Bloomberg | Getty Images Amid concerns about trade wars and political dysfunction, the wealthiest investors are padding their cash cushions. Members of TIGER 21, a group of more than 600 individuals with at least $10 million to invest, increased their allocation toward cash and cash equivalents to 12% from 10% during the first quarter, according
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A technician checks on a stack of wafers at the Applied Materials facility in Santa Clara, California. David Paul Morris | Bloomberg | Getty Images Applied Materials forecast third-quarter profit and revenue above estimates and reported better-than-expected quarterly results on Thursday, allaying investor concerns about slowing semiconductor demand. Shares of the company rose nearly 6%
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Michael Roman, CEO, 3M Scott Mlyn | CNBC Shares of industrial products maker 3M have been hit hard since the company’s disappointing first-quarter earnings report in April, and J.P. Morgan warned investors on Friday that there is more pain to come. J.P. Morgan analyst Stephen Tusa said in a note that 3M’s “premium valuation is unjustified by
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Adam Neumann, co-founder and chief executive officer of WeWork. Michael Nagle | Bloomberg | Getty Images As newly public companies representing the sharing economy, Uber and Lyft stumbled out of the gate. WeWork is trying to prepare a different narrative for Wall Street. In an interview with CNBC to discuss the company’s first-quarter financials, CFO
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Walmart on Thursday reported earnings that topped analysts’ expectations but sales came up short, as international revenues declined with currency headwinds dragging on its business overseas. E-commerce sales grew 37%, boosted by its home and fashion businesses, Walmart said. That was better than online sales growth of 33% a year ago, but moderated from a
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