Big Tech closes out a big week with Microsoft, Apple and Alphabet all closing at records

The broad stock market rally that’s lifted U.S. indexes to record highs has been very good to Big Tech. All three tech giants reported better-than-expected revenue in their latest earnings report last month, and Microsoft and Apple also beat estimates on profit. On Friday, Microsoft gained 1.2%, Apple inched up 0.3%, and Alphabet rose 0.2%. But the company had the best week among the Big Tech crew, with the stock rising 2.9%. The other two mega-cap tech companies are still off their record highs


The broad stock market rally that’s lifted U.S. indexes to record highs has been very good to Big Tech.
All three tech giants reported better-than-expected revenue in their latest earnings report last month, and Microsoft and Apple also beat estimates on profit.
On Friday, Microsoft gained 1.2%, Apple inched up 0.3%, and Alphabet rose 0.2%.
But the company had the best week among the Big Tech crew, with the stock rising 2.9%.
The other two mega-cap tech companies are still off their record highs
Big Tech closes out a big week with Microsoft, Apple and Alphabet all closing at records Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: william feuer ari levy, william feuer, ari levy
Keywords: news, cnbc, companies, tech, records, big, apple, week, market, trade, stock, closes, alphabet, closing, highs, record, microsoft


Big Tech closes out a big week with Microsoft, Apple and Alphabet all closing at records

The broad stock market rally that’s lifted U.S. indexes to record highs has been very good to Big Tech.

Microsoft, Apple and Google parent Alphabet all closed at all-time highs on Friday, as investors continue to brush aside fears of a trade war and economic slowdown, focusing instead on the companies’ financials and dominance in their respective markets.

All three tech giants reported better-than-expected revenue in their latest earnings report last month, and Microsoft and Apple also beat estimates on profit.

On Friday, Microsoft gained 1.2%, Apple inched up 0.3%, and Alphabet rose 0.2%.

Apple has climbed in seven of the past eight trading days and reached a market cap of $1.16 trillion, making the iPhone manufacturer the world’s most valuable publicly-traded company, just ahead of Microsoft at $1.11 trillion. Apple’s stock is up 65% in 2019 and Microsoft has gained 44%, both trouncing the S&P 500, which has climbed 23%.

Alphabet has performed only slightly better than S&P 500 for the year, gaining 25% in 2019. But the company had the best week among the Big Tech crew, with the stock rising 2.9%. It’s notched gains in five of the past six trading days, making the company’s close on Thursday its highest since April.

The three companies combined now account for about 12% of the value of the S&P 500.

The stock market has been riding a wave of optimism regarding trade negotiations with China that’s propelled the Nasdaq Composite to six straight weekly gains and the S&P 500 to five consecutive positive weeks.

The other two mega-cap tech companies are still off their record highs reached last year. Amazon has dropped 12% from its highest close in September 2018, and Facebook is 12% off its record close from two months prior.

WATCH: How Apple CEO Tim Cook won over Trump amid a trade war


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: william feuer ari levy, william feuer, ari levy
Keywords: news, cnbc, companies, tech, records, big, apple, week, market, trade, stock, closes, alphabet, closing, highs, record, microsoft


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Stocks may be rallying to records, but the earnings outlook is darkening

Underneath the record-setting rally lies a worrisome earnings trend that is “uncommon and rarely good” for the stock market, UBS warned. S&P 500 companies now expect to grow their earnings by less than 1% year-over-year, compared to a 23% growth rate just 14 months ago, the bank pointed out. Historically, declining earnings expectations didn’t bode well for stocks as the last six times in the past 35 years have all seen compression in stock valuation and declines in the S&P 500, UBS said. “There


Underneath the record-setting rally lies a worrisome earnings trend that is “uncommon and rarely good” for the stock market, UBS warned.
S&P 500 companies now expect to grow their earnings by less than 1% year-over-year, compared to a 23% growth rate just 14 months ago, the bank pointed out.
Historically, declining earnings expectations didn’t bode well for stocks as the last six times in the past 35 years have all seen compression in stock valuation and declines in the S&P 500, UBS said.
“There
Stocks may be rallying to records, but the earnings outlook is darkening Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: yun li
Keywords: news, cnbc, companies, companies, darkening, forward, records, rallying, earnings, stock, outlook, quarter, expectations, stocks, trahan, 500, ubs


Stocks may be rallying to records, but the earnings outlook is darkening

Traders react after the closing bell at the New York Stock Exchange (NYSE) on August 5, 2019 at Wall Street in New York City.

