Many of us know the magic of investing money in the stock market—just letting it sit and watching it grow—but few of us really grasp just how powerfully enriching this can be. Not surprisingly, Warren Buffett, the world’s greatest investor, has a vivid example of this which he shared with me during a visit earlier this year at Berkshire Hathaway headquarters in Omaha. First, take yourself back, way back to America’s entry into World War II. Franklin Roosevelt was president and Buffett was a young boy.
Ford Motor Co. said Wednesday it will stop investing in sedans in North America, bowing to U.S. drivers’ seemingly never-ending zest for crossovers and pickup trucks. Ford F, +2.03% shifted focus on “building a winning portfolio” of vehicles, by which it meant no more of its slow-selling sedans at least for North America. U.S. drivers have gravitated to SUVs and pickup trucks for years, thanks in part to these vehicles’ relative fuel economy improvements and price drops. Many car buyers also report enjoying the high-riding seating position of an SUV or pickup truck. “Ford realized it can’t be everything to everyone, and in today’s market that could be OK,” said Jessica Caldwell, an analyst with
Qualcomm Inc's earnings call on Wednesday showed just how far the company is willing to go to preserve one of its core business practices of taking a cut of the selling price of phones. Qualcomm gave two indications on Wednesday it was prepared to accept lower revenue in exchange for maintaining the business structure and avoiding future customer disputes. On Wednesday, Qualcomm said it would cap the phone price that is the basis of the revenue calculation at $400.
In the latest blow to beleaguered blue chip General Electric Co., Moody’s Investors Service on Wednesday revised its outlook on the company’s ratings to negative, meaning it could downgrade it in the medium term. The move “reflects the added headwinds to restoring GE’s credit profile as a result of the $1.5 billion reserve that GE recorded in relation to the investigation by the Department of Justice of possible violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (”FIRREA”) by WMC, GE Capital’s discontinued mortgage business,” the rating agency said in a note. Read now: Are you smart or foolish to buy GE stock right now? Don’t miss: Investors shouldn’t get ahead
RICHMOND, Va. (AP) _ Altria Group (MO) on Thursday reported first-quarter net income of $1.89 billion. The Richmond, Virginia-based company said it had net income of $1 per share. Earnings, adjusted for non-recurring
As General Electric weighs whether to break up the sprawling conglomerate after a year of financial woes, the former vice chairman of the 125-year-old company Bob Wright warned it would be a “fool’s errand” to do so. “It’s worth more whole,” Wright told FOX Business’ Stuart Varney during an interview on Wednesday. In recent decades, the conglomerate has relinquished control of many businesses, including NBCUniversal.
Advanced Micro Devices, Inc. (NASDAQ:AMD) saw its shares soar after the company unveiled its latest quarterly earnings results. Advanced Micro Devices saw its revenue increase by 40% compared to the year-ago quarter, thanks in part to its Computing and Graphics Business Segment, which soared 95% year-over-year to $1.12 billion. The company’s Enterprise, Embedded and Semi-Custom segment declined 12% compared to the year-ago quarter to $532 million, due in part to its semi-custom revenue falling. “The first quarter was an outstanding start to 2018 with 40 percent year-over-year revenue growth,” said Lisa Su, AMD’s president and CEO, in a press release.
CNBC's Dominic Chu reports on Exxon Mobil hitting a session high after the company raises their dividend up 5 cents to 82 cents.
AT&T Inc. (NYSE:T) posted its latest quarterly earnings results after hours Wednesday, which missed analysts’ expectations. AT&T added 187,000 linear video subscribers during the period, while AT&T added 312,000 subscribers to its streaming service DirecTV Now. The company, which owns the satellite provider DirecTV, has been losing a slew of subscribers to its traditional television packages as more consumers are eliminating cable plans and opting for cheaper streaming services.
It will take months or years to tell if the tax cuts President Trump signed at the end of 2017 will boost economic growth or help create jobs, as intended. Congress’s Joint Committee on Taxation has published new estimates of the ways people will file their taxes for 2018, the first year most of the new tax provisions will be in effect. One of the most disruptive changes to the tax code is a new limit of $10,000 on the deductibility of state and local taxes, which used to be subject to no limit.
On Tuesday, Microsoft was valued at $714 billion, about $3 billion above Alphabet and Amazon. Microsoft had briefly ascended to No. 2 on April 12 and then again on April 16. On Tuesday, amid worries about higher U.S. Treasury yields and disappointing earnings by other companies that sent the S&P 500 down1.3%, Microsoft rose to No. 2 by virtue of its shares falling less--2.3%--than those of its rivals.
Ford Motor Co. said Wednesday it will shed most of its North American car lineup as part of broad plan to save money and make the company more competitive in a fast-changing marketplace. The changes include getting rid of all cars in the region during the next four years except for the Mustang sports car and a compact Focus crossover vehicle, CEO Jim Hackett said as the company released first-quarter earnings. The decision, which Hackett said was due to declining demand and profitability, means Ford will no longer sell the Fusion midsize car, Taurus large car, CMax hybrid compact and Fiesta subcompact in the U.S., Canada and Mexico.
