Biotech stocks have lagged recently, as the Nasdaq biotech ETF, the IBB, has declined for three-straight sessions and is down more than 10 percent from its October high. On a technical level, the group’s charts concern Miller Tabak equity strategist Matt Maley. Here’s why: • On Wednesday, the ETF broke below its 200-day moving average,
Bookmaker GVC Holdings has offered to buy Ladbrokes Coral for up to $5.2 billion to create a global online and high street betting giant able to take on rivals and cope with a tougher regulatory environment. GVC, which boasts 79 million registered accounts and operates in 21 languages through names such as sportingbet and partypoker,
Media giant Time Inc.’s acquisition by Meredith is key to boosting its digital business, offering it a fighting chance against “giant tech monsters” like Facebook and Google, the company’s chief content officer, Alan Murray, said Thursday. The $2.8 billion deal, backed by an affiliate of billionaire brothers Charles and David Koch, was announced in November.
studioEAST | Getty Images An Singapore Airlines passenger plane taxis down the runway at Hong Kong International Airport, on 23 Oct. 2017. Singapore Airlines, one of the world’s top ranked carriers, has taken measures to reroute some flights in response to North Korea’s missile tests, Channel NewsAsia reported. The change involves the airline’s Seoul-Los Angeles
As he rounds out his last few months as CEO of the now-private Panera Bread, Ron Shaich told CNBC that one of his biggest worries is the “pervasive short-term-ism” of the public market. “The greatest competitive advantage Panera had, the reason we produced these results we did, is because we could think long term,” Shaich
Paul Tudor Jones, a billionaire hedge fund manager who had thrown his support behind Harvey Weinstein, wrote a note to employees of Tudor Investment Corp. on Wednesday trying to distance himself from the disgraced Hollywood mogul. The note comes after a New York Times report detailing Tudor Jones’ communications with Weinstein in October just as
The potential for Congress to pass a tax-cuts bill is shaping up to be good news for charitable organizations this year. As Republican lawmakers work toward finalizing legislation to overhaul the U.S. tax code, taxpayers are eyeing ways to maximize their giving for 2017 before changes included in the tax bill could make it harder
Health-care expenses and taxes are throwing off baby boomers’ spending patterns. These are just two of the living costs that are consuming more of retirees’ budgets than they had originally planned, according to a new survey from Capital Group, an investment management firm. The company teamed with APCO Insight to poll 1,200 adults online in
It’s a sign of the times. Against a backdrop of falling foot traffic and shuttered department stores, mall owners are looking for ways to more accurately track shoppers at their properties. The information allows landlords to make more informed decisions about how to redevelop and pick tenants. Jones Lang LaSalle, a services firm that specializes
This is the program that helps meet health-care and long-term-care needs of low-income people — and, advocates say, could top the list of targets for budget cuts. It is the third-largest domestic program in the federal budget after Social Security and Medicare, costing the government $364 billion in 2016. Medicaid is funded jointly by the
After decades out of the spotlight, the watch reemerged in October 2017 at Phillips’ inaugural watch auction in New York City. After 12 minutes of bidding, the storied timepiece went to an anonymous telephone bidder. The nearly $18 million that it raked in will benefit The Nell Newman Foundation, a charity group run by Paul’s
Bitcoin is a pure gamble, and those interested in the cryptocurrency should just go to Vegas, CNBC’s Jim Cramer warned on Wednesday. The cryptocurrency, which has surged more than 1,000 percent this year, broke above the $12,000 mark on Wednesday morning, according to industry site CoinDesk. Bitcoin’s rapid gains have prompted some market participants to
The holiday boost in e-commerce isn’t the only factor behind the increase of package theft, said Jamie Siminoff, inventor and founder of Ring. “You also have this opioid crisis that’s happening, that’s driving people to get small amounts of money out of desperation,” he said. The White House has declared the opioid epidemic a national
American Eagle Outfitters on Wednesday forecast strong earnings for the key holiday selling season and delivered third-quarter comparable sales ahead of Wall Street targets, driven by robust demand for its Aerie line of lingerie. The news sent shares of the apparel maker up nearly 4 percent to $16.71 in premarket trading. American Eagle expects earnings
Social media giant Facebook will lead the “FANG” stocks higher in 2018 with no correction in sight, according to Evercore ISI. In fact, given the large addressable markets that are on the cusp of disruption, analyst Anthony DiClemente argues that the next wave of technology growth could be even larger than the last. “Today’s leading
Financial advisors are finding it beneficial, in various ways, to include life coaches and counselors into their operations. Some advisory practices are referring out or contracting with these professionals, while others are developing them from within. “So much of my job includes conversations that are more life-oriented than financial,” said Doug Kobak, certified financial planner
Tim Chong | Reuters U.S. Army Major Rod Secor poses with a AeroVironment RQ-11 Raven, a small hand-launched remote-controlled unmanned aerial vehicle (SUAV), at the U.S. military booth at the Singapore Airshow in Singapore. Shares of AeroVironment, a military drone maker, soared 22 percent in the premarket Wednesday after the company posted strong quarterly sales.
Bitcoin soared above $12,000 for the first time Wednesday, lifting the whole market. Experts believe more institutional money will flow into bitcoin as several derivatives exchanges prepare to introduce futures contracts for the digital currency. Futures contracts enable traders to agree to buy or sell an asset at a predetermined price at a later date.
Bitcoin broke above the $12,000 mark Wednesday morning Asia-time, as the cryptocurrency continued its march higher. As of 11:33 a.m. SIN/HK, the digital token was selling for $12,198.57, according to industry site CoinDesk. The asset began 2017 at less than $1,000 per token, but it has been on an absolute tear in recent months: It
CNBC’s Jim Cramer remembers the days when kids bought the same brands as their parents, afraid that deviating would mean they were questioning their elders’ judgment. But now, consumer patterns are suggesting that the exact opposite idea has taken hold. “Customer loyalty? Hard thing to come by these days,” the “Mad Money” host said. “Now