Brian Moynihan, CEO of Bank of America, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBCBank of America on Thursday posted results that topped expectations for profit and revenue on better-than-expected investment banking and interest income. Here's...
With inflation still stubbornly high in comparison to previous years, and the siren voices of subscription services like Netflix and Spotify continuing to lure, consumers have understandably turned to alternative forms of payment to manage their household bills. As a result, online prepaid payment platforms have benefited. That’s the bet...
Shoppers pass a Cartier luxury store, operated by Cie. Financiere Richemont SA, in the Galeries Lafayette SA luxury department store in Paris, France.Bloomberg | Bloomberg | Getty ImagesShares of Cartier owner Richemont jumped on Thursday after the luxury group reported a 10% increase in fiscal third-quarter sales even as...
A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)Amber Wang | Afp | Getty ImagesTaiwan Semiconductor Manufacturing Company's fourth-quarter revenue and profit beat expectations, as demand for advanced...
The National Gallery and the church St. Martin's in the Fields at dusk. Trafalgar Square, London, UKStockcam | E+ | Getty ImagesThe U.K. economy grew at a lackluster pace of 0.1% in November, data from the Office of National Statistics showed Thursday.This compares with the 0.2% month-on-month growth expected...
Goldman Sachs shares jumped to near all-time highs Wednesday after the investment bank reported strong fourth-quarter results and signaled that more dealmaking is on the way. Revenue for the three months ended Dec. 31 increased over 22% year over year to $13.9 billion, far outpacing expectations of $12.4 billion,...
Wells Fargo shares rallied Wednesday after the bank delivered better-than-expected earnings for the fourth quarter. While the reported numbers were solid, an upbeat outlook for 2025 stole the show. Total revenue for the three months ended Dec. 31 dipped 0.5% year over year to $20.38 billion — missing analysts'...
Check out the companies making headlines in midday trading. Quantum stocks – Quantum computing stocks gained after Microsoft unveiled its quantum-ready plan aimed at preparing businesses for the rise of quantum computers. Nvidia also announced a quantum day at its annual GTC conference. Rigetti Computing rallied more than 18%,...
BlackRock reported better-than-expected earnings Wednesday, lifting shares of the asset management giant higher as it embarks on a pivotal year of expansion into fast-growing markets. Revenue of $5.68 billion in the three months ended Dec. 31 exceeded expectations of $5.49 billion, according to LSEG. Adjusted earnings per share (EPS)...
Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing.The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%, the Bureau...
With inflation still stubbornly high...
Shoppers pass a Cartier luxury...
Gregg Greenberg spent 14 years as a journalist at TheStreet.com where he wrote the highly popular column "The 5 Dumbest Things on Wall Street This Week". His work has appeared in magazines ranging from Glamour to ESPN the Magazine, and on humor sites such as Points in Case.
A "Now Hiring" sign at a CVS pharmacy in San Francisco, California, US, on Tuesday, July 18, 2023. CVS Health Corp. is scheduled to release earnings figures on August 2.Bloomberg | Bloomberg | Getty ImagesPrivate sector payroll growth increased modestly in October but missed expectations, in a potential sign...
A wave of disruptive technology is reshaping the wealth management industry. New ESG screening tools, generative AI and conversational ChatGPT marketing have helped firms elevate their offerings, increase advisor productivity and deepen and expand client relationships in a highly personalized and holistic manner. This modernization process is also reshaping...
Sign for the food brand Pizza Hut on 30th May 2022 in Birmingham, United Kingdom. (photo by Mike Kemp/In Pictures via Getty Images)Mike Kemp | In Pictures | Getty ImagesYum Brands on Wednesday reported quarterly revenue that fell short of analysts' expectations, hurt by weak same-store sales growth at...
In a groundbreaking decision that has sent shockwaves through the real estate industry, the United States’ premier real estate brokerage firms have been held responsible for a staggering $1.8 billion in damages. This verdict comes after allegations of a seven-year conspiracy to compel homeowners to pay substantial commissions to...
Wayfair IPO on the floor of the New York Stock Exchange.Lucas Jackson | ReutersWayfair is inching closer to profitability, but its third-quarter results still fell short of revenue expectations as the home market continues to be under pressure. Here's how the online furniture retailer did during the period compared with...
The private credit market is gaining traction as investors across the spectrum seek better returns and greater diversification. A new report from private credit platform Percent and Coalition Greenwich shows that 63% of respondents – largely asset managers, hedge funds and wealth managers in family offices and RIAs – plan...
