Jeffrey Epstein spent over $500,000 to fund never-completed episodes of a PBS science series the year before sex trafficking charges

A year prior to Jeffrey Epstein being accused of sex trafficking, he was quietly funding episodes of a science TV series that airs on PBS. The donation to Kuhn’s foundation is the largest donation Epstein made before he was arrested a year later on sex trafficking charges. The other donation from Epstein’s charity to Kuhn’s group came in 2017 for $150,000 and that, too, was part of Epstein’s investment into “Closer to Truth,” the series founder explained. Outside of the close allegiances he had


A year prior to Jeffrey Epstein being accused of sex trafficking, he was quietly funding episodes of a science TV series that airs on PBS.
The donation to Kuhn’s foundation is the largest donation Epstein made before he was arrested a year later on sex trafficking charges.
The other donation from Epstein’s charity to Kuhn’s group came in 2017 for $150,000 and that, too, was part of Epstein’s investment into “Closer to Truth,” the series founder explained.
Outside of the close allegiances he had
Jeffrey Epstein spent over $500,000 to fund never-completed episodes of a PBS science series the year before sex trafficking charges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: brian schwartz
Keywords: news, cnbc, companies, series, group, pbs, scientists, sex, epsteins, came, funding, fund, science, spent, jeffrey, kuhns, used, nevercompleted, epstein, later, trafficking, money


Jeffrey Epstein spent over $500,000 to fund never-completed episodes of a PBS science series the year before sex trafficking charges

U.S. financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services’ sex offender registry March 28, 2017 and obtained by Reuters July 10, 2019.

A year prior to Jeffrey Epstein being accused of sex trafficking, he was quietly funding episodes of a science TV series that airs on PBS.

“Closer to Truth,” a show that was created to help viewers gain a “better understanding of our human experience,” according to its website, was working on a group of episodes that would focus on the “nature of mathematics,” the program’s founder said in an interview.

The project has yet to be completed and lacks funding in the wake of Epstein’s death. An attorney for Epstein did not return a request for comment.

Robert Kuhn, the creator of “Closer to Truth,” said Epstein committed to funding the project in its entirety, agreeing to spend $1.4 million. The financial support came through Epstein’s nonprofit organization, Gratitude America, Ltd.

Part of the guaranteed money came in 2018, in the form of a $500,000 check that was sent to Kuhn’s Foundation from Gratitude America, according to Epstein’s group’s most recent 990 tax return obtained by CNBC. Kuhn said the money was being used to help produce the episodes.

The donation to Kuhn’s foundation is the largest donation Epstein made before he was arrested a year later on sex trafficking charges. After Epstein pleaded not guilty, he died in August while in federal lockup. His death was ruled a suicide.

The other donation from Epstein’s charity to Kuhn’s group came in 2017 for $150,000 and that, too, was part of Epstein’s investment into “Closer to Truth,” the series founder explained.

Epstein’s first engagement with Kuhn came a year before the multimillionaire sent in his first donation for the episodes. The two spoke on the phone and met numerous times at his apartment in New York, the shows creator says, after being introduced through a group of scientists, although he declined to name who those scientists were.

Kuhn said he had no knowledge of any of the accusations that were later levied against Epstein at the time of their first introduction in 2016 and in the future encounters he had with him. He called his behavior “reprehensible.”

“The obvious answer is that it’s totally reprehensible what’s been reported and it’s an example of how corruption can be used in human control,” he told CNBC. “It is an example of the corruption of power distorts your own reality and then exercises this power over people who are psychologically defenseless.”

Kuhn later explained that he cannot give away the money Epstein contributed because he’s already spent it on crafting some parts of the episodes but guaranteed he would, in the future, not use donor money to complete the project.

“I wouldn’t take money from anyone else to do this and if I do finish this, then I would do it with my own money,” he said. “I feel an obligation to finish it and wouldn’t ask anyone to fund it with this baggage.”

The discovery that Epstein was funding a science-based TV show is the latest example of how many who met him overlooked the financier’s previous legal disputes, which included being sentenced to a Florida jail in 2008 for soliciting a prostitute. He was sentenced to 18 months and ended up serving 13 months.

Epstein’s group finished 2018 giving out $891,000 in contributions, according to tax documents, including $10,000 to the New School in New York and $100,000 to a nonprofit called Humanity +, which describes itself as a group “dedicate[d] to elevating the human condition.”

The financial support for Kuhn’s show also gives a glimpse into how Epstein, behind the scenes, used his wealth to invest in nontraditional projects and to get access to leaders in various intellectual communities. Epstein donated regularly to Harvard and was known to have scientists as allies within the university.

Epstein had ties to a variety of scientists. According to a report by Buzz Feed News, Epstein had links to Martin Novak, a Harvard mathematical biologist, Lawrence Krauss, a legendary physicist, and George Church, a genetics professor at Harvard.

Outside of the close allegiances he had with scientists, Epstein was known to have clients in the business community, including longtime investor Leon Black. Epstein also came into contact with billionaire Bill Gates, who has since called the meetings a “mistake.”

