GoPro CEO Nick Woodman Photo by Josh Edelson GoPro on Wednesday cut its revenue and profit forecasts for the rest of the year, hit by a delay in production of its latest Hero8 Black cameras, triggering a 19% drop in its shares. The company, which launched two new cameras including a ramped-up version of its
Month: October 2019
The workplace is changing faster than ever before, and acquiring new skills has become far more important than having the right credentials, according to speakers featured at CNBC’s Capital Exchange event on Thursday. The majority of the U.S. workforce today doesn’t have a college degree and these populations are moving more towards building “skill sets
Sean Murphy | Stone | Getty Images If you’re taking a hefty check from your 401(k) plan as you leave your employer, you might be making a big mistake. Just over 9 out of 10 employers give their employees multiple options to take a distribution from their retirement plan, according to a new survey from
Pedestrians walk outside an E*Trade Financial office in New York. Daniel Acker | Bloomberg | Getty Images Retail brokerage firm E-Trade announced Wednesday it will drop commission fees on online U.S. stock, ETF and options trades. The move comes within a week of Interactive Brokers, Charles Schwab and TD Ameritrade all dropping their commission fees.
Elizabeth Holmes leaves a federal courthouse in San Jose. Meghan Mariani Defense attorneys for former Theranos CEO Elizabeth Holmes and Sunny “Ramesh” Balwani criticized prosecutors Wednesday for stalling to turn over what they call key documents that would clear their clients. “The evidence produced so far confirms our belief that certain documents directly contradict allegations
Tesla cars are seen at a shopping mall showroom in Los Angeles. Mark Ralston | AFP | Getty Images Check out the companies making headlines after the bell: Tesla shares dipped as much as 5% during extended trade after the electric-car maker reported lower-than-expected vehicle deliveries for its third quarter. The company delivered 97,000 vehicles,
Stitch Fix‘s active client base grew 18% year over year, reaching 3.2 million people, the online styling service said when it reported earnings after the bell on Tuesday. That’s about in-line with the 3.23 million analysts were expecting, according to FactSet. This number tracks the total number of users who’ve received a box of clothing
CNBC’s Jim Cramer on Wednesday urged investors to wait for the market to sell-off more before scooping up stocks. The “Mad Money” host did, however, offer a few stocks that are safe to build position in, such as Frank’s Red Hot-parent McCormick. Later in the show, he checks in with payroll provider Paychex CEO Marty
Tyler Huck, his wife Claire and daughter Camryn. Source: Tyler Huck When Tyler Huck graduated from college in 2008, it was smack in the middle of the financial crisis. That shaped his views on money and investing. “I saw friends, family lose heavy money on real estate,” Huck said. “I saw parents lose heavy money
Traders work on the floor of the New York Stock Exchange on August 14, 2019 Spencer Platt | Getty Images One of the market’s most important players is losing its mojo. Corporate America’s share buybacks, which hit a record of over $1 trillion in 2018 on the back of a tax overhaul, have begun to
CNBC’s Jim Cramer believes Wall Street should be much more afraid of Bernie Sanders in the White House of than of Elizabeth Warren. Vermont Sen. Sanders, who describes himself as a Democratic socialist, wants to “make people who are billionaires lower than billionaires,” Cramer said on “Squawk on the Street” on Wednesday. Sanders is “basically
New York Federal Reserve President John Williams said the central bank has the tools to fight another recession and could deploy them even more aggressively next time around. Williams indicated the Fed has enough stimulative methods even as its benchmark interest rate is now below 2%, leaving little room for major cuts. Specifically, he said
New homes for sale by Lennar home builders. Getty Images Lennar reported a better-than-expected profit on Wednesday, as cheaper mortgage rates led to higher demand for its homes. The No. 2 U.S. homebuilder’s shares rose more than 2% before the opening bell. The company said its orders, a key indicator of future revenue, rose 8.5%
Shianne Coleman (L) gets a hand from friend Austin Gremmel as they walk in flooded streets as the Neuse River begins to flood its banks during Hurricane Florence September 13, 2018 in New Bern, North Carolina. Chip Somodevilla | Getty Images Climate change poses a significant threat to global corporations, and financial regulators must transform
