Finance

Tesla vehicles are displayed in a Manhattan dealership on September 08, 2020 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading: Bristol-Myers Squibb — Shares of the pharmaceutical company rose 1.2% after it announced positive interim results from a phase three trial of an immunotherapy drug

Take a look at some of the biggest movers in the premarket: Costco (COST) – Costco reported quarterly earnings of $3.04 per share, 20 cents a share above estimates. The warehouse retailer’s revenue also beat Wall Street forecasts. Comparable-store sales rose 11.4% compared to the 7.8% consensus estimate of analysts polled by Refinitiv. Costco also

With a little more than five weeks before Election Day, Allianz Global Investors’ Mona Mahajan speculates the worst of the correction is behind the market. She believes true fear on Wall Street is absent, and the current level of uncertainty should limit sharp upside and downside moves. “A lot of institutional investors buyers, especially, are

Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm reported quarterly profit of $1.70 per share, falling 3 cents a share short of Wall Street forecasts. Revenue also came in slightly shy of estimates and the company gave a weaker-than-expected current-quarter revenue forecast, as clients spend less

Economist Stephen Roach warns next year will be brutal for the dollar. Not only does he see growing odds of a double-dip recession, the Yale University senior fellow believes his “seemingly crazed idea” that the dollar would crash shouldn’t be so crazy anymore. “We’ve got data that’s confirmed both the saving and current account dynamic in

Spencer Platt | Getty Images Some JPMorgan Chase traders are upset that they only learned about a coronavirus case in their building last week from press reports, CNBC has learned. When the bank discovered that an employee on the fifth floor of its Manhattan headquarters had caught Covid-19, it quickly told those who had contact

Long-time tech analyst Gene Munster believes big tech is on the cusp of a major shift: It’s becoming a stock pickers’ market. The Loup Ventures founder and managing partner expects FAANG stocks, otherwise known as Facebook, Apple, Amazon, Netflix and Google, will fail to collectively rally like they did during most of 2020’s record run.

Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Bernstein upgraded Amazon to “outperform” from “market perform,” saying a 16% drop in the stock over the past few weeks has created an attractive entry point. Bernstein highlights Amazon’s growth prospects, noting a 50% increase this year in fulfillment capacity.

While the stock market continues to struggle, the dollar is kicking off the week around six-week highs.  However, Brown Brothers Harriman’s Win Thin warns the greenback won’t stay there because the backdrop supports another leg lower. He expects the U.S. Dollar Index  to test Feb. 2018 lows — which would be around the “88 and change”

A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York. Mark Kauzlarich | Bloomberg | Getty Images Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials. Shares of

People visit the Charging Bull Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. Tayfun Coskun | Anadolu Agency | Getty Images U.S. stock futures dipped on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year. Dow Jones

CEO of Tesla Motors Elon Musk reacts following the company’s initial public offering at the NASDAQ market in New York June 29, 2010 Brendan McDermid | Reuters Check out the companies making headlines in midday trading.  U.S. Steel — U.S. Steel shares popped more than 9% after the company reported a smaller-than-expected loss for its

A member of exchange staff uses a fixed-line telephone while looking at financial data on computer screens on the trading floor of Bats Europe, the European arm of Bats Global Markets Inc., in London, U.K.. Jason Alden/Bloomberg | Bloomberg | Getty Images Trading floors in banks have been immortalized in countless Hollywood movies. Chaotic scenes

A store displays a sign before closing down permanently in Arlington, Virginia. OLIVIER DOULIERY/AFP via Getty Images States are poised to raise taxes on businesses starting next year and cut jobless benefits for workers as the coronavirus-fueled downturn continues to stress unemployment systems around the country. Industries like bars and restaurants that were hit hardest

Well, that was fast. It took just 12 trading sessions for Apple to plunge more than 20% from its all-time high, shedding over half a trillion in market capitalization. The tech giant has lost 22.5% from its intraday record high of $137.98 from Sept. 2, losing around $536 billion in market value. Apple’s fast and

