Scott Olson | Getty Images News | Getty Images Democratic presidential candidate Elizabeth Warren lashed out at billionaire Leon Cooperman on Monday for his stake in student loan servicer Navient and stressed the importance of forgiving student debt. “I care about an entire generation of students being crushed by student loan debt — deferring their
Democratic presidential candidate Sen. Elizabeth Warren‘s wealth tax would not generate enough money to make a dent in income inequality, said David Rubenstein, the billionaire co-founder of private equity powerhouse The Carlyle Group. “I don’t think all of a sudden a wealth tax, for example, would solve all of our society’s problems, if one could
Kate Spade bags on sale at Macy’s in New York. Scott Mlyn | CNBC The owner of the Kate Spade and Coach handbag brands on Tuesday reported quarterly earnings that beat Street estimates, but sales missed expectations due to weakness at Kate Spade. Tapestry also gave a fresh outlook for fiscal 2020. The company said
Peloton CEO John Foley, center, celebrates his company’s IPO at the Nasdaq MarketSite, Thursday, Sept. 26, 2019 in New York. Mark Lennihan | AP Peloton Interactive‘s shares swung widely Tuesday after the fitness company’s first earnings release since its IPO showed that revenue more than doubled from the last year. The stock initially jumped by
Occidental Petroleum Jay L. Clendenin | Los Angeles Times | Getty Images Occidental Petroleum said on Monday it would slash spending on big projects by 40% next year, as it missed earnings estimates in its first results after closing its $38 billion purchase of rival Anadarko Petroleum. Analysts and activist investors have been pushing the
Elizabeth Holmes exits federal court in San Jose with attorney Kevin Downey on Nov. 4, 2019. Yasmin Khorram | CNBC Elizabeth Holmes, decked out for court in high heels and a suit, brushed aside questions on Monday about legal fees her civil attorneys say she hasn’t paid. “Any response to claims that your attorney’s haven’t
Uber continues to burn through cash, but CEO Dara Khosrowshahi said the company could become profitable in about two years. The ride-hailing company will be profitable on an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) basis for the full year in 2021, Khosrowshahi said in an interview on Monday with CNBC’s Deirdre Bosa.
Pedestrians walk in front of a Shake Shack location in New York. Scott Mlyn | CNBC Shake Shack shares fell more than 14% in extended trading Monday after the company reported third-quarter earnings that beat analysts’ expectations, but turned in disappointing same-store sales growth. Revenue was in-line with expectations, but same-store sales rose 2.0%, shy
Uber announced quarterly results Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019. But the stock fell as much about 5% after the company reported over $1 billion in net losses. Here are the key numbers: Loss per share: 68 cents vs. 81 cents expected, according to Refinitiv
Sen. Elizabeth Warren‘s sweeping “Medicare for All” plan is too much of a political reach to actually be implemented on Capitol Hill, according to Jared Bernstein, who used to advise her Democratic presidential rival Joe Biden. “A good question for her is, given neither this nor the next Congress will enact your plan, don’t tell
Witthaya Prasongsin | Moment | Getty Images Irish author James Joyce wrote in his novel “Ulysses” that a genius makes no mistakes. “His errors are volitional and are the portals of discovery,” he wrote. Talk about hindsight being 20/20. Joyce’s spin aside, mistakes can indeed be learning experiences — and we all make them, especially
Under Armour‘s quarterly earnings and sales topped analysts’ estimates, but the company on Monday morning trimmed its revenue outlook for the full year, citing “traffic challenges.” The retailer’s shares were plunging more than 12% in premarket trading, after news broke Sunday evening that federal agencies are investigating whether the company used bad accounting practices to
‘ ); console.log(“26”); $(document).ready(function(){ $(“.ArticleHeader-headerContentContainer”).append($newdiv); }); Covering five countries on three continents in the span of 34 days, a ski trip launching this December lets people experience some of the best glacier runs and off-piste heli-skiing on the planet. The trip is designed for wealthy travelers as well as those seeking new cultural experiences, said
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc The India Today Group | The India Today Group | Getty Images Berkshire Hathaway on Saturday said its quarterly operating profit rose more than analysts expected, as growth in several business lines offset the drag from trade tensions and tariffs and billionaire Warren Buffett’s inability to
