A visual representation of a cryptocurrency coin on display in front of the logos for Facebook and Libra. Chesnot | Getty Images Facebook has made headlines of late with its plans to create a cryptocurrency. The social media company has been forced to defend the project on Capitol Hill, amid regulatory concerns around data privacy
Vice President Joe Biden’s 1967 Corvette Singray CNBC Chevrolet’s official reveal of its eighth-generation Corvette in a splashy preview Thursday night near Los Angeles marks the culmination of a secret project that traces its roots back more than half a century. But that’s no surprise. Over the years, much of the work on the “‘Vette”
Satya Nadella speaking at the 2016 World Economic Forum in Davos, Switzerland. David A. Grogan | CNBC The age of Azure is upon us. For the first time in more than three years, Microsoft’s Intelligent Cloud reporting segment, which includes the Azure public cloud that competes with market leader Amazon Web Services, contributed more revenue
John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York, March 6, 2019. Lucas Jackson | Reuters When New York Federal Reserve President John Williams said central bankers need to “act quickly” as economic growth slows, a spokesperson said he was drawing from
CNBC’s Jim Cramer on Thursday broke down why IBM’s $34 billion price tag to buy Red Hat was worth the cost. Paying $190 a share for the open-source software, the October deal came at a 63% premium in part. Cramer argued that premium is understandable because IBM was not the only bidder. In late 2018,
A Microsoft store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell: Microsoft ticked up 1% in after-hours trading after the company’s fourth-quarter earnings beat estimates. The technology company reported adjusted earnings per share of $1.37 on revenues of $33.72 billion. Analysts had expected earnings per share of
Workers stand near Boeing 737 MAX airplanes as they sit parked at a Boeing facility adjacent to King County International Airport, known as Boeing Field, on May 31, 2019 in Seattle, Washington. David Ryder | Getty Images Boeing on Thursday said it will take a $4.9 billion charge in the second quarter due to the
A dog sits in front of the New York Stock Exchange (NYSE) during Chewy Inc.’s initial public offering (IPO) in New York, U.S., on Friday, June 14, 2019. Michael Nagle | Bloomberg | Getty Images Chewy shares rose Thursday after the pet e-tailer reported first-quarter sales climbed 45% as its loss narrowed, in line with
George Kurtz, co-founder and chief executive officer of Crowdstrike Inc., speaks during the Montgomery Summit in Santa Monica, California. Patrick T. Fallon | Bloomberg | Getty Images Shares of CrowdStrike climbed as much as 7% on Thursday after the cybersecurity company reported earnings for the first time since its IPO. Here are the results: Loss
Microsoft CEO Satya Nadella speaks at the Digital-Life-Design conference in Munich, Germany, on January 16, 2017. Tobias Hase | dpa | Getty Images Microsoft will issue its fiscal fourth-quarter earnings report after market close on Thursday. Here are the numbers to watch: Earnings: $1.21 per share, excluding certain items, as expected by analysts, according to
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Morgan Stanley‘s rich clients may have gotten surprised by their tax bills this year. The bank’s wealth management business was hit by an unexpectedly high outflow of deposits in the second
Central bankers need to act quickly and forcefully when rates are low and economic growth is slowing, New York Federal Reserve President John Williams said Thursday. The influential policymaker delivered a speech discussing what should be done when central banks are near the “zero lower bound,” or close to as low as rates can go.
