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.
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
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.
When Hewlett Packard Enterprise Co. reports earnings Thursday afternoon, there will be at least one big change. This week’s conference call will be the first to feature Chief Executive Antonio Neri, who took over the top spot in early February following the departure of Hewlett-Packard veteran Meg Whitman. HPE HPE, +0.89% shares dropped 7.2% the day after the company’s last earnings report, which brought a disappointing outlook as well as the news of Whitman’s plans to step down. Thursday will mark an early opportunity for Neri to outline his vision for the company, highlight progress on the company’s goal of turning around the business, and reassure investors of a smooth transition. Investors
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 ...
Airplane maker The Boeing Co. is facing heat these days for its determined stance in dealing with suppliers. Despite record orders, Boeing is getting some criticism for an initiative calling for some suppliers to cut costs, according to Bloomberg. Boeing’s Partnering for Success initiative aims to streamline the manufacturer’s supplier chain. And based on financial returns — with its shares doubling since the start of 2017 — Boeing can argue its plan is working. However, Bloomberg cites suppliers who claim Boeing is seeking 10 percent price cuts for their products. Boeing is coming off a bustling 2017. Boeing secured orders worth more than $90 billion in November alone. Among the highlights
CFO Jamie Miller presented at two conferences Wednesday in the greater Miami area. At the corporate level GE has gone from a cash generator to a cash burner in the past two years, and that, more than any other factor, has destroyed value for GE shareholders.
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.
Feb.22 -- Snap Inc.’s shares sank as much as 7.2 percent Thursday, wiping out $1.3 billion in market value, on the heels of a tweet from Kylie Jenner, who said she doesn’t open the app anymore. Bloomberg's Taylor Riggs takes a look at the shares on "Bloomberg Markets."
Chris Ratcliffe | Bloomberg | Getty Images A glitch at a Japanese cryptocurrency exchange allowed some users to buy digital currencies for free, heightening concerns over the security of such trading platforms. Zaif, which is run by Tech Bureau Corp, and registered by the government, said that an error occurred with its price calculation system, allowing seven users to buy some digital coins for zero yen. The exchange did not say which cryptocurrencies those were. Six of the transactions have been voided. Zaif is trying to rectify the issue with the seventh customer who attempted to transfer the bitcoin from the exchange, a spokesperson told Reuters. The issue was discovered on February 16 and
Boeing Co (NYSE: BA) is on an upswing, as a perfect storm of trends, including strong aircraft demand, a cash boost from tax reform and a potential benefit from increased defense spending are all working in the favor of the Chicago-based aviation giant. With a new aircraft fleet on tap this year (the 737 Max 9), and a fresh financial tailwind at its back for the nation's No. 1 aircraft manufacturer, the question is this: Just how high can Boeing stock fly? Each area is currently contributing to company growth, as Boeing reported a backlog of orders totaling $488 billion in the fourth quarter of 2017.
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.
U.S. Special Counsel Robert Mueller has filed new charges in the case against ex-Trump campaign chairman Paul Manafort and his former deputy, Rick Gates, according to a sealed court filing. The filing in Washington federal court doesn’t specify the nature of the charges, or whether it expanded the case against both men or added others. Earlier this week, Mueller’s office announced a guilty plea against a London-based lawyer who worked with Manafort and Gates on a report that largely defended the conviction of a former Ukrainian prime minister, despite widespread criticism that it was politically motivated. In that document opposing more lenient bail terms, prosecutors said Manafort engaged in a “series of bank frauds and bank fraud conspiracies’’ not previously charged.
Billionaire David Einhorn, the head of Greenlight Capital, disclosed last week in his company's quarterly 13F report that he established 19 new positions during the fourth quarter of 2017. One of the most significant purchases that he made was in J.C. Penney (JCP), the retail giant which has become "moderately distressed," according to a report by Guru Focus. At a time when many analysts showed interest in retail, Einhorn helped to solidify the trend. Why might he have decided to focus his efforts on JCP stock in the past quarter? Nearly 6.4 Million Shares of JCP Greenlight Capital acquired close to 6.4 million shares of J.C. Penney stock in the final three months of 2017. The average purchase
Just before the opening bell, UBS Director of Floor Operations Art Cashin discusses the state of the markets after yesterday's Fed minutes.
