Johnson & Johnson topped second-quarter adjusted earnings and revenue estimates. The company posted adjusted earnings of $2.10 per share, compared with the $2.07 Wall Street analysts polled by Thomson Reuters expected. Revenue hit $20.8 billion, up 10.6 percent from the previous year, surpassing estimates of $20.39 billion. Here’s how the company did compared with what
0 Comments
Some drug companies have continued to increase prices despite growing public discontent, a move that senior equity analyst Elliot Wilbur told CNBC “makes absolutely no sense.” “It’s simply bad decision-making and terrible policy on [a drug company’s] part,” Wilbur, who focuses on pharmaceuticals at financial firm Raymond James, said Monday on “Power Lunch.” Pfizer, one
0 Comments
Gates’ $100 billion fortune in 1999 would be worth about $149 billion in today’s dollars. So today, Bezos officially passed the inflation-adjusted Gates high. Bezos’ fortune has more than doubled over the past two years as Amazon’s stock has soared. Earlier Monday, Amazon shares hit an intraday all-time high of $1,841.95, and the company’s market
0 Comments
Morgan Stanley’s lead domestic equity strategist repeated his call for second-quarter earnings reports to lead to lukewarm responses from companies’ shares, saying investors should get defensive. “While [second-quarter] earnings season should come in better than expected, we do not see it as a positive catalyst for the U.S. equity market. Our defensive rotation call last
0 Comments
Big banks continue to be a profitable group despite being immensely disliked on the Wall Street, CNBC’s Jim Cramer said Monday. “I think this group is hated,” Cramer said on “Squawk Box,” shortly after Bank of America reported better-than-expected second quarter earnings. “More hated than I’ve seen than any other time other than 2009 and
0 Comments
BlackRock, the largest asset manager in the world, on Monday reported second-quarter earnings and revenue that surpassed analyst expectations. The company also reported, however, a slowdown in inflows amid increasing market uncertainty. Here is how the company’s results fared compared with Wall Street estimates: Earnings: Adjusted $6.66 per share, vs $6.55 expected by Thomson Reuters
0 Comments
Bank of America is expected to report second-quarter earnings before the start of trading on Monday. Here’s what Wall Street expects: Earnings: 57 cents per share, 24 percent higher than a year earlier, forecast by Thomson Reuters Revenue: $22.27 billion, 3.4 percent lower than a year earlier, forecast by Thomson Reuters. Loans: $942 billion, 3.4
0 Comments
Europeans are flouting the trading clout they have. They, for example, don’t want to reduce their 10 percent import tax on U.S. automobiles to the 2 percent the U.S. charges on EU-originating motor vehicles. Put very briefly, Trump is wasting time trying to change the existing trans-Atlantic trading regime. He should simply tell the German
0 Comments
People tend to trust financial institutions, making mobile payments more attractive to older generations, according to Zelle, which recently studied how different age groups behave and think about P2P apps. Zelle questioned more than 9,000 U.S. mobile-savvy millennials, Gen Xers and boomers who own smartphones, are aware of P2P and have used online or mobile
0 Comments
Vipin Kumar | Hindustan Times | Getty Images A number of Uber employees have allegedly filed complaints against Uber’s chief operating officer, Barney Harford, for insensitive comments regarding women and minorities. On a conference call this spring with colleagues, Mr. Harford, the company’s chief operating officer, critiqued a new ad that showed a mixed-race couple,
0 Comments
Coinbase, the largest cryptocurrency exchange in the U.S., is considering adding five new tokens to its platform. The five digital coins include cardano, basic attention token, stellar lumens, Zcash and 0x. “It wouldn’t surprise me to see these things up 20, 30, 40 percent over the weekend,” digital trader Brian Kelly said Friday on “Fast
0 Comments
The bank’s recent charge may indicate that consumers are simply getting smarter with rewards programs, according to Bankrate.com chief financial analyst Greg McBride. In online forums devoted to credit-card usage, consumers boast about using spreadsheets and smartphone apps to stay on top of their credit. “There’s a subset of savvy credit-card users who are diligent
0 Comments
Chris Brightman of Research Affiliates says a simple equal-weighted strategy can do even better when combined with regular rebalancing. Rebalancing is essentially trimming stocks that have outperformed and buying those that have underperformed given a historical tendency for prices to revert to an average. In essence, Brightman added, it’s betting against the current Wall Street
0 Comments
The devices make it easier to shepherd traffic around networks. In developing its own, AWS could facilitate the shifting of traffic onto its services and away from customers’ on premises systems. However, networking vendors are well entrenched in large companies’ data centers, and Amazon could face significant sales challenges convincing customers to swap existing gear.
0 Comments