Business Insider•4 hours agoRipple’s XRP cryptocurrency is plunging
Ripple's XRP, the third largest cryptocurrency by market cap, slumped as much as 20% Monday morning as all three of the world’s largest digital tokens came under pressure. XRP is currently trading at $2.32, according to data from Markets Insider, and
Bloomberg•5 hours agoBitcoin Is Tumbling Again
Bitcoin slumped as much as 14 percent as the world’s largest cryptocurrency continues to be whipsawed by concerns about regulation and demand from Asia. "The fuss about regulators tightening screws in South Korea is pushing the price of bitcoin,” saidNaeem Aslam, chief market analyst at TF Global Markets in London. China plans to limit power use by some bitcoin miners, people familiar with the matter said last week, a potential challenge to an industry whose energy-intensive computer networks enable transactions in the cryptocurrency.
- Bloomberg•3 hours ago
Berkshire to Reap Estimated $37 Billion Bump From U.S. Tax Cut
Berkshire Hathaway Inc. is poised to report a huge increase in the yardstick that Warren Buffett uses to measure progress at his conglomerate, thanks to the recent changes in U.S. tax law. Book value, a measure of assets minus liabilities, probably rose by 12 percent or $37 billion in the final three months of the year, analysts from Barclays Plc wrote in a note to clients on Monday. The one-time increase will result from Berkshire lowering its tax liability on appreciated investments.
- CNBC Videos•11 hours ago
Novo Nordisk submits proposal to buy biopharmaceutical fi...
Novo Nordisk CFO Jesper Brandgaard speaks about his company's attempt to buy Belgian pharmaceutical company Ablynx.
- Business Insider•31 minutes ago
GoPro cuts over 250 jobs and reduces its CEO's cash pay to $1 in huge restructuring plan (GPRO)
The action-camera maker said it would lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman's 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast. In its preliminary fourth-quarter results released Monday, the maker of action cameras said it was reducing its global workforce to fewer than 1,000 employees from 1,254.
Reuters•6 hours agoBitcoin is an asset, not a currency: Israel's central bank
Israel's central bank said on Monday it would not recognise virtual currencies such as bitcoin as actual currency and that it was difficult to devise regulations to monitor the risks of such activity to the country's banks and their clients. Deputy Governor Nadine Baudot-Trajtenberg said there had been public complaints Israeli banks were making it difficult for some customers to transfer money from their accounts to buy bitcoin. Other central banks faced the same problem.
The Street•yesterdayGeneral Electric Is Shockingly One of the Hottest Stocks of 2018
We're only finishing up the first trading week of 2018, and it's already proving eventful. For starters, stocks are following through on 2017's uber-bullish price action. The Dow Jones Industrial Average crossed the 25,000 level for the first time in history this week, and investors are looking to even more upside in the year ahead. But the best-performing Dow component this year may surprise you. It's not last year's high-flyer Boeing Co. (BA) , or tech giant Apple Inc. (AAPL) . It's serial laggard General Electric (GE) . GE is up around 6.3% year-to-date, outperforming the rest of the market in a big way in the early days of 2018. And as GE's chart shows now, this could just be the beginning
- Associated Press•21 hours ago
South Carolina utility won't pay former executives severance
There will be no golden parachutes for executives of a South Carolina utility that's struggling after sticking consumers with higher bills for a failed nuclear reactor expansion. Directors of SCANA Corp. decided against awarding severance packages potentially worth tens of millions of dollars to former chief executive Kevin Marsh and operations chief Steve Byrne, multiple media organizations reported. "This decision is in the unique context of the abandonment and the company's responsibilities to our ratepayers and shareholders," SCANA spokesman Eric Boomhower wrote in email Friday.
Associated Press•56 minutes agoRetail workers feel disruption from shifting shopper habits
The retail industry is being radically reshaped by technology, and nobody feels that disruption more starkly than 16 million American shelf stockers, salespeople, cashiers and others. The shifts are driven, like much in retail, by the Amazon effect — the explosion of online shopping and the related changes in consumer behavior and preferences. A Walmart worker dashes in and out of the grocery aisles, hand-picks products for online shoppers and brings them to people's cars.
