Reuters•9 minutes agoTrump rails against high oil prices, OPEC pushes back
WASHINGTON/DUBAI (Reuters) - U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices after a year-plus pact that has slashed global crude inventories, drawing rebukes from oil-producing countries as prices dipped following his remarks. "Looks like OPEC is at it again. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.
- InvestorPlace•22 hours ago
Walmart Dress Code to Get a Lot More Flexible
Walmart is testing new dress codes in a small number of U.S. stores with the hopes that this more relaxed environment will help to reel in and retain staff in an increasingly tighter labor market. This means that workers will be allowed to wear shirts of any solid color, which marks a shift from its previous option of only having blue or white shirts, according to an employee manual obtained by Bloomberg News. Walmart adds that visible facial tattoos will be forbidden for those hired after April 14, according to the manual.
InvestorPlace•5 hours agoTrade of the Day: Be Careful in Advanced Micro Devices, Inc. After Earnings
Semiconductor stocks as a group had a difficult day on Thursday as a broad-based sell-off in this space pushed many of these stocks lower. In my eye however the next major catalyst are the upcoming earnings reports. For Advanced Micro Devices, Inc. (NASDAQ:AMD) the earnings report will hit on April 25 after the close of trading for the day.
- CNBC Videos•yesterday
Kraken cryptocurrency exchange says it will not comply wi...
Kraken co-founder and CEO Jesse Powell says the cryptocurrency exchange will not comply with the New York attorney general's request for information.
- InvestorPlace•yesterday
Activision Blizzard, Inc. Will Finish What ‘Fortnite’ Started
On paper, most analysts will agree that Activision Blizzard, Inc. (NASDAQ:ATVI) is enjoying a solid start to this year. Against the January opener, ATVI stock has gained nearly 9%. Despite Activision’s immense reputation in delivering the most compelling first-person shooter games, another company has unexpectedly taken its throne.
- FX Empire•yesterday
Bitcoin Loses Out to Bitcoin Cash – Is it the Beginning of the End?
The Bitcoin bulls didn’t get the memo on Wednesday, with Bitcoin only managing a 3.56% rise on day, partially reversing Monday and Tuesday’s losses, to end the day at $8,169.5. A morning rally saw Bitcoin break out from the 23.6% FIB Retracement Level of $7,996.57 to hit a morning $8,168.8 high, breaking through the first major support level of $8,098.87 before seeing a pullback to an early afternoon $7,907.4 to call on buyer support at the 23.6% FIB Retracement Level of $7,996.57. A late afternoon rally saw Bitcoin hit an intraday high $8,237.2, testing the day’s 1st major resistance level for a 2nd time and this time managing to hold on through to the day’s end.
- Fortune•yesterday
Dead Carcasses and Rodents Found at Farm Behind Massive Salmonella Egg Recall
Unsanitary conditions were found during multiple inspections of a Rose Acre Farms facility in Hyde County, N.C., that allowed for the “proliferation and spread of filth and pathogens throughout the facility that could cause the contamination of egg processing equipment and eggs,” according to a report from the U.S. Food and Drug Administration detailing inspections. A review of the farm’s pest control records flagged an ongoing rodent infestation, with rodents, dead carcasses and baby mice observed, along with workers who weren’t following proper sanitary practices.
- Fortune•yesterday
Should We Call It a Comeback? Former Yahoo CEO Marissa Mayer Is Launching a Tech Incubator
Former Yahoo Chief Executive Officer Marissa Mayer is starting a technology business incubator, Lumi Labs, with longtime colleague Enrique Muñoz Torres. The venture will focus on consumer media and artificial intelligence, according to the company’
- Zacks•22 hours ago
Are Cigarettes Finally Dead? Phillip Morris Plunges
Other industry players are falling today as well on the news as investors ruminate on an uncertain future for tobacco. U.S. Marlboro producer Altria (MO) is down over 7% and British American Tobacco (BTI) – owner of R.J Reynolds – is down almost 6%. Philip Morris has missed the Zacks Composite Earnings estimate in each of the last 4 quarters due to regulation, increased taxation and an overall decline in demand for tobacco products.
