Robinhood CEO and co-founder Vlad Tenev on Thursday defended retail clients that invest in so-called meme stocks, saying the phenomenon is real and gives embattled companies access to capital they otherwise wouldn’t have. “I think it’s a real thing. There’s customers that love these companies, they want them to thrive,” Tenev told CNBC’s Andrew Ross
Month: July 2021
In this article YUM Signage is displayed outside a Yum! Brands Inc. Taco Bell and Kentucky Fried Chicken (KFC) restaurant in Louisville, Kentucky, U.S., on Thursday, Jan. 30, 2020. Luke Sharrett | Bloomberg | Getty Images Yum Brands on Thursday reported quarterly earnings and revenue that topped analyst predictions as same-store sales grew at all
In this article NOC TAP YUM TPX MRK CMCSA Check out the companies making headlines before the bell: Comcast (CMCSA) – Comcast rose 1.9% in the premarket after reporting adjusted quarterly earnings of 84 cents per share, beating the consensus estimate of 67 cents. The NBCUniversal parent also reported better-than-expected revenue, helped by a rebound
People line up outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. Amira Karaoud | Reuters There’s good news for some who claimed unemployment benefits in 2020. The IRS is sending another 1.5 million refunds to people who were taxed on unemployment income last year before a portion
Yuriko Nakao | Getty Images The U.S. Marshals Service, one of the primary law enforcement agencies of the Department of Justice, has hired custodian Anchorage Digital for cryptocurrency seized or forfeited in various criminal cases. The Marshals Service has spent more than a year seeking a custodian and financial services provider for its stockpile of
In this article GSBD BLK GS Eric Adams, Democratic candidate for New York City Mayor, speaks during a campaign appearance in Brooklyn, New York, June 11, 2021. Brendan McDermid | Reuters Eric Adams may not be the mayor of New York, but he is already starting to privately seek an alliance with several of the
In this article OCBC-SG UOBH-SG DBSM-SG Automated teller machines of the three Singapore-listed banks: OCBC, DBS and UOB. Munshi Ahmed | Bloomberg | Getty Images SINGAPORE — Shares of Singapore’s top three banks rose Thursday after the country’s financial regulator lifted a cap on dividend payouts that was implemented following the Covid-19 pandemic. Singapore’s largest
In this article FB CEO of Facebook Mark Zuckerberg walks to lunch following a session at the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Facebook is set to report its second-quarter earnings after market close on Wednesday. Here’s what Wall Street is expecting:
In this article AMCX Bob Odenkirk attends the 2020 Film Independent Spirit Awards on February 08, 2020 in Santa Monica, California. Jeff Kravitz | FilmMagic, Inc | Getty Images Actor Bob Odenkirk is in stable condition at a New Mexico hospital after suffering a heart attack while on the set of AMC’s “Better Call Saul.”
A visual representation of digital currencies. Yuriko Nakao | Getty Images Even though it’s a highly volatile asset, cryptocurrency can help investors build wealth, especially if they invest in digital coins over the long-term. It’s a portfolio play that’s gained traction in recent months and is catching up to stock trading as something that
In this article GNRC A worker inspects a 24-kilowatt Generac home generator at Captain Electric on February 18, 2021 in Orem, Utah. George Frey | Getty Images Shares of backup power company Generac fell more than 12% on Wednesday at the lows after the company warned about ongoing supply chain constraints and inflationary pressures. The
In this article AMZN Sen. Elizabeth Warren on Wednesday reignited her push for a tax on the wealth of the richest Americans and called out billionaire Amazon founder and nascent space-tourism magnate Jeff Bezos for what she views as his failure to pay his fair share. “I want to see us tax wealth, however your
Getty Images LONDON — Britain’s financial watchdog has proposed changing the rules for companies listed on the U.K. stock market to include a “comply or explain” requirement for not meeting diversity targets. The U.K.’s Financial Conduct Authority put forward its proposals on diversity and inclusion in a consultation paper published Wednesday. It proposed that at
In this article BA A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle, Washington, U.S. June 29, 2020. Karen Ducey | Reuters Boeing reported its first quarterly profit in almost two years on Wednesday, boosted by a surge in deliveries of commercial jetliners as airlines began recovering from the
In this article MCD BA PFE SPOT SHOP-CA AAPL Check out the companies making headlines before the bell: McDonald’s (MCD) – The restaurant chain reported adjusted quarterly earnings of $2.37 per share, compared to a $2.11 consensus estimate, with revenue also topping Wall Street forecasts. U.S. same-store sales surged 25.9% while global comps were up
