- Yahoo Finance•8 hours ago
Apple says it will invest $350 billion in the U.S. over the next five years
Apple (AAPL) is making a major investment in the U.S. economy. In a release on Wednesday afternoon, the world’s largest publicly-traded company said it would make a “direct contribution” of $350 billion into the U.S. economy over the next five years. The company said this number does not include ongoing tax payments, or tax revenue generated by wages paid to employees or sales tax on Apple products.
- Zacks•yesterday
As Bitcoin Plummets, Here Are 3 Cryptos Gaining Today
Nearly every major cryptocurrency—including bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash—has experienced substantial losses on Tuesday, highlighting concerns over potentially catastrophic regulatory changes in key Asian markets. Similarly, Litecoin has shed about 16.4%, Ripple has crashed more than 24.7%, and Bitcoin Cash has dropped roughly 20.7%. The total market capitalization of the 1,450 cryptocurrencies tracked by CoinMarketCap slumped from a 24-hour high of $713.64 billion to a low of $536.65 billion earlier this morning.
- CNBC•14 hours ago
Apple gets rare downgrade because analyst believes iPhone cycle is just 'good, not great'
The iPhone cycle will disappoint this year, according to one Wall Street analyst, who issued a rare downgrade of one of the market's most popular stocks. Longbow Research lowered its rating for Apple (AAPL) shares to neutral from buy, predicting the company will ship fewer iPhones than expected in fiscal 2018. "Apple found iPhone price elasticity with the introduction of the X blunting some demand.
- CNBC Videos•15 hours ago
We're in the midst of biggest wealth transfer in history:...
Dan Novaes, Current co-founder and CEO, discusses volatility in the cryptocurrency markets.
- Zacks•12 hours ago
Is Celgene (CELG) Looking to Take Over Juno Therapeutics?
Per reports, biotech bigwig Celgene Corporation CELG is looking to acquire smaller biotech Juno Therapeutics JUNO. Celgene is on the look-out of new deals and acquisitions given a lacklustre 2017. Celgene suffered a series of setbacks over the last few months. Earlier in Jan 2018, Celgene announced it will acquire Impact Biomedicines for an upfront amount of $1.1 billion.
- Zacks•4 hours ago
Alcoa (AA) Sinks On Q4 Loss, Earnings & Sales Miss
Alcoa Corp. AA just released its fourth quarter 2017 financial results, posting adjusted earnings of $1.04 per share and revenues of $3.17 billion. Currently, Alcoa is a Zacks Rank #3 (Hold), and is down over 5% to $54 per share in after-hours trading shortly after its earnings report was released. Alcoa posted a Q4 net loss of $196 million, which includes the financial impacts of previously announced strategic priorities.
- Zacks•12 hours ago
Realty Income (O) Announces Hike in Monthly Dividend Payment
Retail REIT Realty Income Corporation O has announced a hike in its common stock monthly cash dividend, rejoicing shareholders. This marks the company’s 95th dividend increase since its NYSE listing in 1994. The company will now pay 21.90 cents per share against 21.25 cents paid earlier.
- Fox Business•2 days ago
FedEx CEO on tax bill: I’m sure we will be doing a lot of things as a result
FedEx (NYSE:FDX) CEO Fred Smith said on Tuesday tax reform will boost the balance sheets of American businesses and stimulate investment in the United States. Many companies, including Wal-Mart (NYSE:WMT), AT&T (NYSE:T) and Boeing (NYSE:BA), are giving back by raising pay and doling out employee bonuses, as a result of the tax bill. It passed in between our board meetings and I’m sure we are going to be doing a lot of things as a result of this tax bill because it was very, very good policy,” he said.
- Bloomberg•16 hours ago
What Could Kill the Bitcoin Boom
If you bought a Bitcoin in early 2017, when one cost less than $900, you could have a profit of more than 1,200 percent now. More than $2,000 of that decline came in about 24 hours, after South Korean Finance Minister Kim Dong-yeon indicated the country may crack down on cryptocurrency trading to discourage speculation. For the many doubters who can’t believe things have come this far—and for Bitcoin owners who can see how much they might lose—the big question is what it would take to knock the price back further.
