- BusinessThe Street•5 minutes ago
This Is Why the Federal Reserve Needs to Raise Interest Rates Again This Year
The Federal Reserve is likely to stick to its 2017 target of three rate hikes, by pulling the trigger one more time this year. That's the assessment from David Bahnsen, chief investment officer at The Bahnsen Group of HighTower Advisors.
- BusinessCNBC.com•32 minutes ago
Cisco slides after revenue beat
Cisco stock dropped slightly on Wednesday after the company released earnings for the fourth quarter of its 2017 fiscal year, which ended in July. The company will hold a press conference with financial analysts at 4:30 p.m. Eastern time. EPS: Excluding certain items, 61 cents in earnings per share vs. 61 cents in earnings per share as expected by analysts, according to Thomson Reuters. Revenue: $12.1 billion vs. $12.06 billion as expected by analysts, according to Thomson Reuters. Revenue -- which was down 4 percent year over year -- has now declined on an annualized basis for seven consecutive quarters. Still, Cisco has beaten earnings and sales estimates for every quarter since CEO Chuck Robbins
- BusinessMarketWatch•8 hours ago
New CEO, no problems: UnitedHealth leadership transition praised by Wall Street analysts
UnitedHealth Group Inc.’s leadership transition, with the company’s new chief executive announced on Wednesday, was praised by two Wall Street analysts that day. Under the announcement, President David Wichmann will become UnitedHealth UNH, +0.41% CEO starting September 1 and current CEO Stephen Hemsley will become executive chairman of the board of directors. “Management is the single most important factor in our view of UNH — and with Hemsley staying in a very important operating/strategic role, we are very comfortable with this change,” said Mizuho analyst Sheryl Skolnick. “That’s critical to us — that Steve, who made the transition from ‘the guy who makes the trains run on time’ to the
