a bit like Power's equally popular Initial Quality Study, which is typically issued in June. Both studies assess real-world data from America's registered drivers about the problems they've had with their cars, trucks, and SUVs. The difference is that the Initial Quality Study looks at issues folks have had with new vehicles during the first 90 days of ownership. The Dependability Study, however, looks at vehicles that are three years old--the idea being that brands that score well stand a better chance of holding up over the long term.  For the 2017 edition of its Dependability Study, Power polled 35,186 original owners of 2014 model-year vehicles, asking how many issues they'd had with their vehicles in the previous 12 months. Responses were gathered between October and December 2016. The winners, the losers Tied for first place in this year's study were two perennial top-of-the-heap contenders: luxury marques Lexus and Porsche. Each brand had a reported 110 problems per 100 vehicles during the prior year. But premium cars weren't the only ones receiving high scores: in third place was one of the world's best-known mass-market brands, Toyota, with 123 problems per 100 vehicles. Buick followed with a score of 126, and Mercedes-Benz rounded out the top five with 133. The industry average was 156 problems per 100 vehicles. That's four points higher than the 2016 average.  At the bottom of the charts were four of Fiat Chrysler's five brands (which is, unfortunately, fairly common in surveys like this). Fiat fared worst of all, with a staggering 298 problems per 100 vehicles, though in fairness, it might've been bested by Smart if Power had been able to find enough Smart owners to include in the survey.  In the penultimate spot, Jeep fared much better than its FCA sibling, with owners reporting 209 problems per 100 vehicles during the previous year. Other low performers were Infiniti (203), Dodge (187), and Ram (183). As far as individual models are concerned, Toyota was the clear winner, earning top marks in 10 of Power's 18 segments. (That's a record for this study.) Those winners included the Lexus ES, Lexus GS, Lexus RX, Toyota Avalon, Toyota Camry, Toyota FJ Cruiser, Toyota Prius, Toyota Prius v, Toyota Sienna, and Toyota Venza. And interestingly enough, of all models--luxury and mass-market--the Toyota Camry had the fewest number of issues.  Takeaways What does all this mean for you, the buyer? Apart from fewer trips to the garage, high dependability scores could mean more money in the bank. Because of their strong performance, Power says that Toyota vehicles have resale values that are $750 higher than the national average.   It also means that when it comes to issues with your next ride, chances are they'll involve the technology on your dashboard, not the transmission. In-car tech accounted for 22 percent of all owners' visits to the shop, and more often than not Bluetooth pairing and misrecognition of voice commands were the culprits. You've been warned.

    The Car Connection
  • 3 Incredibly Cheap Biotech Stocks -- The Motley Fool

    Here's why AbbVie, Celgene, and Gilead Sciences are three of the least expensive biotech stocks around.

    The Motley Fool q
  • Buffett's firm says 4Q profit up 15 percent on investments

    OMAHA, Neb. (AP) — Warren Buffett's company says fourth-quarter profit improved 15 percent, but most of the gains came from the paper value of Berkshire Hathaway Inc.'s investments and derivatives contracts.

    Associated Press
    BRK-B $170.22 0.04%
  • Cramer: Here's why these stocks are train wrecks

    Jim Cramer puts GNC and Vitamin Shoppe to the test to find out why the stocks have been such a train wreck.

    CNBC Videos
  • Nvidia shares at a 3-month low as hedge funds short the stock like crazy

    Shares of Nvidia (NVDA), which gained over 200% in 2016, are now trading at a three-month low after a 9% drop on Thursday. This drop in shares of the chipmaker came after a downgrade of the stock from Romit Shah at Nomura, who cut his rating to Reduce from Buy and put a $90 price target on shares. Early Friday, the stock was little-changed and trading just above $100 per share. Earlier this month, Nvidia shares also appeared on Goldman Sachs’ latest roundup of the stocks hedge funds are shorting the most.

    Yahoo Finance
    NVDA $101.46 0.97%
  • J.C. Penney to shut 130-plus stores, offer early retirements

    J.C. Penney is joining its department store rivals in pruning its store numbers in an era of online shopping. Penney said Friday that it will close 130 to 140 stores as well as two distribution centers ...

    Associated Press
  • SeaDrill (SDRL) Q4 Earnings: Is Positive Surprise in Store?

    We expect leading contract driller SeaDrill Ltd. (SDRL) to beat expectations when it reports fourth-quarter results on Tuesday, Feb 28.

    Zacks
    SDRL $1.98 -3.88%
  • Here's what's behind the surge in gold prices

    "Fast Money" trader Brian Kelly goes to the charts to break down the surge in gold, and whether it will continue to rally higher.

    CNBC Videos
  • Stocks slip as Dow snaps 10-day streak

    Despite a strong week, stocks (^DJI, ^GSPC, ^IXIC) end with a whimper as the Dow snaps a 10-day winning streak. Plus – another big week for Trump in the books. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland, columnist Rick Newman, and reporter Jared Blikre. Stocks sinking to end the week include HP Enterprise after the tech company posted a big miss on revenue and cut its outlook for the year, Zoës Kitchen as the fast casual chain reported same-store sales declines and disappointing guidance, and JCPenney.

    Yahoo Finance
  • Thomson Reuters StreetEvents
  • Top Research Reports for February 24, 2017

    Top Research Reports for February 24, 2017

    Zacks
    DUK $81.96 1.3%
  • Soccer-Argentina player strike call overshadows AFA meeting

    A strike called by Argentine soccer players over unpaid wages overshadowed Friday's meeting of the country's Football Association (AFA), which was aimed at paving the way for the resumption of the league championships. While AFA delegates debated constitutional issues, including the vetting of candidates for a presidential election which was set for March 29, players' union (FAA) boss Sergio Marchi issued a statement saying members would strike over unpaid salaries.

    Reuters
  • Alphabet's self-driving car unit sues Uber with trade theft charge

    Alphabet Inc's Waymo self-driving car unit sued Uber Technologies [UBER.UL] and its autonomous trucking subsidiary Otto on Thursday over allegations of theft of its confidential and proprietary sensor technology. Waymo accused Uber and Otto, acquired by the ride services company in August, with stealing confidential information on Waymo's Lidar sensor technology to help speed its own efforts in autonomous technology. "Uber's LiDAR technology is actually Waymo's LiDAR technology," said Waymo's complaint in the Northern District of California.

    Reuters
  • Porsche, Audi lift VW to record underlying profit

    Record Audi and Porsche sales helped Volkswagen (VOWG_p.DE) swing to a record underlying profit in 2016, although a bigger than expected charge from the diesel emissions scandal meant it missed estimates for its operating profit. Sales of the German carmaker's luxury brands lifted underlying operating profit before special items 14 percent to 14.6 billion euros ($15.5 billion) in 2016, after the company reported its biggest ever loss in 2015. VW forecast broadly stable earnings this year.

    Reuters
  • Bitcoin hits record high above $1,200 on talk of ETF approval

    By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin jumped to a record high above $1,200 on Friday, as investors speculated the first bitcoin exchange-traded fund (ETF) to be issued in the United States is set to receive regulatory approval. Traditional financial players have largely shunned the web-based "crytpocurrency", viewing it as too volatile, complicated and risky, and doubting its inherent value. Some analysts say regulatory approval of a bitcoin ETF would make the currency relatively attractive to the often more cautious institutional investor market.

    Reuters