• Gilead's CEO is leaving by the end of the year, and the biotech giant still hasn't picked a replacement. Wall Street has a few ideas

    24 days ago - By Business Insider

    Gilead CEO John Milligan said in July that he'll step down by the end of the year.
    Four months later, the biotech company still hasn't announced his replacement.
    According to RBC Capital Markets analyst Brian Abrahams, here's who could replace Milligan.
    It's been four months since Gilead Sciences CEO John Milligan said he'd be stepping down from the role at the end of the year.
    And so far, it's not clear who will pick up the torch after he departs. Gilead is known for its HIV and hepatitis C medications , and in 2017 it acquired drugmaker Kite Pharma, launching it into a cutting-edge area...
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  • Hedge funds suffer worst month in nearly three years in October and are now down for the year

    Hedge funds suffer worst month in nearly three years in October and are now down for the year

    24 days ago - By CNBC

    October saw hedge funds notch their worst collective monthly performance since January 2016, according to industry benchmark Preqin
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  • US mortgage rates fall: 30-year at 4.81 percent

    24 days ago - By Chron

    WASHINGTON - U.S. long-term mortgage rates recorded the biggest drop in nearly four years this week, but remain much higher than they were a year ago.
    Mortgage giant Freddie Mac said Wednesday that the average rate on the benchmark 30-year, fixed-rate mortgage fell to 4.81 percent this week, down from 4.94 percent a week earlier. It was the biggest weekly drop since January 2015. But the 30-year rate was still up from 3.92 percent a year ago.
    The rate on 15-year, fixed-rate loans fell to 4.24 percent from 4.36 percent a week ago. The rate stood at 3.32 percent a year ago. The average rate...
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  • Atlanta Fed leaves U.S. fourth-quarter GDP growth view at 2.5 percent

    24 days ago - By Reuters

    The U.S. economy is expanding at a 2.5 percent annualized rate in the fourth quarter, based on data on durable goods orders and home resales in October, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday.
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  • Comments on October Existing Home Sales

    Comments on October Existing Home Sales

    24 days ago - By Calculated Risk

    Earlier: NAR: Existing-Home Sales Increased to 5.22 million in October
    Two key points:
    1) The key for the housing - and the overall economy - is new home sales, single family housing starts and overall residential investment. Overall this is a reasonable level for existing home sales, and the recent weakness is no surprise given the increase in mortgage rates.
    2) Inventory is still low, but was up 2.8% year-over-year in October. This was the third consecutive year-over-year increase in inventory, and the largest YoY increase since late 2014.
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  • Investors are fleeing active funds in the worst month for managers in nearly 2 years

    Investors are fleeing active funds in the worst month for managers in nearly 2 years

    24 days ago - By Business Insider

    Active funds saw $46 billion in outflows in October, the worst month since December 2016, according to new Morningstar data.
    Passive funds, meanwhile, brought in $16.9 billion last month.
    Actively-managed funds continue to suffer significant capital outflows, according to a new report on US mutual funds and exchange-traded funds from Morningstar.
    Funds that rely on stock-pickers saw $46 billion of outflows in October - their worst month since December 2016. Active funds have suffered outflows for years as individual investors turn to cheaper, and often better-performing, passive...
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  • Existing Home Sales Slump Most Since 2014

    Existing Home Sales Slump Most Since 2014

    24 days ago - By ETF Daily News

    From Tyler Durden : Despite a modestly better than expected 1.4% MoM rise , existing home sales slumped 5.1% year-over-year - the biggest drop since 2014.
    A blip higher in SAAR...
    Regionally, The West is suffering the most...
    Existing-home sales in the Northeast increased 1.5% to an annual rate of 690,000, 6.8% below a year ago. The median price in the Northeast was $280,900, up 3.0% from October 2017.
    In the Midwest, existing-home sales declined 0.8% from last month to an annual rate of 1.27 million in October, down 3.1% from a year ago. The median price in the Midwest was $197,000, up...
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  • ‘Call of Duty: Black Ops 4' Becomes the Best-Selling Video Game of 2018 In 1 Month. It Won't Last

    24 days ago - By Fortune

    Activision-Blizzard is giving investors a strong reminder that even though the Call of Duty franchise is 15 years old, its popularity with players is showing no signs of stopping.
    Call of Duty: Black Ops 4 was October's best-selling game, automatically vaulting to the top of the year to date sales charts as well, according to The NPD Group. That came hand in hand with the best October sales since the organization began tracking the industry in 1995. Gamers last month spend $1.55 billion on hardware, software and accessories. (The previous record was $1.36 billion in 2008.) Black Ops 4...
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  • Oil rebounds after previous session's slide, but glut worries persist

    24 days ago - By Reuters

    Oil prices rose more than 1 percent on Wednesday, recovering from the lowest levels in months, after U.S. government data showed strong demand for gasoline and diesel, but gains were limited by concern over rising global crude supply.
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  • US home sales rose 1.4 percent in October, breaking six-month losing streak though still down from year ago

    24 days ago - By Chron

    WASHINGTON - US home sales rose 1.4 percent in October, breaking six-month losing streak though still down from year ago.
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  • 10 tax breaks around the world that you can't get in the US

    10 tax breaks around the world that you can't get in the US

    24 days ago - By Business Insider

    US citizens receive a variety of tax breaks and tax incentives.
    But, there are still many tax cuts, breaks, and incentives that citizens in other countries receive that Americans don't.
    These tax cuts include corporate tax breaks, tax-free incomes, and business incentives.
    Taxes in the US can be complicated, so it's not surprising that the US has some of the highest rates of individuals looking to outside sources to complete their tax forms. According to a testimony before the Senate Finance Committee, 90% of Americans seek outside software and tax professionals to complete their...
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  • Rental rates jump in September, fueled by strong economy

    24 days ago - By Inman

    Nationwide, the cost of renting a single-family home grew by 3.2 percent in September, to an average of $1,420 a month, up from a year ago.
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  • NAR: Existing-Home Sales Increased to 5.22 million in October

    NAR: Existing-Home Sales Increased to 5.22 million in October

    24 days ago - By Calculated Risk

    From the NAR: Existing-Home Sales Increase for the First Time in Six Months
    Existing-home sales increased in October after six straight months of decreases, according to the National Association of Realtors®. Three of four major U.S. regions saw gains in sales activity last month.
    Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.4 percent from September to a seasonally adjusted rate of 5.22 million in October. Sales are now down 5.1 percent from a year ago .
    ...
    Total housing inventory at the end...
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  • How Did Chinese Wireless Carriers Fare In October?

    24 days ago - By Forbes

    The Chinese wireless market had a relatively mixed October, with the three major carriers together adding just 7.4 million subscribers, which is significantly lower compared to previous months.
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  • Existing home sales up in October, ending 6-month slide: NAR

    24 days ago - By Inman

    Existing home sales ended a six-month skid in October, climbing 1.4 percent from September. Despite the monthly gain, sales were still down 5.1 percent year over year.
    Read more ...