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  • UPS Says It Lost Tucker Carlson's 'Confidential Documents' Involving Bidens
    Business
    Benzinga

    UPS Says It Lost Tucker Carlson's 'Confidential Documents' Involving Bidens

    Shares of United Parcel Service, Inc. (NYSE: UPS) were unaffected after the company said it was the unnamed company Fox News host Tucker Carlson called out for losing what he said is a politically sensitive package.What Happened: Carlson said during his daily "Tucker Carlson Tonight" show Wednesday that his New York office was in possession of "a collection of confidential documents related to the Biden family."Carlson was in Los Angeles at the time filming an interview with Tony Bobulinski, a former business partner of Hunter Biden, son of Democratic presidential nominee Joe Biden.Carlson asked his office to send over the documents that he described as "authentic" and potentially "damaging" to the Biden campaign. The documents were dropped off at a retail location of a "large national carrier," he said. Carlson didn't elaborate on what the documents are. Related Link: How The 2020 Presidential Election Could Impact Health Care StocksUPS Issues Statement: Carlson didn't name the company during his show. But UPS Corporate Media Relations Director Glenn Zaccara told Business Insider that UPS was the unnamed company."UPS is conducting an urgent investigation into this matter and regrets that the package was damaged," the company told Business Insider."The integrity of our network and the security of our customers' goods are of utmost importance. We will remain in frequent, direct contact with Fox News as we learn more through our investigation."To UPS' credit, Carlson said the company "went far and beyond" but "found nothing.""As of tonight, the company has no idea -- and no working theory, even -- about what happened to this trove of materials, documents that are directly relevant to the presidential campaign just six days from now," the Fox News host said.Photo by Jim.henderson via Wikimedia. See more from Benzinga * Click here for options trades from Benzinga * Molson Coors Stock Chugs Along After Big Q3 Beat * Grocery Prices A Concern As Coronavirus Cases Surge(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Apple Shares Fall After IPhone Sales Miss, China Drops 29%
    Business
    Bloomberg

