Longtime activist investor Carl Icahn sold his stake in Lyft prior to its initial public offering last week, according to sources familiar with the matter. Icahn’s stake in Lyft amounted to about 2.7 percent of the ride-hailing company, or about $550 million. It’s been nearly four years since the company announced Icahn’s $100 investment in
It was the sale that shocked the world — and the housing data. Hedge fund billionaire Ken Griffin’s $238 million purchase of a condo in Manhattan single-handedly boosted the average sales price in Manhattan by more than $100,000 in the first quarter, according to an analysis. A report from Douglas Elliman and Miller Samuel showed
The executive chair of the European banking giant Santander Group issued a rallying cry for a common services market in Europe. While the European Union has made progress toward completing an internal European market, the services sector has remained largely protected from international competition. Cross-border differences in standards and certifications have been criticized for restricting
GameStop on Tuesday warned of a potential first-quarter loss as the world’s largest video game retailer wrestles with slowing sales of video games and consoles at its stores. Shares of the company fell 7.52 percent to $9.34 in extended trading after GameStop also reported quarterly revenue below analysts’ estimates. GameStop has struggled in the face
The Food and Drug Administration is investigating nearly three dozen cases of people suffering from seizures after vaping, the agency announced Wednesday. Between 2010 and 2019, the FDA said it received 35 reports of people, especially kids and young adults, experiencing seizures after using e-cigarettes. However, the FDA said it’s unclear whether e-cigarettes caused the
With Tax Day around the corner, more people are able to answer the question: Will I get a refund or do I owe? The big takeaway: You could be surprised at how the new Tax Cuts and Jobs Act affects your bottom line. ln fact, almost one-third of taxpayers who must pay up to the
Women earn just about 80 cents for every dollar that men make, and that difference can add up big over time. A women who starts her career today will miss out on $406,760 in earnings over 40 years, according to new estimates from the National Women’s Law Center. With more public attention to this issue
Tesla’s stock is working to get its groove back and there is an argument to be made that the share price could be ready to soar from its current levels, CNBC’s Jim Cramer said. He turned to technical analyst Bob Moreno, who Cramer noted called the market-wide bottom in December, to understand how the electric
When it comes to managing their money, most people are content on their own. That could backfire. Despite reports that many workers are living paycheck to paycheck and not even half of all adults would be able to cover an unexpected $1,000 expense, the majority of Americans are declining any financial help or advice. To
Selling consumer financing products to India’s vast middle class presents “limitless” opportunities over the next 10 years, according to one of the country’s top business leaders. That’s partly because, for a country with a population of 1.3 billion people, India’s credit card penetration rate is comparatively low, Sanjiv Bajaj, managing director of Bajaj Finserv, told
Airline stocks jumped Tuesday after Delta Air Lines said record performance and healthy demand drove the carrier to raise its earnings and revenue guidance for the first quarter. Delta’s shares jumped 4.6 percent while United and American rose 3.8 percent and 1.4 percent, respectively. Southwest Airlines, JetBlue, Spirit and Alaska Air Group were all trading
Wearing workout clothes as casual attire is a fashion trend that’s gaining steam, CNBC’s Jim Cramer said Tuesday. He recalled that sporting gear companies such as Dick’s Sporting Goods, Nike, and Lululemon all delivered varying quarterly performances from poor to amazing results, but the athleisure space is ever popular. “I don’t think that the pie
To save, or not to save. That question might not be yours. A growing number of companies direct money from their employees paychecks to a retirement account — even after a worker has said “no, thanks.” Auto-enrollment into retirement plans, of course, is not new. The practice has taken off in the workplace since President
Despite the hefty price tag, there’s a piece of good news about retirees’ health-care costs: They aren’t rising as quickly as they were even a few years ago. A healthy male-female couple retiring at age 65 in 2019 can expect to spend $285,000 on health-care expenses in retirement, according to Fidelity Investments’ annual analysis, released
The Alliance of American Football will suspend all football operations today, according to NBC Sports affiliate ProFootballTalk. tweet The league billed itself as one with greater focus on player safety and a more convenient fan experience, aided by a mobile app to host live streamed games. But questions as to its financial stability cropped up
