Why this strategist says the sterling could remain buoyant

Why this strategist says the sterling could remain buoyant4 Hours AgoRodrigo Catril of NAB says there is “clearly no appetite” for a hard Brexit from the U.K. and Europe, which is likely to be good for the pound.


Why this strategist says the sterling could remain buoyant4 Hours AgoRodrigo Catril of NAB says there is “clearly no appetite” for a hard Brexit from the U.K. and Europe, which is likely to be good for the pound.
Why this strategist says the sterling could remain buoyant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19
Keywords: news, cnbc, companies, strategist, nab, hard, good, uk, hours, buoyant, pound, remain, likely, sterling


Why this strategist says the sterling could remain buoyant

Why this strategist says the sterling could remain buoyant

4 Hours Ago

Rodrigo Catril of NAB says there is “clearly no appetite” for a hard Brexit from the U.K. and Europe, which is likely to be good for the pound.


Company: cnbc, Activity: cnbc, Date: 2019-03-19
Keywords: news, cnbc, companies, strategist, nab, hard, good, uk, hours, buoyant, pound, remain, likely, sterling


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Lori Loughlin’s kids remain enrolled in USC amid bribe scandal

The scandal has cast a spotlight on one of the fastest-growing industries in education: college consultants. College consultants say Singer was a bad actor in an otherwise important industry that helps guide students in their college process. Demand is soaring, for kids of younger and younger ages. The most expensive programs can run to hundreds of thousands of dollars, consultants say. Some estimates say that college consultants are used by as much as 25 percent of students enrolled at private


The scandal has cast a spotlight on one of the fastest-growing industries in education: college consultants. College consultants say Singer was a bad actor in an otherwise important industry that helps guide students in their college process. Demand is soaring, for kids of younger and younger ages. The most expensive programs can run to hundreds of thousands of dollars, consultants say. Some estimates say that college consultants are used by as much as 25 percent of students enrolled at private
Lori Loughlin’s kids remain enrolled in USC amid bribe scandal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: dan mangan, robert frank, smxrf, star max, gc images, paul archuleta, filmmagic, getty images
Keywords: news, cnbc, companies, remain, loughlins, enrolled, consultants, younger, college, parents, ceo, scandal, lori, amid, say, acceptance, bribe, kids, school, singer, usc


Lori Loughlin's kids remain enrolled in USC amid bribe scandal

On Tuesday, the scheme’s mastermind, William “Rick” Singer, pleaded guilty to federal charges. Singer, founder and CEO of the Edge College & Career Network, had cooperated with investigators in the probe.

Other parents who have been charged include PIMCO CEO Douglas Hodge, now-former Hercules Capital CEO Manuel Henriquez, top lawyer Gordon Caplan and investment fund CEO Bill McGlashan.

On Thursday, former San Francisco 49ers superstar quarterback Joe Montana revealed on Twitter that his family had used Singer’s company — but said no fraud was involved in their relationship.

Professional golfer Phil Mickelson issued a similar statement.

It is not clear how many families with whom Singer had worked paid him for legitimate college consulting services.

But on a phone conversation recorded by the FBI, Singer said that he helps “the wealthiest families in the U.S. get their kids into school” and that he had helped with 761 so-called “side-door” admissions for parents. In those cases, he said, parents wanted a guaranteed admission to a certain school for their progeny as opposed to hoping for the student being admitted based on their grades and legitimate test scores or by virtue of a large financial donation to the school.

The cost to parents ranged from $200,000 to more than $1 million.

The scandal has cast a spotlight on one of the fastest-growing industries in education: college consultants. There are now about 8,000 private educational consultants in the U.S., up from 2,500 five years ago, according to the Independent Educational Consultants Association.

College consultants say Singer was a bad actor in an otherwise important industry that helps guide students in their college process.

Demand is soaring, for kids of younger and younger ages.

“Every other day I have a 2nd-grader or a 3rd-grader family calling me asking what can we do as a 2nd grader to help with the college admissions process,” said Christopher Rim, founder and chairman of Command Education, a college-admissions consulting firm.

