Day: February 8, 2017

Aw, Snap. I bought the wrong shares

Shares in a little known US start-up have almost doubled in value, seemingly because traders thought they were buying into the firm behind Snapchat. Since then, over-eager investors appear to have been getting ahead of themselves, buying into an unrelated company called Snap Interactive.

Central Michigan selling Flint PBS station for $14 million

Central Michigan University says it will end public television broadcasts from Flint in about three months after selling its station there for $14 million. The sale announced Wednesday follows a Federal Communications Commission broadcast spectrum auction to gain spectrum for cellular and digital services.

Ant Financial Said Raising Under $3 Billion of Debt For Deals

Ant Financial, the parent of China’s largest online payment service, is seeking to raise less than $3 billion by issuing debt to fund its acquisitions, people familiar with the matter said. Ant Financial is raising the money to partly finance its $880 million purchase of MoneyGram International Inc. and other acquisitions, the people said, requesting not to be named because the matter is private.

Ant Financial Said Raising Under $3 Billion of Debt For Deals

Ant Financial, the parent of China’s largest online payment service, is seeking to raise less than $3 billion by issuing debt to fund its acquisitions, people familiar with the matter said. Ant Financial is raising the money to partly finance its $880 million purchase of MoneyGram International Inc. and other acquisitions, the people said, requesting not to be named because the matter is private.

HSBC Said to Seek Wealth Management Asset Acquisitions This Year

HSBC Holdings Plc is planning to pursue deals to expand in asset and wealth management as the lender seeks to capitalize on the growing funds of the middle class in Asia and diversify its business away from traditional lending, according to two people with knowledge of the plans. Europe’s largest bank aims to make three or four acquisitions globally this year, with a particular focus on China, said the people, who asked not to be identified because the strategy isn’t public.

HSBC Said to Seek Wealth Management Asset Acquisitions This Year

HSBC Holdings Plc is planning to pursue deals to expand in asset and wealth management as the lender seeks to capitalize on the growing funds of the middle class in Asia and diversify its business away from traditional lending, according to two people with knowledge of the plans. Europe’s largest bank aims to make three or four acquisitions globally this year, with a particular focus on China, said the people, who asked not to be identified because the strategy isn’t public.

iRobot Crushes Expectations With a Record Quarter

But with shares of the home-robotics specialist down around 9% in after-hours trading as of this writing, it seems the market isn’t pleased. To be fair, iRobot stock had also climbed more than 80% over the past year and traded near an all-time high leading up to this report, thanks to several stronger-than-expected quarterly performances in 2016.

iRobot Crushes Expectations With a Record Quarter

But with shares of the home-robotics specialist down around 9% in after-hours trading as of this writing, it seems the market isn’t pleased. To be fair, iRobot stock had also climbed more than 80% over the past year and traded near an all-time high leading up to this report, thanks to several stronger-than-expected quarterly performances in 2016.

Junk May Slam Into $1 Trillion Wall as Maturities Hit Record

A record $1 trillion of junk debt will mature by 2021, leaving high-risk companies to hunt for new cash at a time when markets are likely to be less welcoming, according to Moody’s Investors Service. Speculative-grade companies have $1.06 trillion of debt maturing between 2017 and 2021, with the bulk of it, $933 billion, coming due after 2019, Moody’s said Wednesday in a report.

Are You Receiving More Robocalls? You’re Not Alone

But even signing on to do-not-call lists don’t stop them from happening or from people falling victim to phone scams. One company that tracks these calls estimates there are more than 900 robocalls made every second in the U.S. Critics claim phone companies are not doing enough to crack down on what is becoming an epidemic.

Steph Curry agrees with Under Armour CEO’s description of…

Stephen Curry made arguably his strongest political statements to date on Wednesday when he mocked both President Donald Trump and Under Armour CEO Kevin Plank’s praise of Trump. Plank was highly complimentary of Trump in an interview on Tuesday with CNBC’s “Fast Money Halftime Report ,” saying “to have such a pro-business president is something that is a real asset for the country.”

Wall Street’s Love Affair With Energy Heats Up as Rigs Roll Out

Wall Street is throwing the most money at U.S. energy companies since at least 2000 amid growing confidence that the industry is emerging from the worst downturn in a generation. Energy firms raised $6.64 billion in 13 equity offerings in January, drawn in by a rich combination of oil prices consistently above $50 a barrel and a rush to drill that’s doubled the rigs in use in the U.S. and Canada since May. The biggest change from last year: Oilfield servicers that provide the rigs, fracking equipment and sand used by drillers.

The West Coast MC recently collaborated on Mariah Carey’s latest single, “I Don’t.”

YG is coming off one of the most successful and high-profile years of his career in 2016, with the release of his album Still Brazy and the notoriety of his anti-Donald Trump song “FDT ” and its accompanying campaign. Today, the West Coast MC officially signed to UTA for worldwide representation in all areas, Billboard and The Hollywood Reporter have exclusively learned.

Allergan: Cramer’s Top Takeaways

Did you miss last night’s “Mad Money” on CNBC ? If so, here are some of Jim Cramer’s top takeaways. In his third and final “Executive Decision” segment, Cramer spoke with Brent Saunders, chairman and CEO of Allergan , which today reported a 14-cents-a-share earnings beat on a 7% rise in revenues, but still trades at just 15 times earnings.

General Electric: Cramer’s Top Takeaways

Jeff Immelt tells Jim Cramer GE is everything Trump’s looking for: an American company that exports goods around the globe. In his second “Executive Decision” segment, Cramer sat down with Jeff Immelt, chairman and CEO of General Electric , which delivered in-line earnings and weak revenues when it reported on Jan 20. Shares of GE are down 6.7% for the year.

