Soaring tech stocks are not in a 1990s-type dotcom bubble, says longtime bull Jeremy Siegel

The stock market is “very fairly valued” at current soaring levels, the longtime bull said on “Fast Money Halftime Report,” adding the high-flying tech sector is not in danger of overheating. “I just looked up the P-E ratio of the tech sector on estimated 2017 earnings of the S&P 500. We have a few of those that are really over 100” in their price-to-earnings ratios, he acknowledged but pointed out Apple’s P-E ratio is still under 20. “Back in 1999, the tech sector of the S&P 500 had a P-E ratio


The stock market is “very fairly valued” at current soaring levels, the longtime bull said on “Fast Money Halftime Report,” adding the high-flying tech sector is not in danger of overheating. “I just looked up the P-E ratio of the tech sector on estimated 2017 earnings of the S&P 500. We have a few of those that are really over 100” in their price-to-earnings ratios, he acknowledged but pointed out Apple’s P-E ratio is still under 20. “Back in 1999, the tech sector of the S&P 500 had a P-E ratio
Soaring tech stocks are not in a 1990s-type dotcom bubble, says longtime bull Jeremy Siegel Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: matthew j belvedere
Keywords: news, games, cnbc, companies, way, longtime, danger, stock, sp, tech, ratio, 1990stype, soaring, bull, siegel, bubble, sector, jeremy, market, stocks, pe, dotcom


Soaring tech stocks are not in a 1990s-type dotcom bubble, says longtime bull Jeremy Siegel

There are “a lot of momentum players” in the stock market, but overall they’re not driving the action, as they did in the 1990s before the dotcom bubble burst, Wharton School finance professor Jeremy Siegel told CNBC on Friday.

The stock market is “very fairly valued” at current soaring levels, the longtime bull said on “Fast Money Halftime Report,” adding the high-flying tech sector is not in danger of overheating.

“I just looked up the P-E ratio of the tech sector on estimated 2017 earnings of the S&P 500. It’s still under 20,” Siegel said.

“We have Amazon. We have Netflix. We have a few of those that are really over 100” in their price-to-earnings ratios, he acknowledged but pointed out Apple’s P-E ratio is still under 20.

“Back in 1999, the tech sector of the S&P 500 had a P-E ratio of 90,” Siegel pointed out. “Are we in danger of overheating? There’s always that danger. But are we in a danger zone yet? I don’t think so.”

But with the momentum in the market, some stocks are subject to declines when the pendulum swings the other way, Siegel said.

Over the past six trading sessions, the Dow Jones industrial average, S&P, and Nasdaq closed higher each day. The S&P and Nasdaq logged records on Thursday, and the Dow finished within 32 points of an all-time high heading into Friday’s session and the long Memorial Day weekend.

As for the overall market, “the dollar being down is very positive” and so is the 10-year Treasury yield of about 2.25 percent, Siegel said.

“Stocks are still the place to be for investors,” he said, predicting gains of about 7 percent annually. The S&P was up about 7.8 percent for 2017 as of Thursday’s close.

Siegel also said, “U.S. citizens are underinvested abroad.”

“We economists have talked about it. It’s called the home equity basis,” he said. “People just feel uncomfortable investing abroad. By the way, that’s true around the world.”


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: matthew j belvedere
Keywords: news, games, cnbc, companies, way, longtime, danger, stock, sp, tech, ratio, 1990stype, soaring, bull, siegel, bubble, sector, jeremy, market, stocks, pe, dotcom


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Boehner: Trump’s term ‘disaster,’ aside from foreign affairs

Former House Speaker John Boehner says that aside from international affairs and foreign policy, President Donald Trump’s time in office has so far been a “complete disaster.” “Everything else he’s done (in office) has been a complete disaster,” the Ohio Republican said, according to the publication. Boehner said he’s been friends with Trump for 15 years, but still has a hard time envisioning him as president. Boehner said that while Republicans would fix some problems of Obama’s law, repeal and


Former House Speaker John Boehner says that aside from international affairs and foreign policy, President Donald Trump’s time in office has so far been a “complete disaster.” “Everything else he’s done (in office) has been a complete disaster,” the Ohio Republican said, according to the publication. Boehner said he’s been friends with Trump for 15 years, but still has a hard time envisioning him as president. Boehner said that while Republicans would fix some problems of Obama’s law, repeal and
Boehner: Trump’s term ‘disaster,’ aside from foreign affairs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: david paul morris, bloomberg, getty images
Keywords: news, games, cnbc, companies, republican, disaster, tax, according, foreign, affairs, hallelujah, hes, trumps, aside, trump, talk, speaker, term, boehner, president


Boehner: Trump’s term ‘disaster,’ aside from foreign affairs

Former House Speaker John Boehner says that aside from international affairs and foreign policy, President Donald Trump’s time in office has so far been a “complete disaster.”

