(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day) Word of the day: Patience Stephanie Link, chief investment strategist of Hightower Advisors said investors need to wait for the opportunities in the market and not chase trends. “The economy is holding up, so bodes very well for earnings going forward so you want to pick your spots.” Link said. She added: “You don’t have to chase. Make a list of the names that you like and as they come down you add…
Author: usaeverydaylife
Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president.”Every conversation I’ve had is that it’s not going to happen,” Cuban said on CNBC’s “Squawk Box.”Cuban’s remarks could signal another break on tax policy between Harris and President Joe Biden, who dropped out of the presidential race in July and endorsed the vice president as his successor.Biden’s fiscal year 2025 budget plan proposes a 25% minimum income tax on Americans with wealth above $100 million.Unlike current law, Biden’s budget would apply an annual tax on unrealized gains — the increased…
Scott Olson | Getty ImagesThe New Mexico attorney general filed a lawsuit against Snap, alleging that its social media app Snapchat’s design features create an environment where “predators can easily target children through sextortion schemes and other forms of sexual abuse.”This is breaking news. Please refresh for updates. Source link
A man wearing Abbott’s Lingo biosensor.Courtesy of AbbottAbbott Laboratories announced Thursday its over-the-counter continuous glucose monitor Lingo is available in the U.S. starting at $49. Lingo is part of an emerging class of consumer-friendly biosensors that people can use to learn how their bodies respond to food, exercise, sleep and stress. These devices, called continuous glucose monitors, are small sensors that stick through the skin to measure real-time glucose levels. Glucose is a sugar molecule that comes from food, and it’s the body’s main energy source.Continuous glucose monitors have served as tools for patients with diabetes, but Lingo is not intended…
ST. JOSEPH, Mo. — In late June, the quietest time on the NFL calendar, Kansas City Chiefs general manager Brett Veach started receiving text message after text message while on a family vacation. Questions raced through his mind.Was there breaking NFL news? Did a member of the Chiefs organization need his attention? Did something happen to one of the players?Once he looked at what several people sent him, Veach’s reaction was similar to so many around the world: Travis Kelce was on stage with Taylor Swift.Across the Atlantic Ocean, at London’s Wembley Stadium, Kelce made a surprise appearance as a…
Honor launched the Magic V3 foldable smartphone in international markets as it steps up its challenge to Samsung.HonorHonor launched the Magic V3, its latest foldable smartphone, in international markets on Thursday as the Chinese tech company ramps up its challenge to Samsung in the fast-growing market.The handset, which has a screen that folds like a book, has already been launched in China, but its release overseas highlights Honor’s continued push to expand its share in the high-end market abroad.With the Honor Magic V3, Honor talked up how thin the device is compared to rivals. The company said that the phone…
Check out the companies making headlines in premarket trading. C3.ai — The technology stock tumbled 19.2% after on weaker-than-expected subscription revenue during the company’s fiscal first quarter. C3.ai posted $73.5 million for the top line, while analysts polled by FactSet had penciled in $79.2 million. Verizon , Frontier Communications — Verizon announced it will purchase Frontier Communications in an all-cash deal valued at $20 billion, confirming earlier reports of the transaction. Frontier shares fell 9.7%, while Verizon’s stock advanced 1.2%. The deal is expected to close in the next 18 months. Tesla — The electric vehicle stock rose nearly 3%…
A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024.Cfoto | Future Publishing | Getty ImagesVolvo Cars on Thursday scaled back its margin and revenue targets, after announcing it was no longer targeting 100% all-electric vehicle sales by 2030.The Swedish automaker, which is majority-owned by China’s Geely Holding, said it is now targeting a 2026 EBIT (earnings before interest and taxes) margin goal of 7-8%, down from “above 8%,” due to “increased complexity especially in relation to global trade and tariffs.”It added that it was now…
Here are Thursday’s biggest calls on Wall Street: Morgan Stanley names Arm a top pick The firm said the semiconductor company is an “overlooked AI beneficiary.” “We introduce Arm as our new large-cap Top Pick based on mobile recovery, new edge AI opportunities and the resulting royalties’ expansion.” Cantor Fitzgerald initiates Amazon as overweight Cantor said it sees upside to estimates for the e-commerce giant. “The investment thesis on AMZN is still centered on 1) retail margin expansion, and 2) AWS acceleration.” Cantor Fitzgerald initiates Meta as overweight Cantor said Meta is a top pick at the firm. “We believe…
Private sector payrolls grew at the weakest pace in more than three-and-a-half years in August, providing yet another sign of a deteriorating labor market, according to ADP.Companies hired just 99,000 workers for the month, less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.August was the weakest month for job growth since January 2021, according to data from the payrolls processing firm.”The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized growth,” ADP chief economist Nela Richardson said.The report corroborates multiple data points recently that show hiring has…