Another past associate of Epstein’s was Donald Trump. Before he became president, Epstein and Trump reportedly used to party together but the two later had a falling out.


Company: cnbc, Activity: cnbc, Date: 2019-12-12  Authors: brian schwartz
Keywords: news, cnbc, companies, series, group, pbs, scientists, sex, epsteins, came, funding, fund, science, spent, jeffrey, kuhns, used, nevercompleted, epstein, later, trafficking, money


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Dow drops 200 points after worse-than-expected manufacturing data

The Dow Jones Industrial Average fell 200 points, or 0.8%. Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate


The Dow Jones Industrial Average fell 200 points, or 0.8%.
Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.”
Trade worries also offset stronger-than-expected manufacturing data out of China.
The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate
Dow drops 200 points after worse-than-expected manufacturing data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


Dow drops 200 points after worse-than-expected manufacturing data

Monday’s losses came after a strong performance in November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The Nasdaq rallied 4.5%.

The Dow Jones Industrial Average fell 200 points, or 0.8%. The S&P 500 pulled back 0.8% while the Nasdaq Composite traded 1.4% lower. The major averages started off the session with slight gains before turning lower.

Stocks dropped on Monday, the first trading day of December, as investors digested disappointing economic data along with the latest trade news after capping a month that featured blistering gains.

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

“The trend and momentum going into December are bullish,” said Bruce Bittles, chief investment strategist at Baird. “However, investor optimism is registering as excessive by many of the services we follow. While optimism is not euphoric, excessive investor optimism generally suggests a pause in a bull market.”

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.

“All in all, this should take some wind out of the sails of the argument that the U.S. economy is accelerating going into the end of the year,” said Jon Hill, vice president of rates strategy at BMO Capital Markets.

Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after Trump signed legislation supporting protesters in Hong Kong.

That comment came after Chinese state media reported Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.

Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. In a tweet, he said: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”

Trump noted in a separate tweet that “U.S. markets are up as much as 21%” since his first tariffs announcement on March 1, 2018, adding the U.S. is “taking in massive amounts of money.”

The percolating uncertainty around trade came despite Axios reporting, citing a source, that Trump is expected to hold off on additional tariffs against China set to kick in this month in the hopes of striking a deal before year-end.

Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate of 51.4.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


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Asia stocks mostly higher as investors watch for US-China trade updates

Stocks in Asia were mostly higher on Monday as investors looked for further developments on U.S.-China trade. Mainland Chinese stocks closed higher, with the Shanghai composite up 0.62% to about 2,909.20 and the Shenzhen composite gaining 0.715% to approximately 1,617.19. The moves came as the People’s Bank of China set its seven-day reverse repurchase (repo) rate at 2.5%. The moves came amid ongoing turmoil in Hong Kong, as the embattled city continues to be rocked by civil unrest that has now


Stocks in Asia were mostly higher on Monday as investors looked for further developments on U.S.-China trade.
Mainland Chinese stocks closed higher, with the Shanghai composite up 0.62% to about 2,909.20 and the Shenzhen composite gaining 0.715% to approximately 1,617.19.
The moves came as the People’s Bank of China set its seven-day reverse repurchase (repo) rate at 2.5%.
The moves came amid ongoing turmoil in Hong Kong, as the embattled city continues to be rocked by civil unrest that has now
Asia stocks mostly higher as investors watch for US-China trade updates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: eustance huang
Keywords: news, cnbc, companies, investors, asia, watch, uschina, higher, shares, updates, index, came, stocks, young, trade, close, moves


Asia stocks mostly higher as investors watch for US-China trade updates

Stocks in Asia were mostly higher on Monday as investors looked for further developments on U.S.-China trade.

Mainland Chinese stocks closed higher, with the Shanghai composite up 0.62% to about 2,909.20 and the Shenzhen composite gaining 0.715% to approximately 1,617.19. The Shenzhen component also advanced 0.7% to 9,715.27.

The moves came as the People’s Bank of China set its seven-day reverse repurchase (repo) rate at 2.5%.

“This is the first change to this rate since it was hiked in March 2018,” Julian Evans-Pritchard, senior China economist at Capital Economics, said in a note. “The move is a key step towards lowering marginal funding costs for banks, which rely heavily on repos as a source of short-run liquidity.”

Hong Kong’s Hang Seng index rose 1.35% to close at 26,681.09, with shares of Chinese tech juggernaut Tencent jumping 3.13%.

The moves came amid ongoing turmoil in Hong Kong, as the embattled city continues to be rocked by civil unrest that has now lasted for months. On Monday, a local high court ruled that a face mask ban enacted last month was “incompatible” with the city’s mini-constitution.

“One should divorce the markets issue, to an extent, from the political issue,” Hugh Young, managing director of the Asia Pacific region at Aberdeen Standard Investments, told CNBC’s “Street Signs” on Monday.

“The stocks listed there represent a lot more than Hong Kong itself,” Young said.

Elsewhere, Japan’s Nikkei 225 added 0.49% to close at 23,416.76 while the Topix index gained 0.24% to end its trading day at 1,700.72. Shares of Z Holdings — formerly known as Yahoo Japan — and Line rose 1.2% and 2.18%, respectively. The moves came as Softbank Corp announced plans to merge Z Holdings, its subsidiary, with Naver’s Line.

