- MarketWatch•3 hours ago
Steve Wozniak had $70,000 in bitcoin stolen after falling for a simple, yet perfect, scam
Steve Wozniak, the co-founder of Apple AAPL, +0.96% who is widely considered to be a tech genius, made a rudimentary and expensive mistake recently. “I had seven bitcoins stolen from me through fraud,” Wozniak said at the Times’ Global Business Summit on Monday. “Somebody bought them from me online through a credit card and they cancelled the credit card payment. It was that easy. And it was from a stolen credit card number so you can never get it back.” With bitcoin BTC, -0.63% currently valued at $10,000, the move lost him the equivalent of $70,000 (or $140,000 at bitcoin’s peak value of $20,000). His mistake is far too easy to do, said Joe Blackburn, a cryptocurrency entrepreneur and head
- CNBC.com•9 hours ago
Lowe's to become the exclusive retailer for Sherwin-Williams' paint products
Patrick T. Fallon | Bloomberg | Getty Images Lowe's and Valspar owner Sherwin-Williams are deepening a decades-old relationship, making the home improvement retailer the sole distributor in the home category of popular paint brands including Minwax, Cabot, and Thompson's WaterSeal. Sherwin-Williams will continue to operate its own retail storefronts, as it skips over other major retailers for outside distribution in this deal. The news comes as Lowe's fights to keep pace with rival Home Depot, which recently revealed its plans to partner with Tesla to sell solar panels in its stores. The two companies compete within the industry to win the best brands that, in turn, will attract more shoppers.
Yahoo Finance•3 hours agoBlackstone CEO has sobering advice for young people looking to start a Wall St. business
Billionaire private equity CEO Steve Schwarzman co-founded Blackstone when he was 37 years old. Today, Blackstone is the largest private equity firm in the world, with around $434 billion in assets. During a recent conversation with Yahoo Finance, Schwarzman, now 71, reflected on his career, lessons in dealmaking, and even offered some sage advice for young twenty-somethings looking to launch a Wall Street business.
- Bloomberg Video•22 hours ago
First Cannabis Company Trades on Nasdaq
Feb.27 -- Michael Gorenstein, Cronos Group CEO, discusses how his company became the first Cannabis company to be traded on the Nasdaq. He speaks with Julia Chatterley, Scarlet Fu and Joe Weisenthal on Bloomberg's "What'd You Miss?"
- MarketWatch•6 hours ago
Frontier Communications' stock tumbles to lead premarket decliners after dividend suspended
Shares of Frontier Communications Corp. FTR, +0.00% tumbled 23% in active premarket trade Wednesday, enough to pace the decliners ahead of the open, after the communications services company suspended its dividend to make resources available to pay down debt. The previous annual dividend rate was $2.40 a share, which based on Tuesday's stock closing price of $9.24 implied a dividend yield of 25.97%, compared with the S&P 500's SPX, -1.27% implied dividend yield of 1.88%, according to FactSet. Separately, FTR also reported late Tuesday a narrower-than-expected fourth-quarter loss and revenue that topped expectation, according to FactSet. Wells Fargo analyst Jennifer Fritzsche the dividend cut
Business Insider•yesterdayWarren Buffett offers his 'strongest argument' against a practice investors are doing in record numbers
Berkshire Hathaway CEO Warren Buffett has argued against borrowing money to invest in stocks. Margin calls, in which brokers demand a cash replenishment of their clients' accounts, were among the reasons strategists cited for the pace of the recent stock sell-off. Warren Buffett doesn't recommend going into debt to buy stocks.
Yahoo Finance•yesterdayThis company offers the best pay and benefits package
Most companies offer employees a compensation and benefits package, but how do you know if it’s competitive? Using a database with more than 18 million employer reviews, Indeed.com, a job search site, has pinpointed the top 15 companies offering the best pay and benefits. Topping the list is Costco Wholesale (COST), which is the largest retailer of organic foods, wine, and rotisserie chicken.
