Nearly 40% of Facebook’s valuation is on the line from regulatory risk, HSBC says

HSBC said regulatory overhang is equivalent to 38.5% of Facebook’s current valuation. But HSBC said its only a matter of time before the stock prices in the real threat of privacy, regulatory and antitrust risk. The results of the regulatory crackdown, including fines and policy changes could cost Facebook almost 40% of its market value, the firm said. Trust-busting, anti-competitive fines, privacy fines, taxation, merger control and telecoms-type regulation all pose potential implications to va


HSBC said regulatory overhang is equivalent to 38.5% of Facebook’s current valuation.
But HSBC said its only a matter of time before the stock prices in the real threat of privacy, regulatory and antitrust risk.
The results of the regulatory crackdown, including fines and policy changes could cost Facebook almost 40% of its market value, the firm said.
Trust-busting, anti-competitive fines, privacy fines, taxation, merger control and telecoms-type regulation all pose potential implications to va
Nearly 40% of Facebook’s valuation is on the line from regulatory risk, HSBC says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, telecomstype, regulatory, target, nearly, risk, line, share, facebook, fines, valuation, facebooks, hsbc


Nearly 40% of Facebook's valuation is on the line from regulatory risk, HSBC says

The Facebook logo is displayed during the F8 Facebook Developers conference on April 30, 2019 in San Jose, California.

Imagine $225 billion of Facebook’s $565 billion market cap was gone. That’s how much HSBC Global Strategies said is threatened by the social media giant’s dance with regulators.

The firm initiated coverage of Facebook with a reduce rating, recommending investors sell the stock. HSBC said regulatory overhang is equivalent to 38.5% of Facebook’s current valuation.

“Although it has taken time for policy makers and regulators to ready their ideas, it should now be clear they have well-advanced plans for intrusive interventions,” said HSBC senior analyst Nicolas Cote-Colisson in a note to clients.

Facebook has drawn negative attention from politicians and regulators from the U.S. and all over the world. The Federal Trade Commission, the the European Union have all announced investigations into Facebook, either on the tech giant’s practices on digital competition or concerns about its digital currency Libra. Despite the regulatory overhang, shares of Facebook are up over 50% this year. But HSBC said its only a matter of time before the stock prices in the real threat of privacy, regulatory and antitrust risk.

“In a sense, Facebook’s sheer pace of growth is becoming a risk factor in its own right, as it is likely to accelerate scrutiny and intervention,” said Cote-Colisson.

The results of the regulatory crackdown, including fines and policy changes could cost Facebook almost 40% of its market value, the firm said. Trust-busting, anti-competitive fines, privacy fines, taxation, merger control and telecoms-type regulation all pose potential implications to valuation.

“For instance, the possibility of imposition of telecoms-type regulation to make it easy for users to move to competitors,” said Cote-Colisson.

HSBC said due to the risk, growth will become more challenging, therefore consensus estimates are overly ambitious.

The average 12-month price target for Facebook on Wall Street is $238.28 per share, according to FactSet. HSBC lowered its 12-month price target for Facebook to $178 per share. Facebook’s stock closed at $198.71 on Wednesday.

—with reporting from CNBC’s Michael Bloom.


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, stock, telecomstype, regulatory, target, nearly, risk, line, share, facebook, fines, valuation, facebooks, hsbc


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Kenya forcing importers to use costly new Chinese railway, businessmen say

Voi railway station, part of Kenya’s Chinese-built railway which links the capital Nairobi to the port of Mombasa, pictured on May 31, 2017. The $3.3 billion line sliced hours off the journey from the port city of Mombasa to the capital, Nairobi. These importers used to truck their goods in from the coast. But port authorities now say businesses based in Nairobi and upcountry must use the new line because the Mombasa port is contracted to supply it with a minimum amount of cargo. “KPA has an obl


Voi railway station, part of Kenya’s Chinese-built railway which links the capital Nairobi to the port of Mombasa, pictured on May 31, 2017.
The $3.3 billion line sliced hours off the journey from the port city of Mombasa to the capital, Nairobi.
These importers used to truck their goods in from the coast.
But port authorities now say businesses based in Nairobi and upcountry must use the new line because the Mombasa port is contracted to supply it with a minimum amount of cargo.
“KPA has an obl
Kenya forcing importers to use costly new Chinese railway, businessmen say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-03
Keywords: news, cnbc, companies, costly, railway, businessmen, links, goods, line, truck, nairobi, mombasa, kenya, chinese, port, rail, used, importers, say, forcing


Kenya forcing importers to use costly new Chinese railway, businessmen say

Voi railway station, part of Kenya’s Chinese-built railway which links the capital Nairobi to the port of Mombasa, pictured on May 31, 2017.

