U.S. Markets open in 3 hrs 9 mins

Senate leaders announce two-year budget pact

The Senate's top leaders announced Wednesday they have sealed agreement on a two-year budget pact that would shower both the Pentagon and domestic programs with almost $300 billion above existing limits, giving wins to both GOP defense hawks and Democrats seeking billions for infrastructure projects and combatting opioid abuse.

  • Facebook under fire as US officials back removal of Zuckerberg as chairman
    Business
    The Telegraph

    Facebook under fire as US officials back removal of Zuckerberg as chairman

    Mark Zuckerberg came under fresh pressure after four US officials called for a boardroom shakeup at Facebook. Three state treasurers and a top official from New York have joined a shareholders’ motion to install an independent chairman at Facebook, claiming the move would improve governance and accountability. In June, Boston-based Trillium Asset Management, which holds $11m in Facebook shares, launched an effort to split the role of chairman and chief executive at Facebook following scandals over the hacking of personal data from millions of users and claims of hate speech and election-rigging.

  • Why American Airlines Group Stock Jumped 6% -- Then Gave Most of It Back
    Business
    Motley Fool

    Why American Airlines Group Stock Jumped 6% -- Then Gave Most of It Back

    Shares of American Airlines Group (NASDAQ: AAL) popped 6.4% in early trading Wednesday before retracting to close the day up less than 1% -- just 0.9%, to be precise. An upgrade assigned to the stock by Deutsche Bank appears to be the primary reason for the move. A Deutsche Bank analyst upgraded American Airlines stock from "hold" to "buy" on Wednesday, as we're told by our friends at StreetInsider.com.

  • A former GE exec who trained new managers found that almost all of them were making the same mistake
    Business
    Business Insider

    A former GE exec who trained new managers found that almost all of them were making the same mistake

    Beth Comstock is the former vice chair of General Electric. Comstock would hand out "permission slips" authorizing employees to take risks — but she also said it's important for people to stop hiding behind their excuses. Beth Comstock doesn't tolerate excuses.

  • Alibaba (BABA) Dips More Than Broader Markets: What You Should Know
    Finance
    Zacks

    Alibaba (BABA) Dips More Than Broader Markets: What You Should Know

    Investors will be hoping for strength from BABA as it approaches its next earnings release, which is expected to be November 2, 2018. On that day, BABA is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 10.08%. Investors should also note any recent changes to analyst estimates for BABA.

  • You've won the Mega Millions jackpot. Now what?
    News
    Associated Press

    You've won the Mega Millions jackpot. Now what?

    Despite the terrible odds — one in 302.5 million for those keeping score at home — someone will eventually match all six numbers and win the Mega Millions jackpot, now at $900 million. Here are some answers for someone holding that prized lottery ticket. Lottery officials recommend winners take a deep breath, put their winning ticket in a safe spot and consult with a reputable financial planner before popping over to the lottery headquarters.

  • Xilinx (XLNX) Q2 Earnings Preview: What to Look Out For
    Business
    Zacks

    Xilinx (XLNX) Q2 Earnings Preview: What to Look Out For

    Wall Street expects a year-over-year increase in earnings on higher revenues when Xilinx (XLNX) reports results for the quarter ended September 2018. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 24, 2018, might help the stock move higher if these key numbers are better than expectations.

  • Employee Accused of Urinating on Production Line at Food Processing Facility
    Business
    WTKR - Norfolk

    Employee Accused of Urinating on Production Line at Food Processing Facility

    Smithfield Foods, Inc. said in a statement Tuesday that it disposed of more than 50,000 pounds of product after reports of an employee urinating at his station at the company’s processing facility in Virginia.

  • Ken Langone: 'Who the hell in their right frame of mind would be buying bonds now?'
    Business
    Yahoo Finance

    Ken Langone: 'Who the hell in their right frame of mind would be buying bonds now?'

