AT&T misses quarterly revenue estimates

AT&T missed Wall Street estimates for quarterly revenue on Wednesday, hit by lower-than-expected sales in its WarnerMedia unit and a shortfall in income from a wireless business where it has cut prices to draw in customers. WarnerMedia, which includes Turner and premium TV channel HBO, reported revenue of $8.38 billion in the quarter, falling short of analysts’ estimates of $8.45 billion, according to IBES data from Refinitiv. However, that meant Mobility, AT&T’s largest segment which includes i


AT&T missed Wall Street estimates for quarterly revenue on Wednesday, hit by lower-than-expected sales in its WarnerMedia unit and a shortfall in income from a wireless business where it has cut prices to draw in customers. WarnerMedia, which includes Turner and premium TV channel HBO, reported revenue of $8.38 billion in the quarter, falling short of analysts’ estimates of $8.45 billion, according to IBES data from Refinitiv. However, that meant Mobility, AT&T’s largest segment which includes i
AT&T misses quarterly revenue estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: janhvi bhojwani
Keywords: news, cnbc, companies, business, analysts, estimates, subscribers, misses, cents, revenue, att, wireless, quarterly, billion, short, share


AT&T misses quarterly revenue estimates

AT&T missed Wall Street estimates for quarterly revenue on Wednesday, hit by lower-than-expected sales in its WarnerMedia unit and a shortfall in income from a wireless business where it has cut prices to draw in customers.

AT&T has reduced its dependency on the phone business by buying media content through its acquisition of Time Warner, yet faces a daunting struggle to find growth as declines in one business offset growth in another.

WarnerMedia, which includes Turner and premium TV channel HBO, reported revenue of $8.38 billion in the quarter, falling short of analysts’ estimates of $8.45 billion, according to IBES data from Refinitiv.

The second-largest U.S. wireless carrier by subscribers added a net 80,000 phone subscribers, surprising on analysts’ forecast of a loss of 44,000 subscribers as its cut the price of plans to combat strong competition in the saturated U.S. market.

However, that meant Mobility, AT&T’s largest segment which includes its wireless business, had revenue of $17.57 billion during the quarter, missing estimates of $17.65 billion.

DirecTV Now, AT&T’s streaming service, lost 83,000 subscribers, more than analysts’ expectation of 82,000 losses.

Net income attributable to AT&T fell to $4.1 billion, or 56 cents per share, from $4.66 billion, or 75 cents per share, a year earlier.

Excluding items, the company earned 86 cents per share, in line with estimates.

Total revenue rose nearly 18 percent to $44.83 billion but fell short of expectations of $45.11 billion.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: janhvi bhojwani
Keywords: news, cnbc, companies, business, analysts, estimates, subscribers, misses, cents, revenue, att, wireless, quarterly, billion, short, share


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Facebook investors brace for an update from Zuckerberg on the company’s planned pivot to privacy

Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users. Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing. With Facebo


Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users. Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing. With Facebo
Facebook investors brace for an update from Zuckerberg on the company’s planned pivot to privacy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, saul loeb, afp, getty images
Keywords: news, cnbc, companies, planned, companys, privacy, shift, business, pivot, update, zuckerberg, facebook, brace, revenue, instagram, users, company, whatsapp, investors


Facebook investors brace for an update from Zuckerberg on the company's planned pivot to privacy

Facebook reports earnings after the closing bell Wednesday, and investors will be looking for signs it can shift its business to focus more on privacy while continuing to grow revenue and users.

“I believe the future of communication will increasingly shift to private, encrypted services where people can be confident what they say to each other stays secure and their messages and content won’t stick around forever,” Facebook CEO Mark Zuckerberg wrote in March. “This is the future I hope we will help bring about.”

Zuckerberg said the company is working to integrate the messaging functions of WhatsApp, Messenger and Instagram, and that he expects “Messenger and WhatsApp to become the main ways people communicate on the Facebook network.”

But many questions remain. The company has not said how long it will take for this messaging integration to get done, how expensive that shift will be or how it will monetize users’ private communications.