Kenya’s new Chinese-built railway should have been a boon for business. The $3.3 billion line sliced hours off the journey from the port city of Mombasa to the capital, Nairobi.

But some importers said their transport costs shot up by nearly 50% when they used the rail due to extra fees, more time spent clearing goods at the congested Nairobi train depot and the need to send a truck to collect the goods from there.

These importers used to truck their goods in from the coast. But port authorities now say businesses based in Nairobi and upcountry must use the new line because the Mombasa port is contracted to supply it with a minimum amount of cargo.

“KPA has an obligation to feed the railway … we were the guarantors of the rail,” said Daniel Manduku, head of the state-run Kenya Ports Authority.

The railway’s problems are a cautionary tale, both for developing nations loading themselves with Chinese debt, and for China as it seeks to expand global trade links and project soft power through its massive Belt and Road initiative.

“The vast majority of its (China’s) overseas spending has no detectable effect on economic growth,” said Bradley Sparks, executive director of AidData, a research facility that tracks development finance at William and Mary university in Virginia.

China has sought to allay fears that its infrastructure projects overload some countries with debt.

Last year, it agreed to restructure more than $12 billion in repayments owed by Ethiopia, whose Chinese-funded railway is also struggling.

Now some Kenyan politicians are asking whether their railway was worth the cost.

Hundreds of people — residents, business owners and local leaders — hold weekly demonstrations in Mombasa against the mandatory movement of cargo by rail.

“This is a revolution,” lawmaker Mohammed Ali said earlier this month as demonstrators carried a mock coffin branded “RIP China Colonisation” in blood-red letters.


Company: cnbc, Activity: cnbc, Date: 2019-12-03
Keywords: news, cnbc, companies, costly, railway, businessmen, links, goods, line, truck, nairobi, mombasa, kenya, chinese, port, rail, used, importers, say, forcing


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Instagrammers love this iconic spot, but there’s something they don’t want you to see

If there is one thing that Instagram has shown us is that the world is filled with fascinating natural wonders. Unlike other hotspots of the photo-sharing world, Trolltunga — which translates to “Troll’s tongue” — is every bit as beautiful as photographs portray. Interestingly, the website for the regional tourism office keeps it real with an expectation-managing photograph of its most famous spot. It’s common to see photos of breathtaking Preikestolen, or Pulpit Rock, that typically look like t


If there is one thing that Instagram has shown us is that the world is filled with fascinating natural wonders.
Unlike other hotspots of the photo-sharing world, Trolltunga — which translates to “Troll’s tongue” — is every bit as beautiful as photographs portray.
Interestingly, the website for the regional tourism office keeps it real with an expectation-managing photograph of its most famous spot.
It’s common to see photos of breathtaking Preikestolen, or Pulpit Rock, that typically look like t
Instagrammers love this iconic spot, but there’s something they don’t want you to see Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: monica buchanan pitrelli
Keywords: news, cnbc, companies, spot, kjeragbolten, world, photos, instagrammers, line, love, iconic, dont, getty, wait, soldal, visitors, theres, trolltunga, rock


Instagrammers love this iconic spot, but there's something they don't want you to see

If there is one thing that Instagram has shown us is that the world is filled with fascinating natural wonders. The downside? There are few geological secrets anymore. What was once a tribe’s, then a town’s, and eventually a country’s pride and joy is now subject to the whims of the international traveling world — all 1.4 billion of us. Take Norway’s now-famous Trolltunga. Jutting 2,300 feet above the north side of Ringedalsvatnet lake, the natural rock formation resulted from receding glaciers that broke off large, angular blocks from area mountains. It’s easy to see why photos at the site are an instant hit.

Two visitors gaze off Norway’s Trolltunga. Oleh_Slobodeniuk | E+ | Getty Images

The serenity. The solitude.

Trolltunga in Hardangerfjord, Norway. Morten Rustad | 500px Prime | Getty Images

The stillness of the remote surroundings. But widen the frame a bit, and that’s not the story.

Tourism explosion at Trolltunga

A decade ago, fewer than 800 people a year traveled to Trolltunga. Next year, that figure’s expected to hit 100,000. Trolltunga was formed roughly 10,000 years before the advent of the internet, but social media has played a major role in its massive influx. A photo there seems to combine everything we’ve come to expect from online travel photos: distant lands, a touch of daredevilism, breath-taking scenery and a soul-searchingly authentic experience.

