Personal Finance

Cramer: Foot Locker’s stellar earnings show the ‘mall is still not dead’ yet

CNBC's Jim Cramer says there's still some life left for brick-and-mortar retailers.

Roku shares jump after short-seller reverses call, says he doesn’t want to bet against cord-cutting

Shares of Roku spiked Friday after short-seller Citron Research said it is reversing its negative view on the maker of streaming players, given a major shift away from the traditional cable television subscription model.

Herbalife shares plunge after Carl Icahn lowers his stake in the company

Carl Icahn is reducing his position in Herbalife.

Five facts most people don’t know about tax audits

Like a root canal or cross-country move, the prospect of having your tax return audited makes most people panic. “Nearly everyone has an extreme phobia about IRS audits,” said Brian Stoner, a CPA in Burbank, California. “The only exceptions are those who have been audited, and the audit went well.” Generally, the IRS can examine returns that you’ve filed in the last three years, but it can dig even further back for substantial errors. You may need to provide copies of documents to substantiate the income, credits and deductions you claimed, including receipts, bills and canceled checks. Here are five things you may not know about how the IRS chooses its targets.

PayPal upgraded by Stifel because of its addition of new financial services

Stifel raises its rating to buy from hold for PayPal shares.

Samsonite slides for a 2nd day after a short-seller attack, but some analysts are unfazed

Shares in Samsonite plunged for a second straight day after a short seller accused it of questionable accounting practices and poor corporate governance.

Opening Bell 3.25.18

Trump signs the biggest rollback of bank rules since the financial crisis [CNBC] President Donald Trump signed the biggest rollback of bank regulations since the global financial crisis into law Thursday. The measure designed to ease rules on all but the largest banks passed both chambers of Congress with bipartisan support. Backers say the legislation will lift burdens unnecessarily put on small and medium-sized lenders by the Dodd-Frank financial reform act and boost economic growth. Amazon’s Alexa Eavesdropped and Shared the Conversation [Bloomberg] The tech company responded Wednesday to a KIRO 7 news report that the pair got a phone call recently from the acquaintance, one of the husband’s employees, saying “unplug your Alexa devices right now. You’re being hacked.” The Portland coupl...

One Bank Discovers A ‘Staggering’ Stat Amid Italian Bond Selloff

Yeah, so over the weekend, in a kind of rambling piece penned while attempting to block out the noise from a literal outdoor aerobics class that convened around me unexpectedly (I sometimes write from a picnic table at a pavilion down by a local pier and unbeknownst to me, one local fitness instructor has decided that this tourist season, she’s going to commandeer that pavilion for her classes, presumably because it has a nice ocean view), I talked about the Italian “problem” in the context of ECB CSPP. You can read that linked post for yourself, so I won’t rehash the whole thing, but one of the points I made was that given the representation of Italian credits in € IG and € HY, and given the fact that ECB corporate bond purchases have served to prevent the market from pricing in credit ri...

Market Calls Trump’s Auto Tariff Bluff

Donald Trump’s feigned unpredictability has become the most predictable aspect of his administration. The president’s latest gambit is a threat of major tariffs against foreign car manufacturers, after he directed Commerce Secretary Wilbur Ross Wednesday to conduct a Section 232 investigation into whether foreign competition in the auto sector represents a threat to national security risk. The market has shrugged off the news, with Toyota stock falling less than 2% during trading Thursday, and other foreign car makers like BMW, Hyundai, and Daimler have all paired back losses since the announcement Wednesday afternoon. If investors were taking the president seriously, one would expect a much larger reaction, given that Toyota, for instance, sells more cars in North America than even its th...

Big banks get green light to make short-term, small dollar loans

Consumers who rely on payday loans to fill their budget gaps may have a new option to turn to: traditional banks. National banks just received the go-ahead to serve that market from their regulator, the Office of the Comptroller of the Currency. On Wednesday, Comptroller of the Currency Joseph Otting called for national banks and federal savings associations to step into the short-term, small-dollar installment loan market. These loans typically range from $300 to $5,000, according to the regulator. And that adds up to about $90 billion in loans taken out every year by millions of U.S. consumers. “Consumers should have more choices that are safe and affordable, and banks should be part of that solution,” Otting said in a statement. Letting banks offer these kinds of loans will ...

Your neighborhood bank may now offer short-term, small dollar loans

Consumers who rely on payday loans to fill their budget gaps may have a new option to turn to: traditional banks. National banks just received the go-ahead to serve that market from their regulator, the Office of the Comptroller of the Currency. On Wednesday, Comptroller of the Currency Joseph Otting called for national banks and federal savings associations to step into the short-term, small-dollar installment loan market. These loans typically range from $300 to $5,000, according to the regulator. And that adds up to about $90 billion in loans taken out every year by millions of U.S. consumers. “Consumers should have more choices that are safe and affordable, and banks should be part of that solution,” Otting said in a statement. Letting banks offer these kinds of loans will ...

Analyst: Shake Shack Is Doing Well For Itself, But Maybe Just A Little Too Well…Like Seriously, It’s Just Burgers

By m01229 from USA (Shake Shack burger and fries) [CC BY 2.0], via Wikimedia Commons Don’t look now but Shake Shack has been one of the hottest stocks of early 2019, growing 32.72% since the beginning of the year. What’s not to love about Shake Shack? It’s to Steak & Shake what Chik-Fil-A is to KFC, but without the intrinsic homophobia. So it makes you wonder: is Shake Shack doing a little too well for itself? After all, it’s not In N’ Out. Longbow Research suggests that prospective Shake Shack Investors wait till the stock takes a little dip before they buy any shares in the hot stock. Specifically, they downgraded their target purchase price from $54 to $49 after Shake Shack’s stock price eclipsed their original target price. Longbow still remains opportunistic about a potential decl...