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With the Federal Reserve rate-cutting cycle now underway, income investors may want to take a closer look at their portfolios. The central bank slashed the federal funds rate by a half-percentage point in September and fed funds futures prices suggest a 93% probability that rates will drop another 25 basis points in November, according to the CME FedWatch Tool . One basis point equals 0.01%. Futures point to a 74% likelihood of another quarter point cut in November. In this environment, Vanguard likes higher-quality, fixed-income assets. The money manager expects the economy to slow to below-trend growth but avoid recession, and anticipates the yield curve will revert to its typical upward-sloping angle. "Historically, when economic growth has slowed but stayed positive, higher-quality fix...

Coach and Michael Kors.Michael M. Santiago | Eduardo Parra | Europa Press | Getty ImagesA federal judge blocked Tapestry's acquisition of Capri on Thursday following a brief trial last month in New York.In her order, Judge Jennifer Rochon granted the Federal Trade Commission's motion for a preliminary injunction to block the proposed merger, which would marry America's two largest luxury houses and put six fashion brands under one company: Tapestry's Coach, Kate Spade and Stuart Weitzman with Capri's Versace, Jimmy Choo and Michael Kors. Tapestry's stock surged 10% after the order was filed while Capri's plunged about 50%.In a statement, Tapestry said it plans to appeal the order, "consistent with our obligations under the merger agreement.""Today's decision granting the FTC's request for ...

Microsoft CEO Satya Nadella speaks at an event on the company's Redmond, Washington, campus on May 20, 2024. Nadella is betting a new generation of computers with specialized artificial intelligence chips and faster performance will revive the long-running rivalry between Windows PCs and Apple Inc.'s Mac.Chona Kasinger | Bloomberg | Getty ImagesMicrosoft gave CEO Satya Nadella a pay raise for the 2024 fiscal year of more than $30 million. But his total package would have been $5.5 million higher if not for a series of cyberattacks.Nadella received $79.1 million for the fiscal year that ended on June 30, up from $48.5 million in the prior year, according to a proxy filing on Thursday. Most of his pay is in the form of stock. The board's compensation committee said Nadella asked that the cas...

Check out the companies making headlines in extended trading. Dexcom — Shares slid nearly 7%, despite the manufacturer of diabetes management devices posting a third-quarter adjusted earnings and revenue beat. Dexcom also reaffirmed full-year revenue guidance that encompassed FactSet's estimate. L3Harris Technologies — The defense stock climbed 4% after posting a third-quarter beat on both the top and bottom lines. L3Harris reported adjusted earnings of $3.34 per share on revenue of $5.29 billion, while analysts polled by LSEG had expected $3.26 per share on $5.28 billion in revenue. Capri , Tapestry — Capri shares cratered 48%, while Tapestry shares surged 12% after a judge blocked the $8.5 billion merger of two luxury goods makers. Tapestry, which owns the Coach and Kate Spade brands, ha...