Trolltunga, from a different angle. Kotenko_A | iStock Editorial | Getty Images

“Instagram has elevated the interest in the site that really no conventional marketing campaign can do,” said Bo Vibe, head of digital marketing at Fjord Tours. “Getting the ‘selfie’ on the top becomes the end-all for many visitors.” “Facebook has probably had just as much influence as Instagram,” said Jostein Soldal, CEO of Trolltunga Active, citing effective local and national marketing campaigns, word of mouth and the sheer beauty of the area as other factors. Unlike other hotspots of the photo-sharing world, Trolltunga — which translates to “Troll’s tongue” — is every bit as beautiful as photographs portray. But that solemn mood conveyed on social media doesn’t match what’s happening just beyond the selfie-frame.

Tourists wait in line to be photographed on Trolltunga. Kotenko_A | iStock Editorial | Getty Images

As tourist numbers have increased, so have the lines. Visitors who arrive in the summer months have been known to wait longer than three hours to get a photograph on the tongue’s tip. The longest waits often result when good weather follows a long period of rain — and when the average number of visitors increases from 800 to 2,000 per day. Travelers who arrive from June to September should mentally prepare for an average wait of 60 to 90 minutes for a photo opp. “If you are prepared that there will be a line and spend the time just enjoying all the impressive poses many of the tourists are doing, the waiting is not a big issue,” said Soldal. Interestingly, the website for the regional tourism office keeps it real with an expectation-managing photograph of its most famous spot.

Trolltunga’s saving grace – it’s hard to get there

Consistently ranked one of the best hikes in Norway, the journey to reach Trolltunga isn’t an easy one. From Skjeggedal, it’s a 10- to 12-hour hike that covers 28 kilometers and an 800-meter ascent. Hikers need to be fit and equipped with food, water, headlights, hiking boots and other gear. Efforts to inform tourists of this have helped reduce rescue operations from an all-time high of 40 in 2016 to just 12 in 2018. Built in the early 1900s, a funicular called Mågelibanen once made the journey to Trolltunga considerably easier, but it closed in 2012. To date, the only way to reach it is by foot, a fact that suits the local population just fine, says Soldal. “We don’t want more visitors,” he said with a laugh. “Plus, if it’s a five-minute walk, the Trolltunga will lose some of its ‘I did it’ factor.” There is a steep, private road that takes travelers 400 meters up the mountain, but it’s still eight hours of hiking from there. Only 30 cars are allowed to park at a time, and the hairpin turns on the drive aren’t for the faint of heart.

Trolltunga isn’t alone

Trolltunga isn’t Norway’s only site to achieve Insta-fame. It’s common to see photos of breathtaking Preikestolen, or Pulpit Rock, that typically look like this:

Norway’s Preikestolen, or Pulpit Rock. Oleh_Slobodeniuk | E+ | Getty Images

But with 300,000 visitors a year — roughly three times as many visitors as Trolltunga — it’s better to assume it will look more like this in person.

Hiikers at Preikestolen. Xichao Yu | 500px | Getty Images

The journey to Pulpit Rock is a less-arduous, eight-kilometer hike that can be completed in three to four hours, making it a popular stop on the tourist bus and cruise ship circuit. Instagram is also rife with photos of Kjeragbolten, another picture-perfect geological wonder in Norway.

Woman atop Kjeragbolten. kotangens | iStock | Getty Images

But behind-the-scenes photos show that the line at Kjeragbolten is decidedly less zen.

Hikers wait in line to take a photo at Kjeragbolten. Courtesy of Ali Ronca at amsterdamandbeyond.com

How to avoid the crowds

For a less-congested experience, one option is to book an off-season tour. Winter tours reward visitors with open trails, little to no waits and beautiful snow-covered views, though the hike is more difficult and conditions can be too slick to step out onto the troll’s tongue. Off-season hikes — from October to May — can be dangerous for novices and should not be attempted without a guide. Early morning starts in high season are also possible, though it adds the extra challenge of hiking in darkness.

It’s an area where all logic says is not a place to settle down. And we have managed it for 8,000 years. Jostein Soldal CEO, Trolltunga Active


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: monica buchanan pitrelli
Keywords: news, cnbc, companies, spot, kjeragbolten, world, photos, instagrammers, line, love, iconic, dont, getty, wait, soldal, visitors, theres, trolltunga, rock


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Home Depot could be in line for a retail rebound, options traders say

There may be another twist in the tale of two retail stocks on the horizon, according to options traders. Home Depot and Lowe’s have experienced opposite fates recently. The companies – which share ties to both the retail and homebuilder industries – reported earnings within a day of each other last week, and while Home Depot faltered, Lowe’s surged higher. That means these buyers are betting that Home Depot will close the week at least 1% higher than where it closed Tuesday. This relatively inc


There may be another twist in the tale of two retail stocks on the horizon, according to options traders.
Home Depot and Lowe’s have experienced opposite fates recently.
The companies – which share ties to both the retail and homebuilder industries – reported earnings within a day of each other last week, and while Home Depot faltered, Lowe’s surged higher.
That means these buyers are betting that Home Depot will close the week at least 1% higher than where it closed Tuesday.
This relatively inc
Home Depot could be in line for a retail rebound, options traders say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: tyler bailey
Keywords: news, cnbc, companies, line, week, nathan, nov, stocks, rebound, lot, retail, depot, higher, traders, lowes, say, options


Home Depot could be in line for a retail rebound, options traders say

There may be another twist in the tale of two retail stocks on the horizon, according to options traders.

