Lululemon Athletica store exterior, Ponce City Market. John Greim | LightRocket | Getty Images Lululemon on Thursday reported sales of $1.1 billion, up 22% from a year ago and beating analysts’ estimates, as shoppers frequented the retailer’s stores and website to buy workout apparel during the period. In North America, net revenue grew 19%, boosted
Month: December 2020
A vial of the Pfizer/BioNTech COVID-19 vaccine is seen ahead of being administered at the Royal Victoria Hospital in Belfast, Northern Ireland December 8, 2020. Liam McBurney | Pool | Reuters The U.S. Food and Drug Administration is “rapidly” working toward clearing Pfizer’s Covid-19 vaccine for emergency use after a key panel overwhelmingly endorsed the
Charday Penn | E+ | Getty Images Small business owners with battered finances might be in line for additional funding from the Paycheck Protection Program. On Wednesday, lawmakers from both sides of the aisle circulated a summary of their $908 billion emergency Covid relief package. The proposal sets aside $300 billion for the Small Business
New York Stock Exchange building is seen decorated for Christmas at the Financial District in New York City, United States on November 30, 2020. Anadolu Agency | Getty Images IPOs vs. SPACs: Who will win in 2021? 2020 was a surprisingly good year for IPOs, but it was an even better year for Special Purpose
The pandemic has battered small businesses in New York City, and among those struggling are nearly 20,000 street vendors that have lost 70% to 90% of their earnings, according to a survey conducted in June and September. With these small businesses that are such a vital part of New York City barely surviving, Morgan Stanley
Canaccord Genuity’s Tony Dwyer is on correction watch due to frothiness in the market. But he isn’t rolling back his overall bull case for stocks. Rather, he’s strengthening it by boosting his EPS or earnings per share targets for this year and next. “There are three levels of stimulus that have come into the marketplace,”
President-elect Joe Biden’s Covid advisory board member Dr. Atul Gawande told CNBC that the Covid-19 vaccine rollout “is a Herculean operation” with potential hitches along the way as Pfizer’s Covid vaccine just took a big step toward FDA approval for emergency use. “The biggest challenge is going to be both production and then getting it into
Marc Romanelli | Tetra images | Getty Images Maria Rangel came to Los Angeles from Colombia five years ago with her infant son and $500, hoping to realize the American dream. And, she did. ”We had not much and now we have a home,” said Rangel, who bought a condo two years ago. The 35-year-old
Courtney Keating | E+ | Getty Images Talk to anyone who’s gone through divorce and they’d likely say the experience was no walk in the park. Yet the notion may be weighing on more spouses during the pandemic, some research shows. For instance, based on Loanry.com’s internal data, there’s been a 62% increase in loan
SpaceX’s Crew Dragon Endeavour seen docked with the International Space Station on July 1, 2020. NASA Morgan Stanley held its annual space summit virtually this year due to the coronavirus pandemic, but analyst Adam Jonas told CNBC that hundreds of investors and observers participated in the event on Tuesday as interest in the space industry
Dr. Anthony Fauci, the nation’s leading infectious disease expert, has been on a mission since March to end the Covid-19 pandemic. Despite working 18-hour days, Fauci, who turns 80 this month, said he never plans on stopping. “It would be unconscionable to walk away from this,” Fauci said during a Q&A panel with Harvard T.H.
