Herbalife, Groupon, LendingClub and more

Herbalife distribution center in Los Angeles. Patrick T. Fallon | Bloomberg | Getty Images Check out the companies making headlines after the bell: LendingClub – Shares of the fintech company were down 1.98% in extended-hours trading after it announced plans to pay $185 million in cash and stock for Radius Bancorp, a Boston-based online bank with about $1.4 billion in assets. The company’s projected growth in 2020 is now weaker-than-expected as it seeks to become a registered bank. Groupon – Stock of the online commerce company fell 25% in extended…

Stocks take a hit after Apple warning

Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Dow Jones Industrial Average falls 165 points The slid 165.89 points, or 0.56%, close at 29,232.19. The dipped 0.29% to 3,370.29. The climbed 0.02% to 9,732.74. The major averages were under pressure for most of Tuesday’s session after a stark warning from Apple. Apple warning weighs on market Apple warned it will not meet its revenue guidance for fiscal second quarter of 2020 as the coronavirus outbreak in China hinders the tech giant’s supply chain.…

LendingClub buys Radius Bank in first fintech takeover of a bank

Lending Club banners hang on the facade of the New York Stock Exchange for it’s IPO on December 11, 2014 in New York. Don Emmert | AFP | Getty Images LendingClub, a fintech company that pioneered personal loans made online, is buying a U.S. bank to give it access to a stable and cheaper source of funding, CNBC has learned. LendingClub is paying $185 million in cash and stock for Radius Bancorp, according to documents viewed by CNBC. Radius, a Boston-based online bank with about $1.4 billion in assets, is…

Bernie Sanders bigger threat to stocks than coronavirus

Leon Cooperman Olivia Michael | CNBC Leon Cooperman thinks investors should be more worried about the long-term ramifications of a Bernie Sanders presidency for the stock market than about the coronavirus. “I look at Bernie Sanders as a bigger threat [to the stock market] than the coronavirus,” Cooperman, the billionaire investor and founder of Omega Advisors, told CNBC’s Scott Wapner on the “Halftime Report.” “I don’t have any insight into the coronavirus, but I assume, with all the great minds of the world focused on this problem, that in three or four months this…

Market too down on energy, too high on Tesla

Leon Cooperman, CEO of Omega Advisors. Adam Jeffery | CNBC Billionaire investor and founder of Omega Advisors Leon Cooperman said Tuesday that investors have become too pessimistic on the energy sector while too optimistic on individual companies like Tesla. “I would say we’re in the early stages of knocking on the stages of euphoria, but we’re not quite [fully in] euphoria,” he said. “Certain parts of the market are in euphoria like Tesla. Other parts of the market, like energy, are in pessimism.” “And so I’m trying to find things that…

Fed’s Robert Kaplan sees no changes in interest rates this year

Though he expects the U.S to experience “solid” growth this year, Dallas Federal Reserve President Robert Kaplan said interest rates should remain where they are. The central banker, in an essay released Tuesday morning, backed the wait-and-see approach that his fellow voters on the Federal Open Market Committee have adopted. Officials at the past two meetings have voted to hold the line on rates after approving three 25-basis-point cuts in 2019 as part of a “mid-cycle adjustment” aimed at stabilizing the economy. “It is my view that, based on my…

Walmart, Apple, DuPont, Medtronic & more

Take a look at some of the biggest movers in the premarket: Walmart (WMT) – The retail giant reported quarterly profit of $1.38 per share, missing estimates by 5 cents a share. Revenue also fell short of forecasts, and Walmart gave a full-year forecast that was short of the Street’s outlook. CFO Brett Biggs told CNBC the quarter started and ended strongly, and that the New Year has started also started off well. Separately, the retailer announced a 1.9% increase in its annual dividend to $2.16 per share. Apple (AAPL)…

How to protect yourself from tax scams this filing season

Tax season is in full swing — and that means it’s hunting time for scam artists hoping to rip off taxpayers. The Internal Revenue Service expects to receive around 150 million tax returns during this filing period, which began Jan. 27 and runs through April 15. Americans need to remain vigilant to guard against tax fraud, which picks up around this time of year as crooks prey on taxpayers’ anxiety and urgency to file their returns, experts said. “Attackers will target people when they know there is a topic or…

Chip stocks dive after Apple’s coronavirus warning, led by iPhone suppliers

A masked staff, right, waits two customers checking an iPad in an Apple Store in Nanjing in east China’s Jiangsu province Saturday, Feb. 01, 2020. Barcroft Media | Getty Images Apple’s suppliers and partners are getting hit hard following the iPhone maker’s revenue warning due to the coronavirus epidemic in China, underscoring fears about the financial fallout of the outbreak. Qorvo, a radio frequency chip supplier for Apple, fell nearly 3% in premarket trading on Tuesday. Credit Suisse estimates 30% of Qorvo’s revenues come from Apple. Chip company Skyworks Solutions,…

Start-up partners with BlackRock to offer investments used by the rich

Image Source | Getty Images A digital platform that offers alternative investments to the masses is attempting to broaden its appeal with a new fund created with BlackRock, the world’s biggest asset manager. For the last five years, the New York-based start-up YieldStreet has been giving its users access to a category of deals that had previously been the domain of institutions like hedge funds or billionaires’ family offices. The investments — usually private loans in the real estate, shipping, legal or art finance sectors — offer potentially higher returns…