Derek Schwartzrock will spend 97 months in prison
Eric Schmidt, executive chairman of Google's parent company Alphabet, is worth an estimated $11 billion. While a significant amount his wealth comes from stock he received as Google's CEO, the billionaire credits a few personal finance strategies with helping build his net worth. This isn't the only piece of advice Schmidt has for professionals.
A Maryland high school student is expected to face charges after a journal with a detailed plan for a mass shooting at her school was found in her home, in addition to a shotgun and bomb-making materials, authorities said. On March 23, the father of the suspect, Nichole Cevario, 18, told officials at Catoctin High School in Thurmont, Maryland, about a "potential threat of violence towards the school," the Frederick County Sheriff’s Office said, and his daughter "was immediately removed from the classroom and turned over to investigators." Authorities searched Cevario's home where they found a shotgun with ammunition and "bomb-making materials to include pipes with end caps, shrapnel, fireworks,
It's been a fantastic 15 months for Advanced Micro Devices (AMD) . If you're among the investors who'd bought the then dead-beat chipmaker back in December 2015, you'd have made over 300% in this period--even as AMD beat quarterly earnings estimates, shrugged off balance sheet concerns and demonstrated liquidity improvement. Is it then time to take profits off the table? We'd recommend staying with the company. First, there is better visibility into Ryzen 7 and the imminent Ryzen 5 launch on April 11. While the Ryzen 7 series competes with Intel's (INTC) workstation and professional applications, it has received mixed reviews. AMD said it plans to launch four mainstream Ryzen 5 CPUs on April
"While world-class thinkers understand the importance of saving and investing , they direct their mental energy toward accumulating wealth through serving people and solving problems," writes self-made millionaire Steve Siebold in "How Rich People Think," which he wrote after studying millionaires for over 25 years. Here are four strategies to build wealth from self-made millionaires who have done it. "You won't get rich without multiple flows of income," says self-made millionaire Grant Cardone , who was deep in debt before reaching seven figures .
Mar.27 -- The Falcon 9 rocket slated to take off from Kennedy Space Center in Cape Canaveral, Florida, has flown before, marking the first time SpaceX will refly one of the 14-story-tall boosters it recovered from past missions. Bloomberg's Dana Hull has more on "Bloomberg Technology."
Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern." For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it's unsure if it could stay in business. Well, duh. Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in
This is probably the biggest rule for being happier at work, because so often when something at work is aggravating you -- like an annoying co-worker, a bad boss or a nonsensical policy -- the natural response is to fixate on the problem.
I’m Professor and Chair of the Department of Economics at LIU Post in New York. I also teach at Columbia University. I’ve published several articles in professional journals and magazines, including Barron’s, The New York Times, Japan Times, Newsday, Plain Dealer, Edge Singapore, European Management Review, Management International Review, and Journal of Risk and Insurance. I’ve have also published several books, including Collective Entrepreneurship, The Ten Golden Rules, WOM and Buzz Marketing, Business Strategy in a Semiglobal Economy, China’s Challenge: Imitation or Innovation in International Business, and New Emerging Japanese Economy: Opportunity and Strategy for World Business. I’ve traveled
Whole Foods Market Inc. WFM, -1.38% has experienced a 3% traffic decline over the last year and a half, or about 14 million customers, according to a Barclays note published Monday. Traffic has declined six consecutive quarters, according to their analysis. Barclays estimates that the loss is in the range of 9 million to 14 million transactions annually, with an average basket size in the range of $30 to $50. Kroger Co. KR, -0.58% with $16 billion in natural and organic sales, has the "most meaningful overlap" with Whole Foods and stands to gain the most, the note said. Barclays calls the loss "staggering" because "as most retailers know, once traffic has been lost, those patterns rarely reverse."
When Weatherford International (WFT) announced that it had named Halliburton (HAL) CFO Mark McCollum its new CEO, its shares jumped as some observers contended it increased the odds of an acquisition by the oil-services giant. It looks like they picked the wrong oil-services giant, however, as Weatherford and Schlumberger (SLB) announced a joint venture late Friday, one that has sent Weatherford's shares soaring and earned it an upgrade from Wells Fargo analysts Judson Bailey and Coleman Sullivan.
To say it's been a bad past two years for Under Armour (NYSE:UA) (NYSE:UAA) stock would be an understatement. After topping at an all-time, split-adjusted high of $52.92 in late September 2015, Under Armour shares have since suffered a 63.2% decline. Worse yet, this sell-off has erased effectively all the outperformance against the S&P 500 that Under Armour shares had accrued over the past five years. However, one investor's trash can be another's treasure in the stock market. Under Armour remains a strong bet for continued growth over the long term. What went wrong at Under Armour The drag on UA stock is the perception that it's a busted growth story, a company whose long history of prodigious
Choosing where to buy a new iPhone isn’t as simple as it might seem. Third-party stores or carriers might give you a better monetary deal than buying an iPhone from the Apple Store, but you’re also going to have to deal with yearly contracts, bill credits, or the hassle of unlocking the device if you switch networks. As of right now, if you buy an iPhone on T-Mobile and opt for extra device insurance, you’ll also get AppleCare included in the price.
Niki Lauda has hailed Valtteri Bottas's debut for Formula One world champions Mercedes as "incredible" and suggested the Finn's retired predecessor Nico Rosberg would have done no better. Bottas started and finished third in Sunday's season-opening Australian Grand Prix, with his team mate and triple champion Lewis Hamilton second behind Ferrari's race winner Sebastian Vettel.
