This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1,996,600 Global deaths: At least 127,590 US cases: More than 609,600 US deaths: At least 26,059 The data
UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth, the largest U.S. health insurer, on Wednesday beat quarterly profit expectations, boosted by strength across its businesses, and maintained its 2020 outlook while it continues to assess the impact of COVID-19. Shares of the company were up 2.6% at $277.50 before the opening bell. The
Earnings season may look ugly, but Crossmark’s Global Investments’ Victoria Fernandez isn’t getting discouraged. She believes there are opportunities in the coronavirus battered market. “We’ve seen some already. If you look at some of the health care names — UnitedHealth gave a good report,” the firm’s chief market strategist told CNBC’s “Trading Nation” on Wednesday.
Billionaire Mark Cuban has always been cautious when it comes to bitcoin – despite being an investor in businesses built on cryptocurrency and even personally investing in bitcoin himself, he frequently warns others to be careful because he finds it to be a gamble. Cuban has gone as far as to say he would “rather have bananas than bitcoin” because
Girl wearing mask and gloves in grocery store Phynart Studio New data shows the government’s coronavirus stimulus checks are providing much-needed relief to Americans struggling with day-to-day living costs. Data compiled by digital bank Current found members who received stimulus payments over the past five days spent 16% of the money on food, including takeout
Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. William Thomas Cain | Getty Images If you’re receiving Supplemental Security Income benefits, you will get your coronavirus stimulus payment automatically, the government said on Wednesday. The payments will come the same way you
Larry Sprung, president of Mitlin Financial in Hauppauge, New York, was able to begin the application process with Bank of America when the Paycheck Protection Program opened April 3. Larry Sprung A forgivable loan program meant to help ailing small businesses has met with much criticism amid delays, confusion and frustration. But some small-business owners
Shoppers exit a Bed Bath & Beyond store in New York. Michael Nagle | Bloomberg | Getty Images Bed Bath & Beyond reported Wednesday fiscal fourth-quarter results that topped analysts’ estimates, but warned it could not make predictions for 2020 due to the coronavirus pandemic. The company said that despite widespread, temporary store closures, it still
Bank of America said Wednesday that first-quarter profit slumped 45% as the company set aside $3.6 billion for loan-loss reserves because of the coronavirus pandemic. The bank posted profit of $4.01 billion, or 40 cents a share, compared with the 46 cent estimate of analysts surveyed by Refinitiv. Revenue of $22.8 billion essentially matched expectations, and
A pilot walks by United Airlines planes as they sit parked at gates at San Francisco International Airport on April 12, 2020 in San Francisco, California. Justin Sullivan | Getty Images Check out the companies making headlines after the bell. Bed Bath & Beyond — The home goods retailer’s stock soared 12% in extended trading
Editor’s note: This article has been updated with comment from the IRS. A tool launched Wednesday by the Internal Revenue Service to track Americans’ stimulus relief checks is not working for many, according to individuals who reached out to CNBC Make It. The Get My Payment tool is meant to give those eligible for a
Alex Gorsky, Chairman and CEO of Johnson & Johnson, rings the opening bell to celebrate the 75th anniversary of his company’s listing at the New York Stock Exchange, September 17, 2019. Brendan McDermid | Reuters Johnson & Johnson surprised investors with a modest dividend increase of 6.3%, followed by Procter & Gamble, which raised its
Damir Khabirov | iStock | Getty Images Some Americans who are eagerly awaiting their coronavirus stimulus payments may be in for an unwelcome surprise: less money than they had expected. News that $1,200 payments are coming to individuals and $2,400 for couples has made headlines since Congress passed the CARES Act in March. Dependents are
Junior’s Cheesecake owner Alan Rosen on Wednesday defended his decision to leave his restaurant employees on furlough despite receiving money from the Treasury Department’s newly created small business loan program. Rosen told CNBC on Wednesday that he believes keeping the 650 workers on furlough, for the time being, is in the long-term best interest of the business
A bottle of Prasco Laboratories Hydroxychloroquine Sulphate is arranged for a photograph in the Queens borough of New York, U.S., on Tuesday, April 7, 2020. Christopher Occhicone | Bloomberg | Getty Images Researchers are working as quickly as science will allow to determine whether hydroxychloroquine, a decades-old malaria drug touted by President Donald Trump as
David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Shannon Stapleton | Reuters Goldman Sachs reported first-quarter earnings before the opening bell Wednesday. Goldman Sachs earned $3.11 a share in the first quarter with revenue of $8.74 billion. Goldman shares are lower by 1.6% in
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
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 eight of 30. If you are worried about losing
U.S. banks are not hesitating to set aside billions of dollars in case of coronavirus-driven loan losses because it allows them to mask substantial increases in quarterly trading revenue, Mohamed El-Erian said Wednesday. The chief economic advisor at Allianz acknowledged on CNBC that banks are certainly adding to their credit reserves in an anticipation of a wave of defaults related to the
Our brains are wired to look for danger and react quickly to an approaching attack; however, this most recent threat is invisible, but no less distressing to our primitive brains. Plummeting stock prices are sending some investors over the edge, leading to irrational behavior that has dire long-term financial repercussions. In his book, “Your Money