Bank of America earnings Q2 2019

Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. So far this year, Bank of America shares ha


Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank. Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. So far this year, Bank of America shares ha
Bank of America earnings Q2 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: hugh son
Keywords: news, cnbc, companies, profit, 2019, revenue, earnings, q2, division, bank, america, billion, net, interest, analysts, income, increase


Bank of America earnings Q2 2019

Bank of America posted profit that exceeded analysts’ expectations on strength in its sprawling retail bank.

The lender said Wednesday that it generated $7.3 billion in second-quarter profit, an 8% increase from a year earlier, or 74 cents a share, compared with the 71 cent estimate of analysts surveyed by Refinitiv. It posted revenue of $23.2 billion, a 2.1% increase from a year earlier, matching analysts’ estimate.

Under CEO Brian Moynihan, the bank delivered record first-half profit, fueled by the company’s retail lending operations and Moynihan’s expense initiatives. It was the 18th straight quarter Moynihan and his executives have managed to improve the firm’s operating leverage, meaning it has grown revenue while cutting or holding the line on costs.

Still, the stock took a hit in April when Chief Financial Officer Paul Donofrio warned investors that growth of net interest income this year would be half the 6% the bank generated in 2018. Now, after the Federal Reserve recently signaled that it’s likely to cut its benchmark short-term interest rate later this month, the question is, does that further slow the growth in this main profit engine for banks?

There were some early signs of this. Bank of America’s net interest margin, a key metric of profitability, declined 7 basis points from the first quarter to 2.44%, which is below the 2.47% estimate analysts had for the second quarter.

The bank’s shares dipped 0.4% at 7:09 am in premarket trading. So far this year, Bank of America shares have climbed 18%, but are lower than when the company made its revenue warning in April.

Profit in the firm’s biggest division, its consumer bank, rose 13% to $3.29 billion as revenue climbed 5% to $9.72 billion as the firm added deposits and loans, which led to higher net interest income. That was the strongest showing among the bank’s four main businesses, followed by its wealth management division, where profit rose 11% to $1.07 billion.

Meanwhile, profit fell 7% to $1.07 billion in its global markets division amid a slowdown in trading activity across asset classes. Profit declined 9% to $1.93 billion in its global banking division on a drop in capital markets deals.

Earlier this week, Citigroup, J.P. Morgan Chase, Wells Fargo, and Goldman Sachs all beat analysts’ profit expectations as the firms benefited from one-time gains including a gain on the IPO of electronic market maker Tradeweb.

Here’s what Wall Street expected:

Earnings: 71 cents a share, a 12.3% increase from a year earlier, according to Refinitiv.

Revenue: $23.2 billion, a 2.1% increase from a year earlier.

Net interest margin: 2.47% according to FactSet

Trading Revenue: Fixed income $2.1 billion, Equities $1.22 billion

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: hugh son
Keywords: news, cnbc, companies, profit, 2019, revenue, earnings, q2, division, bank, america, billion, net, interest, analysts, income, increase


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Fiat Chrysler falls 4% after Goldman initiates at sell, citing North American growth struggles

2019 Ram 1500 pickup truck of the Fiat Chrysler Automobiles (FCA) is displayed at the North American International Auto Show (NAIAS) on January 15, 2018 in Detroit, Michigan. Automaker Fiat Chrysler’s stock fell more than 4% Tuesday after Goldman Sachs initiated the company’s stock at a sell rating, citing growth concerns in North America and challenges in Europe for its opinion. However, we do not forecast the company’s earnings in North America growing through its next five-year (2018-22) plan,


2019 Ram 1500 pickup truck of the Fiat Chrysler Automobiles (FCA) is displayed at the North American International Auto Show (NAIAS) on January 15, 2018 in Detroit, Michigan. Automaker Fiat Chrysler’s stock fell more than 4% Tuesday after Goldman Sachs initiated the company’s stock at a sell rating, citing growth concerns in North America and challenges in Europe for its opinion. However, we do not forecast the company’s earnings in North America growing through its next five-year (2018-22) plan,
Fiat Chrysler falls 4% after Goldman initiates at sell, citing North American growth struggles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elijah shama
Keywords: news, cnbc, companies, north, galliers, earnings, sell, initiates, citing, growth, falls, fiat, companys, stock, america, veyear, struggles, european, chrysler, goldman


Fiat Chrysler falls 4% after Goldman initiates at sell, citing North American growth struggles

2019 Ram 1500 pickup truck of the Fiat Chrysler Automobiles (FCA) is displayed at the North American International Auto Show (NAIAS) on January 15, 2018 in Detroit, Michigan.

Automaker Fiat Chrysler’s stock fell more than 4% Tuesday after Goldman Sachs initiated the company’s stock at a sell rating, citing growth concerns in North America and challenges in Europe for its opinion.

The investment bank set a price target of 11.50 euros ($12.90) giving the company a 7% downside.

“North America accounts for a disproportionate percentage of FCA’s earnings. Additionally, it was the principal driver of FCA’s earnings improvement over the last five-year business plan. However, we do not forecast the company’s earnings in North America growing through its next five-year (2018-22) plan,” said Goldman analyst George Galliers, in a research note.

North American sales accounted for 93% of the company’s adjusted earnings before interest and tax in 2018.

