- CNBC.com•8 hours ago
Cryptocurrencies join the global financial market sell-off as bitcoin drops 7%
Digital currency bitcoin fell Tuesday as the 20 largest digital currencies by market capitalization all declined, according to CoinMarketCap. Bitcoin traded more than 6.5 percent lower near $10,410 as of 11:37 a.m., ET, according to CoinDesk's bitcoin price index, which tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex. Ethereum, the second-largest digital currency by market cap, traded about 4.5 percent lower near $1,130, according to CoinMarketCap. The third-largest cryptocurrency, ripple, fell about 7.5 percent to near $1.22, the website showed. Total market cap of cryptocurrencies, excluding bitcoin, over the last seven days Source: CoinMarketCap Stellar,
- CNBC.com•8 hours ago
Chesapeake Energy reportedly lays off 13% of workforce, about 400 employees
Local news outlets in Oklahoma are reporting that Chesapeake Energy has announced it will lay off hundreds of employees as the debt-burdened natural gas driller continues to overhaul its business. In a letter to employees, Chesapeake said it will let go about 13 percent of its workforce. The Oklahoma City-based company employed 3,247 people as of September, which suggests it will trim back about 400 positions. The layoffs will occur primarily at Chesapeake's Oklahoma City campus. Chesapeake did not immediately respond to requests for confirmation by phone and email. Chesapeake CEO Doug Lawler said the job cuts were the result of asset sales that the company has made in recent years. He explained
The Street•4 hours ago5 worst-case scenarios that could cause the price of Bitcoin to crash
In Greek mythology, Sisyphus continually pushed a massive rock up a hill only to have it roll back on him down the slope. Could the same thing happen to Bitcoin? In 2017, Bitcoin gained nearly 14,000% making the digital currency the story of the year. But its ascent to the top of the cryptocurrency market is not without risks. Bitcoin's market dominance has fallen from a lofty 85% in January 2017 to 38% at the end of 2017, reflecting investors' uneasiness about placing all their eggs into one basket. There's also growing sentiment to hold other crypto investments such as Ethereum (12% of total cryptocurrency market capitalization), Bitcoin Cash (10%) and Ripple (8%). While Bitcoin may not necessarily
- CNBC Videos•7 hours ago
Harley-Davidson forecasts drop in shipments this year, se...
Harley-Davidson fell short of its targets for motorcycle shipments in 2017 and forecast a drop in numbers for this year.
- barrons.com•7 hours ago
Qualcomm: Higher Broadcom Bid Looks More Likely, Says RBC
Shares of wireless technology giant Qualcomm (QCOM) are down 13 cents at $67.19, after RBC Capital Markets’s Amit Daryanani this morning reiterated an Outperform rating on the shares, and raised his price target to $80 from $77, writing that he sees "increasing probability that AVGO will submit a higher offer” in its hosti;le bid for the company, which, you’ll recall, was a mix of cash and stock for $70 per Qualcomm share. Daryanani’s note comes ahead of Qualcomm’s fiscal Q1 report this Thursday, after market close. Writes Daryanani, "At face value, the AVGO bid at $70 ($60/ $10 cash/ stock) provides ~3% implied upside." "We further think there is increasing probability that AVGO will submit
- Zacks•10 hours ago
Chevron (CVX) Gears Up for Q4 Earnings: What's in the Offing?
Chevron Corporation CVX is set to release fourth-quarter 2017 results before the opening bell on Feb 2. Chevron has a good history when it comes to beating earnings estimates. The supermajor surpassed earnings estimates in three of the last four quarters, with an average beat of 1.77%.
Business Insider•11 hours agoHealthcare stocks are getting smoked after Amazon finally said something about the industry
Amazon, Berkshire Hathaway, and JPMorgan are teaming up to try to make healthcare more affordable for their US-based employees. Insurance stocks like UnitedHealthcare, Cigna, Anthem and others are deeply in the red early Tuesday after the news hit. The negative impact the announced collaboration is having on healthcare stocks is just the latest example of the outsized influence both Amazon and Berkshire can have on industries they explore.