    Billionaire investor and philanthropist Ken Langone, the founder of The Home Depot (HD) and chairman of Invemed Associates, argued that there’s some “big time” structural problems in the market right now. Because if we are on a trajectory of raising rates that means, and if it keeps going that way and I don’t know how high it will go, and it keeps going that way then all the sudden the guy who bought those bonds is going to be looking at a fairly decent loss,” Langone said.

  • Business
    CNBC

    Cramer: Alphabet and Amazon, my largest trust holding, can still be bought after Netflix beat

    CNBC's Jim Cramer checks in on FAANG after Netflix's earnings beat to see how shares of the technology giants are holding up. Alphabet and Amazon's stocks look "ripe to buy" after the recent sell-off, the "Mad Money" host says. CNBC's Jim Cramer has spotted some attractive buying opportunities in FAANG — his acronym for the stocks of Facebook FB , Amazon AMZN , Apple AAPL , Netflix NFLX and Google, now Alphabet GOOGL — after the market's latest sell-off.

  • Marijuana Stocks to Watch in October -- and Into 2019
    Business
    Motley Fool

    Marijuana Stocks to Watch in October -- and Into 2019

    Tomorrow, Wednesday, Oct. 17, Canada will become the first industrialized county in the world where marijuana is legal for adult recreational use -- and only the second country, along with Uruguay, where such use is legal.  Not only does this open up

  • These 3 Retailers Will Benefit From the Death of Sears
    Business
    Motley Fool

    These 3 Retailers Will Benefit From the Death of Sears

    Sears Holdings (NASDAQ: SHLD) recently filed for bankruptcy protection and announced that it will close nearly 200 stores by the end of the year. Sears still hopes to operate at least 400 stores going forward, but their fate remains uncertain as the company undergoes a painful restructuring to alleviate its billions of dollars in debt. Sears' bankruptcy was telegraphed years ago, as the retailer struggled with declining mall traffic and intense competition from superstores and Amazon.com (NASDAQ: AMZN).

  • Housing Stocks Tumble Midday; Home Depot Dents Dow
    Finance
    Investing.com

    Housing Stocks Tumble Midday; Home Depot Dents Dow

    Investing.com - Home Depot (NYSE:HD) and other housing-leveraged stocks fell in midday trading following disappointing data on home construction. Home Depot fell about 4.2% at 12:08 PM ET (16:08 GMT) and was a drag on the Dow Jones Industrial Average

  • Where Will NVIDIA Be in 5 Years?
    Business
    Motley Fool

    Where Will NVIDIA Be in 5 Years?

    At one time, NVIDIA (NASDAQ: NVDA) floated under the radar in the technology sector. Its graphics processing units (GPUs) were then niche tech products that appealed mainly to graphic artists and hardcore PC gamers, but that all changed over the last

  • 3 Stocks for Warren Buffett Fans
    Business
    Motley Fool

    3 Stocks for Warren Buffett Fans

    Warren Buffett has no shortage of acolytes, and it's easy to see why. The Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) chief and founder has made thousands of early investors in his conglomerate rich as the parent of businesses like GEICO car insurance and Burlington Northern Santa Fe railroad has posted average annual returns of 20% over the last 50 years, crushing the market. Buffett has never gotten too big for his britches, however.

  • Business
    Benzinga

    Credit Suisse Downgrades Home Depot, Lowe's On Reduced Upside Projections

    Home improvement retailers remain Credit Suisse's best sector from a structural perspective, and the sell-side firm's expectations for earnings growth remain unchanged. Credit Suisse's Seth Sigman downgraded Home Depot Inc (NYSE: HD) from Outperform to Neutral with a price target lowered from $222 to $204. Home Depot remains a best-in-class within the entire retail group and is backed by a "superb" management team, Sigman said in the downgrade note.

  • Is "the Apple Store of Weed" a Buy After the Biggest Marijuana Acquisition in U.S. History?
    Business
    Motley Fool

    Is "the Apple Store of Weed" a Buy After the Biggest Marijuana Acquisition in U.S. History?

    MedMen's cannabis retail locations are upscale and well designed, just as Apple Stores are. MedMen stock has more than doubled so far in 2018, performing better than several more well-known Canadian marijuana stocks.

