3:33 a.m. Today3:33 a.m. Jan. 20, 2021
- By Andrew Keshner
Here's the maximum amount Biden’s stimulus checks and tax credits would deliver to America's poorest families'Right now, the smartest thing we can do is go big,' Janet Yellen said Tuesday.
3:19 a.m. Today3:19 a.m. Jan. 20, 2021
- By Meera Jagannathan
Black Americans are dying from COVID-19 at higher rates than others — but they are also getting vaccinated at lower ratesA new analysis reveals the racial disparity in health-care worker vaccinations.
3:13 a.m. Today3:13 a.m. Jan. 20, 2021
Barron’s Daily: Inauguration Day Is Here. What to Know.
Inauguration Day is here, Trump grants pardons to Bannon and other allies, Democrat-led Senate prepares for impeachment trial, and other news to start your day.
3:01 a.m. Today3:01 a.m. Jan. 20, 2021
- By Tonya Garcia
German-based Mytheresa joins growing list of e-commerce retailers going publicMany retailers filed for bankruptcy in 2020, but digital retailers aim to take advantage of the online shift
2:48 a.m. Today2:48 a.m. Jan. 20, 2021
- By Ciara Linnane
Morgan Stanley shares higher premarket after earnings beat Morgan Stanley shares rose 2.2% in premarket trade Wednesday, after the bank blew past estimates for its fourth quarter. The bank said it had net income of $3.4 billion, or $1.81 a share, in the quarter, up from $2.2 billion, or $1.30 a share, in the year-earlier period. Revenue rose to $13.6 billion from $10.9 billion. The FactSet consensus was for EPS of $1.30 and revenue of $11.6 billion. The year-earlier numbers were impacted by the acquisition of ETrade, which was completed on Oct. 2, and is included in the wealth management segment, the bank said in a statement. Investment banking revenue rose 46% in the quarter to $7.004 billion, as higher advisory revenues for M&A and a more than doubling of equity underwriting revenue offset a decline in debt underwriting. Sales and trading revenues rose 32% from a year ago to $4.220 billion, boosted by gains in equity and fixed income trading. The bank's wealth management division delivered revenue of $5.7 billion, up from $4.6 billion a year ago. Net interest income rose to $1.207 billion from $1.033 billion. Investment management revenues fell to $1.1 billion from $1.4 billion a year ago. Shares have gained 30% in the last 12 months, while the S&P 500 has gained 14%.
2:10 a.m. Today2:10 a.m. Jan. 20, 2021
P&G sales rise, outlook lifted as shoppers pay upProcter & Gamble Co. sales surged in the most recent quarter, fueled in part by demand for high-end household products from pricey dish soap to a $300 electric toothbrush. Despite a tough economic picture and high unemployment, the maker of Gillette razors and Pampers diapers said consumers are increasingly willing to pay more for products.
1:59 a.m. Today1:59 a.m. Jan. 20, 2021
- By Jon Swartz
Netflix tops 200 million subscribers with year-end flourish, stock jumps 10%Netflix Inc. topped 200 million streaming subscribers for the first time at the end of 2020, as sign-ups surged despite higher prices in the U.S. and Canada.
1:49 a.m. Today1:49 a.m. Jan. 20, 2021
Commerce Bancshares EPS tops view, revenue missesCommerce Bancshares said its profit for the fourth quarter rose as the provision for credit losses fell along with a decrease in the estimate of the allowance for credit losses. The Kansas, City, Mo., bank-holding company on Wednesday posted a profit of $129.9 million, or $1.11 a share, compared with $106.9 million, or 88 cents a share, in the year-ago period.
1:11 a.m. Today1:11 a.m. Jan. 20, 2021
- By Tomi Kilgore
UnitedHealth's stock rises, as profit fell less than forecast while revenue roseShares of UnitedHealth Group Inc. rose 1.0% in premarket trading Wednesday, after the health care services company reported a fourth-quarter profit that fell less than expected, while revenue rose above forecasts. Net income fell to $2.21 billion, or $2.30 a share, from $3.54 billion, or $3.68 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share declined to $2.52 from $3.90 but beat the FactSet consensus of $2.41. Revenue grew 7.5% to a record $65.47 billion, above the FactSet consensus of $64.99 billion. Premiums revenue grew 6.2% to $50.58 billion, but missed the FactSet consensus of $50.85 billion, while products revenue rose 14.0% to $8.69 billion to beat expectations of $8.38 billion and services revenue increased 10.2% to $5.75 billion to top forecasts of $5.34 billion. "Fourth quarter operating results reflect restoration of care patterns, the company's continued efforts to provide support and relief efforts to correct economic imbalances caused by the pandemic and additional reserves for rebates and related activity as calendar year assessments were concluded," the company said in a statement. UnitedHealth affirmed its full-year adjusted EPS guidance range of $17.75 to $18.25. The stock has rallied 8.9% over the past three months through Tuesday, while the Dow Jones Industrial Average has gained 9.3%.
