Apple (AAPL) is making a major investment in the U.S. economy. In a release on Wednesday afternoon, the world’s largest publicly-traded company said it would make a “direct contribution” of $350 billion into the U.S. economy over the next five years. The company said this number does not include ongoing tax payments, or tax revenue generated by wages paid to employees or sales tax on Apple products.
The iPhone cycle will disappoint this year, according to one Wall Street analyst, who issued a rare downgrade of one of the market's most popular stocks. Longbow Research lowered its rating for Apple (AAPL) shares to neutral from buy, predicting the company will ship fewer iPhones than expected in fiscal 2018. "Apple found iPhone price elasticity with the introduction of the X blunting some demand.
If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. More than $2,000 of that decline came in about 24 hours, after South Korean Finance Minister Kim Dong-yeon indicated the country may crack down on cryptocurrency trading to discourage speculation. For the many doubters who can’t believe things have come this far—and for Bitcoin owners who can see how much they might lose—the big question is what it would take to knock the price back further.
Retail REIT Realty Income Corporation O has announced a hike in its common stock monthly cash dividend, rejoicing shareholders. This marks the company’s 95th dividend increase since its NYSE listing in 1994. The company will now pay 21.90 cents per share against 21.25 cents paid earlier.
Nearly every major cryptocurrency—including bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash—has experienced substantial losses on Tuesday, highlighting concerns over potentially catastrophic regulatory changes in key Asian markets. Similarly, Litecoin has shed about 16.4%, Ripple has crashed more than 24.7%, and Bitcoin Cash has dropped roughly 20.7%. The total market capitalization of the 1,450 cryptocurrencies tracked by CoinMarketCap slumped from a 24-hour high of $713.64 billion to a low of $536.65 billion earlier this morning.
Per reports, biotech bigwig Celgene Corporation CELG is looking to acquire smaller biotech Juno Therapeutics JUNO. Celgene is on the look-out of new deals and acquisitions given a lacklustre 2017. Celgene suffered a series of setbacks over the last few months. Earlier in Jan 2018, Celgene announced it will acquire Impact Biomedicines for an upfront amount of $1.1 billion.
The Middle East's largest airline, Emirates, announced Thursday it struck a deal with Airbus to purchase 20 A380 aircraft with the option to buy 16 more in a deal worth $16 billion, throwing a lifeline to the European-made double-decker jumbo jets. "This new order underscores Airbus' commitment to produce the A380 at least for another ten years," said Airbus chief salesman John Leahy. Al Maktoum and Leahy made the comments in a statement after the deal was signed in Dubai on Thursday morning.
Apple on Wednesday announced plans to open a new campus in the United States and said it would hire 20,000 new employees over the next five years. It also says it plans to pay $38 billion in repatriation tax. CNBC estimated that with the new repatriation tax rate of 15.5%, the company would bring nearly all its overseas cash, or about $245 billion, back to the United States.
Shares of Kinder Morgan Inc. rose nearly 2% late Wednesday after the oil and gas infrastructure company reported fourth-quarter adjusted per-share earnings and sales above Wall Street expectations. Kinder Morgan said it lost $1.05 billion, or 47 cents a share, in the quarter, versus a net income of $170 million, or 8 cents a share, in the year-ago period. Adjusted for one-time items, Kinder Morgan earned 21 cents a share in the quarter, compared with 18 cents a share a year earlier.
Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.) Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. (See also: Bitcoin Price Slides Further; Ripple Builds Lead Over Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced in
Question: My wife died two years ago at age 53. I am currently 53. At the time, I was told that I would receive 80% of her Social Security when I reached retirement age in addition to my Social Security if I did not remarry. Is this true? We both worked long enough to qualify for Social Security at retirement age. Answer: Looks like you got some bad information, according to Joe Elsasser, president of Covisum and the developer of Social Security Timing. "The general rule of thumb for coordinating all benefits is that a beneficiary receives the higher of his or her own benefit or the benefit of the deceased," he said. That said, even after the law changes a few years ago, Elsasser said there are
If a rogue group declares independence from the country's most populous state and no one cares, does it deserve news coverage? New California, a group with conservative leanings, has declared independence from the state of California, calling the left-leaning state 'ungovernable.' "Well, it's been ungovernable for a long time. High taxes, education, you name it, and we're rated around 48th or 50th from a business climate and standpoint in California," said founder Robert Paul Preston, according to CBS News. The group cites Article 4, Section 3 of the U.S. Constitution as a legal precedent for its attempt to leave the state. The group wants to divide rural California counties in the north and
Pipeline operator, Energy Transfer Partners ETP recently agreed to divest its compression units, CDM Resource Management and CDM Environmental & Technical Services LLC, to natural gas compression services provider, USA Compression Partners, LP USAC for about $1.8 billion. Per the deal, USA Compression will pay $1.225 billion in cash along with 19.2 million of its common units and 6.4 million of its Class B units to Energy Transfer Partners.
