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Day: February 10, 2017
Greenberg Says – Disgraceful’ Legal Case Destroyed Great Firm
Maurice “Hank” Greenberg, the former American International Group Inc. chief executive officer, lambasted the New York State attorney general’s office after admitting that he approved two reinsurance deals that regulators have called fraudulent. shadow of what it was , people lost millions of dollars, billions of dollars.
WBGU-TV staying on UHF, but channel number will change
Bowling Green State University said Friday that WBGU-TV, a public television station, will continue broadcasting in the UHF spectrum, but will be moving from channel 27 to channel 22 in the future.
Apple, Inc. CEO Tim Cook Talks Up Augmented Reality’s Potential
Despite the company’s penchant for secrecy, it’s become increasingly clear that Apple has something in the pipeline given that CEO Tim Cook keeps talking about AR’s transformative potential. This is that whole “ship leaking from the top” bit that Steve Jobs always referred to.
Full Speed Ahead; Big Moves: Best of Kass
In highlights from this week’s trading diary and posts, Kass offers some advice about fundamentals and about what earnings season means. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.
Why Dump Good Stocks?; Gamers, Oil and Industrials Take a Ride: Jim Cramer’s Best Blog
Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on: Click here for information on RealMoney , where you can see all the blogs, including Jim Cramer’s — and reader comments — in real time.
Ahab versus Moby Dick
There are many of us who sense intuitively that economic revitalization of the US economy under Trump policies, so long as it comes through peace and retention of our personal liberties and our national sovereignty, will be the sole criterion upon which Trump is judged by history. The rest of Trump’s ego will simply be ignored in a salvific attempt to retrieve some dignity of the Oval Office, … an idea that currently evokes laughter.
FCC spectrum auction bidding ends at $19.6 billion
The U.S. Federal Communications Commission said Friday that bidding in the wireless spectrum auction has ended at $19.6 billion, significantly less than many analysts had initially forecast. The so-called broadcast incentive spectrum auction is one of the commission’s most complex and ambitious to date and should be complete by April.
Here’s how slowly Twitter has grown compared to Facebook,…
While President Trump has helped make Twitter a regular part of the national conversation, the business behind the microblogging service is not looking up. That feeling was only reinforced by the meager revenues the company reported on Thursday.
Wall Street Week Ahead: Energy Stocks Look for Catalyst out of Doldrums
Buoyant oil prices since Donald Trump’s election have provided no lasting halo effect for energy stocks as the sector’s profit rebound has lacked vigor, but that could change in the week ahead with a fresh crop of quarterly scorecards. Helped by OPEC output cuts, oil prices are up roughly 20 percent since Trump’s victory, and U.S. crude has held above $50 a barrel since mid-December.
David Stockman: The White House is already a political train wreck
Feb. 10, 2017 – 6:09 – David Stockman, former OMB Director under Reagan, comments on the potential impact of President Trump’s policies on the markets.
Harley-Davidson: Cramer’s Top Takeaways
Can government protection actually hurt American companies more than it helps? That was the question Cramer posited as he examined what, if anything, Donald Trump could do to help the likes of Harley Davidson . Trump recently met with Harley’s leadership in what was deemed a “listening session,” but Cramer noted that while both Harley and rival Polaris Industries , owners of the Indian motorcycle brand, saw sales revenue decline last quarter, it wasn’t because of foreign competition.
Taser: Cramer’s Top Takeaways
Taser CEO Rick Smith tells Jim Cramer his company’s acquisitions will add AI to its platform to help analyze data for law enforcement. For his “Executive Decision” segment, Cramer spoke with Rick Smith, co-founder and CEO of Taser International , makers of non-lethal weapons and evidence management systems.
Apple’s iPhone 8 Could Represent a Big Break with the Past
But a new set of reports also suggest the device could represent a sea change in terms of how Apple prices and manufactures its latest flagship model. In addition, one of the reports indicates Apple will be doubling down on its efforts to differentiate its costliest iPhones via camera technology.
FCC Chairman to Push Congress for Expansion of Broadband Internet
Federal Communications Commission Chairman Ajit Pai said he is pushing for Congress to include an expansion of broadband internet service in expected infrastructure legislation, including some of his own ideas for aiding hard-to-serve areas.
