The nation's largest privately-owned bank holding company and a major car rental chain said Thursday they will stop promotions aimed at National Rifle Association members. The Nebraska-based First National Bank of Omaha will not renew its contract to issue the group's NRA Visa Card, spokesman Kevin Langin said in a statement. "Customer feedback has caused us to review our relationship with the NRA," Langin said.
A call to boycott the National Rifle Association became the top trend on Twitter as users of the global social media platform demanded that a variety of companies sever ties with the lobbying group. The online furor comes a day after the NRA’s leaders attacked the media and Democrats, claiming the fallout from last week’s Florida high school massacre was being politicized. One user, with almost a quarter of a million followers, tagged a slew of brands in his post, including NRA partners Hertz Corp. and LifeLock Inc. “There are only 5 million NRA members but over 300 million of us! Businesses have a choice whose business they prefer,” tweeted another.
Shares of the Snapchat parent company sank 6.1 percent on Thursday, wiping out $1.3 billion in market value, on the heels of a tweet on Wednesday from Kylie Jenner, who said she doesn’t open the app anymore. Jenner’s tweet was followed late Thursday by one from Maybelline New York, asking its followers if it should stay on the Snapchat platform. The beauty-product brand owned by Paris-based L’Oreal SA said its “Snapchat views have dropped dramatically,” but it still wanted to connect with its followers.
Storage-drive makers Western Digital (WDC) and Seagate Technology (STX) are gaining on Friday, although Stifel's Kevin Cassidy says only one is a buy. Cassidy resumed coverage on both stocks today, with a Buy rating and $105 price target on Western Digital and a Hold rating and $49 target on Seagate. Together, he writes that the two have an 83% share of the $23.9 billion hard-disk-drive (HDD) market, and that HDDs will continue to play an important role in storage, especially in enterprise applications. He likes that both companies are innovative, though of the two, he prefers Western Digital. Cassidy highlights the company's vertically integrated supply in the NAND Flash market, which will benefit
Warren Buffett's firm Berkshire Hathaway is sitting on a record amount of cash. Berkshire Hathaway has never had this much cash, so naturally people have wide-ranging ideas for how the Warren Buffett-led juggernaut may use it. The bank arrives at that figure by factoring in the record $109 billion of cash Berkshire had on hand at the start of February, and combining it with the company's strong free cash flow.
Some people have to pay federal income taxes on their Social Security benefits. This usually happens only if you have other substantial income (such as wages, self-employment, interest, dividends and other taxable income that must be reported on your tax return) in addition to your benefits.
Credit scores have the power to impact your financial well-being. Credit card companies, banks and credit unions are making it easy for customers to view their credit scores on demand, and often for free. Here are 10 things you need to know about your credit score, according to experts.
United Technologies shares soared today after CEO Gregory Hayes said the sprawling industrial conglomerate might be worth more dead than alive. Hayes explained the parameters of the proposed execution, which turns out to be more along the lines of drawing and quartering, in a presentation he gave at the Barclays Industrial Select Conference in Miami. "Is UTC better off in three separate businesses?," Hayes asked.
What do you do with your money when you're one of the world's wealthiest individuals? Bill Gates has amassed a net worth upwards of $91 billion as of 2018. Gates earned the majority of his vast fortune as one of the founders of Microsoft Corporation (MSFT) , where he served as CEO, chairman, and chief software architect. Gates was the largest individual shareholder of Microsoft as well, until May, 2014 when he stepped down from the chairmanship. Here is where this billionaire stashes some of his money. Investments in Corporations While Gates can credit Microsoft for the bulk of his current wealth, his shares in the companyin MSFT make up just around 20% of his holdings today. The majority of
Feb.22 -- China’s government will take over Anbang Insurance Group Co. and prosecute founder Wu Xiaohui, cementing the downfall of a politically-connected dealmaker whose aggressive global expansion came to symbolize the financial overreach of China’s debt-laden conglomerates. Bloomberg's Tom Mackenzie reports on "Bloomberg Markets."
Art Cashin: 3-percent level on 10-Year is like touching the third rail 1 Hour Ago | 02:07 It could be a bad day for the markets once the yield on the benchmark 10-year Treasury hits 3 percent, closely followed trader Art Cashin told CNBC on Thursday. "That 3 percent level is both a target and a kind of resistance. Everybody knows it's like touching the third rail," said Cashin, UBS director of floor operations at the New York Stock Exchange. "The assumption is once they do it, all hell will break loose. So we'll wait and see." As of early Thursday, the 10-year yield was slightly lower, around 2.91 percent, down from Wednesday's four-year high of 2.95 percent. Wall Street fears returned Wednesday
More agri-business employers in California's ag-dependent Central Valley are getting served with immigration audits. The crackdown on ag-related employers follows immigration sweeps in other parts of the state, including employers in the L.A. and San Francisco areas. California agriculture industry already faces a farm labor shortage, but now it's facing added pressure due to a wave of employee audits ordered for large farms throughout the state's Central Valley.
