Steve Wynn plans to sell some or all of his entire $2.2 billion stake in the casino company he founded, a week after settling an acrimonious court fight with his ex-wife that freed each to do as they wish with their share of the family fortune. The potential sale and the unwinding of the shareholder agreement that prevented Elaine Wynn from lowering her 9.3 percent stake potentially make Las Vegas-based Wynn Resorts vulnerable to a takeover. Casino regulators in Nevada, Macau and Massachusetts are still investigating the company’s handling of harassment claims against Steve Wynn that were first raised in the couple’s bitter six-year court battle -- probes that could result in him being found unfit to be the largest shareholder in a casino company.
Beware of the snow. Tesla in a Bear Market Is a Nice Headline, but Remember Why OMG TESLA'S STOCK IS IN A BEAR MARKET AND IT'S OUT OF CONTROL - THIS IS A PIVOTAL MOMENT FOR THE ELECTRIC CAR MAKER OMG. To anyone who has used this headline in the past 24 hours - please, please, please relax. Everything is going to be OK in the world. Facebook's (FB) Mark Zuckerberg will get his. Daniel Bryan will have a great comeback in the WWE (WWE) ring. And if you are in the Northeast, you will survive the five inches (or lots more)of snow on the car that's coming Wednesday. In case you didn't see the breaking news, Tesla's (TSLA) stock has fallen 10% from its highs, putting it narrowly in a bear market weeks
General Electric Co. (GE) has been a dumpster fire. The stock is down roughly 55% over the past 12 months, and is hitting fresh 52-week lows on Tuesday. Shares couldn't gain any traction, closing just two pennies off session lows at $13.64, down 3.06% for the session. Earnings, cash flow and a massively underfunded pension fund have many investors worried about the long-time industrial stalwart. While GE was once a dividend-paying industrial titan, it's clearly lost its way. Even after halving its dividend in November, some investors still worry that another cut could come down the road. GE seemed like a safe, low valuation dividend-paying company. Obviously new revelations prove anything
Former Uber CEO Travis Kalanick is becoming the CEO of City Storage Systems. The company takes disused spaces like car parks and abandoned shopping malls and helps businesses make use of them. The company has projects to create kitchens for food delivery and also warehouse space for online retail companies.
With markets turning more volatile and tech growth stories turning sour, beaten down biotech stocks are getting another look. That's why, for the "Off the Charts" segment of Tuesday's Mad Money episode, Jim Cramer checked in with colleague Carolyn Boroden, who runs the FibonnacciQueen.com website and also contributes to RealMoney.com. While it may still be early too jump on stocks in the sector, Boroden told Cramer that there are several names worth watching for buying opportunities once some key technical changes appear in their charts. Cramer and Boroden started by looking at a daily chart of the iShares NASDAQ Biotechnology ETF (IBB) . Boroden pointed out that IBB found support during February's
Southwest Airlines shares tumbled after the company lowered its first-quarter estimates.
Micron Technology Inc. investors should expect to be surprised when the company reports earnings, as the options market is preparing for a bigger-than-average post-results reaction in the stock. The memory-chip maker MU, -0.25% is scheduled to report fiscal second-quarter results after Thursday’s closing bell. Investor and analyst expectations appear to be running relatively high, as six analysts surveyed by FactSet have raised their stock-price targets in the past week while only one has trimmed their target. And the stock, which is already the PHLX Semiconductor Index’s SOX, +0.73% best performing component this year, as well as over the past 12 months, has gained 2% the past week while the
Further, entry of cable MSOs (multi service operators) like Comcast and Charter Communications has made it all the more difficult. Despite cut-throat pricing competition in the industry resulting in unlimited data plans with several sweeteners, postpaid customer gain is a major positive. Given this backdrop, it is not a bad idea to undertake a comparative analysis of two major players in the telecommunication industry — Verizon Communications Inc. VZ and AT&T Inc. T based on certain parameters.
Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going forward, especially considering their similar patterns. Recent declines in bitcoin may be foreign to traders accustomed to record-breaking returns, but the cryptocurrency's price chart looks awfully familiar to strategists at Morgan Stanley. It reminds the firm of how the Nasdaq traded in 2000, during the tech bubble's heyday.
Citigroup Inc. said Chief Executive Officer Michael Corbat was unaware that the bank was in the process of closing a real estate loan to a Kushner Cos. venture when he met with Jared Kushner. Corbat requested the March 2017 meeting with Kushner, a senior adviser to President Donald Trump, to discuss U.S. trade policy and didn’t discuss the loan or any personal business with Kushner Cos., the bank’s general counsel said in a letter to four Democratic senators. New York-based Citigroup said the Kushner family has been a client for decades and the loan on a Brooklyn real estate project was made with no input from Corbat.
