Month: January 2019

Sen. Elizabeth Warren wants billionaires like Howard Schultz and Michael Bloomberg to subscribe to the United States’ “social contract” and pay “their fair share” in taxes, she told CNBC on Thursday in an interview with Jim Cramer. “I want these billionaires to stop being freeloaders,” the Democratic senator said on “Mad Money.” “I want them
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Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday. In an exclusive “Mad Money” interview after PayPal’s report, Rainey emphasized that management was “really pleased” with the fourth-quarter results, highlighting the
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Super-wealthy investors are making some changes to their portfolios for 2019. They are increasing their cash holdings and reducing their equity exposure. They are also cutting back on some of their real estate investments and finding a “short-term solution” in fixed income, according to Michael Sonnenfeldt, founder of investment club Tiger 21. “There’s a lot
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Amazon is reporting its all-important fourth-quarter earnings on Thursday after the bell. The fourth-quarter is typically the largest for Amazon because it includes the holiday shopping season. Investors remain bullish on the quarter, but will be paying close attention to the top line, as revenue fell short of expectations in the last two quarters. Here’s
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France, Germany and Britain have officially put in place a European system to help facilitate trade with Iran. The move will allow the European Union to circumvent U.S. sanctions in an effort to continue humanitarian trade with Iran and work to uphold what is left of the Joint Comprehensive Plan of Action, commonly known as
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Check out the companies making headlines midday Wednesday: Facebook — Facebook shares surged after the social media giant posted quarterly earnings that easily beat expectations. The company’s quarterly revenue also topped estimates. Average revenue per user, a key metric for Facebook, came in at $7.37, above an estimate of $7.11. Avon Products — Shares of
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The last two times Amazon has reported quarterly results, revenue has fallen short of expectations. Now investors are facing the prospects of slowing growth at the e-commerce giant. Amazon is slated to announce fourth-quarter earnings after the bell on Thursday. Analysts surveyed by Refinitiv expect the company to report revenue growth of 18.8 percent from
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Celgene, which is being bought by Bristol-Myers Squibb, reported a better-than-expected fourth-quarter profit on Thursday, driven mainly by higher sales of psoriasis drug Otezla. Bristol-Myers agreed to buy Celgene for about $74 billion earlier this month, a deal that will expand its pipeline of cancer drugs as the company goes head-to-head against rival Merck &
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Despite the scandals and controversies, Facebook analysts agree on one thing: the social media giant keeps growing with no sign of slowing down. Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth quarter numbers after the bell on Wednesday. Analysts pointed out that advertisers continue to spend money on the
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Oil giant Royal Dutch Shell reported better-than-expected full-year earnings on Thursday, as deep cost cuts introduced after the 2014 energy market downturn filtered through. Full-year profits jumped 36 percent to $21.4 billion in 2018 — with cost savings helping the Anglo-Dutch company record its highest annual profits since 2014. Net income attributable to shareholders on
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Economist Larry Summers has advised Democratic presidents, but he’s not ready to jump behind Democratic Sen. Elizabeth Warren’s proposed wealth tax. Warren, of Massachusetts, is a prominent voice in the party’s liberal wing and is exploring a run for president. Her proposal, which she is calling an ultra-millionaire tax, would apply to Americans with more
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Wheels Up has hired bankers for “strategic initiatives” that could include acquisitions, the company’s CEO told CNBC. “We have hired advisors to assist us with our pursuit of strategic initiatives that include exploring acquisition opportunities and expansion of our digital platform,” Wheels Up CEO Kenny Dichter told CNBC in a statement Wednesday evening. “Our plan
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After a barrage of mostly negative headlines in recent months, Facebook reports after the bell Wednesday. Despite the headwinds, analysts remain mostly bullish that the social media titan looks strong heading into the report where they’ll be watching for key metrics on ad revenue, privacy, and messenger integration. Facebook has come under tremendous pressure from
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Democratic leaders sent letters Wednesday to three major pharmaceutical companies asking for the “root causes” of rising insulin costs, the latest attempt by Democrats to tackle high health-care costs in the U.S. Energy and Commerce Committee Chairman Frank Pallone, Jr, D-Nj, and Oversight and Investigations Subcommittee Chair Diana DeGette, D-Co, sent letters to Eli Lilly,
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Shares of health insurer Anthem soared to a record high Wednesday after it announced plans to roll out its new pharmacy benefits management unit IngenioRx sooner than expected and issued earnings guidance for this year that also beat forecasts. “IngenioRx will improve our ability to integrate pharmacy benefits within our already strong medical and specialty
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Amgen. Brian Kelly was a buyer of the Junior Gold Miners ETF. Steve Grasso was a buyer of Lennar. Guy Adami was a buyer of eBay. Trader disclosure: Tim Seymour is long ACBFF, AMZA, ACB, APC, APH,
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