Speaking at an energy conference Thursday in Houston, Boehner praised Trump for his approach abroad and his aggressiveness in fighting Islamic State militants, according to the energy publication Rigzone.

“Everything else he’s done (in office) has been a complete disaster,” the Ohio Republican said, according to the publication. “He’s still learning how to be president.”

Boehner said he’s been friends with Trump for 15 years, but still has a hard time envisioning him as president. He also said Trump shouldn’t be allowed to Tweet overnight.

David Schnittger, a spokesman for Boehner, confirmed the comments on Friday.

According to Rigzone, Boehner said that the Republican tax reform effort “is just a bunch of happy talk” and that the border adjustment tax — a major priority for Boehner’s successor, Speaker Paul Ryan — is “deader than a doornail.” He said he was more optimistic about tax reform earlier in the year, but “now my odds are 60/40.”

Earlier this year, Boehner said he was pessimistic about another congressional Republican priority — repealing and replacing former President Barack Obama’s Affordable Care Act.

Boehner said that while Republicans would fix some problems of Obama’s law, repeal and replacement is “not going to happen.”

He added, “Republicans never ever agree on health care.”

The GOP-led House narrowly passed a bill earlier this month. The Senate has struggled to produce legislation that all in the GOP can back.

On investigations into Russia, Boehner told the Texas forum that “they need to get to the bottom of this” but said Democratic talk of impeachment is the best way to rile up Trump supporters.

Boehner made it clear he’s happier now that he’s left Capitol Hill.

“I wake up every day, drink my morning coffee and say, ‘Hallelujah, hallelujah, hallelujah,'” he said, according to Rigzone.

And unsurprisingly, Boehner said he doesn’t want to be president.

“I drink red wine. I smoke cigarettes. I golf. I cut my own grass. I iron my own clothes. And I’m not willing to give all that up to be president,” he said.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: david paul morris, bloomberg, getty images
Keywords: news, games, cnbc, companies, republican, disaster, tax, according, foreign, affairs, hallelujah, hes, trumps, aside, trump, talk, speaker, term, boehner, president


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Trump reportedly calls Germans ‘very bad,’ threatens to end German car sales

President Donald Trump has reportedly reignited tensions with his EU counterparts after calling the Germans “very bad” for their trade surplus with the U.S. The president vowed to block German car exports to the U.S. during a meeting with top EU leaders on Thursday, according to German news magazine Der Spiegel. “The Germans are bad, very bad,” Trump said, according to participants in the room who spoke to Der Spiegel. He also attempted to negotiate a bilateral trade deal with Germany when he me


President Donald Trump has reportedly reignited tensions with his EU counterparts after calling the Germans “very bad” for their trade surplus with the U.S. The president vowed to block German car exports to the U.S. during a meeting with top EU leaders on Thursday, according to German news magazine Der Spiegel. “The Germans are bad, very bad,” Trump said, according to participants in the room who spoke to Der Spiegel. He also attempted to negotiate a bilateral trade deal with Germany when he me
Trump reportedly calls Germans ‘very bad,’ threatens to end German car sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: karen gilchrist, sean gallup, getty images, getty images news
Keywords: news, games, cnbc, companies, trade, reportedly, threatens, european, germans, sales, bad, eu, trump, german, car, juncker, end, cars, calls, member, president


Trump reportedly calls Germans ‘very bad,’ threatens to end German car sales

President Donald Trump has reportedly reignited tensions with his EU counterparts after calling the Germans “very bad” for their trade surplus with the U.S.

The president vowed to block German car exports to the U.S. during a meeting with top EU leaders on Thursday, according to German news magazine Der Spiegel.

“The Germans are bad, very bad,” Trump said, according to participants in the room who spoke to Der Spiegel.

“See the millions of cars they sell in the U.S., terrible. We will stop this.”

