For instance, an investor with 90% in stocks and 10% in bonds at the start of the financial crisis in 2008 would have been down more than 40% in March 2009, when the market bottomed out. But, assuming they avoided cashing out, they’d have broken even by mid-2011, just over three years later, according to data from Morningstar. By the start of this year, they’d have more than doubled their money.
Civitas Solutions Inc. CIVI) on Thursday reported a loss of $1.6 million in its fiscal fourth quarter. The Boston-based company said it had a loss of 4 cents per share.
A record number of companies are leaving California for states with a better business climate, and a new report shows that Texas remains their No. 1 destination. What’s more, the study’s author – for the first time in his career – is openly urging California businesses to relocate out of state. Texas’ rank as the top destination for California companies is especially significant considering that the large majority of corporate relocations cross only one state line, said Joseph Vranich, president of Pennsylvania-based Spectrum Location Solutions LLC. “A lot of people don’t want to be more than one hour from other members of their family they might be leaving behind, or their good friends or their favorite country club — whatever it is,” Vranich said in an interview with the Dallas Business Journal.
The stock market has reached a bottom following a tumultuous 10 weeks that's seen the S&P 500 in and out of correction territory, Raymond James' Jeff Saut says. The U.S. economy is not going to slow as much as expected and earnings will be strong next quarter, he adds. The stock market has reached a bottom following a tumultuous 10 weeks that's seen the S&P 500 in and out of correction territory, longtime strategist Jeff Saut told CNBC on Thursday.
Using pulsed microwaves to ignite fuel rather than spark plugs or glow plugs, the engineers behind MWI Micro Wave Ignition AG say they can cut consumption of gasoline and diesel by as much as 30 percent, and emissions by as much as 80 percent, because the fuel burns at a lower temperature. Among its shareholders is Wendelin Wiedeking, the former chief executive officer of Porsche AG credited with reviving the iconic German sports-car maker. MWI has mandated Macquarie Capital to look for a buyer and international partner that can help to promote the new system and increase MWI’s financial firepower, according to people familiar with the matter.
To avoid a nasty surprise, taxpayers should make a date with their financial planners or accountants before the end of the year to huddle about any last-minute strategies and review their most recent tax return. "The big change for individuals is with deductions," says Craig Richards, managing director and director of tax services at Fiduciary Trust Company International in New York. Although the standard deduction nearly doubled to $12,000 for single tax filers and $24,000 for married couples filing jointly, key deductions like state and local taxes and mortgage interest were capped at $10,000.
What’s worse, more than 46 percent of workers were actually “significantly” below – which was measured as more than four times pay below – their savings targets. Another 20 percent fell into the two- to four-times below target category, while 15 percent were two times, or less, below their retirement goals. On average, employees are contributing about 8 percent of their pay to retirement accounts.
Indonesia-based e-commerce firm Tokopedia is the latest startup to enter the Vision Fund after it raised $1.1 billion led by the SoftBank megafund and Alibaba. SoftBank and Alibaba are existing investors in the business -- the Chinese e-commerce giant led a $1.1 billion round last year, while SoftBank recently transitioned its shareholding in Tokopedia to the Vision Fund. That latter detail is what held up this deal which had been agreed in principle back in October, TechCrunch understands.
CNBC markets reporter Kate Rooney sits down with "Power Lunch" to explain how Robinhood, the banking app disrupting the market, might be successful.
LinkedIn just published its U.S. Emerging Jobs Report for 2018, measuring the fastest growing jobs and skills nationwide. Banking off an economic boom, the takeaways from the professional social network’s latest report tout big numbers for wage growth matched by a strong job market. LinkedIn says the race to recruit highly-skilled talent is especially competitive going into 2019.
Like an Apple Inc. commercial, hundreds of employees crammed stairwells and against railings at the technology company’s North Austin office on Thursday to hear first-hand the news the company announced in the middle of the night. Austin is already home to the largest Apple (Nasdaq: AAPL) office outside Cupertino, Calif. This expansion will significantly increase the importance of the Texas capital to the global operations of the second most-valuable company in the world, with a market capitalization of $809.6 billion on Thursday afternoon. Site preparation will begin in 2019 on the new site, about a mile away from Apple existing campus at 5501 W. Parmer Lane, said Kristina Raspe, Apple's vice president of real estate.
While realtors and economists are seeing some signs that the Bay Area's housing market is starting to cool, median home prices in the region are up year over year. In the Bay Area's ritziest neighborhoods, rising home prices means the income needed to afford those jumbo mortgages are sky-high these days. Business Times' research crunched the numbers on Bay Area ZIP codes to find which ones require the highest salaries to afford a median priced home.
