Google had its IPO 15 years ago, and it was a big deal for a couple of reasons. First of all, Google’s IPO was a glimmer of hope after the dotcom bust. And Google was trying to reinvent the IPO by making it more transparent, using a process called a Dutch Auction. Today, the IPO
Month: August 2019
Robert Kaplan at Jackson Hole, Wyoming David A. Grogan | CNBC Dallas Fed President Robert Kaplan would like to avoid additional stimulus but is keeping an “open mind.” “I’d like to avoid having to take further action but I think I’m going to have an open mind about taking action over the next number of
Elsa Hosk, Adriana Lima, Behati Prinsloo, and Candice Swanepoel pose during the finale of the 2018 Victoria’s Secret Fashion Show at Pier 94 on November 8, 2018 in New York City. Taylor Hill | FilmMagic | Getty Images Lingerie maker Victoria’s Secret dragged on parent company L Brands‘s second-quarter earnings, which topped analysts’ expectations on profit while
Pedestrians pass in front of Gap Inc. and Old Navy Inc. stores in the Times Square area of New York. Mark Kauzlarich | Bloomberg | Getty Images Gap Inc.‘s second-quarter sales fell short of analysts’ expectations in what the apparel retailer’s CEO called a “challenging environment,” the company announced on Thursday. Its shares initially slid
A patient at the Veterans Affairs Medical Center in Washington, D.C. Jeff Hutchens | Getty Images President Donald Trump signed a memorandum on Tuesday to automatically cancel the student debt of tens of thousands of disabled veterans. “Today I’m proud to announce that I am taking executive action to ensure that our wounded warriors are
Harriet Taylor | CNBC J.P. Morgan Chase customers will no longer be able to pay with their phones in stores beginning next year. The bank said it plans to shut down its Chase Pay app in early 2020. The mobile payment app was launched in 2015 just as Apple Pay was gaining popularity. “The change
A Nordstrom store in Irvine, California Scott Mlyn | CNBC Check out the companies making headlines after the bell: Shares of Nordstrom surged 11% in extended trading after the retailer posted a strong profit despite weakening second-quarter sales. The company reported adjusted earnings per share of 90 cents on revenue of $3.87 billion. Analysts had expected
Toll Brothers reported a better-than-expected quarterly profit on higher home prices, but its shares fell as orders declined, hinting at weaker demand for new homes. Slowing economic growth and recent stock market volatility, triggered by an escalating U.S.-China trade war, have made some Chinese buyers more cautious about investing in the U.S. property market, potentially
Shares of Lowe’s surged more than 10% after the company posted better-expected results in its second quarter raised guidnace on Wednesday. That’s not the only thing that propped the stock’s rally during the session, if you ask CNBC’s Jim Cramer. After Home Depot — Lowe’s chief rival — beat profit estimations the day prior, a number
RyanJLane | Getty Images President Donald Trump has considered new payroll tax cuts to let American workers take home bigger pay checks. But such a move could have negative consequences for both individuals and the economy, a number of experts warn. The president told reporters on Tuesday that he is “thinking about” cutting payroll taxes.
