Yahoo Finance•8 hours agoWells Fargo hit with $1 billion fine
The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of Currency (OCC) announced a combined fine of $1 billion against Wells Fargo (WFC) on Friday. The consent orders from the two agencies described how the bank unfairly disregarded its advertised process of locking-in interest rates for mortgages, as well as unfairly foisting insurance on customers taking out auto loans. If a closing of a mortgage dragged on due to Wells Fargo and not the customer, the bank still charged customers to keep the rates locked — despite this being contrary to policy, the consent order notes.
InvestorPlace•7 hours agoPhilip Morris International Inc. Stock Went Up in Smoke — Go Long
Since the February stock market correction started, Philip Morris International Inc. (NYSE:PM) stock has had a turbulent period of trading. Compare that with a flat stock market — both Philip Morris and Altria Group, Inc. (NYSE:MO) stocks have been decimated. Meanwhile, cannabis stocks like GW Pharmaceuticals plc (NASDAQ:GWPH) have fared much better and are in line with the stock market in general.
Reuters•1 hour agoTrump rails against high oil prices, OPEC pushes back
WASHINGTON/JEDDAH, Saudi Arabia (Reuters) - U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters. "Looks like OPEC is at it again. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.
Zacks•7 hours agoAdvanced Micro (AMD) Q1 Earnings: Is a Beat in the Cards?
Advanced Micro Devices, Inc. AMD is scheduled to report first-quarter 2018 earnings on Apr 25.Notably, the stock has delivered an average four-quarter positive earnings surprise of 35%. In the last reported quarter, the company came up with a positive
- InvestorPlace•yesterday
Walmart Dress Code to Get a Lot More Flexible
Walmart is testing new dress codes in a small number of U.S. stores with the hopes that this more relaxed environment will help to reel in and retain staff in an increasingly tighter labor market. This means that workers will be allowed to wear shirts of any solid color, which marks a shift from its previous option of only having blue or white shirts, according to an employee manual obtained by Bloomberg News. Walmart adds that visible facial tattoos will be forbidden for those hired after April 14, according to the manual.
- InvestorPlace•6 hours ago
7 REITs With Big Dividend Raises Coming
“First-level” investors – those who buy and sell on headlines – mistakenly believe that real estate investment trust (REIT) profits will suffer if rates continue to rise. Overall, rising rates are actually good for the best REITs because it signals a rolling economy. Take the Vanguard REIT ETF (NYSEARCA:VNQ), which is now paying its highest current yield since 2009.
- CNBC Videos•yesterday
Kraken cryptocurrency exchange says it will not comply wi...
Kraken co-founder and CEO Jesse Powell says the cryptocurrency exchange will not comply with the New York attorney general's request for information.
Fortune•yesterdayDead Carcasses and Rodents Found at Farm Behind Massive Salmonella Egg Recall
Unsanitary conditions were found during multiple inspections of a Rose Acre Farms facility in Hyde County, N.C., 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, with rodents, dead carcasses and baby mice observed, along with workers who weren’t following proper sanitary practices.
- FX Empire•2 days ago
Bitcoin Loses Out to Bitcoin Cash – Is it the Beginning of the End?
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.
- InvestorPlace•yesterday
Activision Blizzard, Inc. Will Finish What ‘Fortnite’ Started
On paper, most analysts will agree that Activision Blizzard, Inc. (NASDAQ:ATVI) is enjoying a solid start to this year. Against the January opener, ATVI stock has gained nearly 9%. Despite Activision’s immense reputation in delivering the most compelling first-person shooter games, another company has unexpectedly taken its throne.
- Fortune•yesterday
Should We Call It a Comeback? Former Yahoo CEO Marissa Mayer Is Launching a Tech Incubator
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’
- InvestorPlace•yesterday
A Tech Giant No More: IBM Is Too Small to Compete in the Cloud Era
Caught between obligations to shareholders and employees, IBM (NYSE:IBM) was unable to commit to the $1 billion per quarter needed to compete in cloud early in this decade. IBM was not the only company to make this historic mistake.
- CNBC Videos•6 hours ago
Ford is using bionic suits help employees work safer
Ford is using exoskeleton suits created by Ekso Bionics to help its line workers work safer. EksoVest provides a 15 pound assist on each arm, helping people work overhead longer.
- InvestorPlace•6 hours ago
Philip Morris International Inc.: An Industry Goes Up in Smoke
Philip Morris International Inc. (NYSE:PM) shares fell off a cliff on April 19 after the company reported disappointing earnings. The fall was bigger than the disappointment, but it seemed to portend trouble for tobacco generally and took the whole consumer staples sector of the market down with it. The company — which sells exclusively outside the U.S. and spun-out from Altria Group Inc (NYSE:MO) in 2008 — had net income of $1.65 billion, $1.00 per share, on revenue of $6.9 billion.
