Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm reported quarterly profit of $1.70 per share, falling 3 cents a share short of Wall Street forecasts. Revenue also came in slightly shy of estimates and the company gave a weaker-than-expected current-quarter revenue forecast, as clients spend less
Month: September 2020
A customer carries a to-go bag outside a Darden Restaurants Inc. Olive Garden restaurant in Clarksville, Indiana, U.S., on Thursday, March 5, 2020. Luke Sharrett | Bloomberg | Getty Images Darden Restaurants on Thursday reported that its revenue fell by more than 28% in its fiscal first quarter as the company’s business slowly recovers from
Month by month, retailers are starting to pay more rent as states lift shutdown orders and consumers become more comfortable venturing out to shop during the coronavirus pandemic. But negotiations, sometimes heated, continue between tenants and landlords. In some cities and popular shopping districts, commercial rents are still sky high. Tensions keep brewing, as mall and
A health worker injects a person during clinical trials for a Covid-19 vaccine at Research Centers of America in Hollywood, Florida. Eva Marie Uzcategui | Bloomberg | Getty Images If you’re on Medicare and hope to get a coronavirus vaccine as soon as it’s available, it may take an act of Congress for it to
In this photo illustration, the Interactive Brokers LLC logo seen displayed on a smartphone. Igor Golovniov | LightRocket | Getty Images Market action around the election is expected to be so volatile that Interactive Brokers is forcing clients to put up more money in order to trade using leverage. The retail broker is increasing margin
With around 13 million Americans unemployed and thousands of businesses permanently closed across the U.S., experts warn that more stimulus will be needed for economic recovery amid the ongoing pandemic. However, Congress is at an impasse, and it looks unlikely that a deal on another stimulus package will happen any time soon. But “we need it as much now as we did back
Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so crazy anymore. “We’ve got data that’s confirmed both the saving and current account dynamic in
Health workers treating patients with the coronavirus may be at the top of the line to get a vaccine once one is approved. But that’s not necessarily the obvious move. The National Vaccine Advisory Committee met Wednesday for the first of a two-day public meeting on the Covid-19 pandemic, vaccine developments and a distribution plan
Oliver Rossi | Stone | Getty Images Once you hit your 50s, retirement is no longer something happening far off in the future. Whether you have been a super-saver your entire career or are just starting to think about retirement, it’s time to take a serious look at what you expect your golden years to
Investors turned on their favorite group of stocks recently, dumping tech shares in historic numbers and increasing their bets against the sector amid a September sell-off. The move came just before the shares began to stabilize this week, but it remains to be seen whether the bearish tilt represented the kind of capitulation that marks
Earlier this year, social distancing and the cataclysmic drop in demand for air travel was expected to bring a sharp rise in airfare prices. Flying was going to get expensive — a lot more expensive, according to some. Commercial aviation, the conventional wisdom said, would return to its 1950s roots as a luxury available only
Spencer Platt | Getty Images Some JPMorgan Chase traders are upset that they only learned about a coronavirus case in their building last week from press reports, CNBC has learned. When the bank discovered that an employee on the fifth floor of its Manhattan headquarters had caught Covid-19, it quickly told those who had contact
Stitch Fix shares dropped by more than 14% in after-hours trading Tuesday as the company reported steep losses for the fiscal fourth quarter. Here’s how the company did during its fiscal fourth quarter ended Aug. 1 compared with Refinitiv estimates: Loss per share: 44 cents vs. 16 cents per share, expected Revenue: $443.4 million vs. $414.9
Johnson & Johnson has begun its phase three trial testing its potential coronavirus vaccine, the pharmaceutical company announced Wednesday. J&J is the fourth drugmaker backed by the Trump administration’s Covid-19 vaccine program Operation Warp Speed to enter late-stage testing. The other companies are Moderna, Pfizer and AstraZeneca. The trial will enroll up to 60,000 adult volunteers across
People gather outside of an apartment complex with the intention to stop the alleged eviction of one of the tenants in Mount Rainier, Maryland, U.S., August 10, 2020. Leah Millis | Reuters The stimulus stalemate has left lawmakers at odds over how to get more relief to millions of Americans who need it. Earlier this
An AWS Ground Station satellite antenna at one of the company’s data center in Boardman, Oregon. Amazon Microsoft will offer a new service called Azure Orbital that connects satellites directly to its cloud computing network, the company announced at its Ignite conference Tuesday. The service will begin in a “private preview” to a select group of
There have been almost 200,000 deaths in the United States due to the coronavirus pandemic. And now, wildfires raging across the Western seaboard have killed dozens, burned over 3.6 million acres of land and over 6,400 structures. Residents have been cooped up inside to avoid polluted air. This is a crisis that even the titans of technology and innovation say
Long-time tech analyst Gene Munster believes big tech is on the cusp of a major shift: It’s becoming a stock pickers’ market. The Loup Ventures founder and managing partner expects FAANG stocks, otherwise known as Facebook, Apple, Amazon, Netflix and Google, will fail to collectively rally like they did during most of 2020’s record run.
