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Someone Tell the President: Tesla’s Musk Promised China $320M Tax Revenue a Year

By Anton Wahlman Tesla (TSLA) lost $1 billion in 2018, and in first-half 2019 it lost more than $1 billion. It should therefore come as no surprise that Tesla isn't much of a U.S. taxpayer. To the contrary, it receives several hundred million dollars per quarter in U.S. subsidies. https://realmoney.thestreet.com/investing/stocks/tesla-s-main-product-isn-t-cars-it-s-subsidies-14769263?_ga=2.188514862.766138055.1564413528-1422021784.1537736414 That was $713 million in U.S. subsidies alone, for the third quarter…

Dow Gains as Investors Prepare for First Rate Cut in 10 Years

Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average finished up Monday as investors prepared this week for a likely quarter-point rate cut from the Federal Reserve and earnings from nearly a third of the companies in the S&P 500. Mylan (MYL) and Pfizer (PFE) agreed to combine their off-patent drug businesses in an all-stock deal. Mylan is Real Money's Stock of the Day. Cancer diagnostics company Exact Sciences (EXAS) will acquire Genomic Health (GHDX) for about $2.8…

Citigroup Preparing to Slash Hundreds of Jobs: Report

Citigroup (C) is preparing to cut hundreds of jobs in its trading business, people familiar with the matter told Bloomberg News. Revenue growth in Citigroup's trading business has been poor, and the New York banking company is now focused on laying employees off in both fixed-income and stock trading, the news service reported. The layoffs will come in the rest of 2019. They include at least 100 jobs in the equities trading unit, roughly 10% of that unit, Bloomberg reported. Citigroup has been cutting costs and will…

National Oilwell Varco Expected to Lose 6 Cents a Share

National Oilwell Varco (NOV) is expected to report a loss of $24.2 million, or 6 cents a share, on sales of $2.1 billion after the market closes on Monday, based on a FactSet survey of 29 analysts. In the same period a year ago, the company posted earnings of 6 cents a share on sales of $2.1 billion. It reported a loss of 68 million. The stock has fallen 18.9% since the company last reported earnings on Apr. 25. Quarterly estimates have fallen less than 1 cent a share in the past month. In the upcoming quarter…

Leggett & Platt Expected to Earn 63 Cents a Share

Leggett & Platt  (LEG) is expected to report adjusted net income of $85.3 million, or 63 cents a share, on sales of $1.3 billion after the market closes on Monday, based on a FactSet survey of 5 analysts. In the same period a year ago, the company posted earnings of 63 cents a share on sales of $1.1 billion. It reported net income of $77.9 million. The stock has fallen 5.2% since the company last reported earnings on Apr. 29. Quarterly estimates have fallen less than 1 cent a share in the past month. Leggett…

Dow, Nasdaq notch worst day in 4 weeks amid swirling central-bank policy

U.S. stocks finished lower Thursday, retreating from records for the S&P 500 and Nasdaq, after a series of mostly disappointing earnings reports and fears that the Federal Reserve may be less aggressive than hoped in cutting interest rates next week after the European Central Bank’s policy decision. Technology-related stocks were also under pressure after electric-car maker Tesla TSLA, -13.61% failed to meet earnings expectations, while Wall Street digested a deluge of earnings reports on one of the busiest days of…

Starbucks Shares Surge on Earnings Beat

Shares of Starbucks (SBUX) rose in after-hours trading Thursday after the coffee giant posted better-than-expected results and updated guidance for the year. The stock rose $5.94, or 6.5%, to $96.92 in after-hours trading. Starbucks reported adjusted earnings of 78 cents a share on revenue of $6.82 billion for its latest quarter. Analysts surveyed by FactSet had expected the company to post earnings of 72 cents a share on revenue of $6.7 billion. In the same period a year ago, the company posted earnings of 62 cents…

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