In the European market, the automaker is struggling with old products that need to be refreshed. Galliers said the company’s average product age is 7.4 years, which is a cause for concern given the time it will take to update the portfolio. The Dodge Challenger, for example, hasn’t been fully redesigned since 2008 and the Chrysler 300 since 2011. Fiat Chrysler plans to redesign both in 2021.

Analysts said the company would make for an attractive acquisition, but the recent U.S. designation that automotive research and development is critical to national security, complicates things for the Italian-American automaker. Galliers added that major marquee brands like Jeep were “too integral” to sell off.

Fiat Chrysler could also face EU emission penalties of up to 746 million euros ($837 million) if they fail to meet the European Union’s 2021 emissions targets, though Galliers expects Fiat Chrysler will avoid the fine since the cost is “too punitive.”

Despite the downbeat expectations, Galliers said the company’s brands and its heritage has appeal, and strong European sales could help offset some of its troubles.

The car maker will report its next earnings on July 31. Analysts estimate Fiat Chrysler will earn 84 cents a share in the third quarter.

Fiat Chrysler’s stock has lost 30% of its value since last year.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: elijah shama
Keywords: news, cnbc, companies, north, galliers, earnings, sell, initiates, citing, growth, falls, fiat, companys, stock, america, veyear, struggles, european, chrysler, goldman


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These are the best places to launch a small business in America

They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Abundant talentStates with a strong university system have an edge in an increasingly knowledge-based economy. 1


They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Abundant talentStates with a strong university system have an edge in an increasingly knowledge-based economy. 1
These are the best places to launch a small business in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elaine pofeldt, susan caminiti
Keywords: news, cnbc, companies, texas, strong, tech, business, states, florida, capital, technology, places, america, talent, university, launch, small, best


These are the best places to launch a small business in America

Richard Cummins | Getty Images

Alec Manfre co-founded the tech start-up Bractlet as a student in Atlanta where he went to college, then ran it from an incubator in Santiago, Chile. But it was Texas where he and his two co-founders ultimately put down roots. They got hooked on doing business in the state after moving the start-up to Houston to participate in an accelerator there. Bractlet makes a technology that helps commercial real estate owners evaluate their buildings’ energy infrastructure. The entrepreneurs were excited about the deep expertise in energy that existed in the city. Twenty-person Bractlet has since moved to Austin, where its lead investor, a venture capital firm, is located. Thanks to the presence of schools such as University of Texas, the company has been able to find plentiful skilled talent, both within Austin and from cities such as Dallas, Houston and San Antonio, says Manfre. Adding to the lure of doing business in Austin, he says, is the active start-up crowd; community groups centered on energy efficiency; and events like the movie, music and tech festival SXSW.

Alec Manfre co-founded Bractlet and moved the start-up to Texas to tap the state’s talent pool. Shlomo Morgulis

“There are always connections to be made and communities being built — and there’s a strong emphasis on technology and investment,” says Manfre. “That’s a really powerful combination for us.” Oh, and the active outdoor culture doesn’t hurt, either. “Yesterday we were doing wakeboarding on a recreational lake 15 minutes away,” he says. It’s not surprising that Manfre has found a lot to love about doing business in Texas — which finished second in CNBC’s 2019 America’s Top States for Business ranking. Known for its low-tax environment — there’s no personal income tax or corporate income tax — business-friendly regulatory climate and innovation-focused economy, Texas has many champions in the business community. “It’s simply easier to do business in Texas than any other state,” says Bob Harvey, president and CEO of the Greater Houston Partnership, an economic development organization. But it’s not solely a low-tax, low-regulation environment that makes a state great for business. Some states have a completely different playbook for success that works for them. High-tax, highly regulated environments haven’t kept California’s Silicon Valley, the Rte. 128 Tech Corridor in Massachusetts or New York’s Silicon Alley from spawning innovation or attracting venture capital. These states owe their economic health to other factors, like excellent access to capital for their start-ups and dominance in particular industries. California, for instance, has its thriving film and aerospace industries. “California gets away with a horrible business climate because it’s got such strong industries,” says Steve King, a partner at Emergent Research, which studies small business trends out of Lafayette, California. Recognizing there’s no magic formula for building a thriving business community, CNBC’s 2019 America’s Top States for Business scores the states on 64 metrics across 10 main categories: their economy, workforce, infrastructure, cost of doing business, quality of life, education, technology and innovation, business friendliness, access to capital and cost of living. Here is a look at some of the qualities that are helping states foster entrepreneurial business growth.

Abundant talent

States with a strong university system have an edge in an increasingly knowledge-based economy. Florida (No. 12 on the list), for instance, has more than 60 universities around the state churning out well-educated graduates, among them the University of Florida, University of Central Florida and University of South Florida. The strong talent bench is fueling the growth of sectors such as cybersecurity, technology and finance and attracting venture capital, according to Craig Richard, president and CEO of the Tampa Hillsborough Economic Development Corp. “They are cranking out a lot of innovation and patents around cybersecurity,” says Richard. “That’s one of our fastest-growing tech sectors.” It’s not the only technology niche where Florida’s economy is percolating, thanks to the state’s deep pool of STEM-educated talent. Luminar Technologies, a fast-growing Silicon Valley-based start-up backed by Peter Thiel makes lidar-based sensors for vehicles. It established its R&D and manufacturing base in Orlando last year — and now about 265 of its roughly 370 employees work out of Orlando, according to the company’s chief business officer, Scott Faris.