The social media company is making the shift to privacy after enduring a barrage of privacy troubles in the last year, from the Cambridge Analytica scandal in March 2018, which revealed that a political research firm used improperly acquired Facebook user data to target political ads in 2016, to a revelation last month that company employees could have accessed passwords from hundreds of millions of users.

Facebook’s advertising business has been able to weather the privacy scandals, but 74 percent of adult Facebook users in the U.S. say they have adjusted their privacy settings, taken a break from the social network or deleted the Facebook app from the phone at some point in the past year, according to a Pew Research Center survey in February.

Analysts expect Facebook to report revenue growth of 25 percent to $15 billion, from nearly $12 billion a year ago, according to estimates from Refinitiv. That would mark the slowest year-over-year growth for any quarter since Facebook’s IPO in 2012. Net income is expected to decrease to $1.63 a share from $1.69 a year earlier.

“For investors, we are asking ourselves, at what cost will this transformation come? Facebook has already beefed up their security staff and will need to make more investments in data privacy,” said Carter Henderson, portfolio specialist and director of institutional development at Fort Pitt Capital Group.

Already, Facebook’s advertising business is going through its own major shift as the company weans itself off News Feed ads and grows the ad revenue coming from its Stories products. The company claims to have 500 million daily Instagram Stories users, and investors will want to see that those figures are still growing.

“Stories advertising has proliferated on both traditional FB and Instagram, and management is working on monetizing stories at a higher rate,” Guggenheim analysts said in a note Thursday.

With Facebook adding an even broader shift to privacy into the mix, investors will want to hear from the company’s leadership about how its various other bets are playing out. Any progress from the company’s efforts with the monetization of WhatsApp and Messenger, sales of Oculus virtual reality headsets, the addition of an e-commerce feature to Instagram or the development of a blockchain-based Facebook cryptocurrency will be key to how investors react.

“Zuck’s announcement about the company’s pivot clearly shows that they will be investing in other revenue streams and business models outside of their core business,” said Henry Liu, a former Facebook employee and managing partner of YGC, an enterprise blockchain investment firm. “It’s important for investors to pay attention to what those things are.”

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: salvador rodriguez, saul loeb, afp, getty images
Keywords: news, cnbc, companies, planned, companys, privacy, shift, business, pivot, update, zuckerberg, facebook, brace, revenue, instagram, users, company, whatsapp, investors


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Walmart is getting into the Angus beef business

The nation’s largest grocer is creating its own end-to-end supply chain to sell no-hormone added Angus beef cuts in 500 Walmart stores across the southeast later this year. “Creating this supply chain allows us to treat our customers by giving them unprecedented quality and transparency.” However, the new supply chain won’t cover all of the retailer’s beef needs. Walmart shares were up less than 1 percent in trading on Wednesday. Tyson shares fell more than 1 percent.


The nation’s largest grocer is creating its own end-to-end supply chain to sell no-hormone added Angus beef cuts in 500 Walmart stores across the southeast later this year. “Creating this supply chain allows us to treat our customers by giving them unprecedented quality and transparency.” However, the new supply chain won’t cover all of the retailer’s beef needs. Walmart shares were up less than 1 percent in trading on Wednesday. Tyson shares fell more than 1 percent.
Walmart is getting into the Angus beef business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jessica bursztynsky, john gress, getty images
Keywords: news, cnbc, companies, walmart, shares, business, wont, cattle, tyson, beef, creating, getting, retailers, chain, angus, supply


Walmart is getting into the Angus beef business

Walmart announced Wednesday it is entering the beef industry.

The nation’s largest grocer is creating its own end-to-end supply chain to sell no-hormone added Angus beef cuts in 500 Walmart stores across the southeast later this year.

“Beef is an important purchase for our customer … it’s likely the most expensive item on their plate and they are treating themselves when they buy it,” said Scott Neal, senior vice president of meat, said in a press release. “Creating this supply chain allows us to treat our customers by giving them unprecedented quality and transparency.”