andresr | E+ | Getty Images Millions of Americans are feeling a financial boost from federal stimulus checks and monthly child tax credit payments. Those direct checks were made possible by tax credits that were created or expanded through legislation aimed at helping the U.S. economy bounce back from Covid-19. And as Americans get used
Changpeng Zhao, CEO of Binance, speaks during a TV interview in Tokyo, Japan, on Thursday, Jan. 11, 2018. Akio Kon | Bloomberg | Getty Images The boss of cryptocurrency exchange Binance says he’s willing to step down from his role as the company seeks to become a regulated financial institution. Speaking at a virtual press
A Hobby Lobby store in Totowa, New Jersey. SOPA Images | LightRocket | Getty Images A 3,500-year-old clay tablet purchased by the Hobby Lobby arts and crafts chain for $1.6 million has been forfeited to the United States. The tablet, which bears a portion of the epic of Gilgamesh, a Sumerian poem considered one of
U.S. stock index futures fell during overnight trading on Tuesday after the major averages pulled back from record highs, snapping a five-day winning streak. Futures contracts tied to the Dow Jones Industrial Average slid 91 points, or 0.25%. S&P 500 futures were down 0.27%, while Nasdaq 100 futures fell 0.44%. During regular trading the S&P
Apple CEO Tim Cook attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Apple reports fiscal third-quarter earnings after the bell on Tuesday. Here’s what Wall Street is expecting, per Refinitiv estimates: EPS: $1.01 estimated Revenue: $73.30 billion estimated iPhone revenue: $34.01 billion
CNBC’s Jim Cramer on Tuesday advised investors to stick to their trading strategies and ignore the often-changing prism of the market after stocks snapped a five-day winning streak. “Please, don’t take your cue from the day-to-day action because that just tells you you’re using the filter that we’re all using, instead of doing your own
In this article WMT A worker wearing a protective mask arranges shopping carts outside a Walmart store in Duarte, California, U.S., on Thursday, Nov. 12, 2020. David Swanson | Bloomberg | Getty Images In an effort to help curb soaring student loan debts, Walmart Inc. announced on Tuesday that it will pay 100% of college
In this article UPS Tournament employees work to squeegee the court after rain delays a match between Kim Clijsters and Sloane Stephens during the Truist Atlanta Open at Atlantic Station on July 26, 2021 in Atlanta, Georgia. Casey Sykes | Getty Images Shares of logistics company UPS fell sharply on Tuesday after the company’s second-quarter
“Yes, I’m vaccinated,” says NBA legend Charles Barkley. “Everybody should be vaccinated. Period.” “The only people who are not vaccinated are just a–holes,” he says. The 58-year-old NBA Hall-of-Famer says he personally thinks sports leagues should force players to get vaccinated. “Can you imagine if one of these guys that are not vaccinated, if they
Take a look at some of the biggest movers in the premarket: F5 Networks (FFIV) – F5 beat estimates by 30 cents a share, with quarterly earnings of $2.76 per share. The enterprise software maker’s revenue topped analysts’ forecasts as well. F5 saw strong demand amid a continued pandemic-induced growth in digital business applications. F5
Simone Biles smiles after the closing ceremony in which she was named to the Olympic team during the final day of women’s competition in the U.S. Olympic Team Trials for gymnastics in St. Louis, Missouri, U.S., June 27, 2021. Lindsey Wasson | Reuters Reigning Olympic gymnastics champion Simone Biles is out of the team finals
simonlong | Moment | Getty Images Consumer losses due to Covid-related fraud top $500 million, according to data from the Federal Trade Commission. The agency has received more than 558,000 complaints from consumers related to the pandemic since the start of 2020. About 60% of the complaints were associated with fraud, citing an aggregate loss
Traders work on the floor of the New York Stock Exchange (NYSE), July 21, 2021. Brendan McDermid | Reuters (Click here to subscribe to the new Delivering Alpha newsletter.) Initial public offerings have come roaring back, on track for a record year as companies race to go public in a stock market at all-time highs. So far
Singer Britney Spears attends the Billboard Music Awards at T-Mobile Arena in Las Vegas, Nevada. Lester Cohen | BBMA2016 | Getty Images Britney Spears’ new attorney has filed a petition to replace her father James Spears with Jason Rubin, a certified public accountant, as the pop star’s sole conservator. The move comes just a few
Longtime market bull Phil Orlando is bracing for a rough stretch because Wall Street has reached a critical “inflection point.” The Federated Hermes chief equity market strategist is blaming the risk dynamic. Not only does Orlando see hotter-than-expected inflation and the Covid-19 delta variant as glaring issues, he’s also worried about uncertainty surrounding monetary and fiscal
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