Shoppers, some wearing PPE (personal protective equipment), of a face mask or covering as a precautionary measure against COVID-19, queue to enter a recently re-opened Nike store at Gunwharf Keys shopping centre in Portsmouth, southern England on June 16, 2020. Adrian Dennis | AFP | Getty Images Nike‘s quarterly earnings and revenue trounced analysts’ estimates,
President Donald Trump boards Air Force One at Joint Base Andrews, Maryland, Sept. 21 as he departs Washington for campaign travel to Ohio. Tom Brenner | Reuters The future of Social Security could be a big issue in the next presidential term, no matter which party wins the Oval Office in November. The program’s funds,
Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Bernstein upgraded Amazon to “outperform” from “market perform,” saying a 16% drop in the stock over the past few weeks has created an attractive entry point. Bernstein highlights Amazon’s growth prospects, noting a 50% increase this year in fulfillment capacity.
Coca-Cola aims to release its first hard seltzer in the U.S. in the first half of 2021, CEO James Quincey told CNBC on Monday. The excursion into the fast-growing category is a noteworthy pivot for the beverage giant, which hasn’t had a presence in the market since the early 1980s, when it sold off its wine
Scott Heins | Getty Images News | Getty Images Mom-and-pop landlords are in a worse financial position relative to their higher-earning peers as unemployment remains elevated and Americans continue to struggle to pay rent, according to a new analysis. Roughly a third of individual landlords who own residential property are from low- to moderate-income households
Nikola Motor Company Source: Nikola Motor Company In recent months, three story lines have captivated Wall Street: SPACs, electric vehicle companies and the rise of retail traders. The outsized success of the first two, and novice investors entering the market in record numbers, have led some investors to claim this is an indication of froth.
Democratic U.S. presidential nominee and former Vice President Joe Biden delivers remarks regarding the Supreme Court at the National Constitution Center in Philadelphia, Pennsylvania, U.S., September 20, 2020. Mark Makela | Reuters Democratic presidential nominee Joe Biden’s plan to increase the capital gains tax could lead to a large-scale sell-off of stocks, according to economic
While the stock market continues to struggle, the dollar is kicking off the week around six-week highs. However, Brown Brothers Harriman’s Win Thin warns the greenback won’t stay there because the backdrop supports another leg lower. He expects the U.S. Dollar Index to test Feb. 2018 lows — which would be around the “88 and change”
TikTok logo displayed on a phone screen is seen with Walmart logo in the background in this illustration photo taken on September 21, 2020. Jakub Porzycki | NurPhoto | Getty Images Brick-and-mortar giant Walmart may seem like an odd match for TikTok, an algorithm-driven social platform known for hosting memes and viral dance challenges. But a
Trying to pick stocks can be risky. Especially these days. Tatsiana Volkava | iStock | Getty Images Bored at home, many people are turning to the stock market and dabbling in day trading for entertainment and profits. However, most individual investors do not have the wealth, the time, or the temperament to make money and
A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York. Mark Kauzlarich | Bloomberg | Getty Images Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of
Trevor Milton CEO of Nikola Massimo Pinca | Reuters Nikola announced early Monday that founder Trevor Milton is voluntarily stepping down from his roles as executive chairman and a member of its board. The electric truck company said the board accepted Milton’s resignation, adding that Stephen Girsky, former vice chairman of General Motors and a member
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