Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
ADVERTISEMENT
What you need to know on Wall Street today
Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.
Morgan Stanley CEO James Gorman
What's going on in the fixed income, currencies, and commodities business? It's the question that has dominated earnings calls for Morgan Stanley and Goldman Sachs this week, but for very different reasons.
Goldman Sachs is also licking its wounds in equities.
In other news, BlackRock, the world's biggest asset manager, reported a 31% rise in quarterly profit helped by higher investment advisory fees and securities lending revenue. Also, it turns out y
ADVERTISEMENT
Here are the stocks millennials love more than people over 30 do, according to trading app Robinhood. And tons of people set up trading accounts just to buy Snapchat, according to TD Ameritrade.
Wall Street critic Elizabeth Warren took a picture with the famous "Fearless Girl" statue on Wall Street.
In tech, IBM revenue has fallen for 20 quarters — but it used to run its business very differently. In related news,
Intel could be down $400 million when Cloudera goes public. Verizon's CEO just said he's open to merger talks with Comcast, Disney, or CBS. 2 biggest differences between working in tech and finance
Theranos just agreed to refund 175,000 people in Arizona who took its tests. And we just got a better idea of how much drug companies rely on price hikes, and it doesn't look good.
ADVERTISEMENT
Emirates is cutting flights to the US because of Trump's travel policies.
Lastly, here are the 18 countries with the most millionaires.
The tool company Trump just visited has an unsettling relationship with its blue collar franchisees - Did anyone in the White House vet this? Donald Trump just visited the headquarters of Snap-on Inc., a Kenosha, Wisconsin maker of tools sold to auto repair shops and mechanics.
SCOTT GALLOWAY: Investing in Snap is something "no one responsible should ever do" - Scott Galloway is a marketing professor at the NYU Stern School of Business and the founder of business intelligence firm L2. Galloway stopped by Business Insider to talk about the biggest names in tech.
ADVERTISEMENT
CREDIT SUISSE: JCPenney is finally responding to the death of brick-and-mortar retail - Things have not been easy for brick-and-mortar retailers.
BlackRock CEO Larry Fink shares the 2 leaders who most inspire him — and neither comes from finance - As the chairman and CEO of BlackRock, Larry Fink is responsible for a massive $5.1 trillion in assets under management, making him one of the most influential people in global finance.
2 small firms are going to make a killing on Cardinal Health's $6.1 billion deal - Two of the usual suspects played a role in setting up Cardinal Health’s $6.1 billion acquisition of Medtronic’s medical supplies business. But two smaller firms also got in on the action.
JEFFERIES: Investors are loving Nintendo Switch's new games - Shares of Nintendo are up 5.4% this week after the company revealed an extended list of upcoming game releases for its new Switch console.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT