A Beyond Burger, a vegan veggie burger, is seen at the Vedang fast food restaurant in the Mall of Berlin on May 18, 2019 in Berlin, Germany. With fast food chains such as Burger King, Chick-Fil-A, Taco Bell and Dunkin’ Donuts now offering ‘fake meat’ versions of their main meal options, the vegan burger industry
Investing
Billionaire investor Leon Cooperman teared up on Monday as he discussed the political divide in the U.S. and his concerns about the American dream. “I care,” the hedge-fund manager answered on CNBC’s “Halftime Report,” tearing up after CNBC’s Scott Wapner asked why he has been so vocal about the 2020 election. Cooperman’s response came in
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America decided to move up an increase in the company’s minimum to early 2020 from 2021. The company announced Monday that its workers will earn a minimum of $20 per hour starting by the end of next year’s first quarter. Bank of America’s
Getty Images Stocks that pay big dividends haven’t been this cheap in at least 40 years, according to Goldman Sachs. The valuation gap between high- and low-dividend-yield stocks is close to the widest it has been since around 1980, the bank said. The market is pricing in “an overly pessimistic” level of dividend payouts with
TOPSHOT – A vehicle passes an anti-Brexit pro-Irish unity billboard seen from the Dublin road in Newry, Northern Ireland, on October 1, 2019 on the border between Newry in Northern Ireland and Dundalk in the Irish Republic. – Britain will give the EU new proposals for a Brexit deal “shortly”, Prime Minister Boris Johnson said
A Delta Air Lines jet taxis beyond parked Southwest Airlines planes at McCarran International Airport September 12, 2005 in Las Vegas, Nevada. Ethan Miller| Getty Images Here are the biggest calls on Wall Street on Friday: Citi initiated Delta Airlines & United Airlines as ‘buy’ Citi initiated several airline stocks and said it liked Delta’s
An employee passes the Google logo. Carsten Koall/Getty Images Democrats and Republicans don’t agree on much these days, but their mutual distrust of big tech stocks poses an underappreciated threat to companies like Google and Facebook, according to Goldman Sachs. And while the Department of Justice and the Federal Trade Commission already announced investigations into
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images Federal prosecutors have asked for two civil cases against J.P. Morgan Chase be put on hold until they have finished a related criminal prosecution involving current and former precious metals traders at the nation’s largest
The market is breaking out as global economic data is taking the edge off the slowdown narrative. The marginal mover of stocks this year has been the Federal Reserve, trade, and the global economic slowdown, led by weakness in Europe and China. The global economic slowdown has even encompassed worries about a slowdown in the
Chevron reported a 36% decline in third-quarter earnings as lower oil and natural gas prices offset an increase in production. Chevron earned $2.6 billion in the third quarter, down from $4 billion a year earlier. Both EPS and revenue missed the Street’s expectations. The stock was about 1% lower in early trading. Chevron said that
CNBC’s Jim Cramer said Thursday he still believes Apple’s stock is undervalued, even with nearly 60% run higher in 2019, nearly triple the pace of the overall stock market this year. “This is a company that has a multiple that’s way too low given the fact that it’s consistent and China does not seem to
Exxon and Chevron report earnings on Friday before the bell as energy companies continue to struggle, pressured by falling oil prices, waning demand and squeezed margins. The Street is expecting Exxon’s earnings to plummet by more than 50% from a year ago. For Chevron, it’s a more modest 29% decline. Exxon Exxon is expected to
New Apple Watches Source: Apple Apple turned in stronger than expected fourth-quarter results but a second consecutive quarter of strong growth for wearables impressed analysts, who are looking for the tech giant to innovate beyond the iPhone. “Wearables continue to lead growth. Many investors attributed 50% wearables growth in the June quarter to shorter lead
The Federal Reserve just cut interest rates for the third time this year and said it will likely pause from here. That scenario is usually very good for stocks. CNBC used Kensho, a hedge fund analytics tool, to track what happened to the market after the Fed cut interest rates at least three times. In
Former Exxon CEO Rex Tillerson said the company tried to understand the impact of climate change, and tried to accurately communicate the impact to shareholders, as he testified on Wednesday in New York during the second week of a trial against the oil giant. The case, brought by New York Attorney General Letitia James, alleges
US Federal Reserve Chair Jerome Powell attends a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images On the eve of the Federal Reserve’s announcement, some on Wall Street started to get flashbacks to Chair Jerome Powell’s communication miscues in the past. “We would not be surprised
More people could be in danger from rising sea levels than previously thought, a new study says. The report, published on Tuesday by Nature Communications, found that by the end of the century as many as 630 million people could live on land below projected flood levels. This is three times greater than prior estimates.
Traders work the floor of the New York Stock Exchange. Getty Images This stock market rally to records is starting to look shaky. The S&P 500 refreshed its record again on Tuesday ahead of an expected rate cut from the Federal Reserve, but looking under the hood, investors are increasingly flocking to one of the
The S&P 500 surged to a new all-time high on Monday, and Goldman Sachs says the bull market will keep on rolling into 2020 on the back of three big buyers: corporations, foreign investors and US households. Companies will spend $470 billion on stocks next year, with foreign investors and US households contributing $50 billion
Dara Khosrowshahi Patrick T. Fallon | Bloomberg | Getty Images Ride-hailing giant Uber is making a deeper push into financial services. The company announced on Monday the formation of a new division called Uber Money to house its efforts, which include a digital wallet and upgraded debit and credit cards. The emphasis, at first, will