South Korea’s Kospi, on the other hand, slipped slightly to close at 2,160.69. Shares in Australia also edged lower, with the S&P/ASX 200 down 0.4% on the day to 6,766.80.

Overall, the MSCI Asia ex-Japan index was 0.5% higher.


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: eustance huang
Keywords: news, cnbc, companies, investors, asia, watch, uschina, higher, shares, updates, index, came, stocks, young, trade, close, moves


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Stocks making the biggest moves premarket: Exxon, Pinterest, Alibaba, Colgate, Amgen & more

Check out the companies making headlines before the bell:Exxon Mobil – The energy giant reported quarterly earnings of 75 cents per share, 8 cents a share above estimate. Colgate-Palmolive – The consumer products company beat estimates by a penny a share, with adjusted quarterly earnings of 71 cents per share. Pinterest – Pinterest reported a quarterly profit of a penny a share, compared to consensus forecasts of a 4 cents per share loss. The online hobby board operator’s revenue came in below e


Check out the companies making headlines before the bell:Exxon Mobil – The energy giant reported quarterly earnings of 75 cents per share, 8 cents a share above estimate.
Colgate-Palmolive – The consumer products company beat estimates by a penny a share, with adjusted quarterly earnings of 71 cents per share.
Pinterest – Pinterest reported a quarterly profit of a penny a share, compared to consensus forecasts of a 4 cents per share loss.
The online hobby board operator’s revenue came in below e
Stocks making the biggest moves premarket: Exxon, Pinterest, Alibaba, Colgate, Amgen & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, came, moves, stocks, biggest, premarket, estimates, pinterest, reported, revenue, making, alibaba, forecasts, quarter, cents, company, share, colgate, quarterly, amgen, exxon


Stocks making the biggest moves premarket: Exxon, Pinterest, Alibaba, Colgate, Amgen & more

Check out the companies making headlines before the bell:

Exxon Mobil – The energy giant reported quarterly earnings of 75 cents per share, 8 cents a share above estimate. Revenue also beat analysts’ forecasts. CEO Darren Woods said the company was making “excellent progress” on its long-term growth strategy.

Alibaba – The Chinese e-commerce giant beat analysts’ forecasts on both the top and bottom lines, with its results driven by increases in mobile users among other factors.

Colgate-Palmolive – The consumer products company beat estimates by a penny a share, with adjusted quarterly earnings of 71 cents per share. Revenue was very slightly below Wall Street forecasts, however. Volume increases and higher prices helped drive a 4.5% increase in organic sales.

Newell Brands – The maker of brands like Sharpie, Paper Mate, Sunbeam, and Mr. Coffee reported quarterly profit of 73 cents per share, beating the consensus estimate of 56 cents a share. Revenue also came in above estimates. Newell announced it was ending its divestiture program and will keep two units it had planned to sell.

AIG – The insurance company earned an adjusted 56 cents per share for the third quarter, below the consensus estimate of $1 a share. Revenue topped Street forecasts. Despite the profit miss, AIG reversed a year-ago loss on smaller catastrophe losses.

Amgen– Amgen struck a strategic partnership with China’s BeiGene, buying a 20% stake for $2.7 billion in cash. BeiGene will market three different Amgen products in the Chinese market and the two companies will split the financial results.

Pinterest – Pinterest reported a quarterly profit of a penny a share, compared to consensus forecasts of a 4 cents per share loss. The online hobby board operator’s revenue came in below estimates, however, amid slowing sales growth.

Avis Budget – Avis Budget earned an adjusted $2.96 per share for its latest quarter, well below the consensus estimate of $3.64 per share. The car rental company’s revenue missed forecasts, and it lowered its full-year revenue guidance. Like its rivals, Avis has been impacted by the growing popularity of ride-hailing services.

Arista Networks – Arista Networks came in 28 cents a share above estimates, with adjusted quarterly earnings of $2.69 per share. The networking equipment company’s revenue also came in above forecasts, however the company issued a current-quarter revenue forecast well below estimates due to a sudden drop in business with a single customer — believed by many to be Microsoft.

Las Vegas Sands, Wynn Resorts – Shares in the casino operators may come under pressure after gaming revenue in Macau fell 3.2% in October. Analysts said there has been a least a small impact on Macau gambling from anti-government protests in Hong Kong.

U.S. Steel – U.S. Steel lost 21 cents per share for the third quarter, 8 cents a share less than Wall Street was anticipating. The steel maker’s revenue also beat analysts’ estimates, but the company and its rivals are battling a weaker pricing environment.

El Pollo Loco – El Pollo Loco reported quarterly profit of 20 cents per share, 2 cents a share above estimates. The restaurant operator’s revenue also came in above forecasts. The company the third quarter started slow, but that momentum picked up in September and is continuing into the current quarter.


Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, came, moves, stocks, biggest, premarket, estimates, pinterest, reported, revenue, making, alibaba, forecasts, quarter, cents, company, share, colgate, quarterly, amgen, exxon


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Apple and Facebook earnings reactions, more economic data: 3 things to watch Thursday

For Apple’s fourth quarter, the company posted earnings of $3.03 per share. Analysts were expecting earnings per share of $2.83, according to estimates from FactSet. Revenue came in at $64 billion vs. the $63 billion in revenue expected. Facebook also beat expectations with earnings that came in at $2.12 vs. the $1.91 forecast by Refinitiv. Revenue came in at $17.65 billion vs. Refinitiv’s $17.37 billion forecast.


For Apple’s fourth quarter, the company posted earnings of $3.03 per share.
Analysts were expecting earnings per share of $2.83, according to estimates from FactSet.
Revenue came in at $64 billion vs. the $63 billion in revenue expected.
Facebook also beat expectations with earnings that came in at $2.12 vs. the $1.91 forecast by Refinitiv.
Revenue came in at $17.65 billion vs. Refinitiv’s $17.37 billion forecast.
Apple and Facebook earnings reactions, more economic data: 3 things to watch Thursday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: pippa stevens
Keywords: news, cnbc, companies, data, revenue, quarter, stock, company, share, things, reactions, facebook, report, watch, apple, earnings, economic, came, billion


Apple and Facebook earnings reactions, more economic data: 3 things to watch Thursday

Here are the most important things to know about Thursday before you hit the door.

Apple CEO Tim Cook pose next to an image of the new iPhone 11 after opening the newly renovated Apple Store at Fifth Avenue on September 20, 2019 in New York City. (Photo by Kena Betancur / AFP) (Photo credit should read KENA BETANCUR/AFP/Getty Images)

Apple and Facebook each beat market expectations in quarterly results released after the market closed on Wednesday, and their stocks were moving higher in after hours trading.

For Apple’s fourth quarter, the company posted earnings of $3.03 per share. Analysts were expecting earnings per share of $2.83, according to estimates from FactSet. Revenue came in at $64 billion vs. the $63 billion in revenue expected.

The report contains insight into demand for the company’s new iPhones. The iPhone 11 models went on sale ten days before the company’s quarter ended on September 30, so the quarterly report will include 10 days worth of sales data. Investors will also be watching guidance the company gives for its key holiday season.

Facebook also beat expectations with earnings that came in at $2.12 vs. the $1.91 forecast by Refinitiv. Revenue came in at $17.65 billion vs. Refinitiv’s $17.37 billion forecast.

The revenue estimate was about 27% higher than the $13.73 billion the company reported in the same quarter a year earlier.

Facebook might be facing regulatory headwinds, but the Street remains bullish on the name. Estimates compiled by FactSet show that 42 analysts have a buy rating on the stock. Five have a hold rating, and only one analyst — from Societe Generale — says to sell.

James Lee from Mizuho said the stock is one of his top picks in the US internet space, but that potentially light guidance could pressure shares after earnings are released. “We would be buyers on any weakness post-guidance,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-10-30  Authors: pippa stevens
Keywords: news, cnbc, companies, data, revenue, quarter, stock, company, share, things, reactions, facebook, report, watch, apple, earnings, economic, came, billion


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ISIS leader Baghdadi is believed to be dead after US operation in Syria

Abu Bakr al-Baghdadi, leader of the terrorist group ISIS, is believed to be dead after U.S. forces carried out an operation in Syria, NBC News reported, citing two American officials. The apparent attack on Baghdadi came days after Trump announced that Turkey agreed to a cease-fire against Kurdish forces in northern Syria. Eventually, that group gave way to Islamic State in Iraq, and Baghdadi rose through its ranks. He would form his own group, the brutal Islamic State of Iraq and Syria, which t


Abu Bakr al-Baghdadi, leader of the terrorist group ISIS, is believed to be dead after U.S. forces carried out an operation in Syria, NBC News reported, citing two American officials.
The apparent attack on Baghdadi came days after Trump announced that Turkey agreed to a cease-fire against Kurdish forces in northern Syria.
Eventually, that group gave way to Islamic State in Iraq, and Baghdadi rose through its ranks.
He would form his own group, the brutal Islamic State of Iraq and Syria, which t
ISIS leader Baghdadi is believed to be dead after US operation in Syria Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-27  Authors: mike calia
Keywords: news, cnbc, companies, believed, forces, iraq, state, leader, operation, group, isis, syria, came, islamic, dead, trump, baghdadi


ISIS leader Baghdadi is believed to be dead after US operation in Syria

An image grab taken from a video released on July 5, 2014 by Al-Furqan Media shows alleged Islamic State of Iraq and the Levant (ISIL) leader Abu Bakr al-Baghdadi preaching during Friday prayer at a mosque in Mosul.

Abu Bakr al-Baghdadi, leader of the terrorist group ISIS, is believed to be dead after U.S. forces carried out an operation in Syria, NBC News reported, citing two American officials.

The operation was carried out around midnight in Syria. The U.S. was conducting forensic tests to confirm that Baghdadi was among the dead, according to NBC News, but officials believe he was killed.

The mission came after the U.S. received actionable intelligence regarding Baghdadi in recent days. Various media outlets had previously reported that officials believe Baghdadi was killed.

