People who love to hate Crocs had cause to celebrate in 2008, when investors were writing the company off as a passing fad. Crocs lost over $185 million that year. The stock plunged to just over $1 a share. But over the next decade, Crocs sold 700 million pairs of shoes. The clogs have have
Marc Andreessen, co-founder and general partner of Andreessen Horowitz David Paul Morris | Bloomberg | Getty Images Amid a sharp pullback in venture capital activity during the coronavirus pandemic, one Silicon Valley start-up is showing what could be a path forward for other new companies seeking funding. The business, a payroll platform for remote workers
A health worker handles a blood sample on the first day of a free Covid-19 antibody testing event in Florida. Paul Hennessey | Barcroft Media | Getty Images U.S. officials and scientists are hopeful a vaccine to prevent Covid-19 will be ready in the first half of 2021 — 12 to 18 months since Chinese scientists first
Hero Images | Getty Images One bad side effect of losing your job can be the end of employer-subsidized health insurance. For anyone in the 65-and-older crowd who is now unemployed (or had coverage through a now-unemployed spouse), that’s when Medicare can step in. While some in that cohort may already have signed up for
Lowe’s reported same-store sales growth of more than 11% for the first quarter as Americans stayed home and invested in spring-time home improvement projects, but investor excitement fizzled as the company warned sales could “moderate” later in the year. The company benefited in the quarter from the home improvement industry’s busiest time of the year, spring,
It may be time to explore contrarian plays. Wells Fargo Securities’ Christopher Harvey is telling investors the best opportunities are in the hardest hit parts of the stock market. He believes the potential rewards outweigh the risks. “Start adding cyclicality. Start adding value. Start adding risk,” the firm’s head of equity strategy told CNBC’s “Trading
We’ve all been looking for new ways to stay productive lately, particularly when it comes to work. Whether laid off, furloughed or adapting to new ways of working, more and more of us are spending time honing our skills as we adapt to the fast-changing jobs market. That has caused demand for online learning to
Richard Branson’s Virgin Orbit, with a rocket under the wing of a modified Boeing 747 jetliner, takes off for a key drop test of its high-altitude launch system for satellites from Mojave, California, July 10, 2019. Mike Blake | Reuters Sir Richard Branson‘s Virgin Orbit is set to conduct its first orbital rocket launch as
Scientists in Singapore are developing a vaccine for the coronavirus, with hopes that early-stage clinical trials could come as soon as next month, according to a professor at Duke-NUS Medical School. Researchers at Duke-NUS Medical School are currently working on a vaccine which will be similar to the one that biotechnology firm Moderna is developing,
Steven Mnuchin, U.S. Treasury secretary, speaks during a virtual Senate Banking Committee hearing seen on a laptop computer in Tiskilwa, Illinois, U.S., on Tuesday, May 19, 2020. Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin testified on the $2.2 trillion virus rescue package passed by the Congress in March. Photographer: Daniel Acker/Bloomberg via
Tracy Singleton, owner of Birchwood Café in Minneapolis, Minnesota, remains cautious about reopening. “I don’t feel safe having people walk into my environment yet,” she says. Tracy Singleton Like many small business owners, Edgar Comellas, owner of Aces Wild Entertainment in Florida, has seen business grind to a halt since March. His company, which arranges
With the coronavirus shutdown keeping so many at home, people are playing a lot of video games these days. That captive audience has been a huge boost for Take-Two Interactive, which closed at an all-time high on Tuesday and is trading even higher ahead of Wednesday afternoon’s earnings report. The publisher of leading sports franchises such
Lowe’s announced Wednesday that it would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy. Lowe’s is dishing out the funds to help small businesses, especially home improvement professionals, in need of masks, personal protective equipment and other supplies to operate safely. The new funds follow $340 million of
On Friday, President Donald Trump announced a “massive scientific, industrial, and logistical endeavor” called “Operation Warp Speed,” to find, manufacture and distribute a proven vaccine against Covid-19, hopefully before the end of the year. To achieve this “great national project,” as Trump called it, will take a collaboration of American businesses, scientists, the federal government
Ricky Sandler, founder and chief executive officer of Eminence Capital LP, speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 1, 2018. Patrick T. Fallon | Bloomberg | Getty Images A hedge fund chief who had a bullish view of the stock market when
Anna Wintour, the longtime editor of Vogue, said Wednesday that the coronavirus pandemic has been “catastrophic” for the fashion industry, devastating emerging designers and big retailers alike. “I think it’s really giving the industry a pause,” Wintour said on CNBC’s “Closing Bell.” ”I think everybody is rethinking what the fashion industry stands for, what it means,
Tom Werner Next year, the IRS will allow people to put away even more money in health savings accounts, a tax-advantaged account you can use for medical expenses. Health savings accounts work alongside high deductible health plans. You can save money on a pretax or tax-deductible basis, have it grow tax free and then use
CNBC’s Jim Cramer said Wednesday that governments forcing some retailers to close and others to stay open was “somewhat rigged” and has permanently damaged smaller businesses. “If you were Walmart, the thing you would most want to do is have the government shut down your competition, and that happened,” Cramer said on “Squawk Box.” Cramer’s
Target‘s digital sales fueled first-quarter gains, but the big-box retailer’s earnings results Wednesday showed it paid a hefty price for that growth as labor costs rose and sales of higher-margin items like apparel dropped. Shares were down less than 1% Wednesday morning. Target stores have remained open across the country during the coronavirus pandemic, but
More help will be needed from the Federal Reserve and Congress to get the economy through its slump, Dallas Fed President Robert Kaplan told CNBC on Wednesday. At least some of that aid likely will need to go to state and local governments, which have been hampered by lost revenue during the coronavirus pandemic, Kaplan said