“Big Blue” is having a big week. Shares of IBM surged over 9 percent on Wednesday after the company reported better-than-expected earnings. The move lifted the Dow to record highs and would represent the most positive earnings reaction for the tech giant since 2002. It would also mark only the third time in the last
An investor who stashed $10,000 in a portfolio tracking the Dow Jones Industrial Average at the end of 2001 and held on would have had $28,698 by the end of 2016, for a total return of 7.28 percent annualized, according to Putnam Investments. By missing out only on the Dow’s 10 best days during that
Billionaire Richard Branson is not putting the sale of Virgin America to Alaska Air behind him. On CNBC’s “Squawk Box” on Wednesday, Branson was particularly frustrated at Alaska Air’s decision to kill the Virgin America brand. “The sad thing is that Virgin America has been voted best airline in the states 12 years in a
Beyond the differences in who these millionaires are, if we dig a little deeper, we find that they take a much different approach to managing their money than baby boomers. They invest differently: To start, Gen X/Y millionaires have much higher expectations when it comes to their portfolio performance. And as they continue to be
JPMorgan has agreed to buy payments start-up WePay, in its first major acquisition of a financial technology (fintech) firm. The investment bank said Tuesday it would provide its 4 million small businesses clients with WePay’s payments technology. “With WePay, Chase is taking the work out of payments for both our business clients and the software
U.K.-based InterContinental Hotels Group announced Wednesday it is planning to bring two of its hotel brands to China and Asia Pacific in an attempt to capture new breeds of consumers — the wellness enthusiasts and the wealthy. The new brands are Kimpton Hotels and Restaurants, a luxury boutique chain that operates mostly in the United
Andrew Harrer | Bloomberg | Getty Images Listerine mouthwash bottles move through the production line at the J&J consumer healthcare products plant in Lititz, Pennsylvania. With the Dow Jones industrial average surging through the 23,000 level for the first time ever, Cramer offered investors a piece of contrarian food for thought. “Here’s something you never
It’s no secret that big data is becoming central to almost every industry, but Ajeet Singh, the founder and CEO of private business-intelligence player ThoughtSpot, still sees some obstacles. “We believe that the future belongs to ease of access of data, and we look at big data not as a visualization problem, but really, as
George Soros just gave most of his wealth to his charitable organization, the Wall Street Journal reported Tuesday. The billionaire philanthropist transferred $18 billion to Open Society Foundations, a sprawling international group of charities that works in more than 100 countries on projects focused on refugee relief, public health and many other topics. The $18
Speculation in digital currency bitcoin is apparently spilling over into an obscure e-commerce stock. Shares of Overstock.com closed up nearly 11.6 percent Tuesday after briefly surging more than 14 percent. The stock has hit four-year highs on mounting excitement around the company’s venture into blockchain, the technology behind bitcoin. “I think the new story for
The University of Pennsylvania has produced more billionaires than any other university, according to Forbes. In a ranking of the schools that produce the most billionaires, Forbes said UPenn beat out Harvard and Yale to take the top spot. Thanks in large part to its Wharton School of Business, UPenn has 18 graduates who are
Heading into this week, 81 percent of S&P 500 companies had beaten profit expectations, after 73 percent had done so in the second quarter. In both quarters, investors have had muted reactions to earnings beats. Where shares of those outperforming companies would be expected to rise, they have had almost no reaction. In fact, companies
In Switzerland, tuition is less than $5,000 per year and workers earn an average annual income exceeding $80,000 — that’s $25,000 more than the average in America. Annual earnings in Ireland are about the same as in the U.S. — $55,000 — but schools are tuition-free. U.S. tuition has increased by 63 percent from 2006
Netflix co-founder and CEO Reed Hastings is among 22 newcomers to this year’s Forbes 400 list of the richest Americans. That’s certainly rarefied air, considering the price of admission in 2017 went up nearly 18 percent to $2 billion. Forbes said Hastings had a net worth of $2.2 billion as of the close of the
UnitedHealth, the largest U.S. health insurer, reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast, helped by strength in its pharmacy benefit management business. UnitedHealth, the bellwether for the industry, is the first health insurer to report earnings a week after U.S. President Donald Trump decided to cut off subsidies to health insurance
