Geber86 | E+ | Getty Images After Janell Ivy lost her job at a daycare center because of the pandemic, she fell behind on her $890 rent. The single mother feared that she and her four children, all under the age of 7, would be evicted from their apartment in Houston. She packed up her
Month: June 2021
Starship prototype SN10 fires its three Raptor engines as it comes in for the landing. SpaceX The U.S. Air Force is expanding a small development program that wants to leverage reusable rockets, like those SpaceX is building, to deliver cargo quickly to anywhere in the world. Called Rocket Cargo, the experimental military program will be
Billionaire Jack Dorsey, co-founder of Twitter and Square, is extremely bullish on the future of bitcoin, the largest cryptocurrency by market value. “Bitcoin changes absolutely everything,” Dorsey said Friday at the Bitcoin 2021 Conference. “I don’t think there is anything more important in my lifetime to work on.” In fact, “if I were not at
The exterior of the headquarters of biotechnology company Biogen in Cambridge, MA is pictured on March 21, 2019. John Tlumacki | Boston Globe | Getty Images DocuSign – Shares of the electronic signature company surged 17% after beating on the top and bottom lines of its quarterly earnings. DocuSign earned 44 cents per share on
Dr. Scott Gottlieb pointed on Friday to the highly transmissible Covid-19 variants as a potential cause behind an increase in adolescents being hospitalized with the virus in March and April. “It’s concerning, the trends on hospitalizations” among teenagers, said Gottlieb, the former Food and Drug Administration chief during the Trump administration. “I think it’s a
Many Americans are suddenly house rich. On paper, anyway. Soaring home prices have resulted in a record amount of home equity on hand. By the end of last year, roughly 46 million homeowners held a total $7.3 trillion in equity to tap, the largest amount ever recorded, according to Black Knight, a mortgage technology and
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire investor Bill Ackman said he expects to close his SPAC deal to buy 10% of Universal Music Group for around $4 billion later this month. Ackman’s blank-check company Pershing Square Tontine Holdings (PSTH) is likely to finish the transaction by June 22,
In this article AMC AMC Entertainment CEO Adam Aron has seen his wealth soar by more than $200 million since the start of the year thanks to a retail-investor fueled rally, according to securities filings. The theater chain, which has become a favorite of retail investors and social media message boards, has seen its stock
A store advertises a Help Wanted sign in Annapolis, Maryland, on May 12, 2021. JIM WATSON | AFP | Getty Images Long-term unemployment fell for the second straight month in May, an encouraging shift away from the recent near-record levels fueled by the economic carnage of the Covid pandemic. Economists classify long-term unemployment as a
In this article AMC Closed signs are seen on an AMC Theatre during the outbreak of the coronavirus disease (COVID-19), in New York City, April 29, 2020. Brendan McDermid | Reuters Investment firm Mudrick Capital has exited both its debt and equity positions in AMC Entertainment, sources tell CNBC’s David Faber, as the theater chain’s
Siraj Ahmad | iStock | Getty Images More than 10 million Americans, or 14% of U.S. renters, say they aren’t caught up with their housing payments, meaning many could be at risk when the national moratorium on evictions expires in under a month. That finding comes from data collected by the Census Bureau between May
[The livestream is scheduled to begin at 1 p.m. EDT. Please refresh the page if you do not see the player above] SpaceX plans to send the latest cargo mission for NASA to the space station on Thursday, with Elon Musk’s company going for its 17th launch this year. The company is targeting 1:29 p.m.
