A driver pushes a dolly of boxes to load onto a FedEx delivery truck in Miami. FedEx has a lot to prove to investors over the next few quarters, according to Oppenheimer. The firm downgraded shares of FedEx to perform from outperform following the shipping company’s earnings miss and dim outlook. “With Express/Ground margins well below historical trend, we anticipate FedEx to be a ‘show me’ story for multiple quarters,” Oppenheimer analyst Scott Schneeberger said in a note to clients on Wednesda

Thomas Northcut | DigitalVision | Getty ImagesHospitals, many of which are increasingly in dire financial straits, are weighing a lucrative new opportunity: Selling patient health information to tech companies. Hospitals have access to vast amounts of people’s health information, including lab and imaging results and medication lists. This data can help software programmers train their systems to recognize patterns that in turn can lead to better care. But health systems administrators say it co

Overall, Americans have $830 billion in credit card debt as of the second quarter of 2019, a 6% jump year over year, according to the most recent report from Experian. And U.S. adults with a net worth of $100,000 or more are more likely to carry credit card debt than those with fewer assets, Bankrate said. “It doesn’t make sense to finance a fancy lifestyle with credit card debt,” Rossman said. More from Personal Finance:Here’s one way to pay less to your credit card company4 ways to avoid the o

Federated Investors’ Phil Orlando believes the S&P 500 could surge 10% and hit 3,500 by spring. But the firm’s chief equity market strategist warns the rally will likely sour by midyear. “The economy is actually starting to reaccelerate off of this trough that we put in over the last couple of months,” said Orlando. Now, we’re going to start to reaccelerate we think over the course of calendar 2020.” “We [will] end up with good election results from a fiscal policy standpoint and we end the year

But they may need to toss out their old M&A playbooks as the landscape changes, according to a new report from Bain Wednesday. Heading into 2020, executives are faced with higher valuations, competition from corporate giants names like Intel and Salesforce, and the potential of a recession, according to Bain. “Trends are shifting and they’re shifting quickly,” Adam Haller, partner with Bain & Company’s global M&A technology practice says. In 2015, half of total tech deals were to increase outrig

A small but significant group of Netflix and Disney+ users have told Bank of America they expect to cancel their Netflix subscriptions, rekindling concerns that new combatants in Wall Street’s “Streaming Wars” could hamstring current players. The bank’s survey of over 1,000 Americans showed that 6.5% of respondents using both services said they plan to terminate their Netflix accounts. Sixty-five percent of respondents said Disney+ was not a good substitute for Netflix, while 33% said it was. “O

When you normally send texts on Android, you’re using the older SMS standard. But with RCS support, you don’t rely as much on a cellular connection. Apple doesn’t yet support RCS and instead uses iMessage, which has even more features, including end-to-end encryption. But if you’re texting between RCS Android devices, you’ll get all of the new features. You need to use the Google Messages app, however, which you can download from the Google Play Store.

The House is slated to begin debates on Wednesday morning ahead of the vote to impeach President Donald Trump. The vote is expected to come between 6:30 p.m. and 7:30 p.m. Trump on Tuesday sent House Speaker Nancy Pelosi a raging, six-page letter in which he tore into the impeachment process, calling it an “illegal, partisan attempted coup.” Provided the House approves the articles of impeachment, the proceedings will move to the Republican-controlled Senate for a formal trial of the president,

U.S. builders started work on more homes and apartments last month and requested more permits to build single-family homes. The increases suggest the battered housing market is healing. After increasing just over 1% annually this year, growth in single-family housing starts will accelerate to 10% during 2020 and top 1 million new homes in 2021, the group predicts. Single-family housing starts have been improving steadily since May, and building permits, an indicator of future construction, are a

The historic vote is slated to take place sometime Wednesday evening, and the vote breakdown will almost certainly fall along party lines. 10 a.m.: Members vote on whether to approve or disapprove of the rules. 10:30 a.m.: Once the rules are approved, the House begins six hours of formal debate on the impeachment articles themselves. Like the rest of the day, its outcome is preordained — House Speaker Nancy Pelosi, D-Calif., will select the impeachment managers. 8 p.m.: Following 10 minutes of d

