Finance

“Who cares about bitcoin? The world economy is so big,” Dimon said, noting the bank moves about $6 trillion in money around the world every day. In comparison, bitcoin only has a market capitalization of less than $100 billion. Twenty-four hour trading volume in bitcoin-U.S. dollars was $3.7 billion Friday, according to CoinMarketCap. “This is
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Tech behemoths Google and Amazon are poised to put competitive pressure on traditional banks in the small business lending arena, one of former President Barack Obama‘s cabinet members said Tuesday. Karen Mills, who served as Obama’s administrator for small businesses, told CNBC that the tech giants would probably push to disrupt the market and deal
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Check out the companies making headlines after the bell: Herbalife‘s stock rose about 1 percent in extended trading after an SEC filing showed that investor Carl Icahn boosted his stake in the company to 26 percent. In March, he reported a stake of about 24.5 percent. Juniper Networks‘s shares fell more than 2 percent after
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General Motors is “well positioned” as a future mobility leader thanks to its extensive autonomous vehicle research and production, UBS research said. UBS reiterated its buy rating on the company’s shares and raised its price target, citing GM’s leadership in developing automotive technology through its AV unit as well as opportunities in the ride-hailing business.
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BlackRock, the largest asset manager in the world, posted better-than-expected quarterly results on Wednesday. Total assets under management rose 17 percent as net inflows easily beat Wall Street expectations. Here’s how the company’s results compare to Wall Street’s expectations: EPS: $5.92 per share vs $5.56 expected, according to Thomson Reuters Revenue: $3.233 billion vs $3.096
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Macy’s. Karen Finerman was a buyer of American Airlines. Brian Kelly was a buyer of NVIDIA. Guy Adami was a buyer of Cypress Semiconductor. Trader disclosure: On October 9, 2017, the following stocks and commodities mentioned or
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One board seat, one epic battle. In the the culmination of the largest-ever proxy fight, Procter & Gamble will find out Tuesday if shareholders want to give Nelson Peltz a seat on the board of the owner of Bounty and Tide. It’s a fight that has cost millions and at times turned personal, pitting former
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Unstable loans and escalating levels of global debt could plunge the world into another financial crisis, departing German Finance Minister Wolfgang Schaeuble told the Financial Times in an interview published Sunday. “Economists all over the world are concerned about the increased risks arising from the accumulation of more and more liquidity and the growth of
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Alvin Baez | Reuters Haydee Mestre looks inside her refrigerator after Hurricane Maria destroyed the town’s bridge and the surrounding areas, in San Lorenzo, Morovis, Puerto Rico, October 5, 2017. Puerto Rico‘s situation could get worse without Congress’ help, said Raul Maldonado, the island’s Treasury secretary. In a phone interview with CNBC.com, Maldonado said Puerto
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Quadratic Capital Management’s Nancy Davis said the next “big short” is betting against volatility. “I think the challenge has been that we’re in a very, very low-yield, low-return environment,” said Davis, Quadratic’s managing partner and chief investment officer. “So investors have been forced to figure other ways of generating yield in their portfolio, and I
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Andrew Harrer | Bloomberg | Getty Images A man poses for a photo with the Wall Street bull sculpture between Broadway and Exchange Place in the Financial District of New York. Check out the companies making headlines after the bell: Costco shares tumbled nearly 2 percent after hours, despite the company posting higher-than-expected fourth-quarter earnings.
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Dan Morehead, chairman of digital currency exchange Bitstamp, said bitcoin and other digital currencies will likely become assets serious investors will want in their portfolios. “Bitcoin’s essentially going to revolutionize currency, or money,” Morehead said on Wednesday at the Sohn Investment Conference in San Francisco, which was attended by portfolio managers and asset allocators. “If
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