Underneath the record-setting rally lies a worrisome earnings trend that is “uncommon and rarely good” for the stock market, UBS warned.

S&P 500 companies now expect to grow their earnings by less than 1% year-over-year, compared to a 23% growth rate just 14 months ago, the bank pointed out. Historically, declining earnings expectations didn’t bode well for stocks as the last six times in the past 35 years have all seen compression in stock valuation and declines in the S&P 500, UBS said.

“There is no debate on S&P 500 forward earnings: a contraction appears imminent,” UBS equity strategist Francois Trahan said in a note on Tuesday. “An actual contraction in forward earnings usually spells a difficult backdrop for the overall equity market.”

The Dow Jones Industrial Average hit another record close on Tuesday, while the rally in the S&P 500 seemed to have taken a pause with the index little changed in the session. Earnings for the S&P 500 are expected to decline by 3.1% for the third quarter, after growing by more than 3% in the second quarter, according to data from Refinitiv.

While the corporate earnings season has largely been better than expected as 75% of the S&P 500 companies that have reported topped analyst expectations, a third of the companies, or 164, issued lower earnings guidance, compared to only 68 of them at the beginning of the year, UBS said.

“The breadth in expectations is equally troubling,” Trahan said. “The most troubling part of all this is that it appears unlikely that the earnings picture will improve anytime soon.”

When forward earnings declined in the fourth quarter of 2018, the market suffered a brutal correction with the Dow and the S&P 500 experiencing their worst December since the Great Depression.

“They eventually rebounded but the correction, however short-lived, was severe,” Trahan said.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: yun li
Keywords: news, cnbc, companies, companies, darkening, forward, records, rallying, earnings, stock, outlook, quarter, expectations, stocks, trahan, 500, ubs


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Apple opens up its health records service to veterans with iPhones

Apple and the Department of Veterans Affairs announced Wednesday that veterans can now access their health information on their iPhone via Apple’s health records service. Non-veterans can also use Apple health records, but they’ll only see data if their health provider is integrated with the service. For Apple, the partnership represents a big stamp of approval for its health efforts, which have focused on health-tracking devices like Apple Watch and aggregating health information on behalf of c


Apple and the Department of Veterans Affairs announced Wednesday that veterans can now access their health information on their iPhone via Apple’s health records service.
Non-veterans can also use Apple health records, but they’ll only see data if their health provider is integrated with the service.
For Apple, the partnership represents a big stamp of approval for its health efforts, which have focused on health-tracking devices like Apple Watch and aggregating health information on behalf of c
Apple opens up its health records service to veterans with iPhones Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: christina farr
Keywords: news, cnbc, companies, opens, iphones, data, medical, records, veterans, service, partnership, iphone, health, information, apple


Apple opens up its health records service to veterans with iPhones

Apple and the Department of Veterans Affairs announced Wednesday that veterans can now access their health information on their iPhone via Apple’s health records service.

The move enables veterans to see their medical information in one place and share it with their doctors, even if they seek care from multiple providers. That includes immunizations, medications and lab results, as well as information that they gather from health-tracking apps.

Non-veterans can also use Apple health records, but they’ll only see data if their health provider is integrated with the service. Otherwise, they can access that information via other channels, like their hospitals’ patient record software, but that can be arduous.

To date, more than 40 health systems have signed up to work with Apple. With the new partnership, the VA’s hundreds of hospitals and clinics are now working with Apple.

For Apple, the partnership represents a big stamp of approval for its health efforts, which have focused on health-tracking devices like Apple Watch and aggregating health information on behalf of consumers. Scoring government deals could help Apple reassure users that it will keep their data safe.