Walmart is working with Texas rancher Bob McClaren of 44 Farms and Prime Pursuits to source the cattle. Mc6 Cattle Feeders will assist with feeding the cattle. Creekstone Farms will process the cattle, then send it on to FPL Foods for packing. The company said its endeavor will create more than 450 jobs. It also will make sure these ranchers are seeing steady demand for their products.

Walmart did not respond to a request for comment from CNBC.

However, the new supply chain won’t cover all of the retailer’s beef needs. Currently Tyson and Cargill provide the majority of Walmart’s beef, and that likely won’t change.

Walmart’s announcement comes a year after it took over a milk processing plant in Indiana. It’s also half a year after its competitor Costco announced it was creating a poultry supply chain, which the company said will account for 40% of its needs, showing retailers’ shift in focus toward production.

In an increasingly competitive grocery industry, the retailers see having a transparent supply chain to be a selling point to consumers and a way to stand out among their rivals.

Walmart shares were up less than 1 percent in trading on Wednesday. Tyson shares fell more than 1 percent. Cargill is privately held.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: jessica bursztynsky, john gress, getty images
Keywords: news, cnbc, companies, walmart, shares, business, wont, cattle, tyson, beef, creating, getting, retailers, chain, angus, supply


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Kevin O’Leary: How to tell if you have what it takes to start your own business

As the star of ABC’s “Shark Tank,” Kevin O’Leary has a decade of experience assessing entrepreneurs who walk into the Tank. For entrepreneurs, the goal is for all the hard work to provide freedom later on. “The reason you do it is to provide freedom later in life,” O’Leary says. “The way to look at it is freedom,” O’Leary explains. Don’t miss: Kevin O’Leary on college admissions scandal: ‘I’ll tell you who you really screwed: Your kid’Like this story?


As the star of ABC’s “Shark Tank,” Kevin O’Leary has a decade of experience assessing entrepreneurs who walk into the Tank. For entrepreneurs, the goal is for all the hard work to provide freedom later on. “The reason you do it is to provide freedom later in life,” O’Leary says. “The way to look at it is freedom,” O’Leary explains. Don’t miss: Kevin O’Leary on college admissions scandal: ‘I’ll tell you who you really screwed: Your kid’Like this story?
Kevin O’Leary: How to tell if you have what it takes to start your own business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah berger
Keywords: news, cnbc, companies, youre, kevin, willing, tell, business, life, tank, oleary, employee, freedom, start, later, work, takes


Kevin O'Leary: How to tell if you have what it takes to start your own business

As the star of ABC’s “Shark Tank,” Kevin O’Leary has a decade of experience assessing entrepreneurs who walk into the Tank. And he’s learned the inherent difference between those people who are meant to be their own boss and those who are meant to be employees.

“It’s all about how you see yourself in the future,” O’Leary tells CNBC Make It. “If you’re willing to sacrifice your family life in your 20s and 30s – you’ll have no free time — and you’re willing to work 25 hours a day, eight days a week, then you’re an entrepreneur.”

O’Leary, who founded his own software company in 1986 and sold it to Mattel in 1999 for more than a reported $4 billion, always tells aspiring entrepreneurs they should be willing and ready to work all the time in order to be successful, and to “forget about balance.”

Because of that, for some being an employee is the right choice, O’Leary says. The workload of an employee is much more manageable.

“Being an employee, particularly a good one, allows you free time on weekends or to go to baseball games for your kids or to do things during your two- to three-week holiday that no entrepreneur ever gets, particularly when they’re working so hard,” he adds.

For entrepreneurs, the goal is for all the hard work to provide freedom later on.

“The reason you do it is to provide freedom later in life,” O’Leary says. “Freedom in a way that no employee ever gets, because when you’re an employee, you work for somebody else.”

For O’Leary, success as an entrepreneur now allows him to pursue his passions, like photography.

“You don’t do entrepreneurship for the greed of money,” he told CNBC Make It. “Because what does it mean to be wealthy in America? [It means] you’re personally free. That’s what’s important.”

“The way to look at it is freedom,” O’Leary explains. “How important is freedom to you later in life? If it’s very important, try the entrepreneurial path. It ain’t easy, but boy it’s worth it.”

