Cisco CEO Chuck Robbins said he’s “optimistic” about tax reform, and said that his company is one of the top five companies that would benefit from its passage. “We see increased M&A. We see investments in innovation, innovation centers. We see the ability to do, obviously, dividends and buybacks as well. So we’ll leverage the […]
Read moreThe world’s largest oil exporter could be poised to back out of a widely anticipated extension to global supply cuts, Chris Weafer, senior partner at Macro-Advisory, said Friday. OPEC members are reportedly forming a consensus with other allied crude exporters to extend their production deal by nine months. That would prolong the agreement among OPEC, […]
Read moreNorth Korea on Friday ruled out negotiations with Washington as long as joint U.S-South Korea military exercises continue, and said that Pyongyang’s atomic weapons program would remain as a deterrent against a U.S. nuclear threat. In an interview with Reuters, Han Tae Song, North Korea’s ambassador to the United Nations in Geneva, brushed off the […]
Read moreSquare’s bitcoin testing adds to the company’s innovative reputation and could spell earnings success down the road, according to one Wall Street analyst. Evercore ISI upgraded shares of Square on Thursday, citing the company’s new lineup of payment technology and rapid revenue growth. “Following our meeting Wednesday with CFO Sarah Friar, we are upgrading Square […]
Read moreIt may not be a comeback. Cisco shares surged to 16-year highs this week, as the ’90s tech darling posted better-than-expected earnings, but one strategist warns the rally is nothing more than a short squeeze. According to Larry McDonald, founder of the Bear Traps Report, short interest ratio in Cisco has tripled since May. “Heading […]
Read moreAgainst the backdrop of sweeping consolidation in the media industry, CBS Chairman and CEO Les Moonves says he is positioning the network as the underdog against “monstrous companies,” including Comcast, Disney, as well as online powerhouses Netflix and Amazon. Mooves spoke at CNBC’s Net/Net event on Thursday evening as word was leaking out that Comcast […]
Read moreU.S. home building jumped to a one-year high in October likely as disruptions caused by recent hurricanes in the South faded and communities in the region started replacing houses damaged by flooding. Housing starts surged 13.7 percent to a seasonally adjusted annual rate of 1.29 million units, the Commerce Department said on Friday. That was […]
Read moreThe House Republican tax bill will place a higher burden on those who earn more than $1 million a year but provide a break to everyone else, Treasury Secretary Steven Mnuchin said Friday. Speaking a day after the GOP-led chamber passed the controversial reform measure, Mnuchin told CNBC that the benefits will go to lower- […]
Read moreIt’s hard to avoid cryptocurrency talk these days. Yet just a few years ago, blockchain was a little-known technology. So for Brad Garlinghouse, CEO of Ripple, leaving behind a career at the likes of AOL and Yahoo was a risky proposition. “For me, joining this industry was a belief that there is something, a movement, […]
Read moreEA has temporarily scrapped a controversial money-making feature in its “Star Wars Battlefront II” video game which was released on Friday, following backlash from fans online. The controversy centered around in-game purchases that allow players to save time by spending real money to make key characters like Luke Skywalker and Darth Vader available to play […]
Read more