Wall Street’s biggest Apple bull: China sales are ‘fuel in the engine’

Ives initiated coverage of Apple with an outperform rating and a 12-month price target of $310, higher than any other analyst on Wall Street. China, the world’s largest smartphone market, is the “fuel in the engine” for Apple, Ives said. The biggest question is whether consumers can “start to digest that higher price point” of Apple products, Ives said. “It’s really just executing on China, executing on the iPhone strategy,” that will propel Apple’s growth going forward, Ives said. Shares of App


Ives initiated coverage of Apple with an outperform rating and a 12-month price target of $310, higher than any other analyst on Wall Street. China, the world’s largest smartphone market, is the “fuel in the engine” for Apple, Ives said. The biggest question is whether consumers can “start to digest that higher price point” of Apple products, Ives said. “It’s really just executing on China, executing on the iPhone strategy,” that will propel Apple’s growth going forward, Ives said. Shares of App
Wall Street’s biggest Apple bull: China sales are ‘fuel in the engine’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: carmin chappell
Keywords: news, cnbc, companies, china, apple, services, engine, apples, sales, streets, wall, bull, ives, strategy, month, biggest, xs, higher, fuel, target, price


Wall Street's biggest Apple bull: China sales are 'fuel in the engine'

Strong Chinese demand and a growing services business are critical on Apple’s “yellow brick road” to a $1.5 trillion market cap, which Wedbush Securities analyst Dan Ives said is more than possible.

Ives initiated coverage of Apple with an outperform rating and a 12-month price target of $310, higher than any other analyst on Wall Street. His target is 40 percent higher than Apple’s closing price on Thursday.

Services are the “linchpin” to the company’s growth, Ives said in an interview with CNBC’s “Power Lunch” on Friday. He predicts that the services business could reach $50 billion in annual revenue “in the next year and a half.”

China, the world’s largest smartphone market, is the “fuel in the engine” for Apple, Ives said.

Ives acknowledges that growing trade tensions between China and the U.S. could pose a threat to Apple, but he said the company is “ahead of the curve” with its manufacturing strategy. The Apple Watch and AirPods earphones were exempted last month from a new round of Chinese import tariffs imposed by President Donald Trump.

The biggest question is whether consumers can “start to digest that higher price point” of Apple products, Ives said. The iPhone XS and XS Max models, launched this month, are the most expensive iPhones to date.

“It’s really just executing on China, executing on the iPhone strategy,” that will propel Apple’s growth going forward, Ives said.

Shares of Apple rose 1.3 percent Friday following the release of Ives’ note to clients in which he announced his $310 price target. The stock is up 29 percent year to date.


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: carmin chappell
Keywords: news, cnbc, companies, china, apple, services, engine, apples, sales, streets, wall, bull, ives, strategy, month, biggest, xs, higher, fuel, target, price


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How to avoid the nightmare of bad financial advice

Prosecutors say she used voodoo in an otherworldly attempt to escape justice. Founder and CEO of Bennett Group Financial Services (now a defunct firm) and the host of weekly radio program “Financial Myth Busting with Dawn Bennett,” Bennett reportedly used investor money to pay Hindu priests in India for ceremonies to ward off investigators looking into her business practices. Unfortunately, otherwise intelligent, even savvy, investors often fall victim to financial scammers, said certified finan


Prosecutors say she used voodoo in an otherworldly attempt to escape justice. Founder and CEO of Bennett Group Financial Services (now a defunct firm) and the host of weekly radio program “Financial Myth Busting with Dawn Bennett,” Bennett reportedly used investor money to pay Hindu priests in India for ceremonies to ward off investigators looking into her business practices. Unfortunately, otherwise intelligent, even savvy, investors often fall victim to financial scammers, said certified finan
How to avoid the nightmare of bad financial advice Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kenneth kiesnoski, shago dela cruz, eyeem, getty images, sam edwards, af_istocker, istock, john lund marc romanelli, blend images, source
Keywords: news, cnbc, companies, services, wealth, voodoo, avoid, radio, return, say, nightmare, bennett, advisor, advice, financial, used, bad


How to avoid the nightmare of bad financial advice

We’ve all heard of voodoo economics, but voodoo investing?