The comments were said to have been made in a meeting with the European Commission President Jean-Claude Juncker and the European Council President Donald Tusk, who both showed support for Germany.

The White House was not available for comment when contacted by CNBC. However, Juncker dismissed the claims on Friday, saying that the German reports were exaggerated.

“He did not say that the Germans were behaving badly,” Juncker told reporters in Sicily ahead of G-7 talks.

“He was not aggressive at all and anyway we have taken the defense of the Germans,” he continued.

“I was making clear that the U.S. cannot compare their trade situation with individual member states of the European Union. They have to compare their performances with the global performances of the European Union, and I made it clear that the commission is charged with trade issues and not the member states.”

Trump has long voiced his frustrations with Germany’s trade surplus with the U.S., insisting that German imports have damaged the U.S. manufacturing industry.

In January, he threatened to slap a 35 percent tax on German auto imports.

“If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax,” he said in an interview with German newspaper Bild.

He also attempted to negotiate a bilateral trade deal with Germany when he met with German Chancellor Angela Merkel in March. However, she insisted that all deals with EU member countries must be made multilaterally.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: karen gilchrist, sean gallup, getty images, getty images news
Keywords: news, games, cnbc, companies, trade, reportedly, threatens, european, germans, sales, bad, eu, trump, german, car, juncker, end, cars, calls, member, president


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Egypt attack: Coptic Christians killed on bus heading to monastery

Gunmen attacked buses and a truck taking a group of Coptic Christians to a monastery in southern Egypt on Friday, killing 26 people and wounding 25 others, witnesses and the Health Ministry said. The grand imam of al-Azhar, Egypt’s 1,000-year-old centre of Islamic learning, said the attack was intended to destabilise the country. The Health Ministry put the toll at 26 dead and 25 wounded. About 70 have been killed since December in bomb attacks on churches in the cities of Cairo, Alexandria and


Gunmen attacked buses and a truck taking a group of Coptic Christians to a monastery in southern Egypt on Friday, killing 26 people and wounding 25 others, witnesses and the Health Ministry said. The grand imam of al-Azhar, Egypt’s 1,000-year-old centre of Islamic learning, said the attack was intended to destabilise the country. The Health Ministry put the toll at 26 dead and 25 wounded. About 70 have been killed since December in bomb attacks on churches in the cities of Cairo, Alexandria and
Egypt attack: Coptic Christians killed on bus heading to monastery Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: egypt tv via reuters
Keywords: news, games, cnbc, companies, gunmen, attacks, egypt, ministry, truck, christians, state, monastery, heading, attack, killed, egypts, health, bus, coptic, islamic


Egypt attack: Coptic Christians killed on bus heading to monastery

Gunmen attacked buses and a truck taking a group of Coptic Christians to a monastery in southern Egypt on Friday, killing 26 people and wounding 25 others, witnesses and the Health Ministry said.

An Interior Ministry spokesman said the unidentified gunmen had arrived in three four-wheel-drive vehicles.

Eyewitnesses said masked men stopped the two buses and a truck and opened fire on a road leading to the monastery of Saint Samuel the Confessor in Minya province, which is home to a sizeable Christian minority.

Security forces launched a hunt for the attackers, setting up dozens of checkpoints and patrols on the desert road.

The grand imam of al-Azhar, Egypt’s 1,000-year-old centre of Islamic learning, said the attack was intended to destabilise the country.

“I call on Egyptians to unite in the face of this brutal terrorism,” Ahmed al-Tayeb said from Germany, where he was on a visit.

President Abdel Fattah al-Sisi called a meeting of security officials, the state news agency said. The Health Ministry put the toll at 26 dead and 25 wounded.

Coptic Christians, who make up about 10 percent of Egypt’s population of 92 million, have been the subject of a series of deadly attacks in recent months.

About 70 have been killed since December in bomb attacks on churches in the cities of Cairo, Alexandria and Tanta.

