U.S. stock futures pointed to a negative open on Friday as investors digested the latest comments from the Federal Reserve. As of 4:40 a.m. ET, Dow Jones Industrial Average futures were seen down by 79 points, indicating a negative open of -57 points. S&P 500 and Nasdaq futures were also in the red. The Fed
The lawyer for embattled private equity CEO Arif Naqvi says his client is not to blame for the collapse of his Abraaj investment fund, but admits that the scandal has done “some damage” to the reputation of Dubai. “There has been some damage, definitely,” Habib Al Mulla, executive chairman of Baker & McKenzie Habib Al
Gabby Jones | Bloomberg | Getty Images A person smokes a Juul Labs Inc. e-cigarette in this arranged photograph taken in the Brooklyn Borough of New York, U.S., on Sunday July 8, 2018. The Food and Drug Administration plans to limit sales of most flavored e-cigarettes to vape shops and move forward with a ban
The rise of exchange-traded funds has made entire groups of stocks “nothing but chits in a bizarre game of stock market roulette,” CNBC’s Jim Cramer said Thursday. “The FANG stocks — Facebook, Amazon, Netflix and Google, now Alphabet — are in 10 different ETFs, so on any given day, their movements tend to be driven
Amazon’s next big move could be taking on the giants of the delivery industry, RBC Capital Markets’ Mark Mahaney told CNBC on Thursday. “There’s another investment cycle coming, and I bet you it’s around shipping and them actually coming out and directly competing with FedEx and UPS,” the lead internet analyst said on “Power Lunch.”
Activision Blizzard shares plunged 10 percent in after-hours trading after reporting its third straight quarterly decline in monthly active users. The video game company, which owns the Call of Duty and World of Warcraft franchises, reported 345 million monthly active users, down from 352 million in the previous quarter. The video game company reported 52
Check out the companies making headlines after the bell: Yelp stock plunged 27 percent in the extended session after the company missed revenue expectations for the third quarter and also provided weak guidance. The company reported $241 million in revenue, while analysts were expecting $245 million. The company cited a slowdown in advertising account growth
Shares of shoemaker Crocs rallied 27 percent Thursday after CEO Andrew Rees said strong clog sales helped the company post a surprise profit in the third quarter. “Clogs grew in every region. Our North American results were particularly strong as interest in our Classic Clog continued to climb,” Rees said Thursday. “It’s a staple for
Dropbox shares rose more than 9 percent on Thursday after the maker of collaboration software reported better-than-expected third-quarter earnings. Here are the key numbers: Earnings: 11 cents per share, excluding certain items, vs. 6 cents per share as expected by analysts, according to Refinitiv. Revenue: $360.3 million, vs. $352.7 million as expected by analysts, according
Shares of Yelp tanked after the company’s third quarter earnings report and guidance disappointed on Thursday. The stock was down by 30 percent in premarket trading Friday. The company reported revenue of $241 million for the quarter, just shy of analyst projections of $245 million. It also adjusted fourth quarter revenue guidance due to slower
If the Federal Reserve doesn’t raise interest rates in December, it could cause turmoil the stock market, former Wells Fargo CEO Dick Kovacevich told CNBC on Thursday. The central bank has recently come under attack by President Donald Trump, who has repeatedly criticized its decision to raise interest rates. Kovacevich said the Fed “has” to
Walt Disney reported fiscal fourth-quarter earnings and revenue that easily topped analysts’ expectations on Thursday. Here’s how the company did compared with what Wall Street expected: Earnings: $1.48 per share vs. $1.34 per share forecast by RefinitivRevenue: $14.31 billion vs. $13.73 billion forecast by Refinitiv In the year-ago quarter, Disney reported adjusted earnings of $1.07
Financials are lagging the market after falling nearly 10 percent from highs, while banks have tumbled 14 percent. Mark Newton, president of Newton Advisors, is long-term bullish on financials but sees recent weakness as a reason for caution. “I still believe that financials are trending higher, but we’re really within a downtrend that began at
ROBYN BECK | AFP | Getty Images TJ Smith fixes an ‘I Voted’ sticker on his shirt after basting his ballot at polling station during early voting for the mid-term elections in the Lakeview Terrace neighborhood of Los Angeles, California on November 4, 2018. When it came to tax measures on the ballot, midterm election
Throughout this year, the IRS has repeatedly reminded taxpayers to check their withholding at work — or in their pensions if they’re retired — to account for changes to the tax law. Nevertheless, the Government Accountability Office estimates that about 2 in 10 taxpayers will owe the IRS in 2019. That’s equal to about 30
