Getty Images Traders on the floor of the New York Stock Exchange. Check out the companies making headlines after the bell Wednesday: Viacom popped after the bell when it slashed pay for its executive chairman by 85 percent. The mass media company said it would cut the pay of famed leader Sumner Redstone to $2 million for the 2015 fiscal year, versus a total of $13 million in 2014, the company said in a release. The company also chopped the bonus for President and CEO Philippe Pierre Dauman to $14 million, a 30 percent decline. An acquisition, paired with…
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Xiaomi has officially announced the Redmi 3 smartphone. The device is powered by Qualcomm Snapdragon 616 chipset, and sports a 5-inch 720P HD display. It comes with 2GB RAM and 16GB expandable internal memory, and packs in a large 4,100mAh battery. In terms of camera, the device features a 13MP rear unit and a 5MP front shooter. Measuring 139.3 x 69.6 x 8.5mm and weighing in at 144g, the handset ships with the company’s MIUI 7 OS. The Redmi 3 offers support for dual-SIM functionality as well as 5V/2A fast charging. Design-wise, the device comes with a full metal body…
The cuts, which could be announced as early as Thursday, will be presented as an extension of the strategy announced by the previous chief executive, Antony Jenkins, in 2014, when he promised to cut 7,000 jobs in the investment bank over three years. Barclays plans to exit investment banking operations across much of Asia, continental Europe and Latin America as it focuses on its core US and UK markets, according to people familiar with the matter. The bank declined to comment. The move mirrors cutbacks at several European rivals, such asDeutsche Bank and Royal Bank of Scotland, and reflects tough…
A couple of new images alleged to be of Xioami’s upcoming Mi 5 flagship smartphone have surfaced online. The images, which were posted on Weibo but have since been taken down, show the black-colored variant of the device. This comes just a couple of weeks after new renders as well as a video featuring the Mi 5leaked. The handset has already been the subject of several leaks and rumors until now. The smartphone is confirmed to be powered by Qualcomm’s latest Snapdragon 820 SoC. Other rumored specs include 5.2″ QHD display, 4GB of RAM, 16MP/13MP camera combo, as well as…
How does one find bargains in the market? Eddy Elfenbein of Crossing Wall Street suggests that investors start by examining two factors: a stock’s dividend yield, and its amount of debt relative to equity. Performing such a screen will generate stocks that are attractive in terms of their yield — which may hint at low valuations — but may be less risky than other high-dividend stocks, especially in an environment in which the Federal Reserve is raising interest rates. “Basically, it gives you companies with fiscal health, and also with good valuations,” Elfenbein said Thursday on CNBC’s “Trading Nation.” Performing…
Editor’s Note: David Katz, president and chief investment officer of Matrix Asset Advisors, shares his top 2016 stock picks for CNBC Pro’sPlatinum Portfolio. After one of the most difficult periods for value investing in years, we believe value is poised to have a solid 2016 and should perform very well on a relative basis. As such our picks are focused on “deeper value” stocks. All of these names got beat up in 2015 and sell at fire sale prices; yet they have strong franchises, good balance sheets and favorable long-term outlooks. We are equally weighting the following four names: [“source…
The Swiss National Bank’s (SNB) decision to scrap its cap on the franc against the euro a year ago today shocked markets and sent the country’s currency rocketing 30 percent. One year on, the franc is still high, 10 percent up against the euro, and export-focused Switzerland is still feeling the pain. Looking back at the SNB’s shock move James Watson, MD for UK and Europe at ADS Securities, told CNBC “a lot of people were caught in the headlights.” Thomas Hodel | Reuters A man looks at a board showing currency exchange rates in Bern January 15, 2015. Hashtags…
While the Dow Jones industrial average was only in a correction ahead of Friday’s trading, the carnage in small cap stocks has been much worse. “You could argue we’re in a stealth bear,” said Jurrien Timmer, director of global macro research at Fidelity Investments. “If you look deeper within the market, the Russell 2000 is down [about] 22 percent from its high. That’s bear market territory,” Timmer told CNBC’s “Squawk Box” on Friday. “The markets are very oversold, extremely oversold. As of yesterday, only 9 percent of stocks in the S&P were above their short-term moving average.” Read MoreBob Doll:…
General Electric — Chinese appliance maker Haier is buying GE’s appliance unit for $5.4 billion to boost its global presence. Haier had revenue of $32.6 billion in 2014, making it the world’s biggest appliance maker. The deal also includes a strategic partnership between the two firms in areas such as the Internet, health care and advanced manufacturing. Intel — the chipmaker reported earnings that beat on both the top and bottom line, but its data center group posted revenue that missed expectations. The firm maintained full-year 2016 guidance of mid-single digit revenue growth, while capital expenditure guidance was lowered by…
After being hopeful that stocks found a floor after Thursday’s bounce back, traders are now watching to see if the market can even hold onto the previous day’s lows as stocks sell off worldwide. A big drop in crude prices overnight crushed stock prices globally, and any remnants of Thursday’s big rally faded. Dow futures were down more than 300 points, and S&P 500 futures were off 1.7 percent as crude tanked more than 5.5 percent. West Texas Intermediate futures were at $29.45 per barrel. “If stocks don’t hold the lows, you could see further downside intensify as people throw…