Home Depot and Lowe’s have experienced opposite fates recently. The companies – which share ties to both the retail and homebuilder industries – reported earnings within a day of each other last week, and while Home Depot faltered, Lowe’s surged higher. Over the past month, the stocks are down 6% and up 6%, respectively.

But as Risk Reversal Advisors co-founder Dan Nathan explained Tuesday on “Fast Money,” Home Depot might be about to catch a big break.

“We’ve talked about a lot of retail earnings over the last couple weeks, and there’s been a lot of dispersion in the results,” said Nathan. “[Home Depot] was kind of surprising. This stock gapped down from an all-time high on Nov. 19 and kept on going, but today, call volume got really hot. It was three times that of puts.”

As Nathan would point out, the most active contracts in Tuesday’s session were the Nov. 29 weekly $222.50 calls, which traded for an average of 36 cents. That means these buyers are betting that Home Depot will close the week at least 1% higher than where it closed Tuesday.

This relatively inconspicuous bet might not tell the whole story of how bullish options traders actually are about Home Depot.


Company: cnbc, Activity: cnbc, Date: 2019-11-27  Authors: tyler bailey
Keywords: news, cnbc, companies, line, week, nathan, nov, stocks, rebound, lot, retail, depot, higher, traders, lowes, say, options


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In 1996, a fired Bill Belichick approached Cowboys owner Jerry Jones in a checkout line to ask about a job

On Feb. 14, 1996, a then-43-year-old Belichick was let go as the head coach of the Cleveland Browns after five seasons. That’s when Belichick pitched himself to Jerry Jones, according to the Dallas Cowboys owner. At the time, Barry Switzer was the head coach for the Cowboys. Belichick was hired by the Patriots to be the assistant head coach under head coach Bill Parcells on Feb. 16, 1996. The following year in 1997, Belichick signed with The New York Jets as assistant head coach for three season


On Feb. 14, 1996, a then-43-year-old Belichick was let go as the head coach of the Cleveland Browns after five seasons.
That’s when Belichick pitched himself to Jerry Jones, according to the Dallas Cowboys owner.
At the time, Barry Switzer was the head coach for the Cowboys.
Belichick was hired by the Patriots to be the assistant head coach under head coach Bill Parcells on Feb. 16, 1996.
The following year in 1997, Belichick signed with The New York Jets as assistant head coach for three season
In 1996, a fired Bill Belichick approached Cowboys owner Jerry Jones in a checkout line to ask about a job Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: jade scipioni
Keywords: news, cnbc, companies, owner, jones, team, jerry, job, times, ski, patriots, cowboys, line, super, bill, fired, belichick, seasons, coach, checkout, head


In 1996, a fired Bill Belichick approached Cowboys owner Jerry Jones in a checkout line to ask about a job

The New England Patriots’ Bill Belichick, 67, currently holds the record for the most Super Bowls wins as the head coach of an NFL team (six), but his career has had its ups and downs.

On Feb. 14, 1996, a then-43-year-old Belichick was let go as the head coach of the Cleveland Browns after five seasons. At the time, the Browns’ owner said the change was necessary “to get to the next level” as the team relocated to Baltimore to become the Ravens.

That’s when Belichick pitched himself to Jerry Jones, according to the Dallas Cowboys owner.

“I was renting skis for my grandkids,” Jones said on Dallas radio show 105.3 The Fan on Wednesday. “There was a line and I was sitting in the back and someone bumps up against me a few times. And I turn around and there was this guy that I couldn’t make [out] because he had ski stuff. But it was Bill.”

Jones said Belichick told him, “I can coach. If you ever get an opportunity, don’t forget about me.”

At the time, Barry Switzer was the head coach for the Cowboys. But with Belichick’s success, Jones said the moment still replays in his mind more than 23 years later.

“I’ve thought about that many times. You never know where you can find a great coach. You can find them in a ski checkout line sometimes,” Jones said.