Founded in 1916, just a few years after the Wright brothers' famous Kitty Hawk flight, The Boeing Company ( BA) has grown to become one of the largest aircraft manufacturers in the world and the most well-known name in the aerospace sector and defense industry in the United States. Boeing Capital Corporation supports all three divisions by providing financing for Boeing customers. Boeing's chief financial officer and executive vice president of Enterprise Performance & Strategy, Gregory Smith, is the largest insider shareholder of the company.
Shares of General Electric Co's Baker Hughes rose on Wednesday after the parent company said it would not shed its holdings in the oilfield services business before the expiration of a two-year lockup period, reversing an earlier stance that had cast uncertainty around the stock. General Electric last November said it was considering shedding its Baker Hughes holdings to refocus its business and boost cash flows. The announcement came just months after the conglomerate had purchased a 63 percent stake in the firm under a deal that combined its oil and gas services and equipment business with Baker Hughes to create the second largest oilfield services firm by revenue.
U.S. home sales unexpectedly fell in January, leading to the biggest year-on-year decline in more than three years, as a chronic shortage of houses lifted prices and kept first-time buyers out of the market. The supply squeeze and rising mortgage interest rates are stoking fears of a lackluster spring selling season. "There may be some headwinds ahead for home resales with rising mortgage costs affecting how much the buyer can afford and this could put a damper on existing home sales and take some of the wind out of the economy's sails," said Chris Rupkey, chief economist at MUFG in New York.
Ford North American head Raj Nair to depart immediately 18 Hours Ago | 02:07 Ford Motor has appointed company insider Kumar Galhotra as president for its North America business, filling the gap left by the abrupt departure of Raj Nair on Wednesday after an internal investigation. Galhotra, who has worked for Ford for 29 years and previously led its luxury Lincoln Motor Company arm, will report to Jim Farley, Ford executive vice president and president of Global Markets. The appointment will be effective March 1. Ford said on Wednesday that Nair was leaving the company immediately after an investigation found his behavior was "inconsistent with the company's code of conduct." It did not give
Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia. Essar wants to borrow the money for 3-4 years and repay it with cargoes of refined products as it seeks to cut its reliance on lending from Indian banks, banking and trading sources familiar with the discussions said. It would be the first large multi-year pre-payment deal by Essar, which has previously engaged only in short-term deals.
Shares of Facebook FB gained more than 1.3% in early morning trading hours Wednesday after the company agreed to a new deal with ICE, a pan-European online rights hub. ICE described the agreement as a “landmark” deal, and it marks the social media behemoth’s first partnership with an online music licensing firm. The deal allows Mark Zuckerberg’s company to license these files on Facebook, Instagram, Oculus, and Messenger.
The benchmark S&P 500 lost 0.6% while the tech-heavy Nasdaq was just barely in the red, falling 0.07%. On Wednesday, investors will have a calmer earnings calendar but some economic news to digest, with the minutes from the most recent Federal Reserve meeting due out at 2:00 p.m. ET, while the January reading on existing home sales and the initial looks at service sector and manufacturing activity in February due out in the morning. On the earnings side, Garmin (GRMN), Dish Network (DISH), Host Hotels (HOST), and Cheesecake Factory (CAKE) will be the biggest names reporting.
Pam Codispoti created the now-legendary Chase Sapphire Reserve credit card, and now she runs JPMorgan Chase's expanding retail branch network. Business Insider recently spoke with Pam Codispoti, the JPMorgan Chase exec responsible for creating the Chase Sapphire Reserve credit card that became a sensation, about millennials, myths, and the other challenges she'll confront in her next job.
Here are some of the companies with shares expected to trade actively in Thursday’s session. Stock movements reflect premarket trading. —Up 0.4%: The auto maker said Raj Nair, the firm’s president of North America, has left the company following allegations of misconduct. —Down 19%: Roku gave 2018 net income projections that were weaker than expected, […]
Stocks on the rebound as the 10-year yield backs off from 4-year highs. Plus – HP and HP Enterprise earnings on the way – we’ll have them for you. Plus – the co-founder of Facebook is here. Catch The Final Round at 3:55 ET p.m. with Myles Udland and Rick Newman.