- Zacks•12 hours ago
Energy Transfer Partners Divests Compression Units for $1.8B
Pipeline operator, Energy Transfer Partners ETP recently agreed to divest its compression units, CDM Resource Management and CDM Environmental & Technical Services LLC, to natural gas compression services provider, USA Compression Partners, LP USAC for about $1.8 billion. Per the deal, USA Compression will pay $1.225 billion in cash along with 19.2 million of its common units and 6.4 million of its Class B units to Energy Transfer Partners.
- The Street•2 days ago
How to Collect Social Security Spouse or Survivor Benefits
Question: My ex-husband passed away recently. I was married to him for more than 10 years, from 1959 to 1971. What would I be entitled to if I made a claim for part of his benefits? I currently receive $1,069 per month from Social Security. I am now 78 years old. He was 82 when he recently passed. I appreciate any advice you can give me. Answer: According to Social Security Administration (SSA), if you're getting benefits based on your own work, you should call (1-800-772-1213) or visit an SSA office. The SSA will check to see if you can get more money as a widow (or widower). If so, you'll get a combination of benefits that equals the higher amount. You must, however, complete an application
- U.S.News & World Report•yesterday
It's Time to Break Up General Electric Company (GE)
General Electric Co (NYSE: GE) shares plunged today, losing 4 percent after announcing that its insurance business -- a part of the slimmed-down GE Capital -- would take a $6.2 billion charge for the fourth quarter. GE stock's recent performance, its $6.2 billion insurance loss, longtime efforts to shed the risks and assets of GE Capital, and comments from the new CEO on Tuesday all make clear that a breakup may be imminent and necessary. "We are looking aggressively at the best structure or structures for our portfolio to maximize the potential of our businesses," GE CEO John Flannery says.
- CNBC•2 days ago
Bitcoin headed to $100,000 in 2018, says analyst who predicted last year's price rise
Bitcoin (Exchange: BTC=) could hit $100,000 in 2018, an analyst who correctly predicted the cryptocurrency's rally at the start of last year told CNBC on Tuesday. Kay Van-Petersen, an analyst at Saxo Bank, added that other rival digital coins could also outperform. Van-Petersen forecast in December 2016 that bitcoin would reach $2,000 in 2017 .
Business Insider•8 hours agoApple is building a new campus and will hire 20,000 new employees (AAPL)
Apple on Wednesday announced plans to open a new campus in the United States and said it would hire 20,000 new employees over the next five years. It also says it plans to pay $38 billion in repatriation tax. CNBC estimated that with the new repatriation tax rate of 15.5%, the company would bring nearly all its overseas cash, or about $245 billion, back to the United States.
- CNBC Videos•7 hours ago
Bulls betting on Marathon Oil and this steel stock
"Halftime Report" traders Jon & Pete Najarian spot aggressive call buying in Marathon Oil and AK Steel Holding.
- Investopedia•yesterday
Why Ripple May Still End Up on Coinbase
Ripple, currently the third-largest digital currency in the world after bitcoin and ethereum, had an extraordinary end to 2017. In the last few days of the year, the price of XRP climbed dramatically. In the process, and with tokens trading for more than $3 each, ripple catapulted past ethereum to become the second-largest cryptocurrency by market cap. (See also: Ripple Briefly Was 2nd Most Valuable Cryptocurrency.) Although it has since fallen by a significant margin, in the first days of 2018, ripple had generated a great deal of excitement. (See also: Bitcoin Price Slides Further; Ripple Builds Lead Over Ethereum.) Perhaps that is why many investors found it odd when Coinbase announced in
- barrons.com•6 hours ago
Broadcom: FTC Inquiry ‘Immaterial to Our Business’
Shares of wireless chip giant Broadcom (AVGO) took a sudden, sharp drop this afternoon, but have regained ground, following a report this afternoon by The Wall Street Journal’s Dana Cimilluca, Brent Kendall, and David Benoit that the U.S.’s Federal Trade Commission has for several months been looking into whether the company engaged in anti-competitive practices with its contracts for chip sales. In an email, Broadcom tells me that “This FTC review is immaterial to our business, does not relate to wireless and has no impact on our proposal to acquire Qualcomm.” The report comes as Broadcom is engaged in a hostile bid to acquire competitor Qualcomm (QCOM), with both companies trading barbs yesterday.