Apple said earlier this year that it is working with the VA on bringing aggregated medical information to the iPhone, indicating that the partnership has been ongoing for months. “It’s truly an honor to contribute to the improved healthcare of America’s heroes,” CEO Tim Cook said in a statement less than a week before Veterans Day.

The company said the data will be encrypted and protected via the user’s iPhone passcode, Touch ID or Face ID.

Apple also said its service is the “first record-sharing platform of its kind” available to the VA, which represents the largest medical system in America and serves more than 9 million people.

It remains to be seen whether a similar service will be made available to veterans who have Android devices. The VA hasn’t announced partnerships with an Android maker, but it does have a slew of health apps available on the Google Play store.

Health experts say the move is part of a general push in government to open up access to health information, both between health-care entities and from doctors to patients. Efforts to solve the problem have struggled as many players in the health system don’t have a financial incentive to share data. Tech companies including Apple and Google have also been looking to solve problem as part of their efforts to break into the $3.5 trillion medical sector.

“I applaud this commitment to opening up APIs in the spirit of current rule-making,” said Aneesh Chopra, the former chief technology officer of the U.S. and a health-care entrepreneur. “This will mean veterans have the freedom to use apps they trust to help them make sense of their health information.”

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: christina farr
Keywords: news, cnbc, companies, opens, iphones, data, medical, records, veterans, service, partnership, iphone, health, information, apple


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Where to invest with stocks at records, according to two traders

With stocks at sky-high levels, MKM Partners chief market technician JC O’Hara says one corner of the market could offer value. Now remember, in 2018 health care was the best performing sector. However, year to date, health care is the second-worst performing sector just ahead of energy. The RYH ETF has surged 25% off December lows, ahead of the XLV health care ETF’s 18% increase. So for example, we like Verizon,” Petrides said during the same segment.


With stocks at sky-high levels, MKM Partners chief market technician JC O’Hara says one corner of the market could offer value.
Now remember, in 2018 health care was the best performing sector.
However, year to date, health care is the second-worst performing sector just ahead of energy.
The RYH ETF has surged 25% off December lows, ahead of the XLV health care ETF’s 18% increase.
So for example, we like Verizon,” Petrides said during the same segment.
Where to invest with stocks at records, according to two traders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: keris lahiff
Keywords: news, cnbc, companies, healthcare, market, petrides, verizon, invest, care, sector, according, stocks, health, really, think, records, traders


Where to invest with stocks at records, according to two traders

Stocks kicked off November with fresh records.

The S&P 500 has added 22% this year and roared more than 30% higher off its December bottom.

With stocks at sky-high levels, MKM Partners chief market technician JC O’Hara says one corner of the market could offer value.

“If I were to put new money to work today and look for new buying opportunities, I am really liking what I’m starting to see from the health-care sector. Now remember, in 2018 health care was the best performing sector. However, year to date, health care is the second-worst performing sector just ahead of energy. So you really haven’t seen 2018 momentum continue into 2019,” O’Hara said on CNBC’s “Trading Nation” on Friday.

“However, we’re starting to see individual stocks start to act well, and I think we have to be careful because if you just look at the health-care sector in general, the large weighting of Johnson & Johnson representing 10% is basically flat on the year, and that has really hidden a lot of underlying strength,” said O’Hara.

O’Hara says that strength can be seen in the RYH equal-weight health-care ETF which accounts for all the components of the sector in measure. The RYH ETF has surged 25% off December lows, ahead of the XLV health care ETF’s 18% increase.

“This positive momentum from the equal weight, from all the constituents within health care, I think that’ll carry through, and I think that’s an area we want to focus on,” he added.

John Petrides, portfolio manager at Tocqueville Asset Management, says global headwinds tied to China and trade, tensions in the Middle East, and political uncertainty in the U.S. could keep investors on their toes. However, he does like one name to hedge against any volatility.

“We still like the high dividend-yielding stocks that are low beta, low volatility relative to the market. So for example, we like Verizon,” Petrides said during the same segment.

Verizon has soared 9% in the past three months, while the S&P 500 has added 4%. It’s one of the top performers on the XLC communications services ETF.