12:56 a.m. Today12:56 a.m. Jan. 20, 2021
- By Bill Bischoff
If your spouse died in 2020, skipping this tax rule could result in a harsh penaltyTax Guy has five important tax rules to follow if your spouse died last year.
12:02 a.m. Today12:02 a.m. Jan. 20, 2021
Making ends meet: How to get lower-cost credit in a crisis Taking on debt may be unavoidable, but depending on your personal situation, here are some more affordable or accessible options.
12:00 a.m. Today12:00 a.m. Jan. 20, 2021
Podcast: General Motors’ Stock Up 10%
A new partnership on driverless vehicles has GM’s stock on the rise. Royal Caribbean cuts costs. Plus, New York state’s proposed new income tax.
11:58 p.m. Jan. 19, 2021
Older Americans are sinking into debt—reversing the trend won’t be easyDebt turns toxic with age, and for some groups, it's a ticking time bomb.
8:37 p.m. Jan. 19, 2021
- By Barbara Kollmeyer
Investors think there's more chance Tesla and bitcoin will halve than double, warns Deutsche BankTwo plays that worked out exceedingly well for investors in 2020 are making them wary as a new year kicks off, says our call of the day from Deutsche Bank.
7:03 p.m. Jan. 19, 2021
- By Quentin Fottrell
‘This is sheer economic waste’: Our $1,200 stimulus ‘gift cards’ should have gone to people who need them. Why did we get them instead? ‘We do not light our fireplace with $100 bills, but we are comfortable’‘We do not light our fireplace with $100 bills, but we are comfortable.’
3:42 p.m. Jan. 19, 2021
- By Quentin Fottrell
My husband is a felon and his work plummeted. He did not file a 2019 tax return. Will we get a second $600 stimulus and $1,400 check under a President Biden? ‘We are hurting and need this money.’‘We are hurting and need this money.’
12:26 p.m. Jan. 19, 2021
Mission Produce Gains on Earnings. Its CEO Says Avocados Are a Growth Story.
CEO Stephen Barnard says there is ample room for growth in demand because people in the U.S. eat only half as much of the fruit as people in Mexico.
12:23 p.m. Jan. 19, 2021
- By Elisabeth Buchwald
‘Irresponsible’ and ‘long overdue’: What economists and workers say about Biden’s bid for a $15 minimum wage and end to tip creditsWorkers could benefit from higher wages, but many could lose their jobs as a result of a higher minimum wage and tipped credit elimination.
12:09 p.m. Jan. 19, 2021
- By MarketWatch Automation
11:57 a.m. Jan. 19, 2021
Logitech’s CEO Is Bullish on a World of Hybrid Work
The computer-accessories and media-peripherals company posted 85% sales growth for the December quarter, crushing Wall Street estimates.
11:39 a.m. Jan. 19, 2021
- By MarketWatch Automation
11:27 a.m. Jan. 19, 2021
How to get a vaccine for someone who is homeboundGetting homebound relatives vaccinated against COVID-19 isn't easy—you need to be proactive. Here's what to know.
11:09 a.m. Jan. 19, 2021
- By Mark DeCambre
Dow ends higher to halt 3-session skid as investors cheered by 'act big' Janet YellenU.S. stocks finshed solildy higher Tuesday as Janet Yellen in her Senate confirmation hearing called for more fiscal aid for the pandemic-battered economy, helping push investors into a buying mood at the start of a holiday-shortened trading week. Markets were closed on Monday in observance of the Martin Luther King Jr. holiday. Yellen is Biden's nominee to replace Treasury Secretary Steven Mnuchin, and has emphasized the need for more government spending to avoid a protracted economic recession as a result of the COVID-19 pandemic. "But right now, with interest rates at historic lows, the smartest thing we can do is act big," she said in prepared testimony. The Dow Jones Industrial Average halted a three-session skid to close up 0.4% higher at around 30,930, the S&P 500 index advanced 0.8% to finish at 3,799, halting its two-session slide. The Nasdaq Composite Index rose 1.5% to finish at 13,197, narrowly missing a closing high at around 13,201. Markets were watching results from Netflix , which was coming out after the close of markets on Tuesday. Earlier in the session, market participants were parsing quarterly results from the likes of Goldman , which reported fourth-quarter net income that more than doubled and beat expectations by a wide margin, and revenue that also topped Wall Street expectations.
10:49 a.m. Jan. 19, 2021
- By Greg Robb
Yellen confirmation hearing shows real fight will be over taxesJanet Yellen's confirmation hearing showed that Republicans are mainly focused on protecting their 2017 tax cuts.
10:33 a.m. Jan. 19, 2021
Logitech Raises Guidance Again as Profits Soar. The Stock Is Rising.