The news came hours after the White House said late Saturday night that President Donald Trump would be making a “major statement” at 9 a.m. ET Sunday. It wasn’t immediately clear what the president would discuss.

The White House statement came more than an hour after Trump tweeted that “Something very big has just happened!” without disclosing further details.

The apparent attack on Baghdadi came days after Trump announced that Turkey agreed to a cease-fire against Kurdish forces in northern Syria. Trump’s decision to withdraw troops from the area had triggered concerns that the U.S. was not only abandoning a key ally in its fight against ISIS, but also potentially creating room for an ISIS revival.

Baghdadi, who was born in Iraq, became a key figure in the al Qaida in Iraq terror group in the years following the U.S. invasion of the country. Eventually, that group gave way to Islamic State in Iraq, and Baghdadi rose through its ranks. He would form his own group, the brutal Islamic State of Iraq and Syria, which took over prominent parts of Iraq, including the city Mosul.

U.S.-led forces in turn routed ISIS, forcing it to give up much of the territory it had seized. Baghdadi has been on the run, and has often been rumored to have been killed or gravely hurt.


Company: cnbc, Activity: cnbc, Date: 2019-10-27  Authors: mike calia
Keywords: news, cnbc, companies, believed, forces, iraq, state, leader, operation, group, isis, syria, came, islamic, dead, trump, baghdadi


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Stocks making the biggest moves premarket: Boeing, Caterpillar, Blackstone, Eli Lilly, Nike & more

Caterpillar – The heavy equipment maker missed estimates by 22 cents a share, with a quarterly profit of $2.66 per share. Blackstone – The private-equity firm reported distributable earnings per share of 58 cents per share, 5 cents a share above estimates. Hilton Worldwide – The hotel operator reported adjusted quarterly earnings of $1.05 per share, 3 cents a share above forecasts. Anthem – The health insurer came in 5 cents a share above estimates, with adjusted quarterly profit of $4.87 per sh


Caterpillar – The heavy equipment maker missed estimates by 22 cents a share, with a quarterly profit of $2.66 per share.
Blackstone – The private-equity firm reported distributable earnings per share of 58 cents per share, 5 cents a share above estimates.
Hilton Worldwide – The hotel operator reported adjusted quarterly earnings of $1.05 per share, 3 cents a share above forecasts.
Anthem – The health insurer came in 5 cents a share above estimates, with adjusted quarterly profit of $4.87 per sh
Stocks making the biggest moves premarket: Boeing, Caterpillar, Blackstone, Eli Lilly, Nike & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, premarket, moves, cents, making, blackstone, share, caterpillar, lilly, earnings, stocks, quarter, revenue, forecasts, adjusted, came, quarterly, eli, estimates, nike, boeing


Stocks making the biggest moves premarket: Boeing, Caterpillar, Blackstone, Eli Lilly, Nike & more

Check out the companies making headlines before the bell:

Boeing – The jet maker earned an adjusted $1.45 per share for the third quarter, well below the consensus estimate of $2.09 a share. Revenue was slightly above Wall Street forecasts. Boeing continues to target a fourth-quarter return to service for the 737 Max, even though most airlines have cut Max flights from their schedule until early 2020.

Caterpillar – The heavy equipment maker missed estimates by 22 cents a share, with a quarterly profit of $2.66 per share. Revenue also missed expectations and Caterpillar cut its full-year outlook as its results are impacted by weak demand in construction and mining equipment.

Blackstone – The private-equity firm reported distributable earnings per share of 58 cents per share, 5 cents a share above estimates. Revenue came in above analysts’ forecasts, as well. Fee-related earnings were up 27% from a year ago, and assets under management grew by 21%.

Eli Lilly – The drugmaker earned an adjusted $1.48 per share for the third quarter, 7 cents a share above estimates, helped by strong sales of diabetes drug Humalog. Revenue came in slightly below Street forecasts, however.

Hilton Worldwide – The hotel operator reported adjusted quarterly earnings of $1.05 per share, 3 cents a share above forecasts. Revenue also topped estimates and Hilton raised its full-year earnings forecast but narrowed its forecast for revenue per available room.

Anthem – The health insurer came in 5 cents a share above estimates, with adjusted quarterly profit of $4.87 per share. Revenue also beat forecasts. Anthem said its full-year earnings will top $19.40 per share, compared to a consensus estimate of $19.35 a share as sales of its government-backed health plans rise.

Nike – Nike Chairman and CEO Mark Parker will step down in January and take the role of executive chairman. Parker will be replaced by ServiceNow CEO John Donahoe, who is currently on the athletic footwear and apparel maker’s board of directors. ServiceNow will replace Donahoe with former SAP CEO Bill McDermott.

Chipotle Mexican Grill – Chipotle reported adjusted quarterly earnings of $3.82 per share, beating the consensus estimate of $3.22 a share. The restaurant chain’s revenue was also above Street forecasts, with comparable sales up 11% during the quarter and digital sales soaring nearly 88%.

Texas Instruments – Texas Instruments beat estimates by 7 cents a share, with quarterly profit of $1.49 per share. The chip maker’s revenue came in below analysts’ forecasts, however, and the company gave a weaker-than-expected revenue forecast amid a slump in industry demand.