  • Tilray CEO says there could be a $100 billion pot stock c...
    Business
    CNBC Videos

    Tilray CEO says there could be a $100 billion pot stock c...

    FM trader Tim Seymour takes on the Tilray CEO, Brendan Kennedy. A breakdown of the marijuana madness, with CNBC's Dirdre Bosa and Melissa Lee, and the Fast Money traders, Pete Najarian, Dan Nathan and Guy Adami.

  • Better Buy: The Home Depot, Inc. vs. Lowe's
    Business
    Motley Fool

    Better Buy: The Home Depot, Inc. vs. Lowe's

    Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) have helped countless homeowners increase the value of their homes. They've also made many investors rich. With their shares having soared 879% and 484%, respectively, over the past decade, Home Depot and Lowe

  • GE to pay penalty if falls short of French job pledges: ministry
    Business
    Reuters

    GE to pay penalty if falls short of French job pledges: ministry

    General Electric's new CEO told France's finance minister on Wednesday that it would stick to his predecessor's French job pledges or pay a penalty, the Finance Ministry said. Former CEO John Flannery warned French Finance Minister Bruno Le Maire in June that the target was "out of reach", and the government raised the possibility of fines worth 50,000 euros ($57,570) for each job not created. GE's new CEO Larry Culp, who took up his post at the start of the month, told Le Maire in a meeting on Wednesday that France remained a strategic country for the company, the ministry said in statement.

  • Disney vs Netflix: Here's which stock would have made you richer if you invested $1,000 10 years ago
    Business
    CNBC

    Disney vs Netflix: Here's which stock would have made you richer if you invested $1,000 10 years ago

    On October 16, 1923, Walt and Roy Disney founded The Walt Disney Company and, nearly a century later, the company is one of the largest and most successful media conglomerates in the world. The answer is Netflix. According to CNBC calculations, a $1,000 investment in Netflix in October 2008 would be worth more than $97,560 as of after the earning bell on Monday, or more than 96 times as much, including price appreciation and dividends reinvested.

  • United Rentals (URI) Surpasses Q3 Earnings and Revenue Estimates
    Business
    Zacks

    United Rentals (URI) Surpasses Q3 Earnings and Revenue Estimates

    United Rentals (URI) came out with quarterly earnings of $4.74 per share, beating the Zacks Consensus Estimate of $4.54 per share. This quarterly report represents an earnings surprise of 4.41%. United Rentals, which belongs to the Zacks Building Products - Miscellaneous industry, posted revenues of $2.12 billion for the quarter ended September 2018, surpassing the Zacks Consensus Estimate by 4.86%.

  • Business
    CNBC

    Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax

    Walmart says switching to LED lights in its parking lots cut its annual energy costs by $200 million. A change in the floor wax it uses cut costs by $20 million a year because the floors need to be buffed less often. It's exactly what Walmart WMT is doing.

  • AT&T (T) Q3 Earnings Preview: How Are Events Shaping Up?
    Business
    Zacks

    AT&T (T) Q3 Earnings Preview: How Are Events Shaping Up?

    The market expects AT&T (T) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2018. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 24.

  • Business
    Benzinga

    Kinder Morgan's Q3 Earnings Preview

    Kinder Morgan (NYSE: KMI) will be releasing its next round of earnings Wednesday. For all of the relevant information, here is your guide for the Q3 earnings announcement. Earnings and Revenue Analysts expect Kinder Morgan earnings of 21 cents per share

  • Business
    CNBC

    Berkshire Hathaway shares look really cheap using Warren Buffett's own method of valuing stocks

    Companies pay investors dividends but they also retain some of their earnings. Over time, companies invest these retained earnings at a higher rate of return and that ultimately boosts their share prices, benefiting their investors. J.P. Morgan analyst Sarah DeWitt calculates that Berkshire's share of undistributed earnings from its stock portfolio is $12 billion, or about $5.19 per Berkshire Class B share.