Michael Short | Bloomberg | Getty Images Google employees hold signs during a walkout to protest how the tech giant handled sexual misconduct in Mountain View, California, U.S., on Thursday, Nov. 1, 2018. Google CEO Sundar Pichai just sent a memo to employees detailing changes to its sexual harassment and misconduct policies in the wake
If you expect to welcome a new baby to the family in 2019, cast a critical eye to your health benefits this fall. It’s open enrollment season, a time when many Americans sign up for a health plan for the coming year, including those through an employer or on government exchanges. Plenty make those decisions
California Democrat Rep. Maxine Waters said an investigation into President Trump’s personal financial dealings with Deutsche Bank is just one of several issues the House Financial Services Committee has on its plate. Waters, who is in line to take the chairman role on the committee next year when the Democrats take control of the House,
While the fraudulent offers can differ in the particulars, they are similar in that the goal is to get your personal information — i.e., your bank account number, Social Security number — and your money. For instance, you might be told you need to pay a one-time fee to apply, or that you need to
D.R. Horton shares fell more than 10 percent after the largest U.S. homebuilder forecast first-quarter home sales below analysts’ estimates on Thursday, the latest sign that rising mortgage rates and higher home prices are weighing on the housing market. The weakness in shares also hit other homebuilders’ stocks. PulteGroup fell 6 percent, while Lennar was
Roku shares fell 22 percent Thursday, their worst drop since the company had its IPO in September 2017, even though the company beat third-quarter earnings estimates on the top and bottom lines. One key metric that fell below expectations was platform revenue, which encompasses streaming advertising. Platform advertising is shaping up to be an increasingly
Have you always dreamed of whiling away your retirement years on an island somewhere but think it’s an economically unfeasible pipe dream? Think again, advise the editors at InternationalLiving.com, who have compiled a list of 11 “great value, picturesque islands across the globe” that are not only renowned for a welcoming atmosphere but also boast
Shares of Wynn Resorts dove 15 percent Thursday after the CEO said casino operator is seeing a “slowdown” at its Macau location, especially from high rollers. Though CEO Matthew Maddox said results were strong during China’s seven-day Golden Week holiday, attendance since then has been “choppy” during weekdays and “sporadic” on the weekends. “So what
Qualcomm beat analysts’ expectations for fourth-quarter revenue and profit on Wednesday, helped by demand from Chinese smartphone makers targeting emerging markets and a newer licensing model for its wireless technology that has soothed relations with some big customers. Shares of the company rose 1.5 percent in extended trading on Wednesday. Qualcomm is the world’s biggest
“Every single new product we’ve launched is doing very well,” he added. Shares of the company were up 1.8 percent on Thursday morning. Total revenue, however, fell 14 percent in dollar terms to $5.34 billion and core earnings per share, which exclude some items, were down 37 percent to 71 cents, reflecting lower income from
Holding an early Thanksgiving dinner, or even lunch, this year? Then Walmart wants you to head to its stores to party before you shop. The retailer said it will hold events in stores on Nov. 22, Thanksgiving Day, from 4 p.m. to 6 p.m. with free coffee and cookies. As it did last year, Walmart
Financial technology has reached a tipping point for China’s Ping An Technology and future growth in that area is set to be exponential, according to CEO Ericson Chan. Years of investment and research into fintech is paying off, Chan told CNBC’s “Squawk Box” on Thursday. “I think we are just hitting a tipping point because
If CNBC’s Jim Cramer knows one thing about the United States Congress, it’s that “a house divided against itself can produce some amazing profits” for investors, he said one day after the 2018 midterm elections. On Tuesday, the Democratic Party regained control in the House of Representatives, while the Republican Party maintained its majority in
Cisco Systems Inc.: “The CSCO kind should be bought right here. I’m telling club members of ActionAlertsPlus.com, ahead of next week’s big call, [to] buy, buy, buy! [CEO] Chuck Robbins is good.” Albemarle Corp.: “It had good numbers. It’s straight up. I still like it here. The numbers were terrific. Some people didn’t like the
The stocks of cloud companies like New Relic and Twilio are ripe for buying after a brutal series of October sell-offs, CNBC’s Jim Cramer said Wednesday. October was the worst month for the broader technology sector since the depths of the financial crisis, with the tech-heavy Nasdaq Composite seeing its most drastic drop since November
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