ServiceNow stock plunged late Tuesday on the sudden exit of Chief Executive John Donahoe, who will become the CEO of Nike. ServiceNow tumbled more than 10% at one point and was off 6.1% to 214.37 during extended trading on the stock market today. In Tuesday's regular session, ServiceNow stock fell 5.2%.
Platform generates revenue from subscriptions and advertising, with advertising having a lot of long-term potential for sustainable growth. The company offers ads within the videos, on its screen saver, and on its home screen, providing various touch points to the viewers. Taking into account in the last quarter the Platform segment of Roku represented over two-thirds of overall sales, and advertising is the largest part of that segment, it's apparent that this is a part of the company that has a lot of legs to it.
Semiconductor equipment maker Teradyne Tuesday beat Wall Street's sales and earnings targets for the third quarter. The Teradyne earnings news sent TER stock higher in extended trading. The North Reading, Mass.
Boeing on Tuesday fired Kevin McAllister as president and CEO of Boeing Commercial Airplanes, the jet maker's unit that produces the 737 Max. McAllister was immediately replaced by longtime Boeing executive Stan Deal, who's led the launch of the Boeing General Services unit over the past two years. "Stan brings extensive operational experience at commercial airplanes and trusted relationships with our airline customers and industry partners," Boeing President and CEO Dennis Muilenburg said in a statement. McAllister's ouster as the head of the Renton-headquartered Boeing Commercial Airplanes (BCA) unit comes after less than three years on the job and a day after Boeing's board of directors met in Texas.
Kevin Plank, Under Armour Inc. founder and outgoing chief executive officer, and Patrick Frisk, president, chief operating officer and incoming chief executive officer, discuss the changing of the guard at the company with Bloomberg's Caroline Hyde on "Bloomberg Markets."
The Australian dollar has gone back and forth during the trading session on Tuesday, testing the 50% Fibonacci retracement level again, which was also the recent resistance barrier that the market paid attention to. At this point, you should also consider that the market has been in a major downtrend, and therefore it's likely that the market should continue to favor the downtrend given enough time. Beyond that, the market has also favored the downtrend due to massive amounts of negativity around the world, including the US/China trade situation, which of course the Australian dollar will be very sensitive to as Australia is a major supplier of commodities for the mainland China factories.
A happy, healthy retirement is most everyone's dream. According to Northwestern Mutual's Planning & Progress Study 2019, only 16% of the adults surveyed had saved $200,000 or more for retirement. Add to those sobering statistics of under-saving is the fact that most Americans have unrealistic expectations about their standard of living in retirement.
Fourth-quarter earnings will be 91 cents a share to $1.09 a share on revenue of $3.07 billion to $3.33 billion, the Dallas-based company said Tuesday in a statement. On average, analysts predicted profit of $1.28 a share and sales of $3.59 billion, according to data compiled by Bloomberg. At the mid-point, Texas Instruments' projections represents a 14% decline in revenue from a year earlier.
In a stunning reversal, Biogen stock rocketed Tuesday after the company announced it will ask U.S. regulators to approve an Alzheimer's treatment previously thought to have failed in Phase 3 studies. A broader analysis of the Phase 3 study dubbed Emerge showed Biogen's experimental drug, aducanumab, slowed the clinical decline in patients with early Alzheimer's disease, the company said. Analysis of patients on the high dose of aducanumab in another Phase 3 study called Engage backs this up.
In the family of financial planning products, the Roth IRA or 401(k) sometimes looks like the cool younger brother of traditional retirement accounts. Indeed, the Roth version, first introduced in 1998, offers a number of attractive features that its standard siblings lack: the absence of required minimum distributions (RMDs), the flexibility to withdraw money prior to retirement without penalties, and the ability to make contributions past the age of 70½. A Roth indeed makes sense at certain points in your life.
After erasing more than $30 billion in projected shareholder value, Adam Neumann could walk away from the We Company with a windfall of as much as $1.7 billion, according to a report in The Wall Street Journal. This is how the company will end, not with the pop of a successful public offering, but with a whimper from defeated investors probably tired after the months-long saga of trying to make sense of how a clever real estate plan ballooned into one of the greatest swindles in venture capital history. Already ousted as the company's chief executive, Neumann controlled shares of the company that gave him what amounted to significant control even after his removal.
Buy and hold has been an investment strategy used for centuries. Unfortunately, the rise of high-frequency trading (HFT), greater volatility in the markets and the recession of 2008 seem to have stripped buy and hold of its allure. While the market's new normal does not favor those who do not keep close tabs on their investments, strategic buy and hold is still a viable strategy that can be used with success.
Snap (SNAP) reported quarterly results on Tuesday that topped consensus expectations, as the social media company sustained improvements in user growth and monetization. However, its shares fluctuated and plunged in after-hours trading by as much as 13% before paring some losses, as investors digested its mixed fourth-quarter guidance. Here were the main numbers from the report, versus Bloomberg-compiled consensus estimates: Revenue: $446 million vs. $437.9 million expected and $297.7 million YOY Adjusted loss per share: 4 cents vs. 5 cents expected and 12 cents YOY Daily active users: 210 million vs. 206.1 million expected and 186 million YOY Snap, the parent company of the disappearing pho...
