Barbie dolls for sale at a Target store. Scott Mlyn | CNBC Mattel turned in mixed fourth-quarter results after holiday revenue was weighed down by continuing sales declines in its American Girl and Fisher-Price brands. The company’s stock initially dropped, but now was up about 5% in extended trading, after posting the results. Sales during
Month: February 2020
A screen displays the transaction volume of the 24-hour Alibaba Singles’ Day global shopping festival at the company’s headquarters in Hangzhou, China, November 12, 2019. Reuters China’s Alibaba beat analysts’ estimates for quarterly results on Thursday, driven by record sales during its annual Singles’ Day shopping blitz and demand for its cloud computing business. The e-commerce
People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Brendan McDermid | Reuters Check out the companies making headlines after the bell: Roku – Shares of the streaming company jumped 5% in extended
Tesla has a long way to go before it justifies its current stock price, New York University finance professor Aswath Damodaran told CNBC on Thursday. Damodaran, known as the “dean of valuation” for his company analyses, said the electric-auto maker would need to have revenues comparable to the Volkswagen Group in 10 years, margins similar
Tetra Images | Getty Images In a world where much of consumer banking has gone high-tech, the most costly scams involve an old-school tool: checks. At about $2,000 a pop, fake-check scams cheated consumers out of more than $28 million in 2019, according to the Federal Trade Commission. That per-instance amount is more than six
A man pushes a man on wheelchair past a propaganda banner on a wall in a hutong, following an outbreak of the novel coronavirus in the country, in Beijing, China February 11, 2020. The Chinese characters on the banner read, “Strengthen self-protection, do not panic, believe in science, do not spread rumours”. Tingshu Wang |
Kraft and Heinz products Scott Olson | Getty Images Kraft Heinz said Thursday it would be pushing back the unveiling of its turnaround plan from March to May. The announcement came as the company saw its sales decline in the fourth quarter, despite higher prices. Net sales fell 5.1% to $6.54 billion, missing Wall Street’s
St. Clare’s Hospital was everything to Jerry and Kathy Adach. They married after meeting at the Schenectady, New York area hospital, where both worked, in the early ’80s. Their two daughters were born there. The couple, who devoted a combined 59 years of service to the facility, had expected to retire with a good pension
Tesla shares slid after the electric automaker said it plans a $2 billion common stock offering, just two weeks after CEO Elon Musk said the company would not take advantage of its surging stock to raise more capital. Musk himself will buy as much as $10 million of stock in this offering, while Tesla board member Larry Ellison
As taxpayers roll into the second tax-filing season under the Tax Cuts and Jobs Act, one question remains: “Will I come out ahead in 2019?” The IRS began accepting 2019 tax returns on Jan. 27 and anticipates it will receive more than 150 million individual returns this year. Thus far, the agency has delivered 4.3
Medical staff check a patient’s condition at a temporary hospital converted from “Wuhan Livingroom” in Wuhan, central China’s Hubei Province, Feb. 10, 2020. Xiong Qi | Xinhua | Getty Images Small businesses in New York’s Chinatown are losing customers over “unfounded” coronavirus fears, the city’s small business chief told CNBC on Thursday. “Business owners are
An American couple who vacationed on the now-quarantined Diamond Princess cruise ship together could be at risk of returning home alone. Rebecca Frasure has been in isolation in a Tokyo hospital away from her husband, Kent, since Friday when she was diagnosed with the novel coronavirus that has reached epidemic levels in China and become
PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. Shares of the company rose less than 1% in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.45, adjusted, vs. $1.44 expected Revenue: $20.67 billion, vs.
DBS Group Holdings in the central business district of Singapore. Nicky Loh | Bloomberg | Getty Images The ongoing spread of a new coronavirus disease, recently named COVID-19, could hit the revenue of Southeast Asia’s largest bank this year, its chief executive said on Thursday. Piyush Gupta, the CEO of Singaporean bank DBS, said the
If you’re a CEO hoping to give your stock a boost over time, you may want to start mentioning “growth” and “expansion” more often on earnings calls. Shares of companies with chief executives who made liberal use of positive words to describe financials during earnings conference calls outperformed those at businesses with more reserved CEOs,
A Social Security Administration office in San Francisco. Getty Images President Donald Trump has publicly vowed to protect Social Security. Yet advocates for the program fear that his just released budget proposal would hit individuals hard when it comes to disability benefits, as it includes cuts to the tune of $71 billion, according to one
Shoppers enter a Kohl’s store in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Kohl’s is laying off 250 people as it restructures parts of its business following a dismal holiday season. The changes will help Kohl’s streamline communications and eliminate the overlap of management positions, Kohl’s senior vice president of communications, Jen Johnson,
Airplane fuselages bound for Boeing’s 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc, in Wichita, Kansas, U.S. December 17, 2019. Nick Oxford | Reuters Boeing warned Wednesday that the coronavirus outbreak could hurt aircraft deliveries in the first quarter of the year, as traffic in Asia
Cisco Systems headquarters Getty Images Check out the companies making headlines after the bell: Cisco Systems – Shares of the networking hardware company dropped 4% in extended trading despite reporting strong second-quarter results that beat analysts’ estimates. Cisco reported earnings of 77 cents a share excluding some items on revenue of $12.01 billion while analysts
Charles Munger David A. Grogan | CNBC Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime business partner, issued a dire warning about the future on Wednesday. “I think there are lots of troubles coming,” he said at the Los Angeles-based Daily Journal annual shareholders meeting. “There’s too much wretched excess.” Munger —
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