Luminar’s co-founder Jason Eichenholz knew there was a concentration of specialized engineering talent in the area as an alum of the University of Central Florida’s Center for Research and Education in Optics and Lasers. Many engineers in the state’s aerospace industry had already worked on similar technology for laser-guided missiles. The company wanted to take advantage of that knowledge base. “There is no place in the universe where you have the density of talent in the lidar and sensing space that you do in Orlando,” says Faris. “It’s got a rich history and density of people who understand all aspects of this. We’re able to attract those folks into the organization.”

Quality of life

With unemployment at record lows and the talent wars accelerating, many business leaders realize it’s easier to recruit if they open their offices in places where workers want to live because of fantastic schools, a great arts scene, hot restaurants or easy access to parks and outdoor activities. “More companies are looking at the quality of life and eco-friendliness,” says attorney Andrew Sherman, a partner in Seyfarth Shaw in Washington, D.C., who advises both entrepreneurs and corporate businesses and is author of many books on entrepreneurship. “The state of Washington, for instance, has done a nice job of marketing their assets to small and midsize businesses, saying, ‘Not only do we have good universities and human capital but we have beautiful cities with access to the Pacific. ” Similarly, employers in Colorado have found that it’s not hard to entice recruits from other states to move to up-and-coming outdoor-oriented cities such as Denver, Colorado Springs, and Boulder, known for its thriving tech and natural-foods industries.

Denver’s economy is solid, and it has a strong, educated workforce. It also has the nation’s fourth-largest concentration of science, technology, engineering and math (STEM) employees. photoquest7 | iStock | Getty Images

“I think our quality of life is an important contributor,” says Dirk Draper, president and CEO of the Colorado Springs Chamber and EDC. “Entrepreneurs and innovators may be working on their own or in small groups where they can make a decision more on a quality of life factor that adds spice to our community mix. They come here for the lifestyle.”

Taxes

A favorable regulatory environment

As technology upends many industries, a regulatory climate that allows for innovation is essential, say many business leaders. Tim Giuliani, president and CEO of the Orlando Economic Partnership, points to the bill Florida Gov. Ron DeSantis signed in June on autonomous vehicles. It allows the Florida Turnpike Enterprise to fund, construct and operate test facilities to advance autonomous and connected transportation technology. That will be a big advantage for businesses in this field, he believes. “It sends a signal that Florida is willing to continue to change its regulatory environment to adapt to new technologies,” says Giuliani.

TriggerPhoto | iStock Unreleased | Getty Images

That’s not to say that the business community wants a zero-regulation environment. “Sometimes government regulation can be a positive — but if it’s done too much, I’d be concerned,” says Elie Rieder, founder and CEO of Castle Lanterra Properties, a firm in Suffern, New York, that invests in multifamily real estate around the country and is affected by regulations such as rent stabilization laws.

Infrastructure


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: elaine pofeldt, susan caminiti
Keywords: news, cnbc, companies, texas, strong, tech, business, states, florida, capital, technology, places, america, talent, university, launch, small, best


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Trump escalates attacks on Democratic congresswomen at ‘Made in America’ event

President Donald Trump speaks on the South Lawn of the White House in Washington, July 15, 2019. President Donald Trump escalated his attacks on four progressive Democratic congresswomen on Monday amid bipartisan furor over his comments that the lawmakers should “go back” to the “places from which they came.” Pelosi said in a letter to Democrats on Monday that a draft resolution condemning the president’s tweets was in the works. Texas Reps. Will Hurd, Pete Olson and Chip Roy, all Republicans, a


President Donald Trump speaks on the South Lawn of the White House in Washington, July 15, 2019. President Donald Trump escalated his attacks on four progressive Democratic congresswomen on Monday amid bipartisan furor over his comments that the lawmakers should “go back” to the “places from which they came.” Pelosi said in a letter to Democrats on Monday that a draft resolution condemning the president’s tweets was in the works. Texas Reps. Will Hurd, Pete Olson and Chip Roy, all Republicans, a
Trump escalates attacks on Democratic congresswomen at ‘Made in America’ event Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: tucker higgins sunny kim, tucker higgins, sunny kim
Keywords: news, cnbc, companies, post, wrote, white, event, tweets, members, president, democratic, house, america, escalates, comments, attacks, congresswomen, trump, presidents


Trump escalates attacks on Democratic congresswomen at 'Made in America' event

President Donald Trump speaks on the South Lawn of the White House in Washington, July 15, 2019.

President Donald Trump escalated his attacks on four progressive Democratic congresswomen on Monday amid bipartisan furor over his comments that the lawmakers should “go back” to the “places from which they came.”

Speaking from the White House at an event showcasing products manufactured in the United States, Trump said that Rep. Ilhan Omar, D-Minn., “hates Jews, it’s very simple” and claimed that “New York has not been the same” since Amazon opted out of moving its second headquarters to the state after activist resistance that was supported by Rep. Alexandria Ocasio-Cortez, D-N.Y.

Trump’s tweets on Sunday were slammed as xenophobic by House Speaker Nancy Pelosi, D-Calif., and an increasing number of members of his own party have sought to distance themselves from them. Pelosi said in a letter to Democrats on Monday that a draft resolution condemning the president’s tweets was in the works.

