Oil output in Iran and Venezuela, under U.S. sanctions, has fallen by more than that of other OPEC members party to a supply cut pact, suggesting President Trump's policies have had a greater impact on oil production than OPEC itself. The sanctions have deepened the impact of supply cuts agreed by the Organization of the Petroleum Exporting Countries, which is expected at meetings with its allies next Monday and Tuesday in Vienna to renew the accord. OPEC, Russia and other non-members, an alliance known as OPEC+, agreed in December to reduce supply by 1.2 million barrels per day from Jan. 1.
Dozens of Yellow Cab owner-operators marched on City Hall Monday, when some offered tearful testimony describing how their belief in the American Dream was shattered by predatory lenders and city policies encouraging an inflated market for licensing medallions that burst with the unregulated growth of the electronic-hail industry. “I think about taking my life -- I really do -- and the only thing that stops me is my kids,” Mouhamadou Aliyu, a West African father of four who's been in New York since 1993, said in testimony to the council. At least nine drivers have killed themselves since late 2017, including one who took a shotgun to his head near City Hall last year, according to Bhairavi Desai, a political organizer who leads the Taxi Worker Alliance.
Shares of Tesla Inc fell 1.3% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter and may miss its quarterly target. Chief Executive Officer Elon Musk had said last month that the company was on course to deliver a record number of cars in the quarter, beating the 90,700 it sent to customers in the final quarter of last year. Tesla did not immediately respond to a request for comment.
Adobe fell hard, dropping back below its buy point after breaking out on earnings last week. Recent breakouts are failing.
Micron Technology is Real Money's Stock of the Day. Shares of the chip maker are up over 10% this morning after reporting a top and bottom line beat on earnings yesterday. Real Money Reporter Kevin Curran breaks down what investors need to know.
Indian conglomerate Larsen and Toubro Ltd (L&T) has acquired a controlling stake in IT services company Mindtree Ltd, CNBC TV18 channel reported citing sources. The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying that the plan was of no value for the firm or its shareholders. L&T's hostile bid to acquire a controlling stake in Mindtree is the first in India's software services industry and is rare in India's corporate sector, where unsolicited suitors are usually deterred by founders with large shareholding.
Federal Reserve Chairman Jerome Powell delivers remarks about the state of the U.S. economy and Fed monetary policy at the Council on Foreign Relations in New York.
Dear Russ, Some people disagree with this stance, but my answer is no. I understand how important it is to take the match in a situation like that, but one of the things I've learned over the years is that personal finance is 80 percent behavior and only 20 percent head knowledge. In the short term, the power of focusing on changing your behavior and working hard to pay off debt will supersede the mathematics involved where your company match is concerned.
Barnes & Noble Education, Inc Common Stock (NYSE: BNED) announces its next round of earnings this Tuesday, June 25. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Wall Street expects an EPS loss of 2 cents and sales around $346.05 million.
California Gov. Gavin Newsom took direct aim at Tennessee in a speech to the Bay Area business community last week — and for good reason. Tennessee is often lauded — and more importantly, increasingly selected — by California companies looking to expand operations or relocate their corporate headquarters altogether. The Volunteer State was selected today by San Francisco bookkeeping tech startup Pilot.com for a new division headquarters, which will create 450 jobs in Nashville.
U.S. President Donald Trump on Wednesday suggested the European Union was out of line bringing lawsuits against U.S. technology companies like Facebook and Alphabet Inc's Google , saying legal action against those firms should be the purview of the United States. "She hates the United States perhaps worse than any person I've ever met," Trump said in an interview with Fox Business Network in an apparent reference to EU competition commissioner Margrethe Vestager. "What she does to our country.
JPMorgan Chase (JPM) CEO Jamie Dimon says student lending in the U.S. has been "a disgrace" and it's "hurting America." "Is there an issue with student debt? There is, but you've got to stop the creation of bad debt," Dimon told Yahoo Finance's Andy Serwer in an exclusive interview at the unveiling of JPMorgan's new flagship bank branch in Midtown Manhattan.
Take a look at Chevron earnings and the CVX stock chart. Chevron Earnings, Revenue Growth Falter Earnings have been on the rise since 2017 as oil prices started recovering. Chevron earnings have soared an average 102% over the last three years, according to IBD's Stock Checkup.
