Apple (AAPL) is making a major investment in the U.S. economy. In a release on Wednesday afternoon, the world’s largest publicly-traded company said it would make a “direct contribution” of $350 billion into the U.S. economy over the next five years. The company said this number does not include ongoing tax payments, or tax revenue generated by wages paid to employees or sales tax on Apple products.
The iPhone cycle will disappoint this year, according to one Wall Street analyst, who issued a rare downgrade of one of the market's most popular stocks. Longbow Research lowered its rating for Apple (AAPL) shares to neutral from buy, predicting the company will ship fewer iPhones than expected in fiscal 2018. "Apple found iPhone price elasticity with the introduction of the X blunting some demand.
If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. More than $2,000 of that decline came in about 24 hours, after South Korean Finance Minister Kim Dong-yeon indicated the country may crack down on cryptocurrency trading to discourage speculation. For the many doubters who can’t believe things have come this far—and for Bitcoin owners who can see how much they might lose—the big question is what it would take to knock the price back further.
Retail REIT Realty Income Corporation O has announced a hike in its common stock monthly cash dividend, rejoicing shareholders. This marks the company’s 95th dividend increase since its NYSE listing in 1994. The company will now pay 21.90 cents per share against 21.25 cents paid earlier.
Per reports, biotech bigwig Celgene Corporation CELG is looking to acquire smaller biotech Juno Therapeutics JUNO. Celgene is on the look-out of new deals and acquisitions given a lacklustre 2017. Celgene suffered a series of setbacks over the last few months. Earlier in Jan 2018, Celgene announced it will acquire Impact Biomedicines for an upfront amount of $1.1 billion.
FedEx (NYSE:FDX) CEO Fred Smith said on Tuesday tax reform will boost the balance sheets of American businesses and stimulate investment in the United States. Many companies, including Wal-Mart (NYSE:WMT), AT&T (NYSE:T) and Boeing (NYSE:BA), are giving back by raising pay and doling out employee bonuses, as a result of the tax bill. It passed in between our board meetings and I’m sure we are going to be doing a lot of things as a result of this tax bill because it was very, very good policy,” he said.
Shares of Kinder Morgan Inc. rose nearly 2% late Wednesday after the oil and gas infrastructure company reported fourth-quarter adjusted per-share earnings and sales above Wall Street expectations. Kinder Morgan said it lost $1.05 billion, or 47 cents a share, in the quarter, versus a net income of $170 million, or 8 cents a share, in the year-ago period. Adjusted for one-time items, Kinder Morgan earned 21 cents a share in the quarter, compared with 18 cents a share a year earlier.
Question: My ex-husband passed away recently. I was married to him for more than 10 years, from 1959 to 1971. What would I be entitled to if I made a claim for part of his benefits? I currently receive $1,069 per month from Social Security. I am now 78 years old. He was 82 when he recently passed. I appreciate any advice you can give me. Answer: According to Social Security Administration (SSA), if you're getting benefits based on your own work, you should call (1-800-772-1213) or visit an SSA office. The SSA will check to see if you can get more money as a widow (or widower). If so, you'll get a combination of benefits that equals the higher amount. You must, however, complete an application
Pipeline operator, Energy Transfer Partners ETP recently agreed to divest its compression units, CDM Resource Management and CDM Environmental & Technical Services LLC, to natural gas compression services provider, USA Compression Partners, LP USAC for about $1.8 billion. Per the deal, USA Compression will pay $1.225 billion in cash along with 19.2 million of its common units and 6.4 million of its Class B units to Energy Transfer Partners.
Nearly every major cryptocurrency—including bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash—has experienced substantial losses on Tuesday, highlighting concerns over potentially catastrophic regulatory changes in key Asian markets. Similarly, Litecoin has shed about 16.4%, Ripple has crashed more than 24.7%, and Bitcoin Cash has dropped roughly 20.7%. The total market capitalization of the 1,450 cryptocurrencies tracked by CoinMarketCap slumped from a 24-hour high of $713.64 billion to a low of $536.65 billion earlier this morning.
Bitcoin (Exchange: BTC=) could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday. Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform. Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017 .
General Electric Co (NYSE: GE) shares plunged today, losing 4 percent after announcing that its insurance business -- a part of the slimmed-down GE Capital -- would take a $6.2 billion charge for the fourth quarter. GE stock's recent performance, its $6.2 billion insurance loss, longtime efforts to shed the risks and assets of GE Capital, and comments from the new CEO on Tuesday all make clear that a breakup may be imminent and necessary. "We are looking aggressively at the best structure or structures for our portfolio to maximize the potential of our businesses," GE CEO John Flannery says.
