A call to boycott the National Rifle Association became the top trend on Twitter as users of the global social media platform demanded that a variety of companies sever ties with the lobbying group. The online furor comes a day after the NRA’s leaders attacked the media and Democrats, claiming the fallout from last week’s Florida high school massacre was being politicized. One user, with almost a quarter of a million followers, tagged a slew of brands in his post, including NRA partners Hertz Corp. and LifeLock Inc. “There are only 5 million NRA members but over 300 million of us! Businesses have a choice whose business they prefer,” tweeted another.
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.
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.
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.
Storage-drive makers Western Digital (WDC) and Seagate Technology (STX) are gaining on Friday, although Stifel's Kevin Cassidy says only one is a buy. Cassidy resumed coverage on both stocks today, with a Buy rating and $105 price target on Western Digital and a Hold rating and $49 target on Seagate. Together, he writes that the two have an 83% share of the $23.9 billion hard-disk-drive (HDD) market, and that HDDs will continue to play an important role in storage, especially in enterprise applications. He likes that both companies are innovative, though of the two, he prefers Western Digital. Cassidy highlights the company's vertically integrated supply in the NAND Flash market, which will benefit
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.
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.
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
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 ...
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
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.
Planning on retiring soon? These are the five ways you can tweak your retirement plans based on the new tax laws.
Trading bitcoin, the world’s largest cryptocurrency by market capitalization, could become cheaper and faster, thanks to new software employed by two major exchanges for buying and selling the digital currency. (See also: Be Wary of Cryptocurrencies: Ethereum Founder.) This week, both Coinbase and Bitfinex announced plans to adopt a software called Segregated Witness, or SegWit, which bitcoin enthusiasts and the later exchange says should reduce fees by as much as 20% and reduce transaction wait times. Bitcoin bears have often pointed to the cryptocurrency’s long transaction times, often more than 24 hours, as barring it from becoming a viable means of means of payment for goods and services.
Gold swung higher on Thursday, snapping four sessions of losses as the dollar surrendered early gains, though the metal remained on track for its biggest weekly decline this year. The dollar had risen after minutes from the last U.S. Federal Reserve meeting showed policymakers backed further interest rate increases but later eased into negative territory against the euro. U.S. gold futures were flat at $1,332.10.
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
Walmart Inc. (WMT), the world’s largest retailer, will launch a new online home goods shopping page as part of its larger initiative to redesign its e-commerce business and revamp digital sales. After releasing its most recent quarterly report this week, WMT saw its largest drop in years as investors feared a deceleration of its online retail growth amid heightened competitive pressure from rivals such as Amazon.com Inc. (AMZN) and Target Corp. (TGT). (See also: Amazon Launches Its Own Line of OTC Drugs.) In the coming weeks, Bentonville, Ark.-based Walmart will launch an upgraded and more stylish home decor shopping page that will allow customers to browse housewares and furniture based on their
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
Indian refiner Essar Oil is looking to raise over $1 billion from trading houses after its new Russian owners could not raise loans from major Western banks due to sanctions on Russia. Essar wants to borrow the money for 3-4 years and repay it with cargoes of refined products as it seeks to cut its reliance on lending from Indian banks, banking and trading sources familiar with the discussions said. It would be the first large multi-year pre-payment deal by Essar, which has previously engaged only in short-term deals.
Credit scores have the power to impact your financial well-being. Credit card companies, banks and credit unions are making it easy for customers to view their credit scores on demand, and often for free. Here are 10 things you need to know about your credit score, according to experts.
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,
“There are a lot of ways to have the economy grow...You can have wage inflation and not necessarily have inflation concerns in general.” Financial markets have been on a roller-coaster ride recently, with investors spooked by concerns rising wages will lead to higher inflation and a jump in interest rates in the U.S. But there’s no need to worry, according to U.S. Treasury Secretary Steven Mnuchin. President Donald Trump’s finance chief brushed aside fears that the administration’s tax reforms will lead to a spike in consumer prices, arguing that wages can go up without leading to higher inflation. “There are a lot of ways to have the economy grow ... You can have wage inflation and not necessarily
Carlos Soto, owner of a floral service called Flowers From Our Heart, had an unexpected problem on the busiest day of the year: He had to turn down business on Valentine’s Day because he couldn’t find enough workers to field all the orders he could have taken. “A year or two ago, I’d put an ad on Craigslist and get 100 or 150 resumes for a few positions,” says Soto, whose Los Angeles-based service delivers flowers through a network of 30,000 local shops. With the U.S. economy in its ninth year of expansion, employers are fretting about a problem that seemed unimaginable just a few years ago, in the aftermath of mass layoffs and the Great Recession: a shortage of workers, from unskilled laborers needed to hammer nails to programmers and developers able to build complex software.