Elon Musk isn’t being held accountable for his “mistruths,” and the Tesla CEO should list his company’s shares in Germany, where regulations are loose, short-seller and Musk critic Carson Block contended Friday. “There is a global war against truth,” the CIO of Muddy Waters told CNBC’s “Closing Bell.” “There are millions of people, presumably, that
Bristol-Myers Squibb has been meeting with shareholders in Boston and New York over the last two weeks to try to salvage its $74 billion purchase of cancer drugmaker Celgene, the biggest acquisition announced so far this year. The deal, announced in January, was hard sell to Bristol shareholders from the start. The acquisition adds about
One stock has fell short of chipmakers’ big comeback. Nvidia remains nearly 50 percent below its 52-week high set back in October, while the SMH semiconductor ETF is around 10 percent from sealing its own new record. Todd Gordon, founder of TradingAnalysis.com, sees a bigger break lower for the semis stock. “You can see that
General Electric CEO Larry Culp has simplified the company’s report techniques and could be on the right path to fix the challenges in its power division, CNBC’s Jim Cramer said Wednesday. Culp, who became chief of GE in September, delivered his first annual letter to shareholders on Tuesday that Cramer said made a significant departure
L Brands, owner of Victoria’s Secret and Bath & Body Work, on Wednesday reported mixed results in the holiday quarter that sent shares of the company down 9 percent. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $2.14, adjusted, vs.
As the world learns more and more about how the world will operate with 5G, Cisco is one stock that investors should get their hands on, CNBC’s Jim Cramer said on Tuesday. The “Mad Money” host said while the Cisco stock is still cheap, selling for 15 times earnings and offering a 2.7 percent yield,
Papa John’s International on Tuesday reported quarterly earnings and revenue that fell short of analysts’ expectations. Shares of the company rose less than 1 percent in extended trading. Same-store sales in North America decreased by 8.1 percent during the fourth quarter. Outside of North America, same-store sales saw smaller declines of 2.6 percent. The embattled
Deutsche Bank: “You need a recovery in Europe. I was over in Europe last week, I’ve gotta tell you you’re not going to see that as long as China is not doing that well either. I’m going to have to take a pass on Deutsche Bank. I don’t want you to buy it here.” Sarepta
And the Fed bashing continues. It’s a no-win situation for the Federal Reserve these days, as academics criticize the central bank for bringing all manner of ills to bear on the domestic, and even the global, economy. A new University of Chicago paper, recently cited by the website Zero Hedge, suggests that former Fed Chairman
The United States is planning to delay a menu of additional Chinese tariffs that were scheduled to begin on March 1, President Donald Trump announced on Sunday, as the world’s two largest economies hash out a definitive end to a wide ranging trade dispute. In a series of posts on Twitter, Trump cited “substantial progress”
The Cooneys walked into the office to hear their test results. Matt Cooney, a 79-year-old retired television sportscaster, was informed that his financial decision-making capacity was in jeopardy. Dobe Cooney admitted that her husband had lost track of their bills a few times lately. “We don’t leave the teeth in the refrigerator or anything like
A leading Wall Street firm predicts global interest rates could fall to three year lows this year — to about 1 percent. According to Medley Global Advisors’ Ben Emons, the scenario is becoming more likely because inflation is very subdued. “With all this shock that happened in the fourth quarter and energy prices falling quite
Warren Buffett‘s Berkshire Hathaway is betting on companies like Apple, Goldman Sachs and American Express for the long run, the “Oracle of Omaha” said in his annual letter to shareholders released Saturday. The letter showed Berkshire’s investment in Apple was worth more than $40 billion in terms of market value at the end of 2018.
Each year in early May, tens of thousands of Warren Buffett disciples come to Omaha for Berkshire Hathaway’s annual meeting, featuring a marathon 6-hour question-and-answer session with Buffett and his business partner Charlie Munger. They cover a wide variety of topics, including how they make their investment decisions. They emphasize that you should buy a
JPMorgan Chase is tearing down walls and moving its San Francisco investment bankers onto “hot desks,” a space-saving layout that has long been a fixture at tech companies, while redesigning offices in Dallas and other cities. Shared workspaces have been relatively slow to catch on at banks, but JPMorgan is following recent renovations by some
If you want to invest in individual stocks, you have to be ready to do your homework, CNBC’s Jim Cramer said on his show Thursday. The “Mad Money” host told a story from his childhood about how his father, “Pops,” began buying stocks of National Video through a tip that he received from his brother.
A single Wall Street analyst is responsible for skewing the revenue picture of the whole stock market. UBS analyst Brian Meredith slashed his fourth-quarter revenue estimate for Berkshire Hathaway on Tuesday, bringing the consensus forecast down to $48.4 billion from $63.5 billion for the Warren Buffett-led company, according to data provider Refinitiv. Because of the
The market has been rising since it hit “rock bottom” in December and there’s enough momentum in the United States economy alone to carry the cycle as global growth slows, top J.P. Morgan strategist Marko Kolanovic told CNBC on Wednesday. Kolanovic, whose calls have moved the stock market in the past, credited shifting policy in
This is a developing story. Check back here for updates. Federal Reserve officials judged that a “patient” approach to interest rate hikes would be prudent as they continued weigh various headwinds to growth, according to meeting minutes released Wednesday. The central just released the summary of its policy meeting Jan. 29-30, with the market watching
Freeport-McMoRan has struck gold. The miner’s shares surged on Tuesday in its fifth one-day rally of more than 5 percent since the beginning of the year. Ari Wald, head of technical analysis at Oppenheimer, says he doesn’t see a strong fundamental picture but the technicals support another rally from here. “It doesn’t fit any of