Author: FC

How the just-passed banking overhaul bill affects consumers

Legislation that eases banking regulations — and modifies rules governing credit reports and some consumer loans — has cleared Congress and is headed to President Trump for his expected signature. The bill, which was approved by the Senate in March, passed the House on Tuesday in a vote of 258 to 159. The measure rolls back some of the regulations imposed by the Dodd-Frank Act of 2010. That legisl...

More people are unprepared for retirement because of student loans

When it came to saving for retirement, Mary Koster was killing it. She was young, just starting her career and managing to save around 12 percent a year. Then, in 2007, she returned to school in the hopes of advancing her career as a graphic designer. She took out federal and private loans to do so. When she graduated, she was eager to wipe out her education debt. She decided to withdraw $10,000 f...

Ralph Lauren tops estimates as margins improve

Ralph Lauren on Wednesday reported a higher-than-expected quarterly profit, as the luxury apparel maker’s move to pull products off department store shelves and sell more products at full-price boosted margins. The company’s shares rose 3 percent in premarket trading. Ralph Lauren said adjusted gross margin was 59.8 percent in the fourth quarter, a 440 basis point rise from a year earl...

Nordstrom’s post-earnings sell-off was ‘overdone,’ buy for its digital strategy, Deutsche Bank says

Nordstrom's recent earnings sell-off presents a compelling buying opportunity, according to Deutsche Bank.

Americans face high gas prices, crowded roads this Memorial Day weekend

If you plan to hit the roads this Memorial Day weekend, get ready to pay more at the pump. Gas prices are poised to be the highest for the holiday weekend since 2014, according to travel organization AAA. Those prices averaged $2.93 nationally per gallon as of Tuesday. “Gas prices are nearly 60 cents more expensive than last year and will likely jump a few more pennies heading into Memorial ...

Micron is up 43 percent this year and has more room to run, says market watcher

After Micron Technology's explosive start to 2018, investors may be wondering whether the stock has any more energy.

3 debts you should watch as the Federal Reserve raises interest rates

The market has already started anticipating rate hikes by the Federal Reserve, and you should too. Central bank officials have said they are planning to raise rates three times this year. That could go up to four hikes, depending on how June unemployment rate numbers play out. Those moves under Federal Reserve Chair Jerome Powell will change how you access credit and borrow money. One key area you...

Stocks making the biggest moves premarket: LOW, TGT, TIF, INTU, HPE, RRGB & more

Check out the companies making headlines before the bell: Lowe’s – The home improvement retailer missed estimates by 3 cents a share, with quarterly earnings of $1.19 per share. Revenue missed forecasts, as well, and same-store sales were up 0.6 percent compared to the consensus Thomson Reuters estimate of a 3.1 percent increase. Lowe’s said bad weather impacted sales for much of the q...

European lawmakers criticize Zuckerberg for his lack of answers

Facebook Chief Executive Mark Zuckerberg’s meeting with European lawmakers in Brussels on Tuesday has been criticized by political representatives for being too short and providing “no answers.” Zuckerberg’s appearance in the European Parliament was facilitated by Antonio Tajani, the parliament’s president, and consisted of around an hour of questions and less than 10...

Tesla hires a Snap exec as its engineering vice president

Electric carmaker Tesla said on Tuesday it had hired Snapchat maker Snap’s vice president of monetization engineering, Stuart Bowers, as vice president of engineering, to work on its Autopilot software and other projects. Tesla has seen the departure of several senior executives and also is flattening its management structure as it aims to improve efficiency and clear up production bottlenec...

Weekly mortgage refinances drop to an 18-year low as rates jump

A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance. That was the primary driver behind a 2.6 percent drop in total mortgage application volume last week, according to the Mortgage Bankers Association’s seasonally adjusted report. Volume was 10.5 percent lower than a year ago. Refinance volume has been falling for the past month as rate...

Tiffany’s quarterly earnings trounce estimates, sending shares soaring

Tiffany’s first-quarter results beat analysts’ estimates on Wednesday, with strong sales of its high-end jewelry in the Americas and Asia-Pacific regions helping the company raise its annual sales and profit forecasts. Tiffany’s shares rose nearly 14 percent to a record high of $116.76 before the bell. The stock has gained 6.3 percent so far this year, outperforming the broader S...