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CNBC's Mike Santoli breaks down the aggressive buying of "sure things" and shunning of cyclical and policy risk.Trading Nationread more
The Iranian Intelligence Ministry held a briefing on Monday where they announced the alleged spies were Iranian citizens but trained by the CIA.World Newsread more
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Equifax will pay at least $575 million, and potentially as much as $700 million, to settle allegations over its massive over 2017 data breach, U.S. regulators said in a...Technologyread more
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For investors hoping rate cuts would push the market higher, Goldman Sachs said stocks can't really go anywhere from here.Marketsread more
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New rendered photos of what the Google Pixel 4 probably looks like were published over the weekend.Technologyread more
In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
While public support for President Donald Trump's tax plan , there's reason for to feel giddy about it: an estimated $2 billion in tax savings over the next two years.
That's based on a report by financial research firm Cowen & Co., which estimates Amazon will save $723 million in 2018 and $1.3 billion in 2019 under the proposed tax bill. In total, Amazon's earnings could see a 24% boost in each of the next two years, Cowen wrote in the note.
For comparison, Amazon is expected to make roughly $2.1 billion in net income this year alone, according to FactSet.
Cowen's estimate puts Amazon's effective tax rate under the new plan at 13.2 percent, which is vastly lower than the 30 percent Amazon is estimated to be paying now. It also assumes the US corporate tax rate will drop to 22 percent starting January 1, 2018, and the new tax plan to have no other major impact on US businesses, including international tax rates.
Cowen added that the new tax bill could drive up earnings for other big tech companies. Google, for example, is estimated to save $2.3 billion and $2.7 billion in each of the next two years, while Facebook could save $1.6 billion and $2 billion over the same period, according to Cowen's note.