Belichick was hired by the Patriots to be the assistant head coach under head coach Bill Parcells on Feb. 16, 1996. In 1997, the Patriots went to Super Bowl XXXI but lost to the Green Bay Packers. The following year in 1997, Belichick signed with The New York Jets as assistant head coach for three seasons before becoming the head coach of Patriots in 2000.

Representatives for Belichick did not immediately respond to CNBC Make It’s request for comment.

Like this story? Like CNBC Make It on Facebook.

Don’t miss:

What NFL star Tom Brady eats and drinks before a big game

The habits Super Bowl MVP Nick Foles uses to boost his performance


Company: cnbc, Activity: cnbc, Date: 2019-11-20  Authors: jade scipioni
Keywords: news, cnbc, companies, owner, jones, team, jerry, job, times, ski, patriots, cowboys, line, super, bill, fired, belichick, seasons, coach, checkout, head


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Warby Parker is launching Scout, its own line of contact lenses

Eyeglasses retailer Warby Parker is launching its own line of contacts, available Tuesday in stores and online. Scout by Warby Parker, a daily lens, is the direct-to-consumer company’s first venture into contact lenses. Forty percent of Warby customers wear contacts on a regular basis in addition to their glasses, Gilboa said. Warby, which offers at-home try-ons for its glasses, is offering a similar model for its lenses. In select stores, customers can receive comprehensive eye exams and contac


Eyeglasses retailer Warby Parker is launching its own line of contacts, available Tuesday in stores and online.
Scout by Warby Parker, a daily lens, is the direct-to-consumer company’s first venture into contact lenses.
Forty percent of Warby customers wear contacts on a regular basis in addition to their glasses, Gilboa said.
Warby, which offers at-home try-ons for its glasses, is offering a similar model for its lenses.
In select stores, customers can receive comprehensive eye exams and contac
Warby Parker is launching Scout, its own line of contact lenses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, launching, line, lenses, parker, lens, contact, contacts, offering, scout, stores, glasses, gilboa, customers, warby


Warby Parker is launching Scout, its own line of contact lenses

Eyeglasses retailer Warby Parker is launching its own line of contacts, available Tuesday in stores and online.

Scout by Warby Parker, a daily lens, is the direct-to-consumer company’s first venture into contact lenses.

“We’re really excited to be a one-stop shop,” said Warby co-founder and co-CEO Dave Gilboa.

Forty percent of Warby customers wear contacts on a regular basis in addition to their glasses, Gilboa said. The brand’s hoping to target those wearers with the infrastructure that it’s built out over the past few years.

“We wanted to create a holistic offering,” Gilboa added.

Warby, which offers at-home try-ons for its glasses, is offering a similar model for its lenses. Customers with prescriptions can order a six-day trial of contacts for $5 before purchasing a three-month supply for $110. Warby is also selling lenses from other brands, such as Acuvue and Bausch + Lomb.

Warby launched online in 2010 and began opening its first stores in 2013. The company now has more than 100 stores in well-vetted markets across the U.S. In select stores, customers can receive comprehensive eye exams and contact lens fittings in addition to shopping for frames and sunglasses.

It’s also tripling the number of optometrists it has at locations this year, Gilboa said.

Launching Scout is a natural move for the brand, which has focused on ease and accessibility.


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, launching, line, lenses, parker, lens, contact, contacts, offering, scout, stores, glasses, gilboa, customers, warby


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Wall Street execs line up behind Mike Bloomberg–which could hurt fundraising for Biden, others

Bloomberg, the 77-year-old billionaire former mayor of New York, has said he will not conduct any fundraising and will self-finance a run for president. A private equity executive told CNBC on the condition of anonymity that a Bloomberg campaign represents an alternative to Biden and Harris. This executive preferred Biden and Harris to the field, but he has felt unimpressed with their campaigns in recent weeks. Biden, Warren, Sen. Bernie Sanders, Buttigieg and Harris will be under intense scruti


Bloomberg, the 77-year-old billionaire former mayor of New York, has said he will not conduct any fundraising and will self-finance a run for president.
A private equity executive told CNBC on the condition of anonymity that a Bloomberg campaign represents an alternative to Biden and Harris.
This executive preferred Biden and Harris to the field, but he has felt unimpressed with their campaigns in recent weeks.
Biden, Warren, Sen. Bernie Sanders, Buttigieg and Harris will be under intense scruti
Wall Street execs line up behind Mike Bloomberg–which could hurt fundraising for Biden, others Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: brian schwartz
Keywords: news, cnbc, companies, wall, fundraising, biden, mayor, mike, hurt, bloombergwhich, bloomberg, street, campaign, line, warren, tusk, told, execs, president, primary, bloombergs


Wall Street execs line up behind Mike Bloomberg–which could hurt fundraising for Biden, others

Mike Bloomberg won’t need the money if he runs for president, but some Wall Street executives are getting ready to line up behind him, and that could be bad news for other moderate Democratic contenders looking for a fundraising boost.

