Foods Co., a unit of Kroger, the largest supermarket chain in the U.S., will no longer accept payment from customers using credit cards issued by Visa, the largest credit card company in the U.S. The ban on Visa credit cards – but not debit cards – was set to go into effect Tuesday. The grocery store chain announced the policy change last week, saying it was due to Visa’s interchange rates, which merchants pay to banks whenever a customer uses a corresponding card at the store.
The FBI just warned banks that their customers’ accounts could be targeted by a worldwide ATM hacking scheme. The attack, known as an “ATM cash-out” or “unlimited operation,” is expected in the coming days, and will likely take place on a weekend or after banks have closed, according to information obtained by the FBI. The warning was issued only to banks, not the general public, but was publicized by Brian Krebs on his cybersecurity blog, Krebs on Security.
Warren Buffett’s Berkshire Hathaway has bet big on Apple. During the second quarter ended June 30, Berkshire Hathaway added nearly 12.4 million shares of Apple (AAPL), bringing its already massive stake in the iPhone maket to nearly 251.96 million shares, a position valued at over $52.8 billion when using Tuesday’s market close of $209.75. The iPhone maker has been a great investment for Berkshire, though Buffett has historically shied away from tech companies.
On Aug 13, President Trump gave the final nod for the colossal fiscal 2019 National Defense Authorization Act (NDAA), thus sanctioning a spending allowance of $717 billion for United States’ national security. Notably, the budget proposed in February got approval from the U.S. Senate last month. The NDAA outlines $616.9 billion as Pentagon's base budget, $69 billion for overseas contingency operations funding and $21.9 billion for nuclear weapons programs under the Energy Department.
U.S. chip company Nvidia is making a bold claim that it has accomplished the greatest leap since the invention of the CUDA GPU more than a decade ago. There is positive sentiment developing around Nvidia’s (NVDA) stock. After all, Nvidia claims to be combining artificial intelligence, real-time ray tracing, simulation and rasterization.
Chinese internet streaming giant iQiyi (NASDAQ:IQ) went public at $18 per share in late March 2018. By mid-June 2018, IQ stock was trading above $40. Why the huge rally in IQ stock? iQiyi was being called the Netflix (NASDAQ:NFLX) of China, a label which
Derek Scissors, the American Enterprise Institute Asia economist, discusses why China and the U.S. should give up on negotiating trade and go back to a time when China wasn't such an important part of U.S. supply chains.
Wall Street says Ford Motor Co. must cut its dividend. The debate erupting over Ford’s quarterly payout to shareholders -- including the founding family that derives millions from the disbursements -- is exposing a growing and contentious divide over what needs to be done to fix the ailing automaker. Analysts at Morgan Stanley and Berenberg say Ford can no longer afford to pay the 15-cent dividend -- the most generous among its automotive peers -- as earnings evaporate overseas and the company initiates an $11 billion restructuring that it’s said will take as much as five years.
Robinhood is suspending new purchases of Helios & Matheson, the parent company of MoviePass, after the stock's drastic 99.99% crash. "In order to protect our customers from the risks associated with some low-priced stocks, we remove the buy option for stocks like HMNY that consistently trade under $0.10," the company said in an email to customers. Helios & Matheson, the parent company of MoviePass', won't be getting any new investors on Robinhood.
Bridgewater Associates, the world's largest hedge fund that oversees $150 billion in assets under management, bought $15.7 million worth of Alibaba shares during the second quarter, regulatory filings show. Alibaba is one of the stocks included in the "FAANG+BAT" basket. Bridgewater Associates, the $150 billion hedge fund founded by Ray Dalio, bought 84,629 shares of Alibaba in the second quarter, worth $15.7 million, according to regulatory documents filed Tuesday.
AT&T (T) shares are higher on Monday, helped by a vote of confidence from Morgan Stanley. Where we were: AT&T shares have badly trailed the market this year, amid wider underperformance for telecom in general, and concerns surrounding its takeover of Time Warner. Where we're headed: The telecom sector will soon be replaced by the communications services sector, and AT&T itself could get a boost, given its low valuation and potentially growing investor appetite for defensive stocks.
