In this article ROKU A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Brendan McDermid | Reuters Roku shares plummeted more than 25% in extended trading on Thursday after the company missed expectations
Month: July 2022
Trucks at the entrance to the Port of Oakland in Oakland, California, US, on Thursday, July 14, 2022. Truckers servicing some of the US’s busiest ports are staging protests as state-level labor rules that change their employment status begin to go into effect, creating another choke point in stressed US supply chains. David Paul Morris
Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed
Jim Magats, former PayPal executive who is being named CEO of the startup MX Photo: Tom Cook MX, the startup competing against Plaid to help connect financial institutions and fintech players, is naming PayPal executive Jim Magats its new CEO, CNBC has learned. Magats, a nearly two-decade PayPal veteran who was most recently senior vice
JGI/Jamie Grill | Tetra images | Getty Images As the U.S. economy shrinks for a second straight quarter — one definition of a recession — many Americans aren’t prepared for an economic downturn. However, financial advisors say there’s plenty that is in your control. Fewer than half of Americans feel “financially secure enough” for another
It’s a fund looking to make money from green investing. The inclusive, actively managed Vanguard Baillie Gifford Global Positive Impact Stock Fund (VBPIX) is an environmental, social and governance product that bundles companies with positive, inclusive and sustainable intentions. “It’s really a fund that’s going to be investing in global equities looking to deliver long-term
Coronavirus disease (COVID-19) treatment pill Paxlovid is seen in boxes, at Misericordia hospital in Grosseto, Italy, February 8, 2022. Jennifer Lorenzini | Reuters Pfizer’s second-quarter revenue and profit beat Wall Street expectations, driven by sales of its Covid-19 vaccine and its antiviral treatment Paxlovid. Pfizer booked $27.7 billion in revenue, a 47% increase over the
In this article SAVE JBLU JetBlue Airlines and Spirit Airlines are seen on the departure board in the Fort Lauderdale-Hollywood International Airport on May 16, 2022 in Fort Lauderdale, Florida. Joe Raedle | Getty Images JetBlue Airways finally won over Spirit Airlines with a $3.8 billion takeover deal. Now it needs to win over antitrust
The Federal Reserve raised the target federal funds rate by another 0.75 percentage points at the end of its two-day meeting Wednesday, in an effort to curb unrelenting inflation. Fed officials have already raised benchmark short-term borrowing rates 1.5 percentage points this year, including June’s 75-basis point increase, which marked the largest increase in nearly three decades. The
MARK RALSTON | AFP | Getty Images The Mega Millions jackpot just won’t quit. After no ticket matched all six numbers drawn Tuesday night, the top prize has surged to $1.02 billion for Friday night’s drawing. It marks the fourth time a lottery jackpot has crossed the $1 billion mark. While the chance of a
Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks with equipment manufacturing giant Sany Heavy Industry. Pony.ai BEIJING — Self-driving tech start-up Pony.ai announced Thursday it plans to mass produce autonomous driving trucks in China with equipment manufacturing giant Sany Heavy Industry. Annual production is set to reach about 10,000
A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. Peter Nicholls | Reuters Barclays on Thursday saw a slump in second-quarter profit after taking a substantial provision relating to a costly trading error in the U.S. The British bank reported a £1.071 billion ($1.30 billion) net profit attributable to shareholders, meeting
In this article ULCC JBLU SAVE LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC JetBlue Airways reached a deal to buy Spirit Airlines, hours after the discount carrier ended its merger agreement with Frontier Airlines. A JetBlue acquisition of Spirit would create the country’s fifth-largest carrier
The Good Brigade | DigitalVision | Getty Images As the Federal Reserve again raises interest rates to combat soaring inflation, some advisors are shifting clients’ investment portfolios. The central bank on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase, aiming to curb rising prices without triggering a recession. The move
When Kylie Jenner’s very brief flight on a private jet went viral last week, people were outraged — largely about the environmental impact of the trip. Jack Sweeney was unfazed. The 19-year-old whose Twitter account @CelebJets publicized Jenner’s trip has made a name for himself since January by publicly tracking the private jets of billionaires