After three decades building an airplane from scratch, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age to see Honda Motor Co's pet aviation project recoup its development costs. Honda has declined to reveal the costs, but the automaker has been researching aircraft development since 1986, and Richard Aboulafia, vice president of analysis at aerospace consulting firm Teal Group, thinks it has likely spent roughly $1 billion on the jet program since the early 2000s - more than double the $400 million typical for similar jets. The company that gave the world the Honda Civic, which revolutionized compact cars in the United States in the 1970s, is betting its $4.5 million dollar, six-seater light business jet, the first aircraft developed by an automaker since World War Two, will expand the fuel-efficient private jet market.
Ever since Donald Trump began railing against undocumented immigrants at the beginning of his presidential campaign, so-called “sanctuary cities” have been a target of some of his strongest condemnation. Attorney General Jeff Sessions, himself a strong supporter of tougher immigration laws, announced that the Department of Justice would deny grants administered through its Office of Justice Programs to jurisdictions that do not comply with 8 USC 1373.
As the stock market closed mostly lower on Monday, the "Fast Money" traders discuss where they are finding opportunity in the stock market. Trader Steve Grasso said he is a "net seller of stocks at this level." He said he has sold positions in Snap
OPEC’s worries about the booming U.S. oil production have increased significantly with the big three oil companies’ interest in shale. Exxon Mobil Corp., Royal Dutch Shell Plc, and Chevron Corp., are planning $10 billion of investments in shale in 2017, a quantum jump compared to previous years. All the naysayers who doubted the longevity of the shale oil industry may have to modify their forecasts.
Maybe you also followed this story. Or maybe not. But basically a really big hedge fund manager, one of those guys who people quote and probably talk about at Harvard Business School, placed a super big bet on this company called Valeant.Valeant is a
As members of Congress in Washington debate raising the minimum required to obtain a U.S. immigrant investor visa from $500,000 to $1.35 million, concern about the hike has set off a scramble among wealthy would-be participants in China. “Some clients are demanding that we make sure their applications are submitted before April 28," the date the program expires unless extended or amended by Congress, said Judy Gao, director of the U.S. program at Can-Reach (Pacific), a Beijing-based agency that facilitates so-called EB-5 Immigrant Investor visas. The initiative channels money to high-profile U.S. real estate projects from New York to Miami to California -- including those by the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser. A current plan by the Kushner family to refinance and reconstruct its New York office building at 666 Fifth Avenue is seeking $850 million in EB-5 funding, as well as cash from Anbang Insurance Group and other investors, according to terms of the proposal reported by Bloomberg News. A spokesman for Kushner Cos. declined to comment.
Right now, the VIX, also known as Wall Street’s fear gauge is creeping toward the long-term average, which suggests that it could attempt a firmer breakout, in the parlance of chart watchers. To be sure, the VIX remains well below its historical average of 20, but the gauge is a sign of how much investors are demanding to pay for protection 30 days in the future for price swings in the S&P 500 index (^GSPC). Last week, the VIX climbed around 15%, which marked its sharpest weekly rise since the 22.7% jump during the week ended Dec. 30, according to FactSet data.
Microsoft has been sued in the US by three users who claim the free Windows 10 update destroyed their data and damaged their computers. The lawsuit filed at the Chicago's US District Court refers to Windows 10 as a defective product and alleges that Microsoft failed to provide adequate warning about the potential risks posed by Windows 10 installation. Microsoft has dismissed the claims, telling The Register: "The Windows 10 free upgrade program was a choice designed to help people take advantage of the most secure, and most productive Windows.
Aluminum producer Alcoa (AA) has seen its shares jump 20% so far this year. Buoyed by a set of positive factors set to drive earnings into next gear, it's easy to understand the bullishness around Alcoa. Goldman Sachs upgraded Alcoa to a 'buy' and its price target of $52 indicates a more than 58% upside from current levels. We're in agreement with Goldman's optimism. Between China's commitment to cut surplus capacity in the steel sector and Trump's drive to push legislation that could action a $1 trillion investment in U.S. infrastructure there appear to be tailwinds developing for Alcoa. Alcoa is now a lean and agile enterprise, after having split last year into two entities. The company, which
Shares of Pfizer (PFE) are up nearly 1% today to $34.25 after Credit Suisse suggested the possibility that Pfizer could take over Bristol-Myers (BMY). A Barron's article mentioned that Credit Suisse believes there could be value creation of about $5 billion or $0.80 per share in synergies. To get these synergies, PFE would have to acquire BMY in an all-cash deal with a 25% premium, the article notes. BMY shares are down by nearly 4% in 2017 and are down nearly 10% over the past year. Bristol-Myers currently has a market cap of about $95 billion, which implies a 25% premium would value the company at roughly $120 billion, or around $72 per share. On the other hand, PFE shares have rallied by 5.5%
Nearly 34% of J.C. Penney's shares were sold short this week, up from about 26% ahead of the company unveiling a major restructuring plan on Feb. 24, according to Bloomberg data. To be sure, the market has good reason to position for J.C. Penney shares adding to their 34% loss so far this year. In the wake of a disappointing holiday season, J.C. Penney will close 138 stores by the second quarter.