Jim Cramer Scott Mlyn | CNBC Investors should be careful not to buy or sell stocks based on last week’s brief inversion of the yield curve in the bond market, CNBC’s Jim Cramer warned on Monday. Cramer was skeptical about buying the Dow Jones Industrial Average‘s 300-point advance at the open on Wall Street, which
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Former SEC Chairman Harvey Pitt on Monday questioned the motivation of Harry Markopolos, the Bernie Madoff whistleblower who unveiled a long list of allegations against General Electric last week in an investigation for a short seller. “One of the ways you can test Markopolos’ bonafides, however, is the fact that the SEC has a whistleblower
General Electric shares fell more than 11% Thursday after Madoff whistleblower Harry Markopolos targeted the conglomerate in a new report, accusing it of issuing fraudulent financial statements to hide the extent of its problems. A website has been set up to disseminate the report, www.GEfraud.com, where Markopolos calls it “a bigger fraud than Enron.” The
Ray Dalio, founder of investment firm Bridgewater Associates, speaking at the WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Hedge fund titan Ray Dalio said he wouldn’t rule out China using its Treasury holdings to gain an upper hand against the U.S. in the trade war — a view that contrasts
A visitor at Intel’s Artificial Intelligence (AI) Day walks past a signboard during the event in Bangalore, India Manjunath Kiran | Getty Here are the biggest calls on Wall Street on Friday: Bank of America downgraded Dow Inc. to ‘underperform’ from ‘neutral’ Bank of America said it downgraded the chemical company due to global demand
General Electric bounced back Friday after the CEO shored up confidence by purchasing a bulk of company shares, and analysts defended the industrial giant. GE’s stock was up more than 6% on Friday morning following its biggest drop since April 2008 a day earlier. GE shares had tanked 11% on Thursday. The stock began its
The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019 Alwyn Scott | Reuters Enron whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems. Before the report was made public, GE said, in a statement, “we
Levi Strauss & Co. CEO Chip Bergh (L) and CFO Harmit Singh (R) pose ahead of the company’s IPO outside the New York Stock Exchange (NYSE) in New York, U.S., March 21, 2019. Brendan McDermid | Reuters Here are the biggest calls on Wall Street on Thursday: Bank of America upgraded Levi Strauss & Co.