Take a look at some of the biggest movers in the premarket: Walmart (WMT) – The retailer announced the sale of its British supermarket chain Asda for $8.8 billion. The buying group consists of private equity firm TDR Capital and the Issa brothers, founders of gasoline station chain EG Group. Uber Technologies (UBER) – Private
A United Airlines plane takes off above American Airlines planes on the tarmac at Los Angeles International Airport (LAX) on October 1, 2020. Mario Tama | Getty Images House Speaker Nancy Pelosi on Friday asked airlines to hold off on tens of thousands of job cuts that started this week, vowing additional aid for the battered sector,
A man fills out paperwork while waiting for his number to be called at an unemployment event in Tulsa, Oklahoma on July 15, 2020. Nick Oxford for The Washington Post | Getty Images Washington lawmakers say they are still optimistic that a coronavirus stimulus deal can go through. But if both political parties do not
Barry Sternlicht, Starwood Capital Group Chairman and CEO, speaking during the 2020 Delivering Alpha conference on Sept. 30th, 2020. CNBC Starwood’s Barry Sternlicht expects high flying technology stocks to fall from their heights if Former Vice President Joe Biden wins the 2020 election and Democrats take control of both chambers of Congress. ”Maybe long term, two,
Elon Musk is a self-made multi-billionaire, largely due to the success of SpaceX and Tesla. But “to be frank,” Musk tweeted on Sept. 19, “in the early days, I thought there was >90% chance that both SpaceX & Tesla would be worth $0.” Still, Musk moved forward with the longshot businesses, personally investing millions. Musk,
Check out the companies making headlines in midday trading. Twilio — shares of the cloud services company jumped 12% to a new all-time high after Twilio raised its forecast for third quarter revenue. The company said it is benefitting from the rise of remote work and education. Twilio is set to release its quarterly results
President Trump traveled to Bedminster, New Jersey for a roundtable event with supporters and a fundraising event. Drew Angerer | Getty Images The coronavirus works to infect all it can, world leaders included. President Donald Trump announced early Friday that he and first lady Melania Trump tested positive for the virus. White House chief of staff Mark Meadows said the
A woman, of Lexington, waits in a line outside a temporary unemployment office established by the Kentucky Labor Cabinet at the State Capitol Annex in Frankfort, Kentucky, U.S. June 17, 2020. Bryan Woolston | Reuters As workers who were brought back to their jobs after furloughs and layoffs due to the Covid-19 crisis face additional
CNBC’s Jim Cramer on Friday downplayed the stock market decline on President Donald Trump testing positive for the coronavirus, suggesting investors may want to consider buying on pullbacks. “I’m not saying this is much to do about nothing,” Cramer said on “Squawk Box.” ”I am saying that people should have a buy list ready.” Stock futures were sharply
Apartment sales in Manhattan plunged by 46% in the third quarter, as homebuyers continued to flow to the suburbs and Florida, according to new reports. There are now about 10,000 apartments for sale in Manhattan, which would be a record, according to Compass. With so many new listings pouring onto the market and so few
U.S. President Donald Trump approaches reporters as he departs on campaign travel to Minnesota from the South Lawn at the White House in Washington, September 30, 2020. Carlos Barria | Reuters Shares of companies tied closely to the economy reopening declined on Friday as President Donald Trump’s positive Covid-19 diagnosis raised concerns about a second
Jeff Lawson, CEO, Twilio Scott Mlyn | CNBC Shares of cloud communications company Twilio rose as much as 6% in extended trading on Thursday after the company said in a filing that it expects more third-quarter revenue than the $401 million to $406 million range it had provided in August. Analysts polled by Refinitiv had
Shoppers walk through The Mall at Short Hills shopping center on Black Friday in Short Hills, New Jersey, U.S., on Friday, Nov. 29, 2019. Gabby Jones | Bloomberg | Getty Images Black Friday has been losing its clout for years. The coronavirus pandemic could be what finishes it. The one-day event of doorbuster deals, packed mall
To pump out its famous flavors like Half Baked and Cherry Garcia, Ben & Jerry’s Vermont plants run 24-7, operated by hundreds of workers and flavor gurus. Business Insider visited the St. Albans factory back in 2019 to see how these iconic pints flip their way to our freezers. MORE BIG BUSINESS VIDEOS: How Restaurants
Speaker of the House Nancy Pelosi, D-Calif., speaks during her weekly news conference in the Capitol in Washington on Thursday, Sept. 24, 2020. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images As House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin try to hash out another coronavirus relief package, distressed business owners continue to
CNBC’s Scott Wapner talks to Chamath Palihapitiya, Social Capital Founder and Chief Executive Officer during the 2020 Delivering Alpha conference on Sept. 30th, 2020. CNBC Outspoken technology investor Chamath Palihapitiya said Wednesday that the Federal Reserve will have more influence over the markets in the next four years than whomever takes the White House in November.
