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- Russell 20001,529.99-0.88%
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- Bloomberg•16 hours ago
Buffett’s Berkshire Hathaway Is Cutting More Jobs Across Newspaper Group
Warren Buffett’s Berkshire Hathaway Inc. is slimming down its newspaper empire with more job cuts. BH Media Group is reducing staff by 148 employees and not filling 101 vacant positions, representing a total of about 6 percent of its workforce, the company said Tuesday in a statement. The organization is seeking to trim expenses because of declining advertising revenue.
- Zacks•14 hours ago
Tim Cook Won't Admit It, But Apple Is Losing Relevancy in China
With the iPhone X described as the biggest step forward for smartphones since the original iPhone, the release of the special-edition device was supposed to be a watershed moment for Apple AAPL. During the company’s fiscal first quarter, Apple sold about 77.32 million total iPhones, down about 1% year-over-year and well below our consensus estimates (also read: Apple's First-Quarter iPhone Sales Drop 1%, Miss Estimates). Apple’s decision to dual announce the iPhone 8 and iPhone X was considered a gamble at the time, and given its sales figures in the ever-important holiday quarter—along with the myriad of reported production issues related to the X—that gamble does not seem to have paid off.
- Yahoo Finance•17 hours ago
Is it time to seriously consider getting the Amazon Prime Rewards Visa Card?
It’s time to seriously consider getting the Amazon Prime Rewards Visa Card? Customers are used to paying a little more when they visit Whole Foods, but now some shoppers will actually get cash back. On Tuesday, Amazon announced that eligible Prime members using the Amazon Prime Rewards Visa Card from Chase will earn 5% back on purchases at Whole Foods.
Bloomberg•yesterdayMorgan Stanley Says Stock Slide Was Just Appetizer for Real Deal
The U.S. stock market only had a taste of the potential damage from higher bond yields earlier this year, with the biggest test yet to come, according to Morgan Stanley. “Appetizer, not the main course,” is how the bank’s strategists led by London-basedAndrew Sheets described the correction of late January to early February. Although higher bond yields proved tough for equity investors to digest, the key metric of inflation-adjusted yields didn’t break out of their range for the past five years, they said in a note Monday.
- Bloomberg•19 hours ago
Airbus No. 2 Bregier Bails Out After Handing Over Latest Model
For Airbus SE’s second-in-command Fabrice Bregier, the delivery of the first A350-1000 model came with a bitter-sweet tinge: his last day at the European manufacturing giant after being overlooked for the top job. Bregier, 56, at least had the satisfaction of seeing the A350 through to the end of its launch phase, with the stretched -1000 model representing the culmination of a program whose production problems took some of the gloss off its sales success during his final years at the company. “I could have stayed a bit longer, but I think I am one of the top managers who has spent the longest time running Airbus,” Bregier, Airbus’s chief operating officer and the head of its main jetliner arm, said at a ceremony in Toulouse, France, after handing the plane to Qatar Airways. Frenchman Bregier insisted that he had “only good memories” of 15 years at Airbus, before which he led the company’s MBDA missiles joint venture.
Yahoo Finance•20 hours agoQualcomm ups offer, Amazon Prime members get another benefit, GM is making deals in South Korea, Edible Arrangements sues Google
Qualcomm (QCOM) tops our list. The chip maker is raising its bid for NXP Semiconductors (NXPI) to $44B. The Wall Street Journal reports that Qualcomm hopes the $5B increase will boost NXP shareholder support for the deal.
Reuters•17 hours agoAlbertsons to buy Rite Aid as Amazon threat looms
At the same time, Amazon's foray is widely expected to disrupt the industry, prompting drug chains to beef up their businesses. Backed by private equity firm Cerberus Capital Management, Albertsons hopes the deal will help it become a formidable competitor to CVS Corp and Walgreens , and give its private equity owners a way to exit their decade-long investment in the grocer. Cerberus first took a stake in Albertsons in 2006 and scaled it through acquisitions including that of Safeway in 2014.