5 Tips for Investing in Your 30s
In your 20s, funding your 401 might have sounded like a good goal for your 30s. Now that your 30s are here, you may be nervously noticing the countless articles on the virtues of investing in your 20s .
Infinera’s Sales Fall, but the Bottom Might Be in Sight
Those difficulties caused management to guide for a steep drop in revenue in the fourth quarter. That report came out Thursday.
Tech Investor Jackson to Drop Activism With New Fund
Eric Jackson, an outspoken investor whose barbs have targeted Apple Inc., Yahoo! Inc. and Viacom Inc., plans to turn his back on activism to start a new hedge fund. Jackson left as managing director at SpringOwl Asset Management LLC in December and plans to launch the as yet unnamed new fund in the middle of this year, he said.
Hain Celestial Shares Drop After Disclosing SEC Investigation in Friday News Dump
In a regulatory filing late Friday, Hain Celestial Group disclosed that it’s being investigated by the Securities and Exchange Commission for its accounting practices, sending shares down 3.5%, to $38.53, in after-hours trading. The filing stated that the SEC has “issued a formal order of investigation” and subpoenaed Hain for “relevant documents” after being informed in August of the delay of its fourth quarter earnings release.
Appeals court to weigh rehearing of Trump travel ban
Feb 10 A U.S. federal appeals court on Friday asked the Justice Department and the state of Washington to submit briefs on whether a larger panel of judges should decide if President Donald Trump’s travel ban should remain on hold. A three-judge 9th U.S. Circuit Court of Appeals panel on Thursday refused to reinstate the ban, which temporarily halts travel from seven Muslim-majority countries, while litigation over its constitutionality is proceeding.
FCC ends wireless auction with $19.6B in bids
The Federal Communications Commission said Friday that the bidding phase of the agency’s first-ever auction of wireless spectrum had closed, with bids totaling $19.6 billion. “The participation of these broadcasters and wireless carriers will enable the Commission to release 84 megahertz of spectrum into the broadband marketplace,” he added.
New FCC chair closely guards his strategy to restructure net neutrality
WASHINGTON: The new chairman of the U.S. Federal Communications Commission under President Donald Trump is keeping under wraps his strategy to revise or reverse the Obama administration’s “net neutrality” rules, but emphasized he is committed to ensuring an open internet. Ajit Pai, 44, a Republican lawyer who has served as a FCC commissioner since 2012, strongly opposed former Democratic President Barack Obama administration’s 2015 net neutrality rules that reclassified broadband providers and treated them like a public utility.
Under Armour: Why We Shorted It
Last week, Under Armour stock crashed in value by 26%. This occurred when they announced that their holiday sales were less strong than expected and that next quarter’s earnings were likely to be lower than previously expected.
Why Yelp, Organovo Holdings, and Ubiquiti Networks Slumped Today
The stock market again reached record highs on Friday, building on its positive momentum from earlier in the week. Investors were generally upbeat about the health of the U.S. economy and were optimistic that changes in federal government policy could spur another leg up in the expansion.
Why Sears Holdings, Infinera, and Ellie Mae Jumped Today
Friday provided another strong finish to a positive week for the stock market, as major market benchmarks once again found themselves at unprecedented heights. The Dow finished with gains of almost 100 points, and the S&P 500 and Nasdaq Composite joined the Dow in record territory.
Why Ocular Therapeutix Inc Jumped Higher Today
Analyst Elemer Piros is excited about Ocular Therapeutix’s near-term potential to get Dextenza approved to treat post-surgical pain. Last month, Ocular Therapeutix resubmitted its application for Dextenza to the Food and Drug Administration after being issued a complete response letter — the FDA’s euphemism for a rejection — last July.
Why Gross Margin Was the Star of Apple’s Latest Guidance
In this segment from Industry Focus: Tech , Motley Fool analyst Dylan Lewis and senior technology specialist Evan Niu discuss the iPhone maker’s outlook for the current period. 10 stocks we like better than Apple When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen.
