However, some analysts covering the streaming space are doubtful of Disney+’s ability to disrupt Netflix’s dominant position, saying its family focused content offering lacks quality and quantity compared with Netflix’s. “We do not view Disney+ as a strong alternative to Netflix,” Suntrust tech analyst Matthew Thornton said in a note Friday. “Bottom-line, Disney+ features family
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Hedge fund manager David Einhorn is taking more digs at Tesla. “The wheels are falling off — literally,” Einhorn, founder and president of Greenlight Capital, said in an investor letter seen by CNBC. Einhorn’s public bet against Tesla added to the fund’s 11 percent gain in the first quarter. The 50-year-old investor slammed Tesla’s safety
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Wells’ deposits fell less than expected, totaling $1.3 trillion. Loans came in at $950.1 billion, roughly in line with expectations. However, not all of Wells Fargo’s numbers were positive. Wells Fargo’s nonperforming assets totaled $7.3 billion, well above a $6.67 billion estimate from StreetAccount. The bank’s efficiency ratio was also higher than forecast, coming in
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PNC Financial’s first-quarter profit met analysts’ estimates on Friday, as a rise in expenses and provision for credit losses overshadowed growth in interest income and loans. The lender’s expenses rose 2% to $2.58 billion, while provision for loan losses more than doubled to $189 million from a year ago. Net interest income rose about 5%
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J.P. Morgan Chase on Friday reported record first-quarter profit and revenue that exceeded analysts’ expectations as the bank benefited from higher interest rates. The company said profit rose 5 percent to $9.18 billion, or $2.65 a share, compared with analysts’ average estimate of $2.35 a share. Revenue also rose 5 percent to $29.9 billion, exceeding
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CNBC’s Jim Cramer on Thursday said it’s time for “wholesale change” in Bed Bath & Beyond‘s management. “The company still has a good balance sheet, $1 billion in cash, so I think it can be saved,” the “Mad Money” host said. “But I gotta tell you something: not with this management team.” The home goods
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Jason Redmond | AFP | Getty Images Workers are pictured next to a Boeing 737 MAX 9 airplane on the tarmac at the Boeing Renton Factory in Renton, Washington on March 12, 2019. Check out the companies making headlines after the bell: Shares of Boeing ticked higher in extended trading Thursday on news that the
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One feature of the new Tax Cuts and Jobs Act is a brand-new 20% deduction for qualified business income. The tax break is available to owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships. It isn’t available to everyone: Entrepreneurs with taxable income under $157,500 if single or $315,000 if married may take the
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In 2013, the Consumer Financial Protection Bureau estimated that one-quarter of American workers could be eligible. However, the program has been plagued by problems. The bureau has since found that student loan servicers delay or deny borrowers access to the program by failing to provide them with accurate and complete information about its requirements. As
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Millennials are being squeezed out of the world’s middle class as incomes stagnate and costs rise, according to research by the Organization for Economic Co-operation and Development (OECD). In a report published Wednesday, the 36-nation intergovernmental economic body said younger people were struggling to make it into that bracket, while those who were already included
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