Ocasio-Cortez was born in New York. Omar was born in Somalia and became an American citizen as a teenager. The two other lawmakers the president has targeted, Reps. Ayanna Pressley, D-Mass., and Rashida Tlaib, D-Mich., were born in the United States. All were elected to Congress last year.

Shortly after the president delivered his remarks, Omar, who apologized in February for statements that some of her colleagues denounced as anti-Semitic, wrote in a post on Twitter that she will not be deterred by the president’s attacks.

“They are working to silence the voices of the people who see themselves represented in me. I will stay in the ring, fighting for what is right and will never back down in the face of these attacks,” she wrote.

Ocasio-Cortez wrote earlier Monday that the president was using the “hallmark language of white supremacists.”

After Trump’s tweets sparked outrage on Sunday, he doubled down Monday morning ahead of the “Made in America” products showcase on the White House South Lawn.

“If Democrats want to unite around the foul language & racist hatred spewed from the mouths and actions of these very unpopular & unrepresentative Congresswomen, it will be interesting to see how it plays out,” Trump wrote in a post on Twitter.

The president’s insistence on singling out the four progressives comes despite resistance from members of his own party.

Sen. Tim Scott, R-S.C., the only black Republican senator, had harsh words for the president.

“The President interjected with unacceptable personal attacks and racially offensive language. No matter our political disagreements, aiming for the lowest common denominator will only divide our nation further,” he wrote in a post on Twitter.

Sen. Susan Collins, R-Maine, said in a statement Monday that while she disagreed with the “far-left” members of Congress, the president’s tweets went “way over the line” and urged him to delete them.

Texas Reps. Will Hurd, Pete Olson and Chip Roy, all Republicans, also rejected the president’s comments. Hurd denounced the statements as “racist and xenophobic” in an interview with CNN, while Olson wrote on Twitter that they were “not reflective of the values of the 1,000,000+ people in Texas 22.”

“POTUS was wrong to say any American citizen, whether in Congress or not, has any ‘home’ besides the U.S.,” Roy wrote in a post on Twitter.

GOP Reps. Paul Mitchell and Fred Upton of Michigan also criticized the president. Mitchell told a local radio station that the president’s comments were “really uncalled for,” while Upton tweeted “we must be better than comments like these.”

But many in the party leadership have been silent on the matter. And Trump ally Sen. Lindsey Graham, R-S.C., defended the president, calling the Democratic lawmakers a “bunch of communists” during a Monday interview on Fox News.

Trump cited Graham’s defense approvingly, saying the congresswomen “are socialists definitely.” But Trump took issue with Graham’s statement that the president should “aim higher” than the four progressive members, sometimes referred to as “the squad.”

“What am I supposed to do? Just wait for senators?” Trump asked.

Asked by a reporter about support for his comments from white supremacists, the president said it did not bother him.

“It doesn’t concern me because many people agree with me. If they are not happy with the United States, they can leave,” Trump said.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: tucker higgins sunny kim, tucker higgins, sunny kim
Keywords: news, cnbc, companies, post, wrote, white, event, tweets, members, president, democratic, house, america, escalates, comments, attacks, congresswomen, trump, presidents


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These are the best places to live in America in 2019

Here are the states that lead the rankings for being the best places to live in the U.S. this year. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)Strengths: Health, well-beingWeakness: Air quality2018 Quality of Life rank: 127. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)Strengths: Air quality, healthWeakness: Attractions2018 Quality of Life rank: 77. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)Strengths: Well-being


Here are the states that lead the rankings for being the best places to live in the U.S. this year. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)Strengths: Health, well-beingWeakness: Air quality2018 Quality of Life rank: 127. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)Strengths: Air quality, healthWeakness: Attractions2018 Quality of Life rank: 77. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)Strengths: Well-being
These are the best places to live in America in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: scott cohn
Keywords: news, cnbc, companies, quality, best, states, crime, state, score, live, air, getty, places, america, life, 2019, points


These are the best places to live in America in 2019

Getty Images

If you could live anywhere in America, where would that be? By the numbers, these are the states that offer the best quality of life. That’s because they offer everything people yearn for: job opportunities, affordable housing, great schools, a low cost of living, affordable health care and a clean environment. Good quality of life is also good business. What better selling point could there be for a company looking to attract the best talent than to offer a great location for employees to settle down and raise a family. In this tight labor market, companies are increasingly realizing how important this is for their strategic growth plans. It is why Quality of Life is one of the key categories worth 300 out of 2,500 points in CNBC’s annual America’s Top States for Business 2019 rankings. We use hard data to evaluate all 50 states as places to live — factors including crime rates, local attractions, environmental quality and inclusiveness as measured by legal protections written into state laws.

Here are the states that lead the rankings for being the best places to live in the U.S. this year.