Noted Washington, D.C.-area radio personality and former financial advisor Dawn Bennett was convicted earlier this week of fraud, found to have bilked 46 listeners, advisory clients and friends who trusted her out of some $20 million in a Ponzi scheme. Prosecutors say she used voodoo in an otherworldly attempt to escape justice.

Founder and CEO of Bennett Group Financial Services (now a defunct firm) and the host of weekly radio program “Financial Myth Busting with Dawn Bennett,” Bennett reportedly used investor money to pay Hindu priests in India for ceremonies to ward off investigators looking into her business practices. Stranger still, she wove voodoo spells around jars of beef tongue, labeled with Securities and Exchange Commission lawyers’ names, that she stored in a freezer at home in hopes of keeping the feds quiet — apparently to no avail.

Bennett, 56, had promised a 15 percent return on investments in her new luxury sportswear company but actually used the money to fund an extravagant lifestyle, say government investigators. If it sounded too good to be true, that’s because it was.

Unfortunately, otherwise intelligent, even savvy, investors often fall victim to financial scammers, said certified financial planner Douglas Boneparth, founder and president of Bone Fide Wealth in New York. Just look at the unfortunate, and often well-heeled, clientele of convicted fraudster Bernard Madoff.

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“People, fundamentally, are willing to throw out the window principal disciplines in investing — diversification, risk and return … that you have to abide by to keep yourself out of trouble,” he said. “People are constantly … kicking them to the curb over the allure of attractive returns.”

Granted, the Bennett case is an extreme example, in terms of both the returns promised and the lengths gone to cover up misdeeds. But financial advice and investment management, like any industry, is prone to more mundane types of professional mischief, and even if you’re not chasing pipe-dream profits, you can still be victimized.

“There are bad actors throughout any industry … and they’re going to unfortunately leverage their relationships with people and take advantage,” said Barry Glassman, CFP and founder and president of Glassman Wealth Services. “What you want to avoid are the easier, obvious ones. You want to enter with caution.”

So how is a prospective client to proceed when vetting a potential financial advisor? How to ensure your advisor is on the up and up — but not way out there?


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: kenneth kiesnoski, shago dela cruz, eyeem, getty images, sam edwards, af_istocker, istock, john lund marc romanelli, blend images, source
Keywords: news, cnbc, companies, services, wealth, voodoo, avoid, radio, return, say, nightmare, bennett, advisor, advice, financial, used, bad


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How Turkey gains from the grisly drama over the killing of journalist Jamal Khashoggi

ISTANBUL – When Turkish investigators entered the alleged murder scene inside the Saudi consulate, they were met by the tell-tale aroma of industrial-strength cleanser and fresh paint. The notion that Saudi journalist Jamal Khashoggi had himself relayed to the world via his Apple Watch evidence of his own torture, killing and dismemberment was quickly replaced by a more compelling story line. Turkish intelligence services – through embedded devices that had evaded detection – had captured audio


ISTANBUL – When Turkish investigators entered the alleged murder scene inside the Saudi consulate, they were met by the tell-tale aroma of industrial-strength cleanser and fresh paint. The notion that Saudi journalist Jamal Khashoggi had himself relayed to the world via his Apple Watch evidence of his own torture, killing and dismemberment was quickly replaced by a more compelling story line. Turkish intelligence services – through embedded devices that had evaded detection – had captured audio
How Turkey gains from the grisly drama over the killing of journalist Jamal Khashoggi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: fred kempe, kayhan ozer, anadolu agency, getty images
Keywords: news, cnbc, companies, drama, services, khashoggi, turkish, saudi, murder, weeks, turkey, grisly, trump, senior, killing, president, journalist, world, gains, jamal


How Turkey gains from the grisly drama over the killing of journalist Jamal Khashoggi

ISTANBUL – When Turkish investigators entered the alleged murder scene inside the Saudi consulate, they were met by the tell-tale aroma of industrial-strength cleanser and fresh paint. However, they were not surprised, having been alerted by Turkish security services that the Saudis had sent an expert team inside to conceal as best as possible their likely crime of two weeks earlier.

The notion that Saudi journalist Jamal Khashoggi had himself relayed to the world via his Apple Watch evidence of his own torture, killing and dismemberment was quickly replaced by a more compelling story line.

