U.S. Markets close in 4 hrs 53 mins

Futures mixed ahead of Fed rate decision

Yahoo Finance’s Ines Ferre and Alexis Christoforous share the latest developments of major indexes at the New York Stock Exchange, on The First Trade.

  • Americans to Inherit $764 Billion This Year, Mostly Tax-Free
    Business
    Bloomberg

    Americans to Inherit $764 Billion This Year, Mostly Tax-Free

    Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution. “If anything, we should be taxing income from inheritances at higher rates than income from work,” Batchelder, a former adviser to President Barack Obama who has advised several Democratic presidential campaigns on tax policy, said in a phone interview.

  • What to know for year two of the Trump tax plan
    Business
    Associated Press

    What to know for year two of the Trump tax plan

    Last year's filing season was an adjustment for taxpayers and industry professionals alike as it was the first under a massive overhaul of federal tax law. While this year's season is expected to be more sedate, there are a few tweaks to be aware of. STANDARD DEDUCTION The standard deduction doubled under the new tax law that took effect in 2018.

  • Business
    Benzinga

    Mackenzie Bezos Gets Rid Of About $370M Of Her Amazon Shares

    An end of the year filing with the United States Securities and Exchange Commission by Jeff Bezos showed that he now exercises sole voting authority on about 19.49 million additional shares. This is about 202,000 less than the 19.7 million shares awarded to Mackenzie Bezos as part of the couple's divorce settlement in April last year, over which the e-commerce giant's founder had retained exclusive voting rights. The shares are valued at around $370 million at Amazon's after-hours price of $1831.50 on Monday.

  • The main reason for the stock market’s decline is NOT the coronavirus
    Business
    MarketWatch

    The main reason for the stock market’s decline is NOT the coronavirus

    The coronavirus is getting a bum rap as the cause of the stock market's recent weakness. That decline gathered steam on Monday, when the Dow Jones Industrial Average (DJIA) was at one point down more than 500 points. It's not that any of us should have sympathy for the virus, of course.

  • World
    TheStreet.com

    Jim Cramer: 6 Stocks to Buy on Coronavirus Fears

    The selling was so intense in that period that it didn't matter if you were buying Verizon or Caterpillar or American Electric Power . There were so many people who left Wuhan, the epicenter, when they were still healthy and they are now coming down with the illness. It's pretty clear that the virus spreads from rapidly person to person, so rapidly that we are hearing lots of conspiracies about a bio lab in Wuhan that might have mistakenly discharged the coronavirus and it was not transmitted initially by animals to humans.

  • A-list celebrities attend lavish party at Jeff Bezos' D.C. home
    Politics
    Yahoo Finance Video

    A-list celebrities attend lavish party at Jeff Bezos' D.C. home

    Jeff Bezos threw a lavish party at his new Washington, D.C. home, and some high-profile names were in attendance. These include Federal Reserve chairman Jerome Powell, Ben Stiller, Kellyanne Conway, Bill Gates, and Jared and Ivanka Trump.

  • Business
    Barrons.com

    Beyond Meat Stock Is Falling. There Isn’t Much Upside Left, Analyst Says.

    Alternative protein startup (BYND) has been hit with a double whammy. J.P. Morgan analyst Ken Goldman downgraded shares on Tuesday from the equivalent of Buy to Hold, following on the heels of a court ruling on Monday that went against Beyond Meat in a dispute with a former contract manufacturer. The confluence of bad news pushed shares down 1.4% in premarket trading Tuesday.

  • Harley-Davidson's shares tumble on steeper fall in revenues
    Business
    Reuters

    Harley-Davidson's shares tumble on steeper fall in revenues

    Harley-Davidson Inc on Tuesday reported a larger-than-expected decline in its motorcycles revenue, hurt by a continuing slide in retail sales in the United States, sending its shares plunging in pre-market trade. The company said revenues at its motorcycles, parts & accessories and general merchandise segment fell 8.5% to $874.1 million in the fourth quarter from a year ago. Harley's challenges in the United States, which accounts for more than half of sales, are well documented - core customers are growing older and efforts to attract new and young riders have yet to show results.

  • McDonald's heats up breakfast war with new chicken sandwiches
    News
    Reuters

    McDonald's heats up breakfast war with new chicken sandwiches

    McDonald's Corp will add chicken sandwiches to its breakfast menu at all of its U.S. restaurants, the world's largest burger chain said on Tuesday, to fend off competition from Chick-Fil-A and Popeyes Louisiana Kitchen . Breakfast has been an important sales driver for fast-food chains and as more rivals like Wendy's and Dunkin' move into the space with new products, the pressure to retain customers has become more intense. Earlier this month, McDonald's expanded its Beyond Meat vegan burger trials in Canada, catering to the growing demand for plant-based proteins in fast-food restaurants.