Planning on retiring soon? These are the five ways you can tweak your retirement plans based on the new tax laws.
February 22, 2018 – Today, Zacks Investment Ideas feature highlights Features: Nasdaq 100 triple leveraged ETF TQQQ, NVIDIA NVDA, Alibaba BABA, Lam Research LRCX and Apple AAPL. See my article on how some of us played the fear and bought the lows last week in the Nasdaq 100 triple leveraged ETF ...
It has been about a month since the last earnings report for Verizon Communications Inc. VZ. Shares have lost about 11.6% in the past month, underperforming the market.Will the recent negative trend continue leading up to its next earnings release, or
Investors in Chesapeake Energy Corporation CHK need to pay close attention to the stock based on moves in the options market lately. What is Implied Volatility? Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
A German court might not reach a decision on Thursday after all on whether major cities can ban heavily polluting diesel cars, a ruling being closely watched by automakers and drivers of 15 million vehicles in Europe's largest car market. Judge Andreas Korbmacher told the court he was not sure whether the country's highest federal administrative court would rule on Thursday after German states had appealed against bans imposed by local courts in Stuttgart and Duesseldorf. Korbmacher suggested that the European Court of Justice might have to consider the issue of whether driving bans are permissible despite the lack of a national enabling framework.
Trading bitcoin, the world’s largest cryptocurrency by market capitalization, could become cheaper and faster, thanks to new software employed by two major exchanges for buying and selling the digital currency. (See also: Be Wary of Cryptocurrencies: Ethereum Founder.) This week, both Coinbase and Bitfinex announced plans to adopt a software called Segregated Witness, or SegWit, which bitcoin enthusiasts and the later exchange says should reduce fees by as much as 20% and reduce transaction wait times. Bitcoin bears have often pointed to the cryptocurrency’s long transaction times, often more than 24 hours, as barring it from becoming a viable means of means of payment for goods and services.
Will Wall Street ever let go of guns? Now, with the nation’s emotions raw over the killings in Florida last week, evidence is mounting that investors may be rethinking their long, fraught relationship with the firearms industry. On Thursday, the day the head of the National Rifle Association issued a searing rebuttal to calls for stricter gun control, the nation’s largest privately owned bank announced it would stop issuing NRA-sponsored credit cards.
Dropbox Inc., the file-sharing company that’s been privately valued at $10 billion, filed for a U.S. initial public offering, saying it was at scale and capable of moving fast. The company filed with an offering size of $500 million, according to a filing with the U.S. Securities and Exchange Commission. That amount is a placeholder and is likely to change. The company plans to use the proceeds to pay down debt and for general corporate purposes. Dropbox, which was valued at $10 billion in its 2014 funding round, would be one of the biggest U.S. enterprise technology companies to list domestically in several years. First Data Corp. went public at a market value of about $14 billion in 2015 --
Companies may be starting to rethink their ties to the National Rifle Association in the wake of last week’s massacre at a Florida high school, with a major bank, insurer and car-rental giant announcing they were dropping partnership programs with the NRA. First National Bank of Omaha, the nation’s largest privately owned bank, said Thursday it will not renew its contract with the NRA for a branded Visa card. “Customer feedback has caused us to review our relationship with the NRA,” a bank spokesman said in a statement. “As a result, First National Bank of Omaha will not renew its contract with the National Rifle Association to issue the NRA Visa Card.” The bank had a relationship with the NRA
Shares of Roku (ROKU), the streaming video pioneer that went public in September, continue to plunge following a disappointing Q1 revenue forecast last night. The stock is down $8.36, or over 16%, at $42.74, falling farther since the open of trading, though a little bit better than the 22% decline at the worst point last night. Although Roku's chi ef financial officer, Steve Louden, told Barron’s the company feels just fine about the way things are going, and although many are impressed with growth -- especially the 129% leap in revenue from the company’s “platform” business — there are those who are picking apart individual metrics, and see less desirable trends. There are no ratings changes
First National Bank of Omaha plans to drop its co-brand credit-card agreement with the National Rifle Association after hearing from customers in the wake of the latest mass shootings. “Customer feedback has caused us to review our relationship with the NRA,” Kevin Langin, a spokesman for the Nebraska bank, said Thursday in an emailed statement, declining further comment. “As a result, First National Bank of Omaha will not renew its contract with the National Rifle Association to issue the NRA Visa Card.” The debate over gun control is back in the public spotlight after the massacre of 17 people at a high school last week in Florida. President Donald Trump on Thursday offered a full-throated
In a bid to ensure availability of specialty brand drugs Express Scripts Holding Company ESRX and Walgreens Boots Alliance WBA recently announced plans to expand their existing group purchasing efforts.Since biosimilars have the potential to lower production
Gold swung higher on Thursday, snapping four sessions of losses as the dollar surrendered early gains, though the metal remained on track for its biggest weekly decline this year. The dollar had risen after minutes from the last U.S. Federal Reserve meeting showed policymakers backed further interest rate increases but later eased into negative territory against the euro. U.S. gold futures were flat at $1,332.10.