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Former NFL Player Jimmy Kennedy talks the racism he faced at a branch of JPMorgan

Last week The New York Times published an article detailing allegations of racism at Phoenix-area branches of JPMorgan. While not addressing the report directly, Jamie Dimon, JP Morgan's CEO, emailed employees late Friday saying "We have done some great work on diversity and inclusion, but it’s not enough." Jimmy Kennedy, a former NFL football player, whose recorded conversations are the basis for the NY Times report joined The Final Round to discuss.

  • Business
    Barrons.com

    The Dow Is Down 1000 Points. Here’s What History Says Happens Next.

    From a technical perspective, the S&P 500 should find support near its Jan. 31 low of 3225.52, according to Macro Risk Advisors' John Kolovos. That's right about where the S&P 500, at 3,228.99, is now, and if that breaks a full-blown correction is likely in play. This is the type of distributive selling that will require a good and proper reset in price, sentiment and or time on a break,” he writes.

  • Business
    TheStreet.com

    Palo Alto Plummets on Revenue Miss, Weak Guidance

    Palo Alto Networks shares were falling sharply after hours Monday after the company reported second quarter revenue results that missed analyst expectations for the period. The Santa Clara-based cyber security solutions provider reported second quarter earnings of $1.19 per share on revenue of $816.7 million. Analysts were expecting the company to report earnings of $1.12 per share on revenue of $843.26 million.

  • Business
    NerdWallet

    How the IRS Knows If You Cheat on Your Taxes

    Those forms, called information returns, typically are records of certain payments you received or made during the tax year that you usually need to report on your tax return. Some of the most common information returns are W-2s, which report wages earned from a job, and 1099s, which report money received for things such as freelance work, dividends or interest. But other money moves you make could put information returns in the IRS' mailbox, too, says Ignatius Jackson, a certified public accountant in Phoenix.

  • Here are the worst-performing stocks Monday as investors panic over the coronavirus
    Business
    MarketWatch

    Here are the worst-performing stocks Monday as investors panic over the coronavirus

    a href="https://www.marketwatch.com/story/here-are-the-worst-performing-stocks-monday-as-investors-panic-over-the-coronavirus-2020-02-24? siteid=yhoof2" (UNH) -7.5% -5.2% -9.1% 18.0% American Express Co.

  • Gilead Surges After WHO Comments on Virus Drug Testing
    Business
    Bloomberg

    Gilead Surges After WHO Comments on Virus Drug Testing

    Gilead's compound, remdesivir, has been rushed into a clinical trial in China, where the illness has infected tens of thousands of people. Remdesivir is the “one drug right now that we think may have efficacy,” Bruce Aylward, an assistant director-general at the World Health Organization, said at a briefing in Beijing. Gilead shares rose 4.6% to $72.90 on Monday, the highest closing level since October 2018.

  • UnitedHealth stock plunges toward worst day in nearly 9 years as Sanders’ Nevada win stokes investor fear
    Business
    MarketWatch

    UnitedHealth stock plunges toward worst day in nearly 9 years as Sanders’ Nevada win stokes investor fear

    Shares of UnitedHealth Group Inc. plunged toward their worst day in nearly 9 years Monday, as the narrative around a potential Bernie Sanders nomination may have swung to negative from positive following the senator's surprisingly big win in Nevada. Other health insurer stocks also took deeper dives than the broader stock market in afternoon trading. Shares of Centene Corp. (CNC) , which provides programs and services to government-sponsored health-care programs, plunged 10.2% to pace the 492 of 505 stocks on the S&P 500 index (SPX)  that were losing ground.

  • Business
    Barrons.com

    Stock Trading Will Be Halted if the Market Falls Too Much. It Isn’t Even Close.

    Level One Breach A 7% decline in the S&P 500 from the prior day's close would trigger a so-called level one breach, where trading is halted for 15 minutes. That level on Monday is 3104.11. The S&P 500 closed at 3337.75 on Friday).

  • 'Flat earther' dies in rocket crash
    U.S.
    Associated Press Videos

    'Flat earther' dies in rocket crash

    A California man who said he wanted to fly to the edge of outer space to see if the world is round has died after his home-built rocket blasted off into the desert sky and plunged back to earth. Feb.

  • Markets ‘powered through’ SARS, but the coronavirus outbreak is different, Cowen says — and here’s why
    Business
    MarketWatch

    Markets ‘powered through’ SARS, but the coronavirus outbreak is different, Cowen says — and here’s why

    U.S. stocks may not be able to “power through” the coronavirus as they did with the SARS outbreak and the travel industry will take longer to recover, analysts at broker Cowen are warning. Global stocks tumbled on Monday as the spread of the coronavirus outside China intensified, with Italy and South Korea reporting a spike in new cases. The Dow Jones Industrial Average (DJIA) lost 760 points shortly after the open, and is now 1% down year-to-date, while the S&P (SPX) fell 2.5% in early trading and is 0.7% up so far in 2020.

