Wall Street’s relative disappointment with PayPal’s fourth-quarter earnings report — with the exception of the almost-profitable Venmo — may have stemmed from the company’s forward guidance, CFO John Rainey told CNBC on Thursday. In an exclusive “Mad Money” interview after PayPal’s report, Rainey emphasized that management was “really pleased” with the fourth-quarter results, highlighting the
Month: January 2019
After December’s surprise surge in hiring, economists expect January’s payrolls may have grown by just about 165,000, and there’s a chance that may even be too high. In December, 312,000 payrolls were created and the unemployment rate was 3.9 percent. According to Reuters, the unemployment rate is expected to hold at 3.9 percent and average
Super-wealthy investors are making some changes to their portfolios for 2019. They are increasing their cash holdings and reducing their equity exposure. They are also cutting back on some of their real estate investments and finding a “short-term solution” in fixed income, according to Michael Sonnenfeldt, founder of investment club Tiger 21. “There’s a lot
A $1 million settlement for a company with annual revenues of $270 million is not usually enough to bat an eyelash, except when it has to do with North Korea. The U.S. Office of Foreign Assets Control says e.l.f. Beauty imported 156 shipments of false eyelash kits, valued at $4.43 million, from two suppliers located
HumanityPexels.com The next big tech trend is humanity, was a big theme coming out of the World Government Summit in Dubai in February 2018, delivered by an all-star cast including Narendra Modi, Christine Lagard, Malcolm Gladwell and will.i.am. I found it very refreshing despite being the only “adult supervision” on a cryptocurrency panel talking about
The U.S. Department of Veterans Affairs (VA) grew its national integrated virtual 3D printing network from three hospitals in early 2017 to 20 at the close of 2018. The expanding network, which started at VA’s Puget Sound Health Care System, allows VA health care staff to share ideas, solve problems and pool resources on best practice uses of
The energy trade is burning up. The energy ETF (XLE) just posted its biggest monthly gain since 2015, buoyed by oil’s bestJanuary since 1983. Frank Cappelleri, chief market technician at Instinet, said that kind of advance could fuel an even bigger crude rally which may spill over into energy stocks. “Crude oil is up about
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
The Standish, a former hotel that has been redeveloped into condos, is the new home for actors Matt Damon, Emily Blunt and John Krasinski.StreetEasy Real estate in the historic New York City neighborhood of Brooklyn Heights is so hot you could warm up from the bitter cold weather just by reading about it. Among the celebrities
Amazon is reporting its all-important fourth-quarter earnings on Thursday after the bell. The fourth-quarter is typically the largest for Amazon because it includes the holiday shopping season. Investors remain bullish on the quarter, but will be paying close attention to the top line, as revenue fell short of expectations in the last two quarters. Here’s
An Arizona legislator has proposed a way to fund a border wall: Charge internet users a tax for viewing pornography. Earlier this month, Arizona Republican state senator Gail Griffin proposed HB 2444. The legislation would require manufacturers and distributors of internet-connected devices to block people in the state from viewing adult content — unless those
It’s a Catch-22: You want to make progress on paying off your debt but, in order to do so, you take out yet another loan. A new study from online lending company LendingTree finds that people are using personal loans to do exactly that: manage existing debt. That comes as outstanding personal loans have reached
Your imagination could be a key to boosting your retirement savings. A hidden experiment included in recent research suggests that workers could be motivated to save more if they picture their future self, rather than only focusing on the dollars and cents involved. The research, conducted by investment manager Capital Group, involved a survey of
Goldman Sachs is being accused of bilking a corporate client who hired the investment bank to advise it on a $2.9 billion takeover last year. The bank put its own financial interests ahead of client United Natural Foods, resulting in about $200 million in unearned fees or interest paid in the deal, the food-delivery company
Netflix‘s recent price hike might fuel growth among a different group of viewers: password borrowers. The streaming giant recently announced an upcoming price increase of 13 percent to 18 percent. The fee hike will raise the cost of the cheapest plan to $9, up from $8. The company’s HD standard plan will cost $13, up