A symbol of TikTok (Douyin) is pictured at The Place shopping mall at dusk on August 22, 2020 in Beijing, China. VCG | Visual China Group | Getty Images BEIJING — The haggling over TikTok is the latest signal of a change in U.S.-China deal-making: rather than buying each other, companies may soon be looking to

Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021. But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market. “Companies are going to right-size their business,’ Nicholson told CNBC’s “Trading Nation” on Thursday. “This is going

Snowflake IPO begins trading at the NYSE on Sept. 16th, 2020. Source: NYSE So you think Snowflake up over 100% on its first day is a big deal? Nah, there’s been plenty of companies that have had first day pops bigger than that this year.  They include biotech firm CureVac, up 249% on the first

Julius Shakari, from California in full PPE gear, takes photos with his friend in front of the Charging Bull, sometimes referred to as the Wall Street Bull, a bronze sculpture in the Financial District of Manhattan New York May 19, 2020. Timothy A. Clary | AFP | Getty Images U.S. stock futures were flat on

The software business is on fire. This is going to be by far the biggest year for software IPOs in history. Four big software IPOs are pricing this week: Snowflake, Unity Software, Jfrog, and Sumo Logic. Palantir and Asana are coming at the end of September.   Snowflake priced its IPO at $120 per share, raising

U.S. stock futures were flat in overnight trading as investors readied for comments from the Federal Reserve on Wednesday.  Dow futures rose 12 points. S&P 500 and Nasdaq 100 futures were also set to open flat, with gains of 0.02% and 0.07%, respectively. Better-than-expected earnings from FedEx and Adobe after the bell boosted sentiment. FedEx

SINGAPORE — One of the biggest challenges that governments will face in the next decade is bringing down debt, a senior minister in Singapore said on Monday. Governments around the world have increased spending to support their economies hit hard by the coronavirus pandemic. Some have to borrow more to do so — which is a

Rhode Island Gov. Gina Raimondo. Barry Chin/The Boston Globe via Getty Images Minimum benefits Most states set a minimum unemployment benefit below $100 a week, which creates the conundrum for some workers. Rhode Island, for example, pays a minimum benefit of $53 per week. Gov. Gina Raimondo, a Democrat, signed an executive order temporarily raising

Big tech’s record win streak may just be on hiatus. Bryn Mawr’s Jeff Mills believes the group will regain its market leadership.  But before it does, he warns investors will have to brace for some more wild swings as the group works off major excesses. “Earlier in the summer, you had something like 85% or

People walk by the New York Stock Exchange (NYSE) on May 18, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months. Dow Jones Industrial Average futures traded 158 points higher, or

Desiree Pierce cries as she visits her home destroyed by the Almeda Fire, Friday, Sept. 11, 2020, in Talent, Ore. “I just needed to see it, to get some closure,” said Pierce. John Locher | AP Historic wildfires are burning millions of acres and destroying homes in California, Oregon and Washington state, as officials brace for

A photographer takes a picture of the thermometer reading 132 degrees Fahrenheit (55.5 Celsius) at the Furance Creek Visitors Station in Death Valley National Park, California, August 17, 2020. David Becker | Reuters The U.S. this summer has experienced stifling hot temperatures that have set all-time records and put millions of people under excessive heat

SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA/Kim Shiflett JPMorgan Chase thinks it’s found the next hot market for investors:  Taking stakes

Roberto Machado Noa Check out the companies making headlines midday Friday: Peloton — The exercise equipment maker’s stock jumped 2.5% after the company handily beat earnings expectations for the fourth quarter. The company earned 27 cents per share, compared with the 10 cents expected by analysts polled by Refinitiv. Sales surged 172% during the quarter

Tan Min Liang, the co-founder, CEO and executive director of Razer, at a press conference on the proposed listing of Razer at JW Marriott Hotel Hong Kong in Admiralty. Dickson Lee | South China Morning Post | Getty Images After applying to become a regulated bank in Singapore, gaming hardware firm Razer is now considering