Consumer sentiment for November fell more than anticipated in the final reading of the month, although the index remained near record highs. The University of Michigan’s monthly survey of consumers slipped to 97.5 in final November reading, more than the fall to 98.3 expected by economists surveyed by Refinitiv. The key economic indicator hit 98.6
Month: November 2018
Amazon exposed some customers’ names and emails due to a “technical error,” according to emails the company sent to affected customers. Several people shared screenshots of the emails online Wednesday morning. BetaNews first reported the incident. Tweet Tweet Tweet In a statement, Amazon said, “We have fixed the issue and informed customers who may have
Investing in bitcoin is not for the faint of heart, but over any given two-year period holders of the world’s biggest cryptocurrency have been rewarded, CryptoOracle partner Lou Kerner told CNBC on Wednesday. Kerner, whose venture capital firm supports what it calls the “decentralized digital economy,” has a much longer investment horizon. For example, he
Parents hoping to nab the hottest toys this holiday better hit the shops early, or risk missing out on getting the top electronics, dolls and games on their kids’ wish lists. The first holiday season without Toys R Us is going to look very different for parents. While department stores, grocery chains and even drug
The market sell-off has created a buying opportunity for investors who can afford to be a little patient, noted value investor David Katz told CNBC on Tuesday. Stocks continued to dropon Tuesday, with the Dow Jones Industrial Average wiping out its gains for the year. Meanwhile, about 40 percent of companies on the S&P 500
Extreme volatility in the energy market could be one of the less obvious causes of the stock market’s broad-based sell-off, and there could be more pain to come, CNBC’s Jim Cramer warned Tuesday as the Dow Jones Industrial Average erased its gains for the year. “You can’t understand this breakdown in the stock market unless
Two faulty narratives are behind the massive breakdowns in the technology sector, CNBC’s Jim Cramer said Tuesday after reports surfaced that the FAANG stocks had lost more than $1 trillion in value. “The real culprits, the one-two punch that knocked tech down on the canvas,” were a narrative that the data center — the heart
The Federal Reserve won’t end up raising interest rates as aggressively as projected, said Jim Grant, editor and founder of the venerable Grant’s Interest Rate Observer newsletter. “I think the Fed will definitely blink,” Grant told CNBC on Tuesday. “I don’t know when it will reverse course; I suspect sooner rather than later.” Grant said
The Justice Department is asking a judge to put the brakes on a civil lawsuit against J. P. Morgan Chase, citing an ongoing probe into a “related criminal case” that involves alleged manipulation of precious metals markets. The department wants a six-month postponement in the proceedings of the civil lawsuit, which was filed in 2015
President Donald Trump once again took a shot at the Federal Reserve on Tuesday, saying he would like to see lower rates from the U.S. central bank in answering a question on the state of the economy and financial markets. “I’d like to see the Fed with a lower interest rate. I think the rate’s
Check out the companies making headlines after the bell: Shares of Autodesk rose over 9 percent during the extended session Tuesday. The software design company reported earnings of 29 cents a share, slightly above analysts’ expectations of 27 cents a share. Autodesk reported $661 million in revenue, versus an estimate of $640 million. Foot Locker
The Federal Reserve will likely ease up on its plans for multiple interest rate hikes next year, Wharton School finance professor Jeremy Siegel told CNBC on Tuesday. In addition to an anticipated rate rise in December, the central bank has indicated it plans three more in 2019. “The market is clearly worried about over-tightening of
There is a greater chance of the Federal Reserve making a mistake these days, noted economist Mohamed El-Erian told CNBC on Tuesday. “There’s no doubt in my mind we are more vulnerable,” to a “policy mistake” by the Federal Reserve and a “market accident,” the chief economic advisor at Allianz said on “Closing Bell.” “That’s
Investors are concerned about three key risks but they may be worrying for nothing, strategist Scott Wren told CNBC on Tuesday. The questions of whether there will be a policy mistake by the Federal Reserve, whether global growth is going to slow and whether there will be a margin squeeze have been weighing on investors,
Cisco stock rose 4 percent after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year. Executives will discuss the results with analysts on a conference call at 4:30 p.m. Eastern time. Here’s how the company did: Earnings: 75 cents per share, excluding certain items, vs. 72 cents per share as
Walmart is set to report fiscal third-quarter earnings before the bell on Thursday. Here’s what analysts are expecting, based on a survey by Refinitiv: Earnings per share: $1.01 per share Revenue: $125.55 billion Same-store sales: up 3.1 percent in the U.S. Walmart has been making investments in its stores, online and internationally to keep pace
J.C. Penney on Thursday reported quarterly revenue that fell short of analysts’ expectations, sending shares down more than 10 percent in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Losses per share: 52 cents, adjusted, vs. 56 cents expected Revenue: $2.65
Chinese e-commerce firm JD.com‘s shares came under further pressure on Monday after the company reported its slowest quarterly revenue growth since its initial public offering in 2014. JD.com, which is backed by Walmart, Google, and China’s Tencent, has already lost nearly half of its market value this year as it fights intense competition for Chinese
L Brands shares fell 4 percent postmarket Monday after the company said it would slash its annual dividend in half to $1.20. The company, known for its brands Victoria’s Secret and Bath & Body Works, beat profit expectations. L Brands reported adjusted earnings of 16 cents a share versus a Refinitiv estimate of 15 cents.