When it comes to love, debt can be a dealbreaker. These days, one-third of millennials would consider breaking up with their significant other because of a financial secret, such as hidden debt or a bad credit score, according to TD Bank’s fifth annual Love and Money Survey released Tuesday. Still, more than 1 in 4
Kathy Huff installs a headlight assembly at GM’s Chevrolet Silverado and GMC Sierra pickup truck plant in Fort Wayne, Indiana, July 25, 2018. John Gress | Reuters U.S. economic growth is expected to have slowed in the third quarter of 2019, according to the Atlanta Federal Reserve’s GDP tracking gauge. The GDPNow model estimates the
Trump International Hotel & Tower New York building is seen from the balcony of an apartment unit in the AvalonBay Communities Inc. Park Loggia condominium at 15 West 61 Street in New York, May 15, 2019. Mark Abramson | Bloomberg | Getty Images Prices for Manhattan real estate took their biggest plunge since the 2008
Engines assembled as they make their way through the assembly line at the General Motors (GM) manufacturing plant in Spring Hill, Tennessee, August 22, 2019. Harrison McClary | Reuters Wednesday’s report of ADP private payrolls could give clues on the labor market, the next part of the economy to be scrutinized after an important manufacturing
European stocks are set to open slightly lower Wednesday morning, after unexpectedly weak U.S. manufacturing activity stoked worries over the world’s largest economy. The FTSE 100 is seen 30 points lower at 7,330, the CAC is expected to open little changed from the previous session at 5,598, while the DAX is poised to start 7
Sticking to a household budget is apparently difficult. As in, really difficult. While 74% of people say they have some sort of budget, 79% don’t stick to it, according to new research from SlickDeals.net, a crowd-sourced shopping platform. The average weekly amount consumers spend — not counting bills such as mortgage or rent, utilities, etc.
CNBC’s Jim Cramer is predicting that shares of Chipotle Mexican Grill could soar to $1,000 each, boosted by its tech initiatives, including partnering with third-party delivery services. “I think Chipotle can go to a thousand. It is a great stock here,” Cramer said Tuesday on “Squawk Box.” The fast-casual stock has nearly doubled in 2019,
Wall Street’s abject fear of Democratic Sen. Elizabeth Warren getting into the White House is a mistake, CNBC’s Jim Cramer said Tuesday. “The fear of Sen. Warren is getting overblown,” Cramer said on “Squawk on the Street,” three weeks after he said that financial industry CEOs were telling him that “she’s got to be stopped.”
It’s usually stock investors who feel the thrill of rising stock prices, and despair when there’s a sharp collapse. But for the past two months, bond investors have been on a similar roller coaster ride, with volatility at multi-year highs. Treasury yields snapped higher early Tuesday, rising with Japanese yields, but then fell sharply as
Gorodenkoff | iStock | Getty Images The Food and Drug Administration issued a warning to consumers Tuesday about potentially serious cybersecurity flaws in some medical devices that could allow hackers take control of them remotely. Medical devices that use third-party, decades-old software called IPnet are at risk, the FDA said. The regulator said it’s not sure
U.S. Treasury Secretary Steven Mnuchin talks to reporters about cryptocurrency in the Brady Press Briefing Room at the White House July 15, 2019 in Washington, DC. Mnuchin said the Treasury is very concerned about Facebook’s Libra cryptocurrency and that he wants the government to “make sure that the U.S. financial system is protected from fraud.”
CNBC’s Jim Cramer on Friday called Wells Fargo‘s selection of veteran banking leader Charles Scharf as its new CEO a “brilliant move.” “This was a job that was offered to Charlie a while ago. And Charlie didn’t want to take it,” Cramer said. “But I think the opportunity was just too great, was my understanding.”
Chinese President Xi Jinping Denis Balibouse | Reuters BEIJING — Chinese President Xi Jinping said Tuesday in a speech commemorating the 70th anniversary of the Chinese Communist Party’s rule that no force could sway China‘s development. “There is no force that can shake the foundation of this great nation,” Xi said in Mandarin, according to
Holiday shoppers at a Macy’s store in New York. Source: Getty Images The holiday season is less and less important for retailers, as more shopping moves online, according to a new study. Coresight Research said Tuesday it’s calling for a 4% increase in U.S. retail sales this November and December, which isn’t as robust as