On the 50th anniversary of the Apollo 11 mission to the moon, the leader of the National Aeronautics and Space Administration gave his predictions for the future of the space industry and how it could be a lucrative enterprise much sooner than most investors think. NASA Administrator Jim Bridenstine said, for example, that harvesting rare-earth
Photo by Hero Images via Getty Images Healthy couples retiring in 2019 will have to dig deep to cover medical expenses. A 65-year-old couple in good health will need $387,644 to pay for health-care costs for the remainder of their lives, according to HealthView Services, a provider of health-care cost projection software. That sum includes
As Netflix’s stock soared over the past couple years, investors and consumers wondered how to think of the company’s long-term role in the media ecosystem. The latest quarterly results should make it easier to define Netflix, but the answer may not be as ambitious as some had hoped. It’s easy to get wrapped up in
The Lotus Evija electric hypercar, manufactured by Group Lotus Plc, a unit of Zhejiang Geely Holding Group Co Ltd., sits on display following its unveiling at the Royal Horticultural Halls in London, U.K., on Tuesday, July 16, 2019. Bloomberg | Bloomberg | Getty Images It’s been 11 year since Lotus Cars introduced a new model,
Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company’s initial public offering on the floor of the New York Stock Exchange, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Morgan Stanley gave clients a bunch of earnings stock picks where the firm’s view differs from the rest
A bipartisan bill that cleared the House last week would let first-time homebuyers pay a bit less at closing if they go through homeownership counseling. Called the Housing Financial Literacy Act, the measure would apply to first-time homebuyers who take out a mortgage backed by the Federal Housing Administration. Borrowers who go through the counseling
US President Donald Trump speaks at a “Make America Great Again” rally at Minges Coliseum in Greenville, North Carolina, on July 17, 2019. Nicholas Kamm | AFP | Getty Images President Donald Trump’s allies in the business world and an army of bundlers have been courting executives across the country in an effort to help
Flood waters cover a neighbourhood street after Tropical Storm Barry passed through in Mandeville, Louisiana on July 14, 2019. SETH HERALD | AFP | Getty Images Hurricane Barry dumped more than 23 in. of rain in places as it stormed up the Mississippi River Valley from Louisiana and Alabama to Arkansas and as far north
A man smokes with the electronic tobacco heater IQOS (I quit ordinary smoking) of the tobacco company Philip Morris. Sebastian Kahnert | picture alliance | Getty Images Philip Morris International beat second-quarter earnings and revenue estimates while hiking its full-year forecast as its new tobacco products gain momentum. The tobacco giant is trying to pivot
The heat wave that has been roasting much of the U.S. in recent days is just getting warmed up, with temperatures expected to soar to dangerous levels through the weekend. Communities are preparing by offering buildings as cooling centers and asking residents to check in on relatives and neighbors. Officials also are concerned about smog,
(L-R) Actors Noah Schnapp, Caleb McLaughlin and actress Sadie Sink pose after the Stranger Things panel during day 2 of Argentina Comic Con 2018 at Costa Salguero on December 08, 2018 in Buenos Aires, Argentina. Ricardo Ceppi | Getty Images | NETFLIX Wall Street analysts were urging clients to remain calm in the wake of
Netflix Co-founder, Chairman & CEO Reed Hastings attends Q&A during Transatlantic Forum as part of Series Mania Lille Hauts de France festival on May 3, 2018 in Lille, France. Sylvain Lefevre | Getty Images Netflix shares may be getting hammered Thursday, but Bespoke Investment Group says its research shows that history is typically kind to
Market researcher James Bianco believes Wall Street is teetering closer to an earnings recession. Unless the Federal Reserve intervenes with a bigger-than-expected 50 basis point cut, he’s worried that year-over-year earnings growth rates for the second and third quarters will go even lower. “The estimates for the third quarter are somewhere just below zero. This
Reed Hastings, chief executive officer of Netflix Inc. Akio Kon | Bloomberg | Getty Images Netflix shares cratered more than 10% Thursday, a day after it posted a rare loss in domestic subscribers and a much smaller than expected gain in international users when the streaming company reported second-quarter earnings. Or, as Bernstein analyst Todd
Tim Cook, chief executive officer of Apple, Inc. Daniel Acker | Bloomberg | Getty Images Here are the biggest calls on Wall Street on Thursday: Raymond James upgraded Apple to ‘outperform’ from ‘market perform’ Raymond James upgraded the stock saying it had “conviction” in the Apple 5G iPhone. “Our call may well be early –
James Gorman, chief executive of Morgan Stanley. Qilai Shen | Bloomberg | Getty Images Morgan Stanley beat analysts’ estimates for second-quarter profit as a buoyant stock market helped two of the investment bank’s three main businesses. The bank posted earnings of $2.2 billion, or $1.23 a share, exceeding the $1.14 estimate of analysts surveyed by Refinitive.
UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth beat estimates for quarterly profit and raised its 2019 earnings forecast on Thursday, buoyed by strength in the largest U.S. health insurer’s pharmacy benefits management business and its insurance plans. The company is the first health insurer to report quarterly results after the Trump administration
Launching and advancing your career can be tough. For women it can be even more difficult, despite the strides that have been made in recent years. They still struggle with a pay gap, making just 85% of what men earned in 2018, the Pew Research Center has found. There is also still little progress being