Finance

Instead of trying to beat a wave of high-growth financial technology startups at their own game, a group of small banks is opting to join them. These low profile community banks quietly run the plumbing underneath billion-dollar fintech firms like Square, Stripe and Robinhood — handling mundane banking activities for them like holding customer deposits
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Money manager Douglas Gordon is worried about a potentially widespread problem in long-term investors’ portfolios. Gordon, who’s instrumental in building Russell Investments’ asset allocation strategies, believes many investors haven’t rebalanced their portfolios to reflect the historic 2019 stock market rally. According to Gordon, the market rally’s robust gains are tilting investors too far into stocks.
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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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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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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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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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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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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan. Steve Grasso was a buyer of Westrock. Dan Nathan was a seller of Citigroup. Guy Adami was a buyer of Twitter. Trader disclosure: Tim Seymour is long AMZN, AAPL, ACBFF, AMZA, ACB, APC, APH, BA, BABA,
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Check out the companies making headlines after the bell: Shares of Skechers surged more than 16 percent in extended trading after the company released fourth-quarter results that beat on its bottom line. The shoe company posted earnings of 31 cents per share, 8 cents more than consensus estimates of 23 cents per share. Despite higher-than-expected
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The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of the Brazil ETF. Karen Finerman was a buyer of FedEx. Mark Tepper was a buyer of O’Reilly Automotive. Dan Nathan was a buyer of Electronic Arts. Trader disclosure: Pete Najarian is long calls AA, EEM, EBAY, EWZ,
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President Donald Trump and Fed Chairman Jerome Powell finally met face-to-face Tuesday, giving the two leaders a chance to communicate and helping to remove one small layer of uncertainty surrounding the markets and the economy. Monday night’s dinner, which Treasury Secretary Steven Mnuchin and Fed Vice Chairman Richard Clarida also attended, came after a year
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January’s super strong jobs report and a solid manufacturing survey on Friday showed that recession worries may be overblown and slowdown fears are not impacting corporate hiring or dampening manufacturers’ sentiment. The economy added a surprising 304,000 new jobs in January, well above the 165,000 expected by economists. Wages grew by an annual 3.2 percent,
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