The majority of U.S. customers are eager to purchase an “American made” vehicle, but the bulk of the top 15 cars that contribute the most to the economy are actually produced by foreign automakers, according to a new ranking released on Tuesday. The most American-made vehicle in 2019, which includes criteria such as the number of factory jobs and where parts are sourced, was the Jeep Cherokee, according to Cars.com annual ranking. While it is built in Belvidere, Illinois, Jeep is owned by Italian-American carmaker Fiat Chrysler.
Memphis-based FedEx Corp. filed a complaint June 24 in the United States District Court for the District of Columbia, seeking an injunction against the U.S. Department of Commerce for package-shipping regulations contained in the the Export Administration Regulations (EAR). Representing FedEx are attorneys Maurice A. Bellan, Kenneth P. Quinn, and Kimberly F. Rich, all with Baker & McKenzie LLP in Washington, D.C. In the filing, FedEx says, "The credible threat of civil and criminal liability places FedEx between a rock and a hard place — absent the availability of review, FedEx must either forgo lawful activity because of its well-founded fear of prosecution, or willfully violate the Export Controls, thereby subjecting itself to criminal prosecution and punishment." So, on one side, there's the "rock:" Compliance with regulations.
Americans who are nearing retirement age have about $200,000 in their 401(k) accounts on average, a new survey found. According to Vanguard's “How America Saves 2019” report, published this month, the average American worker aged 65 and older has about $192,877 in their 401(k) and a median balance of around $58,035. While their median balance is slightly below that age group as well — by about $3,700, it's still considerable since many start tapping into their 401(k) starting at 65.
"We are pleased with the continued strong performance of our IT&S segment, which was driven by solid product sales in North America and very strong service sales in the Middle East and North Sea," said CEO Randy Baker. Actuant has underperformed the S&P 500 so far this year, rising 15.1% vs. a 16.4% gain for the wider market. "Our results this quarter reflect the solid execution of our growth and profitability plans resulting from the hard work of our teams around the world.
The food giant beat on profits last quarter but sales came up short, especially in North America. The CEO says the company has plans in place to accelerate growth into the rest of the year. Amazon (AMZN) won't be the only place to find a deal on July 15 and 16.
Tesla Inc. could be on the verge of a quarterly record for vehicle deliveries, though the electric carmaker will need to go “all out” in the last few days of the month, Chief Executive Officer Elon Musk wrote in an internal memo. There is a lot of speculation regarding our vehicle deliveries this quarter,” Musk told employees in an email Tuesday.
Demand for Tesla cars is one of the major concerns of investors after the company reported slack demand in the first quarter against the backdrop of U.S.-China trade tensions. Tesla had reported a 31% fall in first-quarter deliveries and had warned that profit would be delayed until the latter half of the year. Three years ago, Hochholdinger was hired as Tesla's vice president of vehicle production from Volkswagen AG. Hochholdinger spent 22 years at Audi, Volkswagen's flagship premium brand, where he worked across the entire production chain.
Roku Inc (NASDAQ: ROKU) lost nearly 7% Tuesday after investors and trades circulated an InvestorPlace article discussing the streaming video company's tariff exposure. Roku was among a handful of companies that made the case against tariffs in Washington, D.C., InvestorPlace's Will Healy wrote. The streaming video company has a stake in the tariff debate, as its growth prospects could be hampered or Roku may need to explore manufacturing its products in other countries, according to the story.
U.S. President Donald Trump on Wednesday suggested the European Union was out of line bringing lawsuits against U.S. technology companies like Facebook and Alphabet Inc's Google, saying legal action against those firms should be the purview of the United States. "She hates the United States perhaps worse than any person I've ever met," Trump said in an interview with Fox Business Network in an apparent reference to EU competition commissioner Margrethe Vestager. "What she does to our country.
Eldorado Resorts is buying Caesars Entertainment Corp. for $8.5 billion. Activist investor Carl Icahn is Caesars' biggest shareholder.
Chipotle Mexican Grill is the IBD Stock of The Day. The stock rose modestly on a bad day, not far from a 749.35 buy point. The consolidation is messy, but the relative strength line is high.
Sandip Bhagat, chief investment officer at Whittier Trust, discusses the likelihood of a Fed cut in July and how U.S.-China trade negotiations are impacting markets. He speaks on “Bloomberg Daybreak: Asia.