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
The April 15 tax deadline is about two months away, yet that’s still plenty of time to knock a few dollars off your 2019 tax bill. The IRS declared tax season open on Jan. 27. The agency expects to receive more than 150 million individual income tax returns for the 2019 tax year. Some 15.7
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
MGM Resorts chairman and CEO Jim Murren has told the company’s board that he is stepping down, prior to his contract ending, the company announced Wednesday. He will serve in his role until a successor is appointed, it said. Murren has been CEO since 2008, and he has been with the casino operator since 1998.
DBS Group Holdings in the central business district of Singapore. Nicky Loh | Bloomberg | Getty Images The ongoing spread of a new coronavirus disease, recently named COVID-19, could hit the revenue of Southeast Asia’s largest bank this year, its chief executive said on Thursday. Piyush Gupta, the CEO of Singaporean bank DBS, said the
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
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 —
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,
Goldman Sachs CEO David Solomon said that the stock market doesn’t yet care about Bernie Sanders’ surging campaign to become the Democratic presidential nominee. “Look at the markets,” Solomon told CNBC’s Deirdre Bosa on Wednesday. “The markets at the moment don’t care about any of this, because it’s too early. There’s also a huge difference
Your ex-spouse can continue to cause you trouble long after the ink is dry on your divorce decree. Four out of 10 estate planners and attorneys pointed to “gray divorce” — that is, ending your marriage after age 50 — as putting a dent into boomers’ financial plans, according to a recent survey by TD
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
Carnival said Wednesday that the deadly coronavirus could dent earnings this year by as much as 65 cents per share if the cruise line is forced to suspend its operations in Asia. “While not currently planned, if the company had to suspend all of its operations in Asia through the end of April, this would
A Social Security Administration office in San Francisco. Getty Images President Donald Trump has publicly vowed to protect Social Security. Yet advocates for the program fear that his just released budget proposal would hit individuals hard when it comes to disability benefits, as it includes cuts to the tune of $71 billion, according to one
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
CNBC’s Jim Cramer on Wednesday blasted Bed Bath & Beyond‘s decision to announce disappointing same-store sales figures well ahead of its fourth-quarter earnings release. However, Cramer said investors could use the subsequent stock plunge as a buying opportunity. “I would buy it,” he added. Bed Bath & Beyond shares sank about 25% on Wednesday after
If you’re a CEO hoping to give your stock a boost over time, you may want to start mentioning “growth” and “expansion” more often on earnings calls. Shares of companies with chief executives who made liberal use of positive words to describe financials during earnings conference calls outperformed those at businesses with more reserved CEOs,
Airplane fuselages bound for Boeing’s 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. Nick Oxford | Reuters Boeing warned Wednesday that the coronavirus outbreak could hurt aircraft deliveries in the first quarter of the year, as traffic in Asia
Sandy Nurse doesn’t see why she needs to be $120,000 in debt “just for trying to improve my understanding of the world.” And so, after a decade of struggling to repay her student loans, she plans to stop trying. She hopes others will join her, too, in a national strike against the country’s outstanding student
Britain’s Prince Harry speaks at Windsor Castle in Berkshire, Britain May 6, 2019. Steve Parsons | Pool | Reuters Goldman Sachs is in discussions to feature Prince Harry as a guest speaker for its interview series “Talks at GS,” according to a person with knowledge of the situation. The Duke of Sussex will likely want
A woman wearing a mask is seen as the country is hit by an outbreak of the novel coronavirus in Shanghai, China February 10, 2020. Aly Song | Reuters This is a live blog. Please check back for updates. All times below are in Eastern time. Total confirmed cases: More than 45,000Total deaths: At least
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Shares of Bed Bath & Beyond tumbled after the retailer reported disappointing sales numbers Tuesday evening, leading Wall Street to believe a true turnaround is going to take more time than initially anticipated. The stock was on
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2020. Brendan McDermid | Reuters This is a live blog. Check back for updates. 10:31 am: How the Fed will fight the next downturn – ‘large-scale asset purchases’ Powell says Fed must use forward guidance, purchases in
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:
The global air cargo industry is unlikely to grow this year because of the challenges in the China market due to the coronavirus, a senior executive at Boeing said on Wednesday. The world’s biggest manufacturer of freighter aircraft had previously forecast air freight would grow by 1% to 2% this year due in part to
Exhausted road warriors look to airport hotels for convenience. But increasingly, those hotels want travelers to visit for reasons that go beyond ease of access. Essential needs remain constant, but a growing number of amenities, such as lavish spas and farm-to-table dining, tell of an evolving trend. Airport hotels, like Grant Hyatt at SFO, are
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
Dow Jones Industrial average flat The Dow closed flat at 29,276.34. The S&P 500 advanced 0.17% to 3,357.75. The Nasdaq Composite gained 0.11% to 9,638.94. The major averages hit intraday records before retreating from those levels. Record highs, but coronavirus worries linger Stocks hit record levels but ongoing worries around the coronavirus kept a lid
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
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
Lyft reported earnings for its fourth quarter of 2019 Tuesday that beat analyst estimates on revenue and active riders. The company also reported a lower than expected loss per share. The stock fell as much as 5% after hours, likely because the company did not give an update on its profitability timeline as Uber did
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