The Street•yesterdayBuy Chipotle Stock Before It Surges 24% to $400: Top Analyst
Shares of Chipotle Mexican Grill, Inc. (CMG) have been volatile enough to make investors sick. The stock originally made multi-year lows in November, but had been working steadily higher since then. However, the company's ill-received earnings report on Feb. 6, coupled with a market-wide pullback, drained Chipotle stock down to new lows around $250. For reference, this stock was knocking on $500 in May. However, earlier this month the company named Brian Niccol as its new CEO. The move received plenty of praise from Wall Street, as Niccol was serving as the CEO of Taco Bell (part of Yum! Brands, Inc. (YUM) ) at the time. Shares are up 24% since, most recently closing near $311. However, another
- The Street•6 hours ago
Amazon's $1 Billion Acquisition of Ring Should Terrify These 2 Retailers
Action Alerts Plus holding Amazon (AMZN) will now own digital doorbell maker Ring. And to be blunt, Home Depot (HD) and Best Buy (BBY) should be terrified. Meanwhile, new Fed chair Jerome Powell has been no friend of the stock market. Papa John's (PZZA) should sell itself after its NFL marketing debacle. Receive the free Jolt newsletter here.
- Investopedia•7 hours ago
Bill Gates Calls Cryptocurrencies 'Super Risky for Those Who Go Long'
Add Bill Gates to the list of skeptics when it comes to cryptocurrencies. During his sixth Reddit “Ask Me Anything” session, the co-founder of Microsoft Corp. (MSFT) and one of the richest men in the world, was asked about his opinion on cryptocurrencies. His response: "The speculative wave around ICOs and cryptocurrencies is super risky for those who go long." Gates isn’t the first high profile person to express doubts about cryptocurrencies, which began garnering a huge amount of interest last year. In 2017, bitcoin started out trading around $1,000 and by December had surpassed $20,000. One of the allures of cryptocurrencies is that they are anonymous and unregulated. But that anonymity has
Reuters•2 days agoThe Weinstein Company says it will file for bankruptcy
Filing for bankruptcy protection creates more uncertainty about how women who allege they are victims of Weinstein could be compensated. The scuppered deal had a provision for a victims' fund, but in bankruptcy the women may now be treated as unsecured creditors that can recoup only pennies on the dollar for their claims. The Weinstein Company had been close to inking an agreement this month to be taken over by investors led by former Obama administration official Maria Contreras-Sweet for more than $500 million, but a lawsuit filed by New York's Attorney General Eric Schneiderman on Feb. 11 complicated the negotiations.
- CNBC.com•yesterday
Here's how much you need to earn to be a 1 percenter
How do you stack up against the wealthiest Americans? To be a 1 percenter, you need to have an adjusted gross income of at least $480,930, according to the latest data from the Internal Revenue Service, which looked at income statistics for tax year 2015. The top 1 percent accounted for 1.4 million individual income tax returns — out of 141.2 million total — that year. If that income cutoff isn't dispiriting enough, to be part of the top 0.1 percent, which represented 141,205 returns in 2015, your adjusted gross income needed to be at least $2.2 million. Entry to the top 0.01 percent, representing 14,120 returns, required adjusted gross income of $11.9 million or more. The top 0.001 percent had
- Bloomberg•3 hours ago
N.J.'s Horizon Blue Cross Sees $550 Million Benefit From Tax Law
Horizon Blue Cross Blue Shield of New Jersey, the state’s largest health insurer, said the new federal tax law will result in the company receiving $550 million of refunds over the next five years. The measure, enacted by President Donald Trump in 2017, eliminated the alternative minimum tax for businesses. As a result, Horizon can receive a refund for unused tax credits, the not-for-profit insurer said in a statement. Horizon plans to use the refunds to provide $150 million to customers this year “in the most direct way possible,” Kevin Conlin, president and chief executive officer of Horizon, said Wednesday in a statement. The insurer said it’s working with the state Banking and Insurance department
- CNBC.com•2 days ago
Gun maker stocks are trading like something is different after Florida massacre
Gun makers are again the center of a national debate over how to put an end to mass shootings, and their stocks are trading like things are different this time. Several major U.S. companies have dropped their associations with the National Rifle Association in the last few days, less than two weeks after a 19 year old with a semi-automatic rifle killed 17 people in a high school in Florida. Student protests and calls for action have stayed in the headlines, and politicians are under pressure to enact new gun safety rules. As with deadly shootings in the past, some of the focus has been on the companies that make the weapons and ammunition and the people and companies that own them. Shareholder
Business Insider•2 days agoMarc Benioff's right-hand man could make another $200,000 after Salesforce finally lets its top execs get raises again (CRM)
A year after Salesforce cut CEO Marc Benioff's total pay and froze other top executives' pay to appease shareholder complaints, the company has decided to loosen its purse strings. While Benioff isn't getting a salary bump, several of his top officers are getting raises which impact their salaries and their bonuses. A year ago, Salesforce made headlines when it gave its flamboyant founder, CEO Marc Benioff, a 60% pay cut and froze his salary and cash bonus in response to investor concerns that its executive pay and perks were excessive.
