07:29 EDT CECO Environmental initiated with an Outperform at Cowen
Shares of Amazon have come a long way since the company's 1997 initial public offering. Since then, Amazon shares have sky rocketed 48,197% from their May 15, 1997 debut of $18 a share. Before Amazon was the "Everything Store" it was an online book store
By Allison Lampert and Alwyn Scott MONTREAL/NEW YORK (Reuters) - Canada's Bombardier Inc hit back on Friday at rival U.S. planemaker Boeing Co's claim that it sold jets well below cost to win market share in the United States, the latest sign of increasing trade tensions between the two countries. The risk of the United States imposing a tariff, which would likely depress sales of Bombardier's newest jet, and concern over how big that tariff might be, unsettled investors, sending the Canadian company's shares down just over 4 percent. Boeing wants the U.S. government to investigate what it describes as rock-bottom prices for Bombardier's new CSeries aircraft, including an "absurdly low" sum of $19.6 million it says Delta Air Lines Inc paid for a jet costing $33 million to build.
Apple is refusing to pay any royalties owed to mobile chip maker Qualcomm for some of the features in the iPhone, escalating a patent feud that has turned the former business partners into bitter adversaries. The latest twist in the dispute represents a major blow for Qualcomm, which depends on licensing fees for a large portion of its revenue. Apple's decision to withhold royalties will cost Qualcomm up to $500 million in the current quarter alone, based on revised revenue estimates that Qualcomm released Friday.
Elizabeth Warren and Bernie Sanders are not happy about reports that former President Barack Obama will be paid $400,000 to speak at a September health care conference put on by the Wall Street firm Cantor Fitzgerald. Sanders' distrust of politicians receiving what he considers exorbitant paychecks for speaking to major investment banks is well known.
At a recent conference, retirement experts concluded that the lack of an easy drawdown mechanism in 401(k) plans was the major challenge facing the 401(k) system. In 2014, the Treasury Department and the IRS issued guidance that made longevity annuities accessible to 401(k) plans and that enabled target date funds to include annuity contracts either as a default or as a regular investment option. But individual plan sponsors feel under siege by lawsuits and see little payoff to being innovative. At the same time, Congress is unlikely to mandate that annuities be a part of 401(k) arrangements. So we are at a standstill. Millions of Americans — having been told that their retirement plans are automatic
The battle against anxiety disorders and panic attacks since childhood is the focus of Wall Street Journal contributor Andrea Petersen's forthcoming book, "On Edge." She describes fears of carrying out simple activities in life and traces mental illness through her family. Photo: Brian Stauffer
Shares of luxury fashion brand Vince (NYSE: VNCE) tumbled nearly 40 percent Friday, after the company said it has "substantial doubt" about its ability to continue as a going concern for the next 12 months. Its warning comes roughly one month after struggling department store Sears (NASDAQ: SHLD) made the same statement in its annual filing with the Securities and Exchange Commission. A change in accounting regulations that went into effect during the first quarter now requires management teams to assess whether there are "conditions or events" that raise substantial doubt about their company's ability to stay in business for the next year.
Tesla Inc on Friday said that its subsidiary SolarCity will curtail door-to-door sales of rooftop solar installations over the next month as Tesla seeks to absorb the company into its high-end brand. The move comes at a time when growth in sales of residential solar systems has slowed in key states, including California, where Tesla is based. Industry watchers say consumers in more mature solar markets have tired of the industry's aggressive sales tactics.
Upon the release of BioMarin's orphan drug Brineura, which made headlines for its $702,000-per-year price tag, chairman and CEO JJ Bienaimé said the system will have the final say on whether the sky-high price is fair. "Obviously, the system will have to determine that," he told Cramer on Friday. "I think, hopefully, ... if there is any kind of regulations coming around health care, that they will make sure that those regulations protect innovation and protect innovative biotech companies," Bienaimé said. Finally, Cramer spoke with AGCO Chairman, President and CEO Martin Richenhagen to understand more about how President Donald Trump's protectionist slant might affect the agricultural landscape.
The passenger who was dragged off a United flight after he refused to give up his seat to airline employees settled with the airline for an undisclosed sum Thursday in an apparent attempt by the company to put the fiasco behind it as quickly as possible. David Dao's legal team said in a brief statement that the agreement includes a provision that the amount will remain confidential. One his lawyers praised United CEO Oscar Munoz.
On Wednesday night and early Thursday morning, President Trump injected a new and to some puzzling argument into the debate over the effort to fund the government through the end of the fiscal year and the need to continue paying health insurance companies subsidies under the Affordable Care Act. Specifically, he started tweeting about Puerto Rico. The Caribbean island, a U.S. territory that is home to 3.5 million natural-born American citizens, hadn’t been one of the major issues in a fight over whether the government would shut down when the current spending resolution expires after Friday.