Bloomberg, the 77-year-old billionaire former mayor of New York, has said he will not conduct any fundraising and will self-finance a run for president. Yet his campaign could pull financial industry support from more moderate Democratic candidates such as former Vice President Joe Biden, South Bend, Indiana, Mayor Pete Buttigieg and Sen. Kamala Harris.

Former Morgan Stanley CEO John Mack has already told Bloomberg’s team that he’s “all in” if his longtime friend gets into the race, according to a person familiar with the matter who spoke on condition of anonymity because the conversation was deemed private. Mack is on the board of Bloomberg’s philanthropic group. He contributed $2,800 to Biden’s campaign in May, a Federal Election Commission filing shows. Biden finished the third quarter raising only $15 million.

Bloomberg has yet to announce whether he will enter the primary, but he has privately signaled to his associates that an announcement is likely by this weekend. Most people who know him are convinced he will be getting into the race, according to those familiar with the matter. His team has been interviewing and hiring aides for a potential run for president, these people added. Bloomberg also has dedicated $100 million in spending on digital attack ads against President Donald Trump, whether the former mayor runs or not.

Some of Biden’s supporters have been privately fretting that Bloomberg’s candidacy could split the moderate vote and clinch the candidacy for the more progressive Sen. Elizabeth Warren. A private equity executive told CNBC on the condition of anonymity that a Bloomberg campaign represents an alternative to Biden and Harris. This executive preferred Biden and Harris to the field, but he has felt unimpressed with their campaigns in recent weeks.

The fifth Democratic primary debate is set for Wednesday night. Biden, Warren, Sen. Bernie Sanders, Buttigieg and Harris will be under intense scrutiny.

Biden continues to lead the field nationally, although Warren and Sanders have doggedly remained in second and third place. Biden’s standing in early state primary polls has also been on shakier ground. Yet Bloomberg hasn’t shown that he has broken through to voters yet. A recent Morning Consult poll shows that Bloomberg has only 4% of support in the Democratic primary if he were to jump into the election. Biden still leads in most of the national polls.

Bradley Tusk, a venture capitalist and former mayoral campaign manager for Bloomberg, will be assisting Bloomberg’s political organization from the outside, a person with knowledge of the matter said. His role has yet to be fully determined and he won’t be leaving his company, Tusk Holdings, to work on the campaign. Tusk has a political advisory firm as part of his larger business named Tusk Strategies. He has written checks to a variety of candidates, including Buttigieg.

Joshua Steiner, a senior advisor at Bloomberg’s company and a co-chairman Castleton Commodities International, will also likely play an external role with the campaign, according to a friend of the former mayor.

Robert Steel, a partner at Perella Weinberg, and once a member of Bloomberg’s mayoral administration, has been acknowledging to his colleagues that Bloomberg could be a strong candidate for president, said people with knowledge of the matter. Prior to his role as the deputy mayor for economic Development, Steel was CEO of the defunct bank Wachovia. He also previously worked at Goldman Sachs.

Leon Cooperman, a longtime investor who has been at war with Warren, recently told CNBC that he would back Bloomberg if he ran for president.

Steiner did not deny that he might be involved with Bloomberg’s potential campaign and referred CNBC to the former mayor’s press team.

A spokesman for Bloomberg declined to comment. Mack, Tusk and Steel did not return requests for comment.

Bloomberg’s allies point to his experience in government and private enterprise, where he built one of the world’s largest fortunes. Forbes pegs his net worth at just over $55 billion.

“He’s just a very effective executive and manager who’s got a strong set of beliefs and value,” Walter Isaacson, a senior advisor at Perella Weinberg and a longtime board member of Bloomberg Philanthropies, told CNBC in an interview. “I think he would be a great chief executive.”


Company: cnbc, Activity: cnbc, Date: 2019-11-19  Authors: brian schwartz
Keywords: news, cnbc, companies, wall, fundraising, biden, mayor, mike, hurt, bloombergwhich, bloomberg, street, campaign, line, warren, tusk, told, execs, president, primary, bloombergs


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Here’s where two traders say to invest with the stock market at record highs

Bill Baruch, president of Blue Line Capital, says it pays to be careful but there are still pockets of opportunity. I like looking at the SOXX ETF, and that has [also] broken out, and not only did it break down in October and rally sharply, we’ve settled in, created a bull flag in November, and now with this bull flag, we’re moving out above there. A bull flag is formed during a period of consolidation. Two names in the tech sector and one financials stock look particularly enticing to Bapis. Di