- CNBC Videos•2 days ago
Cramer's favorite market indicator is signaling a potenti...
Jim Cramer returns to "Mad Money" with a fresh take on the stock market supported by one of his trustiest indicators.
Reuters•21 hours agoBaidu's video unit iQiyi files for U.S. IPO of up to $1.50 billion
Upon the completion of the offering, Baidu will continue to be its controlling shareholder, iQiyi said in its IPO filing. IQiyi said it plans to use half of the net proceeds from the offering to expand and enhance it content offerings. Goldman Sachs (Asia) LLC, Credit Suisse and BofA Merrill Lynch are among the lead underwriters to the IPO.
Business Insider•6 hours agoPapa John's drops after killing its sponsorship deal with the NFL (PZZA)
Papa John's stock took a dive after the company announced it ended its sponsorship deal with the National Football League. The company's executives said "negative consumer sentiment" around the NFL's handling of the protests last Fall contributed to its poor sales. The pizza chain has faced some backlash after its founder and former CEO John Schnatter criticized the NFL over its "poor leadership" in handling its players' protests last fall.
- FX Empire•yesterday
Forex Trading Signals – February 27, 2018
These are the Daily Trading Signals for Tuesday. Here’s how the technicals compare with the interbank at 8 AM GMT. Euro/Dollar’s 1 and 4 hour models are mostly bullish, but outlook shifts to neutral in the long term chart. The 15% long interbank sentiment
CNBC.com•2 days agoCramer's lightning round: My biggest worry about Allergan
Allergan PLC: "I'm neither here nor there on it. My charitable trust has a small position in it. Frankly, what we're all worried about is a down year 2018, and there's no way a drug stock can have a down year 2018 unless they split the company up." STMicroelectronics NV: "Good tech. Good semi. Like the group." Petmed Express Inc: "Not bad. I do prefer Idexx Labs. It's got much more consistency." Lumentum Holdings Inc: "Optics are too hard for me. I'm going to have to say take a pass. We've got a lot of other good semis going, lot of other good tech. Let's just say do Cisco."
- MarketWatch•9 hours ago
The most important investing rule there is, and why you should ignore it
The management team? Growth prospects? Profitability? “No, no, and no,” answers Nick Maggiulli of the Of Dollars and Data blog. Rather, when it comes to investing, he says the most important piece of information is the price you pay. “That’s right,” Maggiulli explains in a blog post. “Even with bad management, terrible growth, and bad profitability, there exists some price, possibly a negative price, at which every asset would be a good investment. All the other aspects of an investment will fail you if you pay the wrong price.” But don’t just take his word for it. Berkshire Hathaway’s BRK.A, -0.56% Warren Buffett once summed it up like this: “Price is my due diligence.” The simple, and rather
- Zacks•7 hours ago
The Zacks Analyst Blog Highlights: Microsoft, Cisco Systems, Facebook, Adobe Systems and DXC Technology
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 Microsoft MSFT, Cisco Systems CSCO, Facebook FB, Adobe Systems Inc. ADBE and DXC Technology DXC. Today, Zacks is promoting its ''Buy'' stock recommendations.
Business Insider•9 hours agoA venture fund focused on middle-class problems is tackling a huge obstacle for millennial renters
Kairos, a venture-capital fund focused on fixing problems plaguing the middle class, is launching a new company called Rhino. Through Rhino, renters can pay a small monthly fee in lieu of a one-time security deposit. At launch, Rhino will be available for 22,000 apartments in New York City.
- Reuters•yesterday
Broadcom bid for Qualcomm: The saga so far
(Reuters) - Chipmakers Broadcom Ltd and Qualcomm Inc continued their war of words on Monday, as Singapore-based Broadcom called its U.S. semiconductor peer's proposal to negotiate a higher offer price "engagement theater". The back-and-forth
Associated Press•16 hours agoTrump campaign chief lends name to penny stock tied to felon
The political strategist and online guru who was named President Donald Trump's 2020 campaign manager Tuesday has a close financial relationship with a penny-stock firm with a questionable history that includes longstanding ties to a convicted fraudster, according to an Associated Press investigation. Brad Parscale, who played a key role in Trump's 2016 election victory, signed a $10 million deal in August to sell his digital marketing company to CloudCommerce Inc. As part of the deal, Parscale currently serves as a member of California-based company's management team. The company touts itself as "a global provider of cloud-driven e-commerce and mobile commerce solutions." But records reviewed by the AP raise questions about its current financial picture and its rocky past.