Six Flags – Six Flags came in 20 cents a share below forecasts, with quarterly earnings of $2.11 per share. The amusement park operator’s revenue fell short, as well, despite a 3% increase in park attendance.

Snap – Snap lost 4 cents per share for its latest quarter, a penny a share less than Wall Street had been anticipating. The Snapchat parent’s revenue came in above analysts’ forecasts, as did the average revenue per user.

Whirlpool – Whirlpool earned an adjusted $3.97 per share for the third quarter, 8 cents a share above estimates. The appliance maker’s revenue fell short amid lower sales in Latin America.

Amazon.com – Amazon announced the expansion of its “Counter” program, which gives customers the option of picking up packages in-store at staffed locations.

Netflix – Netflix raised $2.2 billion in a sale of junk-rated bonds. The video streaming service plans to use some of that revenue to invest in new content amid intensifying competition.

iRobot – iRobot earned $1.24 per share for the third quarter, well above the consensus estimate of 52 cents, and the Roomba vacuum cleaner maker’s revenue exceeded forecasts as well. However, the stock Is being pressured by a weaker than expected holiday season outlook, with the company pointing to US tariffs on its vacuums among other factors.

Alphabet – Alphabet’s Google unit will reportedly be at the center of a meeting of state attorneys general in Colorado next month, according to Reuters. The meeting is said to center around an antitrust probe.


Company: cnbc, Activity: cnbc, Date: 2019-10-23  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, premarket, moves, cents, making, blackstone, share, caterpillar, lilly, earnings, stocks, quarter, revenue, forecasts, adjusted, came, quarterly, eli, estimates, nike, boeing


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Stocks making the biggest moves premarket: Biogen, Under Armour, P&G, Hasbro & more

Procter & Gamble – The consumer products giant beat estimates by 13 cents a share, with adjusted quarterly profit of $1.37 per share. Hasbro – The toymaker’s quarterly profit came in at an adjusted $1.84 per share, below the consensus forecast of $2.21. Harley-Davidson – The motorcycle maker earned 55 cents per share for its latest quarter, 3 cents a share above estimates. TD Ameritrade – TD Ameritrade reported adjusted quarterly profit of $1.05 per share, 7 cents a share above estimates. Celane


Procter & Gamble – The consumer products giant beat estimates by 13 cents a share, with adjusted quarterly profit of $1.37 per share.
Hasbro – The toymaker’s quarterly profit came in at an adjusted $1.84 per share, below the consensus forecast of $2.21.
Harley-Davidson – The motorcycle maker earned 55 cents per share for its latest quarter, 3 cents a share above estimates.
TD Ameritrade – TD Ameritrade reported adjusted quarterly profit of $1.05 per share, 7 cents a share above estimates.
Celane
Stocks making the biggest moves premarket: Biogen, Under Armour, P&G, Hasbro & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, estimates, stocks, moves, hasbro, armour, quarterly, came, biogen, quarter, latest, making, profit, biggest, premarket, adjusted, revenue, share, cents


Stocks making the biggest moves premarket: Biogen, Under Armour, P&G, Hasbro & more

Check out the companies making headlines before the bell:

Under Armour – Chairman and Chief Executive Officer Kevin Plank will step down as CEO Jan. 1. President and Chief Operating Officer Patrik Frisk will become president and CEO, with Plank moving into the role of executive chairman.

Procter & Gamble – The consumer products giant beat estimates by 13 cents a share, with adjusted quarterly profit of $1.37 per share. Revenue also came in above forecasts, boosted by strong demand for its premium beauty brands.

Hasbro – The toymaker’s quarterly profit came in at an adjusted $1.84 per share, below the consensus forecast of $2.21. Revenue also missed estimates. The company said the threat of tariffs on toys imported from China significantly increased its shipping and warehousing costs.

PulteGroup – The home builder beat estimates by 9 cents a share, with adjusted quarterly earnings of $1.01 per share. Revenue also scored a beat, helped by lower mortgage rates.

Travelers – The property and casualty insurer earned an adjusted $1.43 per share for the third quarter, below the consensus estimate of $2.35 a share. Revenue beat forecasts, however, but the bottom line was hurt by an increase in asbestos reserve costs.

Harley-Davidson – The motorcycle maker earned 55 cents per share for its latest quarter, 3 cents a share above estimates. Revenue also topped expectations. The better-than-expected performance came despite a hit to the bottom line from a drop in U.S. sales and higher costs from European tariffs.

Biogen – The drugmaker plans to file for Food and Drug Administration approval of its Alzheimer’s treatment aducanumab, after promising results for the drug in a clinical trial.

United Technologies – The industrial conglomerate earned an adjusted $2.21 per share for its latest quarter, above the $2.03 a share consensus estimate. Revenue also came in above analysts’ projections, and United Technologies raised its full-year forecast.

TD Ameritrade – TD Ameritrade reported adjusted quarterly profit of $1.05 per share, 7 cents a share above estimates. The online brokerage’s revenue was also above Wall Street forecasts. The company warned it expects an earnings decline as it adjusts to losing revenue after joining its rivals in cutting commissions to zero.

