The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Closely followed market watcher Dennis Gartman says billionaire Boone Pickens' prediction that the bottom is in for oil is off base.
"It's a supply circumstance. You can see it in the term structure of the futures market on Friday, when you had a strong rally, the back months led the way up," Gartman told CNBC's "Fast Money " traders on Monday. "That's not how bull markets function, that's how bear markets function, and I think Mr. Pickens, a hero of mine, is wrong."
Pickens, who built Mesa Petroleum into a powerhouse and founded BP Capital Management, told CNBC's "Squawk Box" on Monday that oil would be trading at $52 by year's end.
"Once you hit bottom which I think was $26.15 on WTI, you're going to double within 12 months by historical information," Pickens said. "So here you are at $30 and I think you'll be at $52 by the end of the year."
On Tuesday, West Texas Intermediate crude fell to around $30 a barrel. Oil is now down nearly 20 percent this year.
The hole in Pickens' argument, according to Gartman, is the assumption that crude oil producers are ready to cut production. Russia, Iran, Saudi Arabia and Venezuela, to name a few, are still pumping at record levels, but for different reasons.
"You hear talk about the Russians wanting to reduce supply. They can't possibly because a good three-quarters of where they produce their oil is in very cold areas in Siberia. They don't have those pipes insulated, they have to continue to pump crude oil through there," Gartman said. "The Iranians and the Saudis hate each other. They have, for lack of a better term, a war going on — a gas price war. They're not going to let go."
The most important incentive to many of these countries is free cash flow, Gartman said.
"When you need cash flow, you produce and you don't really care where the end price is. You keep producing it."
In the longer term, Gartman sees oil in a $27-$47 range with many of the volatile swings behind it.
"The bear market has not ended in oil," said Gartman. "If we start to go sideways for four, five months, companies will become profitable again at these levels."