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
California's agriculture industry already faces a farm labor shortage, but now it's facing added pressure due to a wave of employee audits ordered for large farms throughout the state's Central Valley. Up to 10 agribusiness employers in the state's San Joaquin Valley were recently contacted by the U.S. Immigration and Customs Enforcement about notices of inspection, said Manuel Cunha, president of the Nisei Farmers League, a Fresno-based agriculture advocacy group. "These ICE audits have had nothing but a chilling, damaging effect," Cunha said Thursday. Some have suggested that California businesses are being unfairly targeted in the Trump administration's immigration enforcement efforts due
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 ...
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.
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."
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
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
Bitcoin tumbled Wednesday, Feb. 21, as prices skidded below $11,000. A day earlier, bitcoin rallied closer to the $12,000 mark but was lower nearly 10% in afternoon trading Wednesday. The No. 1 cryptocurrency in the world remained heartily ahead of the important $10,000 threshold, though. Here are the top crypto stories you need to know for Wednesday. Bitcoin Gets More Attractive As the price of bitcoin has increased closer to $12,000 from early-February lows, associated transaction fees have gotten smaller, according to Credit Suisse. It's a reversal of the trend seen in the last half of 2017, when transaction fees shot up as bitcoin increased in price. "While this is only a two-week retracement,
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.
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.
Just before the opening bell, UBS Director of Floor Operations Art Cashin discusses the state of the markets after yesterday's Fed minutes.
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
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
First National Bank of Omaha plans to drop its co-brand credit-card agreement with the National Rifle Association after hearing from customers in the wake of the latest mass shootings. “Customer feedback has caused us to review our relationship with the NRA,” Kevin Langin, a spokesman for the Nebraska bank, said Thursday in an emailed statement, declining further comment. “As a result, First National Bank of Omaha will not renew its contract with the National Rifle Association to issue the NRA Visa Card.” The debate over gun control is back in the public spotlight after the massacre of 17 people at a high school last week in Florida. President Donald Trump on Thursday offered a full-throated
Art Cashin: 3-percent level on 10-Year is like touching the third rail 1 Hour Ago | 02:07 It could be a bad day for the markets once the yield on the benchmark 10-year Treasury hits 3 percent, closely followed trader Art Cashin told CNBC on Thursday. "That 3 percent level is both a target and a kind of resistance. Everybody knows it's like touching the third rail," said Cashin, UBS director of floor operations at the New York Stock Exchange. "The assumption is once they do it, all hell will break loose. So we'll wait and see." As of early Thursday, the 10-year yield was slightly lower, around 2.91 percent, down from Wednesday's four-year high of 2.95 percent. Wall Street fears returned Wednesday
Plug Power Inc. PLUG was a big mover last session, as the company saw its shares rise more than 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, trading within a volatile range
Uber has heard the chatter about its intentions to pull back from Asia and it is responding by doubling down on its intentions. The company plans to "invest aggressively" in marketing and subsidies in Southeast Asia, CEO Dara Khosrowshahi told a crowd in India, according to Reuters. The company said it would invest so aggressively that it expects to lose money in the region. "Right now the plan for Southeast Asia is to go forward, lean forward and to invest," he said. Last week, CNBC reported that the company was going to sell its Southeast Asia business to rival Grab, which is currently valued at $6 billion. It is estimated that Uber generated revenue above $5 billion in Southeast Asia last
The stock is currently down 0.42% to $66.00 per share in after-hours trading shortly after its earnings report was released. First Solar’s GAAP results were negatively impacted by the recent U.S. tax reform. First Solar now expects 2018 revenues in the range of $2.45 billion to $2.65 billion, up from its previously-announced range of $2.3 billion to $2.5 billion.
After much anticipation, the Internal Revenue Service in December announced revisions to the U.S. tax law, including some major changes for those filing individually. After all, many people see their health care costs rise later in life.
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.
Venezuela is advertising its groundbreaking state-sponsored cryptocurrency as a means to "promote well-being, bringing power closer to the people.” A lofty goal, but it’s hard to see how the troubled nation’s citizens will be empowered if they can’t even buy it. The website through which a so-called pre-sale of the Petro digital token began Tuesday is only taking U.S. dollars and euros, and rival coins Bitcoin and Ether. The offering ends March 19. President Nicolas Maduro says the cryptocurrency will be backed by Venezuela’s oil reserves. Venezuela forbids its citizens from buying foreign currency. The restrictions mean that not accepting bolivars in the Petro pre-sale effectively shuts out