With Pence breaking a 50-50 tie, the Senate voted to start debating GOP legislation to tear down much of the Obama health care law.Read More »
Anthony Scaramucci is selling his fund of funds business to a Chinese conglomerate with ties to the government. The firm, the HNA Group, is facing an increasing number of questions at home and abroad, and the deal is subject to review by the US Treasury. The sale reportedly kept Scaramucci out of the White House in January because of the conflicts it raises.
If you listen to Starbucks (SBUX) execs, then everything at the coffee giant is amazing. Do some work in Microsoft (MSFT) Excel (as the analysts at Credit Suisse did below on Wednesday), and a glaring issue comes to light. That is, for all its digital leadership and ability to crank out new, more expensive drinks, Starbucks sales are on a long-term downtrend. Seeing as employee hourly wages and benefit costs are on the rise, as are costs to open new locations, a stubborn downtrend in sales is very unwelcome. It's especially unwelcome as most on Wall Street remain obsessed with Starbucks' growth prospects -- they could be in for some unfortunate surprises on the bottom line over the next year
If you're going to refrain from making big investments to up your exposure to a new technology that's gradually eating away at your core market, it's important to at least have a very strong competitive position in that core market. Seagate Technology PLC (STX) has failed to do that, and together with the steady cannibalization of large portions of that core market (hard drives) by a newer technology (SSDs), this has left the company in a much tougher spot than archrival Western Digital Corp. (WDC) . On Tuesday morning, Seagate reported June quarter (fiscal fourth quarter) revenue of $2.41 billion (down 9% annually) and adjusted EPS of $0.65, easily missing consensus analyst estimates of $2.56