Apple’s enormous cash pile swelled to $256.8 billion in the fiscal second quarter, up more than $10 billion from the previous quarter. That figure means Apple’s war chest is now larger than the market value of General Electric, but smaller than that of Wells Fargo. The tech giant also reported revenue that missed Street expectations on Tuesday, as iPhone shipments disappointed. The stock fell as much as 2 percent in after-hours trading, as more than 3.9 million shares changed hands. The company’

U.S. investors may be venturing into the land of overconfidence. The CBOE Volatility Index (VIX), Wall Street so-called fear gauge, hit its lowest level since February 2007 on Monday, hitting a session low of 9.90. This happened even after President Donald Trump told Bloomberg News he was “looking at” breaking up the big banks, which set off a brief bout of volatility in the stock market. The index managed to close just above 10 and is trading safely above it Wednesday. Closing below that level

Wells Fargo CEO: Going to make sure we fix everything broken Tuesday, 25 Apr 2017 | 1:26 PM ET | 01:39Efforts by Wells Fargo to move beyond its bogus accounts scandal have been set back by the loss of a big government contract. The Philadelphia City Council voted Monday to change handlers of its $2 billion payroll account, according to published reports. Instead of continuing the arrangement with Wells, the city chose to hire Citizens Bank for the next fiscal year starting in July. More than 5,0

With BLS, you have to have been paid during the survey week. He said ADP data counts as employed those workers who are on the payroll but can’t make it to work due to weather. “For BLS, you have to be on the payroll and you have to have been paid during the survey week,” said Zandi. “You saw a big decline in the BLS number and in the number of industries that were sensitive to weather. Caron said it’s conceivable that both the March government report and the ADP number are revised, and that coul

While Hillary Clinton said she believes she lost the 2016 presidential race because of meddling, she also took an opportunity to rib Donald Trump. Clinton said at the Women for Women International Luncheon in New York. Yet, when Amanpour asked whether Clinton takes personal responsibility for the loss, the former secretary of State replied, “Of course!” Clinton added: “I take absolute personal responsibility. “I’m now back to being an activist citizen and part of the resistance,” Clinton said, a

The budget resolution, which had once again become a political football amid threats of a government shutdown, includes an additional $25 billion in funding for the Defense Department. That’s about half of what the president asked for in his preliminary “skinny” budget proposal last month, but Republicans hailed the agreement as a break from an Obama-era practice of balancing changes in in defense spending with comparable funding for domestic programs. “This means that we can finally make real i

Interest rates should rise and stocks should temporarily fall this summer, said noted investor, Jeffrey Gundlach. Gundlach expects the 10-year Treasury yield to move higher, and a summer interest rate rise should “go along with a correction in the stock market.” Gundlach is the Chief Executive Officer of DoubleLine and was speaking on a “Closed-End Funds Audio Webcast” Tuesday after the market close. DoubleLine is advisor to the DoubleLine Opportunistic Credit Fund (DBL) and the DoubleLine Incom

Despite the lower-than-expected unit sales, Cook told CNBC that the iPhone 7 Plus sales were “extremely strong.” Services revenue rise 18 percent year over yearMeanwhile, Apple has invested in new content, like a Tribeca Film Festival movie, for Apple Music. It’s part of a growing source of revenue for Apple, services, which includes digital content, AppleCare, Apple Pay, licensing and other services. Apple Watch and other productsMac: Units grow 4% year-over-year, revenue pops 14% year-over-yea

U.S. government debt prices ticked higher on Tuesday after President Donald Trump tweeted “our country needs a good ‘shutdown’ in September to fix mess!” The 30-year bond yield also fell to trade around 2.982 percent. Debt yields move inversely to prices. The number is expected to come in at an annual rate of 17.2 million, compared with March’s annual rate of 16.6 million. However, General Motors announced its sales fell 5.8 percent last month, more than expected.