    Apple Shares Fall After IPhone Sales Miss, China Drops 29%

    (Bloomberg) -- Apple Inc. shares fell 4% after the company reported iPhone sales that missed Wall Street estimates and said revenue in China slumped.The company gave no forecast for the key holiday quarter, disappointing some analysts who were hoping for guidance. However, Chief Executive Officer Tim Cook said the new iPhone 12 line has been well received. Sales of Macs and Services also reached all-time highs in the fiscal fourth quarter.The Cupertino, California-based technology giant on Thursday said sales in the three months ending Sept. 26 came in at $64.7 billion. That beat analysts’ estimates of $63.5 billion, according to data compiled by Bloomberg. Earnings were 73 cents a share, also topping Wall Street expectations.Sales of the iPhone fell 21% on anticipation of the new models, which arrived later than usual this year. Cook said the response to the 5G iPhone lineup and other new devices has been “tremendously positive.”Read more: Apple IPhone 12 5G Line Wins Praise for Lower Prices, New SizesIn Greater China, one of the company’s most important regions, revenue fell 29% to $7.9 billion, the lowest since 2014. Products beyond the iPhone grew double digits in China, Luca Maestri, Apple’s chief financial officer, said in an interview with Bloomberg Television. He expects the iPhone 12 Pro Max with its larger screen to do “incredibly well” in the region and that the company is confident about growing there in the December quarter.Apple shares declined 4% to $110.68 in extended trading, after closing at $115.32 in New York. The stock has surged 57% this year and expectations were high ahead of Thursday’s results.“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” Cook said.The world’s largest technology company didn’t provide guidance again due to the ongoing impact of Covid-19, with Maestri citing the uncertainty from rising cases in the U.S. and Europe. The holiday quarter is usually Apple’s most important. This year, it includes the release of the iPhone 12 lineup, a new iPad Air, a cheaper HomePod and Macs with Apple’s own processors.On a conference call with analysts, Apple said the iPhone, other major hardware and services will generate double-digit growth in the current quarter.Maestri is optimistic about the iPhone’s performance, saying that the new line has the “tailwind of 5G, which is a once-in-a-decade opportunity.”Cook added that Apple is entering 5G at the right time, with carriers improving and expanding their networks on a weekly basis. He also said 5G networks are “fairly advanced” in China, which could help sales during the current period.Fiscal fourth-quarter revenue from the iPhone was $26.4 billion. Wall Street expected $27.1 billion. The iPad brought in $6.8 billion, beating estimates of $6.1 billion, while Mac sales totaled $9 billion, ahead of Wall Street forecasts of $8 billion.The pandemic has forced millions of people to work and study from home, spurring demand for Apple devices. But the health crisis has also disrupted the company’s global supply chain.“Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment,” Maestri said in a prepared statement.New iPhones often come out in September, giving Apple’s fiscal fourth-quarter a boost. This year, the iPhone 12 and iPhone 12 Pro went on sale last week, while the iPhone 12 mini and the iPhone 12 Pro Max become available for pre-order next week.That left Apple relying on other new products in the September quarter, including a couple of weeks of sales of the Apple Watch Series 6 and a lower-end iPad. The company also saw continued iPhone sales from the cheaper iPhone SE launched earlier this year, the newest iPad Pro and existing Macs.Services, which includes the App Store, Apple Music and iCloud, generated sales of $14.5 billion, up from $12.5 billion a year ago and higher than Wall Street expectations of $13.9 billion. The services result was spurred by records for music streaming, cloud storage, AppleCare product support and the App Store, Maestri told Bloomberg TV.That segment might get another boost in the current quarter when the company launches Apple One subscription bundles and a new Fitness+ service. Maestri said the bundles will launch on Friday and that the fitness service will debut this quarter.Apple’s Wearables, Home and Other Products category, one of the firm’s fastest-growing segments that includes the Apple Watch and AirPods, brought in $7.9 billion in revenue. That beat Wall Street predictions of $7.4 billion.(Updates with comments from Apple on earnings call beginning in the ninth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Jim Cramer On How To Play Stocks On Election Night
    Business
    Benzinga

    Jim Cramer On How To Play Stocks On Election Night

    Jim Cramer shared his thoughts on the upcoming election and a potential blue wave.Cramer On The Election: "Let's see if people can fight the blue wave," Cramer said Thursday morning on CNBC. He's concerned about a potential blue wave and that "you have to be."He went on to describe a blue wave as: short and cover when the election night really ends because there's a lot of stocks in a blue wave that would be crimped by a "hijack of the far left."Cramer On A Game Plan: He went on to give a game plan for investors to make "real money.""Short the managed care stocks into a blue wave. The managed care stocks then drop 10%, then you buy the managed care stocks, leading with Centene (NYSE: CNC) and maybe United Health (NYSE: UNH). Pfizer (NYSE: PFE) goes down to $32 ahead of the election, drops to $31.50, people think they made a lot of money, you buy Pfizer," said Cramer."This is what you do, I just gave it to you."Potential Winners Under Biden: Cramer last week discussed his "basket of winners" if presidential candidate Joe Biden were to win the election.He believes investors will go towards the solar industry. Two solar stocks he likes: First Solar (NASDAQ: FSLR) and Tesla (NASDAQ: TSLA).Cramer also thinks infrastructure will be a winner under Biden. Cramer likes these two infrastructure stocks: Caterpillar (NYSE: CAT) and Deere & Company (NYSE: DE).See more from Benzinga * Click here for options trades from Benzinga * 'Halftime Report's' Top Stocks To Watch: AGCO, Keysight And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Disadvantages of Roth IRAs Every Investor Should Know
    Business
    Investopedia

    Disadvantages of Roth IRAs Every Investor Should Know

    Before you open a retirement account, you should know the disadvantages of Roth IRAs. Income limits are one drawback. Learn about the disadvantages of Roth IRAs.