The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. The popular millennial stock-trading app brought in $69 million in order routing revenue in 2018, according to a new estimate from Alphacution Research, three times what the company brought in a year
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Microsoft on Thursday said it has acquired Express Logic, a company that makes software for embedded devices. Terms of the deal weren’t disclosed. The move reflects Microsoft’s continuing focus on generating revenue around the so-called “internet of things,” which describes how a wide range of simple devices can gain functionality by connecting to the internet
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In New York City, home to our nation’s financial markets, a staggering 74 percent of its students are considered economically disadvantaged. They are parallel worlds, a few miles apart and largely invisible to one another. This is an increasing challenge across our country: How do we build a path to economic mobility for more of
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Morgan Stanley posted profit and revenue that exceeded analysts’ expectations on better-than-expected results in wealth management and fixed-income trading. The bank generated $2.4 billion in first-quarter profit, or $1.39 per share, according to a Wednesday release, compared with the $1.17 estimate of analysts surveyed by Refinitiv. Morgan Stanley’s revenues of $10.3 billion beat the $9.94
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When it comes to money, many people aren’t getting it right — especially professional football players, NFL linebacker Brandon Copeland told CNBC on Wednesday. But there’s one thing in particular that they are doing wrong: Trying to “keep up with the Joneses.” Players entering the National Football League “end up trying to do what other
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Federal Reserve Chairman Jerome Powell isn’t the only market player who may be guilty of a little capitulation. Millionaire investors began 2019 with major reservations about the stock market, but as the Federal Reserve‘s abrupt December about-face on interest rates takes hold as the new normal in monetary policy, the wealthy have decided that the
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Some 60 doctors, pharmacists and other licensed medical professionals in five states are being charged in connection with illegally prescribing more than 32 million pain pills, in some cases for sexual favors, federal prosecutors said on Wednesday. The people charged across 11 federal districts, include 31 doctors, seven pharmacists, eight nurse practitioners, and seven other
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J.B. Hunt Transport Services‘ downbeat earnings call on Monday should put to rest any ideas that the economy is too strong and that the Federal Reserve should tighten interest rates again, CNBC’s Jim Cramer said Tuesday. The trucking and transportation company’s stock sank nearly 5% after missing Wall Street’s expectations and blaming low volume on
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