As the race heats up and cities state their cases to house Amazon.com's (AMZN) second headquarters, Moody's Analytics has some suggestions for the e-commerce giant. The firm presented Amazon with 10 cities where the new headquarters, which has the potential for 50,000 well-paying jobs and a $5 billion investment, should be located. The results were based on five "broad" categories; business environment, human capital, cost, quality of life, and transportation. A sixth criterion, geography, was also considered to "rank cities based on regional and geographic factors that Amazon might be taking into account," Moody's Analytics noted. The bidding for Amazon's second headquarters closed on Thursday,
General Electric (GE) third-quarter earnings were a stark reminder of the work that lays ahead as its new CEO embarks on a plan to turn around the company. GE's earnings fell short of Wall Street's expectations on Friday as profits were weighed down by restructuring costs and weak performance at its power and oil and gas businesses. Shares of GE sank as much as 8 percent in premarket trading before recovering ground ahead of the opening bell.
Shares of Schlumberger NV dropped nearly 5 percent to a 21-month low of $61.41, while Baker Hughes tumbled 5.2 percent to a 16-month low of $31.44. Halliburton Co , scheduled to report on Monday, was little changed. Last year, as oil prices bounced off multi-year lows hit at the start of 2016, optimism began to creep back into the energy industry.
Shares of General Electric Co. GE, +1.99% have extended their slide following a rare profit miss, and were now down 6.0% in very active premarket trade, putting them in danger of their worst one-day post-earnings performance in over eight years. Volume topped 1.4 million shares two hours before the open, making the stock the most actively traded in the premarket. This would mark the eighth-straight quarter that GE's stock has fallen the day it reported results. But the last time the stock dropped this much was July 17, 2009, when it fell 6.1% after Q2 2009 results. GE's stock is on track to open at the lowest price seen during regular session hours since Aug. 24, 2015, but also puts it in danger
If President Donald Trump prevails in shutting down a major "Obamacare" health insurance subsidy, it would have the unintended consequence of making free basic coverage available to more people, and making upper-tier plans more affordable. The unexpected assessment comes from consultants, policy experts, and state officials, who are trying to discern the potential fallout from a Washington health care debate that's becoming even more complicated and volatile. It's because another subsidy that's part of the health law would go up for people with low-to-moderate incomes, offsetting Trump's move.
Bank of America Merrill Lynch is the latest Wall Street firm to issue a warning about a stock-market correction. BAML joins Morgan Stanley in the ranks of big firms that have sounded the alarm this week. The most recent firm to sound the alarm is Bank of America Merrill Lynch, which forecasts a pullback of at least 10% — the historical definition of a correction — by Valentine's Day.
Industrial goods manufacturer General Electric Company GE is aiming to focus on its core industrial operations after completing the GE Capital exit plan. John Flannery took the helm as the Chairman and CEO of the company, replacing Jeff Immelt, who led the company since 2001.
There is no better time than National Save for Retirement Week (October 16 - 21) to start saving in earnest, to keep on growing your nest egg or to make some positive adjustments to your existing retirement savings game plan. Here are 5 solid tips to make retirement saving work out for you. A 22-year-old who saves $200 a month—just about $50 a week—at a 6 percent annual rate of return will have more than $76,000 saved towards retirement at age 40.
Strategists at Bank of America Merrill Lynch warned in a note late Wednesday that a hiccup in corporate profits would be enough to push the S&P 500 Index down by more than 10 percent before Valentine’s Day, although they remain bullish on equities over the longer-term.
Stocks dropped on Thursday, with both the S&P 500 and Nasdaq 100 on pace for their biggest losses since late September. At the root of the selling was weakness in Apple, which dropped as much as 2.8% on a report that orders for the recently-launched iPhone 8 have been cut for the rest of the year amid lukewarm interest. Since Apple is the most heavily weighted component in the benchmark index, any sharp fluctuation in the company's stock can have an outsized impact.
The IRS, in a new policy, says it will block or suspend processing of 2017 income tax returns that do not comply with Obamacare rules requiring filers to disclose their health insurance status. The move to tighten Americans' compliance with the Affordable Care Act comes even as the Trump administration takes steps to undercut it. "Taxpayers remain obligated to follow the law and pay what they may owe at the point of filing," the IRS said in a description of the new policy. The ACA requires most people to have some form of health insurance coverage or pay a tax penalty — a requirement known as Obamacare's individual mandate. That penalty is the higher of 2.5 percent of adjusted gross household
Japanese conglomerate SoftBank plans to aggressively grow its $100 billion Vision Fund to roughly $880 billion. "Vision Funds 2, 3 and 4 will be established every two to three years," according to CEO Masayoshi Son. SoftBank has already used the massive fund to invest in Nvidia, ARM, Improbable, and others. It's also close to acquiring roughly 20% of Uber.
