A former Tesla employee told Reuters "about 400 people" in a range of positions were shown the door. As Business Insider's Bryan Logan reported, Tesla declined to confirm how many people were fired. Business Insider spoke to experts who said the firings at Tesla are hardly indicative of a trend in the workplace.
Earnings season can be a euphoric time for stocks. A big part of that has to do with how investors approach earnings season. When investors anticipate strong results, stocks tend to rally heading into the season only to fade as results are actually reported, the firm says.
However, he pointed out that there are stark differences in market conditions today compared to how things were 30 years ago. "We have from a purely technical point of view, more favorable conditions than in '87," he said. "The market is not as overbought as it was at that time." But that doesn't mean the contrarian investor is placing his bets on stock markets. "We are less overbought but we have more unfavorable macroeconomic conditions," he explained. "If I look at monetary and economic conditions around the world, the level of debt is much higher now, the level of government debt is much higher." Faber still sees similarities in market conditions with 1987. "A lot of people were accustomed
MONTREAL/PARIS (Reuters) - Airbus SE said on Monday it would acquire a majority stake in Bombardier Inc's CSeries programme in a deal that the Canadian plane-and-train-maker said would boost sales and position the company strategically against a potentially costly U.S. trade dispute with Boeing Co . The deal, which would come at no cost for Airbus, would give the European planemaker a 50.01 percent interest in CSeries Aircraft Limited Partnership (CSALP), which manufactures and sells the jets, the companies said. Airbus Chief Executive Tom Enders said the company has offered to assemble some of the narrowbody jets at its U.S. plant in Alabama for orders by American carriers.
Jim Cramer finds that traders tend to give investors buying opportunities when they flee certain stocks, like the battleground that is Apple.
The company then reported a strong quarterly result, beating on earnings per share, revenue, domestic subscriber growth and international subscriber growth estimates. The quadruple-whammy may have some investors assuming the stock is taking off Tuesday, but so far Netflix stock is close to flat. After the results, a slew of higher price targets have flooded the headlines.
Bruce Berkowitz, Sears Holdings Corp.’s largest outside shareholder, is stepping down from the board, a move that sent the stock tumbling on Monday. Berkowitz, the chief investment officer and founder of Fairholme Capital Management, will depart at the end of this month -- less than two years after he joined the board. Long a passive investor in Sears, Berkowitz became a director in February 2016 after saying he wanted to take a more active role at the company.
Perhaps it’s because trading stocks can often mirror the thrill of winning big at the blackjack tables, or maybe it’s because Las Vegas conjures images of the world’s most flashy brands and businessmen. MCRI is currently sporting a Zacks Rank #2 (Buy).
For months, the war in Washington to repeal and replace the Affordable Care Act, or Obamacare, has gripped the nation, along with concerns about how it might change health care for people who buy private insurance. "Funding for Medicare would likely have been cut by attempts to repeal the Affordable Care Act," says Andrew Scholnick, senior legislative representative on AARP's federal legislative team. Although unable to pass bills that would have done away with Obamacare, the details of Republicans' proposals offer insight into the direction they'd like health care to move, as well as the continuing efforts on the part of Congress and the Trump administration to remake the American health care system.
Only one analyst asks about the scandal that has gripped WashingtonReutersTim Sloan, CEO of Wells Fargo & Company, didn’t get much probing from sell-side analysts about the bank’s sales practices. Just a few weeks ago, several members of Congress raked the bank’s CEO, Tim Sloan, over the coals for the ongoing customer fraud scandals that have engulfed the bank for over a year. In fact, it took over half an hour for the call’s sole “sales practices” question, from Matthew O’Connor of Deutsche Bank, to emerge.
Experts say this is the ideal retirement savings timeline. Planning how much to save for retirement, let alone actually putting away the money, can be overwhelming. Many studies and experts provide guidelines on how to save for retirement, depending on where you are in your life.
The indices are looking to keep the rally alive as the Dow inches toward 23,000. Meanwhile, traders go through a number of earnings, as Goldman Sachs blows by analysts’ estimates. Yahoo Finance’s Alexis Christoforous, Andy Serwer, Justine Underhill, Sheryl
Volvo Cars and its Chinese parent have unveiled their first Polestar high performance electric car and pledged to invest 5 billion yuan ($760 million) in the brand, gearing up for intense competition to sell greener cars in the world's biggest auto market. The Swedish car maker took the wraps off the "Polestar 1", a luxury four-seater hybrid coupe in a ceremony in Shanghai - its first salvo as it positions the brand as a competitor to Tesla Inc and Mercedes's AMG division. China has said it wants electric and plug-in hybrid cars to make up at least a fifth of Chinese auto sales by 2025, spurring a raft of investment plans from global automakers in electric vehicles, particularly new joint ventures with Chinese firms.
Oct.16 -- Weinstein Co. has entered talks to potentially sell its movie and television rights to Tom Barrack's Colony Capital. Bloomberg's Erik Schatzker reports on "Bloomberg Markets."
Pacific Oil and Gas (NYSE:PCG) shares were moving higher during Tuesday’s session, following a 7% drop Monday. The stock has seen a recent string of losses on the possibility that the company may be responsible for starting the California wildfires. PG&E said in an SEC filing Friday it has "$800 million in liability insurance for potential losses," while also noting in the same filing, "that the fires are being investigated by the California Department of Forestry and Fire Protection (Cal Fire), including the possible role of power lines and other facilities of Pacific Gas and Electric Company, a subsidiary of PG&E Corporation. When we reached out for comment, PG&E told FOX Business: “We’ve received the Commission’s request and will comply with the request.