“I say there’s nothing we can do,” Rim said. “The only thing for you to do is let your child do what he wants to do. If he’s interested in arts, ceramics, painting, music, let your child explore those passions or talents and then take it from there.”

Many advisors charge around $15,000 a year, with others charging by the hour — some charge more than $1,000 per hour. The most expensive programs can run to hundreds of thousands of dollars, consultants say.

Some estimates say that college consultants are used by as much as 25 percent of students enrolled at private colleges.

Advisors say their focus is helping kids figure out what they want in a school, steering them to the best fit and giving them a roadmap to get there.

The bull market for consultants is expected to continue, because college acceptance rates are continuing to shrink and because the criteria for getting into top schools remains opaque.

The acceptance rate for Stanford University, one of the schools Singer has admitted victimizing in his scam, was 20 percent in 1994. Stanford’s acceptance rate is now below 5 percent.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: dan mangan, robert frank, smxrf, star max, gc images, paul archuleta, filmmagic, getty images
Keywords: news, cnbc, companies, remain, loughlins, enrolled, consultants, younger, college, parents, ceo, scandal, lori, amid, say, acceptance, bribe, kids, school, singer, usc


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Algerian protesters win historic victory — but massive challenges remain

Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million. Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, a


Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million. Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, a
Algerian protesters win historic victory — but massive challenges remain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: natasha turak, farouk batiche, picture alliance via getty images, canal algerie, afp, getty images, -anthony skinner, mena politics director, verisk maplecroft
Keywords: news, cnbc, companies, country, historic, reelection, massive, victory, oil, question, bid, fifth, continued, protests, remain, algerian, protesters, challenges, statement, president, win


Algerian protesters win historic victory — but massive challenges remain

Algeria’s longtime president has conceded to popular demands to abandon his re-election bid after three weeks of massive protests rocked the North African country of 41 million.

But a giant question mark now hangs over what happens next, leaving Algerians and investors alike — particularly those in the oil and gas sector — mired in uncertainty.

“There will be no fifth term,” a statement from 82-year-old President Abdelaziz Bouteflika, who is in his 20th year in power but has rarely been seen in public since suffering a stroke in 2013, said on Monday.

Silent throughout the Arab Spring, Africa’s largest country and third-largest oil producer erupted in protest in late February after its ageing president announced his fifth re-election bid. The protests, leaderless and largely peaceful, represented a wide cross-section of society including students, teachers, lawyers, and the working class.

“There was never any question of it for me,” the president’s statement continued. “Given my state of health and age, my last duty towards the Algerian people was always contributing to the foundation of a new Republic.”

Algeria’s general election, scheduled for April 18, has now been postponed. But demonstrations continued this week in Algerian cities as protesters read Bouteflika’s concession as simply a maneuver to prolong his presidency.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: natasha turak, farouk batiche, picture alliance via getty images, canal algerie, afp, getty images, -anthony skinner, mena politics director, verisk maplecroft
Keywords: news, cnbc, companies, country, historic, reelection, massive, victory, oil, question, bid, fifth, continued, protests, remain, algerian, protesters, challenges, statement, president, win


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Mega Millions $1.5 billion winner stays anonymous—why that’s smart

A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history. The winner has decided to keep their identity a secret. Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”


A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history. The winner has decided to keep their identity a secret. Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”
Mega Millions $1.5 billion winner stays anonymous—why that’s smart Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: shawn m carter, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, millions, mega, smart, thats, south, 15, remain, billion, won, youve, changed, money, stays, ramassini, winner, anonymouswhy


Mega Millions $1.5 billion winner stays anonymous—why that's smart

A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history.

The winner has decided to keep their identity a secret. That’s wise, experts say.

While coming into money can be exhilarating, youmight not want to “shout this life-changing news from the rooftops,” says Rich Ramassini, a certified financial planner and the director of strategy and sales performance at PNC Investments.

Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “It can lead to you hearing from relatives or friends you never knew existed.”

