In the 19th century, a few pioneering entrepreneurs set out to make a tropical fruit the most popular in the U.S. They succeeded, and the banana is still Americans’ favorite fruit. In the last decade, the U.S. imported an average of $2.2 billion worth of bananas each year, largely from Central and South America. Most
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Check out the companies making headlines after the bell: Shares of Intuitive Surgical plummeted more than 6 percent in extended trading Thursday following the release of the company’s disappointing first-quarter earnings. Intuitive Surgical posted earnings per share of $2.61, missing Refinitiv estimates of $2.70. Revenue was in line with estimates at $974 million. Pinterest shares
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The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. The popular millennial stock-trading app brought in $69 million in order routing revenue in 2018, according to a new estimate from Alphacution Research, three times what the company brought in a year
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An improved camera system will be a major selling point for Apple‘s 2019 iPhone lineup, according to a research note from TF International Securities analyst Ming-Chi Kuo. Improved cameras and picture quality could give consumers a reason to upgrade from older models as iPhone sales growth has stalled in recent years. Camera quality is frequently
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This is breaking news. Please check back for updates. Canadian marijuana grower Canopy Growth announced Thursday a $3.4 billion deal to acquire Acreage Holdings after cannabis has been legalized in the United States. “Today we announce a complex transaction with a simple objective. Our right to acquire Acreage secures our entrance strategy into the United
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American Express on Thursday reported lower earnings in the first quarter but earnings per share beat estimates. The New York-based company said it had net income of $1.55 billion, or $1.80 per share. Earnings, adjusted for non-recurring costs, came to $2.01 per share. The results surpassed Wall Street expectations. The average estimate of eight analysts
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The U.S. cannabis space is blooming. With 33 states now offering some form of legal medical or recreational marijuana, and pot companies expanding their footprints across the country, the cannabis “gold rush” is underway — and it won’t stop anytime soon, says Ben Kovler, founder, chairman and CEO of multistate operator Green Thumb Industries. “The
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In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of
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Consumer goods group Unilever reported stronger than expected quarterly underlying sales growth, helped by higher prices and volume, and strength in emerging markets. The maker of Dove soap and Ben & Jerry’s ice cream also on Thursday stood by its outlook for the full year, which calls for underlying sales growth in the lower half
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Pete Buttigieg’s increasingly popular presidential runhas drawn the support of more than two dozen top Democratic fundraisers, including people who bundled big-dollar donations for Barack Obama and Hillary Clinton during their White House bids, according to a list CNBC obtained from campaign aides. The financiers on the roster range from former U.S. ambassadors to real
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Federal Reserve Chairman Jerome Powell isn’t the only market player who may be guilty of a little capitulation. Millionaire investors began 2019 with major reservations about the stock market, but as the Federal Reserve‘s abrupt December about-face on interest rates takes hold as the new normal in monetary policy, the wealthy have decided that the
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