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BofA: The Biotech Sector Is In A 'Perfect Storm' For M&A

Top Finance News - Fri, 01/05/2018 - 5:31pm

Few would call the  biotech sector as exciting as the "FAANG" group. But throughout 2017, investors who completely ignored biotech stocks missed out on strong gains. The Nasdaq Biotechnology ...


Twitter says world leaders like Trump have special status

Top Finance News - Fri, 01/05/2018 - 5:27pm

Twitter Inc on Friday reiterated its stance that accounts belonging to world leaders have special status on the social media network, pushing back against users who have called on the company to banish U.S. President Donald Trump. "Blocking a world leader from Twitter or removing their controversial Tweets would hide important information people should be able to see and debate," Twitter said in a post on a corporate blog. Twitter had already said in September that "newsworthiness" and whether a tweet is "of public interest" are among the factors it considers before removing an account or a tweet.


Morgan Stanley to take $1.25 billion hit in fourth-quarter from tax bill

Top Finance News - Fri, 01/05/2018 - 5:15pm

The net blow of the bill to the bank will include about a $1.4 billion net discrete tax provision, mainly due to the remeasurement of certain net deferred tax assets using the lowered corporate tax rate, the company said in a filing. The sweeping tax code changes enacted in late December cuts the corporate tax rate to 21 percent from 35 percent and were expected to mean short-term pain, but long-term gain for U.S.-based corporations. Morgan Stanley's arch rival Goldman Sachs Group Inc (GS.N) had said on Dec. 29 it expects its fourth-quarter earnings to decrease by about $5 billion due to repatriation tax, the cost of moving money from foreign countries to the U.S., Goldman said in a filing.


Morgan Stanley to take $1.25 billion hit in fourth-quarter from tax bill

Top Finance News - Fri, 01/05/2018 - 5:15pm

The net blow of the bill to the bank will include about a $1.4 billion net discrete tax provision, mainly due to the remeasurement of certain net deferred tax assets using the lowered corporate tax rate, the company said in a filing. The sweeping tax code changes enacted in late December cuts the corporate tax rate to 21 percent from 35 percent and were expected to mean short-term pain, but long-term gain for U.S.-based corporations. Morgan Stanley's arch rival Goldman Sachs Group Inc had said on Dec. 29 it expects its fourth-quarter earnings to decrease by about $5 billion due to repatriation tax, the cost of moving money from foreign countries to the U.S., Goldman said in a filing.


Why Micron Technology, Inc. Shares Rose 88% in 2017

Top Finance News - Fri, 01/05/2018 - 4:51pm

The memory-chip market in 2018 doesn't look anything like the plunge-prone high points of yesteryear.


Bitcoin Rises to Break Above $16,000, and Another Alt-Coin Is Soaring

Top Finance News - Fri, 01/05/2018 - 4:49pm

Several cryptocurrencies have made big moves this week.


Banks, ranked by number of consumer complaints

Top Finance News - Fri, 01/05/2018 - 4:44pm

The CFPB keeps a database of consumer complaints. Some banks were better than others in 2017.


Your paycheck may be going up soon because of tax cuts

Top Finance News - Fri, 01/05/2018 - 4:37pm

Millions of working Americans should start seeing fatter paychecks as early as next month, Republican leaders say, as a result of the recently passed tax law. But the precise timing hasn't been fixed yet. ...


Sears Holdings to close 103 Kmart and Sears stores

Top Finance News - Fri, 01/05/2018 - 3:39pm

Sears Holdings Corp said on Thursday it was shuttering 103 unprofitable Kmart and Sears stores as it continues to streamline operations amid mounting debt and a string of quarterly losses.


Intel recalled a major chip in 1995 and turned them into keychains inscribed by the CEO — and the message speaks to Intel's current crisis

Top Finance News - Fri, 01/05/2018 - 3:12pm

Intel recalled the Pentium P5 chip in 1995 that produced errors for certain calculations. The recalled chips were turned into keychains for Intel employees. The keychains had an inscription from former Intel CEO Andy Grove that became the company's mantra, and also applies to Intel's current chip crisis.


Why Blue States May Not Be Able to Game the New Tax System

Top Finance News - Fri, 01/05/2018 - 2:35pm

Some high-tax states are looking for ways to limit or even negate the new $10,000 limit on state and local tax deductions imposed by the Republican tax bill. Options being explored by New York, California and other blue states include direct legal challenges to the constitutionality of the new rules, relying more on payroll taxes and less on income taxes, and replacing state income taxes with charitable deductions to state and local governments.


FBI Has Re-Opened its Investigation Into the Clinton Foundation

Top Finance News - Fri, 01/05/2018 - 2:33pm

FBI Has Re-Opened its Investigation Into the Clinton Foundation


Sears plans to close 64 Kmart, 39 Sears locations

Top Finance News - Fri, 01/05/2018 - 2:05pm

FBN’s Deirdre Bolton provides an update on Sears Holdings, which is going to close an additional 103 Kmart and Sears locations this year.


ONEOK, Inc. Dramatically Increases the Odds of Achieving Its Ambitious Dividend Growth Forecast

Top Finance News - Fri, 01/05/2018 - 2:05pm

The pipeline and processing company secured a high-return project that increases the visibility of its future growth.


Teva Vs Mylan: Wells Fargo Weighs In

Top Finance News - Fri, 01/05/2018 - 1:43pm

The past year has been a rollercoaster ride for Teva Pharmaceutical Industries Ltd (ADR) (NYSE: TEVA ) and its investors. But even with the stock down 48.6 percent in the past year, investors may have ...


Exelixis Amends Cabozantinib-Tecentriq Phase Ib Trial

Top Finance News - Fri, 01/05/2018 - 1:43pm

Exelixis, Inc. (EXEL) announced an amendment to the protocol for the phase Ib trial of cabozantinib combined with Tecentriq whereby there will be four new expansion cohorts to the trial.


US STOCKS-Wall St shrugs off weak December jobs data, extends gains

Top Finance News - Fri, 01/05/2018 - 1:13pm

Wall Street's main indexes extended their new year rally on Friday after weak December U.S. jobs data raised expectations that the Federal Reserve would stick to its policy of gradual interest rate hikes in 2018.


Superfund work touted by Trump EPA was completed years ago

Top Finance News - Fri, 01/05/2018 - 1:13pm

WASHINGTON (AP) — The Environmental Protection Agency is touting cleanups at seven of the nation's most polluted places as a signature accomplishment in the Trump administration's effort to reduce the number of Superfund sites, even though records show the physical work was completed before President Donald Trump took office.


Helena Bonham Carter Reportedly Cast As Princess Margaret in ‘The Crown’ Season 3

Top Finance News - Fri, 01/05/2018 - 12:53pm

Helena Bonham Carter Reportedly Cast As Princess Margaret in ‘The Crown’ Season 3


64 Kmart Stores Closing 2018: List of Latest Locations

Top Finance News - Fri, 01/05/2018 - 12:28pm

Sears Holdings Corp (NASDAQ:SHLD) has released a list of Kmart stores closing in 2018. The following are the locations on that list. ...


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