T-Mobile U.S. Inc and Sprint Corp plan to announce a merger agreement without any immediate asset sales, as they seek to preserve as much of their spectrum holdings and cost synergies as they can before regulators ask for concessions, according to people familiar with the matter. While it is common for companies not to unveil divestitures during merger announcements, T-Mobile's and Sprint's approach shows that the companies plan to enter what could be challenging negotiations with U.S. antitrust and telecommunications regulators without having made prior concessions.
Shares of Apple Inc. shot higher Monday, after the technology giant was upgraded at KeyBanc Capital, which said an aggressive move to a more “subscription-like” strategy can offset stagnating iPhone sales growth. Analyst Andy Hargreaves raised his rating on Apple to overweight, the equivalent of buy, after being at sector weight for the past 4 1/2 months. Hargreaves downgraded Apple in June, on concerns over a lack of growth in iPhone unit sales.
The U.S. Supreme Court dropped a scheduled securities-fraud clash after the two sides told the justices they are near a settlement. The high court was scheduled to hear arguments Nov. 6 in a case stemming from a New York City contract fraud and Leidos Inc.’s $500 million settlement with the city in 2012. The case asked the court to clarify investors’ ability to sue companies for omitting information from shareholder reports. In a joint filing Oct. 6, Leidos and a group of investors who sued the company asked the court to drop the case from its argument calendar while they finalize the settlement and seek approval from a federal trial judge. The two sides said they have an "agreement in principle."
Jeffrey Sherman: Challenges ahead for risk assets 3 Hours Ago | 02:22 U.S. stocks hit record highs on Monday as Wall Street looked ahead to the release of Netflix's quarterly results. The Dow Jones industrial average gained 66 points. The S&P 500 traded 0.1 percent higher, with telecommunications and financials leading advancers. Losses in real estate and health care capped gains. The Nasdaq composite advanced 0.2 percent. The three indexes reached record intraday highs shortly after the open. Earnings season kicked off last week with JPMorgan Chase, Citigroup and Bank of America releasing their results. Goldman Sachs, Morgan Stanley, Verizon and Honeywell are among the companies set to report
General Electric may likely cut its dividend soon as it looks to simplify its businesses and streamline its accounting under a new CEO after years of "financial engineering," according to Goldman Sachs on Tuesday. "Our fresh look at GE's fundamentals leaves us incrementally bearish, as we see a significant EPS/FCF reset and a potential dividend cut to come," wrote analyst Joe Ritchie in the report. Ritchie kept his neutral rating, but dropped his 12-month price target to $23 from $26.
SoftBank's multi-billion-dollar investment in Uber will be finalized "very likely in the next week," Uber board member Arianna Huffington said at the WSJD conference Monday. Uber's board voted earlier this month to approve the Japanese tech conglomerate's investment, which would add six more board seats, include a commitment to go public by 2019, and annul super-voting shares held by ousted ex-CEO Travis Kalanick and other longtime insiders. Through its $93 billion Vision Fund, SoftBank plans to acquire a 14% to 20% stake in the world's most valuable privately-held tech startup, Huffington said Monday.
European stocks open mixed on Tuesday as investors shift focus to rising commodity prices in the reignited global reflation trade and prepare for a key reading on consumer prices in the United Kingdom. Bank of England Governor Mark Carney is slated to speak to U.K. lawmakers on parliament's Treasury Select Committee later in the morning. Airbus SE ( (EADSY) ) will take a majority stake in Bombardier Inc's ( (BDRBF) ) C-Series jetliner division, the group said late Monday in Paris, as the Canadian group continues to grapple with the United States over accusations of unfair state support from the Canadian government. Kobe Steel Ltd ( (KBSTY) ) said Tuesday that the U.S. Department of Justice has
Billionaire investor Warren Buffett knows how to strike a good deal. The "Oracle of Omaha" has amassed $78 billion in net worth and owns more than 60 companies including Geico, Duracell and Dairy Queen through his Berkshire Hathaway (BRK.A) (BRK.B) , Forbes reported. Here are some tips to close a deal like Warren Buffett himself. Always remember Buffett's favorite deal making maxim: "Rule number one: Never lose money. Rule number two: Never forget rule number one." Get Right to the Money. Buffett's book, "The Essays of Warren Buffett," outlines the very real need to start talking about money from the start, no matter how uncomfortable it could make the conversation. It's both unrealistic and
President Trump tweeted this message early Monday: It turns out that, if we define “the stock market” as the benchmark Dow Jones Industrial Average DJIA, +0.12% he was right on the money: The Dow rose 25%, with dividends reinvested, from the close on Nov. 8, 2016, through the close on Oct. 13, 2017. The S&P 500 Index SPX, -0.01% trailed the Dow, returning 22%, according to FactSet. Before showing you which S&P 500 stocks have fared the best since Trump became president-elect, here’s how all 30 Dow stocks have performed: You can click on the tickers for more information about each company, including news coverage, price ratios, charts and financial statements. Here are the 12 S&P 500 stocks that
Crude prices rose 1 percent on Monday as Iraqi forces entered the oil-rich city of Kirkuk, seizing territory from Kurdish fighters and briefly cutting some crude output from OPEC's second-largest producer. "We're seeing increased geopolitical tension in the Middle East providing support in the market today, namely in Iraqi Kurdistan, and some uncertainty around Iran," said Anthony Headrick, energy market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota. Iraqi Kurdistan briefly shut down some 350,000 barrels per day (bpd) of production from the major Bai Hassan and Avana oilfields due to security concerns.