Month: August 2019

A financial advisory firm has been charged by the Securities and Exchange Commission with defrauding former professional football players. Former principals of Cambridge Capital Group Advisors, Philip Timothy Howard and Don Warner Reinhard, allegedly took more than $4 million from around 20 retired NFL players to invest in private hedge funds managed by the Tallahassee,
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Pedestrians pass in front of the Tiffany & Co. flagship store on Fifth Avenue in New York, U.S., on Saturday, Nov. 26, 2016. Mark Kauzlarich | Bloomberg | Getty Images Tiffany & Co. on Wednesday reported quarterly earnings that topped analysts’ expectations but sales that missed, also maintaining its previously lowered outlook for the full
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Jack Dorsey, chief executive officer and co-founder of Square Inc., speaks during a Bloomberg Television interview on Wednesday, Aug. 2, 2017. Bloombeg | Getty Images Twitter CEO Jack Dorsey’s account on the social network was compromised on Friday and began sending out erratic tweets. Dorsey’s account began sending a flurry of tweets, including some with
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Holiday shoppers at a Target store in Culver City, California. Mark Ralston | AFP | Getty Images Despite retailers banking on acceleration in the fourth-quarter from holiday sales, Wells Fargo said fundamental trends have deteriorated. “While the majority of companies appear optimistic on their ability to drive solid growth in [the fourth quarter of 2019],
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Cans of Campbell Soup Co. Campbell’s chicken noodle and tomato soup. Andrew Harrer | Bloomberg | Getty Images U.S. food company Campbell Soup reported better-than-expected fourth-quarter profit, benefiting from cost cuts, sending shares up 5% before the bell. To better focus on its mainstream soup and snack businesses, Campbell has been streamlining its operations by
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Former New York Fed President Bill Dudley‘s push for the central bank to consider the 2020 election when crafting monetary policy is “grossly irresponsible” behavior, economist Larry Summers told CNBC on Thursday. Dudley, in a Wednesday post on Bloomberg, suggested the Federal Reserve could, and should, try to sway the election against President Donald Trump.
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Best Buy shares fell 6.5% after its second-quarter revenue and same-store sales growth missed analysts’ expectations and upcoming tariffs on the company’s core products weigh on the stock.  Investors were pessimistic Thursday morning, focusing on both the sales miss and a narrower estimate for same-store sales, driven by disappointing sales in Canada. However, the company
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KTSDESIGN | Science Photo Library | Getty Images Hackers are increasingly targeting the education industry, leaving students’ information vulnerable to identity theft and other types of fraud. Colleges, training providers and other private educational companies received more malicious emails than any other sector in the first quarter of 2019, according to Mimecast, an email and
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Despite recent recession fears and yield curve inversions, the bull market should live on until early 2021, analyst Tom McClellan said Thursday on CNBC’s “Closing Bell. “ “Everyone needs to just keep their pants on for now and realize that the yield curve gives a really long early warning about trouble,” said McClellan, editor of the
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Check out the companies making headlines before the bell: Best Buy – The electronics retailer reported adjusted quarterly profit of $1.08 per share, 9 cents above estimates, and the company also raised its full-year earnings forecast. However, revenue and comparable store sales did fall below estimates for the most recent quarter. Abercrombie & Fitch –
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