The Lordstown Motors Corp. Endurance electric pickup truck is displayed during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Shares of DiamondPeak Holdings, a special purpose acquisition company, jumped more than 20% during premarket trading on Monday after the company announced that it will
Take a look at some of the biggest movers in the premarket: ADT (ADT) – Alphabet’s (GOOGL) Google unit will invest $450 million for a 6.6% stake in ADT, as part of a partnership that will see ADT offer Google’s Nest smart home devices to its customers. Each company will also commit $150 million to
Pre-covid, a table in an active adult community developer’s welcome center shows remaining inventory … [+] in various sections. Photographer: Patrick T. Fallon/Bloomberg BLOOMBERG NEWS Florida has had some well-publicized challenges lately, but homebuilders statewide are seeing a continued rebound of demand from buyers that surprises even them. Building company executives and owners I’ve spoken
Vodafone’s heat-detection camera captures a person walking into an office building. Vodafone As employers around the world figure out how best to return workers to the office, tech companies are hoping that gadgets and software could help the process. The coronavirus pandemic and resulting lockdowns have left offices around the world empty. And while there’s
The Lexington-Fayette, Ky., Urban County Government Public Facilities Corp. will sell by competitive bid $33.19 million of taxable refunding bonds on Tuesday, in its first-ever “scoop and toss” deal. The bonds will restructure up to three years of payments on bonds issued by the Kentucky Bond Development Corp. in 2018 to finance a comprehensive renovation
CNBC’s Jim Cramer said President Donald Trump’s Thursday morning tweet that suggested delaying the November election could cause problems for equity investors. “It sows chaos, and chaos is bad for the stock market,” Cramer said on “Squawk on the Street.” Dow futures extended their fall slightly in the wake of Trump’s tweet. They then made
Jason Gorevic, CEO, Teladoc Scott Mlyn | CNBC Earnings reports are coming in fast and furiously, and with a large percentage of companies declining to provide guidance, reporters and analysts are combing through corporate press releases and earnings calls for signs of how business is doing. Semiconductors continue to be the all-round winner Equipment maker
A woman works at a distrubiton station at the 855,000-square-foot Amazon fulfillment center in Staten Island, New York, on February 5, 2019. Johannes EIsele | AFP | Getty Images Check out the companies making headlines after the bell: Facebook — The social media giant’s stock surged 6% in extended trading following the release of the company’s
As we roll toward the half-year mark of the COVID-19 pandemic, the effects on work, office space, and focus have been profound. Executives can now be found working out of what had been guest rooms, attics, or walk-in closets. The need to work in corporate offices, once considered indispensable, is now being rethought in its
The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens
Municipal bond buyers will see a varied slate of new deals heading their way, with taxable deals leading the slate. The largest issue on the calendar is a $900 million taxable general obligation bond deal from the state of Hawaii. Municipals continued to strengthen, with yields steady to down as much as two basis points
During its third quarter earnings results on Thursday Apple said that the company’s shareholders approved a four-for-one stock split. Stock splits are cosmetic, meaning they do not change anything about a company’s underlying fundamentals. They can lead to renewed interest from smaller investors by making the shares — which are now cheaper — more accessible.