SoftBank Group Corp.'s proposed rescue package of WeWork involves Neumann selling about $1 billion of stock and getting a $185 million consulting fee from the Japanese firm even as the deal values the struggling office-sharing company at $8 billion, according to people familiar with the transaction. Neumann will leave the company's board though he still can assign two seats. On these terms, Neumann's net worth would be at least $1 billion, according to calculations by the Bloomberg Billionaires Index.
The company said it expects fourth-quarter earnings of 91 cents to $1.09 a share on revenue of $3.07 billion to $3.33 billion. Analysts surveyed by FactSet expect $1.28 a share on revenue of $3.59 billion. The company reported third-quarter net income of $1.43 billion, or $1.49 a share, compared with $1.57 billion, or $1.58 a share, in the year-ago period.
The solar energy industry has been on fire this year, with that group gaining a collective 30% year to date as measured by the Invesco Solar ETF, TAN. Jason Bloom, Senior Director of Global Macro Strategy at Invesco, discusses the ins and outs of the hot group and why solar stocks could be positioned for an even bigger move.
Dividends offer the steady income stream that investors want, while the top dividend stocks are available at a relative discount to market prices. According to Cole Hunter, a top strategist with Goldman Sachs, “The Dividend Growth basket … now trades at nearly the largest discount to the median S&P 500 stock since 2006. He has assembled a list of stocks which he expects to both beat the S&P's average dividend yield by a wide margin, and extend that margin through sustained dividend growth in the coming three years.
Mark Cabana was warning of the emerging strains in short-term U.S. money markets as early as last year, well before daily funding markets seized up last month and forced the Federal Reserve to dust off tools it hadn't used since the 2008 financial crisis. In the end, the troubles in the repo market, a roughly $2 trillion short-term lending market that is vital to financing on Wall Street, comes down to how the U.S. central bank briefly lost its grip on its policy interest rate in September, said the head of U.S. short rates strategy for Bank of America Merrill Lynch in an interview with MarketWatch on Monday. Cabana said the central bank has been working hard to avoid further funding stresses, but believes the Fed could do more to help assuage the frayed nerves of market participants after September's repo market crisis when overnight lending rates surged to a peak of 10%, according to some estimates.
The low prices have pushed down stock prices in the energy sector, which has paradoxically opened an opportunity for income investors. The energy sector's production companies benefit from dealing in commodities – oil and gas – that are always in demand. Low share prices are attractive to investors, and the companies have been following two strategies to boost their shares.
The downside: Annuities are rather illiquid. "You sometimes have to pay a [tax] penalty if you withdraw the funds prior to age 59½ or if you don't take them as an income stream [after retirement],” cautions Klein. Even if you avoid the penalty, by moving the funds directly to another annuity product, you still probably will be subject to the insurance company's surrender charges.
Sweeping vistas and proximity to fellow rich and famous folks are some reasons why billionaires live where they do, and now a new study says estate taxes are a pretty important factor as well. Billionaires tend to move out of states with estate taxes, according to researchers at the University of California, Berkeley and the Federal Reserve Bank of San Francisco. The federal government and state governments use estate taxes to tax the transfer of wealth and property from the deceased to their heirs.
Days after Oracle Corp. co-CEO Mark Hurd's death while on medical leave, the Redwood City-based company hasn't yet named a co-CEO for Safra Catz — but two analysts told the Silicon Valley Business Journal they could see a particular high-profile competitor filling the role. Constellation Research founder Ray Wang suggested Bill McDermott, who stepped down as CEO of Oracle rival SAP this month after 17 years with the company. French Caldwell, CFO of the Analyst Syndicate, said McDermott would be “killer” as a co-CEO of Oracle.
Jim Cramer said on CNBC's "Mad Money Lightning Round" he would be careful with Cloudflare Inc (NYSE: NET) because it traded sharply lower, but he likes the idea. Cramer likes Advanced Micro Devices, Inc. NASDAQ: AMD).
About 2,000 employees who once worked at GM transmission plants near Baltimore and Detroit and a small-car assembly plant in Lordstown, Ohio, will repeat that message this week as 49,000 union members vote on the new four-year deal. Approval could end the walkout that has crippled GM's production and cost the company an estimated $2 billion. Most of the workers who lost their jobs at the three sites are scattered across the country after transferring to other GM factories, so they have a presence at just about all of the automaker's plants.
Zoom Video Communications Inc. and ServiceNow fell more than 5% on Tuesday, each extending losing streaks to a fifth consecutive day. The group has been under renewed pressure since last week, despite an earnings report from Atlassian Corp. that was praised by analysts. Both ServiceNow and Microsoft are due to report Wednesday afternoon.