Earlier Wednesday, Dick’s Sporting Goods also said it will no longer sell guns to anyone under 21 and that it will no longer carry high-capacity magazines. These announcements come after a gunman wielding an AR-15 semi-automatic rifle killed 17 students at a Florida high school earlier this month. On Wednesday, President Donald Trump met with
Salesforce stock rose 2 percent shortly after the company reported better-than-expected earnings for the fourth quarter of its 2018 fiscal year, which ended on Jan. 31, after the bell on Wednesday. Here’s how the company did: Earnings: Excluding certain items, 35 cents in earnings per share vs. 33 cents as expected by analysts, according to
Saul Loeb | AFP | Getty Images U.S. Treasury Secretary Steven Mnuchin speaks at a daily press briefing at the White House in Washington, DC, on January 11, 2018. The IRS has launched its new income tax withholding calculator, giving workers guidance on how much they should deduct for these levies under the new law.
Adam Jeffery | CNBC The historic Pony Express cover signed by co-founder William H. Russell estimated to fetch between $75,000 and $100,000 at auction. He also has a block of six of the first U.S. stamps, which were issued in 1847, worth between $500,000 and $750,000. Charles Shreve, director for Robert A. Siegel Auction Galleries
Investors should buy Verizon shares after its drop this year due to tax reform and its attractive valuation, according to one Wall Street firm. MoffettNathanson raised its rating to buy from neutral for Verizon shares, citing the company’s low valuation. “We believe that the stock has sold off enough, and that on balance, the rewards
The renaissance in high-yield bonds looks like it’s over, at least judging by the behavior of short sellers. Demand to borrow ETFs that track junk bonds indexes, a key metric determining short interest, has reached a monetary value of $7 billion, its highest level ever recorded, according to IHS Markit analyst Sam Pierson. “Demand remains
There’s a lot that’s going to be decided in the next three weeks at Disney — and that was before Tuesday’s surprise Comcast bid for 61 percent of Sky. Let’s go over all the different cross currents and decision points that are up in the air right now. Friday March 16 will be about 90
We’re only a couple of months into the new year, yet accountants are already drafting strategies to help their clients save on taxes under the new tax code. A survey from the American Institute of Certified Public Accountants showed that 63 percent of affluent individuals said they were likely to tweak their financial planning strategies.
A spokesman for BlackRock said the company doesn’t discuss its voting plans prior to a shareholder meeting. In another shareholder proposal this year, nuns asked Dick’s Sporting Goods, a major gun seller in the U.S., to reevaluate its sales of military-style assault weapons to civilians, among other requests. On Wednesday, Dicks’ CEO Edward Stack, saying
Getty Images A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California. Shares of Hertz Global sank further after the opening bell on Wednesday, with the car rental company’s post-earnings call failing to settle investors’ nerves after it reported a bigger-than-expected
Porsche plans to equip its 189 U.S. dealerships with 800-volt fast-charging stations in an effort to sell its forthcoming Tesla-fighter, the Mission E electric sedan. The German automaker already has six such EV stations at its Porsche Experience Center in Atlanta, home of its North American headquarters, and plans to add more soon at its
Off-price apparel retailer TJX on Wednesday beat analysts’ estimates forholiday-quarter same-store sales as discounts drew more shoppers to its Marmaxx and TJX Canada stores, sending its shares to a record high. The company’s shares rose as much as 8.6 percent to $83.95 in early trading. TJX, which has succeeded in bucking the larger slowdown in
Valeant Pharmaceuticals on Wednesday gave a weaker-than-expected revenue forecast for 2018, as several of its major drugs face more competition from generics. The Canada-based drugmaker’s revenue will also be pressured as the company continues selling off businesses to free up cash and reduce its debt burden of some $25 billion. Valeant has already divested its
Reporting requirements for foreign accounts have become a high-profile issue. Last week, special counsel Robert Mueller filed a slate of charges against two former Trump campaign officials, Paul Manafort and Rick Gates. Among the allegations were charges of “failure to file reports of foreign bank and financial accounts.” After Gates pleaded guilty to conspiracy and
However, for many people with hefty state and local tax bills, the new federal tax law gives municipal bonds some appeal. The new law caps the state and local tax deduction that can be claimed on federal returns at $10,000. For many households, that cap will outweigh any potential benefits from other changes in the
Sherwin-Williams is deepening a decades-old relationship with Lowe’s, making it the only nationwide home center to offer Sherwin’s popular brands including Minwax, Cabot and Thompson’s Water Seal. Sherwin-Williams will continue to operate its own stores. On the day the deal was announced, Lowe’s also reported quarterly earnings that fell short as profit margins were squeezed.