Turkish intelligence services – through embedded devices that had evaded detection – had captured audio and, one well-informed source insists, also video files of the Khashoggi killing. Even more significant, Turkish President Recep Tayyip Erdogan was deciding personally, through close advisers, what details to release to the world and at what moment.

The most dramatic fruit of President Erdogan’s efforts came late Friday, when the Saudi government said it had fired five senior officials and arrested 18 other Saudis as a result of the investigation that the Turkish leader forced to happen. It was a dramatic turnabout from initial Saudi insistence that Khashoggi had left the consulate unharmed, while still protecting Crown Prince Mohammed bin Salman through the narrative of a fistfight gone wrong.

Most damning was news that those fired included Saud al-Quahtani, the crown prince’s ever-present adviser, who was reported to be at the scene, and deputy intelligence chief Maj. Gen Ahmed al-Assiri. President Donald Trump called the Saudi moves “a good start,” leaving the world to wonder what might be the next Saudi shoes to drop in a story more gripping than the best fiction.

This once-Ottoman and now-Turkish capital has been the setting for some of history’s richest plots, from Eric Ambler’s Constantinople to Agatha Christie’s Istanbul. Yet what has unfolded in real time over nearly three weeks, let’s call it “Murder on the Bosporus,” is far more gruesome in its details and endlessly richer in its geopolitical complexity than any novelist’s best-spun scheme.

It is equal parts murder mystery and geopolitical thriller, with historic stakes that could shake an Arab monarchy, shape regional security, influence global Islam and even impact crucial midterm elections in the United States, the world’s most powerful democracy. A senior Trump administration official calls the situation “the biggest foreign policy challenge we’ve faced.” A Mideast ally sums it up in more graphic terms as “a freaking mess.”


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: fred kempe, kayhan ozer, anadolu agency, getty images
Keywords: news, cnbc, companies, drama, services, khashoggi, turkish, saudi, murder, weeks, turkey, grisly, trump, senior, killing, president, journalist, world, gains, jamal


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1 in 4 Venmo users’ actions on the app can be monetized, PayPal CFO says

A quarter of Venmo users are currently using PayPal’s millennial-friendly payments app in a way that the financial technology company can monetize, PayPal Chief Financial Officer John Rainey told CNBC on Friday. “If we look at the most recent quarter, roughly one in four Venmo customers are using Venmo in a way today that we’re able to monetize,” Rainey said in an exclusive interview with “Mad Money” host Jim Cramer. “That could be with using Venmo to shop online, it could be using our physical


A quarter of Venmo users are currently using PayPal’s millennial-friendly payments app in a way that the financial technology company can monetize, PayPal Chief Financial Officer John Rainey told CNBC on Friday. “If we look at the most recent quarter, roughly one in four Venmo customers are using Venmo in a way today that we’re able to monetize,” Rainey said in an exclusive interview with “Mad Money” host Jim Cramer. “That could be with using Venmo to shop online, it could be using our physical
1 in 4 Venmo users’ actions on the app can be monetized, PayPal CFO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, paypals, actions, services, quarter, paypal, monetized, app, venmo, users, financial, told, using, roughly, cfo, rainey


1 in 4 Venmo users' actions on the app can be monetized, PayPal CFO says

A quarter of Venmo users are currently using PayPal’s millennial-friendly payments app in a way that the financial technology company can monetize, PayPal Chief Financial Officer John Rainey told CNBC on Friday.

“If we look at the most recent quarter, roughly one in four Venmo customers are using Venmo in a way today that we’re able to monetize,” Rainey said in an exclusive interview with “Mad Money” host Jim Cramer.

“That could be with using Venmo to shop online, it could be using our physical card in a store, or it could be using the instant cash withdrawal so they can transfer funds immediately into their bank account,” the CFO continued.

Speaking after PayPal’s strong earnings report sent shares of the payments giant up more than 9 percent in Friday’s trading session, Rainey reiterated CEO Dan Schulman’s comments about Venmo reaching a “tipping point.”

“It’s a bit of an inflection point for us,” Rainey told Cramer, whose charitable trust owns shares of PayPal. “We saw growth … of almost 80 percent in terms of total volume for Venmo in the quarter. That’s the second quarter in a row that we’ve grown at that rate, and so we’re just really excited about what we’re seeing with this part of our platform.”