- Zacks•1 hour ago
Here's Why GoPro Stock Just Sunk to New Low
GoPro GPRO stock plummeted over 30% on Monday to hit a new all-time low after the company announced that it is set to cut jobs and anticipates weaker than expected fourth-quarter results. The action camera company released a statement on Monday morning noting that GoPro expects to post $340 million in fourth-quarter revenues, which would mark a 37% year-over-year sales decline in the highly important holiday quarter. The company noted that it will slash the price of its Hero6 cameras from $499 to $399, which GoPro said would lower revenues by roughly $80 million in the fourth quarter.
The Street•5 hours agoJust How Much Juice Can We Get Out of Nvidia? Market Recon
Many of you took the 2017 ride to victory in Nvidia (NVDA) . I did as well. We are not smart, or elite, but among the many. The chart, the performance of the industry, the performance of the entire sector tells us that. Though, to our credit, most of us did not screw up this chance to realize large gains. Not that I didn't try, to be honest. The question now becomes this: Just how much juice can we still get out of this thing? I am sure it's not lost on any of us just how kind the last four business days have been. Let's see if a glance at the charts tells us anything. We'll take this thing back to June, as that was the last major selloff in the name prior to the one just experienced. Apple,
- barrons.com•3 hours ago
“Stable Dividend” Means CenturyLink Isn’t a Sell
CenturyLink (CTL) had a tough 2017, and the stock has fallen more than 32% in the past 12 months. However, Goldman Sachs believes that the worst may be over for the beleaguered wireline firm. Analyst Brett Feldman and his team upgraded the shares from Sell to Neutral on Monday, although he also lowered his target price from $19 to $17. He writes that he doesn't see additional downside for the stock, while it could deliver as much as a 13% total return, given its hefty 12.6% yield. Feldman believes that the dividend payout, while high, still looks sustainable and attractive, thanks to synergies from CenturyLink's acquisition of Level 3 Communications. However, he's not quite ready to call the
Reuters•27 minutes agoGoPro considering selling itself, hires J.P. Morgan - source
Earlier in the day, the company lowered its fourth-quarter revenue forecast on weak demand for cameras in the holiday season and announced its plan to exit the drone business. The action camera maker's shares, which fell as much as 33 percent to a record low of $5.04, recouped some of their losses after the sale talks were first reported by CNBC. "If there are opportunities for us to unite with a bigger parent company to scale GoPro even bigger, that is something that we would look at," Chief Executive Nick Woodman told CNBC.
- Bloomberg•3 hours ago
Seagate, Western Union Surge on Speculation of Stakes in Ripple
First it was Western Union Co. investors who got ripple fever. Now its stockholders of Seagate Technology Plc who are cashing in on speculation that the firm has ties to one of the hottest digital coins. Shares of Seagate, the largest maker of computer drives, are surging after a little-followed blog contributor suggested the company may have a stake in Ripple, the company behind the third-most-valuable cryptocurrency. The stock’s rally comes just days after Western Union was the subject of similar Internet conjecture. “Seagate may own over 4% of Ripple,” wrote ValueStreet Research, a Seeking Alpha contributor with fewer than 100 followers, in a post Monday. “If Seagate still has its Ripple
- MarketWatch•2 hours ago
How to generate the income you need in retirement
You’ve spent your whole life saving for retirement . Now you’re finished working, and it’s time to start spending what you’ve saved. For many investors, the transition can be confusing or even traumatic. How will you tap your portfolio? As investors approach this transition from saving to spending they should take three steps: start with a retirement income plan, keep their portfolio invested and diversified, and then rebalance their portfolio periodically to generate the cash they require. Here we’ll discuss the last step — creating your paycheck when rebalancing. Why is this important? If you’re an investor, you’ve almost certainly heard of having an appropriate asset allocation to stocks and
- Investopedia•2 days ago
Top 5 Monthly Dividend Stocks for 2018
Most dividend-paying stocks do so on a quarterly basis, but you can find equities that will pay you each month. If you reinvest dividends, you can grow a position more quickly by buying shares each month. For those who invest in dividend stocks for income
Yahoo Finance•8 hours agoMorning Brief: Apple investors say iPhones are bad for kids
JPMorgan Chase (JPM), Wells Fargo (WFC), PNC Financial (PNC), and BlackRock (BLK) are all scheduled to report earnings on Friday as the highly-anticipated fourth quarter earnings period gets underway. Celgene to buy Impact Biomedicines: U.S. biotech pharmaceutical firm Celgene Corp. said on Sunday that it had agreed to acquire Impact Biomedicines for as much as $7 billion, subject to certain milestones associated with regulatory hurdles and sales performance. Celgene is interested in Impact Biomedicines’ fedratinib, a kinase inhibitor that has shown promise as a potential treatment for a type of blood cancer called myelofibrosis, according to a statement put out jointly by both companies.
