Investing

A pedestrian walks past a stock ticker at a Fidelity Investments office in Boston, Massachusetts. Brian Snyder | Reuters Thanks to record-breaking markets and more retirement savings, the number of 401(k) and IRA millionaires has reached a new record, according to Fidelity. Fidelity, the largest 401(k) provider in the United States, released its quarterly analysis
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Wedbush Securities’ Dan Ives praised Tesla’s announcement on Thursday morning of a new $2 billion common stock offering. “It’s a smart, strategic move,” Ives said on “Squawk Box.” “It takes any doomsday scenario around cash crunch … off the table.” Shares of Tesla , which have skyrocketed recently, were under some pressure on Thursday after
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Tesla has a long way to go before it justifies its current stock price, New York University finance professor Aswath Damodaran told CNBC on Thursday. Damodaran, known as the “dean of valuation” for his company analyses, said the electric-auto maker would need to have revenues comparable to the Volkswagen Group in 10 years, margins similar
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Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. “I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.” Munger —
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The Facebook analyst who downgraded the stock Tuesday told CNBC he is concerned about the growth of the social media giant’s advertising business. In particular, Pivotal Research Group analyst Michael Levine said he believes a slowdown in advertising from direct-to-consumer brands could spell bad news for Facebook. Instagram and Facebook are the most popular places
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Varo is rolling out a new “no-fee overdraft” program on Tuesday. Mobile-only finance start-up Varo Money just got one step closer to becoming a full-scale bank. After three years and multiple rounds of applications, the FDIC approved the fintech company’s national bank charter application, which allows it to take customer deposits. “We see it as
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A SpaceX Falcon 9 rocket lifts off from Cape Canaveral Air Force Station carrying 60 Starlink satellites on November 11, 2019 in Cape Canaveral, Florida. The Starlink constellation will eventually consist of thousands of satellites designed to provide world wide high-speed internet service. Paul Hennessy | NurPhoto | Getty Images SpaceX is considering spinning off
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Tesla CEO Elon Musk presented the first batch of made-in-China cars to ordinary buyers on January 7, 2020 in a milestone for the company’s new Shanghai “giga-factory”, but which comes as sales decelerate in the world’s largest electric-vehicle market. STR The Saudi Arabia Public Investment Fund dumped 39,000 shares of Tesla in the fourth quarter
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Tesla CEO Elon Musk and Shanghai’s Mayor Ying Yong attend the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. Aly Song | Reuters Investors betting against Elon Musk’s electric-auto maker Tesla collectively lost more than $1 billion-plus on Thursday as the company’s stock rocketed higher after its better-than-expected earnings report. Tesla popped
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CNBC’s Jim Cramer said Friday he’s done with fossil fuel stocks because young investor’s concerns about climate change are holding them down. On “Squawk Box,” Cramer compared oil and other fossil fuel stocks to the sigma attached to investing in tobacco companies, saying they are in the “death knell phase.” He added, ”They’re tobacco. I think
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