Jeff Springer

Jeff Springer

Jeff Spring is the Finance & Markets Editor at BusinessPundit.com. He's currently spending his days backpacking across Europe. While he may be living outside of the United States, he stays connected to American financial markets and M&A's more than is probably healthy for any single person. His love of a good book and a Bloomberg terminal can't be understated. He can be reached at JeffSpringer@BusinessPundit.com

  • Salaried workers to get overtime

    Obama administration brings overtime pay to 4.2 million Americans

    The Obama administration is issuing new rules that extend overtime pay to 4.2 million US workers. The new regulation affects full-time salaried employees that make up to $47,476 a year. That more than doubles the current salary range at which companies can deny overtime. The biggest impact is expected to affect retail and restaurant industries […]

  • Delta Airlines to cut back on expensesDelta Airlines to cut back on expenses

    Delta will raise prices if oil continues to rebound

    Delta Air Lines is trimming expenses as oil prices continue to rise. The company plans to cut back on new plane purchases and will ax plans to add new flights in the second half of 2016. Those changes are likely to cause a rise in price for travelers. The airline said it is trimming its […]

  • Monsanto

    Monsanto stock is going crazy on news of a huge takeover bid

    Chemical and pharmaceutical giant Bayer AG might be making a move to acquire agrochemical company Monsanto, Bloomberg’s Aaron Kirchfeld, Ruth David, and Dinesh Nair report. If an acquisition is on the horizon the companies would combine to create the largest farm-chemicals- and seeds-supplier in the world, according to the report. Monsanto’s stock surged by as […]

  • Lumber Liquidators tanking shares

    Lumber Liquidators is tanking again

    Lumber Liquidators fell by as much as 15% in early trading after the company reported a wider-than-expected first-quarter loss. At 9:30am shares in the company are down about 13%. The laminate-flooring retailer’s sales fell for the fourth straight quarter. The company has been in trouble since March. “60 Minutes” aired an episode that alleged it […]

  • drone business explodes

    PwC says drone industry will be worth $127 billion worldwide by 2017

    The drone industry will be worth as much as $127 billion by 2020, according to consulting group PricewaterhouseCoopers LLP. The global market for commercial applications of drone technology is currently worth an estimated $2 billion, but new applications and an increase in demand will help fuel explosive growth in the industry. One project envisions drones […]

  • Goldman Sachs

    Goldman Sachs just gave the axe to more traders

    Goldman Sachs handed pink slits to traders in its securities business on Thursday, according to insiders familiar with the firings. Based on the new round of layoffs Goldman Sachs has now cut around 10% of its traders in the fix-income, currencies and commodities (FICC) business. The news was first reported by The Wall Street Journal. Goldman Sachs […]

  • Yahoo and ATT end partnership

    Yahoo just lost an AT&T deal worth $100 million in almost pure profit

    Yahoo has been providing internet services to AT&T for 15 years and this week the company lost that partnership. The deal was worth nearly $100 million a year in pure profit for AT&T, according to the WSJ. The deal, which started in 2001, gave Yahoo the right to host AT&T’s main website, along with various applications […]

  • Bill Ackman and Valeant regrets

    Bill Ackman says there’s been a lot of ‘brain damage’ in dealing with Valeant’s board

    Activist investor Bill Ackman has admitted that he “of course” regrets investing in Valeant Pharmaceuticals and he says working with the company’s executives has been a huge pain. “There’s been a lot of brain damage in the last five weeks working with the board,” Ackman said Monday in an interview with CNBC’s Scott Wapner. Ackman joined […]

  • ExxonMobil worst quarter in 17 years

    ExxonMobil just reported its worst profits since 1999

    ExxonMobil’s first-quarter profits dipped by 63% to $1.8 billion, it’s worst reported quarterly profit since 1999. The company, the world’s largest publicly traded oil firm, said it was the “sharply lower commodity price” for oil that led to “challenging industry conditions” which impacted its business.  Oil prices in the first quarter plummeted to just $26 a […]

  • BP

    BP may be forced to issue more cuts as profits slump 80%

    Despite cutting costs BP is still hurting from the oil crash and may be forced to issue more cuts. The company experienced a second consecutive quarterly loss after three rounds of spending cuts that witnessed thousands of job cuts which will be completed by the end of 2017. BP posted a net loss of $583 […]

  • GoPro

    GoPro analyst is ‘skeptical’ that the company can fix its problems

    Shares at GoPro Inc. are down nearly 5% after analysts at Pacific Crest said they “remain skeptical” the company’s new software and recent acquisitions can help improve its future forecasts. Pacific Crest’s Brad Erickson reiterated a sector weight rating on the stock but lowered fiscal 2016 and 2017 revenue and earnings-per-share estimates, citing continued weakness […]