Yahoo Finance•10 hours agoApple supplier denies claims, Walmart shakes things up, Google changes YouTube policy
Apple (AAPL) is in the spotlight. Its Chinese supplier Catcher Technologies is denying allegations by a New York rights group that it makes employees work 10 hours a day in polluted conditions without proper overtime pay or safety measures in place. Apple and Catcher both claim they investigated the issues and found no evidence of any violations.
- Bloomberg•4 hours ago
Crypto Lending Site's Shutdown Renews Ponzi Scheme Claims
BitConnect isn’t letting this week’s closure of its cryptocurrency exchange and lending operations deter it from attempting to raise funds though another digital token offering. That isn’t sitting well with existing coin owners, who have seen the value of the tokens tumble by as much as 95 percent since Monday. Critics on Twitter and Reddit have renewed allegations of fraud and are equating the company to a Ponzi scheme, where an operator pays off old investors by raising money from new ones. In a posting on BitConnect’s website Wednesday, the company predicted its tokens will rebound and promised its exchange will “work as usual” Thursday. The venture previously attributed the shutdown to “continuous
The Street•6 hours agoRight-Wing New California Declares Independence From Lefty State
If a rogue group declares independence from the country's most populous state and no one cares, does it deserve news coverage? New California, a group with conservative leanings, has declared independence from the state of California, calling the left-leaning state 'ungovernable.' "Well, it's been ungovernable for a long time. High taxes, education, you name it, and we're rated around 48th or 50th from a business climate and standpoint in California," said founder Robert Paul Preston, according to CBS News. The group cites Article 4, Section 3 of the U.S. Constitution as a legal precedent for its attempt to leave the state. The group wants to divide rural California counties in the north and
Reuters•4 hours agoDow ends above 26,000 on earnings optimism
U.S. stocks jumped on Wednesday and the Dow closed above 26,000 for the first time as investors' expectations for higher earnings lifted stocks across sectors. The Dow also hit an all-time high in intraday trading. The S&P 500 posted a record closing high.
- Zacks•11 hours ago
H&R Block (HRB) Partners Walmart for Bigger Consumer Base
H&R Block, Inc. HRB recently entered into a partnership with Wal-Mart Stores, Inc. WMT, through which the former will sell exclusive do-it-yourself desktop tax software at all Walmart stores. Becoming the sole tax software provider to the world's largest retailer is likely to give H&R Block a competitive advantage over its peers. H&R Block provides users with personalized tax filing facilities aided by free tax advise given by highly trained professionals.
- CNBC.com•8 hours ago
It looks like Apple is bringing back home nearly all of its $250 billion in foreign cash
Apple to create 20,000 jobs over the next 5 years 2 Hours Ago | 01:21 Apple just announced on Wednesday it will bring back hundreds of billions of dollars from overseas to fund investment in the U.S. and likely increase its capital returns. "Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made," the company said in the release. Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are planning a $245 billion repatriation. The tax overhaul, which President Donald Trump
Yahoo Finance•yesterdayGoldman Sachs, Bank of America, and the Fed — What you need to know in markets on Wednesday
The Dow, which was up 283 points at its high to break above 26,000 for the first time, finished the day down fractionally, losing 10 points, or 0.04%. The benchmark S&P 500 lost 9 points or 0.3%, while the tech-heavy Nasdaq led losses with a 37 point decline, good for a percentage loss of 0.5%. On Wednesday, the economics calendar will bring investors the December reading on industrial production from the Fed and the January reading on homebuilder sentiment from the National Association of Homebuilders in the morning.
Associated Press•1 hour agoApple banks on tax break to build 2nd campus, hire 20,000
Apple is planning to build a new corporate campus and hire 20,000 U.S. workers in an expansion driven in part by a tax cut that will enable the iPhone maker to bring an estimated $245 billion back to its home country. The pledge announced Wednesday comes less than a month after Congress approved a sweeping overhaul of the U.S. tax code championed by President Donald Trump that will increase corporate profits. Apple plans to take advantage of that provision to bring back most of its roughly $252 billion in offshore cash, generating a tax bill of about $38 billion.