10. Massachusetts

People running near Boston Harbor and Financial District at sunrise in Boston, Massachusetts. Prasit photo | Moment | Getty Images

Fewer than 3% of residents in the Bay State are without health insurance. That is the lowest uninsured rate in the nation, and it helps explain why this is one of America’s healthiest states. But that is not the only reason Massachusetts is a great place to live. Local attractions abound, from historic Boston and scenic Cape Cod in the east, to the beautiful Berkshires in the west. Boston prides itself as the Cradle of Liberty, and strong legal protections help ensure that freedom in Massachusetts applies to all. But Boston is also the cradle of some polluted air, hurting the state’s environmental quality. 2019 Quality of Life score: 217 out of 325 points (Top States Grade: B-)

Strengths: Health, attractions, inclusiveness

Weakness: Air quality

2018 Quality of Life rank: 10

9. Utah

Hiker in Arches Park Moab, Utah. Sportstock | E+ | Getty Images

The Beehive State gets its nickname from the industriousness of its citizens. Utahans not only work hard, they apparently love their work. According to Gallup’s 2018 Wellbeing Index, nowhere in the continental United States do people feel better about their careers. As busy as people are in Utah, they still find time to take care of themselves. They exercise frequently, and obesity rates are low. But air quality leaves a bit to be desired. 2019 Quality of Life score: 219 out of 325 points (Top States Grade: B-)

Strengths: Health, well-being

Weakness: Air quality

2018 Quality of Life rank: 12

7. (tie) Montana

Trail running in Big Sky. Jordan Siemens | Taxi | Getty Images

They call Montana Big Sky Country because all those unobstructed views really do make the sky seem bigger. And it turns out that big sky — and everything beneath it — contains the cleanest air in the nation according to the American Lung Association. Montana is a healthy, inclusive state, and crime is low. The state is lacking somewhat in attractions, at least in terms of places frequented by tourists. But if you are looking for breathtaking views, majestic mountains and crystal-clear waters — oh, and that big sky — this may be the place for you. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)

Strengths: Air quality, health

Weakness: Attractions

2018 Quality of Life rank: 7

7. (tie) Colorado

Skiing the Rockies in Colorado Getty Images

The Centennial State is home to rich natural beauty, vibrant cities, and robust inclusiveness provisions firmly enshrined in state law. Coloradans are healthy. Only 22.6% of the population is obese, the lowest rate in the nation. Air quality could be better, and the crime rate is slightly worse than the national average. 2019 Quality of Life score: 221 out of 325 points (Top States Grade: B)

Strengths: Inclusiveness, health, attractions

Weakness: Air quality

2018 Quality of Life rank: 9

5. (tie) Washington

A couple enjoy an extended hike in the Pacific Northwest RyanJLane | E+ | Getty Images

The Evergreen State is among America’s healthiest states, and its people are the most physically active. Who would not want to get out and enjoy a state with such natural beauty and so much to do. Washington prides itself on inclusiveness, with strong protections built into state law. Crime is low, but air quality may leave something to be desired. 2019 Quality of Life score: 232 out of 325 points (Top States Grade: B)

Strengths: Health, inclusiveness, attractions

Weakness: Air quality

2018 Quality of Life rank: 5 (tie)

5. (tie) New Hampshire

White Mountains, New Hampshire Greg Dale | National Geographic Image Collection | Getty Images

With its famous motto, “Live Free or Die,” it stands to reason that the Granite State is among America’s most inclusive. Freedom also includes security. New Hampshire enjoys the third lowest violent crime rate in the nation. The state also boasts the nation’s lowest child poverty rate. On the other hand, air quality can suffer, partly due to the state’s proximity to Boston. And the quiet life here means New Hampshire can sometimes lack things to do. 2019 Quality of Life score: 232 out of 325 points (Top States Grade: B)

Strengths: Inclusiveness, crime rate

Weaknesses: Air quality, attractions

2018 Quality of Life rank: 5 (tie)

4. North Dakota

The International Peace Garden along the US-Canada border in North Dakota. The central division divides Canada (right) from the USA (left). Photo: Dig Deeper | Wikipedia

The Peace Garden State derives its nickname from the International Peace Garden straddling the U.S.-Canadian border, a project that has its roots at the International Gardeners Association convention exactly 90 years ago. But the term “peace garden” could also refer to the idyllic lifestyle in this state. The crime rate is low, the population is healthy and happy, and anti-discrimination laws are stronger than most. But other than the aforementioned International Peace Garden, attractions can be sparse. 2019 Quality of Life score: 235 out of 325 points (Top States Grade: B+)

Strengths: Well-being, air quality, inclusiveness

Weakness: Attractions

2018 Quality of Life rank: 4

3. Minnesota

Couple cross country skiing on a north woods trail. JMichl | iStock | Getty Images

One of the many features of the North Star state is what the locals call “Minnesota Nice,” which is exactly what it sounds like. Minnesotans are welcoming and inclusive, as evidenced by thorough legal protections against discrimination. Crime rates are low, the population is healthy, and the air is clean. We don’t factor weather into our rankings because it is too subjective. But it is worth pointing out that while winters can be brutal here, Minnesotans not only adapt to the frigid weather; they flourish in it. 2019 Quality of Life score: 259 out of 325 points (Top States Grade: A-)

Strengths: Inclusiveness, health, air quality, crime rate

Weakness: Attractions

2018 Quality of Life rank: 3

2. Vermont

Man hiking in Vermont during Autumn Getty Images

The Green Mountain State has the nation’s second-lowest crime rate, inclusive state laws, and a healthy population. Vermont rode those attributes to a first-place finish in Quality of Life in 2018. The state still offers an enviable quality of life, but it slipped just enough in terms of air quality and its citizens’ perceived well-being in 2019 to drop out of the top spot. Vermont’s one discernible weakness is the fact that it offers few popular tourist attractions, but many people here would consider that a positive. 2019 Quality of Life score: 262 out of 325 points (Top States Grade: A-)

