American companies are sitting on piles of cash, frustrating investors and leading some on Wall Street to wonder why they aren’t spending. Microsoft currently has the largest cash pile at $136.6 billion as of last quarter, according to estimates from FactSet. Berkshire Hathaway, Alphabet and Apple occupy the other top spots, with $128.2 billion, $121.2
Investing
Twitter CEO and co-founder Jack Dorsey gestures while interacting with students at the Indian Institute of Technology (IIT) in New Delhi on November 12, 2018. Prakash Singh | AFP | Getty Images Twitter needs to spend money, according to Evercore ISI. The social media company’s impressive business turnaround in the past few years has masked
A customer pays for his purchases inside a Lowe’s store in Cary, North Carolina. Jim R. Bounds | Bloomberg | Getty Images Here are the biggest calls on Wall Street on Wednesday: Raymond James initiated Lululemon & Nike as ‘outperform’ & Footlocker as ‘underperform’ Raymond James said in its initiation of several retailers that overall
Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019. Al Drago | Bloomberg | Getty Images Central banks have been giving cheap money to investors who have been injecting it into companies that are often
Bridgewater Associates co-Chairman Ray Dalio said Tuesday that the U.S. will have little choice but to raise taxes in the coming years to offset its mounting liabilities and debts. Dalio, who founded the hedge fund in 1975, told CNBC from the Greenwich Economic Forum that the national debt, pension liabilities and health-care liabilities will ultimately
Vertical Research Partners is the first firm to begin covering Virgin Galactic, initiating the space tourism venture’s stock with a “buy” rating and saying its risk “is misunderstood.” “We think the technical risk to SPCE’s human spaceflight program is less draconian than the stock appears to be pricing in,” analyst Darryl Genovesi said in a
Some Robinhood users have been manipulating the stock-trading app to trade with what they’re calling “infinite leverage.” The cheat code was being shared on social media site Reddit, with one trader claiming he took a $1,000,000 position in stock using only a $4,000 deposit. Through Robinhood Gold, the start-up’s subscription service, users can borrow money
With the 2020 election now only a year away, Morgan Stanley put together a cheat sheet for investors to trade the eventual outcome. For example, the firm sees bank and oil stocks as the biggest winners if President Donald Trump wins re-election and the Republicans keep the Senate. Morgan Stanley laid out the four possible
Billionaire investor Leon Cooperman teared up on Monday as he discussed the political divide in the U.S. and his concerns about the American dream. “I care,” the hedge-fund manager answered on CNBC’s “Halftime Report,” tearing up after CNBC’s Scott Wapner asked why he has been so vocal about the 2020 election. Cooperman’s response came in
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America decided to move up an increase in the company’s minimum to early 2020 from 2021. The company announced Monday that its workers will earn a minimum of $20 per hour starting by the end of next year’s first quarter. Bank of America’s