Business

Joshua Roberts | Reuters Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC’s “Milestone Celebration Dinner” in Washington, U.S., September 13, 2018.  All five FAANG companies — Facebook, Amazon, Apple, Netflix and Google parent company Alphabet — snapped their losing streak Wednesday after
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Gap is getting ready to move out of its massive store on Fifth Avenue in New York, as the apparel retailer recently said it’s considering shuttering hundreds of locations “aggressively” to focus on higher-performing shops. The three-level Gap store at 680 Fifth Ave. will close Jan. 20, a company spokeswoman told CNBC. The company declined
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The pan-European Stoxx 600 sank 0.4 percent during morning trade, with almost all sectors and major bourses in the red. Looking at individual stocks, Germany’s Delivery Hero was the top performer. The online food delivery firm recently sold its German unit to Dutch rival Takeaway.com for $1.1 billion. Its shares rose 10 percent on Monday.
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A Santa Claus rally, which would begin on Monday, is a very specific event: the tendency for the market to rise in the last five trading days of the year and the first two of the new year, good for an average gain of 1.3% in the S&P since 1950, according to the Stock Trader’s
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Shares of Snap are now worth less than $5 each for the first time as of Friday’s close. The stock hit a new low of $4.99 per share as the entire market fell on fears of an impending government shutdown and the Federal Reserve’s rate hikes announced Wednesday. The stock has declined fairly steadily as
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Nvidia’s rapid sell-off is a reminder of how much speculation went into its earlier run-up, when the company played squarely into the hype surrounding artificial intelligence. Researchers flocked to the company’s GPUs to accelerate the training of their complex models, and Nvidia sought to capitalize on the craze. Executives started talking more about AI and
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A key piece of legislation that will pave the way to a legal cannabis economy in the United States could pass as soon as 2019, Kevin Murphy, the founder, chairman and CEO of Acreage Holdings, told CNBC on Thursday. “We believe it’s not necessarily an if, but a when, and I believe it’s not within
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Nike reported quarterly earnings and revenue on Thursday that beat analysts’ expectations. Shares of the company rose nearly 8 percent. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: 52 cents vs. 46 cents expected Revenue: $9.37 billion vs. $9.18 billion
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While the Boring Co.’s first tunnel may be complete, it is far from being finished. The surfaces are bumpy and have yet to be smoothed out. As a result, the demonstration ride, for now, is rough and passengers in the Model X definitely feel the alignment wheels bumping into the track walls to keep the
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Amazon’s massive success has made it a popular poaching ground for executive talent. Many of the departed executives had more than a decade of experience building key parts of Amazon’s business, and have joined hot startups or young public companies that would benefit from the adult guidance these experienced leaders could provide. In return, these
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Drew Angerer | Getty Images Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell, October 25, 2018 in New York City. Investors are fleeing stocks and buying bonds in record numbers amid the global sell-off in equities, according to a December survey of fund managers
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In 2016, Microsoft released a chatbot named “Tay” on Twitter as an experiment in conversational learning. The experiment quickly ran into problems as Twitter users started tweeting at the bot with misogynistic and racist comments, and “Tay” started repeating that sentiment back to users. More recently, Google released a predictive text feature within Gmail where
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Best Buy shares dropped on Monday after Bank of America Merrill Lynch downgraded the stock to underperform (the firm’s equivalent of a sell rating), citing slowing sales of electronics, including the iPhone. The firm cited “deceleration in industry growth trends and continued caution on key product categories such as TVs, Apple products and gaming,” stated
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