Stamps.com – Stamps.com announced a partnership with United Parcel Service which gives discount shipping rates to users of the company’s postage printing services.

Boeing – The jet maker maintained its quarterly dividend at $2.055 amid its struggles involving the grounded 737 Max jet. The latest dividend is payable Dec. 6 to shareholders of record as of Nov. 8.

Howard Hughes Corp. – Howard Hughes plans to sell about $2 billion in assets following a strategic review. The real estate developer also named Paul Layne – who had been president of the company’s central region – as its new CEO. The stock came under pressure after the announcement, with investors having believed the company would be sold or go private.

Bank of America – Bank of America was upgraded to “overweight” from “neutral” at Atlantic Equities, citing what it calls an impressive third quarter with ongoing deposit growth.

Novartis – Novartis posted better-than-expected earnings for its latest quarter, with the Swiss drugmaker also raising its guidance amid growing sales across its pharmaceutical portfolio.

Chevron – Chevron received an extension of its Venezuela-related waiver, allowing it and a number of U.S. oil services companies to operate in that country for another three months.

Celanese – Celanese reported adjusted quarterly profit of $2.53 per share, beating consensus by 2 cents a share. Revenue came in below estimates, however, and the company cut its forecast, citing the September explosion and fire and its chemical plant in Clear Lake, Texas.

Levi Strauss – Levi Strauss was rated “outperform” in new coverage at Macquarie Research, calling the jeans and apparel maker innovative, and praising the diversification of its revenue base.


Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, estimates, stocks, moves, hasbro, armour, quarterly, came, biogen, quarter, latest, making, profit, biggest, premarket, adjusted, revenue, share, cents


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Big Tech had its first big debate moment, and Democrats came out swinging

Big Tech had its first big moment in the 2020 presidential election during the latest Democratic debate. The big question came from the debate moderators: Do the largest tech companies need to be broken up? Not all the candidates, including Joe Biden, were called upon to answer the question of how Big Tech companies should be regulated. Elizabeth WarrenWarren’s rhetoric around the Big Tech has steered much of the conversation around how to regulate the industry. We need to enforce our antitrust


Big Tech had its first big moment in the 2020 presidential election during the latest Democratic debate.
The big question came from the debate moderators: Do the largest tech companies need to be broken up?
Not all the candidates, including Joe Biden, were called upon to answer the question of how Big Tech companies should be regulated.
Elizabeth WarrenWarren’s rhetoric around the Big Tech has steered much of the conversation around how to regulate the industry.
We need to enforce our antitrust
Big Tech had its first big debate moment, and Democrats came out swinging Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: lauren feiner
Keywords: news, cnbc, companies, harris, tech, came, large, antitrust, companies, swinging, moment, democrats, warren, president, big, debate, yang


Big Tech had its first big debate moment, and Democrats came out swinging

Big Tech had its first big moment in the 2020 presidential election during the latest Democratic debate. The big question came from the debate moderators: Do the largest tech companies need to be broken up? Massachusetts Sen. Elizabeth Warren’s call to break up Facebook, Amazon, Google and Apple framed much of the discussion around tech regulation. While each candidate who responded to the question Tuesday night agreed that unregulated power of these large firms poses a problem, few committed as firmly to break them up. Not all the candidates, including Joe Biden, were called upon to answer the question of how Big Tech companies should be regulated. Here are responses from those candidates who were asked about the question:

Andrew Yang

Yang, a tech entrepreneur himself, has been something of a darling to tech workers. The top three groups of contributors to his campaign are employees from Google parent company Alphabet, Amazon and Microsoft. But even Yang said the industry deserves more oversight. “As usual, Senator Warren is 100% right in diagnosing the problem,” Yang said at the debate. “There are absolutely excesses in technology, and in some cases having them divest parts of their business is the right move. But we also have to be realistic that competition doesn’t solve all of the problems.” Yang said no one “wants to use the fourth-best navigation app” and that breaking up Big Tech companies won’t necessarily “revive Main Street businesses around the country.” Antitrust action also won’t solve health problems that are correlated with children’s early exposure to technology, Yang said. Yang suggested that the current antitrust framework, developed in the 20th century, is not adequate to deal with today’s industries. “We need new solutions and a new toolkit,” he said. Later in the debate, Yang proposed an alternative solution to giving consumers more power in comparison to technology giants. “The best way we can fight back against Big Tech companies is to say our data is our property,” Yang said. “Right now, our data is worth more than oil. How many of you can remember getting your data check in the mail? It got lost, it went to Facebook, Amazon, Google. If we say this is our property and we share in the gains, that’s the best way that we can balance the scales against the Big Tech companies.”

