Goldman Sachs Group will detail plans to turn around performance at its core bond-trading unit next month after unusual pressure from large investors frustrated by vague explanations of its troubles, people familiar with the matter told Reuters. The move is a break from tradition at Wall Street’s pre-eminent bank, which usually gives its investors little […]
Read moreIt’s not breaking news to say retailers, especially those with exposure to the shopping mall, have been hurting of late. But CNBC’s Jim Cramer discovered one group that stood out after earnings. “I’m calling it the BTF club — BTF stands for Better Than Feared,” the “Mad Money” host said. “These companies didn’t necessarily report […]
Read moreRising avocado costs might be squeezing Chipotle’s margins, but John Cappasola, the president and CEO of West Coast chain Del Taco, said his Mexican fast-food chain isn’t feeling the heat. “This is actually a structural advantage for us, the fact that we do it fresh in our restaurants,” Cappasola told CNBC on Tuesday in an […]
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With commodity watchers concerned about the fate of Texas’ oil refineries after Hurricane Harvey, CNBC’s Jim Cramer wanted to nail down the condition of oil itself. So the “Mad Money” host went off the charts with technician Carley Garner, the co-founder of DeCarley Trading and Cramer’s colleague at RealMoney.com with a nearly spotless track record […]
Read moreAs news continues to emerge from Texas after Hurricane Harvey, CNBC’s Jim Cramer noticed investors shifting their focus to several other stock market themes. “First feature of the new normal? America’s not the world’s policeman anymore,” the “Mad Money” host said. “Sure, an attack on Japan is like an attack on us. But if North […]
Read moreAmazon made steep discounts — by as much as 43% – at Whole Foods on Monday, sending shockwaves across the grocery retail space. But a closer look at a broader set of products suggest the discounts are still modest, according to Gordon Haskett analyst Charles Grom. Grom wrote in a note published Tuesday that the […]
Read moreBerkshire Hathaway made good on its plan to convert warrants into 700 million shares of Bank of America common stock, the bank announced on Tuesday. Warren Buffett’s conglomerate held the warrants since a deal in 2011, when he invested $5 billion in preferred shares of Bank of America, which at the time was struggling with […]
Read moreThe Justice Department is in the early stages of examining Uber’s business for alleged violations of U.S. foreign bribery laws, unnamed sources told The Wall Street Journal in a report published on Tuesday. Uber confirmed to CNBC it is cooperating with the Justice Department on a preliminary probe, but did not specify the nature of […]
Read moreIn private and sometimes in public, Travis Kalanick was fond of describing Uber, the car-hailing service he co-founded and commanded absolutely, as the Amazon of the transportation business. The similarities were clear. Amazon began as an online bookstore, but it was never just about selling books; over two decades, Amazon’s founder, Jeff Bezos, methodically expanded […]
Read moreHealth insurer Aetna has hired Ben Wanamaker from Wal-Mart’s health division to lead its joint venture with Apple, according to sources familiar with the matter. At Wal-Mart, Wanamaker’s role involved leading business development and strategy for the company’s health, wellness and e-commerce businesses, with a focus on partnerships. Wanamaker’s LinkedIn page still lists Wanamaker as […]
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