Bill Baruch, president of Blue Line Capital, says it pays to be careful but there are still pockets of opportunity.
I like looking at the SOXX ETF, and that has [also] broken out, and not only did it break down in October and rally sharply, we’ve settled in, created a bull flag in November, and now with this bull flag, we’re moving out above there.
A bull flag is formed during a period of consolidation.
Two names in the tech sector and one financials stock look particularly enticing to Bapis.
Di
Here’s where two traders say to invest with the stock market at record highs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: keris lahiff
Keywords: news, cnbc, companies, stock, heres, sector, highs, flag, look, line, invest, traders, sectors, market, tech, higher, capital, bull, record, say, baruch


Here's where two traders say to invest with the stock market at record highs

Stocks are in never-before-seen territory.

The S&P 500, Dow Jones Industrial Average and Nasdaq look to open Monday morning higher, fresh off record closes last week.

Bill Baruch, president of Blue Line Capital, says it pays to be careful but there are still pockets of opportunity.

“I’m still worried that there could be something more broadly that just encourages a near-term correction, so I’m hesitant to chase things, but when I look at the charts, there are some names out there or some sectors out there that say they’re going higher,” Baruch said on CNBC’s “Trading Nation” on Friday.

One name on his watchlist is Alphabet, among the best-performing stocks over the past three months.

“There’s a rising trend line [in Alphabet] and it came in right about $1,300 in the early part of this month, and it broke out above there. Not only did it break out on November 7, it came back and retested $1,300 and held it,” Baruch said. “There’s higher to go, the chart is telling me this.”

Baruch is also bullish on another corner of the tech sector — semiconductors.

“The chips have been on fire, but I do want to avoid the idiosyncratic risk of owning a particular or one or two or handful of them. I like looking at the SOXX ETF, and that has [also] broken out, and not only did it break down in October and rally sharply, we’ve settled in, created a bull flag in November, and now with this bull flag, we’re moving out above there. So this is a very bullish setup.”

A bull flag is formed during a period of consolidation. It suggests to chart analysts that a stock or ETF is taking a breather before resuming its upward trend.

Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, says a number of sectors are beginning to show momentum.

“We still think there’s value, especially tech, financial and in health care because everything is starting to point in the right direction geopolitically,” Bapis said during the same segment. “Also, we’re seeing sectors that weren’t performing for whatever reason, start to perform from the tax overhaul, from the monetary stimulus.”

The information technology, health-care and financials sectors are among the best-performing groups on the S&P 500 this quarter.

Two names in the tech sector and one financials stock look particularly enticing to Bapis.

“Apple, Intel — they change their whole business model to be able to deal with the tariffs and trade wars as well as to be ahead of the innovation, and then you have companies like J.P. Morgan in the financial sector — still trading at 12 times earnings with a really good dividend yield in these interest rates environments,” Bapis said.

Apple, Intel and J.P. Morgan have been among the top drivers leading the market rally to records this year.

Disclosure: Blue Line Capital holds GOOGL and SOXX.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-11-18  Authors: keris lahiff
Keywords: news, cnbc, companies, stock, heres, sector, highs, flag, look, line, invest, traders, sectors, market, tech, higher, capital, bull, record, say, baruch


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Economic growth is close to zero for the fourth quarter, according to Fed gauges

An assembly line worker works on the production line at Midwest Automotive Designs in Bristol, Indiana, April 16, 2019. The U.S. economy will barely grow at all in the fourth quarter, if two Federal Reserve gauges that track gross domestic product are correct. With some recent data coming in below expectations, both the Atlanta and New York Fed’s trackers have lowered their expectations for the last three months of 2019. According to the Atlanta Fed’s GDPNow, growth is likely to come in at just


An assembly line worker works on the production line at Midwest Automotive Designs in Bristol, Indiana, April 16, 2019.
The U.S. economy will barely grow at all in the fourth quarter, if two Federal Reserve gauges that track gross domestic product are correct.
With some recent data coming in below expectations, both the Atlanta and New York Fed’s trackers have lowered their expectations for the last three months of 2019.
According to the Atlanta Fed’s GDPNow, growth is likely to come in at just
Economic growth is close to zero for the fourth quarter, according to Fed gauges Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-15  Authors: jeff cox
Keywords: news, cnbc, companies, close, line, zero, economic, production, quarter, according, took, week, fourth, feds, atlanta, gauges, expectations, york, recent, growth, fed


Economic growth is close to zero for the fourth quarter, according to Fed gauges

An assembly line worker works on the production line at Midwest Automotive Designs in Bristol, Indiana, April 16, 2019.

The U.S. economy will barely grow at all in the fourth quarter, if two Federal Reserve gauges that track gross domestic product are correct.

