It’s a bad sign if an index has too many large cap stocks from one sector, said Bill Smead, CEO and chief investment officer of Smead Capital Management. “The excesses of this bull market are in the glam techs,” Smead said on CNBC’s “Closing Bell,” referring to names like Amazon, […]
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Telegram is holding a secretive second pre-ICO sale
You have to admire Pavel Durov’s audacity. Over the past few months, the CEO of Telegram convinced 81 accredited investors, including Silicon Valley giants Sequoia Capital and Benchmark, to give him $850 million in a presale of his company’s cryptocurrency in advance of an initial coin offering, or ICO. Now […]
Kylie Jenner slams Snap redesign on Twitter, then Twitter bots pile on
Reality TV star Kylie Jenner added her voice to a growing chorus criticizing Snapchat’s redesign on Wednesday: @KylieJenner tweet People have criticized the app for blurring separate features together and promoting sponsored content. Analysts on Citi downgraded the stock of parent company Snap on Tuesday, contributing to a stock drop […]
Stocks making the biggest moves after hours: Roku, Pandora & more
Check out the companies making headlines after the bell: Roku stock plunged more than 20 percent after the bell. The digital streaming device maker beat Wall Street expectations for fourth quarter revenue, but issued weak revenue guidance for the coming quarter. Roku said sales in the first quarter will be […]
Watch Trump meet with people affected by school shootings
[The stream is slated to start at 4:15 p.m., ET. Please refresh the page if you do not see a player above at that time.] President Donald Trump meets Wednesday with people affected by American school shootings. Trump will listen to possible solutions for gun control and school safety following […]
Amazon closes up 1% after stock soars past $1,500 for the first time
Amazon shares hit a new all-time high on Wednesday, surpassing $1,500 for the first time. The stock closed up about 1 percent at $1,482.92, after hitting $1,503.49 a share, the highest level since the e-commerce company’s initial public offering in 1997, according to FactSet. Amazon has built more support from […]
Rising bond yields stomp out a sharp stock rally
Stocks and bonds duked it out over how to interpret the Fed’s latest minutes, and it seems the bond market is winning. The Fed signaled in its latest meeting minutes that it will continue to raise rates, but stocks initially rallied on a seeming silver lining in that the Fed […]
Homeownership is increasingly for the wealthy
The sharp drop in January home sales was not due to a shortage of homes for sale. It was due to a shortage of affordable homes for sale. While real estate economists continue to blame the pitiful 3.4-month supply of total listings (a six-month supply is considered a balanced market), […]
SEC publishes updated guidance on cyber breach disclosure
The U.S. Securities and Exchange Commission published on Wednesday updated guidance on how public companies should disclose cyber security risks and breaches. The SEC unanimously approved the additional guidance Tuesday, saying it would promote “clearer and more robust disclosure” by companies facing cyber security issues, according to Chairman Jay Clayton. […]
Bill Gates has paid over $10 billion in taxes but says he should pay more
Billionaire Microsoft co-founder Bill Gates is worth an estimated $91.8 billion, and he pays billions in taxes to the federal government. But he says he should be paying even more. “I need to pay higher taxes,” he told CNN’s Fareed Zakaria during a recent interview. “I’ve paid more taxes, over […]