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Online stores fight Amazon for piece of retail pie
Amazon.com's low prices, and apparent disregard for profits, make the site a steal for consumers ... but it's made competing very difficult for many online stores.
What's got Alan Greenspan talking up gold
Alan Greenspan says gold is now a good investment, according to the Wall Street Journal. CNBC's Patti Domm explains why the former Fed Chair might be interested in the precious metal.
Citi revises Q3 net lower by $600M amid legal woes
The third-biggest U.S. bank by assets downwardly revised its third-quarter earnings, citing 'rapidly-evolving regulatory inquiries and investigations.'
Starbucks under pressure as key metric misses views
The U.S.-dominated Americas region contributes the majority of Starbucks revenue. "We grew traffic, but it was at a bit of slower clip," Troy Alstead, Starbucks' chief operating officer, told Reuters. Free coffee giveaways and other battles for breakfast customers were not to blame for Starbucks' traffic deceleration, Chief Executive Officer Howard Schultz said on a call with analysts. "This is not a Starbucks issue.
LinkedIn shares swing as Q4 outlook misses estimates
LinkedIn reported earnings that were ahead...
GoPro sees strong holiday quarter sales; shares jump
GoPro's shares, which went public in June, shot up 14 percent in extended trading on Thursday after the company also reported strong third-quarter results. YouTube videos such as "Run Walter, RUN!!", "Waltz On The Walls of City Hall" and "Golf Trick Shot" have gone viral, helping GoPro's cameras gain popularity beyond sports and outdoor enthusiasts. "The social media side of the business had great metrics, with YouTube content up 92 percent year-over-year (in the third quarter) and YouTube views up 99 percent," Wedbush Securities analyst Michael Pachter told Reuters. "We anticipate particular strength in our direct channel both with our big box and midmarket customers," Chief Financial Officer Jack Lazar said on a conference call.
Would Disney spin off Disneyland? Corporate breakup talk...
The suggestion that Disney spin off its theme parks says more about the lengths investment pros are now going to promote financial engineering feats than about any shortcoming of Disney itself.
These countries are getting killed by cheap oil prices
The price is not right for many oil rich nations. Oil is selling for roughly $83 a barrel on the global market. That's bad news for Iran, Nigeria, Venezuela, Russia, and Saudi Arabia, among others.
Is Inequality Really the Problem We Think It Is?
It’s difficult for many to stomach the fact that an enormous share of income in the United States goes to a very small portion of the population, while the majority of the population is left to share, by some measures, less than half of the nation’s wealth.
Wal-Mart to close 30 underperforming stores in Japan,...
Wal-Mart said the 30 stores operate under the Seiyu brand, and the closure is part of a revamp that will include remodels and other investments. The closures represent 7 percent of Wal-Mart's 434 stores in Japan. Wal-Mart first invested in Seiyu in 2002 and took full control of the company in 2008 with the aim of employing its low-cost model to win share from entrenched rivals like Aeon Co and Seven & i Holdings Co (3382.T). Walmart spokesman Randy Hargrove said that overall the company's Japan operations were performing well, with sales and profits expected to grow for a sixth consecutive year in 2014.
Gold, silver tumble on strong U.S. growth data, Fed view
By Frank Tang and Jan Harvey NEW YORK/LONDON (Reuters) - Gold dipped below $1,200 an ounce on Thursday and silver plunged 4 percent to its lowest since March 2010, a day after the U.S. Federal Reserve ...
How Much Income Puts You in the 1 Percent if You're 30,...
If you're 31 or younger, that figure puts you ahead of 99 percent of your age group. To determine what salary you'd have to earn at every age to stay in the top percentile—or even in the top 0.1 percent—here's your at-a-glance chart, from data shared by Fatih Guvenen and Greg Kaplan with The Atlantic.
Google's data play to go head-to-head with Realtors
Through its investment in Auction.com, Google will be able to forecast home sales for the month ahead.
Wall St. up on GDP, earnings; fund year-end lifts winners
Analysts cited mutual funds purchases of the best performing stocks for the run in those sectors, as funds close their books for the year at the end of this month. "End of year for mutual funds is most likely going to be selling losers and continue to buy winners," said Art Hogan, chief market strategist at Wunderlich Securities in New York. Adding to support from earnings and economic data, market participants cited a report from the Nikkei newspaper that confirmed expectations that Japan's Government Pension Investment Fund, considered a bellwether for other Japanese institutional investors, will cut holdings of Japanese bonds and add to local and foreign equities. The Dow Jones industrial average (.DJI) rose 221.11 points, or 1.3 percent, to 17,195.42, the S&P 500 (.SPX) gained 12.35 points, or 0.62 percent, to 1,994.65 and the Nasdaq Composite (.IXIC) added 16.91 points, or 0.37 percent, to 4,566.14.
