Amazon will most likely disappoint Wall Street with its fourth-quarter forecast, analysts at Goldman Sachs said. “Investor focus remains on operating income with the view that guidance is likely to fall below sell-side consensus of $1.5bn,” Heath Terry, an analyst at Goldman, said in a note Wednesday. “We expect the […]
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Morgan Stanley downgrades GM after nailing a 50% gain in the stock
Morgan Stanley’s auto analyst Adam Jonas is known for his out-of-the-box thinking on Tesla, but he’s pretty good at analyzing the traditional automakers too. Jonas downgraded GM shares Wednesday to equal-weight from overweight after nailing a breakout in the 109-year-old automaker. “Our OW [overweight] thesis that GM could change the […]
Amazon order reveals mystery delivery of 65 pounds of marijuana to Florida couple
Police are investigating how 65 pounds of marijuana ended up being shipped to a Florida couple that ordered four storage units from Amazon. The couple suspected that something was wrong when they found out that their package—shipped via UPS and meant to contain four empty bins—weighed 93.5 pounds. “They were […]
GE shares are entering a ‘death cross’
As if things couldn’t get worse for General Electric. Shares of the worst-performing Dow stock fell again on Tuesday and are now in danger of entering a technically perilous pattern that could spell more declines to come. “In a world of new highs, we have General Electric hitting fresh new […]
CEO of world’s largest oil company says it will be ‘decades’ before electric cars become real threat
Saudi Aramco CEO Amin Nasser, who runs the world’s largest oil company, is taking the rise of electric vehicles in stride. Growing adoption of electric vehicles stands to put a big dent in oil demand in the coming years. Barclays recently forecast that cleaner-burning cars could wipe out crude consumption […]
Bitcoin is not a classic bubble, but still be ‘suspicious,’ says investing expert William Bernstein
Bitcoin doesn’t show textbook signs of a bubble yet, but there are other reasons not to buy it, says investing expert William J. Bernstein. The digital currency has “no intrinsic value,” Bernstein said in a phone interview with CNBC.com. It’s “awfully suspicious on that criteria alone.” The “fact the price […]
Girlboss founder Sophia Amoruso wants you to learn this crucial lesson from her new book
Over three years after publishing her best-selling memoir “#Girlboss,” multimillionaire entrepreneur and Girlboss Media CEO Sophia Amoruso today released her third book titled, “The Girlboss Workbook: An Interactive Journal for Winning at Life.” Following a few years of “some very public stumbles” combined with “hard-won wins,” Amoruso tells CNBC Make […]
Goldman: US economy to flounder while rest of globe booms
The global economy is set to enjoy steady growth with one notable exception according to a note from Goldman Sachs out this morning. The firm’s portfolio strategy research team calls for 3.9 percent annual global growth through 2020, but believes GDP in the U.S. will decelerate to just 1.5 percent. […]
Malls ditch the ‘M word’ as they spend big bucks on renovations
A new look and a new name. Billions are being spent to renovate shopping centers to tailor them to consumers’ changing tastes and shopping patterns. And these changes are going way beyond a fresh coat of paint and some new tenants. Often the malls’ very identity is changing, and the […]
McDonald’s same-store sales climb as promotions lure customers in
McDonald’s reported better-than-expected sales at its established restaurants during the third quarter, as its promotions and fresh food offerings drew more customers in for a meal. McDonald’s national cold beverage value promotion, for example, offers soft drinks for $1, and its newest Signature Crafted sandwiches are priced between $5 and […]