Morgan Stanley Wealth Management clients now have a new way to manage their cash, with the launch of the asset manager’s CashPlus account. It is directed at the firm’s existing wealth management clients, who can open an account with their advisor or online. The new accounts help clients with their cash management needs, according to a Morgan Stanley executive, and also enable financial advisors to give more comprehensive advice based on their clients’ financial situation. The CashPlus accounts c

Salesforce CEO Marc Benioff, whose known for badgering tech executives to be more civic-minded, said Thursday that over 300 companies have joined his latest initiative to plant one trillion trees by the end of the decade. “Nobody’s against trees,” he said in an interview with “Squawk on the Street” co-host Sara Eisen from the World Economic Forum in Davos, Switzerland. 1t.org launched at the World Economic Forum on Tuesday to provide governmental and corporate support to the Trillion Trees Campa

Barclays is betting “change is afoot” at Victoria’s Secret’s parent company L Brands. The investment bank on Thursday upgraded L Brands shares to overweight from underweight, and gave the retailer’s stock a new price target of $30, double its previous target of $15. L Brands shares were recently up more than 4%, trading around $20.60. L Brands in January said its holiday sales shrunk, leading the company to cut its earnings outlook for the fourth quarter. That news came on the heels of L Brands

Procter & Gamble said Thursday that it is monitoring the spread of the Wuhan coronavirus as the World Health Organization weighs whether to call the virus a global health emergency. The global consumer giant, which owns brands such as Vicks and Pampers, counts China as one of its two largest markets, along with the United States. The virus was first diagnosed less than a month ago and has already killed at least 17 people in China. Roughly 650 cases of the virus have been reported in China, and

Overall, Wall Street’s first take on Virgin Galactic has been an endorsement to buy. Vanguard Group bought more than $90 million worth of Virgin Galactic stock across several index funds, while exchange-traded funds (ETFs) from Charles Schwab and BlackRock each took small positions. Virgin Galactic shares have been prone to large swings in either direction since its debut, a tendency which is typical of a small cap stock. But since the beginning of the year trading volume in Virgin Galactic has

Billionaire hedge fund manager Seth Klarman defended value investing, saying in a letter to clients that several factors, including the proliferation of passive investing, have created market mispricings that will soon lead to a payoff for the long underperforming strategy. Klarman is widely seen as following in the footsteps of those men, often being called “the next Warren Buffett” or “the Oracle of Boston,” a riff on a common nickname for Buffett. Used copies of his 1991 book “Margin of Safet

Investors are less concerned about a recession than last year, says UBS Private Wealth’s McCartneyJack Ablin, Cresset Capital, and Alli McCartney, UBS Private Wealth Management, joins ‘The Exchange’ to discuss the state of the markets.

Airbus Americas CEO Jeff Knittel on airline risk management and growthAirbus Americas chairman and CEO Jeff Knittel joins “Squawk Alley” via phone to discuss the company’s new venture and growth.

Citi’s “normalized earnings yield gap analysis” showed a near 90% chance of market gains in the next 12 months, according to the bank’s chief U.S. equity strategist, Tobias Levkovich. He contended the widely watched S&P 500 price-to-forward-earnings ratio could be skewed by low rates due to global central banks’ quantitative easing measures. “We do not see the pent-up demand that would generate a new S&P 500 or Nasdaq bubble either.” The analysis showed current market valuation is between one an

Western Digital — Shares of the chip maker rose nearly 4% after Morgan Stanley upgraded its stock to an overweight rating. Boeing — The aerospace giant’s stock climbed as much as 2% on high trading volume, rebounding after three consecutive down days. Travelers — Shares of Travelers plunged nearly 5% to become the worst performer in the 30-stock Dow Jones Industrial Average after the insurance company reported disappointing quarterly results. The company said its net premiums written, an importa

He started the human resources technology company in 2005 and has grown it to a stock market valuation over $40 billion. In particular, machine learning and the blockchain. “Employees can go from company to company and carry credentials with them in a private network. The WorkDay CEO is not alone in focusing on this opportunity. Its CEO has claimed that the predictive technology works with up to 95% accuracy.

