Apple this week pulled a Facebook app from the App Store. It’s called Facebook Research, and its purpose was to let Facebook watch everything that its users did on the phone. Apple says the snooping app is too invasive, even if users consented to letting Facebook watch their every move. That raises some questions. How
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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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Independent research firm Bespoke Investment has uncovered an earnings trend that hasn’t happened since the bull market started. According to its co-founder Paul Hickey, companies are seeing their strongest stock price performances on the days they’re reporting earnings in a decade. “The average return of companies reporting earnings so far this earnings season has been
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Clorox shares jumped 5 percent before the bell Monday after it reported second-quarter profits that topped Wall Street’s expectations and reaffirmed its 2019 outlook. The consumer goods maker posted adjusted earnings per share of $1.40, beating consensus projections of $1.30. It posted 4 percent sales growth in the second quarter, bringing revenues for the three
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The markets have recovered from their year-end turbulence. Still, you’ll likely see the negative effects of that turmoil when you open up your latest 401(k) statement. Average account balances for 401(k), 403(b) and individual retirement accounts dropped for the fourth quarter of 2018 compared to the previous quarter, according to Fidelity Investments. The average 401(k)
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Alphabet is set to report fourth-quarter earnings Monday. Investors will want to see strong advertising numbers amid threats from Amazon and rising costs to doing business. Google, which makes up the vast majority of Alphabet’s business, is increasingly seeing Amazon encroach into its core advdertising business. Revenue in Amazon’s “Other” category — which the company
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Bristol-Myers Squibb shares popped 2 percent early Monday after a Bloomberg report said activist hedge fund Starboard Value has taken a stake in the New York-based pharmaceutical giant. The size of the stake and plans that the activist hedge fund might have for its investment couldn’t be immediately learned, according to Bloomberg. CNBC has reached
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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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Amazon’s cloud-computing division said revenue jumped 45 percent in the fourth quarter, as the company continued to cement its lead over Microsoft and Google. Sales at Amazon Web Services climbed to $7.43 billion from $5.11 billion a year ago, topping the $7.29 billion consensus estimate among analysts polled by FactSet. AWS revenue represented 10 percent
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British fintech start-up Bud said Monday that it had secured $20 million in a funding round co-led by HSBC and Goldman Sachs. The London-based company’s platform lets banks update their apps to give users access to financial services products from rivals. Banks can also categorize a customer’s spending data using Bud’s technology to help them
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Antivirus software maker Symantec shares rose in extended trade on Thursday after beating profit and revenue estimates in the December quarter and raising guidance on strong enterprise and consumer businesses. The company also announced that its Chief Financial Officer Nicholas Noviello will be stepping down to pursue other opportunities, following a slew of key executive
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Check out the companies making headlines midday Friday: Papa John’s — The third-largest pizza delivery company saw its stock fall 8 percent after Reuters reported Papa John’s would not sell itself, despite offers from private equity firms. The firm’s offers reportedly did not meet Papa John’s valuation expectations. Exxon Mobil — Shares of Exxon Mobil
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