On April 11, offshore driller Seadrill Ltd (NYSE:SDRL) announced some very good news for a change. The company said, in a press release, that it had secured 10-year contracts for two offshore drilling vessels, worth $1.4 billion in long-term revenue. And while the company did sacrifice some short-term revenue, since the agreements included reductions in near-term dayrates, the contracts are an unequivocal win for Seadrill. But that doesn't necessarily mean they're a good thing for current Seadrill shareholders. Let's take a closer look at why investors shouldn't count on an upside. Seadrill's new contract extensions According to the release, Seadrill subsidiary North Atlantic Drilling reached
U.S. Steel (X) lost a quarter of its value on Wednesday when it reported a surprise loss, and while some analysts have tried to defend the company, others have thrown in the towel. Illustration: Agence France-Presse/Getty Images Deustsche Bank, for instance, cut U.S. Steel to Hold from Buy yesterday, and today, Macquarie's Aldo Mazzaferro slashed his rating to Underperform from Neutral, a move that even I could see coming from a mile away. When U.S. Steel reported, Mazzaferro noted that he was "very disappointed," especially because he had only recently upgraded its shares to Neutral from Underperform. "We remain concerned that the company’s high-fixed costs, amplified by weak volumes and pricing,
In a span of less than four months, Tesla Motors (TSLA) founder and CEO Elon Musk has added $2.3 billion to his personal wealth . Musk is now worth more than $13 billion, according to the Bloomberg Billionaire Index, but it could have worked out very differently. In fact, a crucial decision Elon Musk was forced to make in 2010 when, by his own account, the billionaire was broke, is one of the reasons Musk has been able to cash in on Tesla's rapid share rise this year: Musk held on to shares at the very moment when a sale to raise cash would have made financial sense.
United Airlines and the passenger who was dragged from a Chicago flight earlier this month have reached a settlement for an undisclosed sum, they said on Thursday, in the carrier's latest step to contain damage from an incident that sparked international outrage. Viral videos of Dr. David Dao being dragged down the aisle of a United jet and Chief Executive Oscar Munoz's handling of the incident touched off a public outcry, prompted calls from congressmen for new industry regulation, and led United's board of directors to reverse an agreement to make Munoz company chairman in 2018. Southwest Airlines also said on Thursday that it would end overbooking of flights.
Or worse, that you don't have enough cash in the bank to sustain your retirement. While it's important to tune your financial decisions to your individual goals, here are seven money mistakes that you could end up regretting for life. The No. 1 financial regret Americans share is not saving enough for retirement, according to a 2016 survey by Bankrate.
US Secretary of Education Betsy DeVos (R) speaks as President Donald Trump (L) listens during a parent-teacher conference listening session at the Roosevelt Room of the White House February 14, 2017 in Washington, DC. Since taking her post as Trump’s education secretary, Betsy DeVos has worked to roll back some protections for student loan borrowers. In an April 11 letter to the Federal Student Aid office, DeVos withdrew three policy memos issued under the Obama administration.
The net worth of Amazon founder and CEO Jeff Bezos topped $80 billion for the first time on Thursday, leaving him just $5 billion below the #1 spot on the world's richest person list,.
Apple, Inc. AAPL is set to report its second-quarter fiscal 2017 results on May 2. Last quarter, it posted a 4.35% positive earnings surprise. The company has outperformed the Zacks Consensus Estimate in three of the last four quarters, with an average positive earnings surprise of 0.89%.
IranAir has abandoned plans to take early delivery of a Boeing 777-300ER jetliner because the passenger plane is no longer available, the head of the Islamic Republic's national flag carrier was quoted as saying by Iranian media. Iran had been expected to receive the first of 80 aircraft ordered from the U.S. planemaker in April or May 2018, but Iranian media and industry sources said this month it might get the first Boeing jet a year earlier than expected under a proposal to swap deliveries with Turkish Airlines . "Boeing had proposed to hand over a 777-300ER by summer after Turkish Airlines withdrew its order for it.
Congrats, grads: The proportion of employers planning to hire recent college graduates hit a decade-high this year. Almost three-fourths of employers intend to hire college graduates this year, according to a new survey from CareerBuilder. "Competition for soon-to-be college grads is escalating to a degree we haven't seen in the last 10 years," said Rosemary Haefner, chief human resources officer for CareerBuilder.
What happened Shares of Synchrony Financial (NYSE:SYF) have dropped today, down 15.9% as of 11:45 a.m. EDT, after the company reported first-quarter earnings. So what Expected to report $0.73 per share in profit on $3.6 billion in Q1 sales, Synchrony instead reported only $0.61 per share earned -- despite raking in more than $3.99 billion in revenue. This was a big miss for Synchrony, and it kind of shocked Wall Street -- the more so because Synchrony's profits actually declined year over year, whereas Wall Street had expected the banker to eke out a small gain. One year ago, Synchrony had earned $0.70 per share in Q1 2016 profits. Explaining its loss, Synchrony noted that while its interest
By Adam Jourdan and Ben Blanchard SHANGHAI/BEIJING (Reuters) - China needs to raise its military capabilities to protect its growing overseas interests, its foreign minister said following the launch of China's first domestically built aircraft carrier, while vowing not to pursue expansionism. China launched the carrier on Wednesday amid rising tension over North Korea and regional worries about Beijing's assertiveness in the South China Sea and its broader military modernization program. "Under this new environment, China has ample reason to raise its own national defense capability to effectively protect its fair rights that are increasingly extending overseas," Wang said in response to a question on the new carrier, according to a statement on the ministry's website on Thursday.
United Airlines has announced “substantial” policy changes following the recent incident aboard a recent flight when a passenger was dragged off the plane. “The changes are the result of United’s thorough examination of its policies and procedures, and commitment to take action, in the wake of the forced removal of a customer aboard United Express Flight 3411 on April 9,” the statement on the airline’s website read. The airline says they will now limit law enforcement to safety and security issues.
Republicans said they would push a short-term spending bill — essential to keeping the government open — through the House Friday with only GOP votes, if necessary. At the same time, a House GOP leader said late Thursday that there would be no vote on major GOP health care legislation until at least next week.