Apple on Wednesday announced plans to open a new campus in the United States and said it would hire 20,000 new employees over the next five years. It also says it plans to pay $38 billion in repatriation tax. CNBC estimated that with the new repatriation tax rate of 15.5%, the company would bring nearly all its overseas cash, or about $245 billion, back to the United States.
Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.) Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. (See also: Bitcoin Price Slides Further; Ripple Builds Lead Over Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced in
Shares of wireless chip giant Broadcom (AVGO) took a sudden, sharp drop this afternoon, but have regained ground, following a report this afternoon by The Wall Street Journal’s Dana Cimilluca, Brent Kendall, and David Benoit that the U.S.’s Federal Trade Commission has for several months been looking into whether the company engaged in anti-competitive practices with its contracts for chip sales. In an email, Broadcom tells me that “This FTC review is immaterial to our business, does not relate to wireless and has no impact on our proposal to acquire Qualcomm.” The report comes as Broadcom is engaged in a hostile bid to acquire competitor Qualcomm (QCOM), with both companies trading barbs yesterday.
Bitcoin's no good, very bad week continued into Wednesday trading as the leading cryptocurrency by market cap watched a whopping $150 billion shaved from its total value. As prices bombed, these were the top stories you can't miss from Wednesday, Jan. 17. Bitcoin's Drop Weighs on Everyone The most notable price decline Wednesday was bitcoin, which dipped under $10,000 for the first time since November. Breaking back under the psychological barrier is troublesome, especially since a $10,000 bitcoin has declined 50% from highs near $20,000 set in December. Bitcoin's low Wednesday reached as far as about $9,100. But bitcoin wasn't alone -- Ethereum fell as much as 18%, Ripple declined as much as
BitConnect isn’t letting this week’s closure of its cryptocurrency exchange and lending operations deter it from attempting to raise funds though another digital token offering. That isn’t sitting well with existing coin owners, who have seen the value of the tokens tumble by as much as 95 percent since Monday. Critics on Twitter and Reddit have renewed allegations of fraud and are equating the company to a Ponzi scheme, where an operator pays off old investors by raising money from new ones. In a posting on BitConnect’s website Wednesday, the company predicted its tokens will rebound and promised its exchange will “work as usual” Thursday. The venture previously attributed the shutdown to “continuous
If a rogue group declares independence from the country's most populous state and no one cares, does it deserve news coverage? New California, a group with conservative leanings, has declared independence from the state of California, calling the left-leaning state 'ungovernable.' "Well, it's been ungovernable for a long time. High taxes, education, you name it, and we're rated around 48th or 50th from a business climate and standpoint in California," said founder Robert Paul Preston, according to CBS News. The group cites Article 4, Section 3 of the U.S. Constitution as a legal precedent for its attempt to leave the state. The group wants to divide rural California counties in the north and
Question: My wife died two years ago at age 53. I am currently 53. At the time, I was told that I would receive 80% of her Social Security when I reached retirement age in addition to my Social Security if I did not remarry. Is this true? We both worked long enough to qualify for Social Security at retirement age. Answer: Looks like you got some bad information, according to Joe Elsasser, president of Covisum and the developer of Social Security Timing. "The general rule of thumb for coordinating all benefits is that a beneficiary receives the higher of his or her own benefit or the benefit of the deceased," he said. That said, even after the law changes a few years ago, Elsasser said there are
As cryptocurrency markets around the world get smoked in what's been called a "bloodbath," Bank of America CEO Brian Moynihan took the time to warn customers about investing in highly volatile bitcoin. "We’ve basically told people that they could buy it in other accounts, but not at Merrill Lynch. When bitcoin futures launches in December, Bank of America Merrill Lynch, Citigroup, and JPMorgan notably did not provide their customers access to the contracts.
Apple (AAPL) is in the spotlight. Its Chinese supplier Catcher Technologies is denying allegations by a New York rights group that it makes employees work 10 hours a day in polluted conditions without proper overtime pay or safety measures in place. Apple and Catcher both claim they investigated the issues and found no evidence of any violations.
H&R Block, Inc. HRB recently entered into a partnership with Wal-Mart Stores, Inc. WMT, through which the former will sell exclusive do-it-yourself desktop tax software at all Walmart stores. Becoming the sole tax software provider to the world's largest retailer is likely to give H&R Block a competitive advantage over its peers. H&R Block provides users with personalized tax filing facilities aided by free tax advise given by highly trained professionals.
U.S. stocks jumped on Wednesday and the Dow closed above 26,000 for the first time as investors' expectations for higher earnings lifted stocks across sectors. The Dow also hit an all-time high in intraday trading. The S&P 500 posted a record closing high.