The U.S. economy is expected to strengthen next year, in part because of the government stimulus proposed at by President-elect Donald Trump, but job growth is likely to slow as the recovery approaches its eighth anniversary, according to a recent survey of economists.
The economy is projected to grow at a 2.3% annual rate in 2017, up from an estimated 1.6% this year, according to the average....More>>>
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Jeffrey Hurd will be taking over as the chief operating officer at AXA Equitable Life Insurance April 1, according to AXA Equitable.
Hurd has been working for American International Group Inc., in a series of positions, since 1998.
Check out the companies making headlines before the bell:
Bank of America The bank reported quarterly profit of 62 cents per share, 3 cents a share above estimates, with revenue also above forecasts. The bank’s results were helped by improved loan growth and deposits, among other factors.
WPP Group WPP founder and Chief Executive Officer Martin Sorrell has stepped down. Two....More>>>
Sometimes when you want to find out how someone you admire ticks, you ask them whom they respect. When it comes to super-investor Warren Buffett, the answer (among others) is Jack Bogle, the founder of the Vanguard Group.
Bogle should be awarded the Nobel Prize in Economics for bringing the passive index fund into the world. This vehicle simply holds a basket of securities at very low cost.....More>>>
Investment company Abrams Capital Management buys Time Warner Inc, PG&E Corp, Suburban Propane Partners LP, Keryx Biopharmaceuticals Inc, sells Barnes & Noble Education Inc during the 3-months ended 2017-12-31, according to the most recent filings of the investment company, Abrams Capital Management. As of 2017-12-31, Abrams Capital Management owns 20 stocks with a total value of $3 billion.....More>>>
Solar stocks were on fire Thursday after Sunrun Inc (NASDAQ:RUN) reported earnings and California mandated solar on all new homes. Sunrun jumped as much as 19.7% while Vivint Solar Inc (NYSE:VSLR), Enphase Energy Inc (NASDAQ:ENPH), and SolarEdge Technologies Inc (NASDAQ:SEDG) were up 12.5%, 15.6%, and 16.3% respectively at their highs for the day.
Sunrun’s first quarter....More>>>
Qualcomm Inc. (NASDAQ: QCOM) reported second fiscal quarter 2017 results after markets closed on Wednesday. The chipmaker posted adjusted diluted earnings per share (EPS) of $1.34 and adjusted revenues of $6 billion. In the second quarter of 2016, Qualcomm reported EPS of $1.04 on revenues of $5.55 billion. The consensus analysts’ estimates called for EPS of $1.19 and $5.9 billion in revenue.
Butler to Replace Booth as Co-CEO of Dimensional Fund Advisors
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The Financial Industry Regulatory Authority launched its new Academic Corporate Bond TRACE Data product, an enhanced historical data product available solely to institutions of higher education.
The new product....More>>>
Image source: Twitter, copyright Aaron Durand (@everydaydude) for Twitter, Inc.
When Twitter (NYSE:TWTR) released its third-quarter earnings results, it announced plans to lay off 9% of its workforce. The move was part of an effort to become profitable in 2017. Twitter lost $103 million in the third quarter and $290 million through the first nine months of the year.
Almost exactly a year ago, Micron’s (NASDAQ:MU) CFO, Ernie Maddock, stood up at a Citi investor conference and pre-released earnings. I was there, and the roomful was surprised – at the number and at the new found transparency. Now Micron has just completed what will be another excellent 4th quarter, and I believe Ernie will do another pre-announcement at this week’s Citi conference....More>>>