Business News
Apple says it supports 2.4 million U.S. jobs
Apple Inc said on Wednesday it was either directly or indirectly responsible for 2.4 million U.S. jobs, up 20% from the 2 million the technology company estimated in 2017.
Year: 2019
Business News
SoftBank convertible note helped cut WeWork losses
Investors may be stumped by some of the finances WeWork owner We Company unveiled this week in its filing to go public, in particular a $486 million gain on a convertible note that made losses at the coworking firm appear a lot smaller.
Business News
Ackman confident portfolio can keep delivering strong returns: letter
Billionaire investor William Ackman, whose portfolio has gained almost 50% this year, said his fund can keep delivering “high, long-term” returns and that he expects Berkshire Hathaway Inc stock to help boost gains.
Business News
Trump says trade war with China will be fairly short
U.S. President Donald Trump said on Thursday he believes China wants to make a trade deal and the trade war with Beijing will be fairly short.
Business News
Democrat wants FCC to open T-Mobile, Sprint settlement for comment
U.S. Representative David Cicilline urged Federal Communications Commission Chairman Ajit Pai on Thursday to give the public the chance to comment on a draft order that would grant agency approval to the $26 billion merger of T-Mobile US Inc and Sprint Corp .
Trading Ideas
A Painful Reminder
We’re quick to criticize the healthcare system in the U.S.
To be sure, there’s plenty of cause for legitimate frustration with our healthcare system. Premiums and prescription costs are too high, too many unnecessary tests pile on costs, statements are impossible to read or understand… the list is endless.
But a stark reminder last week brought me back to earth in terms of how grateful I am for the healthcare system in the U.S.
I was on vacation in Scotland. I was on a whisky and walking tour of the River Spey region that distillers like Glenfiddich and Macallan call home. Each day, …read more […]
Business News
Stocks waver, dollar recovers on renewed growth worries
The dollar recovered from early weakness but a gauge of world equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings.
Business News
S&P 500, Dow gain as upbeat retail sales offset recession fears
The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering U.S.-China trade tensions.
Trading Ideas
Recent IPO Stands to Benefit From Upcoming Holiday Season
Yesterday, shares of The RealReal (Nasdaq: REAL) sold off sharply after the company reported earnings. The RealReal moved higher at the market open, up around 10%, then headed lower as the Dow Jones Industrial Average fell by more than 800 points.
The RealReal is a high-end consignment operation that has a huge online presence. The San Francisco-based company reported total revenue for the second quarter jumped 51% from a year earlier to $71 million, which was above the FactSet consensus forecast of $70.1 million. The company’s gross merchandise volume increased 40% to $228.5 million.
The company IPO’d at the end of June …read more […]
Business News
Revlon taps Goldman to explore strategic options: Bloomberg
Cosmetics maker Revlon Inc has tapped Goldman Sachs Group Inc to explore options for its business, Bloomberg reported on Thursday, citing people familiar with the matter.
Business News
American, Southwest Airlines bump more passengers after 737 MAX grounding
American Airlines Group Inc and Southwest Airlines Co are bumping thousands of passengers off airplanes after their Boeing 737 MAX fleet’s was grounded in mid-March following two fatal crashes.
Business News
GE shares fall on Madoff whistleblower calling its finances a fraud
General Electric Co shares fell as much as 15% on Thursday after fraud investigator Harry Markopolos, who blew the whistle on Bernard Madoff’s Ponzi scheme, said GE was concealing deep financial problems, prompting a sharp rebuke from GE’s new CEO.
Business News
Wall Street struggles for direction as bond yields slide
Wall Street seesawed from red to black and back on Thursday as recessionary fears and simmering U.S.-China trade tensions offset upbeat retail sales data.
Business News
WTO paves way for China to seek sanctions against U.S.
The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
Trading Ideas
Two Questions to Ask at a Marijuana Dispensary
In the U.S., cannabis was a patent medicine during the 19th and early 20th centuries. It was first described in the United States Pharmacopeia in 1850.
It’s a plant older than humanity. Unfortunately, it got caught up in some bad publicity.
It was demonized in the Marihuana Tax Act of 1937. By 1942, cannabis was struck from the Pharmacopeia. And penalties for possessing marijuana increased in 1951, 1956 and 1970 with the Controlled Substances Act.
But the end of nearly a century of prohibition is winding down. Cannabis has found a new lease on life today.
I’m pleased to share with you the second …read more […]