Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019. Adam Jeffery | CNBC DoubleLine CEO Jeffrey Gundlach is betting on gold. “I am certainly long gold,” Gundlach said in an investor webcast on Thursday. He added his trade is based on the expectation that the dollar will finish the
Finance
Truist. That’s the new name for the combined banks SunTrust and BB&T, which are in the process of a “merger of equals.” The two banks will operate as Truist Financial, the companies announced on Wednesday, with a new headquarters in Charlotte, North Carolina. Truist came about through a partnership with consultant Interbrand. The companies said
Fintech start-up Revolut launched its app in Australia on Thursday, marking its first expansion outside of Europe. The online banking platform said it would gradually sign up 20,000 Australians already on a waiting list, while new customers will have to wait a little longer. Revolut has grown rapidly since it was founded in 2015, racking
Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE). Drew Angerer | Getty Images Check out the companies making headlines after the bell: Shares of fitness clothing company Lululemon rose roughly 4% in extended trading following a strong first-quarter earnings report. The company reported earnings
David Gurle, CEO, Symphony Source: Symphony Symphony, a messaging platform for Wall Street firms, has been valued at $1.4 billion, according to people with knowledge of the company. The start-up will soon announce that it raised $165 million from investors to fuel its global expansion, according to the people. Symphony’s latest valuation is a relatively
Customers play a basketball arcade game at a Dave & Buster’s Entertainment Inc. location in Pelham, New York. Timothy Fadek | Bloomberg | Getty Images Check out the companies making headlines after the bell: Shares of entertainment and restaurant company Dave & Buster’s fell 17.6% during extended trading after missing earnings and revenues estimates and
Bernard Charles, chief executive officer of Dassault Systemes SA. Simon Dawson | Bloomberg | Getty Images French technology company Dassault Systèmes is nearing a deal to acquire Medidata Solutions, according to people familiar with the matter. The likely agreement was reported earlier by Bloomberg, which also published a story in April saying the companies were in
European businesses are increasingly anticipating a recession in the near future as bad debt losses showed a marked increase in 2018. Companies reported 2.31% in bad debt losses in 2018 as a share of total revenues, an increase from 1.69% in 2017, according to a report from Swedish debt purchaser Intrum. Half of European companies
Check out the companies making headlines after the bell: Traders work the floor at the NYSE in New York. Brendan McDermid | Reuters Shares of Broadcom rose 1.9% after news that the chipmaker had entered into a two-year supplier deal with Apple. Under the agreement, Broadcom will provide radio-frequency, front-end components and modules for a
Beyond Meat CEO Ethan Brown speaks before ringing the opening bell at Nasdaq MarketSite, May 2, 2019 in New York City. Drew Angerer | Getty Images Check out the companies making headlines in midday trading Monday: Beyond Meat— Shares of Beyond Meat popped more than 23%, on pace for its third best day ever. Earlier
Check out the companies making headlines before the bell: United Technologies – United Technologies and Raytheon have announced a stock swap merger. Raytheon shareholders will receive 2.3348 shares for every share they now own, and the new company will be known as Raytheon Technologies. Salesforce.com – Salesforce will buy analytics platform company Tableau Software in
President Donald Trump tours the area around the U.S.-Mexico border wall in Calexico, California, U.S., April 5, 2019. Kevin Lemarque | Reuters Stock futures indicated that the Dow Jones Industrial Average would open more than 100 points higher Monday in the wake of President Donald Trump’s decision to suspend planned tariffs against Mexico. Trump announced
Chris Hutchins, co-founder of financial planning company Grove, has roughly 16 credit cards. Here are just a few. Emma Fierberg | CNBC Make It Swiping a credit card or paying online is one consumer area that may be relatively immune to slowing globalization — or as Morgan Stanley puts it, “slowbalization.” Given their exposure to
FAANG stocks displayed at the Nasdaq. Adam Jeffery | CNBC Washington’s apparent assault on big tech companies like Alphabet, Facebook and Amazon could be a blessing in disguise for investors as they present a massive buying opportunity. Alphabet and Facebook shares fell 3.4% and 2.3%, respectively, for the week. Amazon was up 1.6%, but lagged
Robert Lighthizer, U.S. trade representative, right, and Steven Mnuchin, U.S. Treasury secretary. Alex Edelman | Bloomberg | Getty Images Treasury Secretary Steve Mnuchin said Saturday that President Donald Trump still has the authority to impose tariffs on Mexico if it does not live up to the terms of a deal to strengthen immigration enforcement and
Marijuana is growing on U.S. consumers. Last week, Illinois became the 11th U.S. state to approve cannabis for recreational adult use, joining a growing cohort that includes California, Vermont and Michigan. The law will go into effect on Jan. 1, 2020. Now, U.S. cannabis companies like Cresco Labs are undergoing expansion so they’re able to
Stocks have been rallying hard on the idea the Federal Reserve will cut interest rates soon, but at some point the market needs to see progress on the trade wars and economic weakness that are bothering the Fed. Friday’s surprisingly soft May jobs report showed just 75,000 jobs created, 100,000 less than expected. That immediately
John Stankey Stephen Desaulniers | CNBC AT&T‘s WarnerMedia CEO John Stankey made a promise to his wife, Shari. He’d received episodes of the last season of “Game of Thrones” in advance. But he wouldn’t watch. Instead, he’d watch with her, in real time, at home — including the finale. “No big party,” said Stankey last
Now that the long resilient job market is showing signs of strain, economists and investors now firmly believe the Federal Reserve will move to cut rates this year, possibly as early as July. The economy added 75,000 jobs in May, about 100,000 less than expected, a sign that the slowing that is showing up in
Pedestrians walk along Broadway near the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts said America’s financial sector is unlikely to be a target. There’s just