Ian Read, chairman and chief executive officer of Pfizer, speaks as President Donald Trump, left, listens during an announcement on a new pharmaceutical glass packaging initiative in the Roosevelt Room of the White House in Washington, D.C., July 20, 2017. Andrew Harrer | Bloomberg | Getty ImagesFormer Pfizer CEO Ian Read and ex-CFO Frank D’Amelio said Wednesday evening that they would step away from Starboard Value’s campaign at the struggling pharmaceutical giant, just days after news of the activist’s stake broke.Read and D’Amelio said they were “fully supportive” of Pfizer CEO Albert Bourla in a joint statement made via an investment…
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The New York Jets’ decision to fire coach Robert Saleh on Tuesday had raised plenty of eyebrows around the NFL.The prevailing questions being asked by rival coaches and executives: What’s the true logic behind the decision, and what’s the Jets’ plan in both the short and long term?Team owner Woody Johnson took sole responsibility for the decision to fire Saleh and said the move was necessary to spark a team that was underperforming with a 2-3 record. On the surface, there’s merit to that strategy, but others around the league were skeptical.“Win on Monday (at home against the Buffalo Bills),…
For most travelers, flying in business and first class, especially on international flights, is a once-in-a-lifetime opportunity.A business class ticket can cost up to five times more than an economy ticket on Singapore Airlines — and a whopping 13 times more for a first-class one.As a result, these cabins are often booked by big-time business travelers, or the well heeled, including — to borrow a movie title — crazy rich Asians.A Singapore-to-London economy class ticket on Singapore’s flag carrier, booked about six months in advance, costs 1,700 Singapore dollars ($1,303.68) for a round trip. A business class ticket jumps to…
Earnings season is right around the corner, and there are some stocks investors should be wary of, according to Piper Sandler. The season unofficially kicks off this week, with JPMorgan’s third-quarter results due Friday before the bell, and it ramps up from there. This comes as October has already been a volatile month for stocks – on par with historical trends , especially during election years. In those years, the index has seen an average decline for October of nearly 1%, per the Stock Trader’s Almanac. The S & P 500 fell about that much on Monday but then recovered…
CNBC’s Jim Cramer said Wednesday that as earnings season begins, it’s wise to keep in mind that sometimes bad news is baked into a stock’s price before the report.Cramer pointed to Wall Street’s reaction to PepsiCo in the lead-up to, and wake of, its Tuesday report. He noted how shares dipped but managed to recover even though the company posted a revenue miss.”This is something you need to keep in mind as we head into earnings season: If a stock has already sold off hard going into the quarter, it’s very difficult for it to keep going down unless the…
DETROIT– It started as a joke.Tigers superfan Josh Tebeau, who went to around 50 games this year, always heads to Comerica Park armed with two things: a lot of layers and an armful of signs intended to help to pump up the crowd. Tebeau, a 41-year-old lifelong fan who started going to more games over the past few seasons, likes to keep things positive — even if the Tigers play in early July didn’t always inspire a ton of whimsical messages.Detroit sank to a season-low nine games under .500 on July 4. On July 8, after a win over the…
A luxe hotel chain is looking to give away the vacation of a lifetime. Ramada by Wyndham has launched a contest to find someone who will travel the world visiting its locations and documenting the trip for social media.The “chief eats officer”, as the position is dubbed, will be responsible for “exploring the most delicious local cuisines and experiences” in cities with Ramada locations around the globe.The CEO will capture content and write blog posts that the brand will showcase on its social channels.The globetrotting itinerary will be planned in coordination with Ramada and will feature stays on five continents.…
Looking for a sector to invest in for the 2024 home stretch? Health care may be the answer, if history is any indication. The Health Care Select Sector SPDR Fund (XLV) has posted a November gain in eight of the last 10 years. In December, the fund has advanced in four of the last five years. What’s more, the sector is also attractively valued relative to the broader market. Health care trades at a forward price-to-earnings ratio of 22.2, while the S & P 500 has a multiple of 24. “We think the Healthcare sector is at an attractive entry…
Gene Munster, Deepwater Asset Management, joins ‘Closing Bell Overtime’ to talk Tesla’s upcoming robotaxi event. Source link
A top-performing fund manager has been selling off Microsoft stock, citing concerns about the tech giant’s future profitability in the face of advancements in artificial intelligence. Stephen Yiu, chief investment officer at the Blue Whale Growth Fund , revealed his fund has been reducing its Microsoft position over the past six months. The Blue Whale Growth Fund held Microsoft since its inception until August this year. The fund is up 16.6% this year. In 2023, the fund returned 30.7%, significantly outperforming its benchmark and the S & P 500, which was up 26%. Yiu’s decision stems from his belief that…