Those attacks were claimed by Islamic State. There was no immediate claim of

responsibility for Friday’s attack.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: egypt tv via reuters
Keywords: news, games, cnbc, companies, gunmen, attacks, egypt, ministry, truck, christians, state, monastery, heading, attack, killed, egypts, health, bus, coptic, islamic


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Norwegian Cruise Line to rally 20% on improving demand, analyst says

Investors should buy Norwegian Cruise Line shares because it will report earnings above Wall Street expectations next year, according to Wedbush Securities, which raised its rating on the company to outperform from neutral. “We believe that as European trends normalize and the handwringing surrounding the Chinese (Norwegian Joy) launch subsides, shares will resume their upward move,” analyst James Hardiman wrote in a note to clients Friday. “The biggest opportunity with the stock remains its ane


Investors should buy Norwegian Cruise Line shares because it will report earnings above Wall Street expectations next year, according to Wedbush Securities, which raised its rating on the company to outperform from neutral. “We believe that as European trends normalize and the handwringing surrounding the Chinese (Norwegian Joy) launch subsides, shares will resume their upward move,” analyst James Hardiman wrote in a note to clients Friday. “The biggest opportunity with the stock remains its ane
Norwegian Cruise Line to rally 20% on improving demand, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: tae kim, paul marotta, getty images, robert daemmrich photography, corbis, adam jeffery, source, david paul morris, bloomberg, michael nagle
Keywords: news, games, cnbc, companies, demand, norwegian, weak, line, shares, joy, wedbush, wrote, believe, multiple, analyst, 20, rally, investors, wall, cruise, improving


Norwegian Cruise Line to rally 20% on improving demand, analyst says

Investors should buy Norwegian Cruise Line shares because it will report earnings above Wall Street expectations next year, according to Wedbush Securities, which raised its rating on the company to outperform from neutral.

“We believe that as European trends normalize and the handwringing surrounding the Chinese (Norwegian Joy) launch subsides, shares will resume their upward move,” analyst James Hardiman wrote in a note to clients Friday. “The biggest opportunity with the stock remains its anemic valuation multiple; as investors regain confidence in the Norwegian management team, we believe the multiple will expand.”

Norwegian’s Joy ship is slated to begin sailing from China in June and had weak initial bookings due to rising geopolitical tensions over North Korea.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: tae kim, paul marotta, getty images, robert daemmrich photography, corbis, adam jeffery, source, david paul morris, bloomberg, michael nagle
Keywords: news, games, cnbc, companies, demand, norwegian, weak, line, shares, joy, wedbush, wrote, believe, multiple, analyst, 20, rally, investors, wall, cruise, improving


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Here are the 10 most important stories for investors Friday morning

A daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY-Stock futures are down after another broad rally Thursday. We get durable goods data today as well as the revised first-quarter GDP numbers. -Traders are closely watching to see if Amazon will break $1,000 per share today. OIL/ENERGY-U.S. crude prices are down and at the $48 a barrel level after Thursday’s big selloff.


A daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY-Stock futures are down after another broad rally Thursday. We get durable goods data today as well as the revised first-quarter GDP numbers. -Traders are closely watching to see if Amazon will break $1,000 per share today. OIL/ENERGY-U.S. crude prices are down and at the $48 a barrel level after Thursday’s big selloff.
Here are the 10 most important stories for investors Friday morning Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: jake novak, paul marotta, getty images, robert daemmrich photography, corbis, adam jeffery, source, david paul morris, bloomberg, michael nagle
Keywords: news, games, cnbc, companies, revised, important, watching, share, prices, morning, today, selloff, thursdays, start, todayoilenergyus, rally, investors


Here are the 10 most important stories for investors Friday morning

A daily morning look at the financial stories you need to know to start the day.

STOCKS/ECONOMY

-Stock futures are down after another broad rally Thursday. We get durable goods data today as well as the revised first-quarter GDP numbers.

-Traders are closely watching to see if Amazon will break $1,000 per share today.

OIL/ENERGY

-U.S. crude prices are down and at the $48 a barrel level after Thursday’s big selloff.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: jake novak, paul marotta, getty images, robert daemmrich photography, corbis, adam jeffery, source, david paul morris, bloomberg, michael nagle
Keywords: news, games, cnbc, companies, revised, important, watching, share, prices, morning, today, selloff, thursdays, start, todayoilenergyus, rally, investors


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Glass Lewis recommends Buffalo Wild Wings’ board nominees

Proxy adviser Glass Lewis recommended shareholders of Buffalo Wild Wings to vote for the company’s slate of directors, saying activist hedge fund Marcato Capital had failed to make a compelling case for making changes to the board. Glass Lewis’s recommendation on Friday comes two days after another adviser, Institutional Shareholder Services (ISS), recommended voting for Marcato’s nominees. Marcato, which owns a 6.1 percent stake in Buffalo Wild Wings, launched a proxy fight in February, nominat