U.S. regulator to Takata: Give us faulty air-bag documents
The National Highway Traffic Safety Administration sent a special order to the supplier's American unit, TK Holdings Inc, ordering delivery of the documents by Dec. 1. Takata spokesman Alby Berman said on Thursday the company "is cooperating fully with NHTSA and is working to meet their requests." For the past 18 months, Takata has been besieged by chronic, widespread problems with defective inflators in its air bags, which can explode with excessive force and spray metal shards into vehicle occupants. In June, NHTSA launched its probe of whether Takata air bag inflators made from 2000 to 2007 were properly sealed or subject to other defects.
Western Union beats as more people use Web, mobile money...
Revenue at the company's digital business, which includes westernunion.com and mobile money transfer, jumped 21 percent in the third quarter, accounting for nearly 6 percent of total revenue. Western Union has cut prices and invested heavily in its online and mobile businesses to better compete with fast-growing rivals such as MoneyGram International Inc (MGI.O), Xoom Corp (XOOM.O) and privately owned Boom Financial Inc. "Our previous pricing and other strategic actions in Europe and in Russia have helped drive good results," Chief Executive Hikmet Ersek said on a post-earnings conference call. Growth in transactions in Europe and Russia, which account for more than a fifth of Western Union's total revenue, rose 10 percent during the quarter.
Hiring business drives LinkedIn's revenue beat
The company's hiring business has been thriving as employers find its services more helpful in assessing a candidate's suitability for a role. Strong growth in the hiring business and rapid expansion in international markets such as China are considered by analysts to be the main growth drivers for the company in the next few quarters. "In third-quarter, about 75 percent of new members came to LinkedIn from outside the U.S., with China providing particular strength," Chief Executive Jeff Weiner said. "China has become the second-largest contributor to new sign-ups on a daily basis, after only the United States," Weiner said on a conference call with analysts.
Conoco sees third-quarter profit rise, 2015 capex seen lower
Crude oil prices have tumbled more than 20 percent in recent weeks as global demand slows and supplies rise. Conoco expects to spend less than $16 billion next year, down from the $16.7 billion projected for 2014, Ryan Lance, the chief executive officer, told investors on a conference call to discuss earnings. Over the last several years, Conoco has shed lower-margin assets, directing more capital to projects like shale drilling in Eagle Ford area in south Texas and the Bakken formation in North Dakota that offer higher returns and faster production growth. Conoco will continue to invest near current levels in Eagle Ford and Bakken, but has the flexibility to pare spending in exploration and on less-developed fields in such places as the Permian Basin in West Texas and western Canada, it said.
Trade, defense buoy U.S. economy, but some weakness...
A smaller trade deficit and surge in defense spending buoyed U.S. Gross domestic product grew at a 3.5 percent annual pace, the Commerce Department said on Thursday. Despite decelerating from the second quarter's robust 4.6 percent growth rate, it was the fourth quarter out of five that the economy has expanded at or above a 3.5 percent clip.
Efforts to replace Fed hawks Plosser, Fisher pick up speed
The Philadelphia Fed said on Thursday it had hired executive search firm Korn Ferry to find a successor to Plosser, 66, who will retire on March 1 after more than eight years at the helm. A committee of Philadelphia Fed directors working with Korn Ferry will consider "a diverse group of candidates from inside and outside" the Fed, it said.
Raymond James reports strongest recruiting year since 2009
Brokerage and investment bank Raymond James Financial Inc just completed its best broker recruiting year since 2009, the firm reported on Thursday. The firm added a net of 68 U.S.-based advisers in the fiscal year ending Sept 30, 2013, bringing the total to 6,265 advisers. Actual recruitment was far higher, but many new hires were offset by brokers retiring and moving to other firms, said Paul Shoukry, Raymond James' vice president of finance and investor relations. In 2009, Raymond James reported its U.S.-based sales force rose by 300 advisers to a net total of 4,781 financial advisers from the year before.
5 reasons the Fed may not raise rates in 2015
Ron Insana has five reasons the Federal Reserve may keep rates low even longer than most market watchers care to admit.
Apple CEO Tim Cook says he is 'proud to be gay'
Apple CEO Tim Cook announced he was “proud to be gay” on Thursday, becoming the first leader of a major company to come out publicly.
Apple's Cook: 'I'm proud to be gay'
The 53-year-old Alabama native and self-described "son of the South", who has spoken out against discrimination of lesbian, gay, bisexual and transgender (LGBT) people, declared his sexual orientation in a magazine editorial, confirming a fact widely known in the close-knit Silicon Valley tech community but rarely discussed. Cook's announcement comes as gay marriage is becoming widespread, but the nation remains divided over gay rights.