- Bloomberg•2 days ago
Crypto Founder Tweets From Beach, Investors Fear for Their Cash
Investors in cryptocurrency startup Savedroid are wondering whether the founder ran off with their money, the site has been hacked, or if it’s all part of an elaborate joke. A South Park meme with big, block letters saying "And It’s Gone," was the only thing on the company’s website on Wednesday.
- InvestorPlace•yesterday
A Tech Giant No More: IBM Is Too Small to Compete in the Cloud Era
Caught between obligations to shareholders and employees, IBM (NYSE:IBM) was unable to commit to the $1 billion per quarter needed to compete in cloud early in this decade. IBM was not the only company to make this historic mistake.
- Bloomberg•yesterday
CEO Awarded $60 Million to Lead Linn Energy Firm Past Bankruptcy
The same day Linn Energy Inc. exited bankruptcy, it awarded Chief Executive Officer Mark Ellis a $60 million compensation package, more than three times the amount Exxon Mobil Corp. paid its CEO.Ellis’s pay included an equity grant worth $58 million,
InvestorPlace•5 hours ago5 Stock Trades to Make First Thing Friday Morning
After a few strong days in the stock market, equities are coming under pressure Thursday. Earnings results from Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) and Lam Research Corporation (NASDAQ:LRCX) are not inspiring much confidence in the semiconductor space, weighing on names like Apple Inc. (NASDAQ:AAPL) and the rest of tech. With that in mind, let’s see what stock trades are setting up for Friday.
- BBC News•4 hours ago
German court rejects ad-block challenge
Germany's supreme court has rejected a legal case that sought to stop people using the popular Adblock Plus program that removes ads from websites. The lawsuit was started three years ago by German publishing giant Axel Springer. It alleged that the way Adblock Plus stopped people seeing adverts on its sites amounted to unfair competition. Axel Springer said it would continue its legal challenge by taking the issue to Germany's Constitutional Court. Free speech Adblock Plus is widely used to stop intrusive pop-up adverts and limit tracking by websites of where people go online. Adblock Plus creator Eyeo, which is based in Cologne, claims the PC version of its software has been downloaded more
- TheStreet.com•12 hours ago
GE Investors Brace for Disaster, Will Settle for Disappointment
, the worst-performing Dow stock in 2017, may present investors with disastrous first-quarter results when it reports earnings on Friday, April 20, before the opening bell, according to analyst expectations. Weak performance in its core power unit and legacy accounting woes related to its former finance unit leave CEO John Flannery tasked with the tall order of redirecting investor attention away from a hailstorm of troubles. The company may have to reduce its outlook for profit in 2018 just two months after the company's new chief financial officer said earnings would be at the low end of expectations.
- barrons.com•2 hours ago
AT&T Streaming Service May Give Other Carriers Hang-Ups
Shares of AT&T (T) are higher on news it may soon launch a low-cost streaming service. A report from The Wall Street Journal details the telecom's plans to launch a $15 a month "skinny bundle" service without sports, according to testimony from its CEO during the antitrust case for its proposed acquisition of Time Warner (TWX). That would make AT&T Watch, expected to hit the market in the coming weeks, one of the lowest prices for a nationwide streaming live TV plan. Wells Fargo's Jennifer Fritzsche writes that the move shows AT&T is already making post-court plans. The service would be available to any customer--so a Verizon Communications (VZ) wireless subscriber can sign up--but it's free
- CNBC Videos•6 hours ago
GE posts mixed quarter, reaffirms 2018 earnings guidance
CNBC's Morgan Brennan sifts through General Electric's quarterly results.
Reuters•25 minutes agoWall Street hit by tech, oil weakness
By Sruthi Shankar (Reuters) - U.S. stock indexes fell on Friday, with Apple leading declines in the technology sector and as energy companies took a hit from lower oil prices after President Donald Trump's criticism on OPEC. Apple fell 3.4 percent
- Zacks•5 hours ago
Weatherford (WFT) to Report Q1 Earnings: What's in the Cards?