Proxy adviser Glass Lewis recommended shareholders of Buffalo Wild Wings to vote for the company’s slate of directors, saying activist hedge fund Marcato Capital had failed to make a compelling case for making changes to the board. Glass Lewis’s recommendation on Friday comes two days after another adviser, Institutional Shareholder Services (ISS), recommended voting for Marcato’s nominees. Marcato, which owns a 6.1 percent stake in Buffalo Wild Wings, launched a proxy fight in February, nominat
Glass Lewis recommends Buffalo Wild Wings’ board nominees Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: source, buffalo wild wings
Keywords: news, games, cnbc, companies, wings, recommends, buffalo, recommended, nominated, hedge, nominees, board, glass, marcato, wild, proxy, lewis


Glass Lewis recommends Buffalo Wild Wings' board nominees

Proxy adviser Glass Lewis recommended shareholders of Buffalo Wild Wings to vote for the company’s slate of directors, saying activist hedge fund Marcato Capital had failed to make a compelling case for making changes to the board.

Glass Lewis’s recommendation on Friday comes two days after another adviser, Institutional Shareholder Services (ISS), recommended voting for Marcato’s nominees.

Marcato, which owns a 6.1 percent stake in Buffalo Wild Wings, launched a proxy fight in February, nominating four directors for the nine-member board.

“We believe the dissident’s nominees, other than the one also nominated by the company, either have experience that would not be additive to the refreshed board or potential conflicts which weakens their candidacies,” Glass Lewis said in a report.

ISS has put its weight behind Marcato nominees Mick McGuire, the hedge fund’s founder, and Scott Bergren, the former chief executive of Yum Brands’ restaurant chain, Pizza Hut.

It has also backed Sam Rovit, a former Kraft Foods’ executive, who has been nominated by both Marcato and the company.

ISS did not recommend support for Lee Sanders, the former chief development officer at TGI Fridays.

Buffalo Wild Wings will hold its annual meeting on June 2.


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: source, buffalo wild wings
Keywords: news, games, cnbc, companies, wings, recommends, buffalo, recommended, nominated, hedge, nominees, board, glass, marcato, wild, proxy, lewis


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The highest paid CEOs by state

Here are the top-paid CEOs by state for 2016, as calculated by The Associated Press and Equilar, an executive data firm. It includes CEOs who have been in place for at least two years. Not every state had a publicly traded company headquartered there that was large enough to be included. To calculate CEO pay, Equilar adds salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks. Virginia: Marty Barrington, Altria Group, $24.2 mi


Here are the top-paid CEOs by state for 2016, as calculated by The Associated Press and Equilar, an executive data firm. It includes CEOs who have been in place for at least two years. Not every state had a publicly traded company headquartered there that was large enough to be included. To calculate CEO pay, Equilar adds salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks. Virginia: Marty Barrington, Altria Group, $24.2 mi
The highest paid CEOs by state Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: justin solomon
Keywords: news, games, cnbc, companies, brian, highest, state, group, millionnew, paid, wynn, million, ceo, david, ceos


The highest paid CEOs by state

Here are the top-paid CEOs by state for 2016, as calculated by The Associated Press and Equilar, an executive data firm.

The survey considered only publicly traded companies with more than $1 billion in revenue that filed their proxy statements with federal regulators between Jan. 1 and May 1. It includes CEOs who have been in place for at least two years. Not every state had a publicly traded company headquartered there that was large enough to be included.

To calculate CEO pay, Equilar adds salary, bonus, stock awards, stock option awards, deferred compensation and other components that include benefits and perks.

The typical CEO in the Standard & Poor’s 500 index made $11.5 million last year.