In August, Estonia proposed its own state-backed digital asset, which would be called “estcoin”. The small Eastern European nation said it was considering the launch of estcoin through an initial coin offering (ICO) — a crowdfunding method that has garnered much scrutiny in recent weeks. And last month, Japan signaled the potential launch of its
A do-not-resuscitate order is a form signed by a doctor used in the event an individual suffers from a serious advanced illness. The form instructs health-care professionals not to perform CPR. Individuals may also want to consider a do not intubate order, which instructs medical personnel not to insert a tube into the body. “It’s
For many recent graduates, student loan debt is literally giving them nightmares. Over the last decade, college-loan balances in the United States have jumped to an all-time high of $1.4 trillion, according to a recent report by Experian. The average outstanding balance is $34,144, up 62 percent over the last 10 years. Those student loan
We know that equity exposure is important for long-term growth, but how should investors be positioned for an equity environment that in all likelihood will be more volatile than in the recent past? One approach in uncertain times is to insist on payment up front â in other words, to invest in stocks that provide
Goldman Sachs posted earnings Tuesday that easily beat expectations on the top and bottom lines, sending shares higher in premarket trading. Traders reacted positively despite another sharp pullback in trading. The bank reported: Earnings of $5.02 per share vs. $4.17 expected by Thomson Reuters. Revenue of $8.33 billion vs. $7.54 billion expected. Goldman has struggled
Donald Trump‘s fortune fell by $600 million, and the president is now tied with Snap founder Evan Spiegel on Forbes’ 2017 ranking of the 400 richest Americans. Trump ranks No. 248 on the billionaires list this year with a net worth of $3.1 billion, according to Forbes, which released the rankings Tuesday. Trump ranked No.
Interviews with more than 2,700 adults over the age of 18 revealed that nearly three-quarters of them said they were struggling with debt, and it was a “high” or “moderate” source of anxiety for 40 percent of them. Almost half of those interviewed were carrying at least $25,000 in debt, and the average debt load
U.S. motorcycle maker Harley-Davidson reported a better-than-expected quarterly profit on Tuesday and maintained its full-year shipments forecast, despite prolonged weak demand in its home market. Harley’s U.S. retail motorcycle sales, or sales by dealers to customers, fell 8.1 percent in the third quarter ended Sept. 24. The company’s total global retail sales dipped 6.9 percent.
Talks for the deal between Airbus and Bombardier first started in August. Enders said the deal was different from an earlier round of talks in 2015, when he abruptly ordered an end to negotiations. He said the CSeries’ has since been certified, entered service and was performing well. “It’s an entirely different situation,” he said.
CNBC’s Jim Cramer often sees the stock market as a fashion show in which stocks fall in and out of style depending on investors’ sentiments at the time. Few stocks embody this back-and-forth better than General Motors, the automaker whose shares were effectively unloved from 2014 to this August, when the stock suddenly broke out.
While CNBC’s Jim Cramer hasn’t exactly been a bull about major legislation passing through Congress, he can’t deny that President Donald Trump’s administration has been good for stocks. “After eight years of democratic rule, businesses feel a lot more confident about an administration that wants to roll back every regulation in the book,” the “Mad
Imagine a permanent house for pop-up shops. That’s what Simon Property Group, the largest mall operator in the U.S., is preparing to unveil next month at one of its properties on Long Island, New York. The platform, known as “The [email protected] Field,” offers retailers early on in their businesses the opportunity to set up shop,
Private equity and venture capital have much in common, and The Economist is partly correct to characterize VC as “private equity for fledglings”. Like their counterparts in PE, VC funds have long lifespans, which allows partners to cultivate long-term growth in portfolio companies rather than focusing on quarterly showings. And like private equity firms, the
It happens during Medicare open enrollment every year: Older Americans’ mailboxes and TV screens fill up with pitches for enrolling in Medicare-related insurance. If you call the number on the ad, you’ll likely end up talking to a licensed insurance agent. The bad news is that if the person works exclusively for one insurer, you
At the same time, the IRS has also extended deadlines for certain tax payments for those who were directly hit by the blazes, as well as firefighters and relief workers who are helping the afflicted areas. The IRS relief targets seven California counties: Butte, Lake, Mendocino, Napa, Nevada, Sonoma and Yuba. Individual taxpayers and businesses