3M Co (NYSE:MMM) investors certainly aren’t having fun, as shares fell 6.8% on Tuesday and sit just $9 above its 52-week low near $192. Ironically, 3M stock set that low on April 25, 2017. What’s got 3M down, anyway?
Index funds can be a low-cost, low-risk way for investors, especially first-timers, to get into the market. But what exactly are they? You can think of an index fund as a basket of stocks with hundreds or thousands of different ones inside, explains Nick Holeman, a certified financial planner at Betterment. The S&P 500, for example, is a fund that holds stocks for the 500 largest companies in the U.S., which includes familiar names such as Apple, Google, Exxon and Johnson & Johnson. "It's the cheapest and easiest way to diversify your money that you're investing," Holeman says. Think of it this way: If every individual stock were a Lego brick, buying an index would be like getting a set of Legos
CNBC's Dominic Chu reports that Lending Club stock plunging on charges from the FTC on deceiving consumers about loan term agreements.
Southwest Airlines says bookings are down since the fatal accident on one of its planes last week. Southwest disclosed the weaker bookings as it reported a 22 percent increase in first-quarter profit, to $463 million. The financial ups and downs, however, were overshadowed by the emergency landing of one of Southwest's planes last week in Philadelphia that killed one passenger when its engine failed.
Ford announced it will not invest in new sedans in North America but will keep Mustang and a new crossover with the Focus nameplate. Ford reported first-quarter earnings after the markets closed on Wednesday and beat analysts expectations, with a profit of $0.43 per share and revenue of $42 billion. "We are committed to taking the appropriate actions to drive profitable growth and maximize the returns of our business over the long term," CEO Jim Hackett said in a statement.
Shuntaro Furukawa grew up playing the Family Computer, eventually realizing every teenager’s dream of joining the company that made the genre-defining console. Now, as the next president of Nintendo Co., he has the chance to build a new franchise atop a hit product, the Switch. It’s a big generational shift. At 46, Furukawa is 22 years younger than outgoing President Tatsumi Kimishima, a former banker who oversaw the new hybrid console’s debut last year. The Nintendo Switch, which can be used as a portable gaming machine or docked to a TV, is the Kyoto-based company’s biggest bet in years. The company exceeded its own goals by selling 15.1 million units in the period, and forecasts 20 million
General Motors' first-quarter net income fell 60 percent from a year ago, but the company handily beat Wall Street estimates as U.S. sales rose. The Detroit automaker says it made just over $1 billion from January through March, or 77 cents per share. GM says earnings and revenue fell because shipments to dealers dropped as factories were closed to retool for new full-size pickup trucks.
Bristol-Myers Squibb Company BMY is a New York-based major producer and distributor of pharmaceuticals and other healthcare related products. The company’s key oncology products include Opdivo, Sprycel, Yervoy and Empliciti. Other than oncology, the company is focused on immunology and cardiovascular drugs like Orencia and Eliquis.
Illinois Tool Works Inc. ITW is a worldwide manufacturer of highly engineered products and specialty systems. The company’s diversified range of industrial products and equipment are sold in 56 countries. It currently has a $51.4 billion market capitalization
ConocoPhillips said Wednesday that it won a $2 billion arbitration award against Venezuela's state oil company, compounding the financial woes of the socialist-run nation as it struggles to feed its population. The Houston-based company said in a statement that the ruling against PDVSA by an International Chamber of Commerce panel was final and binding. "ConocoPhillips will pursue enforcement and seek financial recovery of its award to the full extent of the law," the company said in a statement.
Here's a question: You've built up a massive nest egg at your job, and you're about to retire. What are your plans for your hard-earned savings? For nearly a third of workers, the answer is "I don't know." Those were the findings from a recent survey by the Employee Benefit Research Institute, a research group that focuses on health, savings and retirement. EBRI conducted an online poll of 2,042 adults in January. "In most cases, you would expect people to do a couple of things: You wouldn't use all of it to buy lifetime income and you'd want to keep some of it for emergencies," said Craig Copeland, a senior research associated at EBRI. "It's troubling that they can't recognize what they think
Ford Motor Co on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers. Ford Chief Executive Jim Hackett told investors the company is undergoing "a profound refocus" of its operations and may exit unprofitable businesses. "We're going to feed the healthy part of our business," and dispose of marginal operations, Hackett added.
Lawyers for restaurant workers and restaurants in New York and Washington, D.C., are asking a federal appeals court in Manhattan to reinstate a lawsuit that claims President Donald Trump has business conflicts that violate the Constitution. The lawyers, saying the workers and restaurants compete with Trump's businesses, asked the 2nd U.S. Circuit Court of Appeals late Tuesday to let their claims go forward. A lower-court judge tossed them out in December, saying it was too early to bring the claims and that it was an issue better left to Congress to resolve.