Earlier Wednesday, Dick’s Sporting Goods also said it will no longer sell guns to anyone under 21 and that it will no longer carry high-capacity magazines. These announcements come after a gunman wielding an AR-15 semi-automatic rifle killed 17 students at a Florida high school earlier this month. On Wednesday, President Donald Trump met with
Ameriprise Financial Services steered retirement savers into higher cost mutual funds than they needed, allowing it to benefit from higher sales fees while dinging investment returns, the Securities and Exchange Commission said Wednesday. The Minneapolis-based brokerage and investment advisor agreed to settle the agency’s charges that it recommended the higher fee products and didn’t waive
Salesforce stock rose 2 percent shortly after the company reported better-than-expected earnings for the fourth quarter of its 2018 fiscal year, which ended on Jan. 31, after the bell on Wednesday. Here’s how the company did: Earnings: Excluding certain items, 35 cents in earnings per share vs. 33 cents as expected by analysts, according to
Saul Loeb | AFP | Getty Images U.S. Treasury Secretary Steven Mnuchin speaks at a daily press briefing at the White House in Washington, DC, on January 11, 2018. The IRS has launched its new income tax withholding calculator, giving workers guidance on how much they should deduct for these levies under the new law.
Adam Jeffery | CNBC The historic Pony Express cover signed by co-founder William H. Russell estimated to fetch between $75,000 and $100,000 at auction. He also has a block of six of the first U.S. stamps, which were issued in 1847, worth between $500,000 and $750,000. Charles Shreve, director for Robert A. Siegel Auction Galleries
Investors should buy Verizon shares after its drop this year due to tax reform and its attractive valuation, according to one Wall Street firm. MoffettNathanson raised its rating to buy from neutral for Verizon shares, citing the company’s low valuation. “We believe that the stock has sold off enough, and that on balance, the rewards
The renaissance in high-yield bonds looks like it’s over, at least judging by the behavior of short sellers. Demand to borrow ETFs that track junk bonds indexes, a key metric determining short interest, has reached a monetary value of $7 billion, its highest level ever recorded, according to IHS Markit analyst Sam Pierson. “Demand remains
We’re only a couple of months into the new year, yet accountants are already drafting strategies to help their clients save on taxes under the new tax code. A survey from the American Institute of Certified Public Accountants showed that 63 percent of affluent individuals said they were likely to tweak their financial planning strategies.
Getty Images A sign is posted in front of a Hertz car sales and rental car office on August 8, 2017 in South San Francisco, California. Shares of Hertz Global sank further after the opening bell on Wednesday, with the car rental company’s post-earnings call failing to settle investors’ nerves after it reported a bigger-than-expected
Off-price apparel retailer TJX on Wednesday beat analysts’ estimates forholiday-quarter same-store sales as discounts drew more shoppers to its Marmaxx and TJX Canada stores, sending its shares to a record high. The company’s shares rose as much as 8.6 percent to $83.95 in early trading. TJX, which has succeeded in bucking the larger slowdown in
“[Immelt] came in, in an aura of a coronation. This big thing, he’s succeeding Jack Welch,” Langone said on “Squawk Box,” though he admitted he had voted for Immelt to succeed Welch. “On paper, [Immelt] looked fabulous. He really did and you can’t take that away from him. Look at the success he had at
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Intel. Steve Grasso was a buyer of Alibaba. Brian Kelly was a buyer of the ProShares Ultrashort Lehman 20+ Year ETF. Tim Seymour was a buyer of Cisco. Trader disclosure: On February 27, 2018, the following stocks
Valeant Pharmaceuticals on Wednesday gave a weaker-than-expected revenue forecast for 2018, as several of its major drugs face more competition from generics. The Canada-based drugmaker’s revenue will also be pressured as the company continues selling off businesses to free up cash and reduce its debt burden of some $25 billion. Valeant has already divested its
Reporting requirements for foreign accounts have become a high-profile issue. Last week, special counsel Robert Mueller filed a slate of charges against two former Trump campaign officials, Paul Manafort and Rick Gates. Among the allegations were charges of “failure to file reports of foreign bank and financial accounts.” After Gates pleaded guilty to conspiracy and
Comcast shares are less attractive after its big offer to buy a European pay-TV provider, according to one Wall Street firm. Macquarie Research lowered its rating to neutral from outperform for Comcast shares, citing concerns over the media company’s acquisition strategy. Comcast shares declined 7 percent Tuesday after the company announced a cash offer to
However, for many people with hefty state and local tax bills, the new federal tax law gives municipal bonds some appeal. The new law caps the state and local tax deduction that can be claimed on federal returns at $10,000. For many households, that cap will outweigh any potential benefits from other changes in the
Sherwin-Williams is deepening a decades-old relationship with Lowe’s, making it the only nationwide home center to offer Sherwin’s popular brands including Minwax, Cabot and Thompson’s Water Seal. Sherwin-Williams will continue to operate its own stores. On the day the deal was announced, Lowe’s also reported quarterly earnings that fell short as profit margins were squeezed.
Aaron P. Bernstein | Reuters White House Senior Adviser Jared Kushner departs following his appearance before a closed session of the Senate Intelligence Committee as part of their probe into Russian meddling in the 2016 U.S. presidential election, on Capitol Hill in Washington, U.S. July 24, 2017. Officials in the United Arab Emirates, China, Israel
Hong Kong unveiled short-term relief measures and capital spending initiatives to sustain growth in an expansionary budget on Wednesday that carried hefty strategic spending to try to bolster the city’s innovation industries. Financial Secretary Paul Chan, addressing the city’s lawmakers in his annual budget speech, also pledged to address livelihood challenges including a widening wealth
Qilai Shen | Bloomberg | Getty Images Ya-Qin Zhang, president of Baidu Inc., listens during the Boao Forum For Asia Annual Conference in Boao, China, on Friday, March 25, 2016. Chinese video streaming service provider iQiyi, a unit of Baidu, on Tuesday filed for an initial public offering of up to $1.5 billion with the