Month: March 2019

For the last two years, Scott Gottlieb missed a lot of time with his wife and three daughters — back-to-school nights, school plays and parent-teacher conferences. He loved his job running the Food and Drug Administration, but hated leaving his wife Allyson, nine-year-old twins and five-year-old in Connecticut every Sunday to head to Washington, DC.
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Facebook CEO Mark Zuckerberg backed stronger government regulation of the Internet on Saturday, but it may be too little too late for a company that remains mired in controversy and subject to investigations around the world. It’s been over a year since the public learned that a U.K.-based political consulting firm called Cambridge Analytica exploited
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The terms “wealth management” and “viral sensation” are rarely used in the same sentence. Andy Rachleff, co-founder of the robo-advisor Wealthfront, is betting his retirement years he can change that. After a career spent investing in Silicon Valley start-ups, Rachleff is looking to take robo-advising the way of household tech names like Netflix. He and
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Check out the companies making headlines midday Friday: Celgene — Shares of Celgene rose 6.58 percent after proxy advisors Institutional Shareholder Services and Glass Lewis recommended that Bristol-Myers Squibb shareholders vote in favor of its bid to buy Celgene. The recommendations come weeks before shareholders vote on the $74 billion buyout of the biotechnology company.
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Activist investor Starboard Value has ended its fight against Bristol-Myers Squibb’s buyout of biotechnology company Celgene after two prominent proxy advisors announced their support for the deal earlier on Friday. The withdrawal comes hours after both Institutional Shareholder Services and Glass Lewis recommended Bristol-Myers shareholders vote in favor of its bid. “Despite the substantial swell
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Federal Reserve Governor Randal Quarles voiced confidence in the U.S. economy in a speech Friday and said more interest rate hikes likely will be appropriate, countering the prevailing market wisdom. Speaking to economists in New York, Quarles, who is the central bank’s vice chair for supervision, said the labor market looks strong and productivity is
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Shares RH, the company formerly known as Restoration Hardware, plunged nearly 19 percent Friday morning after it cut its 2019 forecast, suggesting that the company’s new strategy will take longer to pay off than originally expected. Late Thursday, RH posted its fiscal fourth-quarter results, which were mixed as revenue fell short of expectations. The high-end
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The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Knight-Swift Transportation Phil Camporeale was a buyer of the S&P 500 ETF Dan Nathan was a seller of Micron Guy Adami was a buyer of Dollar General Trader disclosure: On March 28, 2019 the following stocks and
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Last week, Starbucks announced changes coming to its North American loyalty program in an effort to attract new members. But Bernstein said in a note published Friday that the adjustments could anger existing Starbucks Rewards members. The Seattle-based company has been experiencing slowing foot traffic at North American stores as the coffee market grows more
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Tim Sloan resigned, following the market closed, as chief of the scandal-plagued Wells Fargo even though he delivered a quarter that exceeded expectations, CNBC’s Jim Cramer said Thursday. After a 31-year career with the bank, Sloan said he felt like he had become a distraction at the company because of the “endless harangues from Washington
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