Tomorrow Rodriguez, who won $1 million on “Deal or No Deal” in 2008, says she still hesitates to talk about her winnings for that reason: “The worst part of winning is sometimes you find the people closest to you treat you a little different,” she says.

“They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”

And the New Hampshire womanwho won the $559.7 million Powerball jackpot in 2018 actually went to court for — and won — the right to remain unnamed.

It’s likely she would have been “subject to an alarming amount of harassment, solicitation and other unwanted communications” had her identity been made public, the judge wrote in his ruling.

Luckily for this Mega Millions winner, South Carolina is one of a handful of states that allow lottery winners to remain anonymous.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: shawn m carter, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, millions, mega, smart, thats, south, 15, remain, billion, won, youve, changed, money, stays, ramassini, winner, anonymouswhy


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Mega Millions $1.5 billion winner stays anonymous—why that’s smart

A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history. The winner has decided to keep their identity a secret. Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”


A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history. The winner has decided to keep their identity a secret. Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”
Mega Millions $1.5 billion winner stays anonymous—why that’s smart Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: shawn m carter, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, stays, millions, money, 15, changed, youve, smart, anonymouswhy, billion, ramassini, mega, south, winner, thats, remain, won


Mega Millions $1.5 billion winner stays anonymous—why that's smart

A South Carolina resident has come forward to claim the $1.5 billion Mega Millions jackpot from last October, the largest payout to a single winner in U.S. history.

The winner has decided to keep their identity a secret. That’s wise, experts say.

While coming into money can be exhilarating, youmight not want to “shout this life-changing news from the rooftops,” says Rich Ramassini, a certified financial planner and the director of strategy and sales performance at PNC Investments.

Instead, keep a low profile and tell only a few people you’re close to, if that’s possible, because “money can change, disrupt or end relationships,” Ramassini says. “It can lead to you hearing from relatives or friends you never knew existed.”

Tomorrow Rodriguez, who won $1 million on “Deal or No Deal” in 2008, says she still hesitates to talk about her winnings for that reason: “The worst part of winning is sometimes you find the people closest to you treat you a little different,” she says.

“They say you’ve changed, but it’s not that you’ve changed — they’ve changed when they can’t get what they want.”

And the New Hampshire womanwho won the $559.7 million Powerball jackpot in 2018 actually went to court for — and won — the right to remain unnamed.

It’s likely she would have been “subject to an alarming amount of harassment, solicitation and other unwanted communications” had her identity been made public, the judge wrote in his ruling.

Luckily for this Mega Millions winner, South Carolina is one of a handful of states that allow lottery winners to remain anonymous.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: shawn m carter, getty images, caiaimage robert daly
Keywords: news, cnbc, companies, stays, millions, money, 15, changed, youve, smart, anonymouswhy, billion, ramassini, mega, south, winner, thats, remain, won


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There is only one strategy investors need to follow, staying patient

Staying the course will benefit you in the long run 12:44 PM ET Wed, 13 Feb 2019 | 00:48For first-time investors, getting started can seem daunting, especially when the market is experiencing a lot of volatility. Instead, stay focused on your long-term goals. Though tempting, do not compare your returns to a single index or to other investors for that matter. Research has shown that the most successful long-term investors remain patient during swings in the market. Staying the course could mean


Staying the course will benefit you in the long run 12:44 PM ET Wed, 13 Feb 2019 | 00:48For first-time investors, getting started can seem daunting, especially when the market is experiencing a lot of volatility. Instead, stay focused on your long-term goals. Though tempting, do not compare your returns to a single index or to other investors for that matter. Research has shown that the most successful long-term investors remain patient during swings in the market. Staying the course could mean
There is only one strategy investors need to follow, staying patient Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: aj horch
Keywords: news, cnbc, companies, staying, remain, longterm, follow, goals, financial, investors, need, patient, strategy, lot, market, single, course


There is only one strategy investors need to follow, staying patient

Staying the course will benefit you in the long run 12:44 PM ET Wed, 13 Feb 2019 | 00:48

For first-time investors, getting started can seem daunting, especially when the market is experiencing a lot of volatility. Day-to-day fluctuations in the market are often influenced by outside forces, like trade disputes and uncertainty.

