Check out the companies making headlines in midday trading. Zoom Video — Shares of the video conferencing giant popped nearly 2% after an analyst at Bernstein named the stock a top pick for 2021. The analyst said his call was based on the growth in Zoom’s Phone business. Exxon — The oil giant slid more
Finance
President-elect Joe Biden’s proposed stimulus plan is the right medicine for an economy likely to see substandard growth in the first half of 2021, Boston Federal Reserve President Eric Rosengren said Friday. As the first central bank official called to publicly speak on the Biden plan, he said he was comfortable with the aggressive fiscal
A man walks past a Wells Fargo Bank branch on a rainy morning in Washington. Gary Cameron | Reuters Wells Fargo released on Friday mixed results for the fourth quarter of 2020, sending the bank’s stock lower. Here’s how the numbers compared to Wall Street expectations: Earnings: 64 per share vs. Refinitiv estimate of 60
Wall Street may be in for a surprise. Ally Invest’s Lindsey Bell believes investors are underestimating the strength of earnings season, which kicks off Friday with the banks. “That’s my biggest call going into this earnings season,” the firm’s chief investment strategist told CNBC’s “Trading Nation” on Thursday. Refinitiv predicts S&P 500 fourth-quarter earnings results
Chip Somodevilla | Getty Images News | Getty Images President-elect Joe Biden’s pandemic relief package would extend income support for millions of unemployed workers through September 2021 and increase jobless benefits by $400 a week, according to an outline obtained by CNBC. Biden would also phase out higher unemployment benefits automatically over time, tying aid
Take a look at some of the biggest movers in the premarket: GameStop (GME) – GameStop is jumping once again in premarket trading after surging the past three days in what some analysts are calling a short squeeze. The video game retailer’s stock was up more than 57% in Wednesday’s session alone. The stock is
At 34 years old, Nikhil Kamath is one of India’s youngest billionaires. The Bangalore-born entrepreneur snagged the title late last year after joining Forbes India Rich List with his brother and co-founder, Nithin. It followed the runaway success of their stock trading platform Zerodha amid the pandemic. But the chief investment officer insists that it
Pedestrians pass in front of a Nordstrom Inc. store in the Midtown neighborhood of New York, on March 20, 2020. Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines after the bell Wednesday: Nordstrom — The retailer’s stock fell more than 3% after the retailer said its holiday period sales dropped
Win McNamee | Getty Images News | Getty Images The recent Covid relief package offers 11 extra weeks of jobless benefits to workers. Many, but not all, will be eligible for four more, for a total of 15 weeks. However, they won’t get a $300 weekly increase in benefits during that four-week period. The $900
A worker pours molten iron into a mold at a mill manufacturing marine engine components in Huaian, Jiangsu province, China February 11, 2019. Reuters BEIJING — Financial institutions are betting on more business opportunities in China’s finance industry, which Beijing is eager to crack open — even if analysts say major changes are a long
Esther George, President & CEO of Kansas City Reserve Bank during the annual Jackson Hole symposium in Wyoming on August 23, 2019. Gerard Miller | CNBC Long-dormant inflation could rebound more quickly than anticipated as the economy shakes off the effects of the coronavirus pandemic, Kansas City Federal Reserve President Esther George said Tuesday. Current
Take a look at some of the biggest movers in the premarket: Albertson’s (ACI) – The grocery store operator reported quarterly earnings of 66 cents per share, beating the 42 cents a share consensus estimate. Revenue also beat forecasts. Albertsons raised its full-year earnings forecast to $3.05 to $3.15 per share from the prior $2.75
The logo for payments start-up Checkout.com. Checkout.com LONDON — Online payments firm Checkout.com is now Europe’s top tech unicorn. Checkout.com said Tuesday that it had raised $450 million in an investment led by Tiger Global Management — which is also an investor in rival payments giant Stripe — lifting its valuation to $15 billion. That’s
Cars drive past a Walmart store in Washington, DC, on August 18, 2020. Nicholas Kamm | AFP | Getty Images Walmart said Monday that it’s creating a fintech start-up with Ribbit Capital, one of the investment firms behind Robinhood. The big-box retailer did not share the name of the new company or say when its
Take a look at some of the biggest movers in the premarket: Twitter (TWTR) – Twitter shares are falling sharply in premarket trading after the company permanently suspended President Donald Trump’s account. Twitter said it took the action due to the risk of further incitement of violence. Shares of Twitter were down 6.7% in premarket
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., second left, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, April 10, 2019. Andrew Harrer | Bloomberg | Getty Images JPMorgan Chase and Citigroup were among the first major financial firms to say they will pause political action committee
Take a look at some of the biggest movers in the premarket: Tesla (TSLA) – Tesla remains on watch after rising for 10 sessions in a row, surpassing Facebook (FB) in market value, and making CEO Elon Musk the world’s richest person. The company’s shares rose 3.8% in premarket trading as of 7:35 a.m. ET.
In this photo illustration, visual representations of the digital cryptocurrency, Bitcoin are arranged on January 4, 2021 in Katwijk, Netherlands. Yuriko Nakao | Getty Images Bitcoin’s price rallied to a fresh all-time high on Friday, smashing past $41,000 for the first time as investors increasingly view the cryptocurrency as an inflation hedge. The world’s most
William Li, founder and chairman of Nio, shares features of the et7 sedan at a launch event in Chengdu, China, on Jan. 9, 2021. Evelyn Cheng | CNBC BEIJING — Chinese electric car start-up Nio released its first sedan on Saturday with self-driving technology features that the company claims surpass that of Tesla. Pre-subsidy prices
The Going Jessies. Derek Wood (center), Angela Paradis (right) and James Breeding (left) Photo: Derek Wood Derek Wood was about to achieve a lifelong dream. Unemployment benefits may prove to be his foil. Wood, 49, a guitar player and songwriter from the Little Rock, Ark., area, who sings with a soulful country-blues croon, quit his