Former Yahoo Chief Executive Officer Marissa Mayer is starting a technology business incubator, Lumi Labs, with longtime colleague Enrique Muñoz Torres. The venture will focus on consumer media and artificial intelligence, according to the company’
Big tobacco is still looking for a savior, if Philip Morris International Inc. is any guide. Shares in the cigarette giant plunged as much as 18 percent after its latest earnings report showed that $4.5 billion spent on four new products are failing to win over new customers. Sales growth of the iQos, a device that heats a tobacco plug without setting it on fire, has been slowing after initial success in Japan. Philip Morris, which sells Marlboros outside the U.S., reported revenue excluding excise taxes of $6.9 billion, less than the $7.03 billion projected by analysts in a Bloomberg survey. The share decline, to as low as $83.50, was the biggest since the company split from Altria Inc. in 2008.
The Bitcoin bulls didn’t get the memo on Wednesday, with Bitcoin only managing a 3.56% rise on day, partially reversing Monday and Tuesday’s losses, to end the day at $8,169.5. A morning rally saw Bitcoin break out from the 23.6% FIB Retracement Level of $7,996.57 to hit a morning $8,168.8 high, breaking through the first major support level of $8,098.87 before seeing a pullback to an early afternoon $7,907.4 to call on buyer support at the 23.6% FIB Retracement Level of $7,996.57. A late afternoon rally saw Bitcoin hit an intraday high $8,237.2, testing the day’s 1st major resistance level for a 2nd time and this time managing to hold on through to the day’s end.
Before a U.S. farm voluntarily recalled 207 million eggs, government inspectors found rodents scurrying in manure pits, equipment that was coated with grime and food debris, and outside a swarm of “large flying insects too numerous to count.” Unsanitary conditions were found during multiple inspections of a Rose Acre Farms facility in Hyde County, North Carolina, that allowed for the “proliferation and spread of filth and pathogens throughout the facility that could cause the contamination of egg processing equipment and eggs,” according to a report from the U.S. Food and Drug Administration detailing inspections. A review of the farm’s pest control records flagged an ongoing rodent infestation,
Shares in Apple Inc and its suppliers fell on Thursday after a raft of analysts read a prediction of softer smartphone sales from Taiwan Semiconductor Manufacturing Co Ltd as driven chiefly by concern about demand for iPhones. TSMC, the world's largest contract chipmaker and a major Apple supplier, revised its full-year revenue target to the low end of its earlier forecast. "Apple represents nearly 20 percent of TSMC's revenue so the outlook potentially points to weaker-than-anticipated iPhone demand," Atlantic Equities analyst James Cordwell told Reuters.
CNBC's Morgan Brennan talks with Blue Origin CEO Bob Smith about the company's new engine for it's latest suborbital rocket and new opportunities in space exploration.
An AT&T Inc. executive told a judge that the company’s contentious relationship with Comcast Corp. is evidence that the two rivals wouldn’t coordinate to withhold content from upstart distributors if AT&T’s acquisition of Time Warner Inc. goes through, as the U.S. claims.
Amazon CEO Jeff Bezos’s annual shareholder letter, released on Wednesday evening, included an unexpected reveal. Your first question might be to wonder how that number compares to other subscription services for streaming content. To be sure, these are not apples-to-apples comparisons, since Prime is not only for video—in fact, it’s likely that the vast majority of Prime members pay for the service to get the shipping benefits, not for Prime Video.
Shares of several major semiconductor industry stocks were down in early morning trading Wednesday after the latest quarterly earnings reports from equipment suppliers ASML Holding ASML and Lam Research LRCX caused hesitation.Nevertheless, there were
The same day Linn Energy Inc. exited bankruptcy, it awarded Chief Executive Officer Mark Ellis a $60 million compensation package, more than three times the amount Exxon Mobil Corp. paid its CEO.Ellis’s pay included an equity grant worth $58 million,
David Hogg, an 18-year-old high school senior and survivor of the mass shooting at Marjory Stoneman Douglas High School, is now an outspoken gun law activist. He took to Twitter on Tuesday to encourage a boycott of BlackRock (BLK) and The Vanguard Group. BlackRock, Invesco (IVZ) and Vanguard are the top three institutional holders of American Outdoor Brands (AOBC), the parent company of Smith & Wesson Corp., one of the world’s largest gun manufacturers. BlackRock and Vanguard are also the largest holders of gunmaker Sturm Ruger (RGR).
This includes some pretty great dividend stocks. There are now plenty of dividend stocks that have wonderful long-term futures that have only been blurred by the recent downturn and volatility. There’s nothing wrong with them, their cash flows or other important dividend-related metrics.
A warning from Taiwan Semiconductor (TSMC) , the world's largest contract chipmaker and Apple supplier, on soft demand for smartphones and on the semiconductor industry's growth this year sparked a tumble in chip stocks. Apple's (AAPL.O) shares also fell 2.4 percent, with analysts telling Reuters that TSMC's warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq.