That is why it is important to remain calm and avoid making rash decisions. Instead, stay focused on your long-term goals. This includes maintaining a diversified portfolio so no single investment overly affects your bottom line.

Though tempting, do not compare your returns to a single index or to other investors for that matter. Their goals are likely to be different than yours, as no one invests exactly the same way.

Research has shown that the most successful long-term investors remain patient during swings in the market. Your financial plan is only as good as your ability to see the eventual payoff. Staying the course could mean reaching your financial goals sooner than expected, and with a lot less stress.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: aj horch
Keywords: news, cnbc, companies, staying, remain, longterm, follow, goals, financial, investors, need, patient, strategy, lot, market, single, course


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‘Silly’ to assume that 2018’s momentum would continue: Trend Micro

‘Silly’ to assume that 2018’s momentum would continue: Trend Micro6 Hours AgoMahendra Negi of Trend Micro says it is “prudent” for the company to have “more modest” projections for 2019 because macro uncertainties remain.


‘Silly’ to assume that 2018’s momentum would continue: Trend Micro6 Hours AgoMahendra Negi of Trend Micro says it is “prudent” for the company to have “more modest” projections for 2019 because macro uncertainties remain.
‘Silly’ to assume that 2018’s momentum would continue: Trend Micro Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15
Keywords: news, cnbc, companies, continue, assume, momentum, micro, trend, modest, negi, 2018s, remain, silly, prudent, projections, uncertainties, micro6


'Silly' to assume that 2018's momentum would continue: Trend Micro

‘Silly’ to assume that 2018’s momentum would continue: Trend Micro

6 Hours Ago

Mahendra Negi of Trend Micro says it is “prudent” for the company to have “more modest” projections for 2019 because macro uncertainties remain.


Company: cnbc, Activity: cnbc, Date: 2019-02-15
Keywords: news, cnbc, companies, continue, assume, momentum, micro, trend, modest, negi, 2018s, remain, silly, prudent, projections, uncertainties, micro6


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I would not invest in Saudi Arabia, says Egyptian billionaire Naguib Sawiris

Egyptian billionaire Naguib Sawiris will not invest in Saudi Arabia as he says he does not believe there’s rule of law in the country, and has some concerns about human rights there. Asked by CNBC’s Hadley Gamble if he would invest in the kingdom, Sawiris said: “No, I would not.” The Saudi journalist, who also wrote for the Washington Post, was a prominent critic of Crown Prince Mohammed bin Salman. Emerging markets investor Mark Mobius also urged investors not to put their money in Saudi Arabia


Egyptian billionaire Naguib Sawiris will not invest in Saudi Arabia as he says he does not believe there’s rule of law in the country, and has some concerns about human rights there. Asked by CNBC’s Hadley Gamble if he would invest in the kingdom, Sawiris said: “No, I would not.” The Saudi journalist, who also wrote for the Washington Post, was a prominent critic of Crown Prince Mohammed bin Salman. Emerging markets investor Mark Mobius also urged investors not to put their money in Saudi Arabia
I would not invest in Saudi Arabia, says Egyptian billionaire Naguib Sawiris Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: weizhen tan, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, oil, crown, billionaire, invest, kingdom, egyptian, remain, sawiris, naguib, arabia, including, saudi, milken, investors


I would not invest in Saudi Arabia, says Egyptian billionaire Naguib Sawiris

Egyptian billionaire Naguib Sawiris will not invest in Saudi Arabia as he says he does not believe there’s rule of law in the country, and has some concerns about human rights there.

Asked by CNBC’s Hadley Gamble if he would invest in the kingdom, Sawiris said: “No, I would not.”

“Personally, I can invest anywhere in the world, why would I go somewhere where I am not convinced there is a rule of law and order. And that there is real democracy, and that people are free,” Sawiris said Tuesday at the MENA Summit 2019 in Abu Dhabi organized by the Milken Institute.