  • AbbVie Is Nearing Takeover Of Allergan — Is It Time To Add AbbVie Stock?
    Business
    Investor's Business Daily

    AbbVie Is Nearing Takeover Of Allergan — Is It Time To Add AbbVie Stock?

    AbbVie stock ended 2019 on a high note — rocketing about 40% from its low point in August as investors re-evaluated the $63 billion plan to buy Botox-maker Allergan. The takeover deal certainly helps AbbVie diversify away from Humira, a blockbuster drug that treats inflammatory conditions. Humira already faces biosimilar rivals in Europe, and will lose patent protection in the U.S. in 2023.

  • CNBC’s Jim Cramer: Here comes the panic, but don’t rush to buy the dip
    Business
    MarketWatch

    CNBC’s Jim Cramer: Here comes the panic, but don’t rush to buy the dip

    That's how CNBC host Jim Cramer described Monday's sharp selloff in the stock market, which is shaping up to be the worst we've seen in several months amid mounting fears of the spread of the coronavirus. So is it time for a little bottom-fishing ahead of a very crowded docket of earnings report in the coming days? We've been saying over and over if we get an exogenous event that's when you get the sell off, that's when you have to buy,” Cramer explained.

  • Acceleron stock soars on lung drug trial data
    Business
    American City Business Journals

    Acceleron stock soars on lung drug trial data

    Mere months after its first product was approved by the FDA, Cambridge's Acceleron Pharma is closer to executing a one-two punch after announcing new clinical trial data this week. Acceleron (Nasdaq: XLRN) reported Monday that its high blood pressure disorder drug sotatercept succeeded in a midstage trial. The rare-disease drug is designed to treat pulmonary arterial hypertension, a condition that causes the small arteries in the lungs to narrow, blocking blood flow and causing pressure to build up.

  • Business
    U.S.News & World Report

    Your 401(k) Depends on These 7 Stocks

    Apple has the highest weighting (4.1%) of any stock in the Fidelity 500 Index Fund (FXAIX), one of the two most popular 401(k) mutual funds. Apple has the second highest weighting (4.3%) in the other most popular mutual fund, the Vanguard Institutional Index Fund (VINIX). In addition, Apple has a 4.6% weighting in the SPDR S&P 500 ETF Trust (SPY) and a 4.8% weighting in the iShares Core S&P 500 ETF (IVV), the two most popular 401(k) exchange-traded funds.

  • Typical Retirement Savings By Age Groups: Are Yours Bigger?
    Business
    Investor's Business Daily

    Typical Retirement Savings By Age Groups: Are Yours Bigger?

    Active savers — in this case, Americans who own an IRA and-or a 401(k) account in the custody of Fidelity Investments — had savings for retirement of $215,400 as of Sept. according to new data IBD has obtained from Fidelity. In contrast, the average for all working-age families is shockingly low.

  • Business
    Barrons.com

    3M Stock Is Falling as Earnings Disappoint and New Environmental Liability Is Disclosed

    The industrial conglomerate (MMM) had dual disappointments for investors on Tuesday morning even as it raised concern over potential environmental liabilities. The company reported $1.95 in per share earnings, while analysts were looking for $2.11. The company's earnings guidance for 2020 also fell short of predictions.

  • Pfizer profit misses estimates, revenue declines as Lyrica sales tumble
    Business
    Reuters

    Pfizer profit misses estimates, revenue declines as Lyrica sales tumble

    Pfizer Inc on Tuesday reported lower-than-expected quarterly profit and a decline in revenue as sales of its off-patent pain treatment Lyrica more than halved, sending its shares down more than 3%. The largest U.S. drugmaker is spinning off its struggling Upjohn unit, which houses off-patent drugs including Lyrica and Viagra, and separated its consumer health business last year to focus on its more profitable drugs. The company's total revenue fell 9% to $12.69 billion in the fourth quarter, with Lyrica sales sinking 68% to $433 million due to competition from generic drugs.

  • Video shows minutes after Kobe Bryant crash
    News
    Associated Press Videos

    Video shows minutes after Kobe Bryant crash

    NBA legend Kobe Bryant, his 13-year-old daughter and seven others are dead after their helicopter went down in Southern California. Jan.

