The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
The New York City police officer who used a chokehold on Eric Garner in an encounter that ended with Garner's death has been fired, New York City Police Commissioner James...Politicsread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions in its benchmark rate.Marketsread more
"I think if yields roll over and start slipping, we may see renewed pressure on stocks," UBS' Art Cashin says.Marketsread more
These are the stocks posting the largest moves midday.Market Insiderread more
Skechers stock rocketed 15.2 percent higher on Friday after the shoemaker gave strong profit guidance for the quarter ahead while reporting better-than-expected fourth-quarter earnings Thursday evening.
"2018 was a year of record sales—our first fourth quarter of over a billion dollars and, combined with three previous record quarters, a new annual sales record of $4.64 billion," David Weinberg, Skechers chief operating officer, said in a statement.
Skechers provided a first quarter 2019 earnings forecast of 70 cents a share to 75 cents a share, well above Wall Street's expectation of 63 cents a share according to FactSet. Additionally, Skechers reported fourth-quarter earnings of 31 cents a share, above analyst estimates of 23 cents a share.
"Impressive cost control leads to impressive incremental margin," Cowen said of Skechers results.
Skechers had record sales of $1.08 billion in the fourth quarter, driven in part by an 18.4 percent increase in international wholesale sales.
"While the 4Q EPS upside is definitely welcome, the real takeaway should be the company's efforts to prioritize profit enhancing measures in its planning process," Evercore ISI said in a note. "It appears to us that management is adopting a much more holistic planning process to better anticipate and react to shifting demands."