Saudi Arabia has been under intense scrutiny in recent months, especially after the high-profile killing of U.S.-based journalist Jamal Khashoggi, who disappeared last October after visiting the Saudi consulate in Istanbul. The Saudi journalist, who also wrote for the Washington Post, was a prominent critic of Crown Prince Mohammed bin Salman.

Turkish officials said he was killed by Saudi agents, but Riyadh denies those allegations. After more than two weeks of denying that he was kidnapped and murdered, Saudi authorities finally admitted he was killed inside the consulate.

Khashoggi’s death prompted the U.S. Treasury to impose economic sanctions on 17 Saudi officials, including the crown prince’s former top aide Saud al-Qahtani, who was fired as a result of the investigations.

“I think it goes together — political stability and economic stability, they go together. And also, you need to be somewhere you are comfortable,” Sawiris said, adding that Riyadh needs to “come straight on human rights.”

The kingdom of 33 million has seen steady drops in foreign direct investment flows over the last decade, something it needs for its ambitious Vision 2030 initiative to diversify the country’s economy and grow private sector jobs. Obstacles remain in the form of skills shortages, lower oil prices and rising unemployment in the kingdom.

There’s also been growing international concern over the unpredictability and repressive tactics of the kingdom’s powerful young crown prince.

In 2017, Crown Prince Mohammed ordered an anti-corruption drive, detaining hundreds of Saudi royals and businessmen in the Ritz Carlton hotel and confiscating large portions of their finances.

Emerging markets investor Mark Mobius also urged investors not to put their money in Saudi Arabia.

“The Khashoggi murder is a very bad situation, and as far as I’m concerned I don’t think we should be investing in Saudi Arabia for that reason unless there is some real big change,” Mobius told CNBC last week.

He also pointed to how the plummeting oil prices are “disastrous” for the country, a top oil exporter.

However, some investors, including Michael Milken, the founder of Milken Institute, remain bullish about Saudi Arabia.

Asked if the negative headlines in the kingdom would stop him from investing there, Milken said: “Not at all.”

The billionaire philanthropist pointed to “profound changes” in the kingdom in recent years, such as women being allowed to drive and the opportunity for young Saudi men and women to interact at concerts and social events today.

With Saudi Arabia’s booming youth population and its access to a massive regional market, numerous international investors — including BlackRock CEO Larry Fink and the Blackstone Group’s Stephen Schwarzman — remain committed to the kingdom and say they see significant long-term potential.

— CNBC’s Natasha Turak contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: weizhen tan, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, oil, crown, billionaire, invest, kingdom, egyptian, remain, sawiris, naguib, arabia, including, saudi, milken, investors


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Struggling Nvidia shares ‘likely to remain hamstrung,’ Bernstein says in downgrade

Bernstein downgraded semiconductor stock Nvidia on Monday to market perform from outperform, saying the company is facing severe challenges to growth and “headline risk [is] likely to continue increasing.” “Following the company’s somewhat chilly guidance cut … we believe the shares are likely to remain hamstrung,” Bernstein analyst Stacy Rasgon said in a note to investors. Ahead of earnings on Thursday, Nvidia cut its revenue guidance for the fiscal fourth quarter. Nvidia shares slid 1.9 perc


Bernstein downgraded semiconductor stock Nvidia on Monday to market perform from outperform, saying the company is facing severe challenges to growth and “headline risk [is] likely to continue increasing.” “Following the company’s somewhat chilly guidance cut … we believe the shares are likely to remain hamstrung,” Bernstein analyst Stacy Rasgon said in a note to investors. Ahead of earnings on Thursday, Nvidia cut its revenue guidance for the fiscal fourth quarter. Nvidia shares slid 1.9 perc
Struggling Nvidia shares ‘likely to remain hamstrung,’ Bernstein says in downgrade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: michael sheetz
Keywords: news, cnbc, companies, stock, remain, bernstein, hamstrung, shares, likely, downgrade, true, trading, cut, nvidia, struggling, guidance, company


Struggling Nvidia shares 'likely to remain hamstrung,' Bernstein says in downgrade

Bernstein downgraded semiconductor stock Nvidia on Monday to market perform from outperform, saying the company is facing severe challenges to growth and “headline risk [is] likely to continue increasing.”

