Editor’s Note: Updates have been made throughout this story to correctly report that Amazon is not shutting down Souq. Rather, the brand is still available in Saudi Arabia and Egypt. Amazon launched a new Middle East marketplace on Tuesday, two years after buying the Dubai-based e-commerce company Souq.com for $580 million. With the launch, Amazon said
Month: April 2019
Prologis Inc.: “You’re buying Prologis at the all-time high here. Let’s just stay away. Let this come in for a little. I think rates could go a little bit higher.” Walgreens Boots Alliance Inc.: “I don’t like that stock. I think that the company has kind of lost its way. They have to make some
TRI Pointe Group CEO Douglas Bauer on Tuesday told CNBC he saw a “momentum shift” in the first quarter of 2019. “The consumer is definitely more engaged,” he said in a one-on-one interview with “Mad Money’s” Jim Cramer. An amalgamation of local housing companies, TRI Pointe has surged more than 19% this year along with
The Apple logo is seen on the window at an Apple Store on January 7, 2019 in Beijing, China. Kevin Frayer | Getty Images Check out the companies making headlines after the bell: Shares of Apple soared more than 5% in extended trading Tuesday following the release of the tech giant’s better-than-expected earnings for the
Apple sales technicians confer in front of Apple product advertisements in the World Trade Center in New York City. Robert Nickelsberg | Getty Images Apple reported earnings for its March quarter Tuesday that fell in line with expectations, although revenue was down from the same period last year. However, Apple’s guidance for next quarter was
Hero Images | Getty Images If your high-school senior didn’t make the cut at his dream college this spring, then a transfer might be in the cards. Just make sure you don’t botch it. On average, colleges offered admission to 62% of transfer applicants in fall of 2017, according to the National Association for College
A truck pulling an Amazon Prime branded cargo container waits beside the entrance gate at Amazon.com Inc.’s new fulfillment center in Kolbaskowo, Poland, on Friday, Feb. 16, 2018. Bartek Sadowski | Bloomberg | Getty Images Amazon has been testing a new online service that matches truck drivers with shippers since last year, taking its first
Check out the companies making headlines midday Tuesday: Alphabet — Shares of Alphabet tanked more than 8%, on track for its worst day since Dec. 1, 2008, after the Google parent posted weaker-than-expected quarterly results. The company posted revenue of $36.34 billion in the first quarter, versus $37.33 billion expected per Refinitiv. The revenue was
A bill that would reverse some controversial moves made at the nation’s consumer watchdog could get a floor vote in the House in May, according to a letter that Democratic lawmakers received from their leadership late last week. The Consumers First Act, which was approved 34-26 by the House Financial Services Committee in late March,
Ray Dalio, founder of investment firm Bridgewater Associates, speaking at the WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Ray Dalio, the founder of the biggest hedge fund in the world, was the highest-paid hedge-fund manager in the world last year. According to Institutional Investor’s annual Rich List, the Bridgewater Associates
Questions raised by progressives in the 2020 presidential race about whether capitalism still works for America reflect mistaken beliefs about how prosperity is created, global investor Barry Sternlicht told CNBC on Tuesday. “The left does not understand that companies need to make money in order to invest in new projects and new businesses,” said Sternlicht,
Motherhood comes with many advantages; a higher income is not one of them. There is a gap between men’s and women’s earnings at all ages, but it is generally narrower for those just starting out and becomes greater over time, according to data from the Bureau of Labor Statistics. That’s where parenthood comes in. For
Hero Images | Hero Images | Getty Images Talking about money is one of the most important skills to being a fiscally responsible and literate person. However, 44% of Americans surveyed would rather discuss death, religion or politics than talk about personal finance with a loved one. Why? Two major reasons are embarrassment and fear
An Eli Lilly & Co. logo is seen on the cap of a pill bottle in this arranged photograph at a pharmacy in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of pharmaceutical giants Pfizer and Merck both rose by about 1% Tuesday after reporting first-quarter financial results that beat Wall Street’s expectations.