Don’t miss: Kevin O’Leary on college admissions scandal: ‘I’ll tell you who you really screwed: Your kid’

Like this story? Subscribe to CNBC Make It on YouTube!

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sarah berger
Keywords: news, cnbc, companies, youre, kevin, willing, tell, business, life, tank, oleary, employee, freedom, start, later, work, takes


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Lululemon CEO: ‘We have very low brand awareness with men,’ but that business will double by 2023

Lululemon, known for its sports bras and yoga pants for women, still has some work to do to win men over. “We have very low brand awareness with men,” CEO Calvin McDonald told analysts during a meeting in New York on Wednesday. “The opportunity isn’t just to be known,” he said, “but also being understood” as a brand that men — not just women — can shop. At the end of last year, only about 21% of Lululemon’s business was coming from men’s, with 70% stemming from women’s. With bigger ambitions to


Lululemon, known for its sports bras and yoga pants for women, still has some work to do to win men over. “We have very low brand awareness with men,” CEO Calvin McDonald told analysts during a meeting in New York on Wednesday. “The opportunity isn’t just to be known,” he said, “but also being understood” as a brand that men — not just women — can shop. At the end of last year, only about 21% of Lululemon’s business was coming from men’s, with 70% stemming from women’s. With bigger ambitions to
Lululemon CEO: ‘We have very low brand awareness with men,’ but that business will double by 2023 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren thomas, matt winkelmeyer, getty images
Keywords: news, cnbc, companies, women, lululemon, sales, double, mens, men, awareness, brand, business, pants, low, known, lululemons, ceo, told, 2023


Lululemon CEO: 'We have very low brand awareness with men,' but that business will double by 2023

Lululemon, known for its sports bras and yoga pants for women, still has some work to do to win men over.

“We have very low brand awareness with men,” CEO Calvin McDonald told analysts during a meeting in New York on Wednesday. “The opportunity isn’t just to be known,” he said, “but also being understood” as a brand that men — not just women — can shop.

At the end of last year, only about 21% of Lululemon’s business was coming from men’s, with 70% stemming from women’s. Lululemon recently signed a deal with former Eagles quarterback Nick Foles to become its first men’s ambassador, as it makes strides to raise awareness among male consumers.

With bigger ambitions to rival the likes of Nike, Adidas and Under Armour, Lululemon is targeting a doubling of its men’s sales by 2023, meaning revenues in that category will eclipse $1 billion annually.

Chief Product Officer Sun Choe told analysts men have reacted exceptionally well to Lululemon’s “commuter” products — items like jogger pants that are designed to be worn around town to run errands, but also can be dressed up in an office setting. And so she said there will be a lot more of that on shelves this year and next, while Lululemon is also “taking cues from streetwear trends happening out there” as it designs new clothing.

“Guys don’t know Lululemon can be a brand for them,” Choe said. “But we have a ton of newness in the pipeline.”

Nike, bringing in $36.4 billion in sales in 2018, holds 18.3 percent of the overall U.S. sportswear market, which includes apparel and footwear, according to data compiled by Euromonitor. Adidas is second with 6 percent, Under Armour with 4.1 percent, Skechers with 2.6 percent and Lululemon with 1.9 percent as of the end of 2018, according to the firm.

Lululemon also on Wednesday said it soon plans to start making its own footwear, as it laid out a five-year growth plan with the goal of growing total sales annually by a low-teens percentage rate.

“Lululemon put out exciting targets and ones focused on new and existing categories alike,” Nomura Instinet analyst Simeon Siegel said.

