Yelp shares rallied more than 18 percent in after-hours trading on Thursday, after announcing it would sell one of its businesses to GrubHub and buy back $200 million worth of shares. Yelp will sell Eat24, an online food ordering business, to GrubHub, the parent company of Seamless and MenuPages. The $287.5 million all-cash deal will […]
Read moreUber was slow to pull recalled cars off the road in Singapore, until one driver was in a car that caught fire, the company said. Unlike most ride-hailing start-ups, Uber’s Singapore operation owned its fleet of thousands of used cars to rent to drivers. Among them were cars from cheaper “gray market” importers, rather than […]
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THE trend seems clear. Spirit Airlines became the most profitable carrier in America at the same time that it was the most complained about. Frontier Airlines cut costs, became a no-frills budget carrier, and went from posting big losses to notching big gains. American, Delta and United scrambled to keep up, slashed comforts and amenities, […]
Read moreSilicon Valley is trying to out-Trump Donald Trump on jobs. Amazon wants to add tens of thousands of employees to its ranks while Google is donating millions of dollars to training. Touting such plans is partly a response to fears that tech will, like trade, be blamed for killing jobs as automation and artificial intelligence […]
Read moreTake-Two’s “Grand Theft Auto V”-driven financial results continue to stun Wall Street. The video game maker’s shares rose as much as 13 percent Thursday to a new all-time high after it reported better than expect fiscal first quarter earnings and guidance Wednesday. It posted sales of $348 million versus the $281 million Wall Street consensus […]
Read moreLast Tuesday Lyft announced a new promotional partnership with Taco Bell that has received harsh criticism from drivers and passengers. The addition of “Taco Mode”—giving passengers the ability to make Taco Bell an intermediate stop on the way to their destination—brings the first-ever “ride-thru” experience into the ride-share market. The program will be optional for […]
Read moreCambria Investment Management’s Meb Faber believes investors should expect pretty lousy returns in the coming years due to pricey equity valuations. CNBC’s Mike Santoli spoke with Faber, who invests globally using a ‘deep’ value investing strategy, in an exclusive interview for CNBC PRO. Santoli asked the ETF manager for his market outlook. “A few years […]
Read moreCambria Investment Management’s Meb Faber shared his views on the market, cryptocurrencies and quantitative investing in an exclusive interview for CNBC PRO with Mike Santoli. On investor behavior: “Chasing and herding is one of the most time tested terrible things that people do …We remember the 90s dotcom (bubble) and then people getting fascinated with […]
Read moreThe family office of Steven Cohen, the billionaire banned from running a hedge fund in the US, has run into a regulatory roadblock in the UK. Point72, which manages about $11bn of Mr Cohen’s personal fortune, has been told in recent months that it would not receive regulatory approval in the UK by the Financial […]
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Apple stock, even trading near a record high, looks far cheaper than the overall stock market. In fact, by one common metric, if Apple were priced just like the S&P 500 index, it would be trading at $187 from its current $156. If it were valued like a tech stock, it would be priced at […]
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