“[With] Verizon you’re getting a 4%-plus dividend yield, the company grows its dividend higher than the rate of inflation for over the last decade or so, and they’re going to be right in the middle of the 5G rollout upgrade cycle within the telecom space and they have one of the highest quality mobile infrastructures in the world. So why not own a name like Verizon? Hit it down the fairway,” said Petrides.

Disclosure: Petrides personally owns Verizon shares; certain clients of Tocqueville do own shares of VZ.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: keris lahiff
Keywords: news, cnbc, companies, healthcare, market, petrides, verizon, invest, care, sector, according, stocks, health, really, think, records, traders


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China-backed hackers stole text messages and phone records in push for intelligence, report says

A state-backed Chinese hacking group called APT41 were able to hack into telecommunications firms’ servers and steal the contents of text messages for intelligence that was of interest to Beijing, according to a new report from cybersecurity firm FireEye. State-backed Chinese hackers were able to hack into telecommunications firms and steal the contents of text messages of “geopolitical interest” to Beijing, according to a new report. The group, known as APT41, used a malicious piece of software


A state-backed Chinese hacking group called APT41 were able to hack into telecommunications firms’ servers and steal the contents of text messages for intelligence that was of interest to Beijing, according to a new report from cybersecurity firm FireEye.
State-backed Chinese hackers were able to hack into telecommunications firms and steal the contents of text messages of “geopolitical interest” to Beijing, according to a new report.
The group, known as APT41, used a malicious piece of software
China-backed hackers stole text messages and phone records in push for intelligence, report says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, records, messages, hackers, used, beijing, text, steal, interest, contents, chinabacked, report, telecommunications, stole, chinese, servers, phone, intelligence, push


China-backed hackers stole text messages and phone records in push for intelligence, report says

A state-backed Chinese hacking group called APT41 were able to hack into telecommunications firms’ servers and steal the contents of text messages for intelligence that was of interest to Beijing, according to a new report from cybersecurity firm FireEye.

State-backed Chinese hackers were able to hack into telecommunications firms and steal the contents of text messages of “geopolitical interest” to Beijing, according to a new report.

The group, known as APT41, used a malicious piece of software or malware dubbed “Messagetap” to access servers responsible for sending and storing text messages, cybersecurity firm FireEye said. The company did not disclose the name of the telecom company.

Once in, the malware would search the contents of text messages for keywords of “geopolitical interest to Chinese intelligence collection.” It would also search for specific phone numbers of certain people from a database that the hackers had and were targeting.

While FireEye did not disclose which countries or individuals were targeted, the revelation of the hacking campaign comes at a time of increased concern about China’s use of technology for espionage. The U.S. has accused telecommunications equipment maker Huawei of being a national security threat and suggested that its gear could be used for espionage purposes by Beijing. Huawei has repeatedly denied these allegations.


Company: cnbc, Activity: cnbc, Date: 2019-11-01  Authors: arjun kharpal
Keywords: news, cnbc, companies, records, messages, hackers, used, beijing, text, steal, interest, contents, chinabacked, report, telecommunications, stole, chinese, servers, phone, intelligence, push


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The wrong kind of stocks are leading the stock market to records

This stock market rally to records is starting to look shaky. The S&P 500 refreshed its record again on Tuesday ahead of an expected rate cut from the Federal Reserve, but looking under the hood, investors are increasingly flocking to one of the safest pockets of the market — defensives. Health care stood out as the best-performing sector on Tuesday, lifted by Pfizer, Merck and HCA’s earnings beats. However, growth and more cyclical names — tech, communication services and consumer discretionary


This stock market rally to records is starting to look shaky.
The S&P 500 refreshed its record again on Tuesday ahead of an expected rate cut from the Federal Reserve, but looking under the hood, investors are increasingly flocking to one of the safest pockets of the market — defensives.
Health care stood out as the best-performing sector on Tuesday, lifted by Pfizer, Merck and HCA’s earnings beats.
However, growth and more cyclical names — tech, communication services and consumer discretionary
The wrong kind of stocks are leading the stock market to records Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: yun li
Keywords: news, cnbc, companies, stock, records, leading, market, kind, consumer, weaknessthe, stocks, names, wilson, growth, 500, wrong, earnings


The wrong kind of stocks are leading the stock market to records

This stock market rally to records is starting to look shaky.

