Finance

Check out the companies making headlines after the bell: Shares of Facebook plummeted more than 20 percent in after-hours trading. The social media giant reported mixed second-quarter results on Wednesday. It beat on earnings, posting $1.74 per share versus the $1.72 that was expected. But Facebook missed on revenue, generating $13.23 billion versus $13.36 billion
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Patrick T. Fallon | Bloomberg | Getty Images Steve Mollenkopf, chief executive officer of Qualcomm Inc., holds the new Snapdragon 835 chip during a keynote at the 2017 Consumer Electronics Show (CES) in Las Vegas, Nevada. Qualcomm executives no longer expect the Chinese government to approve its deal for semiconductor manufacturer NXP, and CEO Steve
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Tesla shares will rise as the electric car maker significantly ramps up its deliveries in the September quarter, according to Nomura Instinet. The firm reiterated its buy rating for Tesla shares, predicting the company will report third-quarter sales results above expectations. “We expect improving fundamentals in Q3, consisting of a step-function up in revenue growth
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The battle between Pepsi and Coke continues, and this time PepsiCo is winning. The iconic food company announced Tuesday that, starting Sept. 1, PepsiCo would become the exclusive nonalcoholic beverage and snack partner across all Madison Square Garden Company properties. The deal upends a contract MSG held with Coca-Cola dating back to 1910. Scott Rothbort,
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Leon Cooperman, chairman and CEO of Omega Advisors, loves Google-parent Alphabet as an investment. Alphabet “is my biggest position,” Cooperman said Tuesday on CNBC’s “Halftime Report.” The company’s “growth is very impressive relative to the valuation … It is very reasonably priced. Fortress balance sheet, dominant industry position, growing very rapidly.” The investor said Alphabet
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Zachary Karabell is concerned there’s too much fear on Wall Street, based on one particular question from his clients. “It’s ‘why aren’t the markets going down because there is so much negative news,'” the River Twice Capital president told CNBC’s “Trading Nation” on Friday. Karabell said it’s the most disconcerting question he’s getting, especially since
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President Donald Trump is worried the Federal Reserve will raise interest rates two more times this year, a White House official told CNBC. Aides to the president, however, are telling Trump the central bank is conducting policy properly. Their message from Treasury Secretary Steven Mnuchin and National Economic Council Director Larry Kudlow is “the Fed
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Daniel Kalt appears in a private client meeting room at a branch of UBS, overlooking Lake Zurich. The Swiss bank’s regional chief economist and chief investment officer turns to look at me. I recognize his chiseled features, his slight smile and short hair, turning grey at the sides. But something is not right. Mr. Kalt
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The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Weight Watchers Brian Kelly was a buyer of SPDR Gold Shares Dan Nathan was a buyer of Target Guy Adami was a buyer of IBM Trader disclosure: On July 19, 2018 the following stocks and commodities mentioned
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Fed officials, including Chairman Jerome Powell, have raised interest rates twice this year and have pointed to two more before the end of 2018. The Fed did not comment on the president’s remarks Thursday. After Trump’s criticism of the central bank aired on Thursday, the White House sent a statement to clarify the president’s remarks.
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The White House clarified statements made by President Donald Trump to CNBC about the Federal Reserve and its decision to raise interest rates this year. In a statement to CNBC, the White House said: “Of course the President respects the independence of the Fed. As he said he considers the Federal Reserve Board Chair Jerome
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Hong Kong, long a global leader in banking and finance, is bracing for the arrival of so-called virtual banks — financial institutions without physical branches where all transactions are online. Authorities are keen to raise Hong Kong’s game in financial technology, or “fintech,” part of broader ambitions to turn the semi-autonomous Chinese territory into a
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Blockchain and cryptocurrency may one day be “as broadly adopted as the internet is today,” Jeremy Allaire, CEO and co-founder of fintech company Circle, told CNBC. “It’s a really fertile space in terms of the fundamental, technical and infrastructure,” Allaire said on “Fast Money” Wednesday. One major driver for this possible occurrence: ethereum. “Right now
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Morgan Stanley crushed profit expectations on trading and investment banking results that exceeded analysts’ expectations. The company said profit surged 39 percent to $2.44 billion in the second quarter from a year earlier, exceeding the $2 billion estimate of analysts surveyed by Thomson Reuters. Earnings per share of $1.30 exceeded the $1.11 estimate. Revenues climbed
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Europeans are flouting the trading clout they have. They, for example, don’t want to reduce their 10 percent import tax on U.S. automobiles to the 2 percent the U.S. charges on EU-originating motor vehicles. Put very briefly, Trump is wasting time trying to change the existing trans-Atlantic trading regime. He should simply tell the German
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