While Venmo was a key driver for PayPal this quarter, it wasn’t the company’s only win: the fintech player added 9.1 million net new active users to its platform, an all-time record, announced an expanded partnership with American Express and struck a new agreement with Walmart to offer deposit and withdrawal services at its stores.

Rainey said the partnerships would be instrumental to drawing even more customers to PayPal’s increasingly “relevant” platform, which now boasts over a quarter of a billion users.

Moreover, PayPal is still focused on the roughly two billion people around the world who don’t have access to financial services that many people “take for granted,” like banking or checking accounts, he said.

“Financial inclusion is part of our mission,” he told Cramer. “The key element of those two billion people is that roughly 70 percent of them have a mobile device. And this is where our value proposition really shines, where we can put all of the power of mobile commerce in the palm of their hand.”

That, paired with the almost “viral” popularity of the Venmo app, sets PayPal apart from traditional financial services companies or even newer fintech competitors, Rainey said.

“There are very few companies, Jim, that I would put into the same category as us,” the CFO said. “We’re a high-growth company, but we also generate a tremendous amount of free cash flow for a growth company like ours.”


Company: cnbc, Activity: cnbc, Date: 2018-10-19  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, paypals, actions, services, quarter, paypal, monetized, app, venmo, users, financial, told, using, roughly, cfo, rainey


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London and Singapore named the top destinations for cash flowing into financial services

London’s market continued to boom amid political tension, with financial services exports totalling £68 billion in 2017 — more than New York and Singapore combined. “The U.K. leads the world when it comes to exporting financial services and we have a number of strengths that appeal to investors,” she said in a press release Wednesday. Foreign investment flows can shift quickly so it is vital that we secure a positive Brexit deal that provides confidence and clarity for the sector. John Glen, eco


London’s market continued to boom amid political tension, with financial services exports totalling £68 billion in 2017 — more than New York and Singapore combined. “The U.K. leads the world when it comes to exporting financial services and we have a number of strengths that appeal to investors,” she said in a press release Wednesday. Foreign investment flows can shift quickly so it is vital that we secure a positive Brexit deal that provides confidence and clarity for the sector. John Glen, eco
London and Singapore named the top destinations for cash flowing into financial services Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: chloe taylor, martin keene pa images via getty images
Keywords: news, cnbc, companies, foreign, flowing, cash, uks, services, named, singapore, sector, financial, uk, projects, investment, destinations, maintain, london


London and Singapore named the top destinations for cash flowing into financial services

London’s market continued to boom amid political tension, with financial services exports totalling £68 billion in 2017 — more than New York and Singapore combined.

Catherine McGuinness, policy chairman of the City of London Corporation, said the U.K.’s financial services district was a “magnet” for foreign investors, helping to generate major capital projects — long-term projects that help companies build or maintain assets such as facilities and equipment.

“The U.K. leads the world when it comes to exporting financial services and we have a number of strengths that appeal to investors,” she said in a press release Wednesday.

“We cannot, however, afford to take this position for granted. Foreign investment flows can shift quickly so it is vital that we secure a positive Brexit deal that provides confidence and clarity for the sector. This will help to attract investment in the future of London and the U.K.”

In June, the U.K.’s Department for International Trade published figures showing that foreign investment into the wider U.K. economy fell by 9 percent between 2016/17 and 2017/18.

New investments were down by 5 percent, with mergers and acquisitions falling by 13 percent. The biggest overseas investor into the U.K. was the U.S., according to the department’s report.

John Glen, economic secretary to the U.K. Treasury, told CNBC via email that he was not concerned about Brexit’s impact on London’s financial services district.

“The U.K. is and will remain the preeminent center for global finance, long after we leave the EU,” he said. “So the fact that our financial services sector is securing more foreign investment than its global competitors comes as no surprise, and will be welcomed by the 1 million people working in the industry across the country.”

“But of course our status is not taken for granted — we continue to do everything we can to maintain and enhance our world-leading position.”