Reuters•2 hours agoWall Street stumbles as bond yields rise, health stocks fall
The Dow also had its biggest daily percentage decline since May 2017 and the day's 1.37-percent fall was the second-biggest single-day drop since the election of Donald Trump, slated to give his first State of the Union speech later Tuesday.
- TheStreet.com•8 hours ago
Cramer: How to Play The Volatility in United Healthcare and Others
We've just had a nice bounce and my preference would be to do some trimming not some buying, unless you are willing to accept that your first buy may not be your last buy. Why do I say this? Okay take the stock of United Health one of my absolute
- Bloomberg•14 hours ago
Forget Self-Driving Cars, Robot Delivery Vans Are Here
The future of driverless driving looks like a giant toaster with a funny hat. That’s an approximation of a new autonomous vehicle unveiled Tuesday by Nuro, a Silicon Valley startup that’s been cryptic about its business plan since it launched about 18 months ago. Nuro’s shiny, minimalist appliance on wheels doesn’t have doors or windows to speak of, because it will be carrying packages—not people. As every major automaker and dozens of tech companies race to replace drivers in Uber cars and taxi fleets, Nuro is ignoring humans altogether and steering for Amazon.com Inc., United Parcel Service Inc. and any retailer looking to build its e-commerce business. “We realized we could make it possible
Business Insider•yesterdayMonday is the first day you can submit your tax return to the IRS — here's what to expect this year
You may be able to file for free, and filing sooner is the best way to prevent tax fraud. The changes — including new tax brackets and modified tax deductions — went into effect on January 1. Your tax return will reflect your 2017 taxes, meaning the new law won't apply.
- Zacks•10 hours ago
Can Merck (MRK) Deliver a Positive Surprise in Q4 Earnings?
Last quarter, the company delivered a positive earnings surprise of 7.77%. Merck’s performance has been pretty impressive, with the company exceeding earnings expectations in all the trailing four quarters.
- CNBC Videos•4 hours ago
Technician: Buy these market laggards during the selloff
Carter Worth, Cornerstone Macro, discusses what stocks to buy during the market selloff.
Reuters•yesterdayEU review of Bayer's Monsanto bid postponed further
FRANKFURT/BRUSSELS (Reuters) - Bayer's quest to win regulatory approval for its planned takeover of Monsanto ran into further delays on Monday as European Union antitrust investigators extended their investigation by five working days until March 12. The EU did not state a reason for the extension to March 12 to deliver its verdict on the merger, which effectively gives Bayer a new deadline at midnight Feb. 5 to propose concessions such as asset sales. A Bayer spokesman declined to comment, beyond confirming the EU's statement.
- Yahoo Finance•8 hours ago
Aetna CEO responds to Amazon-Berkshire-JPMorgan health care venture
Mark Bertolini, CEO of Aetna (AET), the third-largest U.S. insurer, responded to the news of Amazon (AMZN), JPMorgan Chase (JPM) are teaming up on a new health care venture. “There is an unmet consumer need in health care. Individuals and families want a simple, affordable and high-quality experience that helps them stay well,” Bertolini said in an emailed statement to Yahoo Finance.
Business Insider•yesterdayAlmost every major cryptocurrency is falling
Bitcoin was down 4.6%, Ethereum was down 4.6%, and Ripple’s XRP was down 6.3%. The six largest cryptocurrencies, including the flagship bitcoin, have all sunk in the last 24 hours, according to data from Markets Insider, following a major cyberattack against a Japanese cryptocurrency exchange last week which resulted in the loss of $400 million. Bitcoin, which still makes up 33% of the entire digital currency market cap, was down 4.6% to $11,297 at the time of writing.
