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
Finance
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
George Lee, Partner, Goldman Sachs Stephen McCarthy | Sportsfile | Corbis | Getty Images Wall Street giant Goldman Sachs is increasingly going head-to-head with the biggest tech companies for talent as it rapidly boosts its engineering talent, said George Lee, the bank’s co-Chief Investment Officer. Speaking onstage at Goldman’s Technology and Internet Conference in San
Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Under Armour — Under Armour’s stock plunged more than 18% after missing revenue estimates for the fourth quarter. The sports apparel company reported adjusted earnings of 10 cents per share, in
Shoppers enter a building housing a Bed Bath & Beyond Inc. store in New York. Mark Kauzlarich | Bloomberg | Getty Images Check out the companies making headlines after the bell: Lyft – The ridesharing company’s stock fell more than 5% in extended trading after reporting fourth-quarter financial results that beat expectations but did not
Yunus Arakon | E+ | Getty Images Investor money ensnared in alleged Ponzi schemes has hit its highest level in a decade, leading to concern that a booming stock market and de-regulatory agenda are pushing more fraudsters to bilk unsuspecting investors. State and federal authorities uncovered 60 alleged Ponzi schemes last year with a total
Monzo co-founder and CEO Tom Blomfield. Monzo Tom Blomfield doesn’t think big banks will ever undergo a digital transformation. The British fintech entrepreneur says banking behemoths like Barclays and HSBC are saddled with outdated technology and a risk-averse culture to respond to the challenge that upstarts like his digital bank, Monzo, present. “The banks really
People pass by the New York Stock Exchange. Brendan McDermid | Reuters Check out the companies making headlines after the bell: Chegg – The American education technology company’s stock dropped more than 4% in extended trading despite reporting financial results that beat on the top and bottom line. The company reported a fourth-quarter profit of
A volunteer measures a passenger’s body temperature. In light of a coronavirus outbreak in China, Hong Kong district councillors and residents formed makeshift quarantine stations, screening passengers arriving from China, Feb. 4, 2020. Willie Siau | SOPA Images | LightRocket | Getty Images Concern about the coronavirus is weighing heavily on the outlook for first
A worker inspects an order at a JD.com delivery station in Yizhuang, Beijing, amid the coronavirus outbreak. Hilary Pan | CNBC BEIJING — More people are stuck at home in China as they wait out the coronavirus outbreak, giving some delivery and e-commerce companies an opportunity, even as they try to manage the risks of
Canada Goose (GOOS) – The outerwear maker reported better-than-expected profit and revenue for its fiscal third quarter, but also said the coronavirus outbreak is having a “material negative impact” during the current quarter. The company did add that no supply chain interruptions have occurred as a result of the virus. Hanesbrands (HBI) – The underwear
Traders work on the floor of the New York Stock Exchange. Spencer Platt | Getty Images This is a live blog. Check back for updates. 8:07 am: Jobs report approaches The Labor Department’s report on nonfarm payrolls for January will set the tone for Friday. The consensus expectation is for a net gain of 158,000 jobs
Edward ‘Ed’ Hyman, chairman of Evercore Partners Inc. Christopher Goodney | Bloomberg | Getty Images Evercore ISI Chairman Ed Hyman said he sees no economic growth in China in the first quarter due to the deadly coronavirus. The market pullback Friday “is still a worry about the virus,” Hyman said on CNBC’s “Squawk on the
A frozen section of the Ross Sea at the Scott Base in Antarctica on November 12, 2016. Mark Ralston | AFP | Getty Images Antarctica just broke its hottest temperature ever recorded at 64.9 degrees Fahrenheit as climate change continues to accelerate, according to measurements from an Argentinian research station thermometer. The reading was taken
eBay’s headquarters in San Jose, California, U.S. Bloomberg | Getty Images The e-commerce giant eBay more closely resembles the New York Stock Exchange than it does Amazon, at least in the eyes of Intercontinental Exchange CEO Jeffrey Sprecher. “I’m not sure that it’s been fair for the market to hold eBay accountable as an e-commerce company
Credit Suisse CEO Tidjane Thiam FAFabrice Coffrini | AFP | Getty Images Credit Suisse CEO Tidjane Thiam is to step down as on Feb. 14 and will be replaced by Thomas Gottstein. The news follows a long drawn-out spying scandal at the bank. An internal investigation by law firm Homburger into the spying scandal which
Pinterest screen on a mobile phone Source: Pinterest Check out the companies making headlines after the bell: Pinterest — The online scrapbook company’s stock rose more than 17% in extended trading after it beat analysts’ estimates for fourth-quarter revenue and monthly active users. Pinterest reported fourth-quarter earnings of 12 cents per share excluding some items
The Leuthold Group’s Jim Paulsen expects stocks to rally higher into record territory due to stronger economic and earnings growth. But his bullish forecast comes with a warning — and it has nothing to do with the coronavirus outbreak. “If we [economy] continue to grow, you’re going to see consumer prices, wages, commodity prices —
Dara Khosrowshahi, CEO of Uber, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan,. 22nd, 2020. Adam Galici | CNBC Here are the most important things to know about Thursday before you hit the door. 1. Uber another loss? Uber is set to report its fourth-quarter earnings after
A Qualcomm sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Aly Song | Reuters Check out the companies making headlines after the bell: Qualcomm – The semiconductor company’s stock dropped about 4% in extended trading though the company beat analysts’ estimates on both the top and