Category: Markets

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  • Phil Mickelson insider trading

    Golfer Phil Mickelson was unknowingly involved in insider trading

    Golfer Phil Mickelson has been named in an insider trading case brought forward by the Securities and Exchange Commission Thursday morning, according to a filing. Mickelson received insider tips from sport bettor Billy Walters, one of the co-lead defendants in the case, regarding Dean Foods. Walters received his information from Dean Foods chairman Thomas Davis, the other co-lead defendant. […]

  • Wall Street bonuses are plummeting

    Wall Street bonuses are in free fall as banking jobs continue to disappear

    Wall Street workers are starting to suffer from a declining bonus pool that could fall by about 20% this year, according to data from compensation consultant Johnson Associates Inc. The sharpest drop is likely to be in fixed-income sales and trading, as well as investment-bank underwriting, according to Bloomberg. Those workers are expected to see […]

  • 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 […]

  • Macys is struggling much like Sears

    Macy’s is struggling in much the same way Sears has struggled for years

    Same-store sales fell by 7.4% at Macy’s in the first quarter and that marks the fifth straight quarter of sales declines for the department store. “We are seeing continued weakness in consumer spending levels for apparel and related categories,” Terry J. Lundgren, Macy’s chairman and chief executive officer, said in a statement. Shares at Macy’s […]

  • Staples and Office Depot merger

    Staples calls off $6.3 billion merger with Office Depot

    Staples and Office Depot are no longer working towards a $6.3 billion merger. A trading halt was triggered for both companies’ stocks on Tuesday morning. The announcement was made after a federal judge granted a preliminary injunction Tuesday that had been requested by the Federal Trade Commission, which opposed Staples’ plan to acquire Office Depot. The […]

  • 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 […]

  • Deloitte

    Top 10 highest paying consulting firms for MBAs

    Earning an MBA pretty much guarantees a healthy salary bump, especially when it comes to lucrative industries like consulting. With increasing demand for management consultants, elite firms are willing to dole out impressive compensation packages to make sure they get the best consultants possible. In fact, the base salary for many MBA graduates at a […]

  • Fitbit stock falls apart

    Fitbit shares are getting absolutely clobbered

    Fitbit shares collapsed by more than 17% on Thursday as the wearables manufacturer forecast second-quarter revenues that were lower than analysts expected. While earnings released on Wednesday beat expectations, the company provided guidance for the current quarter that were below even the lowest forecast. Fitbit reported adjusted earnings per share (EPS) of $0.10, beating the forecast […]

  • Peter Thiel

    Peter Thiel just sold $101 million worth of Facebook shares

    Venture Capitalist Peter Thiel, the c0-founder of PayPal and Facebook’s first institutional investor, has sold 857,626 Class A shares in Facebook. The sale has netted Thiel $101 million, according to a filing with the Securities and Exchange Commission. Thiel has been a member of Facebook’s board of directors since April 2005. The shares were sold through […]

  • Jim Chanos

    Jim Chanos is short on Valeant and Elon Musk in general

    Short-seller Jim Chanos doesn’t believe Valeant is headed for a turnaround and he also believes a few Elon Musk companies are in for trouble. The legendary short seller said on Wednesday his firm is still shorting Valeant Pharmaceuticals along with Tesla and SolarCity. “We’re still short Valeant,” Chanos said in an interview with CNBC at […]