Working remotely is an increasingly popular option for many people, given how expensive it can be to live where many of the jobs are. But can you earn enough to get by while working from home? To help you find out, career-advice website FlexJobs, using data from salary and compensation site PayScale, compiled a list of the 14 most common remote jobs in their database and their average pay. Some of the salaries exceed the national median household income, which was $59,039 in 2016. The No. 1 most common remote job, in fact, pays almost $90,000 a year on average. While some of the job titles on the list, like "nurse" or "teacher," may sound more like conventional in-person positions, FlexJob is
In the latest complication for Qualcomm Inc., China’s regulators are seeking more protections for local companies before approving the U.S. chipmaker’s proposed purchase of NXP Semiconductors NV, according to people familiar with the matter. That could jeopardize Qualcomm’s bid to survive as an independent company. The concerns raised by Beijing have surfaced about a week after President Donald Trump said he was blocking Broadcom Ltd.’s proposed acquisition of Qualcomm to prevent China from stealing a technological march on the U.S. China’s Ministry of Commerce isn’t satisfied with the remedies that Qualcomm has offered so far and has told the company to propose more, said the people, who asked
Warren Buffett said his Berkshire Hathaway Inc. made only one “sensible” stand-alone acquisition last year, and it didn’t do much for his growing pile of cash. Berkshire paid $2.76 billion for its 38.6 percent stake in Pilot Travel Centers LLC, the owner of the Pilot Flying J truck stop chain, according to an insurance filing. Berkshire didn’t disclose the purchase price when it announced the deal in October, and hasn’t revealed the figure in subsequent reports to the U.S. Securities and Exchange Commission. Buffett is seeking large investments that will eat into his excess cash and earn better returns. The company ended last year with $116 billion in cash and Treasury bills amid what Buffett
Shares of Micron MU closed slight lower on Wednesday, just one day before the company is scheduled to release its latest quarterly financial results. This red-hot stock has attracted plenty of attention lately, so we should expect its earnings announcement to make waves throughout Wall Street as investors continue to grapple with fresh market-wide volatility and international trade questions. Micron is one of the world’s leading semiconductor memory solutions companies.
On Mar 19, one of the equity markets’ most closely watched indexes, the Dow, plunged. Tech stock plunge had a cascading effect on overall market as most of the important indexes like S&P 500 and Nasdaq Composite index were also impacted. Meanwhile, yesterday’s decline has pushed the Dow into the negative zone year to date.
If you own FDX stock, you’re probably hoping FedEx Corporation (NYSE:FDX) CEO and founder Fred Smith and the rest of his management team isn’t too worried. However, it would be corporate malpractice in my opinion, if FedEx wasn’t considering the ramifications
Exxon Mobil’s XOM diversified operations and strong focus on both upstream and downstream businesses have helped it to overcome several hurdles over the years, including the times when crude touched multi-year lows. Exxon expects its earnings to grow 135% by 2025, if crude trades at $60 per barrel. The stock seems to be shareholder friendly, as the oil supermajor’s current dividend yield is the highest since 1997.
The Weinstein Co. filed for bankruptcy protection on Monday with a buyout offer in hand from a private equity firm, the latest twist in its efforts to survive the sexual misconduct scandal that brought down co-founder Harvey Weinstein, shook Hollywood and triggered a movement that spread out to convulse other industries. The company also announced it was releasing any victims of or witnesses to Weinstein's alleged misconduct from non-disclosure agreements preventing them from speaking out. "Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers.
The past couple of years has been a rough ride for GoPro, Inc. GPRO and its troubles are far from ending. The leading manufacturer of the world's most handy camera and related accessories has seen its shares fall almost 34% year to date, underperforming the industry’s growth of around 6% by a huge margin. The company has been grappling with sluggish demand for its Hero cameras amid stiff competition from lower-priced action camera alternatives.
The best law schools in the country prepare students for successful and fulfilling careers. Given how expensive those degrees are, though, do they prove worth the cost? Payscale shared data with CNBC Make It as to how much alums of highly ranked law schools in the U.S. earn with 10 or more years of experience. Graduates of Duke University School of Law take home the largest checks, earning a median annual salary of $243,000. Here's how other top programs fare. Yale University Law school ranking: 1 Mid-career median pay: $195,000 Tuition: $62,017 Estimated annual cost of attendance: $85,294 Harvard University Law school ranking: 3 Mid-career median pay: $210,000 Tuition: $63,800 Estimated annual
Facebook CEO Mark Zuckerberg broke his silence on CNN on the crisis over political-advertising firm Cambridge Analytica's access to user data on the social network, outlining concrete steps the company is taking to make sure such a leak doesn’t happen again. Bloomberg's Sue Keenan reports on "Bloomberg Markets." (Headline and description updated to include source of video.) (Source: Bloomberg)
Action Alerts Plus holding Activision Blizzard Inc. (ATVI) has a lot to look forward to as far as revenue growth is concerned, according to analysts at Jefferies. "The primary reason to own the stock is because new digital revenue streams (microtransactions, full-game downloads) are transforming the company into a more recurring profitable model," Jefferies analysts wrote in a March 21 note. The company generated $4 billion in microtransaction revenue in 2017 and has suggested that number could grow by double digits this year. As Jefferies pointed out, that could mean upwards of $400 million in incremental microtransaction revenue. Analyst Timothy O'Shea said that segment represents the highest-margin
These are the companies that Warren Buffett should buy 6:12 PM ET Mon, 26 Feb 2018 | 02:08 The company said Buffett's compensation hasn't changed in more than 25 years. Meanwhile, Buffett manages Berkshire's $170 billion stock portfolio and guided the company's market value to a 20.9 percent annual return from 1965 to 2017 versus the S&P 500's 9.9 percent gain. Buffett's frugality for Berkshire does not end with his salary. The filing also reveals he gave $50,000 last year to the company for the reimbursement of personal expenses such as postage and phone calls. "Mr. Buffett will on occasion utilize Berkshire personnel and/or have Berkshire pay for minor items such as postage or phone calls
U.S. solar stocks enjoyed their best day in almost a month, with the rooftop installer Vivint Solar Inc. climbing the most since June. Optimism that some U.S. companies will win exemptions from import tariffs. SunPower Corp. was among the companies seeking to be excluded from the trade duties, and Garvin Jabusch, chief investment officer at Green Alpha Advisors, said by email Tuesday that SunPower’s case is “particularly strong.” The deadline to file was March 16. The possibility of lower tariffs would mean lower panel prices, Jabusch said.