CHICAGO, IL – Chair of The Economic Club of Chicago Mellody Hobson during the Economic Club of Chicago Dinner Meeting at Hilton Chicago on December 6, 2018 Barry Brecheisen | WireImage | Getty Images Mellody Hobson, named Starbucks‘ new board chair on Wednesday, knows what it is like to grow up without money. That’s what
A vial of the Pfizer/BioNTech COVID-19 vaccine. Liam McBurney | Reuters A Food and Drug Administration panel is scheduled to vote Thursday on whether to recommend the approval of Pfizer and BioNTech‘s coronavirus vaccine for emergency use. The non-binding decision from the agency’s Vaccines and Related Biological Products Advisory Committee, an outside group of experts
Image Source | DigitalVision | Getty Images As Capitol Hill lawmakers continue to work on the next round of coronavirus relief, a big question remains: Will there be a second round of $1,200 stimulus checks? Based on one new plan, lawmakers for and against those checks could split the difference and send $600 one-time payments
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., gestures while speaking during a Bloomberg Television interview at the JPMorgan Global Markets Conference in Paris, France, on Thursday, March 14, 2019. Christopher Morin | Bloomberg | Getty Images JPMorgan Chase has a set of policy recommendations for ways President-elect Joe Biden can prevent a
The soaring shares of vaccine makers has created a new wave of billionaires, raising questions about pandemic profits amidst an increasingly unequal recovery. The surge in shares of BioNTech, the German biotech firm that’s partnering with Pfizer on its vaccine, has created $4 billion in added wealth for its CEO and founder, Ugur Sahin. He
Housing is doing something it hasn’t done since the bubble. According to economic forecaster Lakshman Achuthan, home prices across the country are rising at the fastest pace since 2004. Plus, he finds price growth is at a record high. “This economy that has been really driven by stuff at home,” the co-founder of the Economic
General Gustave Perna, chief operating officer for the Defense Department’s Project Warp Speed, speaks during an Operation Warp Speed vaccine summit at the White House in Washington, D.C., U.S., on Tuesday, Dec. 8, 2020. Al Drago | Bloomberg | Getty Images U.S. officials said the federal government plans to start distributing 2.9 million Covid-19 vaccine
Woman holds vials labelled “COVID-19 Coronavirus Vaccine” over dry ice in this illustration taken, December 5, 2020. Dado Ruvic | Illustration | Reuters “I can’t produce enough for the masses,” Johnny T. Stine wrote on Facebook in May, “but in 18 months, when the virus is long gone, everyone will have access to the vaccine
Whether workers get a windfall from Uncle Sam or wind up owing taxes mostly comes down to filling out one form correctly – and few people are doing it. In fact, 45% of the people polled by the American Institute of CPAs said they don’t know when they last reviewed the amount of tax withheld
CNBC’s Jim Cramer said Wednesday he believes there is “rabid money” interested in upcoming technology IPOs, but he urged young investors not to chase after DoorDash once the third-party delivery company goes public. “When people know the brand, the younger inventors just say, ‘You know what, get me some,'” Cramer said on “Squawk on the Street,” “DoorDash
Tesla and SpaceX founder Elon Musk says the biggest problem with corporate America today is that too many business school graduates are running the show. “I think that there might be too many MBAs running companies,” Musk said Tuesday at the WSJ CEO Summit. This “MBA-ization of America,” isn’t great, Musk said, especially when it comes
Take a look at some of the biggest movers in the premarket: Campbell Soup (CPB) – The food maker reported quarterly profit of $1.02 per share, 11 cents a share above estimates. Revenue topped forecasts as well. Campbell also raised its quarterly dividend by 6% to 37 cents per share. The shares gained 1.5% in
Mellody Hobson and George Lucas attend the 2017 LACMA Art + Film Gala Honoring Mark Bradford and George Lucas presented by Gucci at LACMA on November 4, 2017 in Los Angeles, California. JB Lacroix | WireImage | Getty Images Starbucks said Wednesday that Mellody Hobson will serve as the next non-executive chair of its board.
The unmistakable sound of the gong has held spiritual significance in Southeast Asia for centuries. Hand-beaten from sheet materials, the labor-intensive shaping and delicate paintwork result in beautiful percussive instruments. Souvenir gongs can be bought for just a few dollars, but large, finely tuned gongs made from the best materials can fetch tens of thousands
Twitter CEO and Co Founder, Jack Dorsey addresses students at the Indian Institute of Technology (IIT), on November 12, 2018 in New Delhi, India. Amal KS | Hindustan Times | Getty Images The Covid-19 pandemic has prompted some advocates to call for providing Americans with guaranteed monthly income to help them get back on their
Treasury Secretary Steven Mnuchin listens to a question during a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, December 2, 2020. Greg Nash | Pool | Reuters The decision by Treasury Secretary Steven Mnuchin not to extend the funding
It looks Dallas Mavericks’ billionaire owner, Mark Cuban, will take a financial hit this NBA season no matter how many games his team wins. “Am I going to lose a lot of money this year? Yes. No question about it. More than $100 million when this is all said and done? Yes. No question about
People wearing face masks move packs of vegetables at a wholesale market for agricultural products, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 19, 2020. Tingshu Wang | Reuters BEIJING — China’s consumer price index fell in November for the first time in about a decade as
Joby air taxi eVTOL demonstrator. After more than six years of secret development, Joby Aviation lifts the lid on its innovative eVTOL air taxi program. Source: Joby Aviation The air taxi business is at least a couple of years from taking off, but it’s already seeing consolidation among start-ups. California-based Joby Aviation, which is developing
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