Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
Shares of contract electronics maker Jabil fell sharply on Tuesday after the company's CEO said he does not see margins improving until fiscal year 2021.
"We assume that from fiscal 2019 to fiscal 2021, we'll get no expansion, no leverage of margin," said CEO Mark Mondello on a post-earnings conference call on Tuesday. He noted the company expects to increase spending to boost overall growth, which will result in a lack of margin expansion.
The comment sent the stock down 9.5 percent, on track for its worst day since March 17, 2016, when it dropped 10.6 percent.
Mondello's comments were enough to negate Jabil's strong quarterly results. The company on Tuesday reported adjusted fiscal fourth quarter earnings of 70 cents per share on revenue of $5.772 billion. Analysts polled by Reuters expected a profit of 68 cents a shares on sales of $5.427 billion.
Jabil also faces hurdles from the ongoing trade spat between China and the United States because, like most contract manufacturers, they make most of their equipment in China and sell to clients in the U.S. Mondello said the company is well-positioned if tariff issues end with some 'reasonable resolution' over time. In fiscal 2017, it earned 21 percent of its revenue from China.
Prior to Tuesday's drop, the stock was up more than 13 percent year to date; it remains up 4.2 percent in that time period.