The S&P 500 refreshed its record again on Tuesday ahead of an expected rate cut from the Federal Reserve, but looking under the hood, investors are increasingly flocking to one of the safest pockets of the market — defensives.

Health care stood out as the best-performing sector on Tuesday, lifted by Pfizer, Merck and HCA’s earnings beats. Consumer staples and real-estate stocks also outperformed. However, growth and more cyclical names — tech, communication services and consumer discretionary — have started to show signs of weakness.

“The S&P 500 is back at all time highs but with even greater defensive leadership it may warrant investor caution with respect to a growth reacceleration,” Mike Wilson, Morgan Stanley’s U.S. chief equity strategist, said in a note to clients on Monday.

The recent rotation into value from momentum has given beaten-down stocks a chance to shine, but it also serves a warning sign as stocks with superior growth leading the market’s bull run have begun to slow down. Some of the most adored FAANG names — Amazon and Google parent Alphabet — both disappointed on their quarterly earnings.


Company: cnbc, Activity: cnbc, Date: 2019-10-29  Authors: yun li
Keywords: news, cnbc, companies, stock, records, leading, market, kind, consumer, weaknessthe, stocks, names, wilson, growth, 500, wrong, earnings


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Stocks will likely hit new records in the week ahead if earnings keep topping expectations

The all-time highs could be tested as about 120 S&P 500 companies, or around 24%, are scheduled to release their quarterly results in the week ahead. The S&P 500 and Dow Jones Industrial Average are both around 1% below their all-time highs while the Nasdaq Composite is about 2% away from its record. Stocks will try in the week ahead to break the all-time highs set earlier in the year as a slew of S&P 500 companies get set to report. More than 14% of S&P 500 companies have reported through Frida


The all-time highs could be tested as about 120 S&P 500 companies, or around 24%, are scheduled to release their quarterly results in the week ahead.
The S&P 500 and Dow Jones Industrial Average are both around 1% below their all-time highs while the Nasdaq Composite is about 2% away from its record.
Stocks will try in the week ahead to break the all-time highs set earlier in the year as a slew of S&P 500 companies get set to report.
More than 14% of S&P 500 companies have reported through Frida
Stocks will likely hit new records in the week ahead if earnings keep topping expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-19  Authors: fred imbert
Keywords: news, cnbc, companies, expectations, highs, records, ahead, consumer, week, earnings, strategist, hit, topping, stocks, companies, alltime, likely, 500, trade


Stocks will likely hit new records in the week ahead if earnings keep topping expectations

“You’ve got the potential for a combination of things that drive us to new highs,” said Art Hogan, chief market strategist at National Securities. “At the same time you’re getting better micro data in the earnings, you’re getting better news on the macro hurdles facing us.”

The all-time highs could be tested as about 120 S&P 500 companies, or around 24%, are scheduled to release their quarterly results in the week ahead. Some of those companies include Caterpillar and Boeing, both of which are expected to report Wednesday before the bell. Amazon, Intel, McDonald’s and Chipotle Mexican Grill are also on deck for the week.

The S&P 500 and Dow Jones Industrial Average are both around 1% below their all-time highs while the Nasdaq Composite is about 2% away from its record. The indexes got a lift this after a big chunk of this week’s reporters posted better-than-expected results. They were also boosted by improving sentiment around Brexit and U.S.-China trade negotiations.

Stocks will try in the week ahead to break the all-time highs set earlier in the year as a slew of S&P 500 companies get set to report.

More than 14% of S&P 500 companies have reported through Friday, FactSet data shows. Of those companies, 81% posted earnings that beat analyst expectations.

J.P. Morgan Chase’s report on Tuesday sent the stock to an all-time high while Citigroup and Bank of America also got a boost from their earnings releases. Netflix, meanwhile, briefly rallied around 7% Thursday before ending the session up 2.5%. Morgan Stanley advanced 1.5% on earnings. Coca-Cola climbed more than 1% on Friday after releasing its quarterly numbers.

