Fast-food restaurant chain El Pollo Loco filed for an IPO and plans to list on the Nasdaq under the ticker LOCO. CNBC's Dominic Chu reports.
By Alexander Cornwell TOULOUSE, France (Reuters) - Airbus is not planning a larger A350 jet and will focus on developing existing versions of the widebody aircraft, an executive said on Tuesday. Last summer, the European planemaker shelved tentative plans for a bigger A350 that would compete more directly with Boeing's new 777X plane currently under development. Lucas-Ugena earlier told reporters that Airbus remained focused on its existing A350-900 and A350-1000 jets.
Investors should brace for a possible replay of the 1987 stock market crash later this year, given this month's slump came against the backdrop of Federal Reserve interest rate hikes and rising inflation, Scott Minerd, Global Chief Investment Officer at Guggenheim Partners, said on Tuesday. “Eventually the Fed will acknowledge that three rate hikes will not be enough, but it is going to raise rates four times in 2018, and market speculation will increase that there may be a need for five or six rate hikes. On Monday Oct. 19, 1987, following large declines on Asian and European markets the previous week, the Dow Jones Industrial (.DJI) Average plunged 508 points, or 22.6 percent, for the biggest-ever single day decline in percentage terms by the blue-chip benchmark.
French ice dancers Guillaume Cizeron and Gabriella Papadakis took second place in Monday’s short program despite a wardrobe malfunction. During the duo’s performance, Papadakis’ costume appeared to unhook from around her neck, exposing her left breast for part of the routine. The malfunction did seem to impair their final score of 81.93, but not enough to stop them from finishing second behind Scott Moir and Tessa Virtue of Canada, who scored 83.67.
Vitalik Buterin, the co-founder of the Ethereum blockchain and its associated cryptocurrency, does not want people throwing their life savings into virtual coins just yet. “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time,” he tweeted this weekend. Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time.
If you watched the short program portion of the ice dancing competition at the 2018 Winter Olympics, there’s a good chance you came away with “Despacito” stuck in your head. Three pairs opened their program during Sunday’s figure skating event in PyeongChang with versions of the smash hit by Luis Fonsi and Daddy Yankee, which became the most streamed song ever over the summer with more than 4.6 billion YouTube views. Korea’s Alexander Gamelin and Yura Min were next to break it down to the popular Latin jam, with Polish skaters Maksym Spodyriev and Natalia Kaliszek — whose 66.06 was the highest score of the three teams — following shortly afterward.
The new CEO of Las Vegas-based Wynn Resorts said he was not aware of any of the sexual misconduct accusations against casino mogul Steve Wynn before they surfaced last month. Wynn Resorts is facing scrutiny by gambling regulators in Nevada and Massachusetts, where the company is building a roughly $2.4 billion casino just outside Boston. Steve Wynn has vehemently denied the misconduct accusations and attributed them to a campaign led by his ex-wife.
Billionaire investing legend Carl Icahn of Icahn Capital has gained a reputation as a savvy investor and fearsome corporate raider, one who has tangled with the likes of Blockbuster Video and Time Warner in an effort to improve the value of his investments. If his wealth is anything to go by, he’s been rather successful in that regard. The 82-year-old is currently ranked 79th on Forbes’ real-time list of the world’s billionaires, with a personal fortune estimated at $17 billion. Icahn came to greater attention among the American public following the Presidential elections in 2016, when he was named a special advisor on regulatory reform by fellow billionaire Donald Trump. Icahn was quickly caught
The deal is a potential lifeline for a slimmed-down Rite Aid that saw its negotiating power for generic drugs weaken when it sold nearly half of its stores to larger rival Walgreens. Rite Aid shares rose were up about 25 percent at $2.66 in premarket trading. Depending on whether Rite Aid shareholders chose to be paid in cash and Albertsons stock or only stock, the deal values Rite Aid at between $1.30 and $2.65 per share, Evercore ISI analyst Ross Muken said.
Stockton, California, is set to experiment with a universal basic income plan in which select individuals will be given $500 a month, no strings attached.
On Feb. 14, a gunman walked into Marjory Stoneman Douglas High in Parkland, Fla. and shot and killed 17 people, including 14 students. The aftermath of the tragic shooting followed similar patterns: politicians sent their thoughts and prayers to the victims and discussed “the difficult issue of mental health“, and the price of shares in gun manufacturers went up. A group of students of Marjory Stoneman Douglas High who survived the shooting have started an organization called “March for Our Lives.” Their mission statement emphasizes the need to make the lives of students and teachers the nation’s “top priority” and calls on students across the country to join their cause.
In the past six months, Skyworks shares have advanced a measly 1%, and over the past year shares are up less than 12%. Skyworks Solutions is poised to capitalize on the growth of the Internet of Things. The share price continues to amble, even as the company excels, because Skyworks has been given the dreaded label of being an Apple, Inc. (NASDAQ: AAPL) supplier.
Buffett and Munger have been critics of fees charged to investors by fund managers. Warren Buffett’s right-hand man, Charlie Munger, the vice chairman of Berkshire Hathaway (BRK-A, BRK-B), said they had an “easier world” than the young investors of today face. “I don’t think you’re going to get the kind of results we got by just doing what we did,” Munger, 94, said at the Daily Journal’s (DJCO) annual meeting in Los Angeles last week.
Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin. The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned. The price of bitcoin BTCUSD, +1.61% has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington. “Not sure who that big buyer
China reportedly came close to getting its hands on the U.S. nuclear codes. Fox News military analyst Gen. Jack Keane (Ret.) weighs in.
One of the biggest fears among workers aged 55 and older is running out of money in retirement. Considering about half of those workers don't have much in the way of retirement savings, they absolutely should be concerned their meager nest eggs won't last. It's hard to live off a retirement account with only a couple years' worth of living expenses.
Venezuela will launch a pre-sale of its commodity-backed "petro" cryptocurrency on Tuesday. President Nicolas Maduro hopes the country's own digital currency will help it to make financial transactions and get around Western sanctions. Both the United States and the European Union have imposed economic sanctions on Venezuela over their opposition to its autocratic government. Last year, the Economist Intelligence Unit's Democracy Index downgraded Venezuela from a "hybrid regime" to an "authoritarian regime" due to its "continued slide towards dictatorship." Venezuela's petro token will be backed by its oil, gas, gold and diamond reserves, according to the government. The country's cryptocurrency
Come what may, ice dancing virtuosos Tessa Virtue and Scott Moir of Canada were determined to finish on top at the 2018 Winter Olympics in PyeongChang, South Korea. To the dramatic refrains of their Moulin Rouge medley, the popular pair of Virtue and Moir gave a picture-perfect performance of twizzles, surprising lifts and synchronized steps. This is the Moir-Virtue team’s third Olympic gold in ice dancing, after winning in 2010 in Vancouver and helping Canada snag a team gold this year in PyeongChang.
For decades, Saudi Arabia was the voice of moderation within OPEC, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. Thanks to OPEC-led production cuts, crude prices are double their level two years ago and bloated oil stockpiles are almost back to normal. Yet Saudi Energy Minister Khalid Al-Falih wants to go further. Producers should keep cutting for the whole year, even if it causes a small supply shortage, Al-Falih said. “If we have to overbalance the market a little bit, then so be it,” he told reporters in Riyadh last week. Source: IEA Saudi Arabia faces unprecedented pressures as Crown Prince Mohammed Bin Salman embarks
David Tepper of Appaloosa Management expressed confidence in the market at the beginning of this year, telling CNBC that the market looked almost as cheap at the beginning of this year as it did at the beginning of last year, buoyed by corporate tax cuts. That confidence was reflected in the fourth-quarter growth spurt that Appaloosa undertook, as the billionaire investor poured money into the market, hiking the value of his hedge fund’s 13F portfolio by 50% to $10.7 billion according to the 13F that Appaloosa filed with the SEC last week. Among the major stocks that Tepper poured money into during the previous quarter were Facebook Inc (NASDAQ:FB), Apple Inc. (NASDAQ:AAPL), T-Mobile US Inc (NYSE:TMUS),
Barron’s colorless black and white cover shows a broken General Electric logo with this dramatic advice: Value investors, beware. GE faces big risks, and its shares are no bargain. The problem is that Barron’s dire graphics and categorical warning are unsupported by the article, itself. Worse, for investors who heed the warning, it comes just when GE becomes an excellent contrarian buy/hold opportunity. Disclosure: Author recently established a position in General Electric So, what’s wrong with the Barron’s article? Barron’s simply explains why the stock is down 50% from the last time Barron’s wrote about GE: “General Electric Shares Could Return 15%” (June 17, 2017). Everything Barron’s says has
Shares of Alaska Air Group, Inc. ALK have declined more than 2% ever since it released its traffic results for January 2018, last week. In the first month of 2018, the company’s consolidated traffic (measured in revenue passenger miles or RPMS) increased
By Steve Keating GANGNEUNG, South Korea (Reuters) - Canada thumped the Olympic Athletes from Russia 5-0 on Monday to book their spot in the Olympic women's ice hockey final and renew one of the Winter Games's greatest rivalries. Canada have played for gold at every Winter Games since women's hockey became part of the Olympic program in 1998 and for the fifth time in six Winter Games will face off against the United States. "We have something special here and we're ready our coaching staff has prepared us as best they can and we just need to go out and just play," Canada forward Meghan Agosta told reporters.
As an investor, you should be getting excited about the recent bump in oil prices. This is the best oil price environment we've seen in a long, slow, and painful three years. If you're not an oil investor yet, though, the early February market correction has beaten down the prices of some promising companies.
Alibaba Group Holding Ltd. (NYSE: BABA) co-founder and executive chairman Jack Ma first introduced the term "New Retail" in a letter to shareholders in late 2016. Ma came up with the word combo to describe his ambitious plans to use data and technology to help save brick-and-mortar stores, by combining the best of offline and online shopping. The physical store locations transformed by Alibaba through New Retail initiatives now allow customers to scan items for more information, pay using facial recognition, and order items sent directly to their homes.
Chesapeake Energy Corporation CHK is slated to report fourth-quarter 2017 results on Feb 22, before the opening bell.In the trailing three months, the company reported a positive earnings surprise of 20.00%. Chesapeake beat the Zacks Consensus Estimate