  • Why Fidelity 401(k) Millionaires Average $1.46 Mil Balances
    Business
    Investor's Business Daily

    Why Fidelity 401(k) Millionaires Average $1.46 Mil Balances

    The number of people with $1 million or more in 401(k) accounts in plans run by Fidelity Investments rose to a record 233,000. And the number of IRA millionaires — savers with balances of $1 million or more in accounts held at Fidelity — hit 208,000, also a record. Fidelity 401(k) Millionaire Traits In addition, Fidelity disclosed several of its 401(k) millionaires' traits: The average 401(k) balance for its millionaires reached $1,462,000.

  • Investors unable to access brokerage accounts as stocks fall — what you should know for your retirement accounts
    Business
    MarketWatch

    Investors unable to access brokerage accounts as stocks fall — what you should know for your retirement accounts

    Investors are advised not to change their investment portfolios when the market is volatile — some were forced to take that advice when they couldn't access their accounts Monday morning. Some Fidelity Investment users tweeted Monday morning that at the start of the trading day, they couldn't log in to their accounts, or when they did, they saw a $0 balance. This comes less than a week after Fidelity customers were unable to access their accounts, or came across with no balance for their 401(k) and other investment portfolios.

  • U.S. Supreme Court turns away religious bias claim against Walgreens
    U.S.
    Reuters

    U.S. Supreme Court turns away religious bias claim against Walgreens

    The U.S. Supreme Court on Monday handed a victory to Walgreens, turning away an appeal by a fired former Florida employee of the pharmacy chain who asked not to work on Saturdays for religious reasons as a member of the Seventh-day Adventist Church. The justices declined to review a lower court ruling in Darrell Patterson's religious discrimination lawsuit that concluded that his demand to never work on Saturday, observed as the Sabbath by Seventh-day Adventists, placed an undue hardship on Walgreens. Patterson, who had trained customer service representatives at a Walgreens call center in Orlando, was fired in 2011 after failing to show up for work on a Saturday for an urgent training session.

  • Politics
    Bloomberg

    Buttigieg Calls for SALT Cap Removal Ahead of California Primary

    Buttigieg updated his tax plan Monday, adding a plank that would remove the $10,000 limit on so-called SALT deductions for those earning up to $400,000, partially reversing a provision in President Donald Trump's tax law that capped those write-offs, which were previously unlimited. The proposal is likely to play well in high-tax states such as California, New York and New Jersey, Democratic strongholds where local leaders have said the cap hurts residents whose incomes and property values tend to be higher.

  • Warren Buffett on coronavirus fears: I won’t be selling stocks
    Business
    Yahoo Finance Video

    Warren Buffett on coronavirus fears: I won’t be selling stocks

    Berkshire Hathaway CEO Warren Buffett isn't panicking about the impact of the coronavirus on markets in the long-term. Yahoo Finance's Seana Smith and CFRA research analyst Cathy Seifert discuss his remarks, along with Berkshire Hathaway's earnings results.

  • Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus sends stocks plunging
    Business
    MarketWatch

    Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus sends stocks plunging

    Global stocks are plunging on Monday after the number of virus cases outside China surged over the weekend, particularly in Italy, South Korea and Iran. European stocks also plummeted, with Italy's FTSE MIB (IT:I945) leading the descent, falling 5.9%. “The real question is: 'Has the 10-year or 20-year outlook for American businesses changed in the last 24 or 48 hours?'” the billionaire investor said on CNBC.

  • One of the market’s hottest stocks just bounced into the green to buck selloff
    Business
    MarketWatch

    One of the market’s hottest stocks just bounced into the green to buck selloff

    Virgin Galactic shares, which have been on a ridiculous tear lately, started Monday's session just like most stocks did — deep in the red. Yes, Richard Branson's Virgin Galactic (SPCE) saw its stock take a double-digit hit early, following the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX)into negative territory. But while the indexes failed to shake coronavirus fears throughout the day, Virgin Galactic, as you can see, caught a swarm of dip-buyers, who pushed the stock up more than 4% on heavy volume as the trading day wound down.

  • Duke Energy, Williams Cos. and partners end the $1B Constitution Pipeline project
    Business
    American City Business Journals

    Duke Energy, Williams Cos. and partners end the $1B Constitution Pipeline project

    Duke Energy Corp. confirms that the four partners in the Constitution Pipeline have agreed to abandon the 124-mile project designed to carry natural gas from shale fields in Pennsylvania to New York and New England. “Although Constitution did receive positive outcomes in recent court proceedings and permit applications, the economics associated with this greenfield project have since changed in such a way that they no longer justify investment,” says Duke spokeswoman Tammie McGee. The delays and legal challenges have since driven up the costs by close to 40%.

  • Bernie Sanders isn’t a democratic socialist. He is a social democrat
    Politics
    Quartz

    Bernie Sanders isn’t a democratic socialist. He is a social democrat

    Trump's fury over coronavirus patients being repatriated may be justified The reason Trump is excited about this development is likely his own campaign strategy, which has used the specter of socialism to warn against voting for the Democrats. Sanders, who describes himself as a “democratic socialist,” provides fuel to Trump's rants against a socialist takeover of America. But despite the longstanding negative connotations of socialism—and its powerful effect in halting social reforms such as universal health coverage—the senator from Vermont doesn't seem too concerned about the effect a socialist label can have on his campaign or proposals.