Greenberg Admits Aiding in Bogus AIG Deals, New York Says
Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to participating in and approving two fraudulent reinsurance deals as part of a settlement with New York’s attorney general, ending a contentious legal battle that has dragged out for almost a dozen years. The settlement, announced Friday, resolves a court fight in which Greenberg, 91, and his high-powered lawyer, David Boies, squared off against three successive state attorneys general.
Why Ford is Spending $1 Billion on a Tiny Self-Driving Start-Up
Argo AI is a new company, founded late last year by CEO Bryan Salesky and COO Peter Rander. Both are big names in self-driving circles: Salesky was the head of hardware at Alphabet ‘s Waymo unit ; Rander was a top engineer in Uber Technologies’ autonomous-vehicle division.
CSX Said to Hit Roadblock in CEO Negotiations With Harrison
CSX Corp. and Hunter Harrison have discussed a three-year contract for the railroad veteran to take over as chief executive officer, but the deal has bogged down over details on how to support his plan to turn around the company, according to a person familiar with the situation. CSX on Friday extended the deadline to nominate directors as it negotiates with activist investor Paul Hilal, who is working with Harrison and seeking six seats on the company’s board, the person said.
What Happened in the Stock Market Today
Financial stocks remained in focus as investors sought to catch up to their rapidly changing earnings prospects under lessened regulatory pressures. The Financial Sector SPDR Select ETF hardly budged, though, ticking up by less than 0.5%.
This Is Why Southwestern Energy Company’s Stock Cooled Off in January
Natural gas cooled off to start the year after weather prognosticators predicted that warmer temperatures were on the horizon. In fact, the price of gas fell nearly 10% in one day in early January — one of its worst trading days in almost three years — after forecasters expected that an arctic blast would be shorter than anticipated.
It Can Get Worse for Qualcomm: Legal Blitz Threatens NXP Semiconductor Acquisition
These legal troubles could negatively affect the chipmaker in a number of ways. Particularly worrisome, though, is that at least one analyst has expressed concerns that its courtroom battles could hamper Qualcomm’s pending acquisition of NXP Semiconductor Having unfolded in several stages around the world, Qualcomm’s five-year legal ordeal can be broken down into five major points.
How a Movie Propelled Lego Back to the World’s Most Powerful Brand
Lego recently took back its crown from Google as the world’s “most powerful brand,” according to Brand Finance’s 2017 yearly Global 500 rankings report. And film experts say it had a little help from a movie character named Emmet.
Meet the New Wave of Insurgents
A Lazard review of activist campaigns for 2016 show that first-time insurgent campaigns represented about a quarter of all activism for the year – a record. Last month, startup fund Gilead Capital settled a brewing director-election proxy fight with Landauer to add one dissident director to the therapeutics and analytical services company’s board.
Intel’s Growth Strategy Is Decent, But Could Create Openings for AMD and Qualcomm
The chip giant hopes to offset PC and enterprise server weakness with cloud, IoT and flash memory growth. But the strategy could create opportunities for AMD and Qualcomm.
Frank’s Place: Sports-TV connection was born in Philly in 1937
Frank Fitzpatrick has been an editor and writer at the Inquirer since 1980. A onetime beat writer for the Phillies, Eagles, and Penn State football, he’s also covered nine Olympics.
Siddharth Dhananjay was discovered by director Geremy Jasper on World Star Hip Hop.
The India-born, Indonesia-raised and Iowa-educated Dhananjay was first discovered by Patti Cake$ director Geremy Jasper on World Star Hip Hop where his parody rap videos were posted under his pseudonym Dhananjay the First. The Sundance comedy, which sold to Fox Searchlight for $9.5 million, is the first feature film role for Dhananjay, who plays the best friend and biggest fan of aspiring rapper Patti .
FCC faces doubleheader of Hill hearings
The Federal Communications Commission is facing a long day on March 8, with back-to-back hearings in the House and Senate. FCC Chairman Ajit Pai will face panels chaired by lawmakers more amiable to his policies than they were to his Obama-appointed predecessor, Tom Wheeler.
U.S. FCC spectrum auction bidding ends at $19.6 billion
The U.S. Federal Communications Commission said Friday that bidding in the wireless spectrum auction has ended at $19.6 billion, significantly less than many analysts had initially forecast. The so-called broadcast incentive spectrum auction is one of the commission’s most complex and ambitious to date and should be complete by April.