Posts Tagged ‘Wall Street’
BOMBSHELL: Scott Thompson Tells Yahoo Board He Has Been Diagnosed With Cancer
Scott Thompson dropped a bombshell on the Yahoo board over the weekend.
The former Yahoo CEO revealed to board members that he has recently been diagnosed with thyroid cancer, which sources say contributed to his decision to resign from his position at the company, according to The Wall Street Journal.
The news comes amid rumors that Yahoo will claim cause in Thompson’s departure – citing inaccuracies on his resume – and avoid having to pay out his huge severance.
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Here’s The Real Reason Facebook’s Cofounder Is Renouncing His U.S. Citizenship
Eduardo Saverin, the billionaire cofounder of Facebook, outraged many Americans last week when he announced plans to renounce his U.S. citizenship, a move that many assumed was an effort to get out of paying taxes.
Now, Saverin’s spokesperson is attempting to pour some water on the fire by arguing that taxes really had nothing to do with this decision. Instead, it’s all about freeing up his ability to invest overseas.
“U.S. citizens are severely restricted as to what they can invest in and where they can maintain accounts,” Saverin’s spokesman Tom Goodman said, according to the Wall Street Journal. “Many foreign funds and banks won’t accept Americans. This was a financial rather than a tax motive.”
As the Journal notes, some Americans who hope to live and invest overseas like Saverin do complain about extra red tape resulting from their U.S. citizenship, though the paper also points out that “people as wealthy as Mr. Saverin tend to have an easier time untangling red tape than the average U.S. retiree living abroad.”
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Q1 Earnings Season Has BLOWN AWAY Expectations, Even Adjusted For Apple
We’re about to wrap up what was supposed to be one of the worst earnings seasons in years.
Days before Alcoa kicked off Q1 earnings season, Wall Street’s consensus called for S&P 500 earnings to fall 0.1 percent year-over-year, according to data compiled by FactSet.
But Wall Street couldn’t have been more wrong.
Of the 453 S&P 500 companies that have announced earnings so far, 72 percent have beaten analysts EPS estimates.
Overall, earnings are now on track to grow 7.3 percent year-over-year. Adjusted for the huge influence of Apple’s staggering growth rate, the earnings growth rate would be 4.9 percent.
Key Themes
- High food and energy costs are squeezing profit margins. There were 96 companies that reported revenue increases and earnings decreases. This is the highest number since Q3 2008. Many of these companies came from the consumer discretionary and consumer staples sectros.
- Emerging market demand is expected to pick up in the second half of the year.
- Weakness in the eurozone and the strengthen of the dollar against the euro will pressure sales in upcoming quarters.
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Let’s Revisit The Prescient 2009 Tech Research Note Written By A 15-Year Old Intern From Morgan Stanley
Lately, Morgan Stanley has taken a noticable lead in managing the big Wall Street tech deals. Business Insider‘s Henry Blodget recently wrote about how Morgan Stanley won the lead roll in the highly-anticipated upcoming Facebook IPO.
Indeed, Morgan has taken great strides in differentiating itself from the competition. Its top tech banker has a better “user interface,” its weatlh managers have embraced social media, and its analysts use unconventional research methods.
Click Here For Highlights From A 15-Year-Old’s Research Note >
The most unconventional piece of research was produced three years ago by a 15-year-old intern named Matt Robson.
“[W]e asked a 15 year old summer work intern, Matthew Robson, to describe how he and his friends consume media,” wrote Morgan’s Edward Hill-Wood. “Without claiming representation or statistical accuracy, his piece provides one of the clearest and most thought provoking insights we have seen. So we published it.”
Robson wrote about everything ranging from Facebook to iPhones. Some things were more prescient than others.
No one has time for full-length newspaper articles
“No teenager that I know of regularly reads a newspaper, as most do not have the time and cannot be bothered to read pages and pages of text while they could watch the news summarised on the internet or on TV.”
Source: Morgan Stanley
And no one wants to pay for newspapers
“The only newspapers that are read are tabloids and freesheets (Metro, London Lite…) mainly because of cost; teenagers are very reluctant to pay for a newspaper (hence the popularity of freesheets such as the Metro).”
Source: Morgan Stanley
Teens love Facebook
“Most teenagers are heavily active on a combination of social networking sites. Facebook is the most common, with nearly everyone with an internet connection registered and visiting >4 times a week. Facebook is popular as one can interact with friends on a wide scale.”
Source: Morgan Stanley
See the rest of the story at Business Insider
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What To Do If You Cry In Front Of Your Coworkers
We’re at the office a lot, so it’s inevitable that there will be times when we’ll lose our cool.
Even when you feel as if it’s personal, it rarely ever is and no matter how comfortable you feel with your colleagues, it’s crucial to remember that you’re still in a professional environment.
Cynthia Good, CEO of Little Pink Book — a career resource site specifically for women — said that whatever you do, “you need to keep it out of the boardroom.”
If you do happen to lose control, the next step is offering to your colleagues an explanation as to what happened. Tell them you know that it was inappropriate and try to make them understand what led up to the event.
Good said you should always bring it up first — don’t wait for your boss to come over and sit you down.
And choosing to ignore the situation is a bad idea. After all, everyone already knows about it, and now some may even think that you’re incapable of handling your responsibilities. Once you establish a reputation for yourself as “the person who cried,” it can be a long time before people start forgetting, so explaining it can speed up that process.
Furthermore, the more you bottle up emotions, the more likely you are to cry at work. Dennis Nishi at The Wall Street Journal reports that it’s “unhealthy” and will result in “emotional suppression,” which can “cloud thinking, promote job unhappiness and negatively impact work performance.”
Even worse, when someone experiences strong emotions in the office, others in the organization will start to mimic those feelings. It’s called ”emotional contagion,” Sigal Barsade, a professor of management at the University of Pennsylvania’s Wharton School, told Nishi. If you find yourself “constantly battling strong emotions at work,” it might be time for you to reconsider how well you really fit in.
Now read what you should do when your inappropriate email gets sent to the wrong person>
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