The market will surge this year on tax reform, Wharton School finance professor Jeremy Siegel told CNBC on Wednesday. “If we get tax reform on the corporate side, which I still believe is an odds-on proposition this year … If we can get the corporate rate down to 20 percent, you can easily see another […]

Facebook shares have surged nearly 44 percent this year, but some traders appear to be pumping the brakes on the stock ahead of earnings Wednesday afternoon. “Over the past five days, Facebook has been the second-most-active single stock option that’s being traded [in the options market],” Mike Khouw of Optimize Advisors said Tuesday on CNBC’s […]

Steve Cohen is planning to launch a $20 billion hedge fund — and many institutional investors are planning to steer clear of it. Cohen has been managing his own fortune at Point72 Asset Management, the family office he created in 2014 after his hedge fund firm, SAC Capital Advisors, pleaded guilty to insider-trading charges in […]

Amgen shares fell more than 2 percent in trading Wednesday, after the biotech’s second-quarter earnings report revealed profits may slow down in the future. Despite beating Wall Street’s expectations, the second-quarter earnings report showed the company’s growth is slowing and a buildup in inventories – rather than an increase in prescriptions – contributed to recent […]

Daniel Loeb’s Third Point took a new stake in BlackRock, calling the asset manager a “misunderstood franchise.” The hedge fund touted BlackRock’s oligopoly in the passive investing world, where its 38 percent market share in exchange-traded funds, or ETFs, is rising, according to Third Point’s second quarter investor letter, which was obtained by CNBC. The […]

The “Fast Money” traders shared their first moves for the early hours of trading. Steve Grasso was a buyer of Alibaba. Karen Finerman was a buyer of the SPDR S&P Retail ETF. Dan Nathan was a buyer of AT&T. Guy Adami was buyer of Macy’s. Trader disclosure: On July 25, 2017, the following stocks and […]

Shares of high-end hotel operator Wynn Resorts fell more than 6 percent Wednesday after the company said gambling at their tables decreased in Macau. Wynn said mass market operations, or walk-in business, from Wynn Macau fell 9 percent in the second quarter on a year-over-year basis. The weakness offsets the strong performance from Macau’s VIP […]

With a fresh round of record-breaking highs in the stock market has come a surge in investor optimism, and that eventually could create problems. Bullishness in the most recent Investors Intelligence survey hit 60.2 percent, the highest level since late-February. The survey comes from editors of market newsletters and thus provides a snapshot of what […]

Check out which companies are making headlines before the bell: Coca-Cola – Coke beat forecasts by two cents a share, with quarterly profit of 59 cents per share. Revenue also came in above Street forecasts and Coke raised its full-year forecast, supported by growth in its newer products among other factors. Boeing – The jet […]

Fifteen years ago, on July 26, 2002, Barclays began offering a new way to invest in bonds through a new division called iShares. It was called an exchange-traded fund, or ETF, and even though only four funds were launched that day, it changed the way bonds are traded. Fifteen years later, there are nearly 1,000 […]