Finance

Mounting credit concerns and lethargic profit margins will plague “weak” Citigroup earnings over the next two years, said one Wall Street research firm. Societe Generale reduced its rating on Citigroup shares to sell from hold Monday, citing deteriorating credit trends and increased loan loss provisions as detailed in the bank’s most recent earnings report. “Although
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JPMorgan Chase CEO Jamie Dimon might still think those buying bitcoin are “stupid,” but that didn’t stop the cryptocurrency from trading at records above $5,800 last week. Optimism around bitcoin drove its market capitalization above that of Goldman Sachs on Friday, with some market insiders forecasting that figure to reach at least $1 trillion in
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Win McNamee | Getty Images An employee walks outside the World Bank headquarters in Washington, United States. Experts say the roles of both institutions have shifted since their inception at Bretton Woods more than 70 years ago. “The IMF is heavily involved in fighting crises around the world,” Steil said. “Neither the British nor the
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As bitcoin soars to all-time highs, the pace of gains is rapidly picking up speed. For example, it took well over 1,000 days for each leg of bitcoin’s climb from a few cents to $1,000, and from $1,000 to $2,000. But since bitcoin topped $2,000 for the first time this May, the digital currency has
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“Who cares about bitcoin? The world economy is so big,” Dimon said, noting the bank moves about $6 trillion in money around the world every day. In comparison, bitcoin only has a market capitalization of less than $100 billion. Twenty-four hour trading volume in bitcoin-U.S. dollars was $3.7 billion Friday, according to CoinMarketCap. “This is
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Check out the companies making headlines after the bell: Equifax shares rose more than 1 percent in extended trading. Earlier Thursday, the company announced it might have faced another cyberbreach, but the company later said that it was not hacked. Spark Therapeutics‘s stock rose more than 5 percent after hours. An FDA advisory panel voted
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Check out the companies making headlines after the bell: Herbalife‘s stock rose about 1 percent in extended trading after an SEC filing showed that investor Carl Icahn boosted his stake in the company to 26 percent. In March, he reported a stake of about 24.5 percent. Juniper Networks‘s shares fell more than 2 percent after
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of General Electric. David Seaburg was a buyer of American Airlines. Steve Grasso was a buyer of Avis Budget Group. Guy Adami was a buyer of Target. Trader disclosure: On October 10, 2017, the following stocks and commodities
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Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday that he will be assessing the progress of the U.S. economy toward full employment and looking for more signs of upward inflation as he weighs potential interest-rate hikes. “I intend to keep an open mind about removing accommodation in upcoming (Fed) meetings,” Kaplan said in
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The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Macy’s. Karen Finerman was a buyer of American Airlines. Brian Kelly was a buyer of NVIDIA. Guy Adami was a buyer of Cypress Semiconductor. Trader disclosure: On October 9, 2017, the following stocks and commodities mentioned or
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One board seat, one epic battle. In the the culmination of the largest-ever proxy fight, Procter & Gamble will find out Tuesday if shareholders want to give Nelson Peltz a seat on the board of the owner of Bounty and Tide. It’s a fight that has cost millions and at times turned personal, pitting former
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Check out the companies making headlines after the bell: Shares of American International Group fell more than 1 percent in the extended session after the company estimated that it could register $3 billion in catastrophe losses in the third quarter due to Hurricanes Irma, Harvey and Maria. Shares of Campbell Soup rose more than 2.5
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Johnson & Johnson’s acquisition of biotech company Actelion as well as more moderate competition from rival companies will reaccelerate top-line growth, according to one Wall Street firm. Wells Fargo raised its rating on J&J Monday, saying that improved performance could lead to better-than-expected third-quarter results and gains in 2018. “With the accretion from Actelion, more
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Alvin Baez | Reuters Haydee Mestre looks inside her refrigerator after Hurricane Maria destroyed the town’s bridge and the surrounding areas, in San Lorenzo, Morovis, Puerto Rico, October 5, 2017. Puerto Rico‘s situation could get worse without Congress’ help, said Raul Maldonado, the island’s Treasury secretary. In a phone interview with CNBC.com, Maldonado said Puerto
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Quadratic Capital Management’s Nancy Davis said the next “big short” is betting against volatility. “I think the challenge has been that we’re in a very, very low-yield, low-return environment,” said Davis, Quadratic’s managing partner and chief investment officer. “So investors have been forced to figure other ways of generating yield in their portfolio, and I
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