A driver pushes a dolly of boxes to load onto a FedEx delivery truck in Miami. FedEx has a lot to prove to investors over the next few quarters, according to Oppenheimer. The firm downgraded shares of FedEx to perform from outperform following the shipping company’s earnings miss and dim outlook. “With Express/Ground margins well below historical trend, we anticipate FedEx to be a ‘show me’ story for multiple quarters,” Oppenheimer analyst Scott Schneeberger said in a note to clients on Wednesda

An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois. Eli Lilly is well-positioned for growth in the near and long term, according to Morgan Stanley. The firm upgraded the pharmaceutical company to outperform from equal weight, saying Eli Lilly has strong prospects in its drug pipeline and its suite of diabetes drugs should see “strong and durable” growth despite rising competition. The stock was up 1.1% in premarket trading

Citi is lowering its earnings estimates on Twitter due to concerns about the social media company’s “near-term revenue outlook.” In a note to clients Wednesday, the firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on Twitter share. Citi said ongoing issues with Twitter’s Mobile App Promotion product could hit revenues. Based on these concerns, Citi lowered its fourth-quarter EPS estimate to 24 cents from 27 cents. Citi also said the stock was a “high

Oppenheimer downgraded the stock after the company’s negative earnings report on Tuesday. “F2Q20 adjusted operating profit of $684M was well short of our estimate/consensus of $900M/ $957M, respectively, driven by soft global trade/economic conditions, increased Ground segment service offering expenses (e.g. weekend delivery implementation), mix shift headwinds, competitive pricing, as well as the timing of cyberweek (F3Q20). We anticipate some of the aforementioned headwinds to abate and F2H20

A lottery player in Ohio won the $372 Mega Millions jackpot on Tuesday night, according to the lottery website. We might not learn much about the lucky player: Ohio allows lottery winners to remain anonymous if their winnings exceed a certain amount. The latest Mega Millions winner is likely still in shock: The odds of hitting the jackpot are 1 in about 302 million. “The last thing you need is people asking for handouts, or friends and family offering advice about how to claim the money,” Kurlan

The Federal Reserve will have to see a substantial change in economic conditions before making any changes to its monetary policy stance, New York Fed President John Williams said Wednesday. “Monetary policy is in a good place,” he spoke with CNBC’s Steve Liesman. “But, as we’ve proven in the past, if economic conditions shift, change in a material way … obviously we’re ready to adjust our policy views accordingly.” Last year, the central bank hiked rates four times. “With the rate cuts that we

Former Trump campaign chairman Paul Manafort is escorted into court for his arraignment in New York Supreme Court, June 27, 2019. A judge on Wednesday dismissed New York state criminal charges filed against Paul Manafort, the fallen Republican lobbyist who served for several months as President Donald Trump’s campaign chief in 2016, thwarting an effort to keep Manafort behind bars even if Trump ends up pardoning him for federal crimes. Judge Maxwell Wiley said during a hearing in Manhattan Supre

“If you think about all the positive things we’ve said and that we’re seeing, as we get into 2021, we will start lapping Amazon,” FedEx CFO Alan B. Graf Jr. said on the company’s earnings call Tuesday evening. Graf said those investments, along with “operational synergies” in Europe, will start to pay off in the company’s fiscal 2021. FedEx announced plans in August to end its ground-delivery contract with Amazon, It halted its express U.S. shipping contract with Amazon in June. The spat between

A woman holds a Peugeot car key as Fiat logo is seen behind in Ankara, Turkey on November 26, 2019. Fiat Chrysler and Peugeot maker PSA have reached a binding agreement over a roughly $50 billion merger that will reshape the global car industry. With a definitive agreement in place, France’s PSA and Italian-American Fiat Chrysler Automobiles (FCA) will now start work on how to reach a target of cutting costs by 3.7 billion euros ($4.1 billion) each year without closing factories. The firms said

British education company Pearson said on Wednesday it would sell its remaining 25% stake in publisher Penguin Random House to German partner Bertelsmann, generating net proceeds of about $675 million. The deal will end Pearson’s association with consumer publishing that stretches back nearly 50 years to 1970 when it bought the company that had published “Lady Chatterley’s Lover” a decade earlier. “For almost 50 years, Pearson has been proud to play our part in the publishing and commercial succ