The nation's largest privately-owned bank holding company and a major car rental chain said Thursday they will stop promotions aimed at National Rifle Association members. The Nebraska-based First National Bank of Omaha will not renew its contract to issue the group's NRA Visa Card, spokesman Kevin Langin said in a statement. "Customer feedback has caused us to review our relationship with the NRA," Langin said.
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.
Warren Buffett's firm Berkshire Hathaway is sitting on a record amount of cash. Berkshire Hathaway has never had this much cash, so naturally people have wide-ranging ideas for how the Warren Buffett-led juggernaut may use it. The bank arrives at that figure by factoring in the record $109 billion of cash Berkshire had on hand at the start of February, and combining it with the company's strong free cash flow.
United Technologies shares soared today after CEO Gregory Hayes said the sprawling industrial conglomerate might be worth more dead than alive. Hayes explained the parameters of the proposed execution, which turns out to be more along the lines of drawing and quartering, in a presentation he gave at the Barclays Industrial Select Conference in Miami. "Is UTC better off in three separate businesses?," Hayes asked.
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.
Feb.22 -- China’s government will take over Anbang Insurance Group Co. and prosecute founder Wu Xiaohui, cementing the downfall of a politically-connected dealmaker whose aggressive global expansion came to symbolize the financial overreach of China’s debt-laden conglomerates. Bloomberg's Tom Mackenzie reports on "Bloomberg Markets."
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 ...
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
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
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
It has been about a month since the last earnings report for Verizon Communications Inc. VZ. Shares have lost about 11.6% in the past month, underperforming the market.Will the recent negative trend continue leading up to its next earnings release, or
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.
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,
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.
Planning on retiring soon? These are the five ways you can tweak your retirement plans based on the new tax laws.
In a bid to ensure availability of specialty brand drugs Express Scripts Holding Company ESRX and Walgreens Boots Alliance WBA recently announced plans to expand their existing group purchasing efforts.Since biosimilars have the potential to lower production
Airlines had a rocky start to 2018, as capacity worries rattled investors following United Continental Holdings' (UAL) earnings report. But Morgan Stanley's Rajeev Lalwani and his team write that there's potential upside for the stocks, thanks to increased demand—if the industry can keep supply in check. Lalwani notes that even with pricing guidance mostly meeting his expectations, the airlines he covers have underperformed the market some 7% year to date, as investors fret about oversupply. He says those concerns, on the back of United's surprise plans for multiyear capacity growth, are warranted for United stock and perhaps the wider industry. That said, he writes that investors are overlooking
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
Schlumberger, the world's largest oilfield services firm, and smaller peer Subsea 7 said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields. The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover.
Former General Electric boss Jeff Immelt was consistently overoptimistic in running the large conglomerate during his 16-year tenure, The Wall Street Journal reported Wednesday. More than a dozen insiders — including both investors and current and former GE executives — told the paper Immelt would project results for the company's future mismatched with its reality. Those insiders said Immelt's unwillingness to hear bad news led to a number of consequences, including unrealistic financial goals, poorly timed acquisitions and even mismanagement of the company's cash. Immelt also did not want to deliver bad news, the report says, furthering an optimism that downplayed serious risks to GE's businesses.
Qualcomm Inc. was criticized by Institutional Shareholder Services Inc. for failing to tell hostile suitor Broadcom Ltd. what an acceptable bid price might be, raising questions about the board’s commitment to negotiating a deal, the proxy adviser said. The influential advisory firm maintained its partial support for Broadcom’s offer in an updated report published late Thursday. It has recommended voting for four of the six Qualcomm board nominees Broadcom has put forward, two fewer seats than the hostile bidder needs for a majority to force Qualcomm to accept a takeover. “The Qualcomm board has yet to communicate to Broadcom (in the course of private discussion) its expectations regarding an acceptable equity value range,” ISS said in the latest report.
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
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
Shares of Roku (ROKU), the streaming video pioneer that went public in September, continue to plunge following a disappointing Q1 revenue forecast last night. The stock is down $8.36, or over 16%, at $42.74, falling farther since the open of trading, though a little bit better than the 22% decline at the worst point last night. Although Roku's chi ef financial officer, Steve Louden, told Barron’s the company feels just fine about the way things are going, and although many are impressed with growth -- especially the 129% leap in revenue from the company’s “platform” business — there are those who are picking apart individual metrics, and see less desirable trends. There are no ratings changes
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.