Finance

Tesla‘s now former chief accounting officer Dave Morton quit the company after concluding CEO Elon Musk wasn’t interested in accounting details around a potential take-private transaction, according to a person familiar with the matter who has spoken to Morton in recent days. Morton resigned September 4, according to a company filing released on Friday. Morton
0 Comments
The Department of Justice is investigating a banking unit of Wells Fargo after the bank’s review found that employees’ altering of documents was a more pervasive practice than previously thought, according to The Wall Street Journal on Thursday. The government’s latest examination of potential fraud by Wells Fargo is focused on its wholesale banking unit,
0 Comments
Check out the companies making headlines after the bell: DocuSign shares dipped more than 3 percent in the extended session despite a better-than-expected quarterly earnings report. The stock later pared much of those losses. The San Francisco-based company reported earnings of 3 cents per share, higher than the 1 cent per share expected by analysts.
0 Comments
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of AT&T Karen Finermwan was a buyer of Delta Airlines Steve Grasso was a buyer of Canopy Growth Guy Adami was a buyer of HollyFrontier Corp Trader disclosure: On September 4, 2018 the following stocks and commodities mentioned
0 Comments
Check out the companies making headlines after the bell: RH shares dropped more than 4 percent after initially rising 6.5 percent during after-hours trading following the release of its second-quarter results. RH missed revenues estimates by $20 million, reporting sales of $641 million versus the $661 million expected by Wall Street. However, it beat earnings
0 Comments
Facebook shares will disappoint as governments increasingly scrutinize the company’s practices, according to MoffettNathanson. The firm lowered its rating to neutral from buy for Facebook shares, predicting the internet company will generate earnings below expectations this year. “We believe that revenue growth deceleration coupled with the company’s long-term margin guidance does not provide a meaningful
0 Comments
Technology is going to fundamentally transform the banking industry over the coming years, a former Barclays CEO told CNBC on Monday. Antony Jenkins, who led the British bank through a tumultuous period between 2012 and 2015, said regulatory measures imposed in the aftermath of the 2008 financial crisis had made the global financial system safer.
0 Comments
The latest earnings reports from China’s big four banks showed improvements across key financial metrics, but some investors remain worried that things could get worse for lenders in the world’s second-largest economy. Such concerns arose after the country’s central bank, the People’s Bank of China, made several moves to loosen monetary conditions as economic growth
0 Comments
Check out the companies making headlines before the bell: Coca-Cola – Coca-Cola struck a deal buy Costa, the world’s second-largest coffee chain, from Britain’s Whitbread for $5.1 billion, including assumed debt. Costa has nearly 4,000 locations across a variety of international markets. Lululemon – Lululemon reported second-quarter profit of 71 cents per share, well above
0 Comments
Bank of America Merrill Lynch is getting worried about the video gaming industry’s holiday selling season. The firm lowered its rating for both Electronic Arts and Activision Blizzard shares to neutral from buy, citing the crowded holiday slate and competition from “Fortnite.” On Thursday, EA shares fell nearly 10 percent after the company delayed its
0 Comments
Check out the companies making headlines after the bell: American Outdoor Brands shares skyrocketed 20 percent in the extended session after a first-quarter earnings beat. The Smith & Wesson parent company earned 21 cents per share for the quarter, up 9 cents from Wall Street’s expectations of 12 cents per share. It also beat estimates
0 Comments
Hong Kong’s burgeoning financial links with China hold enormous opportunities — but they carry risks for its banking sector as well. Compared to Hong Kong’s, mainland China’s financial regulatory regime can be less transparent. So, as financial institutions from the mainland increasingly operate in the semi-autonomous financial hub, potential business partners need to be aware
0 Comments
Check out the companies making headlines after the bell: Guess shares rose more than 11 percent during after-hours trading following an earnings beat for the second quarter. The clothing brand earned 36 cents per share, 4 cents higher than analysts’ estimates of 32 cents. The company also issued strong revenue guidance despite missing estimates on
0 Comments
Check out the companies making headlines after the bell: H&R Block shares rose 4.5 percent during after-hours trading following better-than-expected earnings for its first quarter, but subsequently erased those gains. The tax preparation company reported first-quarter consolidated losses of 74 cents per share and revenues of $145.2 million, according to Reuters. Wall Street predicted losses
0 Comments
One of the year’s biggest bulls is bracing for a near-term pullback. Federated Investors’ Phil Orlando believes escalating geopolitical risks will put pressure on stocks in coming weeks. He’s concerned that uncertainty surrounding Federal Reserve policy, the Mueller investigation, midterm elections and the tariff war could trigger a downside move. “That’s exactly what’s on my
0 Comments
AMD shares are soaring after several analysts became more optimistic about the chipmaker’s market share gains over the past month. Cowen said AMD will win business with cloud computing vendors as they seek to diversify their risk exposure to chip-specific security flaws. “We do not believe any digital processing company is immune from bugs and
0 Comments
If you’re trying to figure out when bitcoin’s slump will end, you may want to look at the emerging markets. According to Fundstrat Global Advisors’ Thomas Lee, there’s an important correlation budding between emerging markets and bitcoin, the most dominant coin in the cryptocurrency space.” “Both really essentially peaked early this year, and they both
0 Comments
United Continental is moving its stock to the Nasdaq. The airline company said in a press release after the bell Friday that it is transferring its stock exchange listing from the New York Stock Exchange, with its common stock set to begin trading on the Nasdaq on Sept. 7. “We look forward to our future
0 Comments
Rosenblatt Securities is more optimistic on AMD’s future market share gains after meetings with the company’s executives. The firm raised its price target for AMD shares to $30 from $27, citing the chipmaker’s process manufacturing advantage versus Intel and Nvidia. The new forecast represents 44 percent upside to Wednesday’s close and is the highest target
0 Comments