CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Amazon also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has...Retailread more
The news comes after eBay announced a strategic portfolio review on March 1.The Faber Reportread more
If the S&P 500 climbs another 4%, it will have doubled the peak reached in the previous bull market, Michael Santoli notes.Trading Nationread more
Ascending triangle patterns have been appearing across the stock market, and they tend to be precursors to higher prices, says Miller Tabak's Matt Maley.Trading Nationread more
Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
Shares of beauty and wellness products company Nu Skin tanked on Wednesday after the company said China's crackdown on health products is weighing on sales.Investingread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
Shake Shack founder Danny Meyer is defending his restaurant group's push into cashless transactions, saying in a blog post, "we're unaware of any federal law that requires private businesses to accept [cash]."
Meyer owns Union Square Hospitality Group, which faced criticism after testing cashless operations at select restaurants. Shake Shack was founded by both Meyer and Union Square Hospitality.
"We know that some have raised concerns about the socioeconomic implications of operating a cashless business," Meyer said in the post. "By not accepting cash, a restaurant may be excluding prospective guests who do not have a bank account. And we might be inconveniencing guests who simply don't have their credit/debit on them at the time. That's certainly not our aim."
Meyer said the company is sticking with the shift for safety considerations and improved efficiency for customers. It's a notable stamp of approval for the digital technology that has been slowly gaining traction in the U.S.
Digital payments have proven popular in China and other Asian countries where payment-enabled mobile phones leapfrogged over traditional credit and debit cards. A large-scale rollout of cashless locations for Union Square Hospitality could expedite the adoption.
Meyer has a nearly 2 percent stake in Shake Shack, which has previously tested going cashless at one location. Union Square Hospitality declined to comment on the burger chain.
Read Meyer's full post on why Union Square is committed to cashless.
— CNBC's Sarah Whitten contributed to this report.