Delta and American Express are extending their exclusive partnership that includes Delta SkyMiles Credit Cards, the companies said Tuesday. The agreement, which now runs through 2029, will allow the companies to build on a partnership that has worked well for both. “Enhancing customer loyalty is at the heart of our business. Our partnership with American
The activists known as the Patriotic Millionaires, who describe themselves as “proud traitors to their class,” want to meet with every member of Congress as part of a new lobbying campaign aimed at convincing lawmakers to raise taxes on the rich. During these meetings, the millionaires intend to use the threat of withholding their endorsements
Walgreens Boots Alliance reported quarterly earnings and revenue that missed analysts’ expectations and lowered its forecast for 2019 in what CEO Stefano Pessina called the “most difficult” quarter since acquiring European drugstore chain Alliance Boots in late 2014. The company now expects full-year earnings for 2019 to be roughly flat, compared with its previous forecast
Shares of Lyft were down 3.5 percent in early morning trading Tuesday as the stock enters its third day on the public market. The stock ended its second day of trading at $69.01, below its IPO price of $72 in an oversubscribed offering. Lyft’s market capitalization now lies below $20 billion after ending its first
Economic and demographic shifts are making life insurance and annuities more attractive options for fixed income, financial advisors say. “In a typical 60/40 portfolio, because bond returns are at a 50-year low, I’m seeing people moving funds from bonds to either life insurance or income annuities as a substitute,” said Tom Hegna, an insurance industry
Death and taxes … you know what the deal is. You can’t avoid either of them. If you have a big tax bill that you can’t pay, life can seem pretty bleak. While the number of tax liens annually filed by the IRS against taxpayers has fallen by more than 50 percent since 2010, there
CNBC’s Jim Cramer said he did not expect Lyft shares to get hit so hard on Monday after their after a positive Friday debut on the stock market. The rideshare app traded as high as $88 a share in its first day, but tumbled nearly 12 percent to settle at $69.01 on Monday. With a
The U.S. Department of Justice charged 50 people last month in a multi-million-dollar scheme that allowed rich parents to cheat the college admissions system. By faking standardized test scores and bribing athletics officials, those parents managed to get their kids into elite schools like Georgetown, Stanford, Yale, and USC. But what if you don’t want
Economic data in the U.S. don’t justify an interest rate cut by the Federal Reserve — despite recent calls for the American central bank to do so, said Mark Zandi, the chief economist at Moody’s Analytics. Top White House economic advisor Larry Kudlow said last week that the U.S. central bank should “immediately” cut interest
Fentanyl issues could derail the prospects of a U.S.-China trade deal if the Chinese government does not crack down on the highly-addictive pain relieve in good faith, CNBC’s Jim Cramer said Monday. “We may eventually get a trade deal, but it won’t be quick, it won’t be easy, and you certainly shouldn’t be buying stocks
Your friends may be hearing wedding bells, while you may be more worried about something else: sky high bills to attend. Spring officially kicks off the start of wedding season. And for some that can cause financial pain — even if you are not the one walking down the aisle. A new survey from personal
You want to make money on your investments and put your money to work to do good in the world at the same time. But you don’t want to get taken for a ride. Enter the new world of sustainability ratings, which allow you to track how well the impact investments stack up when it
The S&P 500 just posted its best start to the year in more than two decades, and according to a majority of Wall Street professionals, the market outlook remains positive. More than 96% of respondents to CNBC’s exclusive “Halftime Report Stock Survey” said they do not see a recession in the next year, with just
At the age of 14, Joshua Haupt woke up in an ambulance. He was supposed to be in school, but he had suffered a seizure at the breakfast table. Later that day, Haupt was diagnosed with epilepsy. That diagnosis eventually led Haupt, now 32, down the path to become an entrepreneur in the cannabis industry.
Stocks skyrocketed to start off 2019 but the rally may lose some steam as the S&P 500 approaches a near-term top, according to J.P. Morgan. Adam Crisafulli, an executive director at the bank, said in a note to clients Monday that the S&P 500 consensus earnings estimate for 2020 ticked down to about $181 to
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