Strengths: Crime rate, health, inclusiveness

Weakness: Attractions

2018 Quality of Life rank: 1

1. Hawaii

Woman Kayaking, Oahu, Hawaii darekm101 | RooM | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: scott cohn
Keywords: news, cnbc, companies, quality, best, states, crime, state, score, live, air, getty, places, america, life, 2019, points


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10 best states for starting a new business in America

Financial website WalletHub published a new study on Monday that ranks all 50 U.S. states based on which ones have the best conditions for starting a business. For its study, WalletHub compared all 50 U.S. states across three elements: the overall business environment, access to resources and business costs. Texas landed the top spot on WalletHub’s ranking of the best states to start a new business. Georgia ranked third in WalletHub’s study for the best U.S. states to start a business, with Nort


Financial website WalletHub published a new study on Monday that ranks all 50 U.S. states based on which ones have the best conditions for starting a business. For its study, WalletHub compared all 50 U.S. states across three elements: the overall business environment, access to resources and business costs. Texas landed the top spot on WalletHub’s ranking of the best states to start a new business. Georgia ranked third in WalletHub’s study for the best U.S. states to start a business, with Nort
10 best states for starting a new business in America Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: tom huddleston jr
Keywords: news, cnbc, companies, best, wallethubs, costs, study, states, population, america, wallethub, starting, business, state, according


10 best states for starting a new business in America

Launching a new business is hard — more than 20% of new businesses fail within a year of launching, while only about half last at least five years, according to data from the U.S. Bureau of Labor Statistics. So those who dream of being an entrepreneur want any advantage they can get.

Financial website WalletHub published a new study on Monday that ranks all 50 U.S. states based on which ones have the best conditions for starting a business. For its study, WalletHub compared all 50 U.S. states across three elements: the overall business environment, access to resources and business costs. Within those three categories, WalletHub rates each state based on 26 key metrics, like start-ups per capita, the percentage of the population that is of working age and college-educated, local cost of living, corporate tax rates and labor costs, among others. Each state received a total score on a 100-point scale based on how it performed across those metrics.

Texas landed the top spot on WalletHub’s ranking of the best states to start a new business.

The Lone Star State — which is home to such Fortune 500 companies as Exxon Mobil, AT&T and American Airlines — also nabbed the study’s top score for business environment. Texas, which was also CNBC’s Top State for Business in 2018, has the country’s second-largest economy at $1.8 trillion in 2018, behind only California, according to the U.S. Department of Commerce. It also saw the fourth-highest average growth in the number of small businesses among U.S. state in 2018, according to WalletHub.

The runner-up behind Texas on WalletHub’s overall ranking is Utah, which is one of the top states for making financing accessible for business owners, according to WalletHub. That helped Utah also rank second in the study’s “access to resources” category.

Georgia ranked third in WalletHub’s study for the best U.S. states to start a business, with North Dakota and Oklahoma rounding out the top five, respectively.

Here are the top 10 U.S. states for starting a new business, according to WalletHub:

1. Texas

2. Utah

3. Georgia

4. North Dakota

5. Oklahoma

6. Florida

7. Arizona

8. California

9. Montana

10. Colorado

Ranking at the bottom of WalletHub’s study is Rhode Island. The state ranks dead last in terms of business environment, according to WalletHub. New Jersey ranks 49th on WalletHub’s list, coming in last in terms of business costs, with one of the highest corporate tax rates (9%) of any U.S. state.

Other details that WalletHub found in compiling its rankings include the fact that Mississippi is the state with the lowest labor costs for businesses, while Maryland has the highest costs. Massachusetts also has the most educated population (41% of the population has at least a bachelor’s degree) while West Virginia has the least educated population (only about 20%). And, Minnesota has the cheapest office spaces, while three states tied for the most expensive office spaces: New York, California and Alaska.

Don’t Miss:

These are the 10 best big cities in America for starting a business

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Company: cnbc, Activity: cnbc, Date: 2019-07-09  Authors: tom huddleston jr
Keywords: news, cnbc, companies, best, wallethubs, costs, study, states, population, america, wallethub, starting, business, state, according


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This is the best fast-food chain in America, according to 23,000 customers

Fast-food chain Chick-fil-A, headquartered in College Park, Georgia, has ranked as the best fast-food chain for customer satisfaction in the country for 2018-2019, according to American Customer Satisfaction Index (ACSI). 1 for the fourth year in a row, according to ACSI, this year with a score of 86 out of 100. “All others” encompasses the “total result for restaurants that don’t fall into those measured by the ACSI.” So ACSI groups these smaller restaurants as ‘all others,'” according to a rep


Fast-food chain Chick-fil-A, headquartered in College Park, Georgia, has ranked as the best fast-food chain for customer satisfaction in the country for 2018-2019, according to American Customer Satisfaction Index (ACSI). 1 for the fourth year in a row, according to ACSI, this year with a score of 86 out of 100. “All others” encompasses the “total result for restaurants that don’t fall into those measured by the ACSI.” So ACSI groups these smaller restaurants as ‘all others,'” according to a rep
This is the best fast-food chain in America, according to 23,000 customers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: jimmy im
Keywords: news, cnbc, companies, customer, customers, according, fastfood, 23000, data, score, america, satisfaction, acsi, ranked, lower, food, restaurants, best, chain


This is the best fast-food chain in America, according to 23,000 customers

Fast-food chain Chick-fil-A, headquartered in College Park, Georgia, has ranked as the best fast-food chain for customer satisfaction in the country for 2018-2019, according to American Customer Satisfaction Index (ACSI).

