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Wedbush Securities’ Dan Ives praised Tesla’s announcement on Thursday morning of a new $2 billion common stock offering. “It’s a smart, strategic move,” Ives said on “Squawk Box.” “It takes any doomsday scenario around cash crunch … off the table.” Shares of Tesla, which have skyrocketed recently, were under some pressure on Thursday after the
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A screen displays the transaction volume of the 24-hour Alibaba Singles’ Day global shopping festival at the company’s headquarters in Hangzhou, China, November 12, 2019. Reuters China’s Alibaba beat analysts’ estimates for quarterly results on Thursday, driven by record sales during its annual Singles’ Day shopping blitz and demand for its cloud computing business. The e-commerce
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This is a live blog. Please check back for updates. All times below are in Beijing time. 9:40 am: United Airlines extends China cancellations until late April United Airlines on Wednesday said it would extend cancellations of its China service until at least April 24, about a month later than the carrier previously planned, as
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Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. “I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.” Munger —
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Cisco reported fiscal second-quarter results that beat analysts’ estimates on Wednesday, but investors were not impressed with the company’s continuing revenue declines, and the stock is now trading down around 4% after hours. Here are the key numbers: Earnings: 77 cents per share, excluding certain items, vs. 76 cents per share as expected by analysts,
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Harley Finkelstein, COO, Shopify Scott Mlyn | CNBC Shopify, which makes online tools for companies to sell products online, climbed 7.8% on Wednesday, hitting a new 52-week high of $593.89, after the company reported better-than-expected fourth-quarter results and gave upbeat guidance for the full year 2020. For the fourth quarter, Shopify reported earnings of 43 cents
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About 115 pages into President Trump’s proposed 2021 budget are two line items that Medicare beneficiaries might want to take note of. While the president’s proposals pertaining to Medicare are largely aimed at behind-the-scenes shifts — i.e., lowering reimbursement rates to providers and rooting out waste or fraud — the budget also includes changes that
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Ronen Tivony | Echoes Wire | Barcroft Media via Getty Images CVS Health on Wednesday reported fourth-quarter earnings and revenue that beat Wall Street’s expectations, boosted by higher sales in its pharmacy benefit management business. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
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Former Nissan Motor Chariman Carlos Ghosn leaves the Tokyo Detention House in Tokyo, Japan April 25, 2019. Issei Kato | Reuters Nissan filed a civil lawsuit against former Chairman Carlos Ghosn on Wednesday, seeking an initial amount of 10 billion Japanese yen ($90 million). The company said the suit, filed at Yokohama District Court in
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Oil and gas stocks are likely to stay beaten down unless the industry sees consolidation, CNBC’s Jim Cramer said Tuesday. The “Mad Money” host compared the current state of oil-and-gas affairs to that of the struggling shopping mall industry, which saw notable merger-and-acquisition activity on Monday. Simon Property Group announced it was buying rival Taubman
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The Facebook analyst who downgraded the stock Tuesday told CNBC he is concerned about the growth of the social media giant’s advertising business. In particular, Pivotal Research Group analyst Michael Levine said he believes a slowdown in advertising from direct-to-consumer brands could spell bad news for Facebook. Instagram and Facebook are the most popular places
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