Matt Bonner #15 of the San Antonio Spurs reacts against the Miami Heat during Game Five of the 2014 NBA Finals at the AT&T Center on June 15, 2014 in San Antonio, Texas. Andy Lyons | Getty Images SAN ANTONIO – Retired San Antonio Spurs forward Matt Bonner didn’t do any research when he and
The global art market was valued at $67.4 billion in 2018, the second highest year ever. The United States, United Kingdom and China are the three largest art markets. They account for 84% of the global market, with the U.S. capturing over half of that. Auction houses are one of the biggest drivers of the
Amazon CEO Jeff Bezos attends a commemoration ceremony held in front of Saudi consulate on the first anniversary of his murder, in Istanbul, Turkey on October 02, 2019. Elif Ozturk | Anadolu Agency | Getty Images The presidential primaries are still months away, but Sen. Elizabeth Warren has already doubled her wealth tax. As part
President Donald Trump addresses the International Association of Chiefs of Police annual convention at the Orange County Convention Center in Orlando, Florida on October 8, 2018. Mandel Ngan | AFP | Getty Images President Donald Trump is making his move to Florida official. His home state of New York may not let him go without
Sen. Elizabeth Warren is picking the wrong billionaire in Leon Cooperman as an example of why America needs a wealth tax, CNBC’s Jim Cramer said Friday. Cooperman is the “wrong whipping boy,” said Cramer, praising the Omega Advisors founder — son of a Bronx plumber who became one of Wall Street’s most successful investors —
Chevron reported a 36% decline in third-quarter earnings as lower oil and natural gas prices offset an increase in production. Chevron earned $2.6 billion in the third quarter, down from $4 billion a year earlier. Both EPS and revenue missed the Street’s expectations. Chevron said that the average sale price per barrel of crude oil
Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The results, however, did slightly top Wall Street expectations and the shares gained 3% in Friday’s trading session. Exxon earned $3.2 billion in the third quarter, down from $6.2 billion in the same period a year ago. Here’s how
Ben Silbermann, co-founder, chairman and CEO of Pinterest, speaks in front of the company’s logo at the New York Stock Exchange (NYSE), during the company’s IPO on April 18, 2019 in New York City. Johannes Eisele | AFP | Getty Images Pinterest shares plunged 21% in premarket trading Friday after the image-sharing site reported disappointing
The Pentagon awarded its Joint Enterprise Defense Infrastructure, or JEDI, contract to Microsoft late last week. The JEDI contract is worth up to $10 billion over 10 years, but just as valuable as the money is it’s also worth bragging rights and street cred. This was supposed to be Amazon’s contract to lose. Amazon practically
Thomas Barwick | Getty Images Financial advisors and wealth managers counsel others on money matters. Doling out financial advice is their bread and butter. And like doctors who turn to other physicians when they’ve got their own aches and ailments, financial advisors often rely on others’ opinions when planning their own finances. And, in some
Carl Court | AFP | Getty Images Oil giant Royal Dutch Shell reported a 15% fall in third-quarter net profit on Thursday, citing lower energy prices and chemicals margins. Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in
Apple reported fourth-quarter earnings that beat analyst expectations on Wednesday, thanks to strong performance in services and its fast-growing wearables business. Although Apple’s iPhone’s business was down 9% year-over-year, the company signaled that it expected a big holiday quarter, and Apple stock rose over 1% in after-hours trading Here’s how the company did compared with
Lyft on Wednesday released its earnings report for the third quarter, where it beat on both the top and bottom lines, as well as raised its revenue guidance for 2019. The stock fluctuated following the report and was up 1.4% in extended trading. Here are the key numbers: Loss per share: $1.57 vs. $1.66, per
Starbucks on Wednesday reported quarterly revenue that topped analysts’ expectations as cafes in the U.S. and China attracted more customers. Shares of the company jumped more than 2% in extended trading. “Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions
Facebook stock rose in after-hours trading after the company posted third-quarter earnings that exceeded analysts expectations. Here’s are the key numbers for the quarter ended Sept. 30: Earnings: $2.12 vs. $1.91 per share forecast by Refinitiv. Revenue: $17.65 billion vs. $17.37 billion forecast by Refinitiv. Daily active users: 1.62 billion vs. 1.61 billion forecast by
If you hate paying taxes, at least it’s a reason to pretend you’re glad you never win big in the lottery. So far this year, the 12 winners who have hit Powerball and Mega Millions jackpots — worth an advertised $3.3 billion in all — have collectively fed roughly $505.5 million to the IRS. And