- Bloomberg•51 minutes ago
Bank of America Sued for Allowing $102 Million Ponzi Scheme
Bank of America Corp. was accused in a lawsuit of providing more than 100 accounts used to perpetrate what the U.S. regulators called a $102 million Ponzi scheme. The brother and sister who sued to recover losses from their late father’s investment claim the fraudsters “could not have perpetuated their scheme without the knowing assistance of their primary banking institution, Bank of America, which lent the scheme an air of legitimacy and provided critical support, including at times when the scheme would have otherwise collapsed," according to the complaint. Bank of America spokesman Bill Halldin had no immediate comment on the suit.
- Zacks•1 hour ago
Why GE Shares Are Surging, & the Health of the U.S Housing Market | Free Lunch
Ryan reviews the plan and digs into GE’s latest earnings outlook and share price performance. Later, he is joined by Dave Bartosiak to discuss the U.S. housing market. Free Lunch is the newest show from Zacks Investment Research.
Business Insider•yesterdayTop execs in banking, retail, and tech are saying they don't practice work-life balance — because they found something better
JPMorgan Chase CMO Kristin Lemkau told Business Insider that, like Jeff Bezos, she values work-life integration over work-life balance. Other executives in a range of fields have discussed the importance of work-life integration, for themselves and for their employees. In a recent interview with Business Insider CEO Henry Blodget, Kristin Lemkau discussed how she juggles her many work and family responsibilities.
Bloomberg•4 hours agoInsulin Pump Maker’s 900% Stock Surge Has More Room to Run
Tandem Diabetes Care Inc. bulls still see upside for the insulin pump maker, even after shares increased ten-fold so far this year. Sell-side analysts rushed to boost their price targets for one of the Russell 2000 Index’s best performers in the wake of last week’s Food and Drug Administration approval of a technology for the company’s insulin pump. Piper Jaffray analyst JP McKim called the approval a "game changer" that will help attract patients and give them reason to upgrade to newer pumps.
- MarketWatch•4 hours ago
The single most important retirement strategy
New study of retirement planning reaches a surprising conclusionWorking a little longer can add a lot to your standard of living in retirement. Which of the following has the greatest impact on your retirement standard of living?
Business Insider•4 hours agoGeneral Electric surges after announcing another spinoff as it leaves the Dow (GE)
The moves come as new CEO John Flannery approaches his anniversary at the company's helm, where he has set out sweeping cost-cutting and debt-reduction goals. General Electric has found a way to tell investors some good news as it leaves one of the most famous stock indexes in the world. Shares of the once-sprawling industrial behemoth surged as much as 7% Tuesday after it said it would sell off its majority stake in oil services company Baker Hughes over the next two to three years.
- Bloomberg Video•4 hours ago
Trump Takes Aim at Harley-Davidson in Tax Threat
President Donald Trump turned his attention to Harley-Davidson's decision to move some production overseas to avoid European Union tariffs while his administration offers conflicting messages on trade plans. ON FRIDAY, WE COULD GET A NEW ANNOUNCEMENT REGARDING INTELLECTUAL PROPERTY.
Business Insider•2 days agoHousing affordability in America is its worst in nearly a decade, and there's one clear culprit
Housing affordability hit its worst level in nearly a decade during the first quarter, according to Attom Data Solutions. Attom measures affordability by comparing average wages to median home prices to determine the share of income people need to spend on housing. Prospective buyers needed to shell out more because mortgage rates rose.
- Bloomberg•yesterday
Tesla's Tent Put to the Test as Time Runs Out for Musk
Elon Musk has six days to make good on his pledge that Tesla Inc. will be pumping out 5,000 Model 3 sedans a week by the end of the month. If he succeeds, it may be thanks to the curious structure outside the company’s factory. It’s a tent the size of two football fields that Musk calls “pretty sweet” and that manufacturing experts deride as, basically, nuts.
- Yahoo Finance•yesterday
Why Trump's trade war hasn't tanked the market or the economy yet
Business sentiment has been shaken by U.S. President Donald Trump’s escalating trade war with China, the European Union and other countries, financial analysts say. Unlike in February when Trump first began saber rattling about trade tariffs and markets swooned, investors so far in June have continued to favor U.S. assets. Traders poured $3.4 billion in net funds into U.S. equities last week, according to analysis from Jefferies and Co., marking the seventh straight week of inflows.
- Barrons.com•3 hours ago
Tech Today: Dumping Intel, Holding AMD, Praising Nvidia
Here are some things going on today in the world of tech: It's a big day for chip ratings, with Intel (INTC) getting a downgrade and an initiation note, and new coverage of Nvidia (NVDA). Intel’s Structural Cracks Stacy Rasgon with Bernstein cut his rating on Intel to Underperform from Market Perform, and lowered his price target to $42 from $54, asking the question, “Does the hole at the top go all the way through?” referring to last week’s abrupt departure of Chief Executive Brian Krzanich for violating a no-fraternization policy.
- The Wall Street Journal•2 hours ago
Investor Makes Massive Bet That China Could Scuttle Qualcomm-NXP Deal
Approval by China would remove the last hurdle for a deal that has been at a standstill for months. Qualcomm has obtained eight out of the nine necessary antitrust approvals for the deal. The deal is critical for Qualcomm--a dominant player in chips for smartphones--a business that has plateaued in recent years. Chinese regulators have expressed concerns that the merged company could crowd out domestic businesses. But in May, as U.S.-China trade tensions eased, Chinese authorities indicated that they intended to wrap up their review and approve the transaction.