Jim Lehrer, of the PBS Newshour, speaks to the audience before moderating the first presidential debate between US President Barack Obama and Republican challenger Mitt Romney in Denver ,Colorado on October 3, 2012. Jim Lehrer, co-host and later host of the nightly PBS “NewsHour” that for decades offered a thoughtful take on current events, has died, PBS said Thursday. Dan Rather said “few approached their work with more equanimity and integrity than Jim Lehrer.” After MacNeil bowed out in 1995,

“She has been the spokesperson that we have needed,” Benioff said in a “Squawk Alley” interview from the World Economic Forum in Davos, Switzerland. The 17-year-old Thunberg has become a leading voice on climate change over the last 18 months, beginning with her protest outside Swedish parliament in 2018 that gained widespread attention. Thunberg also attended this week’s World Economic Forum, which had a focus on the intensifying climate crisis. Trump has not only criticized Thunberg’s climate

The Senate impeachment trial of President Donald Trump is scheduled to resume Thursday as Democratic House managers press their case for the president’s conviction and removal from office. Lead House impeachment manager Adam Schiff on Wednesday delivered a sweeping overview of Trump’s alleged abuses of power and attempts to obstruct Congress. In their presentation, House Democrats are seeking to win approval to call witnesses and introduce documents. The House impeachment inquiry was triggered b

Netflix stock rose about 5% Thursday in intraday trading, days after a mixed fourth-quarter earnings report. On Tuesday, Netflix reported fourth-quarter earnings that saw the company beat on the top and bottom lines for the quarter, but gave disappointing guidance for the first quarter of 2020. The stock climbed as much as 2.3% in after-hours trading on Tuesday, then fell about 2% on Wednesday. Tuesday’s earnings report was Netflix’s first since streaming competition has picked up. Despite the d

Israeli Prime Minister Benjamin Netanyahu delivers a speech during the Fifth World Holocaust Forum at the Yad Vashem Holocaust memorial museum in Jerusalem on January 23, 2020. U.S. President Donald Trump has invited Israeli Prime Minister Benjamin Netanyahu and his election rival Benny Gantz to Washington next week to discuss the White House’s peace plan, Vice President Mike Pence said on Thursday. “President Trump asked me to extend an invitation to Prime Minister Netanyahu to come to the Whit

Investor Bill Miller came back with a bang in 2019, riding the stock market’s relentless rally to record highs. Miller’s firm, Miller Value Partners, posted a return of 119.5% last year net of fees, he told investors in a Jan. 15 letter. Those returns also blew the broader market’s gains out of the water. “Few, if any, predicted a strong stock market given how bad the fourth quarter [2018] returns were. The result was the best stock market in years,” Miller wrote.

Corporate America is awash in junk debt, and the situation could deteriorate substantially in the next five years as a record amount of issuance comes due. Moody’s Investors Service warned Thursday that default risk is on the rise for the nearly $1.2 trillion of speculative-grade loans, bonds and various related instruments maturing from 2020-24. That total is a new record for maturities coming due over a five-year period, up 14% from 2019. Moody’s also warned that a swath of investment-grade co

Home DNA-testing company 23andMe is laying off about 100 people, or 14% of its staff, on Thursday, in the wake of declining sales. The layoffs primarily cover the operations teams, which were focused on the company’s growth and scaling efforts. CEO Anne Wojcicki told CNBC she’s been “surprised” to see the market starting to turn. Fears about people’s DNA ending up in the wrong hands might have been heightened in the aftermath of the Golden State Killer case. She said the company hired a new chie

The U.S. government announced Thursday that former Wells Fargo CEO John Stumpf has been banned from ever working at a bank again and will pay $17.5 million for scandals in which millions of fake accounts were set up to meet sales quotas. The notice from the Office of the Comptroller of the Currency said the regulator plans to target other individuals, including former executives, for their role in the scandals. “The actions announced by the OCC today reinforce the agency’s expectations that mana