Shake Shack, one of the many storefront businesses boarded in downtown Brooklyn over the fears of looting. Erik McGregor | Getty Images Just looking at the earnings for Apple, Amazon, Facebook and Google, you might get the impression that everything is going swimmingly for second- and third-quarter earnings. But that’s not the case. “We continue to
A pedestrian wearing a face mask looks at a smartphone while passing in front of the New York Stock Exchange (NYSE) in New York, on Monday, July 20, 2020. Michael Nagle | Bloomberg | Getty Images The market could lose some of its exuberance in the week ahead as the calendar turns to August, and
Shot of Corridor in Working Data Center Full of Rack Servers and Supercomputers with Blue Neon … [+] Visualization Projection of Data Transmission Through High Speed Internet. getty In a nutshell, QTS Realty kicked off data center REIT earnings last week hitting on all cylinders and raising FY 2020 Guidance across the board, including revenue,
Couple buying a new house. PeopleImages | Getty Images A Roth individual retirement account is often cited as a way to save for your golden years. It could also help you buy a house. In a nutshell, up to $10,000 in earnings can be withdrawn from such an account — free of both taxes and
Fitch Ratings Friday revised the outlook to negative on the United States’ sovereign rating. The rating agency affirmed its AAA rating on the United States’ long-term foreign-currency and local-currency issuer default ratings while dropping the outlook from stable. Fitch Ratings revised its outlook on the United States’ AAA rating to negative from stable. Fitch said
Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
Amazon, Facebook, and Apple are only the most recent examples of a notable trend: earnings much better than expected. The reopening story may be getting rocky, but one pleasant surprise has been earnings. They are far noisier than normal, but in general they have been better than expected. Much better. And that is one of
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker reported quarterly earnings of $1.03 per share, beating the 64 cents a share consensus estimate. Revenue also topped forecasts. The beat came even as sales tumbled from a year ago due to a pandemic-related slump in
Wanda Group’s Chairman Wang Jianlin delivers a speech at China University of Political Science and … [+] Law on May 12, 2017 in Beijing, China. Visual China Group via Getty Images/Visual China Group via Getty Images Wang Jianlin’s conglomerate is offloading another overseas asset to reduce its debt. Wanda Hotel Development Co., a Hong Kong-listed
The luxury retail market in mainland China has been “very, very strong” from April to July and is likely to hold up well for the rest of the year as long as there is no strong resurgence of the coronavirus, says Ronnie Chan, chairman of Hang Lung Group and its subsidiary Hang Lung Properties. 02:26
The California Supreme Court failed to take up the California Rule in its most recent decision in a pension case, instead issuing a narrow ruling on the case’s merits. The court did affirm the state’s right to eliminate pension spiking, a reform outlined in the Public Employees’ Pension Reform Act of 2013, a law championed
CNBC’s Jim Cramer urged investors Monday to remain cautious about the length of time it takes to develop a successful coronavirus vaccine, saying that Massachusetts-based biotech firm Moderna may be painting too rosy of a picture. “It’s not a simple case. You don’t just say, ‘Hey, look at this. These people didn’t get Covid over a couple weeks.’
The stock market is holding up well because it believes three things are happening: 1) a vaccine is coming, 2) there will be almost infinite stimulus from the Federal Reserve, and 3) the second quarter was the worst quarter for corporate profits and those profits will slowly improve. But there’s a subtext to much of
Take a look at some of the biggest movers in the premarket: Procter & Gamble (PG) – The consumer products company earned $1.16 per share for its fiscal fourth quarter, 15 cents a share above estimates. Revenue came in above forecasts as well. Organic sales rose 6%, with particular strength in cleaning products boosted by
Couple and receptionist at counter in hotel wearing medical masks as precaution against virus. Young … [+] couple on a business trip doing check-in at the hotel Getty Prior to the Covid pandemic, hotel occupancy rates were hitting record highs and average daily rates (ADRs) were rising. Now, with the possible exception of restaurants and
Introduction Creating a financially secure life can feel like a daunting task that requires the skills of expert mapmaker and GPS programmer. You need to figure out where you are today and where you want to get to. As if that’s not a big enough lift, you’re then in charge of finding the best route
Federal Reserve Board Chairman Jerome Powell said the economy seems to be slowing anew as many states see coronavirus cases rising, and the Fed will do what it needs to do and doesn’t expect to raise rates anytime soon. The post-meeting statement from the Federal Open Market Committee said the path of the economy will
Virgin Galactic is giving its customers a first look inside the cabin that will carry them to the edge of space and back, as the space tourism company gets closer to finishing development of its spacecraft. “Every seat is a window seat,” Virgin Galactic design director Jeremy Brown told CNBC about the interior. The cabin’s design
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