Target is set to report quarterly earnings before the bell Tuesday. Here’s what Wall Street is expecting, based on a poll of analysts by Refinitiv: * Earnings per share: $1.12* Revenue: $17.80 billion* Same-store sales: up 5.2 percent Target has a lot of momentum heading into this holiday season, with CEO Brian Cornell recently saying
Lowe’s on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.04 adjusted, vs. 98 cents expected Revenue: $17.4 billion vs. $17.36 billion expected CEO Marvin Ellison started at Lowe’s in
Medical device maker Medtronic posted a better-than-expected quarterly profit on Tuesday, helped by strong performance across all segments. The company’s top-selling cardiac and vascular unit that makes defibrillators, pace-makers, heart valves and stents raked in revenue of $2.86 billion, beating analysts’ estimate of $2.84 billion, according to IBES data from Refinitiv. Medtronic’s minimally invasive therapies
Kohl’s on Tuesday reported quarterly earnings and revenue that topped analysts’ expectations. While it also raised its profit forecast for the year, it was on the low end of what Wall Street had been calling for, and shares fell. Kohl’s stock was recently down more than 7 percent in premarket trading. Its net income during
Campbell Soup on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations ahead of a key shareholder vote on its board next week. Shares of the company rose more than 4 percent in premarket trading. The soup company is locked in a proxy fight with activist firm Third Point, which wants to place five
Facebook’s ad manager platform was not working for a critical period on Tuesday, leaving brands unable to place key Black Friday and Cyber Monday ads. Both Facebook and Instagram were down on Tuesday for users. But the problems also affected media buyers, who were trying to buy ads for their clients. Buyers were unable to
Executives at most of the major retailers were confident in recent third-quarter earnings calls that shoppers will show up at stores and online in full force this holiday season. But skeptical investors were unconvinced and sold off their shares en masse Tuesday. Shares of Target tanked more than 10.5 percent Tuesday on the heels of
Facebook shares finished Tuesday at $132.43, up slightly from $131.55 on Monday, the company’s lowest closing share price in nearly 22 months. The decline comes after yet another major scandal for Facebook in what has been a tumultuous year for the company. After peaking in July, shares of the tech company are down almost 40
NASA will conduct a safety review of Boeing and SpaceX, months after the latter company’s founder and CEO Elon Musk smoked marijuana during a videotaped podcast, according to the Washington Post on Tuesday. The agency’s review of the companies will begin next year, the report says. Musk’s pot-smoking upset high level NASA officials, the Post
Federal Reserve Chair Jerome Powell is now equipped to pause the central bank’s interest rate hike agenda after December thanks to this debilitating sell-off, CNBC’s Jim Cramer said Tuesday. “Today’s sell-off gives Fed Chief Jay Powell the cover he needs to raise interest rates one more time next month and then put the next few
Siri may not be living out its full potential under Apple’s wing, but voice-enabled assistants are nevertheless the future of digital technology, Siri’s co-founder and former CEO Dag Kittlaus told CNBC on Tuesday. Since Apple acquired Siri in 2010, “on the positive side, it’s a lot faster, the speech recognition’s gotten a lot better, but
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