The Treasury Department said that 30 percent of high-end real estate deals that were subject under a new watchdog program involved people who had been targeted by the government for “suspicious activity” and potential money laundering. Treasury this week expanded and extended a program targeting luxury real estate deals in New York, Miami, Los Angeles
Sears shares moved sharply higher Thursday after the department store reported making progress toward stabilizing its business. The stock was 7.9 percent higher shortly after market opened. Earlier Thursday, Sears reported a narrower-than-expected loss but said sales continued to erode. The retailer posted a double-digit decline in comparable sales for the second quarter, citing a
Shares of J.M. Smucker and Hormel Foods fell sharply Thursday after weaker-than-expected earnings as consumers continue to turn down packaged foods in favor fresher offerings, especially as Amazon prepares to take over organic grocery chain Whole Foods Market. Shares of Smucker slid nearly 9 percent while shares of Hormel fell 5.3 percent in afternoon trade
Dollar Tree reported better-than-expected quarterly profit and comparable sales, helped by lower costs and discounts as well as a 1 percent rise in same-store sales at its Family Dollar business. Shares of the biggest U.S. dollar-store chain operator rose 9 percent to $81.04 in premarket trading on Thursday after the company raised its profit and
However, the UBS report says the 3 percent knock to earnings is not disastrous as euro zone company earnings are up strongly this year. “Additionally, there have been periods in the past of euro strength coinciding with decent European eps as it can signal a stronger domestic economy. Consensus estimates for 2017 EPS growth, currently
A lucky winner in Massachusetts is taking home the $758.7 million Powerball jackpot. Experts typically advise lottery winners to take their time before claiming the prize, and to stay anonymous if possible. But Mavis L. Wanczyk, a 53-year-old hospital worker from Chicopee, Mass., stepped forward Thursday to claim her prize — the largest individual win
Tiffany reported bigger-than-expected quarterly profit and sales on Thursday, helped in part by higher demand for its fashion and designer jewelry in Japan and lower input costs. Sales at established stores open for more than a year fell 2 percent, steeper than the 1 percent fall expected by analysts polled by research firm Consensus Metrix.
Carl Court | Getty Images A Banksy artwork opposite the French embassy in London, criticising the use of teargas in the ‘Jungle’ migrant camp in Calais. “The very best guys do something different in the gallery as what they do on the streets. And in my 15 years, all I’ve seen so far is it
“This has been an unusually disappointing quarter for retailers, with only about half of the companies beating estimates, while over 70 percent in the S&P 500 have beaten those estimates. This is the last week where we could see some positive surprises,” said Erin Gibbs, portfolio manager at S&P Global. Some of the weakness seen
Uber trimmed its losses 14 percent in the second quarter from a year ago, as the ride-hailing giant grew bookings, trips and revenue. The company posted a net loss of $645 million on revenue of $1.75 billion. Revenue this time last year was $800 million. Global trips popped 150 percent from a year ago, while
Mooresville, North Carolina-based Lowe’s reported net income for the second quarter of $1.4 billion, or $1.68 per share, compared to $1.2 billion, or $1.31 a share, one year ago. Excluding a $96 million gain from the sale of Lowe’s interest in its Australian joint venture, the retailer earned $1.57 a share. Revenue increased 6.8 percent,
American Eagle Outfitters surprised Wall Street on Wednesday, reporting same-store sales growth for the second quarter. The teen apparel retailer also posted better-than-expected quarterly revenue and profit, boosted by strong demand for its Aerie line of lingerie. Shares of American Eagle were last climbing about 7 percent on the news. “We are particularly encouraged by
Many plan sponsors don’t realize they are fiduciaries. Fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of retirement-plan participants and their beneficiaries. The most important responsibilities include, but are not limited to, drafting an investment policy statement, selecting the funds that will make up the investment menu
Salesforce reported its second quarter earnings on Tuesday after the bell, and the numbers came in above estimates. Here are the most important numbers: Adjusted EPS: 33 cents vs. 32 cents per share expected by a Thomson Reuters consensus estimate Revenue: $2.56 billion vs. $2.51 billion expected by a Thomson Reuters consensus estimate Despite the
Intuit reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday. Here’s how the company did compared to what Wall Street expected: EPS: 20 cents vs. 17 cents expected, according to Thomson Reuters Revenue: $842 million vs. $804.6 million expected, according to Thomson Reuters For the fiscal first quarter, the company said it expects
U.S. luxury homebuilder Toll Brothers quarterly revenue fell just short of Wall Street estimates as the company’s new line of lower-priced homes targeting millennials weighed on average selling prices. Shares of the company, which narrowed its revenue outlook range and cut the top end of its adjusted gross margin forecast for the full year, were
There’s no way to sugarcoat it — market volatility is the new normal in today’s investing environment. For decades millions of American investors have followed an aggressive growth strategy — a strategy that worked. For many it went like this: During those wealth accumulation years, invest heavily in equities such as blue-chip stocks. Rinse. Repeat.
Medical device maker Medtronic on Tuesday reported a quarterly profit that beat analysts’ estimates, driven by strong demand for its heart and vascular devices. Sales in the company’s cardiac and vascular business, which sells defibrillators, pace-makers, heart valves and stents, rose 5.1 percent to $2.65 billion in the first quarter ended July 28, Medtronic said.
My sharpest tool as a long-term investor is what is commonly known as a lazy portfolio, and it’s a great way for regular people to efficiently grow their assets, easily diversify away unsystematic risk and pay the lowest fees to do it. I think it’s “foxy” for several reasons. 1. It’s easy to understand. When
“We believe these industry dynamics will persist through 2017, and we expect comparable sales to be down three to four percent over the remainder of the year,” Johnson added. In response to Foot Locker’s disappointing results and outlook, shares of Nike and Under Armour dropped 4.4 and 3.9 percent, respectively. Entering Friday’s session, Foot Locker