The City of London Corporation selected the world’s top nine financial services destinations for its study.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: chloe taylor, martin keene pa images via getty images
Keywords: news, cnbc, companies, foreign, flowing, cash, uks, services, named, singapore, sector, financial, uk, projects, investment, destinations, maintain, london


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American Express shares rise after third-quarter earnings top Street on record revenue

American Express beat Wall Street’s expectations for third quarter earnings, saying Thursday it had earnings per share of $1.88 on strong gains in spending by consumers and small businesses. Shares of American Express rose 0.5 percent in aftermarket trading. Net income in global consumer services rose 15 percent, to $779 million. American Express reported the day after notes from the recent Federal Open Market Committee Meeting indicate the Fed is likely to continue raising interest rates. Also


American Express beat Wall Street’s expectations for third quarter earnings, saying Thursday it had earnings per share of $1.88 on strong gains in spending by consumers and small businesses. Shares of American Express rose 0.5 percent in aftermarket trading. Net income in global consumer services rose 15 percent, to $779 million. American Express reported the day after notes from the recent Federal Open Market Committee Meeting indicate the Fed is likely to continue raising interest rates. Also
American Express shares rise after third-quarter earnings top Street on record revenue Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: liz moyer, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, street, earnings, rose, rise, express, revenue, record, share, thirdquarter, american, payments, rates, services, shares


American Express shares rise after third-quarter earnings top Street on record revenue

American Express beat Wall Street’s expectations for third quarter earnings, saying Thursday it had earnings per share of $1.88 on strong gains in spending by consumers and small businesses.

Wall Street had expected EPS of $1.77, as forecast by Refinitiv. Revenue was a record $10.1 billion, beating the expectation of $10.05 billion.

Profit of $1.6 billion rose 22 percent. The shares added 1.7 percent in after hours trading Thursday.

The company said it expects full-year revenue to be up 9 percent to 10 percent and it raised its forecast 2018 earnings per share to a range of $7.30 to $7.40 from $6.90 to $7.30. Shares of American Express rose 0.5 percent in aftermarket trading.

Net income in global consumer services rose 15 percent, to $779 million. In commercial services, net income rose 20 percent, to $606 million.

American Express reported the day after notes from the recent Federal Open Market Committee Meeting indicate the Fed is likely to continue raising interest rates. Higher rates should benefit companies like Amex by boosting revenue and profit.

Also on Thursday, American Express announced an agreement with mobile payments app firms PayPal and Venmo to enable cardholders to send payments and pay their Amex bills.


Company: cnbc, Activity: cnbc, Date: 2018-10-18  Authors: liz moyer, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, street, earnings, rose, rise, express, revenue, record, share, thirdquarter, american, payments, rates, services, shares


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Google’s YouTube suffers a major outage

Earlier, when users tried to access YouTube.com, they were greeted with a blank page that showed no videos. YouTube acknowledged the outage on Twitter and said it was working to fix the problem. A Google spokesperson pointed CNBC to the tweets and added the company had nothing else to share at the moment. It is unusual for Google services to experience downtime but YouTube has experienced some problems in the past. During the 2018 FIFA World Cup, YouTube TV — a paid livestreaming service — went


Earlier, when users tried to access YouTube.com, they were greeted with a blank page that showed no videos. YouTube acknowledged the outage on Twitter and said it was working to fix the problem. A Google spokesperson pointed CNBC to the tweets and added the company had nothing else to share at the moment. It is unusual for Google services to experience downtime but YouTube has experienced some problems in the past. During the 2018 FIFA World Cup, YouTube TV — a paid livestreaming service — went
Google’s YouTube suffers a major outage Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, showed, googles, world, working, google, youtubecom, outage, youtube, users, major, western, services, suffers, company


Google's YouTube suffers a major outage

Earlier, when users tried to access YouTube.com, they were greeted with a blank page that showed no videos. On the app, an error message read, “There was a problem with the network [503].”

A map on DownDetector, which tracks status information and outages for various types of services in real time, showed that users in the United States, Brazil, Japan, parts of Australia, Southeast Asia and Western Europe were affected.

YouTube acknowledged the outage on Twitter and said it was working to fix the problem.

More than an hour later, the company tweeted that they were back in business.

A Google spokesperson pointed CNBC to the tweets and added the company had nothing else to share at the moment.

