Florida Sen. Marco Rubio lashed out again Wednesday against Wall Street, vowing to present a bill “soon” that will try to push companies to stop spending so much of their cash on share buybacks. In a tweetstorm that began in late-morning, the former Republican presidential candidate ripped into the culture of shareholder and executive enrichment
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Check out the companies making headlines midday Wednesday: Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Diebold expects adjusted earnings before interest, taxes, appreciation and amortization to range between $380 million and $420 million, well above a FactSet estimate
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Student loan borrowers would have their monthly bills automatically deducted from their paychecks if a Republican-backed proposal becomes law. Sen. Lamar Alexander, R-Tenn, chairman of the Senate Health, Education, Labor and Pensions Committee, laid out the details of the massive overhaul to the student loan system in a speech earlier this month. The changes could
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Virgin Group founder Richard Branson is part of the growing circle of elite business players questioning wealth disparity in the world today. Amid heated debate about whether the rich should be more highly taxed, the billionaire philanthropist weighed in with his own view during the Milken Institute Summit in Abu Dhabi this week. “We have
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Seniors lose an estimated $2.9 billion annually from financial exploitation, according to the Senate Special Committee on Aging. Impersonating the IRS was the No. 1 scam targeting seniors in 2018. More than 1,500 seniors across the country contacted the committee’s fraud hotline in 2018; however, Kansas Attorney General Derek Schmidt said in recent testimony that
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Dutch paint maker Akzo Nobel on Wednesday posted flat fourth-quarter core earnings of 240 million euros ($272 million), but marginally beat expectations, and said it expected pressure from rising raw material costs to ease in 2019. Analysts polled by Reuters had expected earnings before interest, taxes, depreciation and amortisation (EBITDA) for the three months ended
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LOS ANGELES — In his first state of the state address on Tuesday, California Gov. Gavin Newsom proposed “a new data dividend” that could potentially allow residents to get paid for providing access to their data. “California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said,
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Check out the companies making headlines after the bell: Shares of Activision Blizzard were volatile in extending trading Tuesday following a mixed fourth-quarter earnings report and weak outlooks for both the first quarter and full year. The stock initially fell 3 percent after the company reported earnings of $1.29 per share on revenues of $2.84
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If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said. “Going private is essentially a 100 percent buyback,” said Brian Reynolds, asset class strategist at Canaccord Genuity. He adds that CEOs are motivated
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Under Armour shares initially jumped more than 5 percent on Tuesday after the athletic apparel maker reported better-than-expected fourth-quarter earnings and sales. The sneaker maker earned 9 cents a share on an adjusted basis, topping expectations of 4 cents, based on a poll by Refinitiv. Sales during the quarter were $1.39 billion, again ahead of
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