Federal Reserve officials who voted to lower interest rates three weeks ago agreed that the move shouldn’t be viewed as an indication that there is a “pre-set course” for future cuts, according to meeting minutes released Wednesday. The summary indicated that policymakers viewed the move as a “mid-cycle adjustment,” an expression Chairman Jerome Powell used
Despite recent market swings, some retirement savers are feeling pretty comfortable these days. The number of Fidelity 401(k) plans with a balance of $1 million or more jumped to a record 196,000 as of June 30, up 17% from 168,000 last year, according to a new report by Fidelity, the nation’s largest provider of 401(k)
Federal Reserve Chair Jerome Powell holds a news conference following the Federal Reserve’s two-day Federal Open Market Committee Meeting in Washington, July 31, 2019. Sarah Silbiger | Reuters Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battle, citing the issue multiple times during discussions at the central bank’s July
A Target worker helps a customer at a Target store in San Rafael, California. Justin Sullivan | Getty Images The ongoing trade war between the U.S. and China creates uncertainty and complexity for companies like Target, CEO Brian Cornell told analysts on a conference call Wednesday. “As long as the trade situation remains fluid, it
Pedestrians walk past a Nordstrom Inc. store. Ben Nelms | Bloomberg | Getty Images Nordstrom‘s stock soared by more than 17% after the company released a mixed earnings report that showed weakening sales, but handily beat Wall Street profit estimates. Here’s how the company did, compared with what Wall Street was expecting, according to Refinitiv
Hero Images | Hero Images | Getty Images If you’re looking for some of the nation’s most charitable donors, turn toward Beantown. Residents of the Boston-Cambridge-Quincy metro area were among the top three most generous cities based on gifts made to charities centered on the arts, education, the environment, health and human services, according to
With the official launch of the Apple Card, Goldman Sachs is embarking on a multi-decade journey to becoming a leader in consumer banking just as it has been in Wall Street banking and trading, CEO David Solomon said. “Apple Card is big, but it’s also a beginning,” Solomon said Tuesday in an internal memo obtained
London’s Old Street roundabout, often dubbed “Silicon Roundabout.” Chris Ratcliffe | Bloomberg | Getty Images British technology start-ups have attracted more foreign investment since the start of the year than they did throughout all of 2018, according to fresh figures published Wednesday. U.S. and Asian venture capital investors poured $3.7 billion into U.K. tech companies
Shoppers arrive at a Home Depot Inc. store in Louisville, Kentucky, U.S., on Monday, Feb. 25, 2019. Luke Sharrett | Bloomberg | Getty Images Home Depot is set to report earnings before the market open on Tuesday. Here’s what analysts are expecting, based on Refinitiv data: Earnings per share, adjusted: $3.08 Revenue: $31.03 billion Same-store
CNBC’s Jim Cramer on Tuesday advised investors not to fret over IAC‘s move to divest from Match Group and ANGI Homeservices. The conglomerate of media, internet and tech businesses earlier this month announced it would consider selling off its large interests in the two companies. Match Group owns a portfolio of dating sites including Tinder
If you’re hoping to snag the best-available terms on a loan, a standard rule of thumb about credit card usage could end up standing in your way. The common advice is to keep revolving debt below 30% of your available credit so that your utilization rate doesn’t hurt your credit score. Yet experts say your
A City Carrier Assistant to the United States Postal Service, unloads her mail truck after collecting mail on the busiest mailing day of the year for the U.S. Postal Service in Miami, Florida. Joe Raedle | Getty Images As investors look for reliable income streams in a world of falling bond yields, Bank of America
Timothy A. Clary | Getty Images Another former J.P. Morgan precious metals trader pleaded guilty Tuesday to criminal charges of manipulating the precious metals markets for nine years marking the latest in the Justice Department’s crackdown in the commodities markets. Christian Trunz, 34 of London is cooperating with an ongoing federal criminal investigation, the Justice
Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s said Tuesday that a strong start to the back-to-school season and new partnership with Amazon helped the retailer beat Wall Street earnings and sales expectations during the second quarter. The company’s shares
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the stock market is headed “much higher.” The founder of Saut Strategy and former Raymond James chief investment strategist explained on “Squawk Box ” that the market bottomed on Aug. 5 with a “90% downside day, meaning 90% of the total
Hero Images | Getty Images This isn’t your mother’s or grandmother’s retirement. If you’re a woman in your 50s, the chances are greater than ever that you’re not married, either because you’re divorced or because you’ve never walked down the aisle. That’s according to a recent study from the Center for Retirement Research at Boston
Jim Cramer Scott Mlyn | CNBC Investors should be careful not to buy or sell stocks based on last week’s brief inversion of the yield curve in the bond market, CNBC’s Jim Cramer warned on Monday. Cramer was skeptical about buying the Dow Jones Industrial Average‘s 300-point advance at the open on Wall Street, which
Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates, ruler of the Emirate of Dubai, China’s President Xi Jinping and his wife Peng Liyuan (L-R) ahead of a reception marking the Belt and Road Forum at the National Museum of China on April 26, 2019 in Beijing. Valery Sharifulin
Brian Chesky, CEO and Co-founder of Airbnb Mike Segar | Reuters Airbnb recorded $9.4 billion in total booking value in the first quarter, up 31% from the year-ago quarter, a source familiar with the matter said on Friday, a key number that could help pull in investors as the home-sharing company plans its foray into
CNBC’s Jim Cramer on Monday offered a recommendation on the stocks of two of the most recognizable amusement parks across the United States. After facing a couple of years of attendance challenges, the “Mad Money” host said he is willing to give his blessings on Cedar Fair and Six Flags because both companies were able
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