Qualcomm said Tuesday that it expects to earn much more money in the coming fiscal year than Wall Street has projected, and urged shareholders to resist the hostile takeover bid from rival Broadcom. The chipmaker said it expects between $6.75 and $7.50 earnings per share on revenue of $35 billion to $37 billion, substantially higher […]
Read moreU.S. Senate Democrats said on Tuesday they had the backing of 50 members of the 100-person chamber to overturn the U.S. Federal Communications Commissions reversal of landmark Obama administration net neutrality rules, but still faced an uphill battle. Senator Ed Markey said in a statement all 49 Democrats backed the repeal. Earlier this month, Republican […]
Read moreGeneral Electric may be looking at splitting itself up after poor shareholder returns in the past year. The company is aiming to announce a decision on a breakup as early as this spring, sources tell CNBC’s David Faber. A split is likely, the sources told Faber. General Electric said Tuesday after a review of its […]
Read moreFormer Wells Fargo Chairman and CEO Dick Kovacevich told CNBC on Tuesday that he believes bitcoin is a scam. “I think it’s a pyramid scheme. It makes no sense. I’m just surprised it isn’t even lower,” he said on “Squawk on the Street.” Kovacevich joins a growing list of bankers who have denounced the crytopcurrency […]
Read moreFormer Wells Fargo Chairman and CEO Dick Kovacevich told CNBC on Tuesday that he believes bitcoin is a scam. “I think it’s a pyramid scheme. It makes no sense. I’m just surprised it isn’t even lower,” he said on “Squawk on the Street.” Bitcoin tumbled to a six-week low early Tuesday, falling below $12,000 for […]
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A new app from Google attempts to accurately match your face to one in a famous painting, and it’s getting a lot of attention. The Google Arts & Culture app went viral over the weekend as people discovered the funny results it can provide. Some are accurate while others aren’t so much. Here’s show you […]
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Komal Sri-Kumar, whose economic consultancy advises multinational firms and sovereign wealth funds, believes a stock market reckoning is coming. “I think it is a bubble,” the founder of Sri-Kumar Global Strategies told CNBC on Tuesday before the Dow Jones industrial average broke through 26,000 and the S&P 500 eclipsed 2,800 on the open, continuing the […]
Read moreA possible trade war between China and the U.S. represents the biggest risk to the stock market’s record rally, CNBC’s Jim Cramer said Tuesday. Cramer was commenting on a Wall Street Journal report published Tuesday that looked at the potential consequences of a U.S.-China trade war. The report also said global markets seemed unprepared for […]
Read moreQualcomm is likely to make aggressive moves to keep shareholders happy in the next two quarters while the company faces a possible hostile takeover attempt from Broadcom, research firm Nomura said Tuesday. The firm upgraded Qualcomm to a buy rating and rose its target price to $75 from $58. “We believe Qualcomm leadership is very […]
Read moreProfessional investors are going all-in on the raging bull market, reducing cash allocations to the lowest level in five years and putting the most money in stocks in two years. As the market looks to continue its best-ever start to a year, respondents to the January Bank of America Merrill Lynch Fund Manager Survey are […]
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