Dr. Anthony Fauci is the nation’s leading expert on infectious disease, who is navigating a deadly global pandemic amid extreme political acrimony. So when things get stressful for the White House advisor, Fauci turns to what he calls his “favorite book of philosophy”: “The Godfather.” Fauci says the 1969 novel by Mario Puzo reminds him
Layoffs in several of the nation’s biggest industries are making headlines this week. The list includes Disney eliminating 28,000 employees connected to the coronavirus theme park shutdowns, United Airlines and American Airlines collectively planning to put 32,000 workers on furlough, and insurer Allstate cutting almost 4,000 jobs. But MKM Partners’ Michael Darda suggests it’s not the time to
Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo on Thursday reported its quarterly sales grew by more than 5% as consumers bought more of its Tostitos and pancake mixes. Shares of the company rose 2% in premarket trading. Here’s what the company reported compared with
Pfizer’s CEO Albert Bourla sent a memo to employees Thursday criticizing this weeks U.S. presidential debate as “disappointing,” saying the political rhetoric surrounding the outbreak and vaccine development is “undercutting public confidence.” “Once more, I was disappointed that the prevention for a deadly disease was discussed in political terms rather than scientific facts,” he wrote.
Tom Brenner | Reuters House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are still working on a compromise stimulus bill to help Americans cope with the coronavirus crisis. In an interview with Fox Business host Lou Dobbs on Wednesday, Mnuchin said second $1,200 stimulus checks that are “similar” to the first payments will be
sturti | E+ | Getty Images Alfred Abraham has had colon cancer, prostate cancer, open heart surgery and his left eye removed. Yet at 100, he’s still alive and well. Every day, he and his partner Brian eat fruit and salad and go for walks. He and his family were planning a big party to
A pedestrian outside the New York Stock Exchange in New York, July 29, 2020. Wang Ying | Xinhua News Agency | Getty Images The October market story is really complicated. If you thought September was confusing, October is not likely to be any better, and it could be significantly rockier. That’s because the “buckets” that
Geneva. Allan Baxter | Getty Images The Swiss city of Geneva is to introduce a minimum wage of 23 Swiss francs ($25) an hour, equal to roughly 3,772 Swiss francs ($4,100) a month for a 41-hour working week. Nearly two-thirds of the canton, or state, of Geneva on Sunday voted in favor of introducing the
Take a look at some of the biggest movers in the premarket: PepsiCo (PEP) – The snack and beverage giant reported quarterly profit of $1.66 per share, beating the consensus estimate of $1.49 a share. Revenue came in above estimates as well, boosted in part from increased snack purchases by homebound consumers. PepsiCo said it
Bed Bath & Beyond on Thursday reported its first same-store sales increase in nearly four years, as its online business surged more than 80% during the quarter, as shoppers stocked up on disposable face masks, college dorm decor and patio furniture. Its shares surged more than 16% in premarket trading. The company said it saw 2
Incoming Ford CEO Jim Farley (left) and Ford Executive Chairman Bill Ford Jr. pose with a 2021 F-150 during an event Sept. 17, 2020 at the company’s Michigan plant that produces the pickup. Michael Wayland / CNBC Ford Motor‘s new CEO Jim Farley is shaking up the company’s top ranks and restructuring operations as the
silvana magnaghi | Moment | Getty Images Tens of thousands of job cuts have been announced this week as a result of the ongoing coronavirus pandemic. With 28,000 employees expected to be laid off at Disney and 7,000 to 9,000 jobs cut at Royal Dutch Shell by the end of 2022, job losses are mounting
Joshua Harris, Apollo Global Management Co-Founder speaks during the 2020 Delivering Alpha conference on Sept. 30th, 2020. CNBC A notable private equity investor said Wednesday that the boom in special purpose acquisition companies was not just a passing fad. Apollo Global Management co-founder Joshua Harris said at the Delivering Alpha conference presented by CNBC and
According to Mark Cuban, a second stimulus package should give all American households a $1,000 stimulus check every two weeks for the next two months — and they must use that money within 10 days to promote spending and help keep businesses open. But Cuban’s “Shark Tank” co-star, Barbara Corcoran disagrees with her friend’s “use it