- BBC News•9 hours ago
German court rejects ad-block challenge
Germany's supreme court has rejected a legal case that sought to stop people using the popular Adblock Plus program that removes ads from websites. The lawsuit was started three years ago by German publishing giant Axel Springer. It alleged that the way Adblock Plus stopped people seeing adverts on its sites amounted to unfair competition. Axel Springer said it would continue its legal challenge by taking the issue to Germany's Constitutional Court. Free speech Adblock Plus is widely used to stop intrusive pop-up adverts and limit tracking by websites of where people go online. Adblock Plus creator Eyeo, which is based in Cologne, claims the PC version of its software has been downloaded more
- Zacks•7 hours ago
Transocean (RIG) Wins Multiple Contracts as Oil Prices Rise
The first contract secured by Transocean is for its semi-submersible rig, GSF Development Driller I in Australia. The contract is an extension of the rig’s current work, which is scheduled to terminate in September 2018. Quadrant Energy intends to extend the contract, which will now deploy the rig for two more months — November and December.
- Bloomberg•yesterday
CEO Awarded $60 Million to Lead Linn Energy Firm Past Bankruptcy
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,
Associated Press•11 hours agoZTE protests US penalty, says it is seeking solution
ZTE Corp., one of China's biggest tech companies, warned Friday a ban on access to U.S. technology threatens its survival and said the company is looking for a legal solution. State-owned ZTE "may enter a state of shock," which will hurt its employees and U.S. suppliers, its chairman said, according to Chinese news reports. The ban was imposed Monday in a case involving exports of telecoms equipment to Iran and North Korea.
- Zacks•yesterday
Are Cigarettes Finally Dead? Phillip Morris Plunges
Other industry players are falling today as well on the news as investors ruminate on an uncertain future for tobacco. U.S. Marlboro producer Altria (MO) is down over 7% and British American Tobacco (BTI) – owner of R.J Reynolds – is down almost 6%. Philip Morris has missed the Zacks Composite Earnings estimate in each of the last 4 quarters due to regulation, increased taxation and an overall decline in demand for tobacco products.
- barrons.com•7 hours ago
AT&T Streaming Service May Give Other Carriers Hang-Ups
Shares of AT&T (T) are higher on news it may soon launch a low-cost streaming service. A report from The Wall Street Journal details the telecom's plans to launch a $15 a month "skinny bundle" service without sports, according to testimony from its CEO during the antitrust case for its proposed acquisition of Time Warner (TWX). That would make AT&T Watch, expected to hit the market in the coming weeks, one of the lowest prices for a nationwide streaming live TV plan. Wells Fargo's Jennifer Fritzsche writes that the move shows AT&T is already making post-court plans. The service would be available to any customer--so a Verizon Communications (VZ) wireless subscriber can sign up--but it's free
- Zacks•5 hours ago
What's in the Cards for Glaxo (GSK) This Earnings Season?
GlaxoSmithKline plc GSK is scheduled to report first-quarter 2018 results on Apr 25 before market open. Last quarter, the company delivered a positive surprise of 4.35%. Shares of Glaxo shares have outperformed the industry so far this year.
InvestorPlace•10 hours agoTrade of the Day: Be Careful in Advanced Micro Devices, Inc. After Earnings
Semiconductor stocks as a group had a difficult day on Thursday as a broad-based sell-off in this space pushed many of these stocks lower. In my eye however the next major catalyst are the upcoming earnings reports. For Advanced Micro Devices, Inc. (NASDAQ:AMD) the earnings report will hit on April 25 after the close of trading for the day.
- Zacks•9 hours ago
Weatherford (WFT) to Report Q1 Earnings: What's in the Cards?
Weatherford International Ltd. WFT is expected to report first-quarter 2018 earnings on Apr 24, after the closing bell.In the last reported quarter, the leading oilfield services company delivered a negative earnings surprise of 57.1%. Weatherford posted
- Bloomberg•22 hours ago
AT&T's CEO Stephenson Pitches Time Warner Deal to Judge
AT&T Inc. Chief Executive Officer Randall Stephenson made his grandest pitch yet for the company’s planned takeover of Time Warner Inc., describing the $85 billion deal as a crucial step to the judge who holds the deal’s fate in his hands. Stephenson, who honed his defense of the acquisition by selling it first to his board of directors and then to shareholders, testified Thursday in federal court in Washington that the merger will help the combined company compete with streaming rivals such as Netflix Inc. and Amazon.com Inc. The AT&T CEO began his testimony by describing his 35-year history at the company.
- Zacks•7 hours ago
Ford (F) Set To Report Q1 Earnings: What's in the Cards?
Ford Motor Co. F is set to report first-quarter 2018 results on Apr 25, after market closes. Last quarter, Ford missed estimates by 7.1%. In the past six months, shares of Ford have outperformed the industry it belongs to.