Lululemon shares were up Wednesday afternoon less than 1%. The stock has soared more than 80% over the past 12 months.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren thomas, matt winkelmeyer, getty images
Keywords: news, cnbc, companies, women, lululemon, sales, double, mens, men, awareness, brand, business, pants, low, known, lululemons, ceo, told, 2023


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Kraft Heinz weighs sale of Ore-Ida frozen potato business

Tater Tot maker Ore-Ida is the latest brand Kraft Heinz is considering shedding as it scrambles to pay down debt and restructure its business following a disastrous quarterly report. Kraft Heinz has hired investment bank Evercore Partners to prepare a potential sale of its Ore-Ida brand, people familiar with the situation told CNBC. As shoppers have focused on fresh food, frozen food had developed a reputation as off-trend, but companies like Conagra and Green Giant owner B&G Foods eventually re


Tater Tot maker Ore-Ida is the latest brand Kraft Heinz is considering shedding as it scrambles to pay down debt and restructure its business following a disastrous quarterly report. Kraft Heinz has hired investment bank Evercore Partners to prepare a potential sale of its Ore-Ida brand, people familiar with the situation told CNBC. As shoppers have focused on fresh food, frozen food had developed a reputation as off-trend, but companies like Conagra and Green Giant owner B&G Foods eventually re
Kraft Heinz weighs sale of Ore-Ida frozen potato business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, sale, potential, giant, billion, kraft, weighs, heinz, pay, business, frozen, brand, brands, oreida, potato, food


Kraft Heinz weighs sale of Ore-Ida frozen potato business

Tater Tot maker Ore-Ida is the latest brand Kraft Heinz is considering shedding as it scrambles to pay down debt and restructure its business following a disastrous quarterly report.

Kraft Heinz has hired investment bank Evercore Partners to prepare a potential sale of its Ore-Ida brand, people familiar with the situation told CNBC. The brand could fetch roughly $1.5 billion to $2 billion, the people said, cautioning the process is still early and valuation is subject to buyer enthusiasm.

While Kraft Heinz’s focus is on the frozen potato maker, it would also consider a sale of its entire frozen food business, which includes brands like Smart Ones and Devour, should there be significant buyer interest, the people said.

Likely buyers could include Conagra, frozen potato company Lamb Weston, as well as private equity firms, said the people.

The people requested anonymity because the information is confidential. A spokesperson for Kraft Heinz declined to comment.

The potential divestitures come as Kraft Heinz is in the midst of its most significant executive shakeup since its formation. On Monday, the consumer giant announced that CEO Bernardo Hees will step down on June 30.

Hees, 49, will be replaced by Miguel Patricio, who worked for two decades at beer giant Anheuser-Busch InBev, including as chief marketing officer from 2012 through last year.

The incoming CEO said his focus will be on improving Kraft Heinz’s speed, organic growth, brand building and making the company more consumer focused. He would not comment on potential mergers or divestitures.

But outgoing CEO Hees had said the company is weighing divestitures to pay down debt. Kraft Heinz needs to slim its portfolio in order to bring leverage down to three times EBITDA, rather than the four times at which analysts say it is currently pegged. Analysts note it has $3 billion of debt coming due in 2020, which may have to be refinanced.

Top priority for Kraft Heinz is getting rid of brands it believes are particularly vulnerable to the private label goods now being pushed by retailers. While consumers may be willing to pay a bit more for products for which they have strong brand affinity, like Heinz ketchup, the same cannot be said for other products, like frozen potatoes.

As a whole, the frozen food industry has undergone a transformation in the past several years. As shoppers have focused on fresh food, frozen food had developed a reputation as off-trend, but companies like Conagra and Green Giant owner B&G Foods eventually realized they could revitalize frozen food brands. They have focused on ease of use and the nutritional benefits of freezing fresh food. Kraft Heinz has had its own success with Devour frozen meals and sandwiches.

Maxwell House coffeeand Breakstone’s cottage cheese and sour cream are among the other brands that Kraft Heinz is evaluating, CNBC has reported.

Kraft Heinz shares were up less than 1 percent in after-hours trading. The stock, which has a market value of more than $40 billion, has fallen 42% over the past year.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: lauren hirsch, daniel acker, bloomberg, getty images
Keywords: news, cnbc, companies, sale, potential, giant, billion, kraft, weighs, heinz, pay, business, frozen, brand, brands, oreida, potato, food


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Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse


Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach. While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse
Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


Apple CEO Tim Cook: Europe is leading the U.S. when it comes to tech regulation

Apple CEO Tim Cook said on Tuesday that regulation in technology is becoming increasingly important, but he doesn’t trust U.S. lawmakers to take a smart approach.