Reuters•25 minutes agoGE breakup leaves it with best and worst performers
General Electric Co said on Tuesday it will spin off its healthcare business and divest its stake in oil-services firm Baker Hughes, effectively breaking up the 126-year-old conglomerate which was once the most valuable U.S. corporation and a global symbol of American business power. The slimmed-down company will focus on jet engines, power plants and renewable energy, which GE hopes will reward battered shareholders who have seen the stock lose more than half its value over the past 20 years. "This is really the culmination of 10 years of observations I've had about the company," said Chief Executive John Flannery, a GE veteran who took the helm in August with a mandate to revamp the company.
- CNBC Videos•21 hours ago
How Trump's trade team stopped the market from selling of...
Peter Navarro's comments lift the markets to a less bad loss. Are trade war fears overblown? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.
- Zacks•5 hours ago
Office Depot Operating Model Helps Lift Stock 33% in 3 Months
Office Depot, Inc.’s ODP focus on business operating model, growth prospects and omni-channel capabilities have aided the stock to gain and outpace the industry in the past three months. Strategic endeavors, including strengthening of core businesses and expansion of service and subscription offerings fueled the top line that beat the consensus mark for the third time in a row and grew year over year during first-quarter 2018. The company is trying all means to give itself a complete makeover in an environment where demand for office products (paper-based) has shrunk due to technological advancements.
- InvestorPlace•3 hours ago
The Drop in Starbucks Stock Doesn’t Look Like a Buying Opportunity
Investors have been waiting for Starbucks Corporation (NASDAQ:SBUX) stock to break out of its tight trading range for about three years now. It’s finally happened, but Starbucks stock didn’t move in the direction shareholders were hoping. The company is closing 150 underperforming stores in the U.S.
Associated Press•15 hours agoUS judge throws out climate change lawsuits against big oil
A U.S. judge who held a hearing about climate change that received widespread attention ruled Monday that Congress and the president were best suited to address the contribution of fossil fuels to global warming, throwing out lawsuits that sought to hold big oil companies liable for the Earth's changing environment. "The problem deserves a solution on a more vast scale than can be supplied by a district judge or jury in a public nuisance case," he said.
Associated Press•2 hours agoAnother wave of sales leaves GE a vastly changed company
General Electric Co. is shrinking again, becoming a mere shadow of the globe-spanning conglomerate that it was before the Great Recession. GE said Tuesday that it will spin off its health-care business and sell its interest in Baker Hughes, which provides drilling services to oil and gas companies. GE traces its roots to Thomas Edison and the invention of the light bulb.
- InvestorPlace•yesterday
5 Chinese Stocks to Consider as China Heads Into a Bear Market
The escalating Chinese trade war has put Chinese stocks in a bear market. This also leaves investors in Chinese stocks in limbo. With the prospects for trade in question, investors are left wondering if and how they can still profit by investing in China.
InvestorPlace•4 hours agoLook for a Bounce In Alibaba as Trump Tariff Turmoil Eases
Shares of Alibaba (NYSE:BABA) have certainly felt the effect of the recent Chinese tariff and trade war turmoil. BABA stock was trading at all-time highs just a few weeks ago, which seems like a distant memory now that Alibaba has been fallen 9%. While assuredly some of the pullback was warranted, the selling in Alibaba is beginning to get overdone.
InvestorPlace•yesterdayThe Next GE? Avoid These 5 Dicey Dividends
Many investors were kicked in the gut by General Electric (NYSE:GE) last year, no thanks to pundits who ignored numerous red flags and encouraged people to buy GE and its historically generous yield. Anyone keeping tabs on the all-important payout ratios for General Electric’s dividend had to see the writing on the wall. First off, its earnings payout ratio began to skyrocket in the quarters leading up to the cut, including breaking through the all-important 100% mark – in other words, it was paying out more in dividends than it was bringing in profits.
- CNBC•7 hours ago
GE says it plans to 'adjust' its dividend after it spins off its health care unit
General Electric says it will "adjust" its dividend once a just-announced spinoff of its health-care business is completed. GE's current dividend yield is to 3.8 percent, higher than its industrial rivals Honeywell, United Technologies and Eaton. General Electric said Tuesday it will "adjust" its dividend once a just-announced spinoff of its health-care business is completed.
- Zacks•3 hours ago
Why Is General Electric (GE) Stock Surging Today?
Shares of General Electric GE gained about 8% in early morning trading Tuesday after the struggling multinational conglomerate announced plans to spin off its health-care business and separate its stake in Baker Hughes BHGE over the next few years. The moves should help General Electric pare down its debt and sharpen its focus on core businesses like aviation, power, and renewable energy. “We are confident that positioning GE Healthcare and BHGE outside of GE’s current structure is best not only for GE and its owners, but also for these businesses, which will strengthen their market-leading positions and enhance their ability to invest for the future, while carrying the spirit of GE forward,” said CEO John Flannery in a statement.
- The Wall Street Journal•5 hours ago
Stocks to Watch: GE, Applied Materials, Intel, Wells Fargo, Bank of America, Amazon, Berkshire, Exxon
Here are some of the companies with shares expected to trade actively in Tuesday’s session. Stock movements reflect premarket trading. General Electric —Up 6.4%: The struggling industrial conglomerate
- CNBC•23 hours ago
Beaten Dow stock Johnson & Johnson is so bad it’s good, technician says
Health-care giant Johnson & Johnson JNJ has struggled to make gains this year, now down nearly 12 percent since January. Shares of Johnson & Johnson are up 43 percent in the past five years, compared with a gain of nearly 61 percent for the broader S&P 500 in the same time period. Despite the two historically trading in tandem, Worth believes the recent divergence could be setting Johnson & Johnson up as a catch-up opportunity.