To be sure, the companies are being rated on a very low bar this earnings season. Analysts polled by FactSet expected third-quarter earnings to have fallen by 4.6%.

“Earnings can be a positive catalyst to the extent that expectations are pretty low,” said Dan Russo, chief market strategist at Chaikin Analytics. “The bar has been lowered to the point where companies can jump over it.”

But investors might have a harder time digesting the week’s reports.

Companies such as Caterpillar are heavily affected by the U.S.-China trade war given their exposure to overseas markets. Boeing and Intel also have overseas exposure. Meanwhile, reports from companies such as Amazon, McDonald’s and Chipotle will be heavily scrutinized as investors look for clues on how the consumer is doing.

“Trade frictions and the global economic slowdown have clearly affected 2019 earnings growth thus far,” Scott Wren, senior global equity strategist at Wells Fargo Investment Institute, said in a note. “The third-quarter earnings reporting season will likely confirm that those negatives continued to pour over into last quarter’s results.”

The good news for investors is recent trade talks appear to have yielded some progress. President Donald Trump announced Oct. 11 the U.S. and China had reached a “very substantial phase one” deal. Multiple reports this week said China wants additional talks before signing off on the first phase, but National Economic Council Director Larry Kudlow said Thursday there is “a lot of momentum” to finalize the deal.

John Augustine, chief investment officer at Huntington Private Bank, said the “narrative” around trade had gotten “so one-sided to the negative side, there may be a better chance than not that a phase-one deal is signed.”

Meanwhile, preliminary figures on consumer sentiment showed a slight increase in October from September. The final consumer sentiment numbers for the month are scheduled for release on Friday.

“If corporate earnings show signs of resilience, especially by the U.S. consumer, then a run to new highs is by no means out of the question,” Tom Essaye, founder of The Sevens Report, said in a note.


Company: cnbc, Activity: cnbc, Date: 2019-10-19  Authors: fred imbert
Keywords: news, cnbc, companies, expectations, highs, records, ahead, consumer, week, earnings, strategist, hit, topping, stocks, companies, alltime, likely, 500, trade


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Jay Z says this is the ‘genius thing’ he did when starting out in the music business

But there was one thing in particular that Carter did early in his career that he later called a “genius” move. Instead Carter, Dash and Burke, started their own label, called Roc-A-Fella Records, in 1994. Instead of signing with Def Jam, Carter eventually sold Roc-A-Fella Records to the label. In 2008, Carter founded entertainment agency, Roc Nation, as part of a venture with Live Nation. Roc Nation represents talent in both music and sports, including Rihanna and NBA star Kevin Durant.


But there was one thing in particular that Carter did early in his career that he later called a “genius” move.
Instead Carter, Dash and Burke, started their own label, called Roc-A-Fella Records, in 1994.
Instead of signing with Def Jam, Carter eventually sold Roc-A-Fella Records to the label.
In 2008, Carter founded entertainment agency, Roc Nation, as part of a venture with Live Nation.
Roc Nation represents talent in both music and sports, including Rihanna and NBA star Kevin Durant.
Jay Z says this is the ‘genius thing’ he did when starting out in the music business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: taylor locke
Keywords: news, cnbc, companies, rocafella, jam, music, starting, genius, label, business, started, nation, roc, records, million, jay, carter, thing


Jay Z says this is the 'genius thing' he did when starting out in the music business

Shawn “Jay-Z” Carter has had nothing short of a record-setting career: In June, Forbes dubbed Carter the first hip-hop artist to become a billionaire.

But there was one thing in particular that Carter did early in his career that he later called a “genius” move.

“In the beginning, we went to every single label and every single label shut their door on us,” Carter said at the 2010 Forbes 400 summit, referring to himself and his then-business partners Damon Dash and Kareem Burke.

“The genius thing that we did was we didn’t give up. We used that ‘what do they know’ approach. We didn’t give up at that point.”

Instead Carter, Dash and Burke, started their own label, called Roc-A-Fella Records, in 1994. Carter released his debut album “Reasonable Doubt” on Roc-A-Fella in 1996. Though sales started slow, the album caught the attention of label executives.

“I think that was the genius thing we did. We started selling our own CDs and built our own buzz,” Carter said in 2010. “Then, the record companies came back to us.”