At a Time Magazine conference on Tuesday, Cook said that Europe’s GDPR (General Data Protection Regulation), which aimed to give consumers greater control over their data, was a good first step though it doesn’t go far enough. He’s skeptical of the U.S. pushing in the right direction because of the anti-regulation positions taken by American businesses.

“I’m not confident, is the short version of the statement,” Cook said, when asked how confident he is that the U.S. would come up with smart, non-destructive regulations. “I think this an example where Europe is more likely to come up with something. GDPR isn’t ideal but GDPR is a step in the right direction.”

Cook has been stressing the need for regulation of late, which is often self-serving because unlike tech giants such as Google and Facebook, Apple’s existing business wouldn’t be threatened by enhanced privacy requirements. In an op-ed in Time in January, Cook called on Congress to pass “comprehensive federal privacy legislation,” a theme he continued to stress at the conference on Tuesday.

“We all have to be intellectually honest,” Cook said. “We have to admit that there’s something we’re doing isn’t working and that the technology needs to be regulated. There are now too many examples where ‘no rails’ have resulted in great damage to society.”

While European regulators have been aggressive at trying to protect consumers, “U.S. business thinks all regulation is bad regulation,” he said. “Therefore there’s lots of gravity around not doing something.”

Cook did not name Google and Facebook, but he has been critical of their business models in the past. Cook has also called for the Federal Trade Commission to form a “data-broker clearinghouse” and requiring all data brokers to register.

In Europe, both Google and Facebook have faced significant challenges related to privacy. Facebook was embroiled in a scandal around how Cambridge Analytica, a consultancy, gained the information of 87 million Facebook users. Google has been force to comply with EU laws around “the right to be forgotten,” which require it to delete personal information about users in certain circumstances.

Because the majority of Apple’s revenue comes from selling computer equipment and phones, not by targeting and selling ads, it would need to make fewer changes if comprehensive privacy regulations were enacted.

“I am hopeful and we are advocating strongly for regulation because I do not see another path at this point,” Cook said.

WATCH: Walt Mossberg on Apple’s need for big innovation


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: kif leswing, spencer platt, getty images, source
Keywords: news, cnbc, companies, data, europe, comes, ceo, gdpr, right, business, privacy, google, leading, apple, cook, need, regulation, tim, facebook, tech


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Cramer Remix: Stick with this beverage stock for the long term

The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results. The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue. PepsiCo maintained its ful


The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results. The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue. PepsiCo maintained its ful
Cramer Remix: Stick with this beverage stock for the long term Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford, david paul morris, bloomberg, getty images, adam jeffery, scott mlyn, brendan mcdermid
Keywords: news, cnbc, companies, fritolay, business, company, money, beverage, cents, long, turn, stock, stick, remix, pepsico, term, cramer, share


Cramer Remix: Stick with this beverage stock for the long term

Investors should believe the top brass of a company with a good, long-term track record when its management says it can turn things around, CNBC’s Jim Cramer said Tuesday.

PepsiCo, which has doubled its dividend in the past decade, is one of those names to put faith behind even when analysts are against the odds, he said. The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results.

“If you gave PepsiCo the benefit of the doubt, you now have some terrific gains, and even after this move, I still like the stock for the long term because this team has proven that they can innovate on the fly,” the “Mad Money” host said.

The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. Frito-Lay has been surging, and the North American beverage business got a boost after introducing new packaging formats and new products in Bubly and LIFEWTR, he added.

In its earnings report last Wednesday, PepsiCo revealed that core sales grew 5.2%, its fastest pace in more than three years. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue.

PepsiCo maintained its full-year guidance, but Cramer said it could be a conservative call to under promise and over deliver.

“In response, the stock surged to new highs and the bears at Goldman Sachs [were] forced to upgrade the stock from sell back to neutral,” he said. “At what point do you think they have to go to a buy, if it goes down 30 cents, don’t you think?”

