If not for the plunge in Apple’s stock on Thursday, Wall Street would’ve been laser-focused on the monumental tie-up between biotechnology giants Bristol-Myers Squibb and Celgene, CNBC’s Jim Cramer said. “If not for the Apple shortfall today — worst in 6 years, by the way — this Bristol-Myers-Celgene deal would’ve been all we talked about,”
Month: January 2019
Check out the companies making headlines before the bell: Apple – Apple issued a rare sales warning after Wednesday’s closing bell, with CEO Tim Cook pointing to slowing iPhone sales in China. Cook reportedly is set to address Apple employees today about the warning and take questions from workers. Celgene – The drugmaker agreed to
In the past few years, the public perception of blockchain has shifted from being an esoteric, little-understood technology to nothing short of a revolution that may define the future of the internet. We have been seeing massive venture capital being pumped into blockchain startups for a while now and blockchain based startups are now finding
––––––––––––––––––––––––––––––––– Cameras, flashlights, tweets – when Changpeng Zhao takes the stage these days, a kind of mania seems to ensue. Of course, that’s perhaps to be expected when you’re known to the world over by just two letters, but “CZ” has arguably achieved something greater in 2018 — a celebrity status that’s equaled by his
Forbes Media Library No other economic report gets more attention, is more closely watched, analyzed, dismissed, cited as a barometer or has a bigger impact on mortgage interest rates than the Employment Report. I have been in front of a TV at 8:30 in the morning on the first Friday of almost every month for
Mortgage interest rates fell to the lowest level in four months, but that did nothing to spark activity in the mortgage market. Total mortgage application volume dropped 9.8 percent at the end of last week from two weeks earlier, according to the Mortgage Bankers Association’s seasonally adjusted index. The results included an adjustment for the
Bitcoin (BTC) could test a key resistance line for the first time in nearly two months. The widely followed 50-day simple moving average (SMA) line is currently located at $3,940 – $100 above bitcoin’s current price of $3,840 – according to Bitstamp data. The crucial SMA line was last put to test on Nov. 8.
Wells Fargo promoted Charles Peck to head of public finance, almost a month after firing Stratford Shields from the post. Peck, who joined Wells in 2018, was previously managing director, head of the West and Midwest public finance regions. He will be relocating to New York and will report to Marty Bingham, who has headed
Apple slashed its revenue forecast on Wednesday amid trade tensions between the U.S. and China, but it’s not the first company to signal trade impacts. In a letter to investors, Apple CEO Tim Cook said the company saw lower-than-expected sales primarily in China. Cook told CNBC’s Josh Lipton that the trade dispute with the U.S.
Check out the companies making headlines before the bell: Activision Blizzard – The video game producer is firing Chief Financial Officer Spencer Neumann for cause “unrelated to the company’s financial reporting,” according to a Securities and Exchange Commission (SEC) filing. The Wall Street Journal reports that Neumann will be named as the new Netflix CFO
Exhale. The nightmare of the 2018 cryptocurrency market is finally over. Of course, more downside is always possible, if not likely, but at least the year in which bitcoin prices dropped more than 80 percent and the broarder market lost nearly $700 billion of total capitalization is over. By now, you’re probably well aware the
Share to facebook Share to twitter Share to linkedin The most expensive sale of 2018 for Greenwich, CT was this Georgian mansionSotheby’s International Realty A home that had originally come on the market for $35 million over two years ago sold at the tail end of 2018 for $17.5 million, making it the highest priced
Asking prices for homes are finally coming down as sellers face the new reality: interest rates are higher than they were a year ago, and potential buyers are now worried about the economy. It’s beginning to look more like a buyer’s market, according to a new report. Home prices, while still higher than a year
Bitcoin (BTC) chalked up its longest monthly losing streak in seven years in December. The leading cryptocurrency by market value closed at $3,689 on Dec. 31, representing a 13 percent drop from the monthly opening price of $4,241. That was the fifth straight monthly loss – its worst period since November 2011 – according to
CHICAGO — The dispute over a Missouri county’s obligation to cover debt service shortfalls on bonds issued for a struggling retail complex may be headed to mediation. UMB Bank, the trustee for $32 million of bonds supported by Platte County’s appropriation pledge, told investors on a recent call that it “had proposed in writing to
Buy the S&P 500 at the close every day and sell it at the next open. Sounds wacky? You could have outperformed the market by 20 percent. According to Bespoke Investment Group, if one had implemented this so-called after hours strategy every day in 2018, it could’ve posted a 13.3 percent return. “This has really
Worried about a down year in 2019? It’s statistically unlikely. 2018 is ending on a downer, with the S&P 500 down six percent (down four percent when dividends are included) for its first real down year since 2008 (the S&P was down 0.7 percent in 2015 on a price basis, but on a total return
There’s a good chance that what ailed the market in 2018 could reverse sometime in 2019, providing strong tailwinds for stocks, some strategists said. After the worst December since 1931 and the worst year since the financial crisis, stocks enter 2019 tentatively but still susceptible to the volatility that resulted in historic intraday swings in
––––––––––––––––––––––––––––––––– A former academic, Elizabeth Stark likes to play devil’s advocate. Take, for instance, her appearance at the Crypto Springs conference in October 2018. It’s a sunny morning in Palm Springs, California, and a handful of attendees are lounging by the pool; onstage, however, Stark is busy describing some of the darker potential scenarios for
Playa Vista Isle set price records for a house selling at auction in the U.S.Concierge Auctions One of America’s most talked about homes has finally closed the latest chapter of its selling history. Playa Vista Isle, previously known as Le Palais Royal , was a two-parcel listing asking as high as $159 million. After no buyers came forward, it eventually
As the muni market continues to end the year on a strong note, market participants were wondering about what to watch out for in 2019. One Mid-Atlantic trader said he expects 2019 to bring more regulation, resulting in less liquidity and more desk closures. “I think there will be more regulatory emphasis on [exchange-traded products],
Everything was going right for the stock market until Oct. 3rd. Then everything went wrong. Up to that point, the Dow Jones Industrial Average had been up about 8 percent for the year — a solid gain if not quite as gaudy as the year before. More importantly, the fundamental backdrop was solid: The economy
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