Alabama: Grayson Hall, Regions Financial, $8 million

Arizona: Richard C. Adkerson, Freeport-McMoRan, $14 million

Arkansas: Doug McMillon, Wal-Mart Stores, $22.4 million

California: Robert A. Iger, Walt Disney, $41 million

Colorado: Greg Maffei, Liberty Media and Liberty Interactive, $30.2 million

Connecticut: Tom Rutledge, Charter Communications, $98 million

Delaware: Hervé Hoppenot, Incyte, $11.8 million

Florida: Brian Jellison, Roper Technologies, $26.3 million

Georgia: Ron Clarke, Fleetcor Technologies, $21.7 million

Hawaii: Matt Cox, Matson, $3.9 million

Idaho: Darrel Anderson, IDACORP, $3.5 million

Illinois: Richard A. Gonzalez, AbbVie, $18 million

Indiana: Joseph Swedish, Anthem, $16.5 million

Iowa: Stan Askren, HNI, $5.9 million

Kansas: Michael J. Brown, Euronet Worldwide, $6.4 million

Kentucky: Greg Creed, Yum Brands, $15.4 million

Louisiana: Glen F. Post III, CenturyLink, $13.6 million

Maine: Jonathan Ayers, IDEXX Laboratories, $5.9 million

Maryland: David Zaslav, Discovery Communications, $37.2 million

Massachusetts: Jeffrey R. Immelt, General Electric, $18 million

Michigan: Mary Barra, General Motors, $22.4 million

Minnesota: Stephen J. Hemsley, UnitedHealth Group, $15.7 million

Mississippi: Joe F. Sanderson Jr., Sanderson Farms, $3.8 million

Missouri: Michael F. Neidorff, Centene Corp., $22 million

Nebraska: Fredric J. Tomczyk, TD Ameritrade Holding, $11.4 million (Tomczyk retired in September.)

Nevada: Stephen A. Wynn, Wynn Resorts, $28.2 million

New Hampshire: Tim McGrath, PC Connection, $3.9 million

New Jersey: Alex Gorsky, Johnson & Johnson, $21.9 million

New Mexico: Pat Vincent-Collawn, PNM Resources, $4 million

New York: Leslie Moonves, CBS, $68.6 million

North Carolina: Brian Moynihan, Bank of America, $15.5 million

North Dakota: David L. Goodin, MDU Resources Group, $3.3 million

Ohio: W. Nicholas Howley, TransDigm Group, $18.7 million

Oklahoma: Doug Lawler, Chesapeake Energy, $15.3 million

Oregon: Andrew C. Teich, FLIR Systems, $5.1 million (Teich is retiring in June.)

Pennsylvania: Brian L. Roberts, Comcast, $33 million

Rhode Island: Larry Merlo, CVS Health, $18.4 million

South Carolina: John D. Williams, Domtar, $7.2 million

South Dakota: David R. Emery, Black Hills, $4.1 million

Tennessee: Kenneth W. Lowe, Scripps Networks Interactive, $26.8 million

Texas: Randall Stephenson, AT&T, $25.3 million

Utah: Truman Hunt, Nu Skin Enterprises, $10.3 million (Hunt stepped down as CEO in March.)

Virginia: Marty Barrington, Altria Group, $24.2 million

Washington, D.C.: Thomas P. Joyce Jr. Danaher, $13 million

Washington: Howard Schultz, Starbucks, $21.8 million (Schultz stepped down as CEO in April.)

Wisconsin: Jeffery Yabuki, Fiserv, $21.2 million


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: justin solomon
Keywords: news, games, cnbc, companies, brian, highest, state, group, millionnew, paid, wynn, million, ceo, david, ceos


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Coach launches tender offer to acquire Kate Spade for $18.50 per share

Coach has launched a formal tender offer to acquire its rival handbag maker, Kate Spade, for $18.50 per share in cash, the company announced Friday morning. Coach’s offer will be for all the outstanding shares of Kate Spade’s common stock, with a par value of $1 per share, Coach said. Kate Spade’s stock closed Thursday at $18.42 a share and is down about 1.3 percent for the year-to-date period. As M&A rumors were stirring at the start of the year, Michael Kors was said to be another potential bi


Coach has launched a formal tender offer to acquire its rival handbag maker, Kate Spade, for $18.50 per share in cash, the company announced Friday morning. Coach’s offer will be for all the outstanding shares of Kate Spade’s common stock, with a par value of $1 per share, Coach said. Kate Spade’s stock closed Thursday at $18.42 a share and is down about 1.3 percent for the year-to-date period. As M&A rumors were stirring at the start of the year, Michael Kors was said to be another potential bi
Coach launches tender offer to acquire Kate Spade for $18.50 per share Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: lauren thomas, source
Keywords: news, games, cnbc, companies, offer, coach, share, stock, shares, spades, kate, tender, spade, launches, acquire, 1850, price


Coach launches tender offer to acquire Kate Spade for $18.50 per share

Coach has launched a formal tender offer to acquire its rival handbag maker, Kate Spade, for $18.50 per share in cash, the company announced Friday morning.