The investigation comes as Broadcom pursues a hostile takeover of Qualcomm in a $103 billion deal. Since the FTC would likely review any merger for anticompetitive practices, the current probe could make regulatory approval more challenging. Broadcom was recently issued subpoenas that seek an extensive amount of information, according to the Wall Street Journal, which was the first to report the probe on Wednesday.
Apple (AAPL) is in the spotlight. Its Chinese supplier Catcher Technologies is denying allegations by a New York rights group that it makes employees work 10 hours a day in polluted conditions without proper overtime pay or safety measures in place. Apple and Catcher both claim they investigated the issues and found no evidence of any violations.
As cryptocurrency markets around the world get smoked in what's been called a "bloodbath," Bank of America CEO Brian Moynihan took the time to warn customers about investing in highly volatile bitcoin. "We’ve basically told people that they could buy it in other accounts, but not at Merrill Lynch. When bitcoin futures launches in December, Bank of America Merrill Lynch, Citigroup, and JPMorgan notably did not provide their customers access to the contracts.
Shares of Ford (F) are falling on Wednesday afternoon, after the company issued disappointing guidance late Tuesday. Ford said that it plans to make big investments in autonomous and electric vehicles, not surprising given similar plans by rivals including General Motors (GM) and Tesla (TSLA). Yet investors were more concerned about Ford's bottom line: The automaker expects 2017 earnings to come in at an adjusted $1.78 a share, lower than the $1.84 a share analysts were expecting, while it projected 2018 earnings of $1.45 to $1.70 a share, compared to the $1.59 a share consensus. Not everyone was down on the news, however. Morgan Stanley's Adam Jonas and his team called Ford's warning a "step
General Electric Co indicated it is looking closely at breaking itself up on Tuesday as the conglomerate announced more than $11 billion in charges from its long-term care insurance portfolio and new U.S. tax laws. Chief Executive John Flannery has previously raised the idea of selling pieces of the largest U.S. industrial company, but went slightly further on Tuesday, saying GE is "looking aggressively" at a spin-off or other ways to maximize the value of GE's power, aviation and healthcare units.
BitConnect isn’t letting this week’s closure of its cryptocurrency exchange and lending operations deter it from attempting to raise funds though another digital token offering. That isn’t sitting well with existing coin owners, who have seen the value of the tokens tumble by as much as 95 percent since Monday. Critics on Twitter and Reddit have renewed allegations of fraud and are equating the company to a Ponzi scheme, where an operator pays off old investors by raising money from new ones. In a posting on BitConnect’s website Wednesday, the company predicted its tokens will rebound and promised its exchange will “work as usual” Thursday. The venture previously attributed the shutdown to “continuous
U.S. stocks jumped on Wednesday and the Dow closed above 26,000 for the first time as investors' expectations for higher earnings lifted stocks across sectors. The Dow also hit an all-time high in intraday trading. The S&P 500 posted a record closing high.
The leader of the free world is healthy as a horse. Rear Adm. Dr. Ronny Jackson gave President Donald Trump a clean bill of health during a news conference Tuesday. Amid scrutiny of Trump's mental health by political adversaries, the doctor said that the president's mental health is fine. Here are some of the highlights from Jackson's news conference. Trump Takes Ambien The doctor said that Trump takes some the sedative Ambien when he goes on long flights internationally. Normally, the president sleeps between four and five hours per night. Trump Wants to Trim Weight While this may not pass the eye test, Jackson insists that the president is 6'3 and weighs 239 pounds. The doctor also said
Apple to create 20,000 jobs over the next 5 years 2 Hours Ago | 01:21 Apple just announced on Wednesday it will bring back hundreds of billions of dollars from overseas to fund investment in the U.S. and likely increase its capital returns. "Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made," the company said in the release. Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are planning a $245 billion repatriation. The tax overhaul, which President Donald Trump
Alcoa Corp. AA just released its fourth quarter 2017 financial results, posting adjusted earnings of $1.04 per share and revenues of $3.17 billion. Currently, Alcoa is a Zacks Rank #3 (Hold), and is down over 5% to $54 per share in after-hours trading shortly after its earnings report was released. Alcoa posted a Q4 net loss of $196 million, which includes the financial impacts of previously announced strategic priorities.