Take a look at some of the biggest movers in the premarket: IBM (IBM) – IBM reported quarterly profit of $2.07 per share, beating the $1.79 a share consensus estimate. Revenue missed Wall Street forecasts, however, as software sales posted a decline as pandemic-induced uncertainty kept some customers from striking long-term deals. The shares dropped
Month: January 2021
Rising coronavirus infection rates, and the accompanying wave of lockdowns across Europe, should prompt managers to spend more time considering their employees’ mental health, according to the CEO of staffing group Adecco. “Especially with … the second wave of lockdowns coming in, we need more emotionally intelligent leaders, because we see that many people are
Nate Wlodarchak, left, and his husband Shawn Wlodarchak. Source: Nate Wlodarchak As Nate Wlodarchak drove people to the polls on Election Day, he couldn’t stop picturing his life without student debt. On the campaign trail, now President Joe Biden had promised to forgive $10,000 of the loans for all borrowers, which would practically reset Wlodarchak’s
Medicines for dogs from Elanco (above) and Bayer (below) are available in an animal shelter on the treatment table of a veterinarian. Frank Rumpenhorst | picture alliance | Getty Images Company: Elanco Animal Health Inc. (ELAN) Business: Elanco is an animal health company that develops, manufactures and markets products for companion and food animals. The company provides
MARK RALSTON | AFP | Getty Images Someone in Michigan is kicking off their weekend a whole lot richer. A single ticket sold in the Wolverine State hit all six numbers drawn Friday night to land the $1 billion Mega Millions jackpot. The prize had been climbing for 37 weeks with no winners through twice-weekly drawings.
Jim Lo Scalzo-Pool/Getty Images President Joe Biden in a speech last week said his $1.9 trillion Covid relief plan would lift 5 million kids from the ranks of the poor and cut the child poverty rate in half. That would be the biggest child-poverty reduction in recent history, according to some experts who study the
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs reported fourth-quarter earnings before the opening bell on Tuesday. Here are the numbers: Earnings: $12.08 a share, vs. $7.47 per share expected, according to Refinitiv.Revenue: $11.74 billion, vs. $9.9 billion estimate. Expectations
UK Prime Minister Boris Johnson speaks during a media briefing on coronavirus (COVID-19) at Downing Street on January 15, 2021 in London, England. Dominic Lipinski | Getty Images LONDON —There is “some evidence” a new Covid variant first identified in the U.K. could be more deadly than the original strain, British Prime Minister Boris Johnson
Until the coronavirus crisis, nothing had been able to slow the pace of annual college tuition increases. Year after year, college costs edged higher, rising 3% to 5%, on average — outpacing inflation and family income. However, in the midst of the pandemic, schools are under pressure to keep these increases in check. Several institutions said
Brian Moynihan, CEO of Bank of America, at the Goldman Sachs U.S. Financial Services Conference on December 4, 2018. Michael Newberg | CNBC Bank of America CEO Brian Moynihan is awarding nearly all of his 212,505 employees a bonus for their work during the coronavirus pandemic. Staffers in the U.S. who earn $100,000 or less
SpaceX owner and Tesla CEO Elon Musk poses as he arrives on the red carpet for the Axel Springer Awards ceremony, in Berlin, on December 1, 2020. Britta Pedersen | AFP | Getty Images Elon Musk tweeted Thursday he will be “donating $100 million towards a prize for best carbon capture technology.” The Tesla and
IBM’s logo seen displayed on a smartphone. Rafael Henrique | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Ford — Shares of the U.S. automaker dipped about 1%, retreating from an all-time high hit in the previous session. The stock jumped 6.2% Thursday following positive comments from
A shopper wearing a protective mask walks past a sale sign at an American Eagle Outfitters Inc. clothing store at Westfield San Francisco Centre in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images American Eagle ahead of a virtual meeting with investors Thursday said it expects fourth-quarter
A healthcare worker wears personal protective equipment (PPE) during a United Airlines Covid-19 test pilot program at Newark Liberty International Airport in Newark, New Jersey, U.S., on Monday, Nov. 16, 2020. Angus Mordant | Bloomberg | Getty Images United Airlines‘ CEO wants to make Covid-19 vaccines mandatory for its employees and is encouraging other companies
Image Source | DigitalVision | Getty Images As President Joe Biden advocates for sending additional stimulus checks to millions of Americans, he is also moving help those who missed out on earlier payments. On Friday, Biden issued an executive order asking the Treasury Department to re-evaluate its delivery structure for stimulus checks to make sure