Earlier this month, Coach announced its plans to make a deal to buy Kate Spade for $2.4 billion, in an effort to make the brand a more appealing and broader “lifestyle assortment.”

In a Friday filing with the Securities and Exchange Commission, Coach said its $18.50-per-share offer will expire on June 23, unless extended. A tender offer is an offer to purchase some or all of shareholders’ shares in a corporation, with the price offered usually at a premium to the stock’s current market price.

Coach’s offer will be for all the outstanding shares of Kate Spade’s common stock, with a par value of $1 per share, Coach said.

Kate Spade’s stock closed Thursday at $18.42 a share and is down about 1.3 percent for the year-to-date period. Over the past 12 months, though, shares have fallen a more significant 16.4 percent.

In the process of sealing a tender offer, another investor could potentially get involved in a hostile takeover, upping the offering price per share.

As M&A rumors were stirring at the start of the year, Michael Kors was said to be another potential bidder for Kate Spade.

“Kate Spade has a truly unique and differentiated brand positioning with a broad lifestyle assortment and strong awareness among consumers, especially millennials,” Coach CEO Victor Luis said earlier this month about the partnership between the two.

The deal is expected to close in the third quarter of 2017 and add to adjusted earnings in fiscal 2018, Coach has said.

Coach shares were trading slightly higher Friday during premarket hours, following this announcement. Meanwhile, shares of Kate Spade were about unchanged.

Read more:

Coach, Kate Spade shares jump on news of $2.4 billion merger


Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: lauren thomas, source
Keywords: news, games, cnbc, companies, offer, coach, share, stock, shares, spades, kate, tender, spade, launches, acquire, 1850, price


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Sterling hits 2-week low after poll shows Conservatives’ lead shrinking

Sterling hit its lowest level in two weeks on Friday, after a poll showed a lead for Prime Minister Theresa May’s Conservatives over the opposition Labour Party has narrowed sharply ahead of national elections on June 8. According to the YouGov poll published late on Thursday, the first since a suicide bombing killed 22 people in Manchester, May’s party was on 43 percent, down 1 percentage point compared to a week ago, while Labour was up 3 points on 38 percent. The pound fell over 0.5 percent o


Sterling hit its lowest level in two weeks on Friday, after a poll showed a lead for Prime Minister Theresa May’s Conservatives over the opposition Labour Party has narrowed sharply ahead of national elections on June 8. According to the YouGov poll published late on Thursday, the first since a suicide bombing killed 22 people in Manchester, May’s party was on 43 percent, down 1 percentage point compared to a week ago, while Labour was up 3 points on 38 percent. The pound fell over 0.5 percent o
Sterling hits 2-week low after poll shows Conservatives’ lead shrinking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: matt cardy, getty images
Keywords: news, games, cnbc, companies, level, party, election, low, days, shrinking, 2week, hits, labour, poll, conservatives, lowest, mays, sterling, published, shows, lead


Sterling hits 2-week low after poll shows Conservatives' lead shrinking

Sterling hit its lowest level in two weeks on Friday, after a poll showed a lead for Prime Minister Theresa May’s Conservatives over the opposition Labour Party has narrowed sharply ahead of national elections on June 8.

According to the YouGov poll published late on Thursday, the first since a suicide bombing killed 22 people in Manchester, May’s party was on 43 percent, down 1 percentage point compared to a week ago, while Labour was up 3 points on 38 percent.

The pound fell over 0.5 percent on the day from its previous day’s close to $1.2861 – its lowest level since May 12.

It was 0.6 percent lower at 87 pence per euro.

Polls had put May’s Conservatives on course for a big victory after she called the snap election in April but her lead slipped in the days before the attack after both sides published their election manifestos.

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Company: cnbc, Activity: cnbc, Date: 2017-05-26  Authors: matt cardy, getty images
Keywords: news, games, cnbc, companies, level, party, election, low, days, shrinking, 2week, hits, labour, poll, conservatives, lowest, mays, sterling, published, shows, lead


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