Def Jam (a label that has now worked with artists like Justin Bieber and Kanye West) tried to offer Carter a deal at the time, according to The Wall Street Journal. In response, Carter replied, “I own the company I rap for.”

“We had a different negotiation, it wasn’t the same artist-label relationship,” Carter said at the 2010 summit. “Now, we retained ownership in our own company, and it was the best thing for us.”

Instead of signing with Def Jam, Carter eventually sold Roc-A-Fella Records to the label.

Def Jam first purchased half of Roc-A-Fella Records in 1997 for $1.5 million, and then bought the remaining half in 2004 for $10 million, according to MTV.

In 2008, Carter founded entertainment agency, Roc Nation, as part of a venture with Live Nation. Roc Nation represents talent in both music and sports, including Rihanna and NBA star Kevin Durant. Carter remains the CEO of Roc Nation today.

Carter has also invested in and launched companies including D’Ussé, a cognac he co-owns with Bacardi; Armand de Brignac, a champagne; and Tidal, a music-streaming service. The entertainment and business mogul also has a stake in Uber that Forbes estimated was worth $70 million in June.

As an artist, Carter has collected 14 No. 1 albums and 22 Grammy awards.

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Company: cnbc, Activity: cnbc, Date: 2019-10-18  Authors: taylor locke
Keywords: news, cnbc, companies, rocafella, jam, music, starting, genius, label, business, started, nation, roc, records, million, jay, carter, thing


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Some brokers game the system to scrub complaints from their records, report claims

A new report from an investor advocacy group claims that some brokers and brokerages — with the aid of a handful of law firms — are gaming the regulatory system to get customer complaints removed from their industry-related records, which means those claims won’t show up on BrokerCheck. A sign for the Financial Industry Regulatory Authority (FINRA) is seen outside the offices in New York’s financial district. The PIABA Foundation said it found instances of investors getting settlement awards of


A new report from an investor advocacy group claims that some brokers and brokerages — with the aid of a handful of law firms — are gaming the regulatory system to get customer complaints removed from their industry-related records, which means those claims won’t show up on BrokerCheck.
A sign for the Financial Industry Regulatory Authority (FINRA) is seen outside the offices in New York’s financial district.
The PIABA Foundation said it found instances of investors getting settlement awards of
Some brokers game the system to scrub complaints from their records, report claims Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: sarah obrien
Keywords: news, cnbc, companies, individual, system, brokerage, finra, expungement, complaints, firm, financial, foundation, records, report, cases, game, claim, claims, scrub, brokers


Some brokers game the system to scrub complaints from their records, report claims

If you’ve settled an arbitration case with your broker at some point, there’s a chance it isn’t showing up in the popular database used by consumers to check financial advisors’ backgrounds. A new report from an investor advocacy group claims that some brokers and brokerages — with the aid of a handful of law firms — are gaming the regulatory system to get customer complaints removed from their industry-related records, which means those claims won’t show up on BrokerCheck. That online search tool is operated by the brokerage industry’s self-regulatory organization, the Financial Industry Regulatory Authority, or FINRA, which oversees roughly 626,000 brokers and the 3,600 firms that employ them.

A sign for the Financial Industry Regulatory Authority (FINRA) is seen outside the offices in New York’s financial district. Brendan McDermid | Reuters

“Based on the results of this study, BrokerCheck can no longer be considered a reliable tool for investors to use when researching the background of brokers,” said Jason Doss, president of the PIABA Foundation, a nonprofit that released the report on Tuesday. A FINRA spokeswoman said rule proposals aimed at improving the process are coming. That would include the creation of a roster of specially qualified arbitrators to hear such cases. “We believe it is important to ensure that there is an appropriate process for investors to access information that is relevant to them about their financial advisors’ prior experience, while also providing financial professionals the opportunity to address incorrect or inaccurate information,” the spokeswoman said. The PIABA Foundation study is based on the group’s research of nearly 1,100 “expungement-only” arbitration cases processed by FINRA from 2015 through 2018. These cases arise when an individual broker, who was named in a customer complaint that gets settled through arbitration, then seeks to have the information scrubbed by filing a separate claim against the firm that also was involved in the settlement (and was their employer at the time of the complaint).

