Check out the companies making headlines midday Friday: XPO Logistics – XPO stock tanked a whopping 17 percent after the transportation company reported disappointing fourth-quarter results. Its earnings came in eight cents shy of estimates with adjusted quarterly profit of 72 cents per share, and the company’s revenue also fell short of expectations. XPO also
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Danny Moses, a legendary investor who shorted subprime loans prior to the financial crisis in 2008, told CNBC that the cannabis industry in America has the makings for a big long. “I’ve never seen a sector have the political tailwinds, the economic tailwinds, and the wellness tailwinds that this sector potentially has,” he said on
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Former Homeland Security chief Tom Ridge is now at the center of growing concerns over security and passenger screening at JetSmarter. Following a CNBC investigation into the company last month, JetSmarter, the Florida-based private jet start-up, sent an email to members highlighting its security policies, saying its “proprietary safety and security infrastructure on the ground
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Student loan borrowers would have their monthly bills automatically deducted from their paychecks if a Republican-backed proposal becomes law. Sen. Lamar Alexander, R-Tenn, chairman of the Senate Health, Education, Labor and Pensions Committee, laid out the details of the massive overhaul to the student loan system in a speech earlier this month. The changes could
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A bear market could be just the beginning of the pain for most cryptocurrencies, according to one widely followed industry expert. Barry Silbert, CEO and founder of Digital Currency Group and Grayscale Investments, said besides bitcoin the majority of the once blazing hot crypto market will eventually be worthless. “I’m not a believer in the
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China on Thursday reported imports and exports data for December that easily topped expectations amid its trade dispute with the U.S. That better-than-expected news comes a month after China’s customs data showed imports and exports both fell unexpectedly in December. January dollar-denominated imports fell 1.5 percent, which was far better than expectations of a 10
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Some of the best investments that Silicon Valley has been chasing after can be found on just one stock: Softbank, hedge funder Glen Kacher told CNBC on Wednesday. The founder and chief investment officer of Light Street Capital, based in Palo Alto, California, called the Japanese conglomerate an “incredible opportunity.” SoftBank is the firm’s largest
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Virgin Group founder Richard Branson is part of the growing circle of elite business players questioning wealth disparity in the world today. Amid heated debate about whether the rich should be more highly taxed, the billionaire philanthropist weighed in with his own view during the Milken Institute Summit in Abu Dhabi this week. “We have
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Check out the companies making headlines midday Wednesday: Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Diebold expects adjusted earnings before interest, taxes, appreciation and amortization to range between $380 million and $420 million, well above a FactSet estimate
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After a paltry holiday box office last year, Disney is betting on the massive “Frozen” and “Star Wars” franchises to score big in 2019. On Wednesday, the company dropped its first teaser trailer for “Frozen 2,” the highly anticipated sequel to the 2013 hit. Watch it here: Tweet Disney Audiences have been patiently awaiting the
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Check out the companies making headlines after the bell: Shares of Activision Blizzard were volatile in extending trading Tuesday following a mixed fourth-quarter earnings report and weak outlooks for both the first quarter and full year. The stock initially fell 3 percent after the company reported earnings of $1.29 per share on revenues of $2.84
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LOS ANGELES — In his first state of the state address on Tuesday, California Gov. Gavin Newsom proposed “a new data dividend” that could potentially allow residents to get paid for providing access to their data. “California’s consumers should also be able to share in the wealth that is created from their data,” Newsom said,
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If Congress limits the ability of companies to buy back shares, it would backfire and likely result in more companies taking themselves private through leveraged buyouts, a Wall Street research firm said. “Going private is essentially a 100 percent buyback,” said Brian Reynolds, asset class strategist at Canaccord Genuity. He adds that CEOs are motivated
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