“Following the company’s somewhat chilly guidance cut … we believe the shares are likely to remain hamstrung,” Bernstein analyst Stacy Rasgon said in a note to investors.

Ahead of earnings on Thursday, Nvidia cut its revenue guidance for the fiscal fourth quarter. The company cited “deteriorating macroeconomic conditions, particularly in China,” for the lowered forecast, which was Nvidia’s second cut in the past three months.

“The latest cut appears much more fundamentally demand-driven, with the question of the ‘true’ run-rate of the gaming business remaining up in the air for now,” Bernstein said.

Nvidia shares slid 1.9 percent in trading Monday from Friday’s close of $148.17 a share. Bernstein has a price target on Nvidia of $175 a share.

After five years of monster gains, the hot stock cracked in 2018. The shares are down more than 40 percent the last six months.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: michael sheetz
Keywords: news, cnbc, companies, stock, remain, bernstein, hamstrung, shares, likely, downgrade, true, trading, cut, nvidia, struggling, guidance, company


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Oil ticks higher as investors remain worried over global economic outlook

Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains. International Brent crude oil futures were at $62.05 per barrel, up 7 cents, after closing down 0.8 percent in the previous session. Global economic worries have weighed on market sentiment in recent days, offsetting support from signs that global supplies are tightening. However, U.S. crude stocks rose last week even as refineries boosted output, whi


Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains. International Brent crude oil futures were at $62.05 per barrel, up 7 cents, after closing down 0.8 percent in the previous session. Global economic worries have weighed on market sentiment in recent days, offsetting support from signs that global supplies are tightening. However, U.S. crude stocks rose last week even as refineries boosted output, whi
Oil ticks higher as investors remain worried over global economic outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: essam al-sudani
Keywords: news, cnbc, companies, economic, stocks, crude, outlook, ticks, barrels, oil, remain, prices, week, worried, million, higher, global, investors, market, rose


Oil ticks higher as investors remain worried over global economic outlook

Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains.

U.S. West Texas Intermediate (WTI) crude futures were at $53.74 per barrel at 0153 GMT, up 8 cents from their last settlement. They closed down 1.7 percent on Tuesday.

International Brent crude oil futures were at $62.05 per barrel, up 7 cents, after closing down 0.8 percent in the previous session.

Global economic worries have weighed on market sentiment in recent days, offsetting support from signs that global supplies are tightening.

With a nervous market, traders are focused on the U.S. State of the Union address by President Donald Trump.

“Anything out of the State of the Union that hints at the U.S.-China deal not working out, or more anti-trade rhetoric would be a negative for energy prices as demand would be lower if global growth keeps being downgraded,” said Alfonso Esparza senior market analyst, OANDA.

U.S. sanctions on Venezuela have been viewed as supportive for prices by helping tighten global supplies. A flotilla loaded with Venezuelan oil has formed in the Gulf of Mexico, some holding cargoes bought ahead of the latest U.S. sanctions on Venezuela and others whose buyers are weighing who to pay.

The Organization of the Petroleum Exporting Countries and its allies, including Russia, agreed to production cuts effective from last month to beat back supply growth.

However, U.S. crude stocks rose last week even as refineries boosted output, while gasoline and distillate stocks increased, data from industry group the American Petroleum Institute showed on Tuesday.

Crude inventories rose by 2.5 million barrels in the week ended Feb. 1 to 448.2 million, compared with analysts’ expectations for an increase of 2.2 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 889,000 barrels, API said.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: essam al-sudani
Keywords: news, cnbc, companies, economic, stocks, crude, outlook, ticks, barrels, oil, remain, prices, week, worried, million, higher, global, investors, market, rose


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