People load Clorox into their car in the Costco parking lot after the first confirmed case of coronavirus was announced in New York State, in Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters Costco reported stronger sales than analysts were expecting Thursday, thanks in part to a boost the company received from consumers stocking
Month: March 2020
A man runs past the New York Stock Exchange (NYSE). Bloomberg Hundreds of Wall Street traders are about to change their commute starting Monday. Citigroup is traders and salespeople from its headquarters in downtown Manhattan to a backup facility in Rutherford, New Jersey next week in contingency plans tied to the coronavirus, according to a
Traders work on the floor of the New York Stock Exchange on February 27, 2020. Scott Heins | Getty Images Fears that the fast-spreading coronavirus will disrupt global supply chains and tip the economy into a recession are gripping investors on Wall Street. In a tumultuous week for equities, the 30-stock Dow swung 1,000 points
No pain, no gain … no risk, no reward. As with most platitudes, you’ve likely heard those lines so many times that by now they’ve lost their meaning. Most of us understand that to amass enough savings to buy a first home, send a child to college or retire before 70, we have to surrender
The fear of flying caused by the coronavirus outbreak is reminiscent of 9/11, Southwest Airlines CEO Gary Kelly told CNBC on Thursday. “9/11 wasn’t an economically driven issue for travel. It was more fear, quite frankly, and I think that that’s really what’s manifested this time,” Kelly said on “The Exchange.” He said the lack of
A security guard stands in a greenhouse of Tilray medical cannabis producer’s European production site in Cantanhede, on April 24, 2018. Patricia De Melo Moreira | AFP | Getty Images Canada-based pot firm Tilray reported a bigger quarterly loss on Monday, hurt by an impairment charge related to its assets and higher costs, as oversupply
Robinhood co-founder and co-CEO Vlad Tenev speaks onstage during the TechCrunch Disrupt New York event on May 10, 2016. Noam Galai | Getty Images for TechCrunch Rivals to popular investing app Robinhood aren’t jumping at the opportunity to celebrate the company’s recent outage. The U.S. commission-free trading platform experienced a massive outage that began on
My first experience with the small, but rapidly growing movement to eliminate handshaking was in a chiropractic office in Singapore two weeks ago. “Are you shaking hands? Some people aren’t these days,” the chiro said, extending his hand before awkwardly retracting it. I did — to break the oddness of the moment — but
Traders work on the floor at the New York Stock Exchange, March 2, 2020. Brendan McDermid | Reuters The world economy will bounce back quickly from the coronavirus outbreak, and investors should buy into cyclical stocks to catch the comeback, a top JPMorgan strategist said. The hit to the global economy during the first quarter
golero | Getty Images Longevity. Leaving work to care for kids or parents. Earning less. These are the headwinds most talked about among women when it comes to the retirement challenges many of them face. Women have retirement balances that are half the size of men’s, according to data from the Vanguard Center for Investor Research.
A man wearing a face mask walks past a deliveryman as he waits outside a Starbucks store as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters Starbucks warned investors on Thursday that store closures in China due to the coronavirus outbreak are
Hyatt Regency Orlando International Airport. Source: Orlando International Airport Hyatt Hotels said on Monday it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand. The company had previously forecast adjusted profit for 2020 between $760 million and $780 million. Greater China revenue per available room (RevPAR) has been
A visitor holding a revolver by US manufacturer Smith & Wesson (S&W) at the IWA OutdoorClassics trade show for hunting, shooting sports, equipment for outdoor activities and for civilian and official security applications. Daniel Karmann | picture alliance | Getty Images Check out the companies making headlines after the bell. American Outdoor Brands — The gun
Greycroft chairman Alan Patricof said Thursday the recent market pullback was a “blip” and that investors should remain calm. “This is a blip, and we’ve seen a lot of blips in the last 20 years,” Patricof said on CNBC’s “Closing Bell.” Stocks sold off dramatically again on Thursday, continuing a volatile period of trading that
US President Donald Trump makes his way to board Marine One before departing from the South Lawn of the White House in Washington, DC on March 2, 2020. Mandel Ngan | AFP | Getty Images President Donald Trump is giving away part of his salary to help stop coronavirus, and he just might be able
People wearing protective masks sit with a Minnie Mouse balloon inside the departure hall at West Kowloon Station, operated by MTR Corp., in Hong Kong, China, on Tuesday, Jan. 28, 2020. Justin Chin | Bloomberg | Getty Images The spread of coronavirus and cutbacks in domestic and international airline schedules continue to raise concerns and
A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic
The “Fast Money” traders share their first moves for the market open. Tim Seymour was a buyer of Home Depot. Steve Grasso was a buyer of Snap. Dan Nathan was a buyer of JetBlue. Guy Adami was a buyer of Occidental Petroleum. Disclaimer Trader disclosure: Tim Seymour is long AMZA, AMZN, AAPL, ACBFF, ACRGF, ALEF, ACB,
Wall Street Democrat Roger Altman told CNBC on Thursday that the stock market’s reaction to Joe Biden‘s resurgence in the Democratic presidential primary is because his chief rival, Sen. Bernie Sanders, is viewed as unelectable. “The greater the extent that Biden is seen as the Democratic nominee, I think investors will be comforted,” Altman said
Sam Zell, who made his fortune scooping up distressed assets, told CNBC on Thursday that he’s been taking advantage of the stock market’s volatility. The billionaire founder of Equity Group Investments said in a “Squawk Box” interview, “We’ve been buying some stuff that we thought was ridiculously low” in the recent coronavirus-driven sell-offs on Wall
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