It is unusual for Google services to experience downtime but YouTube has experienced some problems in the past. During the 2018 FIFA World Cup, YouTube TV — a paid livestreaming service — went down briefly during the match between Croatia and England.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, showed, googles, world, working, google, youtubecom, outage, youtube, users, major, western, services, suffers, company


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IBM falls after revenue misses

Here’s how the company performed:Earnings : $3.42 per share, excluding certain items, vs. $3.40 per share as expected by analysts, according to Refinitiv. Revenue: $18.76 billion, vs. $19.10 billion as expected by analysts, according to Refinitiv. The company sustained five years of revenue declines before reversing the trend by showing revenue growth for three consecutive quarters. The Cognitive Solutions business segment produced $4.1 billion in revenue, down 6 percent and below the $4.3 billi


Here’s how the company performed:Earnings : $3.42 per share, excluding certain items, vs. $3.40 per share as expected by analysts, according to Refinitiv. Revenue: $18.76 billion, vs. $19.10 billion as expected by analysts, according to Refinitiv. The company sustained five years of revenue declines before reversing the trend by showing revenue growth for three consecutive quarters. The Cognitive Solutions business segment produced $4.1 billion in revenue, down 6 percent and below the $4.3 billi
IBM falls after revenue misses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: jordan novet, jodi gralnick
Keywords: news, cnbc, companies, vs, billion, misses, business, analysts, ibm, services, share, according, falls, company, revenue, expected


IBM falls after revenue misses

IBM stock fell as much as 5 percent on Tuesday after the company reported mixed earnings for its fiscal third quarter.

Here’s how the company performed:

Earnings : $3.42 per share, excluding certain items, vs. $3.40 per share as expected by analysts, according to Refinitiv.

: $3.42 per share, excluding certain items, vs. $3.40 per share as expected by analysts, according to Refinitiv. Revenue: $18.76 billion, vs. $19.10 billion as expected by analysts, according to Refinitiv.

The company’s overall revenue came in 2 percent lower year over year, according to a statement.

Analysts were expecting IBM’s revenue to drop for the quarter, which ended on Sept. 30. The company sustained five years of revenue declines before reversing the trend by showing revenue growth for three consecutive quarters.

IBM’s biggest business segment, Technology Services and Cloud Platforms, hit $8.3 billion in revenue, which was down 2 percent year over year. Analysts had expected $8.43 billion in revenue from the group, according to FactSet.

The Cognitive Solutions business segment produced $4.1 billion in revenue, down 6 percent and below the $4.3 billion estimate, while Global Business Services delivered revenue of $4.1 billion, up 1 percent and above the $4.06 billion FactSet estimate.

IBM’s Systems business had $1.7 billion in revenue, up 1 percent and below the $1.79 billion estimate.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: jordan novet, jodi gralnick
Keywords: news, cnbc, companies, vs, billion, misses, business, analysts, ibm, services, share, according, falls, company, revenue, expected


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Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax

These are goods like travel services or maintenance supplies. One of those items, is floor wax for stores, which the world’s largest retailer recently changed. “That one change in floor wax will save us over $20 million a year.” Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.


These are goods like travel services or maintenance supplies. One of those items, is floor wax for stores, which the world’s largest retailer recently changed. “That one change in floor wax will save us over $20 million a year.” Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.
Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: courtney reagan, jeffrey greenberg, uig, getty images
Keywords: news, cnbc, companies, stores, changing, 20, bulbs, million, walmart, saves, services, everyday, low, save, cost, goods, floor, light, wax, 200


Walmart saves $200 million by changing its light bulbs and $20 million with a new floor wax

Walmart will be able to mitigate a lot of the tariff issue, says former Walmart US CEO 10 Hours Ago | 03:44

In the U.S. alone, Walmart buys tens of billions of dollars’ worth of goods and services used for the business that aren’t sold in its stores, a category called “goods not for resale.” These are goods like travel services or maintenance supplies.

One of those items, is floor wax for stores, which the world’s largest retailer recently changed.

“Not only is the new wax cheaper, it’s also sturdier. It doesn’t need to be buffed as often, resulting in less spent on the actual buffing, as well as fuel for the machines,” Biggs said. “That one change in floor wax will save us over $20 million a year.”

It’s savings on a major scale.

Walmart’s founding principle is “everyday low price,4” which can only be achieved by everyday low cost. The more Walmart saves on the cost side, the more shoppers save at checkout.

Earlier Tuesday, Walmart cut its earnings outlook. As expected, profits were hurt due to the impact of its acquisition of Indian e-commerce company Flipkart.

