PC and printer maker HP, Inc., on Wednesday said that Meg Whitman has stepped down as chairwoman of the company’s board of directors. Whitman remains CEO of the enteprise-focused HPE. The two companies were created in 2015 from the split of Hewlett Packard. Levi Strauss & Co. CEO Chip Bergh is replacing Whitman on the […]
Read moreIncreased regulatory attention on digital currencies will help them develop into a mature investment product, several analysts said. The U.S. Securities and Exchange Commission signaled late Tuesday that U.S. securities law may apply to initial coin offerings, sales of new digital coins to fundraise for projects based on the same blockchain technology as bitcoin. “As […]
Read moreAmerica’s tech titans are pushing back against President Donald Trump‘s statement on Wednesday that he will block transgender people from serving in the military. Billionaire Facebook CEO Mark Zuckerberg posted one sentence to his personal Facebook page: “Everyone should be able to serve their country — no matter who they are.” Apple CEO Tim Cook […]
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The euro soared against the dollar on Wednesday after the Federal Reserve kept interest rates unchanged and signaled it would take its time raising rates. The common currency hit a 2 1/2 year high against the greenback following the decision as traders increased their bets that economic growth and borrowing costs will increase at a […]
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The midsummer market is a Goldilocks market, but it’s about to head into what can be two of the worst months of the year for stocks and there are plenty of risks to the rally. Robust earnings, a fairly easy Fed, super-low volatility and a global economic recovery are among the many things that look […]
Read moreTreasury Secretary Steven Mnuchin hinted the administration may soon take “a position” on Amazon’s tax collection policy after President Donald Trump blasted the company on the topic last month. Sen. Joe Manchin asked Treasury Secretary about his view on internet state sales taxes at a Senate hearing Wednesday. “So this is an issue that we’ve […]
Read moreWall Street expects Facebook to post a higher quarterly profit, driven by surging sales of mobile video ads, when it releases financial results for the second quarter after the market closes Wednesday. Here are Wall Street analysts’ estimates for second quarter metrics: EPS: $1.13 expected, according to Thomson Reuters, up from $0.97 a year ago […]
Read moreThe all-consuming “Amazon effect” online is more beneficial than many Citigroup investors may think, Citi CEO Michael Corbat told CNBC. “What people have missed is … [credit] card usage has actually gone up,” Corbat said in a wide-ranging interview with “Mad Money”host Jim Cramer on Wednesday. “Sure, Amazon has benefited, but other online retailers benefit […]
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The CBOE Volatility Index (.VIX), widely considered the best gauge of fear in the market, fell Wednesday to its lowest on record. At 2:01 p.m., the VIX dropped below 9, hitting a low of 8.84, below the low of 8.89 from Dec 27, 1993. The VIX then popped back up to around 9.38 as of […]
Read moreUBS now expects a wider loss for Tesla’s second quarter, citing the company’s recent decline in quarterly vehicle deliveries. In a note sent Wednesday, UBS analyst Colin Langan said he projects a loss per share for the period of $1.80, compared with an earlier estimate of $1.32 per share. His full-year estimate is now for […]
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