Sealed Air shares fell after the bubble wrap manufacturer previewed disappointing third-quarter earnings and slashed its full-year profit outlook on Wednesday. The company said it expects third-quarter earnings per share between 60 cents and 61 cents. Analysts had expected earnings of 66 cents per share, according to a Refinitiv consensus estimate. CEO Ted Doheny said
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Last week, Google complied with the European Union’s $5 billion antitrust ruling by changing how it bundles its apps, and allowing phone manufacturers to make devices with modified — or “forked” — versions of Android alongside phones with Google’s version. But as details leak out about how exactly these changes will be structured, it’s hard
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We’ve all heard of voodoo economics, but voodoo investing? Noted Washington, D.C.-area radio personality and former financial advisor Dawn Bennett was convicted earlier this week of fraud, found to have bilked 46 listeners, advisory clients and friends who trusted her out of some $20 million in a Ponzi scheme. Prosecutors say she used voodoo in
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Harley-Davidson‘s spat with President Donald Trump seems to be having a significant impact on the iconic motorcycle manufacturer, according to an analyst report. Trump backed a possible boycott of the Wisconsin-based motorcycle manufacturer on social media. Harley sales already had slipped 8.7 percent in the first half of 2018 while its main American competitor, Polaris
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There is still a healthy demand for recreational vehicles — but rate hikes and fallout from tariffs could wind up putting pressure on the sector, Winnebago CEO Michael Happe told CNBC on Wednesday. The company reported better-than-expected earnings before the bell on Wednesday, sending shares higher. After a bounce higher at the open, Winnebago gave
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Politics, it’s been said, creates strange bedfellows. So does the auto industry these days. Ford this week announced plans to expand its work with Mahindra Group, one of India’s largest car companies, to find ways to collaborate on advanced powertrains, connected car technologies and even new vehicles. The new agreement comes as the auto industry
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The “Fast Money” traders shared their first moves for the market open. Dan Nathan was a seller of the Financials ETF Brian Kelly was a buyer of SPDR Gold Shares Karen Finerman was a buyer of Golar LNG Guy Adami was a buyer of Viacom Trader disclosure: On October 18, 2018 the following stocks and
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Joe Horowitz is a venture capital traditionalist. He believes in best practices, business fundamentals and calculated bets. But as megafunds and hundred-million-dollar rounds balloon valuations and flood the space, the Icon Ventures managing general partner finds himself fighting money with money. “If we don’t adjust to the reality of the implications of what the megafunds
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The Mega Millions jackpot reached $1 billion on Friday. So, what are the odds of hitting the winning numbers? Pretty slim. To make things even more difficult, lottery officials who run the Mega Millions game tweaked the rules and odds in October 2017 to make jackpots pay out less frequently, spurring their monster growth, according
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America has a retirement savings crisis. Nearly half of working-age households can’t continue their current standard of living in retirement, according to data from the U.S. Federal Reserve’s Survey of Consumer Finances. People are living longer, and traditional pension plans are vanishing, hurting the chances for people to save enough to live comfortably in retirement.
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The Federal Reserve isn’t paying enough attention to the jobs being wiped out by technological innovation, CNBC’s Jim Cramer said Friday. “Right at the moment when Silicon Valley is laying waste to white-collar jobs and many factory positions — that’s why companies love the cloud, it lets them fire people — the Fed is obsessed
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Jamie Dimon has never been shy about his envy for Silicon Valley. The CEO of J.P. Morgan Chase frequently travels west to meet with venture capitalists and entrepreneurs, touts his bank’s hefty investments in technology and famously warned in 2015 that “Silicon Valley is coming,” thanks to “hundreds of startups with a lot of brains
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PayPal reported third-quarter earnings and revenue that topped Wall Street estimates on Thursday. Here’s how the company did compared with what Wall Street expected: Earnings: 58 cents vs. 54 cents per share, forecast by Refinitiv. Revenue: $3.68 billion vs. $3.66 billion, forecast by Refinitiv. Shares of PayPal rose 2.2 percent in after-hours trading Thursday and
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A handful of beaten-down stocks could be screaming buys, at least if Wall Street forecasters are any indication. Names such as Western Digital, Micron and American Airlines have lost double-digits this year, putting them among stocks trading at the largest discounts to their respective average analyst price targets. While these losses are severe even amid
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The Treasury Department on Friday outlined rules for investors seeking to finance development in under-served regions in exchange for significant tax breaks. The proposed guidance would govern investments in so-called “opportunity zones” across the country that were created under the sweeping new Republican tax law. Treasury Secretary Steven Mnuchin estimated as much as $100 billion
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Apple CEO Tim Cook is calling for Bloomberg to retract its story about Chinese spy chips embedded in the company’s server equipment, telling Buzzfeed News in an interview, “This did not happen. There’s no truth to this.” “I was involved in our response to this story from the beginning,” Cook said according to Buzzfeed. “I
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