Get Cramer’s full insight here


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford, david paul morris, bloomberg, getty images, adam jeffery, scott mlyn, brendan mcdermid
Keywords: news, cnbc, companies, fritolay, business, company, money, beverage, cents, long, turn, stock, stick, remix, pepsico, term, cramer, share


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Warren Buffett: This is how to be successful

At 88, billionaire investing guru Warren Buffett is often considered the Yoda of the investing world. “By far the best investment you can make is in yourself,” Buffett recently told Yahoo Finance editor-in-chief Andy Serwer. Nothing happens,” Buffett told Serwer. Second, start taking care of your body and your mind when you are still young, Buffett said. “Well, I’ve said many times that If you get to be 65 or 70 and later and the people that you want to have love you actually do love you, you’re


At 88, billionaire investing guru Warren Buffett is often considered the Yoda of the investing world. “By far the best investment you can make is in yourself,” Buffett recently told Yahoo Finance editor-in-chief Andy Serwer. Nothing happens,” Buffett told Serwer. Second, start taking care of your body and your mind when you are still young, Buffett said. “Well, I’ve said many times that If you get to be 65 or 70 and later and the people that you want to have love you actually do love you, you’re
Warren Buffett: This is how to be successful Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: catherine clifford, david a grogan
Keywords: news, cnbc, companies, cant, success, taking, youd, warren, buffett, youre, business, told, world, successful, care


Warren Buffett: This is how to be successful

At 88, billionaire investing guru Warren Buffett is often considered the Yoda of the investing world. He’s the chairman of Berkshire Hathaway and is currently worth $86 billion, according to Forbes.

But his best wisdom on how to achieve success in business has nothing to do with profit and loss statements or stock portfolios.

“By far the best investment you can make is in yourself,” Buffett recently told Yahoo Finance editor-in-chief Andy Serwer.

First, “learn to communicate better both in writing and in person, they increase their value at least 50 percent. If you can’t communicate to somebody, it’s like winking at a girl in the dark. Nothing happens,” Buffett told Serwer. “You have to be able to get forth your ideas.”

Second, start taking care of your body and your mind when you are still young, Buffett said.

“If I gave you a car, and it’d be the only car you get the rest of your life, you would take care of it like you can’t believe. Any scratch, you’d fix that moment, you’d read the owner’s manual, you’d keep a garage and do all these things,” he said.

“You get exactly one mind and one body in this world, and you can’t start taking care of it when you’re 50. By that time, you’ll rust it out, if you haven’t done anything. So it’s just hugely important. And if you invest in yourself, nobody can take it away from you.”

Of course, Buffett is famous for his diet of Coke and McDonald’s, so he admitted people should do what he says, not what he does: “I’ll get a certain criticism for not living it,” he said.

Finally, Buffett’s definition of “true success” doesn’t have anything to do with money.

“Well, I’ve said many times that If you get to be 65 or 70 and later and the people that you want to have love you actually do love you, you’re a success,” Buffett told Serwer.

See also:

Billionaire ‘Shark Tank’ star Mark Cuban: This is how to know if a business will be successful

Google execs reveal secrets to success they got from Silicon Valley’s ‘trillion dollar’ business coach

Amazon’s Jeff Bezos: Why success depends on not being efficient sometimes

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Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: catherine clifford, david a grogan
Keywords: news, cnbc, companies, cant, success, taking, youd, warren, buffett, youre, business, told, world, successful, care


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A controversial part of Robinhood’s business tripled in sales thanks to high-frequency trading firms

The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. The company sends customers’ orders to high-frequency trading firms like Virtu or Citadel Securities instead of a stock exchange like the NYSE. As a private company, Robinhood is not required to disclose its income statements, which would paint a better picture of its revenue components. According to a Bloomberg report last year, Robinhoo


The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research. The company sends customers’ orders to high-frequency trading firms like Virtu or Citadel Securities instead of a stock exchange like the NYSE. As a private company, Robinhood is not required to disclose its income statements, which would paint a better picture of its revenue components. According to a Bloomberg report last year, Robinhoo
A controversial part of Robinhood’s business tripled in sales thanks to high-frequency trading firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: kate rooney
Keywords: news, cnbc, companies, business, trades, customers, sales, firms, orders, trading, tripled, highfrequency, revenue, robinhood, robinhoods, thanks, rowady, controversial, practice, company


A controversial part of Robinhood's business tripled in sales thanks to high-frequency trading firms

The revenue Robinhood gets from a controversial practice of selling customer trades to high frequency trading firms is skyrocketing, according to new research.