Popular online stock-trading platform Robinhood is offering checkings and savings accounts with an interest rate that’s roughly thirty times higher than the national average. “Robinhood Checking & Savings” accounts have no fees or account minimums, building off of the company’s free stock-trading model that ushered in 6 million users and a $5.6 billion valuation in its five-year existence. The company is launching a new app on Thursday that will house its stock trading alongside the checking accounts.
The alternative minimum tax (AMT) is a great example of how legislation passed in Washington, D.C. can backfire on the general public. The AMT is best described as a parallel tax category created by Congress to operate alongside the traditional federal income tax. The AMT calls for certain taxpayers to calculate their tax liability two times - first under the regulations laid out for regular income taxes and a second time to comply with AMT rules and mandates.
The world’s largest oil exporter has shipped 6,000 tons of the crustaceans to China since last week, Ahmed Al-Bala’a, chief executive officer of the National Aquaculture Group, said in a statement. Saudi Arabia is testing the waters in China for shrimp as it seeks to reduce its reliance on oil and develop new industries and lines of business. Saudi shrimp exports to China should exceed 30,000 tons by the end of the year, said Al-Bala’a, whose closely held company operates a sprawling network of shrimp farms on the Red Sea coast.
CNBC's Diana Olick reports on the drop in housing demand despite falling mortgage rates.
Income investors seek reliable, not flashy. Many investors in the market for dividend stocks first peruse a fairly short list of popular companies, thinking that these big-name corporations are inherently more stable than their peers. What dividend investors should look for instead is a long history of consistent dividend payments and steady dividend increases -- even if the stock paying them isn't as flashy or well known.
A permit for the Atlantic Coast Pipeline to cross two national forests, including parts of the Appalachian Trail, was thrown out Thursday by a federal appeals court that harshly criticized regulators for approving the proposal. A three-judge panel of the 4th U.S. Circuit Court of Appeals in Richmond blasted the U.S. Forest Service for granting a special-use permit to build the natural gas pipeline through parts of the George Washington and Monongahela National Forests, and granting a right of way across the Appalachian Trail. "A thorough review of the record leads to the necessary conclusion that the Forest Service abdicated its responsibility to preserve national forest resources," Judge Stephanie Thacker wrote for the panel in the unanimous ruling.
Before long, rumors swirled: Was the billionaire Mohammed Al Amoudi even alive? Al Amoudi, is "still alive" and will stand trial at some point for corruption and bribery, according to a Saudi official, who asked not to be identified. What’s remarkable about his situation is that despite his prolonged detainment, a result of Crown Prince Mohammed bin Salman’s crackdown on graft in the Kingdom, the bulk of Al Amoudi’s global business empire has boomed.
Back in May, Thomas Lee, head of research at Fundstrat Global Advisors was predicting a rally to $25,000 by the end of the year. Bitcoin’s fair value, given the number of active wallet addresses, usage per account and factors influencing supply, is between $13,800 and $14,800, he said in a note Thursday. “Fair value is significantly higher than the current price of Bitcoin,” he wrote.
The world’s largest carrier appears to be concerned that frequent customers may be experiencing very different levels of service from flight to flight depending on the experience of the crew on board — something that could affect customers' decisions about whether to keep flying American. Furthermore, the appearance of the new service analyst on flights has rankled veteran American flight attendants who feel their presence is yet another way management is checking up on them. Flight attendants already were upset about new work rules introduced on Oct. 1 that many believe were unnecessarily punitive.
Adobe said adjusted earnings for the three months ending on November 30, the company's fourth quarter, came in at $1.88 per share, up 45% from the same period last year but just shy of the Street consensus of $1.88. Group sales, Adobe said, were pegged at $2.46 billion, up 23% year-on-year and ahead of analysts' forecasts. "Adobe achieved record revenue of greater than $9 billion and delivered outstanding earnings performance in fiscal 2018," said CEO Shantanu Narayen.
Saving for retirement is a good idea, of course, but if you time things right and do your homework, some of your nest egg could also do double duty as a tax shield. Here are two simple savings maneuvers that tax pros say could also lower your tax bill — if you make them in time. The IRS doesn't make you pay income tax now on earnings that go directly from your paycheck to a traditional 401(k) plan (typically you pay the taxes when you withdraw the money).
On a per-share basis, the Issaquah, Washington-based company said it had net income of $1.73. Earnings, adjusted for non-recurring gains, came to $1.61 per share. The results fell short of Wall Street expectations.
Pot stocks have had a rocky fourth quarter, with the ETFMG Alternative Harvest ETF falling 25% over the past three months. That trend continued Thursday with the largest pot ETF by net asset value falling 1.6%. Alternative Harvest has had a rough fourth quarter since reaching a year-to-date high of up 32% in September.