"I'm down to maybe four dividend-owning stocks, two shorts, and Amazon and Netflix," the billionaire says. Billionaire entrepreneur Mark Cuban told CNBC on Monday that he's holding much more cash than he normally does because he's concerned about the stock market and U.S debt levels. Cuban said Amazon and Netflix are his biggest holdings.
Investors in Tencent Holdings Ltd., once the hottest stock in Asia, are trying to figure out where the bottom is. The Chinese internet giant, best known for its popular games and ubiquitous messaging services, has shed more than $150 billion in market value since a January peak, the biggest wipeout of shareholder wealth worldwide. Some $15 billion evaporated on Tuesday after regulators told the Shenzhen-based company to remove Monster Hunter: World from its PC downloads service just days after the action title’s debut.
On Aug 13, one of the equity markets’ most closely watched indexes, the Dow, plunged. This marked the blue-chip index’s decline for four consecutive days. On Aug 13, the Dow 30 plummeted 0.5% or 125.44 points.
Joe Feldman, Telsey Advisory Group analyst, discusses future outlook for Home Depot and other home improvement stocks.
Cisco Systems CSCO has seen its stock price sink roughly 3% over the last three months as investors decide what to make of the historic tech giant’s future. Cisco is coming off a relatively solid fiscal third quarter and has made a string of acquisitions that set it up for a stronger future. Cisco’s revenues climbed by 4.4% in Q3 to hit $12.46 billion, which just surpassed the Zacks Consensus Estimate.
Alibaba Group Holding Limited ( BABA) shares fell nearly 3% in early trading on Tuesday in a continuation of the downtrend dating back to late July. The intensifying trade war between the United States and China has led to concerns of a slowdown in the
MARKET PULSE Shares of various Chinese internet names are down sharply in Tuesday's session, after several companies delivered disappointing earnings commentary and as the Turkey crisis continues to weigh on emerging markets. Alibaba
By Jonathan Stempel (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) boosted its investments in Goldman Sachs Group Inc (GS.N) and Israel's Teva Pharmaceutical Industries Ltd (TEVA.TA) during the second quarter and confirmed
More than a few times within the past couple of years I’ve made the point that Alibaba (NYSE:BABA) isn’t a carbon copy of Amazon.com (NASDAQ:AMZN), even though the two are frequently compared. Current and would-be owners of BABA stock are looking for an idea of how to weigh the unusual company, and the similarities are undeniable. Largely speaking, though, Amazon is built to be the retailer rather than a middleman, often competing with its third-party sellers.
Ford Motor (F) has been stuck in neutral in 2018, and while the company has been making some needed changes, relief may be a ways off. Where we were: Ford shares have tumbled more than 23% year to date, more than double the 11% fall seen by rival General Motors (GM). Where we're headed: Instinet is wary of sales trends in China and Europe, and argues that while the company is making the right moves, it will take time to get back on track.
Goldman Sachs' analyst is one of the most bearish Tesla analysts on Wall Street, with a "sell" rating and $210 price target — 40% below where shares are trading. Elon Musk hasn't been one to hide his disdain for Tesla skeptics on Wall Street.
Berkshire Hathaway Inc. filed an update on its U.S. stock portfolio with the Securities and Exchange Commission on Tuesday. Berkshire held nearly 252 million Apple shares at the end of June, up from 239.57 million in March. The Teva investment was just disclosed earlier this year and has grown to 43.2 million shares from 40.5 million in the first quarter.
MoviePass parent Helios & Matheson Analytics Inc. posted a far larger loss last quarter, underscoring the beleaguered company’s challenges as it tries to turn around a money-losing subscription service. The operating loss of $126.6 million in the quarter ended June 30 compared with a $2.74 million deficit in the year-earlier period, Helios & Matheson said in a filing Tuesday. To reduce the widening losses, MoviePass ended its $9.95-a-month movie-a-day subscription service and replaced it with a plan that lets fans see three films a month for the same price.
Nvidia Corporation (Nasdaq: NVDA) investors got some long-awaited good news on Monday when the company unveiled its next-generation Turing graphics chips and said the technology will be available starting in the fourth quarter. The new Turing cards reportedly produce a six-fold performance boost over Nvidia's prior-generation Pascal graphics cards, and analysts expect the Turing products to be a huge hit. Turing is Nvidia's eighth generation of graphics chips and its first new batch in two years.