Elizabeth Warren

Warren’s rhetoric around the Big Tech has steered much of the conversation around how to regulate the industry. The senator came out with her plan to “break up Big Tech” back in March and announced prior to the debate Tuesday that she would not accept donations from Big Tech executives over $200, widening the pool of donors from which she won’t accept large contributions. Warren has also said she won’t take large donations from executives at large banks, Big Pharma or fossil fuel companies. “You can’t go behind closed doors and take the money of these executives and then turn around and expect that these are the people who are going to actually finally enforce the laws,” Warren said on the debate stage. Addressing her stance on Big Tech, Warren used Amazon as an example, saying the company “runs the platform, gets all the information, and then goes into competition with those little businesses. Look, you get to be the umpire in the baseball game or you get to have a team, but you don’t get to do both at the same time. We need to enforce our antitrust laws, break up these giant companies that are dominating Big Tech, Big Pharma, Big Oil, all of them.” One area where Warren did not push as hard on tech was over Twitter’s decision to keep President Donald Trump’s tweets and account on the platform. Asked by Sen. Kamala Harris why Warren didn’t join her call for Twitter to suspend his account, Warren said, “I don’t just want to push Trump off Twitter, I want to push him out of the White House.”

Kamala Harris

Sen. Kamala Harris (D-CA) and Sen. Elizabeth Warren (D-MA) appear on television screens in the Media Center as they go back and forth during the Democratic Presidential Debate at Otterbein University on October 15, 2019 in Westerville, Ohio. Chip Somodevilla | Getty Images

Addressing her call for Twitter to suspend Trump’s account, Harris said it is “a grave injustice when rules apply to some but not to all, and in particular when the rules that apply to the powerless don’t apply to the powerful.” Harris wrote a letter to Twitter CEO Jack Dorsey earlier this month requesting he consider suspending Trump’s account for allegedly attempting to “target, harass” and “out” the whistleblower who made Trump the subject of an impeachment inquiry. Harris separately addressed a question about Facebook CEO Mark Zuckerberg’s claim that splitting up large tech companies would make it harder for those companies to tackle problems like disinformation around elections. “That’s a ridiculous argument he’s making,” Harris said.

Amy Klobuchar

The senator from Minnesota pointed out her position as the ranking member on the Senate Antitrust Subcommittee, which has been heavily involved in the conversation around Big Tech by questioning tech executives about their practices as well as the agency heads investigating the large tech firms. Klobuchar said that in her private sector experience representing companies trying to enter the telecom market, she saw prices go down in the long distance market once more competition was introduced. She called the current moment “another Gilded Age.” Klobuchar suggested taking a different approach to the antitrust conversation. “Start talking about this as a pro-competition issue,” Klobuchar said. “This used to be a Republican and Democratic issue, because America, our founding fathers, actually wanted to have less consolidation, we were a place of entrepreneurship.”

Bernie Sanders

Sanders seemed to take a similar stance to Warren’s, condemning the consolidation of industries including not just tech but also finance and media. “We need a president who has the guts to appoint an attorney general who will take on these huge monopolies, protect small business and protect consumers by ending the price fixing that you see every day,” Sanders said.

Beto O’Rourke

O’Rourke said the key to tech regulation is treating companies like publishers rather than utilities. The former congressman from Texas pointed to the false ad Warren recently ran on Facebook to see how far the company would go in refusing to fact check ads by politicians. “We would allow no publisher to do what Facebook is doing, to publish that ad that Senator Warren has rightfully called out, that CNN has refused to air because it is untrue and tells lies about the vice president,” O’Rourke said. “Treat them like the publisher that they are, that’s what I will do as president.” O’Rourke said he would “be unafraid to break up big businesses if we have to do that,” but he made a subtle jab at Warren by saying he doesn’t believe “it is the role of a president or a candidate for the presidency to specifically call out which companies will be broken up. That’s something that Donald Trump has done in part because he sees enemies in the press and wants to diminish their power, it’s not something that we should do.”

Cory Booker

Booker said the problem with tech is not just potentially anticompetitive behavior, but also how it is used “to undermine our democracy.” “We have a reality in this country where antitrust from pharma to farms is causing trouble. And we have to deal with this,” Booker said. “As president of the United States I will put people in place that enforce antitrust laws.”

Julian Castro

The former secretary of Housing and Urban Development did not specify how he would tackle the Big Tech companies but said “we’re on the right track in terms of updating how we look at monopolistic practices.” He added: “We need to take a stronger stance when it comes to cracking down on monopolistic trade practices, and that’s what I would do as president.”

Tom Steyer


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: lauren feiner
Keywords: news, cnbc, companies, harris, tech, came, large, antitrust, companies, swinging, moment, democrats, warren, president, big, debate, yang


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US says troops in Syria came under Turkish fire; says area was ‘known by the Turks’ to have Americans present

Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more


Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more
US says troops in Syria came under Turkish fire; says area was ‘known by the Turks’ to have Americans present Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, present, withmnuchin, substantial, set, impose, phase, americans, turks, wont, tariffs, oct, area, trump, round, known, syria, came, turkish, troops


US says troops in Syria came under Turkish fire; says area was 'known by the Turks' to have Americans present

Trump says the US has come to a substantial phase one deal with…

Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15.

Politics

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Company: cnbc, Activity: cnbc, Date: 2019-10-11
Keywords: news, cnbc, companies, present, withmnuchin, substantial, set, impose, phase, americans, turks, wont, tariffs, oct, area, trump, round, known, syria, came, turkish, troops


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