U.S. stock index futures pointed to a strong positive open Friday, after the GOP moved closer to reaching tax reform. Dow Jones industrial average futures rose 87 points, while S&P 500 and Nasdaq 100 futures advanced 5.25 points and 12.75 points, respectively. The Senate approved a $4 trillion budget measure Thursday, taking a crucial step toward Republicans' goal of passing a tax plan this year. The chamber approved the budget resolution by a 51-49 vote. Sen. Rand Paul, R-Ky., was the only GOP senator to vote against it. Tax reform expectations had increased recently, helping lift U.S. stocks to record highs. Wall Street also paid attention to corporate earnings as Baker Hughes, General Electric
Is retirement dead? Before you start worrying too much, the fact that we think retirement as we know it is a thing of the past isn’t necessarily a bad thing. To understand that, just consider where the traditional idea of retirement came from in the first place.
Boeing Co said on Thursday it invested in Near Earth Autonomy, a Pittsburgh-based firm that develops technologies enabling autonomous flight such as drones. In addition to the undisclosed investment, Boeing said the two companies will also explore products and applications for emerging markets such as urban mobility. It was the first investment in autonomous technologies by Boeing's venture capital arm, Boeing HorizonX, since it was established in April of this year, Boeing said.
It's time for change at General Electric (GE) , according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "GE, right now, reflects a 15 cent cut in the quarterly dividend," Cramer said, referring to investors' fears that GE may reduce its dividend in an effort to turnaround the company. Earlier this month, GE announced the departures of a host of executives, including its chief financial officer and vice chairman. Activist investor Ed Garden of Trian Partners was added to the company's board this month. The company reports quarterly earnings on Friday. GE is the worst performing Dow stock so far this year, with shares down 26.6%, compared to the S&P 500's 14.2% gain.
Acacia Mining Plc’s tumultuous year doesn’t seem likely to ease up any time soon. The gold miner’s shares surged as much as 41 percent Thursday, after controlling shareholder Barrick Gold Corp. said it moved closer to resolving a crippling dispute with Tanzanian authorities. Tanzania banned exports of unprocessed gold in March and hit Acacia with a $190 billion tax bill in July, claiming the company had under-declared export revenue since 2000.
Seagate Technology Plc STX is scheduled to release first-quarter fiscal 2018 results on Oct 23.Last quarter, the company delivered negative earnings surprise of 34.3%. However, we note that Seagate has outperformed the Zacks Consensus Estimate for earnings
The unlimited data plans Verizon Communications Inc. once shunned are now helping the phone giant buy time for its next move. The all-you-can-use packages the largest U.S. wireless provider introduced this year led to a surge in subscribers for a second straight quarter. The increase gives Verizon more breathing room to create big new sources of revenue in media, advertising or connected cars as it struggles to maintain market share amid a price war. The telecommunications giant is aiming for a spring launch of a new online TV service that has been delayed at least twice, people familiar with the matter said, after settling on a strategy of delivering a sleeker version of cable programming over broadband.
The developments around Harvey Weinstein are not dying down. It’s been two weeks now since The New York Times dropped a bombshell investigative report into allegations of sexual harassment against Harvey Weinstein, and the story continues to reverberate throughout Hollywood, the media and beyond. Today’s major development is that the Los Angeles Police Department is investigating allegations that the disgraced movie mogul raped an Italian model-actress at a hotel in 2013, reported the Los Angeles Times. The New York and London police are also investigating accusations against him. Meanwhile, The New Yorker published a statement from current and former Weinstein Co. employees insisting they didn’t
More than 66 million Americans will see a 2% increase in their monthly Social Security and Supplemental Security Income (SSI) benefits in 2018. But many will see their take-home pay stay about the same as it was in 2017. In dollars and cents, the average retired worker's monthly benefit will rise $27 to $1,404 in 2018 from $1,377 in 2017. But depending on what happens with Medicare premiums, many people could see little or nothing of that 2% COLA, said Elaine Floyd, director of retirement and life planning at Horsesmouth. By way of background, the SSA deducts the Medicare Part B premium, which helps pay for physician, outpatient hospital, home health, and other services for the aged and disabled
Singapore’s Sea Ltd., Southeast Asia’s most valuable startup, raised about $884 million in its initial public offering in New York. The company sold 59 million American depositary shares for $15 apiece, according to a statement Friday, offering more shares and pricing them above its initial range of $12 to $14 each. The total amount may be more than $1 billion if an option to sell additional shares is exercised, according to a person familiar with the matter, asking not to be identified because the matter is private. The games company is backed by Tencent Holdings Ltd. and has benefited from the Chinese company’s support. Sea licenses games from Tencent, which also holds a stake of about 40
So, perhaps you’d like to know exactly how white and male Silicon Valley tech firms are. Sorry, that’s a secret. But nearly two dozen Bay Area technology firms have voluntarily broken the cone of silence around the lack of diversity in their industry. And they deserve some credit, because it’s not a pretty picture. Every year, companies with 100 or more employees must submit to the federal government an “EEO-1” form that breaks down workforce data by race, gender and job category. But although Uncle Sam collects those reports, he declines to share them with the taxpaying public. In order to pry open some kind of window into that black hole of hidden embarrassments (and possible liabilities),