WATCH: Walmart lowers forecast to reflect Flipkart deal


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: courtney reagan, jeffrey greenberg, uig, getty images
Keywords: news, cnbc, companies, stores, changing, 20, bulbs, million, walmart, saves, services, everyday, low, save, cost, goods, floor, light, wax, 200


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Not everyone is ready to ride as autonomous vehicles take to the road in ever-increasing numbers

Pennsylvania regulators this week gave the nod to Aurora, an autonomous vehicle software company, to begin testing its prototypes on state roads, joining a growing list of states, from Alabama to Washington and, of course, California, that have approved public testing. “Our country is on the verge of one of the most exciting innovations in transportation,” said Department of Transportation Secretary Elaine Chao last month, speaking from Mcity, an autonomous vehicle test center operated by the Un


Pennsylvania regulators this week gave the nod to Aurora, an autonomous vehicle software company, to begin testing its prototypes on state roads, joining a growing list of states, from Alabama to Washington and, of course, California, that have approved public testing. “Our country is on the verge of one of the most exciting innovations in transportation,” said Department of Transportation Secretary Elaine Chao last month, speaking from Mcity, an autonomous vehicle test center operated by the Un
Not everyone is ready to ride as autonomous vehicles take to the road in ever-increasing numbers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-14  Authors: paul a eisenstein, source, general motors
Keywords: news, cnbc, companies, transportation, ready, road, autonomous, week, everincreasing, numbers, thousands, selfdriving, version, vehicle, ride, waymo, services, vehicles


Not everyone is ready to ride as autonomous vehicles take to the road in ever-increasing numbers

Pennsylvania regulators this week gave the nod to Aurora, an autonomous vehicle software company, to begin testing its prototypes on state roads, joining a growing list of states, from Alabama to Washington and, of course, California, that have approved public testing.

Hundreds of self-driving vehicles are now plying U.S. roadways, and the numbers could climb into the thousands, perhaps even the hundreds of thousands, now that the U.S. Department of Transportation has updated guidelines, easing federal oversight in a bid to encourage automakers and tech companies like Aurora and Alphabet’s Waymo to speed up development.

“Our country is on the verge of one of the most exciting innovations in transportation,” said Department of Transportation Secretary Elaine Chao last month, speaking from Mcity, an autonomous vehicle test center operated by the University of Michigan.

Just a week earlier, the House of Representatives, in a rare moment of bipartisanship, passed its version of the SELF DRIVE Act, which could result in as many as 100,000 self-driving cars taking to the road by 2021 or 2022, depending on how soon the Senate moves on its version of the bill.

By then, several automakers, include Tesla, Nissan and General Motors, as well as Waymo, already hope to be either selling self-driving vehicles or at least using them in commercial ride-sharing services. Those services will need to find people willing to go along for the ride. And that may prove more difficult than the industry might hope — a potentially serious problem considering that, by various estimates, spending on autonomous technology will run as high as $100 billion over the coming decade.

Waymo has been running a pilot program in the Phoenix area and earlier this year won approval from the state to turn it into a commercial venture. It has contracted with Jaguar and Fiat Chrysler to purchase as many as 60,000 vehicles over the coming years, with a goal of expanding the service to a number of other, as yet-unidentified U.S. cities.

General Motors is planning to put a self-driving version of its Chevrolet Bolt EV into fleet testing in 2019. For those who prefer something a little more exotic, French automaker Renault revealed a driverless concept, dubbed EZ-Ultimo, at the Paris Motor Show last week. Measuring 224 inches nose-to-tail, or only slightly smaller than a conventional Mercedes-Maybach Pullman limousine, Ultimo is designed to be a “rolling palace,” said Renault, where passengers sit in a circle and enjoy the amenities of a lounge on wheels.

A study released at the beginning of the year by the Boston Consulting Group estimated that by the end of the next decade, fully 20 to 25 percent of the miles that Americans travel by car will be logged by fully driverless vehicles operated by ride-sharing services such as Waymo, Uber, Lyft and GM’s Maven.


Company: cnbc, Activity: cnbc, Date: 2018-10-14  Authors: paul a eisenstein, source, general motors
Keywords: news, cnbc, companies, transportation, ready, road, autonomous, week, everincreasing, numbers, thousands, selfdriving, version, vehicle, ride, waymo, services, vehicles


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