The group says that during the four years its research covered, the number of these expungement-only cases rose by 924% to 545 in 2018 from 59 in 2015 — 1,078 in all during that time. Here how it works: The broker seeking expungement files a $1 claim against the brokerage. That low amount reduces the incentive for the firm to protest, the foundation says. An added benefit: Just one FINRA-approved arbitrator hears the case instead of the more common three-person panel. “These are being done to limit the number of eyes that are looking at these expungement requests,” Doss said. More from Personal Finance:

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Fewer women now pay their credit card balances in full Of the 1,078 expungement-only cases initiated from 2015 through 2018, the brokerage firms did not oppose the individual broker’s expungement request in 1,055 cases — more than 98% of the time. The PIABA Foundation said it found instances of investors getting settlement awards of more than $100,000 that eventually were removed from a broker’s record. Attorney Julian Friedman, senior counsel in the New York office of law firm Ballard Spahr — who says he has represented individual brokers in expungement cases but none seeking just $1 — said the requests can be appropriate. Often, he said, a client complaint that names both the firm and the broker results in the brokerage settling, although there is never a finding of liability on behalf of the individual named.

The client’s claim could have been valid, but it could have been a claim based on the failure of the system [at the brokerage firm], not a failure of the individual person. Julian Friedman Senior counsel in the New York office of law firm Ballard Spahr


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: sarah obrien
Keywords: news, cnbc, companies, individual, system, brokerage, finra, expungement, complaints, firm, financial, foundation, records, report, cases, game, claim, claims, scrub, brokers


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Florida is scooping up huge amounts of data on schoolchildren, including security camera footage and discipline records, and researchers are worried

Ora Tanner discusses research on the data collection and collation of information about schoolchildren in Florida at an October 1 Aspen Institute event. Researchers from the Aspen Institute are raising concerns about a Florida initiative meant to collect and collate huge amounts of data on schoolchildren in the state, according to a report released Thursday. Florida schools are now required to collect, store and crunch data on students in the name of predicting school shootings. The Florida Scho


Ora Tanner discusses research on the data collection and collation of information about schoolchildren in Florida at an October 1 Aspen Institute event. Researchers from the Aspen Institute are raising concerns about a Florida initiative meant to collect and collate huge amounts of data on schoolchildren in the state, according to a report released Thursday. Florida schools are now required to collect, store and crunch data on students in the name of predicting school shootings. The Florida Scho
Florida is scooping up huge amounts of data on schoolchildren, including security camera footage and discipline records, and researchers are worried Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: kate fazzini
Keywords: news, cnbc, companies, florida, schools, school, institute, researchers, initiative, huge, worried, footage, scooping, records, security, information, data, schoolchildren, research, students, including


Florida is scooping up huge amounts of data on schoolchildren, including security camera footage and discipline records, and researchers are worried

Ora Tanner discusses research on the data collection and collation of information about schoolchildren in Florida at an October 1 Aspen Institute event.

Researchers from the Aspen Institute are raising concerns about a Florida initiative meant to collect and collate huge amounts of data on schoolchildren in the state, according to a report released Thursday.

Florida schools are now required to collect, store and crunch data on students in the name of predicting school shootings. The Florida Schools Safety Portal, or FSSP, executive order was issued by Gov. Ron DeSantis earlier this year in response to the 2018 shooting at Marjory Stoneman Douglas High School in Parkland, Florida.

The initiative comes at a time when large social media companies and app developers have encountered withering criticism and regulatory scrutiny over their collection of children’s data and possible violations of students’ privacy in using that data improperly.

“No evidence-based research has demonstrated that a data-driven surveillance system such as the FSSP will be effective in preventing school violence. In addition, no information is publicly available about how the database was designed, developed, or tested,” according to preliminary findings by researchers.

The Florida Department of Education did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: kate fazzini
Keywords: news, cnbc, companies, florida, schools, school, institute, researchers, initiative, huge, worried, footage, scooping, records, security, information, data, schoolchildren, research, students, including


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