- Morningstar•2 days ago
How Retirees Are Taxed
The controversy put a focus on differences in tax policy among high- and low-tax states. But the states also differ sharply when it comes to taxing retirees. A few exempt all retirement income from taxes, and many exempt all Social Security income. Many states give seniors a break of some kind on property taxes; policy on taxation of income from pensions, 401(k), and IRA accounts varies widely. The policy of exempting retirement income dates to a time when elderly poverty rates were much higher than they are today. As recently as 1970, almost 25% of Americans older than 65 lived in poverty, according to the Census Bureau; now it’s around 9%. The federal government didn't tax Social Security until
- Fox Business•11 hours ago
Health insurers fall after JPMorgan, Amazon, Berkshire team up
Shares of major U.S. health insurers were taking a hit Tuesday, reacting to the announcement from JPMorgan Chase (NYSE:JPM), Amazon (NASDAQ:AMZN) and Berkshire Hathaway (NYSE:BRK.A) that they are forming a partnership to address health care for their
- Bloomberg•2 days ago
United Goes Rogue With Plan That May Spur Lower Airfares
Scott Kirby has a very specific view about how the three U.S. hub-and-spoke airlines work best, having managed two of them. In his current job as president of United Continental Holdings Inc., Kirby’s role is to oversee a major overhaul of how the carrier operates, beginning with a broad restructuring of its three domestic-focused hubs in Chicago, Denver and Houston. By United’s math, this trio has profit margins that are 10 percent below the inland domestic hubs operated by American Airlines Group Inc. and Delta Air Lines Inc. That gap is one big reason for United’s third-place finish among the three in recent years.
Business Insider•12 hours agoAmazon, Berkshire Hathaway, and JPMorgan are creating a new healthcare company to tackle the 'hungry tapeworm' of rising costs (JPM, AMZN, BRK.B)
Amazon, Berkshire Hathaway, and JPMorgan are teaming up to try to make healthcare more affordable for their US-based employees. Amazon, Berkshire Hathaway, and JPMorgan Chase are creating a new business designed to lower healthcare costs for US-based employees in a move that could shake up the managed-care industry.
- Bloomberg•yesterday
Bitcoin Investment Trust Jumps After Stock Split Takes Effect
Sometimes all it takes is the illusion that you’re getting more for less to drive the price of a stock higher. That was the case today with the shares of the Bitcoin Investment Trust: its shares surged more than 8 percent after the fund’s 91-for-1 stock split took effect. More than 700,000 shares had been traded to boost the price to as high as $19.60 in New York. Volume had slowed to less than 50,000 trades a day last week ahead of the split. The week prior, an average of 113,000 shares were traded daily. Bitcoin rose 3.2 percent as of 9:57 a.m. in New York.
- Investopedia•10 hours ago
Buffett, Bezos, Dimon to Found Healthcare Company
The CEOs of Amazon.com Inc. (AMZN), Berkshire Hathaway Inc. (BRK-A, BRK-B) and JPMorgan Chase & Co. (JPM) announced via a joint press release the morning of Jan. 30 that the companies "are partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs." The partnership is to take the form of "an independent company that is free from profit-making incentives and constraints." Aside from an initial focus on "technology solutions," details are lacking, and the press release describes the project as "in its early planning stages." The companies are giants in the e-commerce, insurance and banking industries, with a combined market
- Fox Business•7 hours ago
Chesapeake Energy announces hundreds of layoffs
Chesapeake Energy Corp. (NYSE:CHK) has announced the layoffs of about 400 employees, the vast majority at its headquarters in Oklahoma City. The layoffs were announced Tuesday in an email to employees from Chesapeake CEO Doug Lawler. The layoffs include about 330 employees in Oklahoma City.
- CNBC•yesterday
Dow drops 177 points on rising rate fears in biggest decline of the year so far
U.S. stocks posted the biggest drop of this young year after the 10-year treasury yield shot higher, raising concerns higher interest rates would snuff out the bull market. The Dow Jones industrial average (Dow Jones Global Indexes: .DJI) fell 177.23 points to close at 26,439.48, also posting its biggest decline of 2018.
- MarketWatch•6 hours ago
Chesapeake Energy cuts 13% of workforce, mostly at Oklahoma City headquarters
Shares of Chesapeake Energy Corp. sank Tuesday, after the natural gas and oil exploration company laid off 13% of its workforce, primarily at its Oklahoma City campus. Dedicated, value-driven, hardworking people have been affected,” Chief Executive Doug Lawler wrote in a letter to employees.