The Swiss-U.S. company has benefited from the pandemic-induced work-from-home trend, as demand for its products has surged.
10:28 a.m. Jan. 19, 2021
- By Abby Schultz
Future Returns: How Impact Investors Balance ObjectivesA study from the GIIN shows how a range of investment considerations are weighed with social and environmental goals
9:27 a.m. Jan. 19, 2021
- By Alicia H. Munnell
How best to annuitize defined contribution assets? A ‘Social Security bridge’ may be the best option for generating lifetime income from 401(k) plans A ‘Social Security bridge’ may be the best option for generating lifetime income from 401(k) plans
9:22 a.m. Jan. 19, 2021
Duke Energy’s CEO on the Path to Net Zero, and Why to Buy the Stock
The utility is poised to benefit as a pro-environmental administration takes power in Washington, D.C.
9:21 a.m. Jan. 19, 2021
Merrill Sheds 429 Advisors, but Revenue Bounces Back
Advisor headcount declined by 2.4% during the fourth quarter, but Merrill Lynch’s revenue increased sequentially from the third quarter, as did profits for Bank of America’s global wealth management unit.
8:20 a.m. Jan. 19, 2021
- By Steve Goldstein
BlackRock's CEO says a leading investor is flagging worries about valuations and inflationBlackRock CEO Larry Fink says a leading investor flagged to him concerns about stock market valuations and the possibility of inflation breaking out.
8:17 a.m. Jan. 19, 2021
Seeking Safe Income? Preferreds Are Worth a Look as Rates Rise.
These stocks offer solid yields with less price risk than many bonds. Another play for income investors: preferreds issued by mortgage REITs.
8:12 a.m. Jan. 19, 2021
IRS Says This Tax Season Will Be ‘One of the Nation’s Most Important.’ Make Note of These Key Dates.
April 15 is the deadline to file your taxes, unless you apply for an extension.
7:47 a.m. Jan. 19, 2021
Goldman Sachs Is Still Undervalued Even as Earnings Surge
Stock has gained this year, but it remains inexpensive relative to peers like JPMorgan.
5:39 a.m. Jan. 19, 2021
- By Meera Jagannathan
‘Just because we’re undocumented does not mean we’re worth less than other people': Will undocumented immigrants get COVID-19 vaccines?Experts anticipate several challenges to vaccinating undocumented immigrants.
5:32 a.m. Jan. 19, 2021
Lumentum Agrees to Buy Coherent, Creating a Laser Giant
Coherent stock is soaring after the laser maker agreed to be acquired by rival Lumentum for $5.7 billion, or about $214 a share, in cash and stock.
4:42 a.m. Jan. 19, 2021
- By Andrew Keshner
IRS says this tax season will be 'one of the nation's most important.' Make note of these key datesThe IRS will start accepting returns a little later than usual, on Feb. 12.
4:33 a.m. Jan. 19, 2021
- By Andrea Riquier
Black Americans suffered the most under Trump-era consumer-protection agency, study findsSettlements paid by auto lenders, credit reporting bureaus, mortgage providers and other consumer finance companies to Black and lower-income communities dwindled over the past four years when the Consumer Financial Protection Bureau was asked to intervene, researchers find
4:02 a.m. Jan. 19, 2021
- By Tomi Kilgore
Charles Schwab stock jumps after profit and revenue beats, with trading households rising more than 50%Shares of Charles Schwab Corp. surged 2.1% in premarket trading Tuesday, after the discount brokerage reported fourth-quarter profit and revenue that beat Wall Street forecasts, as client engagement grew to record levels in 2020. Net income was $1.14 billion, or 57 cents a share, after net income of $852 million, or 62 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to 74 cents from 63 cents and beat the FactSet consensus of 65 cents. Total revenue jumped 60% to $4.18 billion, above the FactSet consensus of $4.11 billion. "The pandemic's rapid escalation in early 2020 was accompanied by volatile equity markets and further easing of monetary policy," said Chief Executive Walt Bettinger. "As the year progressed, government aid packages and vaccine developments helped settle the markets, with the S&P 500 eventually erasing its pandemic-related losses to finish up 16% from December 2019." That helped lift new-to-firm households last year by more than 175% from 2019, while the number of households placing trades rose more than 50%. The stock, which reached a record close of $61.20 on Jan. 12, has soared 51.1% over the past three months through Friday, while the S&P 500 has gained 10.0%.
3:52 a.m. Jan. 19, 2021
- By Emily Bary
The COVID-19 earnings recession is expected to remain, but an end may be in sight After the holiday quarter snapped an earnings recession last year, the same is not expected this year --- but it isn't impossible, and may happen three months later.
3:28 a.m. Jan. 19, 2021
Goldman’s Profit Shows It’s a Great Time to Be an Investment Bank
Income both from trading and from financial advisory work took off, lifting profits far beyond what Wall Street had expected.