Wall Street also kept an eye on the Federal Reserve, with the central bank kicking off a two-day monetary policy meeting. Market expectations for a rate hike following this meeting are just 4.8 percent, according to the CME Group’s FedWatch tool. The U.S. central bank raised rates at its March meeting, pushing the overnight funds rate to a target range of 0.75 percent to 1 percent. Investors also looked ahead to a slew of economic data due later this week, including the April jobs report, which

French citizens will elect a new premier in the second round run-off vote on Sunday. U.S. President Donald Trump said he would be honored to meet North Korea leader Kim Jong-un in an interview with Bloomberg News on Monday. Meanwhile, U.S. equities closed mostly higher Monday, shaking off comments from Trump who spoke about breaking up big banks. The rally is expected to buoy European assets which will resume trading after a May Day holiday on Monday. Elsewhere, German Chancellor Angela Merkel i

Our live blog is tracking reaction after survey data revealed faltering domestic Chinese demand. We’ll bring you the latest analysis below.

“When you have a massive or sizeable adjustment on the public finances sometimes you have to fine tune it. And those adjustments or those reductions in the cuts are about 1 percent of the budget. The average fiscal deficits soared to about 10 percent of GDP (gross domestic product) in 2015 and 2016, the IMF said, adding that the deficit could fall below 1 percent in 2022. Saudi Arabia’s budget deficit shrank to 297 billion riyals ($79 billion) in 2016. That was well below a record 367 billion ga

Infosys, India’s iconic outsourcing firm, is also opening four new technology and innovation hubs across the U.S. that will train American workers in areas like cloud, artificial intelligence and big data. “It’s so good to welcome Infosys to Indiana, and to expand our growing tech ecosystem with the addition of their estimated 2,000 Hoosier jobs,” Indiana Gov. The announcement follows President Donald Trump’s “Buy American, Hire American” executive order, which called for the H-1B visa program t

The question of Man vs. Machine is one that had been applied to nearly every industry. Using the collected MMPI data, Goldberg developed a rules-based, data-driven model that provided an accurate patient diagnosis 70% of the time. Next, Goldberg gave the same MMPI scores to both experienced and inexperienced clinical psychologists and asked them to diagnose the patients. Interestingly, although the psychologists’ performance rates improved, their accuracy rate remained lower than the accuracy ra

The software start-up was generating less than $5 million in revenue at the time, but that didn’t matter. That job is now being turned over to industry veteran Steve Singh. In an exclusive interview with CNBC.com, Singh said Docker is at the forefront of a fundamental shift taking place across technology. Developers no longer have to worry about servers and storage, thanks to massive companies like Amazon and Google opening up their data centers. “In the next 10 to 15 years I see an explosion in

Investors may finally be ready to cut the cord to one of the primary lifelines of the 8-year-old bull market in stocks. While the bull run has seen dividends increase fairly well, they have not kept up with buybacks. Dividends have grown $2.9 trillion over the past decade and $1.7 trillion over the past five years, according to S&P Dow Jones Indices. “Infatuation with buybacks has ended for both companies and investors,” David Kostin, Goldman’s chief U.S. equity strategist, said in a note to cli

Median monthly pay: $6,400The good: “Phenomenal company culture, which makes employees excited about coming to work everyday. YelpMedian monthly pay: $6,400The good: “Yelp has an amazing company culture. The bad: “The work is very monotonous, which can be very hard to endure day in and day out. YahooMedian monthly pay: $6,080The good: “Interns get to work directly with the full-time employees and get a real feel of how full-timers work.” The bad: “With the Dell acquisition of EMC, there is some

Amazon and Alphabet both finished Monday trading at record highs, closing at $954.40 and $932.82, respectively. Krinsky says both will touch $1,000 in due time — but if forced to choose between his proverbial children, the technical analyst would pick Amazon. All but 10 analysts of the 45 who cover Amazon, per data available on FactSet, give Amazon a price target of $1,000 or more. Meanwhile, all but nine analysts give Alphabet a target of $1,000 or more. Amazon, meanwhile, is expected to earn $

Berkshire Hathaway CEO Warren Buffett is regularly hailed as having one of the world’s best business minds. As the globe’s second-richest person, with a net worth of $75.6 billion, Buffett can offer some sage advice on making money and being a business leader. “It is not necessary to do extraordinary things to get extraordinary results.” Buffett suggests that the best successes in the workplace can come from those who are consistent. Here, Buffett says that anyone’s reputation can quickly take a