Weak inflation figures hit euro zone, but not expected to...
Weak price pressure in Germany and Spain compounded the European Central Bank's policy headache on Thursday but it is still expected to hold off action next week, waiting to assess the impact of its new round of stimulus. Brighter euro zone economic sentiment and expectations for a rise in corporate loan demand in the coming quarter offset the bleak inflation readings and gave the ECB some grounds to hold off at least another month before taking any possible further action. This, along with the ECB's commitment to an expansionary policy with further measures if needed, is keeping downward pressure on the euro, which should in turn support the euro zone economy. In a sign that support may be beginning to take hold, euro zone economic sentiment unexpectedly rose in October, picking up from a near one-year low in September.
JPMorgan tops pay table with $740,000 for London bankers:...
U.S. bank J.P. Morgan pays managing directors at its investment bank in London an average of 461,000 pounds , substantially more than pay across its rivals, according to a survey. Emolument, a website ...
U.S. jobless claims rise, but underlying labor market...
The number of Americans filing new claims for unemployment benefits rose for a second straight week last week, but remained at levels consistent with a firming labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 287,000 for the week ended Oct. 25, the Labor Department said on Thursday. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 250 to 281,000. Claims at these levels indicate a strengthening in labor market conditions.
Why Oil Prices Went Down So Far So Fast
The reasons oil prices started sliding in June were hiding in plain sight: growth in U.S. After three-and-a-half months of slow decline, the tipping point for a steeper drop came on Oct. 1, said Ray Carbone, president of broker Paramount Options Inc. That's when Saudi Arabia cut prices for its biggest customers.
Investors ride the third quarter revenue train
Revenue growth accompanied by profit growth is making the third quarter of 2014 a quality quarter.
MasterCard profit beats driven by international business
China's decision to open up its $1 trillion a year domestic bank card market to foreign companies should further benefit the company and its larger rival Visa Inc (V.N). "We are pleased with the announcement and see it as a good step in the right direction," MasterCard Chief Executive Ajay Banga said on a post-earnings conference call. MasterCard's shares were up 7 percent at $81.25 in midday trading. Visa was up 8.7 percent, the biggest gainer on the Dow Jones Industrial Average (.DJI) on Thursday.
Time Warner Cable loses more video customers in latest...
Time Warner Cable lost a net 184,000 household video customers in the three months ended Sept. 30, far more than the 136,000 that market research firm StreetAccount had estimated. The company, which is being acquired by market leader Comcast Corp (CMCSA.O) for $45.3 billion, lost a net 152,000 customers in the April-June quarter. As of Sept. 30, Time Warner Cable had 10.8 million household video subscribers, down from 11.4 million a year earlier. Time Warner Cable's shares closed at $143.75 on the New York Stock Exchange on Wednesday.
Asia stocks will rally into year-end: Goldman
Asia stock markets may have taken the recent rout on the chin, but that's left them well-poised for a solid year-end rally, Goldman Sachs said.
Solid third-quarter US economic growth is expected
It's taken years, but the U.S. economy may finally be reaching a sustainable cruising speed. Many economists predict that overall growth, as measured by the gross domestic product, reached a healthy 3 ...
Euro zone sentiment unexpectedly improves in October
Euro zone economic sentiment unexpectedly rose in October, picking up from a near one-year low in September, in an indication that the bloc's struggling economy may be slowly improving. Data from the European Commission showed that economic sentiment in the 18 countries sharing the euro, rose to 100.7 in October from 99.9 in September.
Visa: Outlook cautious on Ebola, other headwinds
The world's largest credit and debit card company reported quarterly earnings of $2.18 share, ex-items, topping expectations for $2.10 per share.
Samsung Q3 profits tumble amid mobile woes
A Galaxy of Problems: Samsung's third-quarter profits dropped sharply as its mobile unit continued shrinking.
Sheila Bair: Thick cushion = more resilient system
Sheila Bair, Pew Charitable Trusts and former FDIC chair, provides insight into bond buying and the general state of banks.
Goldman's Hatzius: Rate hike (still) coming September 2015
Goldman Sachs chief economist Jan Hatzius says Wednesday's Fed statement was slightly on the bearish side, but he still thinks the central bank will hike rates next fall.
Calls for $100-a-barrel oil show many betting on rebound
Oil prices have plunged recently, but many investors are betting the slowdown in demand will prove short-lived.
Report: Two key Twitter execs plan to depart
Two respected managers at Twitter plan to resign, CNBC has learned.