Asia has more than 30 cities with populations greater than five million people, yet only two can lay claim to the top bar on Asia’s 50 Best Bars list. Every year since the list’s inception, the continent’s best-ranked bar has been in either Hong Kong or Singapore. The annual ranking is organized by William Reed
A top investor expects volatility to dominate Wall Street for months. Amanda Agati, PNC Financial’s chief investment officer, lists stretched market valuations, Federal Reserve taper chatter and the end of stimulus checks as troubling forces in the market. “You have to pick and choose your exposures very, very carefully,” Agati said on CNBC’s “Trading Nation”
In this article LULU Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon on Thursday reported fiscal first-quarter revenue that soared 88%, topping analysts’ estimates, as shopper traffic steadily rebounded to its stores. The leggings maker also
Thomas Trutschel | Photothek | Getty Images Inflation is here and higher interest rates may follow — much to the delight of savers who’ve endured rock-bottom returns on cash and other safe investments since the Great Recession. But inflation is a double-edged sword. Higher prices that consumers pay for goods and services may completely gobble
In this article BBBY BB AMC Joe Moglia, former CEO of online trading platform TD Ameritrade, issued a stern warning Thursday about using leverage to try to outsize returns in meme stocks. “My biggest concern is what’s going on with the individual investor” using borrowed money to trade more than they have, Moglia told CNBC’s
Five years ago, Lindsay McCormick was working as a TV producer on HGTV’s “House Hunters.” She was traveling the country, living out of a suitcase, and relying heavily on travel-size toiletries. “I kept going through toothpaste tubes and I was just like, this feels so wasteful,” McCormick says. An avid surfer and former surf instructor,
In this article GM Check out the companies making headlines in midday trading. Blackberry — Shares of the tech company were down 4% in midday trading after surging more than 20% shortly after the opening bell. Blackberry has become one of the most-discussed stocks on Reddit in recent days, which helped to fuel a rally.
Here are the most important news, trends and analysis that investors need to start their trading day: AMC mania captivates Wall Street, company to sell more shares Short sellers of AMC shares lost $2.8 billion in one day Bond yields inch higher ahead of two jobs reports Largest meat producer getting back online after cyberattack
In this article SPCX Morsa Images | E+ | Getty Images Early in 2021, SPACs, or special purpose acquisition companies, raised record amounts of money to take private firms public. The frenzy, and recent slump of SPAC shares, could lead to riskier deals in the coming months and years, meaning those looking to invest in
In this article AMC An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. Carlo Allegri | Reuters Mudrick Capital raised eyebrows on Tuesday when it bought 8.5 million shares of AMC Entertainment through an offering from the theater chain,
In this article GME AMC BB-CA Mario Tama | Getty Images AMC Entertainment‘s stock continued its wild ride on Wednesday, with the price per share rising more than 100% and prompting a halt to its trading several times. AMC is one of several so-called meme stocks that have seen a surge in interest from individual
Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Aly Song | Reuters BEIJING — Tesla is recalling more than 700 units of its Model 3 electric car that were imported into China, the central government’s market regulator said Thursday. The announcement follows recalls
In this article TSLA BEVER-NL Elon Musk brought electric vehicles into the mainstream with Tesla. Now the EV company is grappling with the consequences of its own innovation, former Ford Motor CEO Mark Fields told CNBC on Wednesday. “One of the many things he did is he pushed the industry toward taking EV seriously,” Fields
In this article AMZN It’s typically one of the most anticipated sales of the year. In 2021, pent-up consumer demand and a surge in new online shoppers could make Amazon Prime Day even bigger. This year’s Amazon Prime Day will include discounts on more than 2 million items for Prime members — about twice as
The Crew Dragon capsule sits on top of the SpaceX Falcon 9 rocket at Launch Complex 39-A at Kennedy Space Center, Fla., Friday, May 29, 2020. Joe Burbank | Orlando Sentinel | Getty Images Private spaceflight specialist Axiom Space on Wednesday announced a deal with SpaceX that added three more crewed flights to the International
Less than two months after Coinbase’s stock market debut, rival crypto exchange Kraken is bringing its mobile app to the U.S. as retail investors flock to digital currencies. Starting Wednesday, the new Kraken App will allow many users across the U.S. to securely buy and sell more than 50 crypto tokens from their mobile phones.
In this article ZM Zoom Video Communications Inc. founder and CEO Eric Yuan at the company’s IPO at Nasdaq MarketSite in New York, April 18, 2019. Victor J. Blue | Bloomberg | Getty Images Zoom reported better-than-expected results on Tuesday, with sales growth of 191%. But the shares fell as much as 5% in extended
In this article TXRH SHAK TAST CBRL DRI TSN A worker walks past a mural outside the JBS SA pork processing plant in Louisville, Kentucky, U.S., on Friday, June 5, 2020. Luke Sharrett | Bloomberg | Getty Images The cyberattack on JBS, the world’s largest meatpacking company, could cause pain for restaurants if the situation