Indian music streaming service Gaana has raised $115 million in a funding round led by Chinese tech giant Tencent. Gaana, a competitor to Spotify, said Wednesday it would look to use the raised capital to invest in artificial intelligence to personalize its music platform and develop its paid-user subscription product. The firm was established in
Aaron P. Bernstein | Reuters White House Senior Adviser Jared Kushner departs following his appearance before a closed session of the Senate Intelligence Committee as part of their probe into Russian meddling in the 2016 U.S. presidential election, on Capitol Hill in Washington, U.S. July 24, 2017. Officials in the United Arab Emirates, China, Israel
Canceling a discount partnership with the National Rifle Association was a “stupid move” on the part of Delta Air Lines, said Georgia state Sen. Michael Williams. But that’s not the reason the Republican legislator is in favor of blocking a jet fuel sales tax exemption, he said. “We do not support crony capitalism and giving
Qilai Shen | Bloomberg | Getty Images A man walks past a sign for Baidu Inc. at the entrance to the Baidu Technology Park in Beijing, China, on Friday, Nov. 25, 2016. Chinese video streaming service provider iQiyi, a unit of Baidu, on Tuesday filed for an initial public offering of up to $1.5 billion
It looks like the Tooth Fairy was strapped for cash in 2017. The average payout for a child’s tooth dropped from $4.66 to $4.13, a decrease of 11%, according to an annual survey by Delta Dental, which asked 1,007 parents of 6- to 12-year-olds about Tooth Fairy spending habits. The poll was conducted in mid-December.
Joshua Roberts | Getty Images Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, November 28, 2017. Federal Reserve Chairman Jerome Powell said exchange-traded funds were not the main reason behind the market decline earlier this year. “We looked
How do you stack up against the wealthiest Americans? To be a 1 percenter, you need to have an adjusted gross income of at least $480,930, according to the latest data from the IRS, which looked at income statistics for tax year 2015. The top 1 percent accounted for 1.4 million individual income tax returns
As Federal Reserve chairman, Jerome Powell oversees monetary policy and regulates banks. But members of Congress questioned him as if he were an omnipotent politician capable of addressing all sorts of issues that fell beyond the normal duties of central banking. The hot seat questioning reached its apex during grilling from Rep. Stephen Lynch, a
Coleman noted the number of insider sales transactions rose 28 percent in the past week versus the previous week, while the number of insider purchases fell by 34 percent in the same time period. The S&P 500 fell officially into correction territory in early February, down more than 10 percent from its record reached in
Taxation of stock options depends on what kind you have, and how long you hold those options before selling them. There are incentive stock options (which must meet specific rules under the tax code) and non-qualified stock options (pretty much everything that isn’t an ISO). For non-qualified stock options, generally speaking, you pay taxes when
Two weeks ago, the embattled Weinstein Company looked like it had finally found a way forward. An investor group had emerged with a plan to buy 90 percent of the studio’s assets, including rights to “Project Runway” and a 277-film library. The new company would be primarily led by women. For the Weinstein Company, crippled
Policymakers need to be on guard for imbalances in the financial system, but there appears little danger of that being the case now, Federal Reserve Chairman Jerome Powell said Tuesday. Still, the central bank chief indicated that the Fed plans on hiking rates three times this year and may be inclined to a fourth, particularly
A period of very calm and quiet trading has lulled investors into a sense of complacency that, by some measures, has not been seen in years, according to some financial advisors. The recent sharp movements in markets have been a wake-up call for complacent investors, experts say. From February 2016-January 2018, volatility in the stock
They say love is blind, but not when it comes to credit card debt. More than 3 in 4 Americans consider too much card debt a relationship deal breaker, according to personal finance site Finder.com. How much is too much? On average, the debt became unacceptable once balances topped $11,525, the site found. Fortunately, that