A man wears a mask as he passes the New York Stock Exchange. Mark Lennihan | AP U.S. equities rallied on Friday, despite a historic jobs report showing more than 20 million Americans lost their jobs in April, bringing the unemployment rate to a staggering 14.7% due to the coronavirus shutdown. Investors shrugged off the
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Check out the companies making headlines before the bell: SeaWorld Entertainment – The theme park operator reported a quarterly loss of 72 cents per share, 2 cents wider than expected, while revenue fell below estimates. SeaWorld closed its parks in mid-March due to the coronavirus outbreak, but said it remains confident in the resiliency of
People wait in line as SF-Marin Food Bank hands out 1600 food bags in San Francisco on April 20, 2020. Work furloughs and layoffs created by coronavirus shelter-in-place orders are driving thousands to seek food assistance. San Francisco Chronicle | Hearst Newspapers via Getty Images A record number of Americans just lost their job, and
U.S. stock futures rose early Friday morning after more gains in tech led to the Nasdaq Composite erasing all of its losses for 2020. Dow Jones Industrial Average futures were up by 235 points, implying an opening gain of about 276 points on Friday. S&P 500 and Nasdaq 100 futures also pointed to Friday opening
An airline pilot walks in front of a Tripadvisor store in Toronto Pearson airport. (Photo by Geovien So/SOPA Images/LightRocket via Getty Images) Geovien So | SOPA Images | LightRocket via Getty Images Check out the companies making headlines after the bell. Booking Holdings — The travel booking service’s stock whipsawed in extended trading after the
Lloyd Blankfein, the ex-Goldman Sachs CEO whose bank accepted bailout funds during the financial crisis, said that large companies should be “very reluctant” to take taxpayer money amid the coronavirus pandemic. “Big companies should be very reluctant to take government money,” Blankfein said Thursday on CNBC’s Squawk Box in response to a question about how
A person walks past a Virgin Media mobile phone store, closed down due to the Covid-19 pandemic, in London on May 4, 2020. Tolga Akmen | AFP via Getty Images Liberty Global and Telefonica have agreed to combine their U.K. operations in a deal that will create a new giant in the country’s telecommunications industry.
One of the world’s leading authorities on Asia is worried Wall Street is miscalculating China’s efforts to reopen its economy. While it’s going relatively smoothly on the supply side, Yale University senior fellow Stephen Roach warns the demand side is struggling, and that’s a bad sign for the U.S. economy as it begins reopening. “Chinese consumers
Norwegian Cruise Line raised more than $2 billion in a mix of stock and debt, ensuring the company can outlast the coronavirus pandemic for at least the next year without any revenue if necessary, the company announced Wednesday. The company warned Tuesday that it might not have enough funding to get through the next 12 months. The fresh
Chinese authorities lifted a more than two-month ban on outbound travel from the city where the global pandemic first emerged. Hecto Retamal | AFP | Getty Images Millions of Chinese people kept their spending down during the first major holiday in China since the coronavirus outbreak. During the Labor Day holiday that ran from May 1
‘I see rates rising continuously’ “Forty years of a bull market in bonds. It’s really hard to turn your head around, and say could this be a turning point? But I think history will say yes,” said Siegel. “I see rates rising continuously over the next several years.” Coronavirus risks sparked a flight to safety
A shopper wears a protective mask while browsing through the Island Cotton Company store as the state of Florida enters phase one of the plan to reopen the state on May 4, 2020 in Stuart, Florida. Joe Raedle | Getty Images The U.S. services sector contracted for the first time in about a decade last
Branches of State Bank Of India, Syndicate Bank and Canara Bank in New Delhi, India. Pradeep Gaur | Mint | Getty Images India’s economic recovery from the coronavirus crisis could be delayed if banks stop lending to borrowers with low credit scores, or charge them a much higher interest on loans. The financial sector faces
Dan Rosensweig, CEO, Chegg Scott Mlyn | CNBC Check out the companies making headlines after the bell. Shake Shack — The burger chain’s stock whipsawed in extended trading after the company provided its first-quarter earnings. Shake Shack said it had earnings of 2 cents per share excluding some items on revenue of $143.2 million, while
Take a look at some of the biggest movers in the premarket: Tyson Foods (TSN) – The beef and poultry producer reported quarterly earnings of 77 cents per share, compared to a consensus estimate of $1.04 a share. Revenue also came in below forecasts, with Tyson saying it faced multiple challenges due to the Covid-19
A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland, on April 24, 2018. Stefan Wermuth | Bloomberg | Getty Images Gold prices could “break the highs” seen earlier this year, after declining in March along with assets across the board, according
A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York City, New York, March 6, 2020. Andrew Kelly | Reuters Stock futures fell on Sunday night as traders weighed the reopening of the economy along with brewing tensions between China and the U.S. Dow Jones
Warren Buffett Gerry Miller | CNBC Warren Buffett said Saturday he is optimistic that the U.S. economy will re-emerge even after being dealt a body blow by the coronavirus pandemic. “Nothing can basically stop America,” said Buffett, chairman and CEO of Berkshire Hathaway, from the conglomerate’s first virtual shareholder’s meeting from Omaha, Nebraska. “The American
Take a look at some of the biggest movers in the premarket: Exxon Mobil (XOM) – Exxon posted a GAAP loss of 14 cents per share, and a non-GAAP profit of 53 cents per share. The consensus estimate was for a breakeven quarter. The company announced a 30% cut in capital spending and will also
9:04 am: Chevron CEO says oil demand has bottomed Chevron CEO Michael Wirth said that the drop-off in demand wrought by the coronavirus pandemic has likely reached a bottom. “This quarter looks like in our industry we’re seeing a bottom … first quarter we were on a bit of a downward trajectory through the quarter, certainly