Zuckerberg Loses $3.3 Billion After Facebook Change

Facebook co-founder Mark Zuckerberg is paying the price for the latest changes to the social networking site, losing nearly $3.3 billion of his personal net worth, according to a Forbes calculation. The 4.4 percent drop came just after Zuckerberg’s announcement that Facebook would change its algorithm to make people’s news feeds more focused on friends and… Please follow and like us:

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JPMorgan Chase & Co. Q4 2017 Earnings Beat Estimates

The JPMorgan Chase & Co. Q4 2017 earnings results were released before opening bell this morning. The bank reported adjusted earnings of $1.76 per share on $25.45 billion in revenue, compared to the consensus estimates of $1.69 per share and $25.17 billion in revenue. In the previous year’s fourth quarter, the bank reported $1.71 per share… Please follow and like us:

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Most Asia markets down after New Year rally but Hong Kong runs on

The rally across Asia that welcomed in 2018 looked to have run out of steam on Wednesday with most markets slipping into the red on profit-taking but energy shares climbed with another surge in oil prices. Strong economic fundamentals and corporate earnings as well as optimism about the impact of Donald Trump’s massive US tax cuts… Please follow and like us:

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GoPro predicts revenue slump and slashes workforce; stock plunges

Camera maker GoPro Inc. is getting out of the drone business, laying off more than 20 percent of its workforce and losing two executives after predicting a sharp decline in its fourth-quarter revenue and disclosing weak holiday-season demand for its cameras. The disappointing outlook sent shares plummeting nearly 30 percent to an all-time low of $5.32… Please follow and like us:

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Trump Rally: The 2018 Sequel? Dow breaks 25,000, heads higher

WASHINGTON, January 6, 2018: During the last two weeks of December 2017, we and our portfolios were essentially out of action. From the looks of it, most investors deserted the field as well, save for a small but intrepid band of tax-loss sellers, shorts and permabears, all of whom enjoyed hammering the market down whenever they… Please follow and like us:

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What can Qualcomm do to fend off Broadcom?

When Broadcom proposed ousting Qualcomm’s board of directors on Dec. 4, it set in motion a high-stakes chess match for control of San Diego’s most iconic technology company. The outcome could reverberate not only locally, but throughout the tech industry — possibly changing the landscape for firms such as Apple, Google, Microsoft and Intel. Qualcomm invented… Please follow and like us:

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Playboy is considering ending its print magazine, report says

LOS ANGELES — Newsstands soon could be stripped of one of the nation’s most iconic publications: Playboy magazine. Playboy Enterprises Inc. reportedly is considering killing the print magazine, which was started more than six decades ago by Hugh Hefner, who died in September. Famous for its racy images of naked women, the magazine launched Hefner’s Beverly… Please follow and like us:

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Netflix raises executive salaries, proving that ‘performance-based’ pay always was a sham

The big news Friday on the executive compensation front was that Netflix is converting some of its “performance-based” pay for its top executives to straight salaries, thanks to the recently-passed tax bill. But people may be taking the wrong lesson from the change. On the surface, it looks like the five executives covered by the change… Please follow and like us:

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Goldman Sachs says US tax reform to cut earnings by $5 bn

US banking giant Goldman Sachs said Friday the recently-enacted US tax reform will cut its earnings this year by about $5 billion, mainly because of a tax targeting earnings held abroad. The tax reform package is expected to “result in a reduction of approximately $5 billion in earnings for the fourth quarter,” the company said in… Please follow and like us:

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Apple CEO Tim Cook Uses Private Jet For All Travel

Being the head of the most profitable company in the world has its perks. Apple CEO Tim Cook reportedly does all his traveling—both personal and business related—using private jets, AppleInsider reported. The decision to fly private is undoubtedly a luxury but Cook actually doesn’t have much say in the matter. Apple’s board of directors mandates that… Please follow and like us:

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Goldman Sachs Explains “Rational Exuberance”

The stock market is going to rise a healthy 8% in 2018, predicts Goldman Sach’s Chief US Equity Strategist David Kostin, but the technology sector might not be the tailwind it once was. Driving the move higher will be a “rational” increase in earnings per share, driven to a degree by tax cuts, which benefit large… Please follow and like us:

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AAPL Stock Rebounds After Apple Buying Shazam Report

Apple is reportedly closing in on a deal to purchase the audio recognition app Shazam—a popular app that can identify music, television show, movie or advertisement by listening to an audio clip—according to TechCrunch. No official price has been made public, though the deal is believed to be in the nine-figure range and has been rumored… Please follow and like us:

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CVS, Aetna shares fall after acquisition deal

Shares of CVS Health and Aetna fell Monday morning after Sunday’s announcement of its $69 billion deal for pharmacy company CVS to acquire health insurer Aetna. CVS shares were down 4.9 percent at $71.45 in early trading. Shares of Aetna were down 0.5 percent at $180.40 after an early morning jump. The deal would combine the… Please follow and like us:

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SoftBank The Next Berkshire Or Valeant?

SoftBank has an odd relationship with Uber. At one point SoftBank bought shares directly from the ride-sharing company at a $68 billion valuation, then tendered shares at a $50 billion valuation. But for AB Bernstein analyst Chris Lane, this dichotomy isn’t a concern about investing in SoftBank and its Vision fund. The tech soothsayers in Japan… Please follow and like us:

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Uber board agrees to clear path for SoftBank investment, reports say

Uber’s board agreed Sunday to a deal opening the way for a consortium of investors led by Japanese conglomerate SoftBank to buy a significant stake in the ride-hailing company, moving Uber toward going public, according to press reports. The Softbank-led consortium’s investment in Uber could be worth up to $10 billion, Reuters reported, citing two unidentified… Please follow and like us:

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