  • BorgWarner auto parts maker to buy Delphi Technologies for $3.3 billion
    Business
    Autoblog

    BorgWarner auto parts maker to buy Delphi Technologies for $3.3 billion

    BorgWarner Inc on Tuesday agreed to buy UK-based Delphi Technologies Plc in a $3.3 billion deal, as the U.S. auto parts maker looks to expand in a growing market for hybrid and electric vehicles. Delphi shareholders will receive 0.4534 shares of BorgWarner for each share held. That translates to $17.39 per share, a premium of about 77% to Delphi's closing price on Monday.

  • 3M will cut 1,500 jobs, misses profit target
    Business
    American City Business Journals

    3M will cut 1,500 jobs, misses profit target

    3M Co. reported lower-than-expected earnings for the fourth quarter and announced it will cut 1,500 jobs as it changes how it manages overseas operations. The cuts, which the Maplewood, Minn.-based company said would come from across "all business groups, functions and geographies," are expected to save 3M (NYSE: MMM) $110 million to $120 million a year, with as much as $50 million of that coming in 2020. 3M, which employs 96,000 people, took a restructuring charge of $134 million in the fourth quarter related to the move.

  • Business
    Barrons.com

    Pfizer Stock Is Dropping Because Its Earnings Missed Expectations

    (PFE) stock was falling in premarket trading on Tuesday after the company reported fourth quarter earnings that missed Wall Street expectations. Pfizer (ticker: PFE) reported earnings per share for the fourth quarter of 2019 of $0.55, short of the $0.58 expected by Wall Street analysts, according to FactSet. The company also released guidance for 2020, saying it expected revenues of between $48.5 billion and $50.5 billion, a calculation that includes revenues from its Upjohn division, which it plans to spin off this year.

  • Business
    American City Business Journals

    Massive 777X takes flight, and Boeing expects big sales will soon follow

    Boeing thinks the market for its 777X widebody jet, which flew its first test flight Saturday, will ripen over the next four years, despite the current order drought. Though 777X sales have been few and far between, the Chicago-based jet maker expects order demand will grow to between 60 and 100 jets a year starting in 2022, Boeing 777X marketing director Wendy Sowers said. The jet has 309 orders so far, and customers include: British Airways, Cathay Pacific Airways, Emirates, Etihad Airways, Lufthansa, Qatar Airways and Singapore Airlines.

  • Boeing and GE Share Earnings Day? How Fitting.
    Business
    Bloomberg

    Boeing and GE Share Earnings Day? How Fitting.

    Boeing, having surpassed GE in November 2017 as the largest U.S. industrial company by market value, continued to wow investors with ever-rising cash flow and escalating share buybacks amid an expected surge in output for its best-selling 737 Max jet. As GE's struggles continued, much was written about the tarnishing of its once-prized corporate culture and the deserved comeuppance of executives' push for market dominance at any cost. In hindsight, some of that criticism should have also found its way to Boeing, which had counted many a GE executive among its leadership ranks and bore the same hallmarks of extreme corporate hubris.

  • Business
    Bloomberg

    Elon’s Encore: Predicting the Surprises Tesla Has in Store Next

    Musk also reported being ahead of schedule opening a China plant and bringing out the Model Y crossover, kicking off a rally that's been buoyed since then by record deliveries. Tesla will have to clear a higher bar this time. Analysts are expecting an adjusted profit of $1.78 a share for the fourth quarter, a little short of what the company earned both in the prior three months and year-ago period.

  • Business
    Barrons.com

    Acceleron Stock Is Skyrocketing After Surprise Success for Heart Drug

    New data on an experimental heart drug is sending shares of the biotech firm (XLRN)soaring. One analyst more than doubled his price target on the stock, but others say the boom may be a bit excessive. In an announcement on Monday evening, Acceleron (ticker: XLRN) said that a Phase 2 trial of its drug sotatercept found a statistically significant decrease in pulmonary vascular resistance in patients with pulmonary arterial hypertension, a rare disease that can weaken the heart muscle.

  • Business
    Barrons.com

    Apple Reports Earnings Today. Here’s What To Expect.

    Also keep a close eye on guidance for the fiscal second quarter ending March: Consensus estimates for revenue and earnings per share are currently $62.5 billion and $2.82, respectively, but a growing chorus of Wall Street analysts contend the current view is too conservative. The huge runup in Apple stock has been driven by a few specific factors: Better-than-expected sales of iPhone 11; soaring demand for AirPods (the New York Times just published a length first-person account in the news section of what to do if you drop one of your AirPods into a subway grate); growing expectations for the company's services business; extreme optimism about the prospects for the first generation of 5G iPh...