Month: October 2018

Guggenheim’s Scott Minerd expects a recession in 2020, but if Republicans maintain control of Congress in the upcoming elections that could be delayed. However, there will be a cost, he told CNBC on Wednesday. “That will extend the expansion but that will make the recession that follows all the worse. We’re already seeing excesses in
0 Comments
If Kylie Jenner “likes” something, chances are, her followers will buy it. Of course, Jenner is among the highest-valued influencers on social media today. The reality TV star turned cosmetics billionaire makes an estimated $1 million per sponsored post on her Instagram, according to the 2018 Instagram Rich List compiled by Hopper HQ. Seeing celebrities,
0 Comments
In this strange moment for stocks, investors should hope to see bad news about the economy, CNBC’s Jim Cramer said Tuesday after the major averages traded sharply higher following weaker-than-expected economic data. “Bizarrely enough, the best thing for this market would be getting some disappointing news from the non-farm payroll report on Friday,” Cramer said.
0 Comments
Facebook fell short when it came to revenue, daily active user and monthly active user estimates in its latest earnings report, despite exceeding analyst expectations on earnings per share. The company reported its third-quarter earnings after bell on Tuesday: Earnings per share (EPS): $1.76 vs $1.47 estimated, per Refinitv Revenue: $13.73 billion vs. $13.78 billion
0 Comments
Bitcoin’s value has dropped drastically this year, but the value of cryptocurrency exchange Coinbase is skyrocketing in the opposite direction. The San Francisco-based company on Tuesday announced a $300 million fundraising round that puts Coinbase’s new valuation at $8 billion and makes it one of the most highly valued in the United States. The deal
0 Comments
Mastercard’s third-quarter profit rose 33 percent, it said on Tuesday, joining rival payments network Visa in reporting higher earnings led by rising U.S. consumer spending. Mastercard’s net income climbed to $1.90 billion or $1.82 per share in the three months ended Sept. 30, from $1.43 billion or $1.34 per share a year earlier. Excluding one-time
0 Comments
Goop, the lifestyle brand owned by actress Gwyneth Paltrow, has been reported to the U.K.’s trading standards and advertising watchdogs over allegations that it makes misleading claims about its products. The Good Thinking Society, a non-profit charity that campaigns against pseudoscience, confirmed to CNBC Monday that it had submitted the complaint about Goop to the
0 Comments
Technology-focused hedge fund SoMa Equity Partners told investors on Monday that one of its best investment ideas is a stake in The New York Times Company. “Newspapers are mostly dead, but the news isn’t dead,” Gil Simon, SoMa’s founder and chief investment officer, said during an interview with CNBC’s Leslie Picker at the Sohn conference
0 Comments
Tesla shares jumped more than 10 percent in early trading Thursday, a day after the electric car maker delivered third-quarter earnings that blew past expectations, showing signs that it is on its way to becoming the sustainably self-funded company promised by CEO Elon Musk. Musk had previously said he expected Tesla to be both profitable
0 Comments
When Congress authorized a $350 million fund to help fix a popular but troubled student loan forgiveness program earlier this year, Michael Sonn was excited. Finally, he thought, he might be debt-free. However, the remedy isn’t going too well. Nearly 90 percent of applicants who applied for the so-called temporary expanded public service loan forgiveness
0 Comments
Warren Buffett’s Berkshire Hathaway is doing something outside of its closely followed playbook. The conglomerate, which typically takes stakes in blue chip American companies, has invested roughly $600 million in two fintech companies focused on emerging markets — Paytm and StoneCo Ltd., The Wall Street Journal reported Monday. Both investments were led by one of
0 Comments
Prominent investor Mark Mobius said Monday that he sees the recent correction deepening if Republicans lose control in Congress next week. “If, for example, the Democrats get control of the House, I believe this will be bad for the U.S. market,” Mark Mobius, co-founder of Mobius Capital Partners, said in a Bloomberg TV interview. “So
0 Comments
You may have read about those people pursuing decades-early retirement and financial independence. They’re depicted, generally, as men in their 30s who work in tech. Yet the financial independence movement, often called FIRE (financial independence, retire early), is far more diverse. To begin with, it’s not all men. There’s growing interest in the possibility of
0 Comments
Death and taxes may be unavoidable. Taken together, they become a firestorm. The federal estate tax has been a hot-button issue since it was first imposed under the Revenue Act of 1916, when 10 percent was levied on portions of an estate exceeding $5 million. The reason this one component of fiscal policy remains so
0 Comments