ACSI, a company that provides data for customer evaluations in 46 industries, says it used data from interviews with 23,468 customers chosen at random and contacted via email between June 5, 2018 and May 27, 2019. It asked about categories pertaining to customer experience that include accuracy of food order, courtesy and helpfulness of staff, food quality (taste, temperature, freshness of ingredients) and restaurant layout and cleanliness.

Chick-fil-A ranked No. 1 for the fourth year in a row, according to ACSI, this year with a score of 86 out of 100. That’s one point lower than its score last year.

Panera Bread ranked No. 3 with a score of 81; Arby’s, Chipotle, Papa John’s and Pizza Hut all tied for No. 4 with a score of 80.

McDonald’s came in last on the list with a score of 69.

A category dubbed “all others” ranked No. 2 on the list with 82 points. “All others” encompasses the “total result for restaurants that don’t fall into those measured by the ACSI.” It is included in the ranking because, “in total, the data from all the other restaurants is statistically significant, but not for those individual restaurants to be reported on separately. So ACSI groups these smaller restaurants as ‘all others,'” according to a representative.

Overall, fast food customer experience was 1.3% lower than last year, according to the company. Only one category in 2018-19 did better than the year before: “variety of beverages on menu” scored 80 this year, one point up from last year.

“Website satisfaction” remained the same as last year with a score of 82. “Quality of mobile app” and “reliability of mobile app” (minimal down time, crashes, lags) are new this year.

All the other categories scored lower than last year.

Chick-fil-A did $10.46 billion in sales for 2018. Despite its popularity, Chick-fil-A has faced “criticism and boycotts for its donations to anti-LGBTQ groups and CEO Dan Cathy’s public comments opposing gay marriage,” CNBC previously reported.


Company: cnbc, Activity: cnbc, Date: 2019-07-03  Authors: jimmy im
Keywords: news, cnbc, companies, customer, customers, according, fastfood, 23000, data, score, america, satisfaction, acsi, ranked, lower, food, restaurants, best, chain


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Trade ceasefire rally could be short-lived, market strategists warn

President Donald Trump and China President Xi Jinping agreed in Osaka to hold off on new tariffs and to restart trade negotiations. President Donald Trump connects his success with the stock market’s performance and, at record highs, the market is currently ignoring trade concerns. “We expect a deal with China, but but it could take a large market correction to get there,” the BofA strategists wrote. He said there is a growing view that the Fed could cut interest rates, and its action, along wit


President Donald Trump and China President Xi Jinping agreed in Osaka to hold off on new tariffs and to restart trade negotiations. President Donald Trump connects his success with the stock market’s performance and, at record highs, the market is currently ignoring trade concerns. “We expect a deal with China, but but it could take a large market correction to get there,” the BofA strategists wrote. He said there is a growing view that the Fed could cut interest rates, and its action, along wit
Trade ceasefire rally could be short-lived, market strategists warn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: patti domm
Keywords: news, cnbc, companies, rally, tariffs, strategist, trade, warn, america, sp, stocks, ceasefire, trump, strategists, market, stock, deal, shortlived


Trade ceasefire rally could be short-lived, market strategists warn

Stocks are surging on the trade truce, but it may be a short-lived rally once investors realize it could take months of tough talks to get to a trade agreement and the risk of more tariffs remains.

Both Bank of America Merrill Lynch and Morgan Stanley say a stock market correction could be in the offing this summer, despite the fact the U.S.-China trade war cooled a bit this weekend.

President Donald Trump and China President Xi Jinping agreed in Osaka to hold off on new tariffs and to restart trade negotiations. Trump also said he could partially lift the ban on sales of some U.S. components to China’s blacklisted telecom company Huawei, if there is no national security issue.

The S&P 500 Monday rose into record territory in a global equities rally, climbing wall above its previous high of 2,964. The S&P was up more than 1%, but pared gains after weak manufacturing reports

Trade sensitive stocks, like Apple and Caterpillar were higher. Semiconductor stocks also rallied, and those that do business with Huawei, like Micron, saw sharp gains.

“We still expect a 10 percent correction during 3Q as this past weekend’s agreement is viewed as a sell the news event,” wrote Morgan Stanley chief U.S. equity strategist Mike Wilson.

At Bank of America, analysts were also skeptical.

“The fact that there was no major breakthrough is consistent with our ‘no pain, no deal’ framework: at the moment the economy and markets are not weak enough to incentivize the US to make compromises,” noted Bank of America strategists.

President Donald Trump connects his success with the stock market’s performance and, at record highs, the market is currently ignoring trade concerns. But if that changes and stocks weaken, many pros said he might move to complete the agreement. Trump tweeted Monday that the market has had the best first half since 1997, and that America is doing great.

