Loretta Mester Jodi Gralnick | CNBC The Federal Reserve should be providing markets more information about what is influencing monetary policy, the head of the central bank’s Cleveland district said Friday. Loretta Mester’s remarks come at a time when the market and the Fed are out of line regarding the path of interest rates this
Month: February 2020
Traders on the floor of the New York Stock Exchange. Brendan McDermid | Reuters The coronavirus outbreak ruined for investors what was a solid earnings reporting season and is casting a pall on forecasts for this quarter and the rest of this year. And now with most of the earnings season in the books, look
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images This is a live blog. Check back for updates. 8:33 am: Hedge funds are crowding into a few stocks Goldman Sachs notes that “the typical hedge fund now carries 69% of
Wells Fargo will pay $3 billion in criminal and civil settlements with the Justice Department and the Securities and Exchange Commission over its fraudulent fake-account scandal, the U.S. Attorney’s Office said Friday. “This case illustrates a complete failure of leadership at multiple levels within the bank,” said U.S. Attorney Nick Hanna. “Simply put, Wells Fargo
Tom Merton | Getty Images Owners of large estates have reason to celebrate. For the second year in a row, the estate-tax exemption has increased to keep up with inflation, offering families with substantial assets the ability to shield a bigger portion of their estates from estate tax. For 2020 the Internal Revenue Service raised
Rapa Nui, otherwise known as Easter Island (or Isla de Pascua), is one of the most remote inhabited places on the planet. It’s hard to find on a map — the island is little more than a stray dot in the vast southeastern Pacific Ocean. Its closest neighbors are the tiny Pitcairn Islands (some 1,200
CNBC’s Jim Cramer said Thursday that he found the Democratic debate in Las Vegas difficult to watch as Sen. Bernie Sanders assailed billionaire Mike Bloomberg and the wealthy. “It was painful because your wealth was really under fire last night,” Cramer said on “Squawk Box.” “How did this get to be, that if you’re wealthy
After a solo trip to Las Vegas, I needed some time away from bright lights and late nights. On a friend’s recommendation, I headed into Utah, to the Red Mountain Resort near St. George, about a two-hour drive northeast of Sin City. And I learned there’s a lot to do in Utah than go skiing.
Tesla CEO Elon Musk poses on the red carpet as he arrives for the 43rd “Golden Steering Wheel” awards on November 12, 2019 in Berlin. Tobias Schwarz | AFP via Getty Images Tesla has been given the go-ahead from a German court to cut down trees for its new European factory. Though it doesn’t yet
Trader on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Goldman Sachs sounded the alarm on Wednesday to clients about a possible correction in the stock market, noting investors are underestimating how big of a risk the coronavirus really is. “We believe the greater risk is that the impact of the
Virgin Galactic’s First Spaceflight on Dec. 13, 2018 Source: Virgin Galactic Virgin Galactic’s rally began two months ago but trading in the speculative space name has recently accelerated in a way that tops even the momentum behind Tesla. Shares of Virgin Galactic rose as much as 12% in premarket trading Wednesday from its previous close
James Gorman, chairman and chief executive officer of Morgan Stanley. Michael Nagle | Bloomberg | Getty Images Morgan Stanley, the tony investment bank for rich Americans and corporations, is making a play for the masses with its $13 billion takeover of discount brokerage pioneer E-Trade. The move, announced early Thursday, is the biggest takeover by
Morgan Stanley’s acquisition of brokerage firm E-Trade has been a long time coming, Chairman and CEO James Gorman told CNBC on Thursday. “In truth, [conversations] started in 2002,” the Morgan Stanley chief said in a “Squawk on the Street” interview with Wilfred Frost. ”I called [E-Trade] back then when I was at Merrill [Lynch] because I was intrigued by
A Stamps.com promotional image Source: Stamps.com There’s volatility and then there’s Stamps.com. Shares of Stamps.com rallied more than 50% on Thursday after the mailing and shipping services company posted quarterly numbers that blew away analyst expectations. The company reported an adjusted profit of $2.12 per share for the fourth quarter on revenue of $160.9 million.
Virgin Galactic’s spacecraft Unity flies to its new home in at Spaceport America in New Mexico on Feb. 13, 2020. Virgin Galactic Virgin Galactic‘s monster stock rally in the past few months has taken even bullish Morgan Stanley by surprise, with shares of the company nearing $40. “A modest correction is overdue, and frankly, healthy,
Goldman Sachs had plenty of chances to make an offer for discount brokerage E-Trade before rival Morgan Stanley made its $13 billion move, but the bank didn’t throw its hat in the ring, according to people with knowledge of the situation. Morgan Stanley CEO James Gorman acted as his bank’s dealmaker-in-chief when he approached E-Trade
Warren Buffett David A. Grogan | CNBC Berkshire Hathaway’s Warren Buffett on Saturday will publish his much-awaited shareholder letter. The annual missives, which are logged here on Berkshire’s website going back to 1977, are considered required reading for investors large and small. And this year, investors will be especially interested to know whether Berkshire has
A Deere & Co. John Deere 9560 combine harvester unloads soft red winter (SRW) wheat during a harvest in the village of Kirkland in Dekalb, Illinois, July 9, 2018. Daniel Acker | Bloomberg | Getty Images Shares of Deere spiked Friday morning after the agriculture company topped estimates for its fiscal first quarter and said
SpaceX is looking to raise about a quarter billion dollars in new funds, as Elon Musk’s company heads into a critical year for its three major projects. The company is seeking to bring in about $250 million at a price of $220 a share, according to people familiar with the financing. The new raise would
If you’re counting on working past your 65th birthday, be sure to consider how Medicare may factor into your plans — even if you already have health insurance through your job. While workers at companies with fewer than 20 workers generally must sign up for Medicare at age 65, people working for larger companies typically
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