00:57
Rest in Peace, Jack Bogle
Jack Bogle, founder of Vanguard Group and inventor of the index fund, passed away late Wednesday, January 16.
“Jack was the ultimate titan,” said TheStreet’s Jim Cramer. “He democratized investing and gave everyone a chance at investing in the progress of America. We are all indebted to him for his selfless championing of a low-cost way for people to save and he will be missed. What a gent he was,” Cramer added.
Morgan Stanley Wraps Up Bank Earnings
Morgan Stanley MS , the U.S. brokerage firm, said fourth-quarter profit from continuing operations tumbled 25% as the firm’s bond-trading division suffered along with rival Wall Street firms through turbulent financial markets, reported TheStreet’s Bradley Keoun.
Net income was $1.53 billion, the New York-based bank said Thursday in a press release. Earnings per share were 80 cents, missing the average analyst estimate of 89 cents in a FactSet survey.
Net revenue fell by 10% 10% to $8.55 billion, Morgan Stanley said.
In the press release, CEO James Gorman described the quarter as “challenging.”
06:24
Netflix’s Earnings Forecast
Are you ready for the streaming giant’s earnings?
After making headlines for hiking plan prices earlier this week, Netflix NFLX will be announcing earnings after the bell on Thursday.
TheStreet’s Eric Jhonsa already wrote up his earnings preview. You can find the five things that he’ll be covering here.
09:32
Taiwan Semiconductors is Real Money’s Stock of the Day
Taiwan Semiconductor Mfg. Co. Ltd., TSM the world’s biggest contract chipmaker and a lead supplier for Apple Inc. AAPL iPhones, posted tepid fourth quarter earnings Thursday but cautioned that near-term sales would slide the most in 10 years as global smartphone markets continue to slow. reported TheStreet’s Martin Baccardax.
“Moving into first quarter 2019, we anticipate our business will be dampened by the overall weakening of the macroeconomic outlook, mobile product seasonality, and high levels of inventory in the semiconductor supply chain,” said CFO Lora Ho, with chairman Mark Liu telling reporters that drop in high-end smartphone demand “came a little bit sudden”, adding that the inventory in the supply chain is quite a lot.”
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