The popular millennial stock-trading app brought in $69 million in order routing revenue in 2018, according to a new estimate from Alphacution Research, three times what the company brought in a year earlier. So-called “payment for order flow,” is a common practice on Wall Street.

“This certainly means they’re growing,” Paul Rowady, director of research at Alphacution, told CNBC. “There’s a lot more flow going through Robinhood’s platform.”

The Menlo Park, California-based company has ushered in 6 million users and a $5.6 billion valuation in its five-year existence. Its no-fee model for stock trading has been successful in attracting millennials and put pressure on incumbents like Charles Schwab and TD Ameritrade, which charge $4.95 and $6.95, for trades, respectively.

Robinhood has faced criticism over its reliance on high-frequency traders, especially considering a founding ethos that some have categorized as “anti-Wall Street.” The company sends customers’ orders to high-frequency trading firms like Virtu or Citadel Securities instead of a stock exchange like the NYSE. These trades are executed in what’s known as a dark pool, which as the name suggests, lacks some transparency.

Critics of high-frequency trading say the practice, which takes milliseconds, can result in big market swings and also allow institutional investors to gain an upper hand over smaller retail investors.

“The question is, what does that suggest about the underlying execution quality? Are they are going to be biased based on who is paying the most?” Rowady said. “There’s a feeling that maybe because of mass tech and speed in everything, that there’s still some games being played.”

But the practice is hardly unique on Wall Street. Roughly 40 percent of all trading is done outside of exchanges — up from just 10 percent a decade ago, according to CFA Institute, a group of investment professionals. There are also regulations that require broker dealers to execute trades at the best price.

The entire industry saw a roughly 42 percent increase in overall order-routing revenue, according to Alphacution. TD Ameritrade for example, saw 43 percent growth in order-routing revenue year over year. Robinhood’s outsized percentage increase accounts for the fact that it was much smaller to start, Rowady said.

Robinhood makes money by taking a fraction of a cent per dollar from each trade order and collecting interest on customers’ deposits. It also has a paid subscription service called “Robinhood Gold,” unveiled in September 2016.

As a private company, Robinhood is not required to disclose its income statements, which would paint a better picture of its revenue components. As a registered broker-dealer, though, it does have certain required disclosures, which Alphacution used to estimate its totals.

According to a Bloomberg report last year, Robinhood brought in more than 40 percent of its revenue in early 2018 from selling its customers’ orders to high-frequency trading firms, or market makers. Robinhood’s co-founder and CEO Vlad Tenev defended the practice in a blog post.

Tenev said like its broker-dealer peers, the start-up “participates in rebate programs which help customers get additional price improvement for their orders by creating competition amongst the exchanges and liquidity providers who fill the orders, often resulting in superior execution quality.”

“We send your orders to the market maker that’s most likely to give you the best execution quality,” Tenev said a blog post. The company also said it does not take rebates into consideration. “All market makers with whom we work have the same rebate rate.”

Robinhood declined to comment on the 2018 revenue figures.

The growth in Robinhood’s revenue came alongside a massive increase in customers. The start-up jumped from 5 million to 6 million customers in a matter of months last year.

It also ended 2018 with a major misstep, though. The company announced in December that it would launch checking and savings accounts with an eye-popping, industry leading interest rate. Just a day later, Robinhood’s co-founders said they were re-naming and re-launching after regulators and Wall Street sounded the alarm.

“Robinhood is growing and their business plan seems to be working,” Rowady said. “It’s just a question of when you look below the components of revenue — is it sustainable, and how far can it go?”


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: kate rooney
Keywords: news, cnbc, companies, business, trades, customers, sales, firms, orders, trading, tripled, highfrequency, revenue, robinhood, robinhoods, thanks, rowady, controversial, practice, company


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