Take a look at some of the biggest movers in the premarket: Slack Technologies (WORK) – The provider of the popular workplace messaging platform announced a $600 million debt offering due in 2025, convertible into cash, stock, or a combination of both depending on the holder’s preference. Zoom Video Communications (ZM) – Credit Suisse downgraded
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Taylor Denchfield has been flipping homes since he was 17. Source: Taylor Denchfield As job losses climb into the millions due to the coronavirus pandemic, laid-off workers increasingly can’t make the rent. That’s also bad news for small landlords. Unlike large real estate companies and REITs that own multiple rental buildings, small, so-called mom and
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The stock market could still touch new lows as uncertainty around the coronavirus pandemic persists, Mohamed El-Erian said Friday.  “I don’t think we’re forming a bottom yet. I think we’re going down at a slower rate,” the chief economic advisor at Allianz said on CNBC’s “Squawk Box.” “There is a very important distinction there.”  Calling a
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Workers at a Bozzuto multifamily job site in Chevy Chase, MD. Diana Olick | CNBC Construction has been deemed essential by the federal government, but a growing number of residential construction workers are pulling back, worried about catching the coronavirus. While overall construction employment fell in March, according to the Bureau of Labor Statistics, residential
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One of the major reasons behind the rapid development of the cryptocurrency space is the presence of crypto exchanges, and Coinbase is one of the most influential exchanges in the world. On Wednesday, the company further strengthened its bets in the decentralized finance (DeFi) applications space by announcing a fresh round of investments. Major Investment
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This is breaking news. Please check back for updates. Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily. “One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well right now in this enforced lockdown.
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New York City, the hotspot of the COVID-19 crisis in the U.S., received a hit from Wall Street late Wednesday when Moody’s Investors Service revised its rating on the city’s general obligation bonds to negative from stable. “The rapid and widening spread of the outbreak, deteriorating global economic outlook, falling oil prices, and financial market
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The coronavirus appears to be splitting the mortgage market: More borrowers are refinancing to save money on monthly payments, while potential homebuyers are backing away fast.  Driven entirely by refinancing, total mortgage application volume increased 15.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 67% higher
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The NCAA, after canceling winter and spring championships that include its lucrative “March Madness” men’s basketball tournament, was hit with a negative outlook. Moody’s Investors Service lowered its outlook on the organization’s Aa2 rating to negative from stable March 23.. S&P Global Ratings rates the Indianapolis-based organization AA, outlook stable. The organization has roughly $9.6
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