Wall Street’s most hated stock GameStop surged again on Friday as the massive short squeeze continued to fuel its explosive rally. The video game stock soared as much as 69.4% to a high of $72.88 on Friday, bringing its gains to over 100% this week alone. Trading in the stock was briefly halted due to
During his first days in office, President Joe Biden has issued a series of executive orders aimed at helping struggling Americans amid the pandemic, while Biden and his administration also urge Congress to pass his proposed coronavirus relief package. His $1.9 trillion plan, which includes provisions like a third round of $1,400 stimulus checks to
President Joe Biden signs an executive order during an event in the State Dining Room of the White House on Jan. 21, 2021. Alex Wong | Getty Images News | Getty Images President Joe Biden ordered federal labor officials on Friday to clarify when unemployed workers can refuse a job offer and continue to collect
Intel CEO Robert “Bob” Swan announces the chip group’s new microprocessors called “Tiger Lake” at the technology fair CES in Las Vegas on Jan. 7, 2020. Christoph Dernbach | picture alliance | Getty Images On Thursday, financial wires published details of Intel’s fourth-quarter earnings results minutes ahead of the markets closing at 4 p.m., when
TGI Fridays CEO Ray Blanchette said that President Joe Biden’s proposal to eliminate the tipped minimum wage would likely result in fewer hours for the chain’s waitstaff and higher menu prices. Biden has proposed raising the federal hourly minimum wage from $7.25 to $15 and eliminating tip credits, a change that would primarily affect the
People line up in their cars to receive food assistance in Groveland, Florida, near Orlando, on Dec. 9, 2020. Paul Hennessy/NurPhoto via Getty Images ‘Totally egregious’ U.S. Labor Department data issued Thursday provides the first glimpse of how delays from Congress and the president affected benefits. More than 1.7 million people dropped off Pandemic Unemployment
Traders on floor of the New York Stock Exchange. Source: New York Stock Exchange With the inauguration — and the risk of disruption — now over, what’s next for markets? The S&P 500 has risen 15% since the election to historic highs on a series of macroeconomic hopes that have driven sentiment, technical levels, and
A customer purchases Powerball lottery tickets for a $700 million jackpot at a newsstand in New York City, August 23, 2017. Brendan McDermid | Reuters A single Powerball ticket purchased in Maryland is worth $731.1 million. After growing for four months with no jackpot winner, the top prize — the sixth-largest in lottery history —
The stock market may avoid a major near-term correction, according to economic forecaster Lakshman Achuthan. Achuthan, co-founder of the Economic Cycle Research Institute, told CNBC’s “Trading Nation” on Thursday that the risk a pullback of at least 10% is “really low” because the U.S. is in expansion mode. “The cycle is on the side of
Bob Swan, then-interim chief executive officer and chief financial officer of Intel Corp., reacts during the inauguration of the company’s research and development facility in Bengaluru, India, on November 15, 2018. Samyukta Lakshmi | Bloomberg | Getty Images Intel stock rose more than 6% on Thursday as the chipmaker reported earnings and revenue that exceeded
The Foxconn logo is displayed on a Foxconn building in Taipei on January 31, 2019. Sam Yeh | AFP | Getty Images For a new venture with little revenue, Foxconn‘s nascent automotive business is off to a big start this year, inking partnerships to develop new electric cars with Chinese start-up Byton and Hong Kong-based
Hermione Granger | Moment | Getty Images In the last few weeks, bitcoin has been on a wild ride, surging to record highs and then wiping hundreds of billions of dollars from the cryptocurrency market days later. The volatility shows why curious investors should pause before putting money into the cryptocurrency. Bitcoin had an epic
fstop123 | E+ | Getty Images If you pulled money from your 401(k) plan or individual retirement account last year to get through tough times, now is the time to consider next steps. The federal CARES Act that was passed in March 2020 put in place very favorable terms for qualified retirement plan participants under
Billionaire global investor Barry Sternlicht said Thursday he’s concerned about the long-term viability of current conditions in the stock market, warning that some aspects feel reminiscent of the dot-com bubble back in the 1990s. “I don’t think we’re having a problem in the stock market near term,” Sternlicht said on “Squawk Box.” “The stimulus is
Yellow Dog Prod. | Image Bank | Getty Images We witnessed the tale of two markets in 2020. The market experienced a short, steep and frightening freefall. Yet it quickly turned, with stocks finishing the year near all-time highs. This unique experience had a big impact on the psyche of investors and, consequently, how they
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