- Zacks•22 hours ago
AK Steel (AKS) Soars: Stock Adds 13.7% in Session
AK Steel Holding Corporation AKS was a big mover last session, as the company saw its shares rise nearly 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for
Yahoo Finance•20 hours agoRite Aid soars, NXP Semiconductors makes deal with Qualcomm, and Walmart misses on earnings
Here are the charts of the day for Tuesday February 20, 2018. Rite Aid (RAD): Shares soaring in early trade. Privately-held Albertsons plans to buy the rest of Rite Aid that isn’t being sold to Walgreens Boots Alliance. The combined companies would be
- Fox Business Videos•22 hours ago
Baby boomers more afraid about running out of money than death?
'Retire Inspired' author Chris Hogan on planning for retirement.
Associated Press•14 hours agoTrump plan: Less health insurance for lower premiums
The Trump administration Tuesday spelled out a plan to lower the cost of health insurance: give consumers the option of buying less coverage in exchange for reduced premiums. The proposed regulations would expand an alternative to the comprehensive medical plans required under former President Barack Obama's health law. The plans would come with a disclaimer that they don't meet the Affordable Care Act's safeguards, such as guaranteed coverage, ten broad classes of benefits, and limits on how much older adults have to pay.
- Zacks•16 hours ago
Invest Like Warren Buffett With These ETFs
Following investing strategies of billionaire investor Warren Buffett is everyone’s dream. Buffett’s Berkshire Hathaway Inc. BRK.B has added more than 100% over the last five years (as of February 15, 2018), way better than the 73% gain of the broader
Yahoo Finance•2 days agoMunger: You won't get the returns Buffett and I got by doing what we did
Buffett and Munger have been critics of fees charged to investors by fund managers. Warren Buffett’s right-hand man, Charlie Munger, the vice chairman of Berkshire Hathaway (BRK-A, BRK-B), said they had an “easier world” than the young investors of today face. “I don’t think you’re going to get the kind of results we got by just doing what we did,” Munger, 94, said at the Daily Journal’s (DJCO) annual meeting in Los Angeles last week.
- CNBC Videos•23 hours ago
Airbus delivers first A350-1000 jet to Qatar Airways
Qatar Airways CEO Akbar Al-Baker speaks about its launch of the aircraft, as well as his company's upcoming earnings report.
Reuters•14 hours agoJudge denies AT&T access to White House correspondence on Time Warner deal
A judge on Tuesday denied AT&T Inc's request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc . The decision is a potential setback to AT&T's plan to argue in an upcoming trial that the department's decision to oppose the acquisition was politically motivated, perhaps spurred on by Trump's public criticism of the deal and his frequent attacks on Time Warner's CNN.
Reuters•2 days agoIndia bank hack 'similar' to $81 million Bangladesh central bank heist
Hackers who tried to steal nearly $2 million from India's City Union Bank this month used tactics similar to those employed in the unsolved cyber heist of $81 million from Bangladesh's central bank in 2016, City's CEO said on Monday. The unknown hackers disabled the City printer connected to global payments platform SWIFT on Feb. 6, preventing the bank from receiving acknowledgement messages for three fraudulent payment instruction sent that evening until the next morning. The next morning, bank officials managed to reconcile the previous day's transactions and found out "three transactions which were not originated from our bank".
- CNBC.com•23 hours ago
Chips rip higher, and market watchers eye Intel as the semi to own
Trading Nation: These investors are buying into the chip rip 3:10 PM ET Fri, 16 Feb 2018 | 02:43 Chip stocks are ripping higher, and one market watcher says the semiconductor space could be in for an even bigger rally. The SMH semiconductor ETF last week posted its best week in more than two years. The rally, led by Applied Materials, Lam Research and Micron, comes as the group has fallen roughly 5 percent from highs late last month. Despite that sell-off, SMH is still up about 34 percent in the last year. Applied Materials and Lam Research are the "two 800 pound gorillas in the space. They both reported and are positive on industry spending in 2018," Mike Binger, portfolio manager at Gradient
- Zacks•23 hours ago
The Zacks Analyst Blog Highlights: Walmart, Home Depot and Hewlett Packard
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Walmart Inc. WMT, The Home Depot, Inc. HD and Hewlett Packard Enterprise Company HPE.
