IBM CEO Arvind Krishna appears at the World Economic Forum in Davos, Switzerland, on Jan. 16, 2024.Stefan Wermuth | Bloomberg | Getty ImagesIBM shares moved 5% lower in extended trading on Wednesday after the hardware, software and consulting provider fell short of Wall Street’s revenue expectations for the third quarter.Here’s how the company did in comparison with LSEG’s consensus:Earnings per share: $2.30 adjusted vs. $2.23 expectedRevenue: $14.97 billion vs. $15.07 billion expectedIBM’s overall revenue increased 1.5% year over year, according to a statement. It had a net loss of $330 million, or 36 cents per share, compared with net income…
Author: usaeverydaylife
Dusty Baker remembered the games. Not the ones that Fernando Valenzuela would bend to his will like his signature screwball, but the moments in between. The precocious left-hander’s skills went beyond the iconic windup he taught himself on mounds in a small Mexican town named Etchohuaquila. Valenzuela could hit so well that he remained parked on the bench at Dodger Stadium even on nights when he didn’t pitch. He could field his position so well that he’d win a Gold Glove.But Baker marveled at another athletic feat: Valenzuela knocking a hacky sack into the air, his eyes floating to the…
Data center power demand could boost companies with ties to transporting and storing natural gas, and that bodes well for a few stocks that also happen to pay attractive dividends, according to Bank of America. “In this environment, we favor gas-linked names, especially midstream ones,” said analyst Jean Ann Salisbury in an Oct. 17 report. The natural gas liquids midstream space is “relatively defensive,” she added. “Near-term gas oversupply is obscuring the brightening medium-term picture; we expect positive catalysts in 2025 as data center development and LNG demand materialize,” the analyst said, referring to liquified natural gas. She added that…
David Einhorn speaking at the 2024 SOHN Conference in New York City on April 3rd, 2024. Adam Jeffery | CNBCShares of Peloton spiked more than 11% on Wednesday after Greenlight Capital’s David Einhorn said shares of the company are significantly undervalued, CNBC has learned. Einhorn made the pitch to investors while he was riding a Peloton bike, a person familiar with his remarks said. It was not immediately clear what Einhorn believed Peloton shares should trade at.Over the summer, Greenlight Capital, the hedge fund that Einhorn founded in 1996, disclosed it had a $6.8 million stake in the company as of June 30. Peloton’s…
Tesla CEO and X owner Elon Musk stands with Republican presidential nominee former U.S. president Donald Trump during a campaign rally, on the day Trump returns to the site of the July assassination attempt against him, in Butler, Pennsylvania, U.S., October 5, 2024. Brian Snyder | ReutersAs Tesla prepares for quarterly results on Wednesday, many investors have one big issue on their minds: Donald Trump.On a forum Tesla uses to solicit investor questions online in advance of its earnings calls, dozens of inquiries poured in from retail shareholders about Elon Musk’s politics, his incendiary commentary on X, and his efforts to get Trump back…
By Dianna Russini, Nate Taylor and Joe RexrodeThe Kansas City Chiefs acquired wide receiver DeAndre Hopkins from the Tennessee Titans, a league source said Wednesday, a move intended to bolster the defending Super Bowl champions’ injury-plagued receiving corps with a five-time Pro Bowler.Tennessee will receive a conditional draft pick — a fifth-rounder that could become a fourth if the Chiefs make the Super Bowl and if Hopkins plays 60 percent of the team’s snaps — in the deal, according to a league source. The Titans will pay $2.5 million of Hopkins’ remaining $8 million salary.As of Wednesday afternoon, Hopkins was…
Abercrombie & Fitch chairman and CEO Mike Jeffries addresses stockholders during the company’s annual meeting at the company’s headquarters in New Albany, Ohio, U.S. May 22, 2003.Will Shilling | Via ReutersAbercrombie & Fitch washed its hands of its former CEO Mike Jeffries after he was arrested on federal sex trafficking charges, saying in a Wednesday statement the company is “committed to fully cooperating with law enforcement as the legal process continues.” “As we shared when the accusations were first made public in October 2023, we are appalled and disgusted by the alleged behavior of Mr. Jeffries, whose employment with Abercrombie &…
BMO Capital Markets dropped its 2024 election guide last week. The firm found stocks in different sectors that stand to gain or lose depending on which party wins the White House. BMO looked mainly at potential impacts tied to tariffs, regulation, immigration, taxation and socially conscious business frameworks. “We are not taking a view on the election outcome but rather sharing our views from a policy perspective,” the firm said. CNBC Pro compiled some names BMO sees as winning in both scenarios: Kamala Harris victory Brookfield Renewable is one name that could be a winner if Harris prevails. That’s because…
[The stream is slated to start at 2:55 p.m. ET. Please refresh the page if you do not see a player above at that time.]Ripple Labs CEO Brad Garlinghouse will speak at DC Fintech Week in Washington, D.C., on Wednesday afternoon.Ripple, the largest holder of XRP coins, scored a partial victory last summer after a three-year legal battle with the U.S. Securities and Exchange Commission. This was hailed as a landmark win for the crypto industry as it established a precedent that could help determine when other cryptocurrencies might be deemed securities. The SEC appealed that decision earlier this month.Garlinghouse will…
Former President Donald Trump, left, and Vice President Kamala HarrisReutersTwenty-three Nobel Prize-winning economists endorsed Vice President Kamala Harris over former President Donald Trump in a joint letter released Wednesday.The nearly two dozen economists said Trump’s economic agenda, which includes hardline tariff proposals and a slate of aggressive tax cuts, would “lead to higher prices, larger deficits, and greater inequality.””Simply put, Harris’s policies will result in a stronger economic performance, with economic growth that is more robust, more sustainable, and more equitable,” the letter read. CNN was first to report on the new letter.Joseph Stiglitz, who won the Nobel Prize for…
