Microsoft founder Bill Gates Lintao Zhang/Getty Images Billionaire and Microsoft co-founder Bill Gates said the coronavirus that has killed at least 2,859 people and infected more than 83,700 globally may be the “once-in-a-century pathogen we’ve been worried about.” “I hope it’s not that bad, but we should assume it will be until we know otherwise,”
Budweiser beer products manufactured by Anheuser-Busch InBev NV sit on display during a news conference in Hong Kong, China, on Thursday, July 4, 2019. Kyle Lam | Bloomberg | Getty Images The world’s largest brewer Anheuser-Busch InBev forecast a 10% decline in first-quarter profit on Thursday after the coronavirus outbreak hit beer sales during the
A customer exits a Big Lots store in Clifton, New Jersey. Emile Wamsteker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Big Lots — Shares of Big Lots tumbled nearly 30% after the retailer posted a quarterly earnings miss. The company reported earnings per share of $2.39 in the
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill. Daniel Acker | Bloomberg | Getty Images Consumer-staples giant Clorox, along with 10 other stocks have emerged as the definitive anti-coronavirus trades, as the only S&P 500 stocks avoiding correction territory. While the broader market craters, the well-known maker of bleach
Communal living space in California Source: Haven There’s a new solution for millennials struggling with rising rents, but it has a familiar feel. Communal living, or co-living, brings together a group of people, likely strangers, in a shared space. Often, there are private sleeping quarters but the kitchens and work areas are communal spaces. It’s
WASHINGTON – A.J. Khubani took a chance when he pulled a seat up to President Donald Trump’s table at the golf club in Bedminster, New Jersey nearly two years ago. “Once we said counterfeits on Amazon, that’s all we had to say, we had his attention,” Khubani told CNBC. Khubani explained to the president how
Rolls-Royce Phantom Source: Rolls-Royce Phantom Sales of Rolls-Royces have fallen “pretty close to zero” in China because of the coronavirus, but the company sees early signs of possible recovery, the company’s CEO told CNBC. Rolls Royce said sales in China, its second largest market after the U.S., were hit especially hard as many parts of
A woman shops for clothing at the JC Penney store in the Roosevelt Field Mall in Garden City, New York. Saul Martinez | Bloomberg | Getty Images J.C. Penney‘s fourth-quarter earnings on Thursday topped analysts’ expectations, despite steep sales declines during the holiday season. While CEO Jill Soltau said she has been encouraged by Penney’s
A trader reacts on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 5, 2019. Brendan McDermid | Reuters The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices. The equity benchmark lost $203 billion in value on Friday,
In light of the tumultuous move in global stocks this week, I found it comforting, in that it-could-be-worse sense, to think about some excessively priced assets I’ve watched up close, as well as from a distance. One day within the dot.com bubble stands out very clearly. In December 1999, I sat in my mother-in-law’s room
If you plan to travel abroad and are worried about medical coverage due to the coronavirus outbreak, there may not be a need to panic — or cancel your trip — just yet. Travel insurance policies that include emergency medical and evacuation coverage are still available, although the situation is fluid and could change as
This is a live blog. Please check back for updates. All times below are in Beijing time. Total confirmed cases: More than 85,000 Total deaths: At least 2,861 3:45 pm: Kuwait health ministry urges citizens not to travel A health ministry official has called on citizens in Kuwait to avoid travel due the coronavirus outbreak,
A staff member displays a burger with a Beyond Meat plant-based patty at VeggieWorld fair in Beijing, China November 8, 2019. Jason Lee | Reuters Beyond Meat on Thursday reported quarterly revenue that topped analysts’ expectations but disappointed investors by falling shy of reporting a second profitable quarter. Shares of the company fell 6% in
Traders work at the New York Stock Exchange in New York, the United States, on Jan. 8, 2020. Xinhua News Agency Stock investors just experienced one of the nastiest weeks in history that recorded the S&P 500‘s fastest correction on record, but hold on tight, the market might have more room to fall as the
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Brendan McDermid | Reuters Amid the wreckage in global stock markets this week as panic over the spread of coronavirus wiped out $6 trillion in value, one corner of Wall Street has been making a mint.
AscentXmedia When it comes to your 401(k), there’s one piece of advice that most financial experts agree on in market routs like this: Stay the course. That means fighting the natural temptation to log into your investment account and react to the market’s big swings. However, many investors are not taking that advice, according to
Walmart logo is seen at a store in Mountain View, California, United States on Tuesday, November 19, 2019. Yichuan Cao | NurPhoto | Getty Images Walmart has named Jamie Iannone its chief operating officer for U.S. e-commerce, after the Sam’s Club executive helped oversee digital initiatives for the retailer’s membership-based subsidiary. In a company memo
Heather Bresch, CEO of Mylan. Adam Jeffery | CNBC Drugmaker Mylan said on Thursday it expects the coronavirus outbreak to impact its financial results and warned of drug shortages in case of continued spread of the virus, sending shares of the company down 3.6%. The outbreak has so far mainly battered China, causing nearly 80,000
Traders work on the floor of the New York Stock Exchange, January 27, 2020. Spencer Platt The U.S. stock market suffered a historic pullback this week as the coronavirus spread outside of China, spooking investors and traders out of equities. The Dow Jones Industrial Average and S&P 500 each dropped 12% and 11% for the
Following the worst week for stocks since the financial crisis, UBS‘s Jason Katz said Friday investors should “take a deep breath” and have a moment of introspection over the weekend. “Reflect on the fact that the markets had a made meaningful move up last year and up until recently, and that corrections are par for