When Laura Nadal attempted to use the IRS Get My Payment tool to track her stimulus check, she was met with a series of error messages. After multiple attempts over two days to track her payment, she’s still unable to and doesn’t understand why. The tool keeps telling her that the information she inputs does
Month: April 2020
Investor Peter Boockvar anticipates another 20% pullback could hit the market. The Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Thursday that the coronavirus’ economic fallout is trapping the S&P 500 in a trading range. “A lot of the bad news that we’re seeing now in terms of the numbers were priced
The world’s biggest asset manager BlackRock saw the capital it manages fall by almost $1 trillion in the first quarter as investors pulled money out of its marquee funds amid the most damaging stock market selloff in more than a decade. The company, a huge figure on global financial markets, reported a 23% drop in quarterly
A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018. Stephen Lam | Reuters Gilead Sciences shares surged by more than 15% in after-hours trading Thursday after details leaked of a closely watched clinical trial of the company’s antiviral drug Remdesivir appeared to show promising results in treating Covid-19. The University
Jonathan Nackstrand | Getty Images For Americans sheltering at home, life, as they once knew it, is on hold. Because of the global pandemic, weddings and graduations are postponed, while upcoming conferences, concerts, sporting events and vacations are all canceled. That has left nearly 4 in 10 adults — or 59 million people — with out-of-pocket costs,
eclipse_images | E+ | Getty Images If you can’t beat the crypto crowd, it might be time to join them, experts say. Virtual currency and its underlying technology, blockchain, are here to stay – and that means both will play some role in investors’ lives. “It’s actually very hard to decouple blockchain and bitcoin,” said
CNBC’s Jim Cramer on Wednesday made a case for investors to choose individual stock picking over index funds going through market turmoil. The “Mad Money” host laid out a “shelter-in-place” list of companies that he projects can cut through the global economic challenges set off by the coronavirus pandemic. “For years, lots of very smart
The coronavirus pandemic has disrupted life for communities around the world and will continue to do so for the foreseeable future, with experts suggesting that social distancing measures will be a necessary part of confronting the pandemic for several more months if not years. For students setting their sights on a college education, life uncertainly
Pedestrians walk past a J.P. Morgan Chase bank branch. Alex Tsai | SOPA Images | Getty Images U.S. banks have a huge opportunity to emerge from the coronavirus as “heroes” and “good guys,” a fund manager told CNBC on Wednesday. Speaking to CNBC’s “Street Signs Europe,” Nick Ford, co-manager of the U.S. Opportunities Fund and
Morgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations and warned that a sole bright spot for the industry, robust trading results, may prove to be fleeting. The bank said in a release that earnings dropped 30% to $1.7 billion, or $1.01 a share, compared with the $1.14 estimate of analysts surveyed by Refinitiv. Companywide
Getty Images Sales of new vehicles to U.S. consumers declined less than expected at the beginning April despite the coronavirus outbreak and state orders keeping most dealer showrooms closed across the country, according to J.D. Power. After U.S. auto plants closed and most states enacted “stay-at-home” or “shelter-in-place” orders last month, J.D. Power expected year-over-year sales
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It was supposed to be one of the largest IPOs of the year, but WeWork was plunged into crisis after investors failed to buy into its valuation of $47bn or promises of ‘elevating the world’s consciousness’. FT property correspondent Judith Evans looks at where this now leaves investors ► Check out our Community tab for
June 16 — Linus Torvalds, who is known for developing the Linux kernel, talks to Bloomberg about his first line of code.
During Facebook CEO Mark Zuckerberg’s testimony to Congress, not all of the questions lawmakers asked him made sense.
Damir Khabirov | iStock | Getty Images Some Americans who are eagerly awaiting their coronavirus stimulus payments may be in for an unwelcome surprise: less money than they had expected. News that $1,200 payments are coming to individuals and $2,400 for couples has made headlines since Congress passed the CARES Act in March. Dependents are
Our brains are wired to look for danger and react quickly to an approaching attack; however, this most recent threat is invisible, but no less distressing to our primitive brains. Plummeting stock prices are sending some investors over the edge, leading to irrational behavior that has dire long-term financial repercussions. In his book, “Your Money
Alex Gorsky, Chairman and CEO of Johnson & Johnson, rings the opening bell to celebrate the 75th anniversary of his company’s listing at the New York Stock Exchange, September 17, 2019. Brendan McDermid | Reuters Johnson & Johnson surprised investors with a modest dividend increase of 6.3%, followed by Procter & Gamble, which raised its
Editor’s note: This article has been updated with comment from the IRS. A tool launched Wednesday by the Internal Revenue Service to track Americans’ stimulus relief checks is not working for many, according to individuals who reached out to CNBC Make It. The Get My Payment tool is meant to give those eligible for a
Earnings season may look ugly, but Crossmark’s Global Investments’ Victoria Fernandez isn’t getting discouraged. She believes there are opportunities in the coronavirus battered market. “We’ve seen some already. If you look at some of the health care names — UnitedHealth gave a good report,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Wednesday.
Bank of America said Wednesday that first-quarter profit slumped 45% as the company set aside $3.6 billion for loan-loss reserves because of the coronavirus pandemic. The bank posted profit of $4.01 billion, or 40 cents a share, compared with the 46 cent estimate of analysts surveyed by Refinitiv. Revenue of $22.8 billion essentially matched expectations, and
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond reported Wednesday fiscal fourth-quarter results that topped analysts’ estimates, but warned it could not make predictions for 2020 due to the coronavirus pandemic. The company said that despite widespread, temporary store closures, it still
Hero Images | Getty Images In an uncertain period, money may be the first thing to wobble. Over the last few weeks, 16 million filed for unemployment. Many more are frightened about job security. It’s an excellent time to strive for some peace of mind by smoothing out unpredictability. To make matters worse, unexpected expenses
U.S. banks are not hesitating to set aside billions of dollars in case of coronavirus-driven loan losses because it allows them to mask substantial increases in quarterly trading revenue, Mohamed El-Erian said Wednesday. The chief economic advisor at Allianz acknowledged on CNBC that banks are certainly adding to their credit reserves in an anticipation of a wave of defaults related to the
In the last month, amid the spread of the COVID-19 pandemic in the U.S., 60% of employers have reduced job openings, with almost 25% of employers closing all of their postings, according to job searching platform Glassdoor. When looking at its data, Glassdoor found that job openings on its site had decreased by 20.5% between
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Shannon Stapleton | Reuters Goldman Sachs reported first-quarter earnings before the opening bell Wednesday. Goldman Sachs earned $3.11 a share in the first quarter with revenue of $8.74 billion. Goldman shares are lower by 1.6% in
A food delivery man crosses the street in Times Square in Manhattan on March 17, 2020 in New York City. Johannes Eisele | AFP | Getty Images As the coronavirus pandemic roils the restaurant industry, one ghost kitchen company is leasing shuttered eateries and hiring 1,000 employees to meet consumer demand for food delivery. C3,
Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020. San Francisco Chronicle/Hearst Newspapers via Getty Images Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds
CNBC’s Jim Cramer said that dominant U.S. companies are further solidifying their positions during the coronavirus pandemic, evidenced by the Nasdaq 100 being almost even for the year. “This is the big triumphing over the little guy and if you don’t mind making money in the market off that, that’s what’s going on,” Cramer said on “Squawk on the
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