With some recent data coming in below expectations, both the Atlanta and New York Fed’s trackers have lowered their expectations for the last three months of 2019.

According to the Atlanta Fed’s GDPNow, growth is likely to come in at just 0.3%. The New York Fed’s GDP Nowcast is showing a gain of 0.4%.

Both projections have come on the heels of recent news that took down previously meager expectations to just above negative territory. Friday releases indicating lackluster retail sales and production growth took the Atlanta tracker down from 1% a week ago and the New York measure from 0.7% earlier this week and as high as 2% back in September.

Economic data has largely remained a bit better than expectations but has dipped lately compared with Wall Street estimates. The Citi Economic Surprise Index, which compares actual readings to consensus estimates, is still positive but at its lowest level since early September.


Company: cnbc, Activity: cnbc, Date: 2019-11-15  Authors: jeff cox
Keywords: news, cnbc, companies, close, line, zero, economic, production, quarter, according, took, week, fourth, feds, atlanta, gauges, expectations, york, recent, growth, fed


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SoftBank’s Yahoo Japan confirms merger talks with messaging app Line; stock skyrockets 16%

Yahoo Japan, which last month changed its name to Z Holdings, said on Thursday discussions were underway with Line but nothing had been decided. SoftBank, which owns almost half of Z Holdings, also acknowledged the talks. Shares in Z Holdings, which had a stock market value of about $17 billion at Wednesday’s close, jumped 16% in Thursday trading. SoftBank’s PayPay recently hit 19 million users through aggressive marketing, while Line Pay can tap the 82 million Japanese users of the Line app. Z


Yahoo Japan, which last month changed its name to Z Holdings, said on Thursday discussions were underway with Line but nothing had been decided.
SoftBank, which owns almost half of Z Holdings, also acknowledged the talks.
Shares in Z Holdings, which had a stock market value of about $17 billion at Wednesday’s close, jumped 16% in Thursday trading.
SoftBank’s PayPay recently hit 19 million users through aggressive marketing, while Line Pay can tap the 82 million Japanese users of the Line app.
Z
SoftBank’s Yahoo Japan confirms merger talks with messaging app Line; stock skyrockets 16% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14
Keywords: news, cnbc, companies, confirms, softbanks, holdings, skyrockets, messaging, softbank, tech, parent, stock, app, value, users, merger, japan, line, talks, billion, deal


SoftBank's Yahoo Japan confirms merger talks with messaging app Line; stock skyrockets 16%

The Line logo is displayed on a smartphone in this arranged photograph on July 11, 2016 in Tokyo, Japan.

SoftBank’s Yahoo Japan, one of Japan’s top internet firms, confirmed it is in talks to merge with Line, a $27 billion union that would bring the messaging app operator under the SoftBank umbrella in a major tech shake-up.

Yahoo Japan, which last month changed its name to Z Holdings, said on Thursday discussions were underway with Line but nothing had been decided. SoftBank, which owns almost half of Z Holdings, also acknowledged the talks.

Shares in Z Holdings, which had a stock market value of about $17 billion at Wednesday’s close, jumped 16% in Thursday trading.

Shares in Line, which is valued at about $10 billion, were untraded with a glut of buy orders.

Sources told Reuters the previous day a deal was likely by month-end and could see SoftBank and Line’s parent Naver form a 50/50 venture that would control Z Holdings, which would in turn operate Line and Yahoo.

Line said in a statement it was true it is considering ways to improve its corporate value but nothing had been decided.

A deal would bring together the operators of two of Japan’s biggest QR code payment apps as the country belatedly shifts to cashless payments. SoftBank’s PayPay recently hit 19 million users through aggressive marketing, while Line Pay can tap the 82 million Japanese users of the Line app.

Line, which last year sold a majority stake in its mobile unit to SoftBank, has reported three consecutive quarters of operating losses as the company tries to jump-start growth.

Z Holdings made a move in September to take control of fashion e-tailer Zozo in a $3.7 billion deal, as it bulks up against rivals such as Amazon.com.

Deal making by SoftBank, controlled by tech conglomerate SoftBank Group, comes despite the weak performance of the technology bets of its parent, which recorded an $8.9 billion operating loss in the second quarter.

The group’s first quarterly loss in 14 years followed a collapse in the value of its investment in office-sharing firm WeWork as investors have turned skeptical about the path to profitability at cash-burning startups.


Company: cnbc, Activity: cnbc, Date: 2019-11-14
Keywords: news, cnbc, companies, confirms, softbanks, holdings, skyrockets, messaging, softbank, tech, parent, stock, app, value, users, merger, japan, line, talks, billion, deal


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