Stock futures moved slightly lower in overnight trading after markets staged a major rally during regular trading following another 0.75 percentage point hike from the Federal Reserve. Futures tied to the Dow Jones Industrial Average slipped 30 points, or 0.1%. S&P 500 futures lost 0.15% and Nasdaq 100 futures dropped 0.35%. Shares of Meta Platforms
In this article META Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. The shares dropped 3.8% in extended trading. Here’s how the company did: Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv
A Frontier Airlines airplane taxis past a Spirit Airlines aircraft at Indianapolis International Airport in Indianapolis, Indiana, on Monday, Feb. 7, 2022. Luke Sharrett | Bloomberg | Getty Images Spirit Airlines terminated its merger agreement with Frontier Airlines on Wednesday, months after a rival bid by JetBlue Airways marred the planned tie-up. The announcement ends a
Paul Bradbury | Ojo Images | Getty Images Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter. The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy,
Like everyone, Mark Cuban’s investment history has hits and misses — and, at least when it comes to ABC’s “Shark Tank,” the billionaire has made peace with that fact. On Saturday, Cuban noted on Twitter that “on a cash basis,” he’s taken a net loss on his myriad “Shark Tank” investments — which, by one
Speculation has emerged in recent months that Credit Suisse may be considering a capital raise. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse Chairman Axel Lehmann denied any intention to sell or merge the embattled Swiss lender after it reported a massive second-quarter loss. The bank posted a net loss of 1.593
Deutsche Bank beat market expectations to post an eighth straight quarter of profit on Wednesday, recording a second-quarter net income of 1.046 billion euros ($1.06 billion). The German lender exceeded consensus expectations among analysts aggregated by Refinitiv of a 960.2 million euro profit, and vastly improved on the 692 million euro profit for the same
World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 Ethan Miller | Getty Images Entertainment | Getty Images World Wrestling Entertainment‘s annual report for 2021 lists a risk factor specifically about the
Activists participate in a rally urging the expansion of Social Security benefits in front of the White House July 13, 2015. Getty Images Two Washington Democrats — Sen. Mazie Hirono of Hawaii and Rep. Ted Deutch of Florida — teamed up last week to reintroduce legislation to strengthen Social Security. Their bill, the Protecting and
In this article CS Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland, September 2, 2020. Arnd Wiegmann | Reuters Credit Suisse CEO Thomas Gottstein is about to step down from the embattled investment bank, the Wall Street Journal reported on Tuesday. The Zurich-based bank will soon announce
andresr | E+ | Getty Images Covid-19 relief and record-low interest rates boosted many Americans’ finances during the pandemic. That has been especially true for millennials, who have on average built significant wealth. Millennials, born between 1981 and 1996, have more than doubled their total net worth, reaching $9.38 trillion in the first quarter of
Stock futures ticked up in overnight trading as traders await the Federal Reserve’s latest interest rate decision, scheduled to be announced Wednesday afternoon. Futures on the Dow Jones Industrial Average rose by 36 points, or 0.11%. S&P 500 futures gained 0.46% and Nasdaq 100 futures increased 0.76%. Shares of Enphase Energy gained about 6% after
In this article MMM 3M announced Tuesday it will spin off its health-care business into a separate publicly traded company. The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers
A Walmart Inc. logo is displayed on a sign that reads “Everyday Low Price” at a store in Burbank, California, U.S., on Tuesday, Nov. 26, 2019. Patrick T. Fallon | Bloomberg | Getty Images Shares of retailers including Macy’s, American Eagle and Amazon fell Tuesday, a day after Walmart slashed its profit forecast and warned
Twenty/20 The Biden administration is considering wiping out hundreds of billions of dollars in student debt. Its announcement could come as soon as next month. Why would the federal government relieve a large portion of the loans it gave out? These are some of the main reasons, according to experts. 1. A growing sense the
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