- CNBC Videos•21 hours ago
China currency outflows have eased with a weaker dollar
Johanna Chua of Citi says China has seen solid currency inflows for bond purchases and a weaker dollar stemming outflows.
- Zacks•6 hours ago
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, Marathon Oil, Anadarko and Occidental Petroleum
Stocks recently featured in the blog include ExxonMobil XOM, Chevron CVX, Marathon Oil Corp. MRO, Anadarko Petroleum Corporation APC and Occidental Petroleum Corp. OXY. Meanwhile, some of the biggest gainers of the S&P 500 during the period were oil and oil-related stocks like Marathon Oil Corp. and Anadarko Petroleum Corporation.
- Zacks•6 hours ago
Xilinx (XLNX) Catches Eye: Stock Jumps 5.2%
Xilinx, Inc. XLNX was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. The stock picked up sharply from the near-flat
- Bloomberg•19 hours ago
Pfizer to Cut 300 Jobs as Alzheimer's, Parkinson's Research Ends
Pfizer Inc.’s decision to stop research and development into new neuroscience drugs, including its work in Alzheimer’s and Parkinson’s diseases, will lead to about 300 job cuts. The move to end the neuroscience-discovery program followed an internal review, the New York-based drugmaker said in an emailed statement. The job reductions will primarily affect employees at facilities in Cambridge and Andover in Massachusetts, as well as Groton, Connecticut. Pfizer said it will continue its support of tanezumab, a late-stage pain treatment in development with Eli Lilly & Co., and the fibromyalgia drug Lyrica, as well as research into neurological drugs for rare diseases. The company also plans to soon
- Yahoo Finance•5 hours ago
The biggest misconceptions about bitcoin
The price of bitcoin rose 1,221% in 2017. Here are three of the most common misconceptions about bitcoin. Bitcoin brokerages that are above-board are all licensed in some manner: Coinbase registered as a “money services business” with FinCEN, the Financial Crimes Enforcement Network, while Gemini registered as a “trust” with NYDFS, the New York Department of Financial Services.
- Zacks•6 hours ago
Disney's The Last Jedi off to Disappointing Start in China
The Walt Disney Company’s DIS Star Wars: The Last Jedi, which shattered records at domestic box office had disappointing opening in China. In the opening weekend, the company managed to collect only $28.7 million, which came in below its last two Star Wars movies. Notably, Star Wars: The Force Awakens and Rogue One: A Star Wars Story have recorded $52.3 million and $30 million in ticket sales, respectively, in China in the opening weekend.
- Bloomberg•53 minutes ago
Google Engineer Sues Over Firing for Memo on Gender Differences
The engineer who was fired by Google after he criticized its diversity policies for ignoring differences between the sexes sued his ex-employer, alleging that he and others at the internet giant were harassed over their conservative political views. James Damore on Monday filed a class-action complaint in state court in San Jose, California, after setting off a firestorm in August with a 10-page memo blasting Google’s “left bias” for creating a "politically correct monoculture."
Reuters•14 hours agoFord to launch diesel truck to grab fuel economy edge
Ford Motor Co plans this spring to offer a diesel engine version of its best-selling F-150 pickup truck, looking to gain a marketing edge as its main rivals ramp up more efficient pickups of their own. Ford executives said they expect the F-150 diesel model with a 10-speed transmission to achieve 30 miles per gallon highway fuel efficiency, a level comparable to some midsize cars. The diesel F-150 will cost between $2,400 and $4,000 more than a comparable gasoline truck, depending on the specific model, Ford executives said.