Philip Morris International Inc. led a sell-off in tobacco companies in the U.S. and London after its first-quarter revenue trailed analysts’ estimates. The stock plunged the most on record, pushing shares of competitors including Imperial Brands Plc, Altria Group Inc. and British American Tobacco Plc deeper into negative territory for 2018. The latest results from the maker of Marlboro and other top cigarette brands underscored the struggle the industry has had shifting to new products as global smoking rates decline.
Apr.18 -- China is said to delay the release of the new rules governing its $16 trillion asset management products industry. Bloomberg's Stephen Engle reports on "Bloomberg Daybreak: Asia." (Headline and description changed to reflect the latest news on China's asset management business rules.)
Here are a few things to know about the Philip Morris earnings report for the first quarter of 2018. This is an increase over its earnings per share of 98 cents from the same time last year. It also beat out Wall Street’s earnings per share estimate on 90 cents for the quarter.
DUBAI/LONDON (Reuters) - Top oil exporter Saudi Arabia would be happy to see crude rise to $80 or even $100 a barrel, three industry sources said, a sign Riyadh will seek no changes to an OPEC supply-cutting deal even though the agreement's original target is within sight. OPEC is closing in on the original target of the pact - reducing industrialised nations' oil inventories to their five-year average. There is no indication yet, however, that Saudi Arabia or its allies want to wind down the supply cut.
Shares of tech giants Apple AAPL and Nvidia NVDA opened nearly 2% lower on Thursday after Taiwan Semiconductor Manufacturing TSM, a key chip partner for both companies, posted lower-than-expected revenue guidance for the second quarter. Taiwan Semiconductor said Thursday its revenue for the June quarter will likely fall in the range of $7.8 billion to $7.9 billion, lagging our consensus estimate of $8.5 billion. The company posted adjusted earnings of 59 cents per share for the first quarter, missing the Zacks Consensus Estimate by a penny.
Elaine Wynn is looking to reconstitute the board of Wynn Resorts Ltd., the casino company she co-founded, after a sex-harassment scandal toppled her ex-husband Steve Wynn from his job as chief executive officer. Wynn, who settled all litigation with her ex-husband this week in exchange for $25 million, said she wanted to remake the board with a majority of new members, according to a regulatory filing Tuesday. Steve Wynn stepped down from the luxury resort operator in February after a series of articles detailed his alleged harassment of female employees at the company. Wynn subsequently sold all of his shares and settled a long-running dispute with his ex-wife that now allows her to vote or sell her 9 percent stake in the company.
After the crash come the claims. Being on an airplane more than six miles in the air when an engine blows up and sends shrapnel through a window is an experience so scary that aviation lawyers say it’s not just the family of the woman killed on a Southwest Airlines Co. flight this week who could have a case. “All of the passengers here, and the crew, will likely have claims,” said Robert Clifford, founder of Chicago-based Clifford Law Offices, who’s been involved in every domestic commercial aviation disaster since the 1970s. “Even if these people were not physically injured,” he said, “many, many of them will experience symptoms of post-traumatic stress disorder.” The people who were sending
Energy sector earnings season starts rolling later this week, and as always, the party will kick off with the so-called big three oilfield services providers: Schlumberger Ltd. Schlumberger is a holding in Jim Cramer's Action Alerts PLUS. While oilfield services stocks have been riding the energy stock outperformance wave of late, investors are mostly still sitting on the sidelines, according to Tudor, Pickering, Holt & Co. analysts.
Offshore oil driller Seadrill plans to emerge from Chapter 11 bankruptcy in late June or early July to catch the rising wave of rig market activity, its chief executive told said on Wednesday. The company won U.S. court approval on Tuesday for its multi-billion dollar debt restructuring plan after reaching a deal with more than 40 banks, unsecured creditors and shipyards. Obviously, we would like to do it as fast as possible," CEO Anton Dibowitz told Reuters.
President Donald Trump and Japan’s prime minister Shinzo Abe on Wednesday agreed to start a fresh dialogue and establish a new framework for trade and investment between the two countries. The trade talks are aimed at balancing United States’ trade deficit with Japan. Trump has been critical of Japan in recent times, describing the terms of trade between them as “not fair” because of the huge trade deficit with that country.
It’s JPMorgan Chase & Co. versus a Cantor Fitzgerald strategist who called this month’s S&P 500 bounce in the battle to predict what’s next for U.S. stocks. On the bullish side: JPMorgan strategists including Shawn Quigg and Marko Kolanovic, who say investors should continue to position for upside in U.S. equities throughout earnings season, perhaps via the sale of S&P 500 puts to fund call spreads, or with upside bets on single stocks expected to outperform into earnings. Cantor Fitzgerald says not so fast.
Micron Technology, Inc.(NASDAQ:MU) beat earnings expectations last month and closed at $61.07 on March 21, just off 52-week high of $63.42. Since then, Micron stock has retreated, and the stock now sits at $48.46 per share. Micron stock has more than doubled since December 2016.