  • India To Buy $3 Billion In U.S. Weapons But This Key Deal Awaits
    Politics
    Investor's Business Daily

    India To Buy $3 Billion In U.S. Weapons But This Key Deal Awaits

    President Donald Trump said India will sign $3 billion in military deals with the U.S. Tuesday, while Boeing and Lockheed Martin remain in a dogfight to win a massive fighter jet deal. Defense stocks dropped. Earlier this month, the State Department approved the sale of a Raytheon Integrated Air Defense Weapon System, which includes radars and missiles, to India as part of a $1.87 billion package.

  • Defending against Xerox, HP doubles down on share buybacks, cost cuts
    Business
    Reuters

    Defending against Xerox, HP doubles down on share buybacks, cost cuts

    HP Inc said on Monday it would step up efforts to slash costs and buy back stock, as it seeks investor support to defend against a $35 billion takeover offer from U.S. printer maker Xerox Holdings Corp . The announcement came after Xerox raised its cash-and-stock bid for HP earlier this month by $2 to $24 per share, ahead of a tender offer it plans to launch in March. It is also asking HP shareholders to replace HP's board directors with Xerox's nominees at the company's annual shareholder meeting later this year.

  • The 10-year Treasury yield is sliding toward its all-time low — here’s why
    Business
    MarketWatch

    The 10-year Treasury yield is sliding toward its all-time low — here’s why

    As U.S. stocks headed for the biggest one-day selloff in more than a year, investors took shelter in the deepest, most liquid haven asset in the world — U.S. Treasurys. Fears the COVID-19 outbreak could delay a global economic recovery for longer than expected has drawn investors to government bonds. The 10-year Treasury note yield (BX:TMUBMUSD10Y)  tumbled more than 10 basis points to trade at 1.377% on Monday, a few basis points away from its record low of 1.32% set in June 2016, Tradeweb data show.

  • How the stock market has performed during past viral outbreaks, as coronavirus spreads to Italy and Iran
    Business
    MarketWatch

    How the stock market has performed during past viral outbreaks, as coronavirus spreads to Italy and Iran

    U.S. equity markets have experienced turbulent trade recently as investors keep watch of a deadly viral outbreak of COVID-19 in China. There are now 79,407 cases of COVID-19 in 32 countries and 2,622 deaths, according to the most recent reports. However, gauged by the market's performance during the onset of other infectious diseases, including SARS, or severe acute respiratory syndrome, Ebola and avian flu, Wall Street investors may have little to fear that the pathogen will sicken a U.S. stock market that finished 2019 with the best annual return in years and finished Thursday trade at all-time highs.

  • Market crash continues as US stocks dive on coronavirus fears
    Business
    Yahoo Finance UK

    Market crash continues as US stocks dive on coronavirus fears

    Italian officials on Sunday moved to lock down 12 towns, while there have been some 230 confirmed cases in the country. The pan-European STOXX 600 index (^STOXX) was down by more than 3.8%, with stocks on Italy's FTSE MIB Index (FTSEMIB.MI) sinking by more than 5.7%. Around a dozen towns in Italy, the eurozone's third-largest economy, have been put on lockdown as authorities in the northern Lombardy and Veneto regions race to contain the outbreak.

  • Tesla Rival Sets Out to Banish 160-Year-Old Lead Tech From Cars
    Business
    Bloomberg

    Tesla Rival Sets Out to Banish 160-Year-Old Lead Tech From Cars

    These may help eliminate lead-acid batteries, a piece of technology invented in 1859 that still lurks under the hoods of Teslas in addition to the main lithium-ion power source. Supercapacitors have some way to go before they are widely adopted. There is still a gap with the popular lithium-ion units on how much energy they can store, Skeleton Chief Executive Officer Taavi Madiberk admits.

  • Why This Is The Only Marijuana Stock A Top Pot Analyst Still Rates As A Buy
    Business
    Investor's Business Daily

    Why This Is The Only Marijuana Stock A Top Pot Analyst Still Rates As A Buy

    Marijuana stocks fell Monday as Cowen downgraded Aurora Cannabis stock and Tilray, but kept Canopy Growth stock as its only "outperform" rating, amid ongoing supply and cash difficulties in Canada's legal recreational rollout and better prospects in the U.S. In a research note on Monday, Cowen analyst Vivien Azer said issues that have hurt the industry — too few stores to sell weed, difficulty bringing illicit-market customers into the legal market — "do not appear to be fading as anticipated." Newer legal products, like edibles and vapes, are "likely not the elixir that the market was hoping for," she said. Factoring those issues together, Cowen also slashed its full-year sales forecast by 32% to 3.5 billion Canadian dollars ($2.63 billion) in legal cannabis sales.