“We expect a deal with China, but but it could take a large market correction to get there,” the BofA strategists wrote. They expect a deal could come later this summer, and BofA’s chief U.S. equity strategist Savita Subrahim says if there is a “real deal,” the S&P could rally to as high as 3,100. However, additional tariffs could wipe 5% or more from the S&P.

Morgan Stanley’s Wilson said value and cyclical stocks were rising ahead of the G-20 meeting on hopes for progress in the talks, but he does not favor those groups. He said there is a growing view that the Fed could cut interest rates, and its action, along with a possible trade deal, could stop economic slowing.

“We disagree with this conclusion and see increasing risks to growth and quality that could further accelerate the momentum unwind, but from the long side,” he noted. Wilson said an accommodative Fed would cushion the blow, but not prevent a slowing.

In the bond market, the reaction was much more muted than in the stock market, and the 10-year yield was at 2.01% in morning trading, not much above Friday’s level and near the low of its intraday range.

“I think it’s just the fact that it’s pretty similar to what we saw at the last G-20, back in December. While the cease fire is incrementally good news, it really doesn’t change anything from a longer term perspective,” said BMO rate strategist Ben Jeffrey. Jeffrey said the deal does not remove the economic impact of the 25% tariffs on $250 billion in Chinese goods that are already in place, and the bond market is reflecting skepticism.

“We’re reading this as people are apprehensive in seeing this as an inflection point,” said Jeffrey.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: patti domm
Keywords: news, cnbc, companies, rally, tariffs, strategist, trade, warn, america, sp, stocks, ceasefire, trump, strategists, market, stock, deal, shortlived


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Cities across America are seeing an uptick in ransomware attacks

Cities across America are seeing an uptick in ransomware attacks2:10 PM ET Fri, 28 June 2019CNBC’s Kate Fazzini joins “The Exchange” to discuss how ransomware attacks are hitting cities across America and how they work.


Cities across America are seeing an uptick in ransomware attacks2:10 PM ET Fri, 28 June 2019CNBC’s Kate Fazzini joins “The Exchange” to discuss how ransomware attacks are hitting cities across America and how they work.
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Cities across America are seeing an uptick in ransomware attacks

Cities across America are seeing an uptick in ransomware attacks

2:10 PM ET Fri, 28 June 2019

CNBC’s Kate Fazzini joins “The Exchange” to discuss how ransomware attacks are hitting cities across America and how they work.


Company: cnbc, Activity: cnbc, Date: 2019-06-28
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Paychex shares fall after Bank of America downgrades, blaming ‘excessive valuation’

Shares of Paychex dropped on Wednesday after Bank of America downgraded the stock due to its “excessive valuation” and “underwhelming fundamentals.” The bank slashed its rating for the employment services company to underperform from neutral, while keeping its 12-month price target of $82 unchanged. Shares of Paychex fell 3.57% to about $81.77 on Wednesday following the downgrade. Bank of America also said lower interest rates would pose a threat to the company. But ironically, lower rates negat


Shares of Paychex dropped on Wednesday after Bank of America downgraded the stock due to its “excessive valuation” and “underwhelming fundamentals.” The bank slashed its rating for the employment services company to underperform from neutral, while keeping its 12-month price target of $82 unchanged. Shares of Paychex fell 3.57% to about $81.77 on Wednesday following the downgrade. Bank of America also said lower interest rates would pose a threat to the company. But ironically, lower rates negat
Paychex shares fall after Bank of America downgrades, blaming ‘excessive valuation’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: yun li
Keywords: news, cnbc, companies, shares, bank, stock, lower, result, downgrades, kupferberg, view, excessive, blaming, valuation, rates, fall, paychex, america, multiple


Paychex shares fall after Bank of America downgrades, blaming 'excessive valuation'

Shares of Paychex dropped on Wednesday after Bank of America downgraded the stock due to its “excessive valuation” and “underwhelming fundamentals.”

The bank slashed its rating for the employment services company to underperform from neutral, while keeping its 12-month price target of $82 unchanged. Shares of Paychex fell 3.57% to about $81.77 on Wednesday following the downgrade.

Paychex has returned nearly 26% this year so far, but “this outperformance has been driven almost exclusively by multiple appreciation,” Jason Kupferberg, Bank of America’s research analyst said in a note sent to clients during market hours.

“We believe the higher multiple is in part a result of the falling 10-year yield, rather than improving fundamentals, and as a result, we view the multiple re-rating as lower quality and less sustainable…on the basis of underlying fundamentals, we view shares are overvalued,” Kupferberg said.

The company reported fourth-quarter results on Wednesday, showing an earnings miss and a lowered outlook. Its revenue topped analysts’ expectations. The stock was down slightly following the earnings and before the downgrade.

Bank of America also said lower interest rates would pose a threat to the company.

“Lower bond yields tend to make high dividend yielding stocks … more attractive. But ironically, lower rates negatively impact float income for Paychex. We estimate a 25 bps cut in the Fed Funds rate would represent about a $0.01 annualized EPS headwind.”


Company: cnbc, Activity: cnbc, Date: 2019-06-26  Authors: yun li
Keywords: news, cnbc, companies, shares, bank, stock, lower, result, downgrades, kupferberg, view, excessive, blaming, valuation, rates, fall, paychex, america, multiple


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