July, 2017

 

Pandora Media jumps 6% after earnings

Pandora Media Inc. P, -5.49% reported a large quarterly loss Monday, mostly due to one-time charges for the divestment of its Ticketfly ticketing service, but beat earnings expectations on an adjusted basis, and shares moved higher in late trading. The online-music company reported a net loss of $275.1 million, or $1.20 a share, on revenue of $376.8 million, with sales gaining nearly 10% from the year-earlier quarter. After adjusting to strip out the one-time Ticketfly charges and other costs, Pandora claimed a loss of 21 cents a share, after postingRead More


The ‘scarecrow’ method of getting people to pay taxes a…

Maybe taxpayers just aren’t scared enough. Companies are more likely to comply with tax laws when they are reminded how likely they are to be audited, according to a new working paper from researchers at la Universidad de la Republica in Uruguay and at the Anderson School of Management at University of California, Los Angeles. The study was distributed by the National Bureau of Economic Research, a Cambridge, Mass.-based research group. The researchers collaborated with Uruguay’s Internal Revenue Service and sent letters to more than 20,000 companies in that countryRead More


HBO says hackers leaked ‘Game of Thrones’ script, other…

Westeros is under siege by hackers. HBO, home of “Game of Thrones,” is the latest entertainment company to be hacked and have its content leaked online. In a memo to staff, HBO Chief Executive Richard Plepler confirmed that proprietary information including some of its shows was recently stolen. HBO said it is working with law enforcement and cybersecurity firms to fix the breach. HBO, a unit of Time Warner Inc. TWX, -0.30%  , declined to elaborate on what was stolen and whether the theft included sensitive employee data. Entertainment Weekly,Read More


SoftBank hasn’t given up on Charter, yet, sources say

Despite what appears to be a distinct lack of interest from Charter Communications management in pursuing a deal, SoftBank continues to make efforts to acquire the giant cable company, according to people familiar with the situation. Reports of SoftBank’s interest in combining Sprint, which it controls, with Charter first surfaced late Friday, and Sunday night Charter released a statement that was intended to make it clear it has no interest in seeking a union. That has not stopped SoftBank and its hard-charging founder Masayoshi Son from a quixotic attempt atRead More


A short-term correction looms in the U.S. stock market

The stock market has been in a slumber since gapping up above a modest downtrend line on July 12. From July 13 to July 26 — 10 trading days — the VIX VIX, -0.29%  closed below 10. On five of those days, the S&P 500 Index SPX, -0.07%  closed at a new all-time high. And on seven days, the benchmark index traded at a new intraday record. So the market has been advancing slowly and methodically, but in doing so has created a severe overbought condition, especially in terms ofRead More


GRPN Stock Price – Groupon Inc. Stock Quote (U.S.: Nasd…

Groupon’s stock plummets on sales miss Shares of Groupon fell 10% in premarket trade Wednesday after the company reported a decline in sales, falling well short of Wall Street expectations. The company reported a loss of $24.4 million, or 4 cents a share, compared with a year-earlier loss of $49.1 million, or 8 cents a share. Excluding one-time items, Groupon reported non-GAAP earnings of a penny a share, ahead of the one-cent loss analysts on average surveyed by FactSet had been expecting. Revenue for the period fell 3% to $673.6Read More


Texas Roadhouse shares up nearly 7% after earnings

Shares of Texas Roadhouse Inc. TXRH, -0.84% rose nearly 7% late Monday after the restaurant chain reported second-quarter sales above expectations and per-share earnings in line with forecasts. Texas Roadhouse said it earned $37.6 million, or 53 cents a share, in the quarter, compared with $33.6 million, or 47 cents a share, in the year-ago period. Revenue rose to $566.2 million, from $508.1 million a year ago. Analysts polled by FactSet had expected per-share earnings of 53 cents a share on sales of $563 million. Comparable-restaurant sales rose 4% atRead More


My adoptive parents ostracized me because I’m gay — do …

Dear Moneyologist, My father died in 2014 and my mother died in January of this year. I was adopted, and my non-biological sister is my only other remaining family member. A second cousin informed me of my mother’s deaths My father did not include me in the will, but so far that’s hearsay. I did call an attorney in Indiana where my family is from, he checked about any deeds for me, and apparently there was no will. Also, what about life insurance policies? Who gets that? My main concernRead More


Ulta is safe from Amazon but L’Oréal says U.S. beauty m…

Getty Images Ulta has created a moat for itself versus Amazon and department store competitors, analysts say Ulta Beauty Inc.’s problem isn’t Amazon.com Inc., but a softening U.S. beauty market, according to Oppenheimer analysts, who downgraded the stock to perform from outperform. Analysts assigned Ulta a price target of $270. While many retailers are feeling the pain of the “Amazon effect,” Ulta ULTA, +1.05% may face bigger problems at department stores, Oppenheimer said in a Monday note. Analysts based their downgrade on comments from L’Oréal S.A. OR, -0.54% which reportedRead More


Lawsuit says Wells Fargo auto insurance charges were a …

A new lawsuit accuses Wells Fargo of racketeering violations and fraud after the bank admitted to charging several hundred thousand borrowers for auto insurance they did not ask for or need, causing many delinquencies. The proposed class action filed on Sunday in San Francisco federal court deepens the fallout from the latest bad practice uncovered at Wells Fargo. It follows the scandal in which the third-largest U.S. bank has said employees created as many as 2.1 million unauthorized customer accounts to meet sales goals. Wells Fargo said late last weekRead More