Charles Schwab is in talks to buy TD Ameritrade, a source told CNBC’s Becky Quick on Thursday. A deal could be announced as early as Thursday. Shares of TD Ameritrade soared 20% in premarket trading on the report. Schwab’s shares rose 5%. A deal between Schwab and TD Ameritrade would consolidate an industry going through … Read more
A digital bank that raised $110 million from venture capital funds and celebrities including Leonardo DiCaprio is scrambling to find funding, a potential sign that investors are cooling on risky start-ups after the WeWork debacle. At first blush, Aspiration has all the trappings of a successful disruptor. Part of a new breed of online-only banks, … Read more
Lowe’s on Wednesday reported quarterly earnings that beat analysts’ expectations and raised its forecast for the year, but revenue fell short of projections. The home improvement retailer also announced that it has restructured its Canadian leadership and plans to close 34 stores in Canada in the fourth quarter. Shares of Lowe’s were up more than … Read more
Target earnings and sales trounced analysts’ estimates, marking a bright spot in retail after weak reports from department store chains J.C. Penney and Kohl’s. The big-box retailer also raised its profit outlook for the full year, ahead of the all-important holiday shopping season. Its shares surged more than 8.5% in premarket trading on the news. … Read more
Home Depot shares slid Tuesday after the company once again cut its 2019 forecast and reported same-store sales well below estimates. The company said revenue, which also missed analysts’ targets, was hurt by investments it is making in its business. Earnings came in a penny better than expected. — RECOMMENDED — Ron Paul Crypto Briefing … Read more
Stocks bounced on trade headlines on Friday, but the market could stall out in the week ahead if there is no real progress toward a deal. Stocks ended the week at record highs, but Treasury yields unwound half the big move of the prior week, as doubts surfaced about a trade pact getting completed. The … Read more
Shares of RH surged more than 7% in premarket trading Friday, a day after Warren Buffett’s Berkshire Hathaway revealed it owned 1.2 million shares of the furniture retailer at the end of the third quarter. Berkshire announced the stake in a filing with the Securities and Exchange Commission. — RECOMMENDED — THE WINNING STRATEGY THAT WALL … Read more
A strong grocery business helped Walmart’s online sales grow 41% in the third quarter, the company said on Thursday, fueling an earnings beat. Total sales in the latest period fell short of analysts’ expectations. But Walmart raised its annual earnings outlook ahead of the holiday season. Its shares jumped more than 3.5% in premarket trading … Read more
Google will offer checking accounts next year, according to a source familiar with the company’s plans, representing big tech’s boldest move yet into the consumer banking business as most have focused on credit cards and payment platforms. The accounts for the project will be run by Citigroup and the Stanford Federal Credit Union. The Wall Street Journal was first … Read more
Uber announced earnings Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019. But the stock fell as much about 5% after the company reported over $1 billion in net losses. Here are the key numbers: Loss per share: 68 cents vs.81 cents expected, according to Refinitiv estimates … Read more