A box containing a 5-minute test for COVID-19 from Abbott Laboratories is pictured during the daily briefing on the novel coronavirus, COVID-19, in the Rose Garden of the White House in Washington, DC, on March 30, 2020. Mandel Ngan | AFP | Getty Images Abbott Laboratories says it is ramping up production of its coronavirus test
An Uber Eats food delivery courier closes a bag with an order during a lockdown, imposed to prevent the spread of coronavirus disease (COVID-19), in central Kiev, Ukraine April 2, 2020. Valentyn Ogirenko | Reuters Check out the companies making headlines after the bell. Gilead Sciences — The pharmaceutical company’s stock surged 13% in extended trading
Asian consumers are tightening their belts as they prepare for a coronavirus-induced hit to their finances, according to a new study. Shoppers in China, South Korea, India, Japan and Indonesia have cut back on clothing, skincare and electronics purchases as concerns mount over the outlook for incomes and savings as the pandemic rattles economies across the
Larry Fink, chief executive officer of BlackRock Inc., pauses ahead of a Bloomberg Television interview at the Blackrock Inc. wealth symposium in Zurich, Switzerland, on Thursday, March 7, 2019 Stefan Wermuth | Bloomberg via Getty Images Larry Fink, co-founder of the world’s biggest money management firm, told CNBC on Thursday the stock market’s coronavirus low
Don’t count on being able to get emergency cash from your 401(k) account, even if a new law says you can. While the recently passed CARES Act included provisions to make it easier to access your retirement money penalty free for coronavirus-related reasons, it’s up to employers whether to implement the legislative changes. And at
Robert Herjavec said his role as an investor on ”Shark Tank” makes him optimistic about the U.S. economy on the other side of the coronavirus pandemic. “The human condition is about hope,” Herjavec said Thursday on CNBC’s “Squawk Alley.” “Every time someone comes on ‘Shark Tank,’ they’re full of hope and they’re full of optimism.” “This is a
A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018. Stephen Lam | Reuters Gilead Sciences shares surged by more than 15% in after-hours trading Thursday after details leaked of a closely watched clinical trial of the company’s antiviral drug Remdesivir appeared to show promising results in treating Covid-19. The University
The world’s biggest asset manager BlackRock saw the capital it manages fall by almost $1 trillion in the first quarter as investors pulled money out of its marquee funds amid the most damaging stock market selloff in more than a decade. The company, a huge figure on global financial markets, reported a 23% drop in quarterly
Investor Peter Boockvar anticipates another 20% pullback could hit the market. The Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Thursday that the coronavirus’ economic fallout is trapping the S&P 500 in a trading range. “A lot of the bad news that we’re seeing now in terms of the numbers were priced
When Laura Nadal attempted to use the IRS Get My Payment tool to track her stimulus check, she was met with a series of error messages. After multiple attempts over two days to track her payment, she’s still unable to and doesn’t understand why. The tool keeps telling her that the information she inputs does
SpaceX CEO Elon Musk speaks at a press conference where he announced the Japanese billionaire chosen by the company to fly around the moon, on September 17, 2018 in Hawthorne, California. Mario Tama | Getty Images SpaceX is launching more often than any other country or company and CEO Elon Musk touted low insurance costs as proof
Wondering where your coronavirus stimulus payment is? The delay could be due to a glitch related to your tax preparation service. A new report from The Washington Post on Thursday estimates that millions of Americans could still be waiting to see their stimulus money if they previously filed their taxes with companies like TurboTax, H&R
Rep. Greg Murphy, R-N.C., said Thursday he believes there are ways for businesses such as barbershops and salons to reopen safely during the coronavirus pandemic. Murphy, a urologist who was elected to Congress in 2019, said on CNBC’s ”The Exchange” that restrictions should remain in place for people who are “most at risk, most susceptible” to
Getty Images Sales of new vehicles to U.S. consumers declined less than expected at the beginning April despite the coronavirus outbreak and state orders keeping most dealer showrooms closed across the country, according to J.D. Power. After U.S. auto plants closed and most states enacted “stay-at-home” or “shelter-in-place” orders last month, J.D. Power expected year-over-year sales
Morgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations and warned that a sole bright spot for the industry, robust trading results, may prove to be fleeting. The bank said in a release that earnings dropped 30% to $1.7 billion, or $1.01 a share, compared with the $1.14 estimate of analysts surveyed by Refinitiv. Companywide
Morgan Stanley CEO James Gorman sees the coronavirus-induced global recession lasting for the entirety of this year and 2021. When asked about how a potential economic recovery expected in the second half of this year would take shape, Gorman said that while he hopes it will be a sharp “V” recovery, in reality it will
A person in their car arrives to receive an unemployment application being given out by City of Hialeah employees in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. Joe Raedle | Getty Images Throughout April we commemorate Financial Literacy Month, a time to recognize the work of our field,
CNBC’s Jim Cramer on Wednesday made a case for investors to choose individual stock picking over index funds going through market turmoil. The “Mad Money” host laid out a “shelter-in-place” list of companies that he projects can cut through the global economic challenges set off by the coronavirus pandemic. “For years, lots of very smart
A view of new York State Department of labor office in Flushing Queens during coronavirus pandemic on April 12, 2020. More than 10% american workers have applied for unemployment benefits as of April 11, 2020. (Photo by John Nacion/NurPhoto via Getty Images) NurPhoto Americans are filing for unemployment benefits in record numbers, and scammers are
Amazon’s dominance has been solidified during the coronavirus pandemic, but the consequences of that are complicated, CNBC’s Jim Cramer said Thursday. “Amazon is either the Grim Reaper for everyone or the greatest thing that’s ever happened to the American consumer. Or maybe both,” Cramer said on “Squawk on the Street.” “Has Amazon not become a country