Month: November 2019

Morgan Stanley headquarters in Times Square, New York. Source: Morgan Stanley At least four traders at New York-based Morgan Stanley have been fired or placed on leave after reportedly concealing a loss of between $100 million and $140 million, a new report from Bloomberg News said. The traders in question allegedly mismarked, or purposely mis-priced, some
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As it pierces through its previous high-water mark set in April, Lowe’s Companies (NYSE:LOW) stock seems to be demonstrating the resilience of some (though certainly not all) brick-and-mortar retailers in the face of the disruptive Amazon (NASDAQ:AMZN) threat. Source: Helen89 / Shutterstock.com With this encouraging price action comes a caveat, though, as recent store closings
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While the equity market bulls continue to enjoy a rout of new highs, those in the metals complex are likely feeling left out. Gold (GLD) has sunk 7% from its August highs near $1,560/oz, and silver (SLV) has fared much worse, with a 15% drawdown from those highs. This has likely been a grueling experience
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U.S. equities are pushing to new record highs this week thanks to more indications that a Phase One trade deal between the United States and China is forthcoming. A number of big M&A deals have bolstered sentiment as well, including a $26 billion deal by Charles Schwab (NYSE:SCHW) to buy TD Ameritrade (NASDAQ:AMTD) and a
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Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Robinhood is no longer looking to become a federally insured bank. The stock-trading start-up announced Wednesday that it was pulling its bank charter application with the Office of the
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An interesting study by UBS and PricewaterhouseCoopers shows that billionaire-controlled companies delivered 15-year annualized total returns of 17.8%, almost twice the returns of the MSCI ACWI index over the same period. The authors of the study call this the “billionaire effect,” suggesting that billionaires have three personality traits that carry them to success: smart risk-taking,
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Earlier this week, Canopy Growth Corp (CGC) announced it had won a license to produce cannabis-infused beverages in Canada. Health Canada — the country’s cannabis industry regulator – granted the license just in time for the rollout of Canada’s highly-anticipated Rec 2.0, when cannabis edibles and derivative will finally become available for retail sale. “This
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Byron Wien Olivia Michael | CNBC The stock market’s rally may be far from over as low interest rates keep valuations in an attractive place, according to Wall Street legend Byron Wien. “People complain that the market is overvalued but … with these interest rates, the market is really below fair value,” Wien, vice chairman
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Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, November 20, 2019. Tom Brenner | Reuters Economists are boosting their fourth quarter growth forecasts after the trade deficit narrowed and business investment showed a surprise pickup in October. The CNBC/Moody’s Analytic’s rapid update of economists forecasts showed a median
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