General Motors Chairman and CEO Mary Barra announces a $300 million investment in the GM Orion Assembly Plant plant for electric and self-driving vehicles at the Orion Assembly Plant on March 22, 2019 in Lake Orion, Michigan. Bill Pugliano | Getty Images General Motors reported higher-than-expected first-quarter profit as the company shaved costs and sold
As Starbucks signals the start of warmer weather by rolling out its summer menu Tuesday, investors can expect sales to heat up as customers clamor for its chilled drinks. Even in the chilly winter months, cold beverages have helped Starbucks’ sales grow. So the company’s strategy has focused its innovation on cold options, like cold
President Donald Trump gestures as he addresses the 148th National Rifle Association (NRA) annual meeting in Indianapolis, Indiana, April 26, 2019. Lucas Jackson | Reuters U.S. President Donald Trump, three of his children and the Trump Organization sued Deutsche Bank and Capital One, in a bid to block the two from responding to congressional subpoenas,
More and more Democratic presidential hopefuls are adopting a single-payer health care stance, which could be devastating for any player in the health insurance business, CNBC’s Jim Cramer said Monday. Following the lead of Bernie Sanders, the independent Vermont senator who is one of the biggest mouthpieces advocating for “Medicare for All,” about eight candidates
Entergy Corp.: “Entergy’s terrific. It’s been a big winner. I think it continues to win. I like that company very much.” Novocure Ltd.: “Novocure is a good company. I don’t understand why it’s independent. I think that one of these big drug companies or device companies should just go buy it, ’cause it’s got great
3M has adopted a more aggressive playbook to mitigate the challenges it faced during the first three months of 2019, CEO Michael Roman told CNBC on Monday. “We were behind the curve in what we were doing to take costs down in Q1,” he said in a one-on-one interview with “Mad Money’s” Jim Cramer. “The
Google’s New York City office in lower Manhattan. Spencer Platt | Getty Images Check out the companies making headlines after the bell: Shares of Alphabet tanked more than 6% in extended trading Monday following the release of the tech giant’s mixed first-quarter results. Alphabet reported earnings per share of $11.90 on revenue of $36.34 billion.
Alphabet shares fell about 7% after Google’s parent company reported revenue that fell below analyst estimates for its first-quarter 2019. The drop wiped more than $60 billion off Alphabet’s market cap. Here’s what Alphabet reported compared to Wall Street’s expectations: Earnings per share: $11.90 per share, ex-items, vs. $10.61 expected, per Refinitiv survey of analysts
A scene from “13 Reasons Why” Source: Netflix Suicide rates for teens saw a sharp increase in the month following the release of the Netflix drama “13 Reasons Why,” according to a study published Monday. “13 Reasons Why,” based on a 2007 novel of the same name by author Jay Asher, follows a 17-year-old high
Makan Delrahim testifies before the United States Senate Committee on the Judiciary on his nomination to be an Assistant Attorney General, Antitrust Division of the US on Capitol Hill in Washington, DC on Wednesday, May 10, 2017. Ron Sachs | dpa | AP Images Despite reports that it won’t be approved, the chief of the
David Solomon, Goldman Sachs Andrew Harrer | Bloomberg | Getty Images Goldman Sachs chairman and CEO David Solomon said the investment bank is working hard to put the 1Malaysia Development Berhad scandal behind it. “We are spending a lot of time being reflective and really thinking about how it was that we wound up having
Got kids? Expect them to hang around long after they turn 18. More than 30% of teens don’t believe they’ll be financially independent from their parents by age 30, according to a new survey from Junior Achievement and Citizens Bank. The two groups polled 1,000 13- to 18-year-old teens online from March 1 through March
By 2016, certified financial planner Kirk Francis had helped numerous small business owners implement strategies for exiting work. Yet he didn’t have a succession plan for his own firm. “I sat there going, ‘Hmmm … the cobbler’s son has no shoes,'” said Francis, CEO and chief compliance officer at Financial Life Advisors in San Antonio.
Who is your financial role model? If you’re married and said your spouse, you may want to rethink your answer. The latest CNBC and Acorns Invest in You Savings Survey found that 20% of married men said “their partner or their spouse” when answering that question. But women, at 32%, are much more likely to
A child stands next to the ‘Fearless Girl’ after a ceremony to unveil the statue’s new location across from the New York Stock Exchange on Dec. 10, 2018 in New York City. Drew Angerer | Getty Images News | Getty Images If you want to see a better gender balance in the workforce, you may
Daniel Ek, chief executive officer and co-founder of Spotify AB. Akio Kon | Bloomberg | Getty Images Spotify Technology reported a better-than-expected rise in first-quarter revenue on Monday as the music streaming company hit 100 million paid subscribers for its premium service, sending its shares up nearly 5%. The global leader in the sector, with
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