Business Insider•2 hours agoHere’s why cryptocurrencies are getting smoked on Monday
A data adjustment by CoinMarketCap caused cryptocurrency prices to drop on Monday. Prices of the world’s largest cryptocurrencies appeared to take some major hits on Monday morning after CoinMarketCap.com, arguably the most popular and important site for cryptocurrency pricing data, opted to remove South Korean exchanges from its data sources. Cryptocurrencies have been known to trade at significant premiums in South Korea, often times many magnitudes higher than on other exchanges, due to localized demand and strict national controls on capital movement.
Business Insider•7 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
Reuters•9 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.
- CNBC Videos•3 hours ago
Former SEC official: Timing of stock sale by Intel's Krza...
Teresa Goody, Goody Group founder and former SEC official, discusses Intel CEO Brian Krzanich's sale of stock ahead of the revelation of a security flaw in the company's high-performance chips.
- barrons.com•6 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
- Business Insider•3 hours ago
GoPro cuts over 250 jobs and reduces its CEO's cash pay to $1 in huge restructuring plan (GPRO)
GoPro on Monday announced a big restructuring plan as part of its effort to become profitable this year. 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.
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
- Bloomberg•6 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.
- Associated Press•23 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•4 hours 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.
Reuters•2 hours agoToyota unveils self-driving concept vehicle for rides, deliveries
Toyota Motor Corp announced on Monday a self-driving electric concept vehicle that it will tailor for companies to use for tasks like ride hailing and package delivery, underscoring how automakers are no longer simply building cars but also providing services to go with them. The world's second-biggest carmaker said it plans to begin testing the e‐Palette concept vehicle in various regions, including the United States, in the early 2020s. It will come in three sizes: a bus-sized vehicle, a shuttle and a small delivery vehicle sized to run on sidewalks.
- Yahoo Finance•7 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.
- BBC News•25 minutes ago
Google sued over 'male discrimination'
The class action lawsuit accuses the tech giant of discriminating against conservative white men.
- Yahoo Finance•yesterday
Financials, retail, and Washington — What you need to know for the week ahead
In the week ahead, investors will contend with a slow economic and earnings schedule for the first couple days of the week, with small business optimism and job openings data on Tuesday serving as a highlight. On Friday, investors will get December readings on inflation and retail sales along with a flood of earnings from the financial sector, unofficially kicking off earnings season. JPMorgan earnings on Friday will be a highlight for investors as fourth quarter earnings season gets underway.
- CNBC Videos•13 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.
- 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
- Bloomberg•6 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
Bloomberg•7 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.
Business Insider•6 hours agoNvidia is rallying after rocking its CES keynote (NVDA)
Nvidia announced a partnership with Uber for autonomous driving. The company also said it is shipping its new autonomous driving chip. Nvidia didn't leave gamers out, as it announced new display tech and the open beta for its game streaming platform.
- MarketWatch•13 hours ago
Bitcoin pulls back further from $17,000
The price of a single bitcoin continued to back away from the $17,000 level it reached over the weekend, as previously highflying cryptocurrency Ripple coins lost further ground. On Monday, the bitcoin spot price BTCUSD, -5.02% BTCUSD, -5.02% was down around 2% at $15,856.55, having hit around $17,135 on Saturday, according to CoinDesk. Bitcoin futures for January BTCF8, -7.02% on the CME were changing hands at $15,875, a 4.5% drop from Friday’s settlement. On the CBOE, futures XBTF8, +12.21% were changing hands at $15,960. The price of another cryptocurrency, Ripple coins, which surged 150% at one point last week, also continued to pull back. It was changing hands at $2.62 for a single coin
- Oilprice.com•yesterday
China Is About To Shake Up Oil Futures
Additionally, Levison warns Washington that besides serving as a hedging tool for Chinese companies, the contract will aid a broader Chinese government agenda of increasing the use of the yuan in trade settlement... and thus the acceleration of de-dollarization and the rise of the Petro-Yuan. China has been planning this for a number of years and given rising tensions, now seems like a good time for China to flex a little. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest -- a first for China’s commodities markets -- because the exchange is registered in Shanghai’s free trade zone.
- Zacks•8 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•4 hours 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.
- MarketWatch•yesterday
Here’s what all 30 companies that make up the Dow industrials think about the tax cuts
President Donald Trump can make corporate America great, or at least more competitive, after he signed the tax bill into law Friday, according to a MarketWatch survey of the large multinational members of Dow Jones Industrial Average. Almost all the companies that responded applauded the legislation, mostly in the broadest sense and largely in corporate-speak without specifics, saying the lowered corporate tax rate would “allow” or “enhance” the ability of U.S.-headquartered companies to compete more fairly with overseas-based companies. The new tax law lowers the maximum corporate tax rate to 21% from 35%. Don’t miss: Here are the winners and losers of the final version of the Republican tax
Reuters•54 minutes agoGoPro says open to sale but not actively pursuing
The comments followed reports by several media outlets, including Reuters, that GoPro had hired J.P. Morgan to help it with a sale process, as the one-time Wall Street favorite battles falling demand for its sports cameras and drones. The company's shares, which fell as much as 33 percent to a record low of $5.04 on Monday, recouped some of their losses after the sale talks were first reported by CNBC.
