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Monthly Archives: October 2019

Fisher Investments losses hit $1.8B as Fidelity ends $500M relationship

Ken Fisher Crystal Mercedes | CNBC Fidelity has terminated a $500 million relationship with Fisher Investments, bringing the total yanked from the money manager to almost $1.8 billion. Officials at the giant Boston-based asset manager confirmed it would end its relationship with Fisher on Monday, in light of inappropriate comments …

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McDonald’s and UPS earnings and economic data

Big Mac hamburger and french fries are pictured in a McDonalds fast food Ben Stansall | Getty Images Here are the most important things to know about Tuesday before you hit the door. 1. McDonald’s earnings Fast-food chain McDonald’s reports third-quarter earnings before the bell on Tuesday. Stephens is forecasting …

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‘It can be a precursor to layoffs and a recession’

As corporate earnings reports roll in, analysts are keeping a close eye on profit margins as a possible early warning signal for the markets and economy. Profit margins are showing some signs of contraction, but Ned Davis Research analysts say there’s no broad deterioration yet, and they expect margins to …

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It’s time to take profits in Philip Morris if it reaches this level

Tobacco stocks have been hot this month, with Altria rallying more than 10% and Philip Morris adding 7%. This comes as the S&P 500 has advanced just 1%. But Bill Baruch, president of Blue Line Capital, says one stock’s rally could be about to hit a wall. “Taking a look at Philip …

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Millionaires now hold nearly half of the world’s wealth

The number of millionaires in the world grew to nearly 47 million over the past year, and they now own close to half of the world’s wealth, according to a new study. Despite the trade wars, slowing global growth and the volatile stock markets, the total number of millionaires in …

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Democrats’ wealth tax plans give Wall Street ‘lots to worry about’

Senator Elizabeth Warren (D-MA), a 2020 US Presidential hopeful, speaks during the ‘We The People’ Summit at the Warner Theatre April 1, 2019, in Washington, DC. Brendan Smialowski | AFP | Getty Images One Wall Street economist on Monday warned clients about the tax proposals touted by Democratic presidential hopefuls …

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The number of workers on strike hits the highest since the 1980s

Striking United Auto Workers member Anesha Towell keeps warm at a burn barrel while picketing at the General Motors Detroit-Hamtramck Assembly in Detroit, Michigan, October 17, 2019. Rebecca Cook | Reuters With unemployment rates at record lows, the number of people who have gone on strike in the U.S. has …

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This small stock may have just won earnings season already surging 31% in a single day

A woman takes a selfie with a dog Ezequiel Becerra | AFP | Getty Images A company responsible for keeping pets healthy may have just won earnings season. PetMed Express soared more than 30% on Monday after the online pet pharmacy said its quarterly profit topped Wall Street’s estimates. The …

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Average billionaire’s death means a $165 million windfall for states

If Amazon CEO Jeff Bezos were to unexpectedly die today, Washington state could expect an estate tax windfall of nearly $12 billion, raising its total annual revenue by more than 50% for a single year. That’s according to a new study on the costs and benefits of an estate tax …

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Chipotle could reach $1,000 a share after earnings, says chart analyst

It might be time to take a bite out of Chipotle. Charts of the fast-casual restaurant chain’s stock show Chipotle consolidating above a key area of support, and if that holds, it could be a straight shot to $1,000 per share, says Bill Baruch, founder and president of commodity trading …

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