- Bloomberg•6 hours ago
Apple in Talks to Buy Cobalt Directly From Miners
The iPhone maker is one of the world’s largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries. The talks show that the tech giant is keen to ensure that cobalt supplies for its iPhone and iPad batteries will be sufficient, with the rapid growth in battery demand for electric vehicles threatens to create a shortage of the raw material. About a quarter of global cobalt production is used in smartphones.
- Bloomberg•17 hours ago
Kelcy Warren Says $1 Billion Energy Transfer Deal Is Fair to All
Kelcy Warren, the billionaire chairman of Energy Transfer Equity LP, dismissed complaints that he unfairly benefited from a 2016 private issuance of units in one of the pipeline company’s partnerships that was tied to the failed merger with Williams Co. Unitholders, including a Pennsylvania retirement fund, contend Warren and other Energy Transfer executives engineered the $1 billion deal involving only select investors so that Warren could reap more than $200 million. “Everybody thinks this is a bad deal,’’ Warren told a Delaware judge Tuesday. But the issuance helped stabilize the U.S.’s largest pipeline operator during a shaky time in an oil market downturn, he added. Warren’s lawyers said
- MarketWatch•21 hours ago
Merck shares dip after surprise patent loss to Gilead
Merck & Co. Inc. MRK, -1.66% shares dipped 1.6% in morning trade Tuesday after the company lost a patent case to Gilead Sciences Inc. GILD, +0.59% Gilead shares rose 0.4% in morning trade. The case, which involves alleged patent infringement by Gilead's hepatitis C therapy Sovaldi on a patent held by Merck's Idenix Pharmaceuticals unit, was decided against Merck late Friday. Previously, a jury ruled in favor of Merck and granted the company $2.5 billion. However, the judge reversed the decision late Friday in a surprise decision and "determined the Idenix patent to be invalid for lack of enablement," said RBC Capital Markets analyst Brian Abrahams. Without the damages charge and associated royalties,
- barrons.com•21 hours ago
Broadcom Slams Qualcomm for Raised NXP Bid, Shares Rise
Chip giant Broadcom (AVGO) a short while ago issued a statement slamming Qualcomm’s (QCOM) announcement this morning it would raise its bid for NXP Semiconductors (NXPI), saying Qualcomm is transferring value from its own shareholders to those of NXP. Broadcom stock has turned around from earlier losses, now up $4.19, or 1.7%, at $253.08, Qualcomm stock is down $2.60, or 4%, at $62.25, and NXP stock is up $7.35, or 6%, at $125.85. It’s been a busy morning for Broadcom and Qualcomm, who are locked in an M&A battle, with Qualcomm trying to buy NXP, and Broadcom conducting a hostile takeover effort to get Qualcomm. Qualcomm said this morning it agreed with NXP’s board to raise its bid to $127.50
- Bloomberg•yesterday
2,000 Confiscated Bitcoins Create a Storage Puzzle in Finland
Finland is trying to figure out how to handle the roughly 2,000 Bitcoins authorities in the country have confiscated. Finnish government guidelines released on Tuesday make clear that authorities handling the coins won’t be allowed to store them on virtual currency exchanges. Instead, they’ll be required to keep them off the Internet, according to documents seen by Bloomberg News.
- Fox Business•2 days ago
Biggest job search mistakes people make: Korn Ferry CEO
“There are allegedly 6 million jobs available,” Gary Burnison, CEO of Korn Ferry, told FOX Business.“This is the time to be proactive. “If that’s all you’re doing, you might as well go to 7-Eleven and a buy a lottery ticket, scratch it off and see if you win,” he said.
- Bloomberg•17 hours ago
Walmart's Catch-Up Game With Amazon Is Crushing Its Bottom Line
Walmart Inc.’s battle with Amazon.com Inc. is hitting its bottom line like never before -- and testing the patience of investors. The retail giant’s push to expand online operations and cut prices contributed to a record-low operating margin last quarter, according to data compiled by Bloomberg. The profit measure narrowed to 3.3 percent, sparking concerns that Walmart’s long-enviable financial cushion is under pressure. Transportation and theft also contributed to its shrinking margin, but it’s the e-commerce investments that loom largest for shareholders -- especially as those efforts show signs of diminished returns. Walmart’s online sales grew at less than half the pace last quarter as in
