Amazon reported its first-quarter earnings after the bell on Thursday, revealing the pandemic’s impact on the business that has been a rare bright spot on the stock market. The stock fell about 5% after hours after missing estimates on earnings while beating revenue expectations. Here’s what Amazon reported: Earnings per share (EPS): $5.01 Revenue: $75.45 billion
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
Gargiulo Produce opened in 1929 as a fruit and vegetable cart selling door-to-door. Over 90 years later, the company now wholesales food to businesses across the East Coast. In 2020, the coronavirus shut down many of Gargiulo’s commercial accounts and left it looking for ways to get produce into the hands of hungry, isolated customers.
A cyclist passes a boarded up store during the coronavirus pandemic on April 28, 2020 in New York City. John Lamparski | Getty Images April’s 12% rally in the S&P 500 has been based largely on hopes for a reopening of the U.S. economy, but if you want to know how fragile the reopening may
Over 90 years ago, Frank Gargiulo opened a business selling fruits and vegetables door to door. Now Gargiulo Produce is based in a warehouse in Hillside, New Jersey, and in its fourth generation of family ownership. It sells food by the truckloads to companies all along the East Coast and to cruise ships that travel
The World Health Organization defended Friday its initial response to the coronavirus pandemic, saying it gave world leaders enough time to intervene early in the outbreak. The agency declared Covid-19 a global health emergency on Jan. 30 when there were only 82 cases outside of China and zero deaths, WHO Director-General Dr. Tedros Adhanom Ghebreyesus
Popeyes Chicken Sandwich Source: Popeyes Louisiana Kitchen Restaurant Brands posted an over 26% jump in first-quarter comparable sales at Popeyes on Friday, but it said that sales at its breakfast and coffee chain Tim Hortons were hit due to coronavirus-led restrictions. The company, however, warned of a more significant impact from the pandemic on its
CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day 25 of 30. Just a few months ago, millions
Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on September 13, 2016. Heidi Gutman | CNBC Carl Icahn knows the oil and gas industry very well and has arguably made more of his fortune in this industry than any other single industry. His next energy bet could pay off through a
The private student loan market has been growing for a decade, and now, amid an economy on near lock-down from the coronavirus pandemic, borrowers find themselves with few relief options. That’s one of the takeaways from a new report by the Student Borrower Protection Center, a nonprofit started last year by Seth Frotman, former assistant
Valerie Riley, owner of LifeSquire, a company with 22 employees based in Oklahoma City, got $140,000 in loan funding through the second round of the Paycheck Protection Program. Valerie Riley A forgivable loan program that re-opened for small businesses this week has proven much less chaotic than the initial round, according to some business owners
Lucas Gebel makes sausage while processing hogs at Elma Locker & Grocery on July 25, 2018 in Elma, Iowa. Scott Olson | Getty Images About 3% of workers in over 100 meat processing plants have tested positive for the coronavirus as conditions allow the virus to spread rapidly and low-wage workers are incentivized to continue
Family Dollar Store, anti-bacterial wipes and cleaning products. Jeff Greenberg | Getty Images Clorox on Friday reported that its fiscal-third quarter sales climbed 15% as consumer demand for its cleaning products soared in response to the coronavirus pandemic. Shares of the company rose 3% in premarket trading. Here’s what the company reported for the quarter
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
Even under normal circumstances, keeping a roof over your head is a top financial priority. But the coronavirus has complicated the situation for both homeowners and renters. Millions of Americans are worried about whether or not they’ll be able to make their rent or mortgage payments, and they also have logistical questions around whether state stay-at-home orders and social
NASA Administrator Jim Bridenstine, left, and SpaceX Chief Engineer Elon Musk, right, speak to press in front of the Crew Dragon that is being prepared for the Demo-2 mission. NASA/Aubrey Gemignani NASA Administrator Jim Bridenstine believes the billions his agency has invested in Elon Musk’s SpaceX have been well worth it as the company prepares
Helen H. Richardson | Denver Post | Getty Images If you own a home and you’re looking for some emergency funding, you may be running out of opportunities. Home equity lines of credit allow you to borrow against the equity you’ve accumulated in your home, be it for a surprise cash need or a home
Mark Cuban told CNBC on Friday he believes small businesses in Texas face numerous challenges in trying to reopen safely and effectively during the coronavirus pandemic. “There’s all these downstream issues that really haven’t been addressed yet, and small businesses haven’t been provided the support they need to actually get open,” said the Dallas Mavericks owner and
A woman wearing a face mask as a preventive measure against the spread of the COVID-19 Coronavirus, runs with Cruise Ships docked in the background at the port of Long Beach, California on April 11, 2020. Apu Gomes | AFP | Getty Images The U.S. House Committee on Transportation and Infrastructure on Friday called for Carnival
A Nabors Industries worker uses a power washer to clean the floor of a rig drilling for Chevron in the Permian Basin near Midland, Texas, March 1, 2018. Daniel Acker | Bloomberg | Getty Images Chevron warned Friday in its quarterly earnings report that results will remain depressed as long as oil prices remain low, and