Jeff Sessions Confirmed as U.S. Attorney General

The Senate confirmed Jeff Sessions as U.S. Attorney General on Wednesday, bringing to a close what became one of the most contentious debates over President Trump’s cabinet picks so far. The Senate voted to confirm Jeff Sessions as U.S. Attorney General on Wednesday, bringing to a close what became one of the most contentious debates over President Trump’s cabinet picks so far.

Amazon and Apple’s Payments Growth Shows PayPal Is Facing Stiffer Competition

Though its shares — and back when it was a part of eBay , eBay’s shares — have dipped a number of times on news that a tech giant is trying to muscle in on its turf, the company has kept delivering 20%-plus payment volume growth like clockwork. But while any talk of a would-be “PayPal-killer” merits skepticism, the company does arguably face a tougher competitive environment than any time in recent history.

Synchronoss Technologies Moves Forward After Intralinks Acquisition

The pitfall of quarterly reporting is that it tends to focus investor attention on short-term thinking. For Synchronoss Technologies , the boom in cloud computing is a long-term opportunity, and strategic moves like the company’s recent purchase of Intralinks are aimed at boosting Synchronoss’ prospects to capture more of the fast-growing market.

Compass Minerals Posts a Double Win

Diversification can help companies like Compass weather tough conditions in one market, but every once in a while, good conditions in both markets can bring a nice positive surprise. Coming into Wednesday’s fourth-quarter financial report, Compass investors expected to see a big boost in revenue but a drop in net income.

Better Buy: Apple Inc. vs. IBM

Apple, after reporting three consecutive quarters of sales declines, finally broke out of its funk last month when it reported solid, albeit muddled , holiday quarter results. IBM, after years of earnings declines, expects to return to growth on a per-share basis this year.

Federal Judge Blocks Anthem’s Planned Acquisition of Cigna

A federal judge on Wednesday blocked health insurer Anthem Inc. from acquiring rival Cigna Corp., the second court ruling in recent weeks to deal a decisive rebuke to efforts to reshape the industry through megamergers. The decision, by U.S. District Judge Amy Berman Jackson, said the proposed $48 billion deal violated federal antitrust law because it would create an unacceptable reduction in the number of companies that can serve large national employers that insure their workers.

How to Refinance a VA Loan

The benefits of a mortgage that’s backed by the Department of Veterans Affairs continue beyond the day your loan closes. You can lower your rate, tap into your home’s equity or even bring your conventional loan into the VA program by refinancing .

Retirement Planning? Couples, Mind the Age Gap

As you approach retirement together, that age gap becomes a factor in decisions about when you retire and when you take Social Security, and in planning how much money you need to save and how it should be invested. Especially if the younger partner is a woman, an age difference can mean you need your money to last longer.

Why Trump’s Nordstrom Tweet May Have Crossed An Ethical Line

U.S. President Donald Trump and his daughter Ivanka walk to board Marine One at the White House in Washington, D.C., on February 1, 2017. After a week of major retailers dropping Ivanka Trump’s products, the #GrabYourWallet boycott made its biggest impact ever today when it prompted the president of the United States to respond with an angry tweet that may have crossed an ethical line, say government ethics experts.

Retirement Account Managers Required to Put Clients First

Retirement account managers can be required to put their clients’ interest first, a Texas federal judge ruled in a second case upholding Obama administration rules. Thwarting an industry-backed effort to block the requirement, the ruling follows an earlier decision by a judge in Washington that all financial advisers handling retirement accounts must meet a fiduciary standard.

The boutique firm’s on-air talent includes Savannah Guthrie, Wolf Blitzer and Meredith Vieira.

With the acquisition, ICM is launching a broadcasting department, led by HMM CEO Lou Oppenheim and HMM president Michael Glantz, who are joining ICM as partners. “Lou and Michael have built an incredibly successful business representing clients at the forefront of sports and news broadcasting,” ICM Partners’ Chris Silbermann and Ted Chervin said in a joint statement.

Take-Two Interactive: Cramer’s Top Takeaways

In his first “Executive Decision” segment, Cramer again sat down with Strauss Zelnick, chairman and CEO of game maker Take-Two Interactive , the stock of which has risen 216% since Zelnick’s first appearance on the show. Zelnick said that “Grand Theft Auto” continues to be a powerhouse property for Take-Two, and the game’s latest installment, GTA 5, has sold over 75 million units so far.

Canada Defends Bombardier Aid as Brazil Moves on Trade Challenge

Innovation Minister Navdeep Bains said Canada’s financial aid package for Bombardier Inc. is consistent with trade rules, as Brazil pushed for a hearing in front of the World Trade Organization on what it considers unfair subsidies. The Brazilian government formally sought “consultations” early Wednesday with Canada in front of the WTO with the blessing of Bombardier’s South American rival Embraer SA, according to a statement from that company.

Intel Pledges $7 Billion Arizona Investment in Trump Meeting

Intel Corp. Chief Executive Officer Brian Krzanich said the semiconductor maker will invest $7 billion to complete a chip factory in Chandler, Arizona, becoming the latest company to use a meeting with President Donald Trump to tout spending and job-creation plans that were already in place. Krzanich, speaking Wednesday in the Oval Office, called the investment an expansion of Intel’s presence in Chandler that will finish a plant — already under construction — capable of advanced 7-nanometer chip production.

Nordstrom broke the curse of the Trump tweet

After the president slammed Lockheed Martin on Dec. 23 for the “tremendous cost” of its fighter jets, the company’s stock price Less than two weeks later, Trump blasted General Motors for assembling cars in Mexico, and the automaker’s share value dropped 24 cents . Then he took aim at Toyota for building a new Mexican plant, delivering an apparent 64 cent blow .