Wall Street finally got what it was ordering from the Federal Reserve, but somehow investors were still disappointed, CNBC’s Jim Cramer said Wednesday. The central bank cut the benchmark interest rate by a quarter point to the 2% to 2.25% range, but traders who wanted Chairman Jerome Powell to signal future cuts were left unsatisfied.
Month: July 2019
Qualcomm Inc. CEO Steve Mollenkopf. Getty Images Qualcomm issued guidance for September quarter earnings and revenue significantly lower than analyst expectations on Wednesday. The stock dropped as much as 5% in after-hours trading. Here’s how the company did versus expectations: Earnings: $0.80 per share, excluding certain items, vs $0.75 expected according to analysts polled by
A Fitbit display at a Target store in Los Angeles. Getty Images Check out the companies making headlines after the bell: Shares of Fitbit plummeted as much as 21% in after-hours trading after the maker of health and fitness devices cut its guidance for the next quarter. In its second-quarter earnings report, the company said,
Leon Cooperman Scott Mlyn | CNBC During Tuesday night’s Democratic presidential debate, many of the Democratic candidates called for ending a favorite tax break of the rich. And now they have some unlikely allies: billionaire, conservative hedge-fund managers. In Wednesday’s Financial Times, hedge-fund manager and longtime Republican supporter Leon Cooperman said that while he opposed
Source: SmileDirectClub SmileDirectClub is bracing for a windfall of cash. The company, which provides invisible teeth-straightening devices, is looking to sell up to $1 billion in stock in an initial public offering, three people with knowledge of the matter said. SmileDirectClub is currently on file confidentially and aiming to flip its IPO prospectus to be
Sen. Kamala Harris Elijah Nouvelage | Reuters Student debt has become a central issue in the 2020 presidential campaign. First, Sen. Elizabeth Warren, D-Mass., proposed canceling $640 billion of it. Then Sen. Bernie Sanders, I-Vt., said he’d erase all $1.6 trillion of it. Now Sen. Kamala Harris, D-Calif., has released a plan to forgive student
Learn how to create a no regrets retirement plan Getty As many of you know, a traditional obituary contains the name of the passing person as well as their surviving loved ones, including spouses and children. Well several years ago I created a Google Alert for my name, “Robert Laura,” so I could keep track of
San Francisco city – Telegraph Hill and Coit Tower. Getty Here’s how the hot Bay Area IPOs have impacted the housing market according to Selma Hepp, chief economist and VP business intelligence at Compass in San Francisco. In the last several months several notable IPOs have hit the area including. Uber, Pinterest, and Lyft. The newly
College fund. Piggy bank with coins. Money for education. Getty 529 plans and custodial accounts are two of the most common ways to save for college, but they have distinctly different benefits for families. Understanding the differences between the two savings methods is essential to choosing the right one for you and your children, so
[embedded content] Federal Aviation Administration officials are set to testify in front of a Senate panel about how the agency approved the Boeing 737 Max, the plane that has been grounded worldwide since mid-March after two fatal crashes. The agency has been under increased scrutiny from lawmakers after the two deadly crashes — one in
The Humana headquarters office stands in Louisville, Kentucky. Ty Wright | Bloomberg | Getty Images Health insurer Humana raised its 2019 profit forecast on Wednesday and posted second-quarter earnings ahead of Street estimates, as it reined in costs and recorded higher revenue from its unit that sells Medicare Advantage health plans. Shares rose 3.7% to
The “Fast Money ” traders shared their first moves for the market open. Tim Seymour was a buyer of Apple. Chris Verrone was a buyer of General Electric. Karen Finerman was a buyer of American Airlines. Guy Adami was a buyer of McKesson. Disclosure Trader disclosure: Chris Verrone is long BAC, DBX, SMAR, ZNGA, TWTR, QD. Karen
View of Abu Dhabi’s skyline at sunset from Dhow Harbour in the UAE. Getty Images Singapore sovereign wealth fund GIC has joined major Wall Street investors in a landmark oil pipeline partnership with Abu Dhabi’s National Oil Company (ADNOC), bringing the total investment in the project to nearly $5 billion. The move, which will see
Stock buybacks have gotten a bad name in many precincts over the past few years, decried as unproductive “financial engineering” that detracts from corporate investment in future growth. But Apple’s aggressive use of its copious cash resources to repurchase its shares at modest valuations in recent years has shown the power of buybacks for a
Philippe Huguen | AFP | Getty Images From beach bags to book bags, students are gearing up to head back to school. For parents, that means opening their wallets. A recent survey from the National Retail Federation anticipates 2019 will be a significant spending year for school and college supplies. The survey of 7,660 consumers,
Share to facebook Share to twitter Share to linkedin Photo credit: Getty Getty How far would you go to get financial aid? Here’s what you need to know. Financial Aid: College If you’ve followed the headlines this year, you’ve undoubtedly read about the largest college admissions scandal in U.S. history. You also may have read
With a population of 95, Shionohara is a hamlet nestled in the rural town of Minamiaizu in Fukushima Prefecture Jenna Wang MINAMIAIZU, JAPAN – 72-year-old Haga Ichio and his 66 year-old wife, Tomio Ichio, live in a dying village in Japan. Their humble two-story abode in Shionohara has been home to the Ichio family for
Government regulators believe that many financial advisors give bad advice about IRAs because the advisors have inherent conflicts. There has resulted in a stream of rules and regulations. The main concern of regulators is what happens to an individual’s 401(k) account after leaving a job. The regulators concluded that too many advisors recommended that the
Shares of Levi Strauss have come down to a level that is worth pulling the trigger, CNBC’s Jim Cramer said Tuesday. As of the close, the stock is down more than 23% from its $24.50 peak in mid-April. Earlier this month, the “Mad Money” host argued that the jean maker’s stock should not have climbed
Apple now has $210.6 billion cash on hand, according to the company’s fiscal third-quarter earnings report released on Tuesday. That’s a 6.6% decline from its fiscal second quarter of 2019, when it reported a cash pile of $225.4 billion. It’s down 13.6% from the year-ago quarter. Apple continues to host one of the largest cash
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