It’s shaping up to be a milestone month for stocks. The S&P 500 is on track to see its best January performance in 30 years, and long-time bull Jim Paulsen believes there’s no reason to second-guess the rally. He points to a contrarian indicator: pessimism — a factor that’s still playing a major role on
The last two times Amazon has reported quarterly results, revenue has fallen short of expectations. Now investors are facing the prospects of slowing growth at the e-commerce giant. Amazon is slated to announce fourth-quarter earnings after the bell on Thursday. Analysts surveyed by Refinitiv expect the company to report revenue growth of 18.8 percent from
Celgene, which is being bought by Bristol-Myers Squibb, reported a better-than-expected fourth-quarter profit on Thursday, driven mainly by higher sales of psoriasis drug Otezla. Bristol-Myers agreed to buy Celgene for about $74 billion earlier this month, a deal that will expand its pipeline of cancer drugs as the company goes head-to-head against rival Merck &
As the problem of housing affordability worsens across the country, higher-density development such as townhomes can open the door for many prospective home buyers.Lexington Homes The nation’s housing affordability crisis might very well come to a head this year with Not In My Backyard proponents facing off against the foot soldiers of the Yes In
Despite the scandals and controversies, Facebook analysts agree on one thing: the social media giant keeps growing with no sign of slowing down. Analysts also agree that by all metrics, the company exceeded expectations posting strong fourth quarter numbers after the bell on Wednesday. Analysts pointed out that advertisers continue to spend money on the
Altria on Thursday reported quarterly earnings and revenue that were mostly in line with analysts’ expectations. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: 95 cents, adjusted, vs. 95 cents expected Revenue: $4.79 billion, excluding excise taxes, vs. $4.81 billion
Alibaba shares soared after the company reported market-beating earnings in the three months ended December, with investors content with a record amount of spending by the company in the 2018 calendar year, hoping that it will spur future growth. The Chinese e-commerce giant posted its slowest revenue growth since 2016 in its fiscal third quarter,
Real estate management companies that want to distinguish themselves should be looking at IRS Notice 2019-07 That is the main lesson of today’s post, but it also applies to tax preparers and self-sufficient owners. There is something new to keep track of and it is a lot easier if you do it as you go
Home flipping has increased over 63% in Raleigh, North CarolinaGetty Here’s the latest news on flipping homes for quick profits. The heady days of the home flippers in major cities are winding down as market fundamentals flip themselves. During real estate’s halcyon days flippers seem just to appear. These include long time and experienced developers,
Credit: Getty Royalty FreeGetty Time was that the home office deduction was a nice way to whittle down your tax bill, thanks to your side hustle. Not anymore, as taxpayers filling out their 2018 returns are learning. The Tax Cuts and Jobs Act, which starts for tax year 2018, decrees that you no longer can
Federal Reserve Chairman Jerome Powell made the right choice in leaving interest rates unchanged and preaching patience — and it shouldn’t be seen as him “caving” to Wall Street, says CNBC’s Jim Cramer. “Don’t listen to the Fed watchers who claim that Powell caved to the stock market or the president,” Cramer said Wednesday after
The Federal Reserve is continuing to change its tune as officials react to the whims of the stock markets, veteran trader Art Cashin told CNBC on Wednesday. “It’s pretty obvious,” he said on “Closing Bell.” “The fact that you look two or three meetings ago, it’s a completely different Fed and that’s … a reaction
Check out the companies making headlines after the bell: Shares of Facebook surged as much as 10 percent after hours on Wednesday. The social media titan posted better-than-expected earnings, beating on the top and bottom lines. The company earned $16.91 billion in revenue, which beat Wall Street’s estimates of $16.39 billion. Earnings per share were
Cancer experts and others in the United States and abroad were less than enthusiastic about a team of Israeli scientists’ statements that it would cure cancer in the coming year. In fact, some were outright incensed by the claims. Yet even so, many non-experts refused to give up hope. And the company itself stood up
One of Apple‘s biggest dilemmas is that iPhone sales, the company’s bread and butter, are shrinking as the replacement cycle becomes lengthier. But Toni Sacconaghi, a top Apple analyst on Wall Street, told CNBC on Wednesday that his firm would upgrade the stock if the company could create a subscription plan for its consumer products
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