Weatherford International Ltd. WFT is expected to report first-quarter 2018 earnings on Apr 24, after the closing bell.In the last reported quarter, the leading oilfield services company delivered a negative earnings surprise of 57.1%. Weatherford posted
- Bloomberg•17 hours ago
AT&T's CEO Stephenson Pitches Time Warner Deal to Judge
AT&T Inc. Chief Executive Officer Randall Stephenson made his grandest pitch yet for the company’s planned takeover of Time Warner Inc., describing the $85 billion deal as a crucial step to the judge who holds the deal’s fate in his hands. Stephenson, who honed his defense of the acquisition by selling it first to his board of directors and then to shareholders, testified Thursday in federal court in Washington that the merger will help the combined company compete with streaming rivals such as Netflix Inc. and Amazon.com Inc. The AT&T CEO began his testimony by describing his 35-year history at the company.
- CNBC.com•9 hours ago
Saudi oil minister warns: Don't become complacent by the dramatic rise in oil prices
Saudi oil minister: Producers should be patient, not jump the gun 4 Hours Ago | 02:34 OPEC kingpin Saudi Arabia warned oil traders on Friday that a dramatic upswing in crude futures was little reason to become complacent. Speaking to reporters in Jeddah, Saudi Arabia, the kingdom's Energy Minister, Khalid al-Falih, told CNBC's Steve Sedgwick: "We have to be patient. We shouldn't jump the gun, we shouldn't be complacent and listen to some of the noise such as 'mission accomplished'. I think we still have work ahead of us." OPEC, Russia and several other allied producers have spearheaded an ongoing effort to try to clear a global supply overhang and prop up prices. The agreement, which came
- Bloomberg•yesterday
Philip Morris Plunges the Most in a Decade on Slump in Cigarettes
Big tobacco is still looking for a savior, if Philip Morris International Inc. is any guide. Shares in the cigarette giant plunged as much as 18 percent after its latest earnings report showed that $4.5 billion spent on four new products are failing to win over new customers. Sales growth of the iQos, a device that heats a tobacco plug without setting it on fire, has been slowing after initial success in Japan. Philip Morris, which sells Marlboros outside the U.S., reported revenue excluding excise taxes of $6.9 billion, less than the $7.03 billion projected by analysts in a Bloomberg survey. The share decline, to as low as $83.50, was the biggest since the company split from Altria Inc. in 2008.
- Zacks•yesterday
Philip Morris (PM) Tops Q1 Earnings, Ups '18 Earnings View
Philip Morris International Inc. PM, one of the largest tobacco companies, came out with first-quarter 2018 results, wherein adjusted earnings of $1.00 surpassed the Zacks Consensus Estimate of 88 cents and also surged 2% from the prior-year quarter.Earnings
The Street•5 hours agoHere's Randall Stephenson's Vision for a Combined AT&T-Time Warner
AT&T Inc. (T) Chairman and CEO Randall Stephenson echoed the sentiments of other defense witnesses in the Department of Justice lawsuit to block the telecom's purchase of Time Warner Inc. (TWX) , in testimony on Thursday. "On its face, the premise is absurd," Stephenson said of the government's theory that AT&T would inflate the price of Turner content to benefit its satellite TV provider DirecTV. A day earlier, Time Warner Chairman and CEO Jeff Bewkes had called the proposal "ridiculous." Stephenson outlined the new tech, products and corporate structures that AT&T envisions, which would allow it to improve advertising technology and lower pay-TV costs, before U.S. District Judge Richard Leon
- Zacks•yesterday
Should You Buy General Electric (GE) Stock Ahead of Earnings?
Shares of General Electric GE surged nearly 2% in early morning trading Thursday, just one day before the embattled conglomerate is scheduled to release its latest quarterly earnings report. Investors will want to pay close attention to GE’s results on Friday morning as the iconic brand looks to rebuild confidence from the market. Earnings growth is expected to be strong throughout the Q1 report season, but the tone surrounding General Electric is concern—not optimism.
