Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus. The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which
Business
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a
As the coronavirus spreads across the globe, and travel disruptions — from visas cancellations to flight suspensions — increase by the day, many people are wondering what to do about their summer holidays, if anything at all. Will the situation be worse this summer — or better? Which countries will be safe? And is flying
Omar Marques | LightRocket | Getty Images Bitcoin lost its allure as a safe-haven asset this week. The world’s first and most widely held cryptocurrency dropped 50% over the past two days. Bitcoin — sometimes referred to as “digital gold” — fell more than 30% Friday to its weakest level since March 2019, according to
This story is developing. Please check back for updates. Billionaire investor Carl Icahn said Friday that the coronavirus sell-off has made some stocks so cheap they’re being “given away.” “Now it’s reached a point that there are some companies that are sort of just given away,” Icahn said Friday on CNBC’s “Halftime Report. “Some of
GSO Images When the stock market goes haywire, gold often becomes the “gold” standard in the eyes of everyday investors. True to form, gold is coming off its best week since 2016, as fears around the global spread of the coronavirus led to a sharp selloff in the stock market and nudged investors to retreat to what they perceived
Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% and then pared back part of its losses in extended trading on Wednesday after the company reported earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home in shifts beginning on Friday. “We are asking
Rockstar energy drink Arun Nevader | Getty Images He failed as a politician. He couldn’t sell his business idea to a vodka company. And he mortgaged his house for $50,000 to launch a business everyone said would flop. But today, Russell Weiner is a cash-rich billionaire after selling Rockstar Energy Drinks to PepsiCo for $3.85
If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
Dr. Anthony Fauci, director of the NIH National Institute of Allergy and Infectious Diseases, testifies about Coronavirus, COVID-19, during a Senate Committee on Health, Education, Labor, and Pensions hearing on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images A top U.S. health official said the worst is yet
Ngampol Thongsai / EyeEm Americans’ health may not be the only thing at stake as the coronavirus continues its unrelenting spread in the U.S. The virus could also prove financially crippling for many individuals. “There are all kinds of pathways for people to be financially affected by this,” said John Graves, an associate professor of
JetBlue Airways on Monday withdrew its first-quarter and full-year earnings forecast and said it was considering voluntary time-off programs for employees, as the coronavirus outbreak wreaks havoc on the global travel industry. JetBlue said it is adjusting schedules between March and early May due to falling demand, and is evaluating further flight cancellations as the
CNBC’s Jim Cramer said Tuesday that he feels better about buying stocks now that President Donald Trump publicly acknowledged the need for coronavirus relief for workers and small businesses. Trump plans Tuesday to meet with Senate and House Republicans to discuss “a possible payroll tax cut” and other “substantial relief” as coronavirus cases in the
Given that Australia’s indigenous population thrived for thousands of years before Europeans arrived, it would be logical to assume the country’s native plants — known as bush food — would have long featured on restaurant menus. Not so. For decades, most chefs avoided ingredients like mountain pepper, quandong (a wild peach) and wild rosella, and
An employee works with produce at a farm that practices organic farming techniques in Beijing. Nelson Ching | Bloomberg | Getty Images While the coronavirus outbreak in China has hit many industries hard, some technology start-ups in agriculture are seeing demand rise. ”In the first two months of 2020, we delivered 4,000 units of our
New York Governor Andrew Cuomo delivers remarks at a news conference regarding the coronavirus in New York State in New York, March 2, 2020 Andrew Kelly | Reuters New York Gov. Andrew Cuomo said Monday that Rick Cotton, the executive director of the Port Authority of New York and New Jersey, has tested positive for
It goes without saying that death and taxes are two of life’s certainties. But what many people don’t know is that their Social Security retirement benefits might be taxed. And that means that they haven’t been using strategies proactively to reduce those levies and extend their income over their retirement years. William Meyer, founder of
A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic
Source: Leidos A government contractor Stifel deemed “The Terminator” could be one of the best bets to lead the market back after the coronavirus sell-off, according to Wall Street analysts. Analysts have been getting behind Leidos as the outbreak has spread around the world. In the last three weeks, Wells Fargo and Stifel upgraded the stock to
Hermes Birkin bags Mehdi Fedouach | AFP | Getty Images The artist Jean-Michel Basquiat has nothing on the Birkin bag. Handbags were a far better investment last year than art, according to according to a new report. While art had an overall return of 5% in 2019, handbags clocked in a 13% gain, making it
Farmer Dana Putnam tries to tap a maple tree for sap, but is unsuccessful. His trees are producing less sap as the climate changes. Emma Newburger | CNBC ORANGE COUNTY, NY — Dana Putnam drilled into a maple tree, added a plastic tube and waited for the sap to flow. Nothing happened. It’s the end
Pope Francis greets the believers as he arrives to lead the weekly General Audience at St. Peter’s Square. The General Audience is held every Wednesday, in Saint Peter’s Square, which can accommodate around 80,000 people. SOPA Images This is CNBC’s 24-hour live blog covering all the latest news on the coronavirus outbreak. All times below
Getty Images Recent wild market swings have led some 401(k) investors to clamber into safer assets. However, you may want to press pause before you increase your exposure to bonds or cash-type funds. Net trading activity in 401(k) saving plans was higher in the last week of February than all of the combined activity in
People load Clorox into their car in the Costco parking lot after the first confirmed case of coronavirus was announced in New York State, in Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters Costco reported stronger sales than analysts were expecting Thursday, thanks in part to a boost the company received from consumers stocking
Traders work on the floor of the New York Stock Exchange on February 27, 2020. Scott Heins | Getty Images Fears that the fast-spreading coronavirus will disrupt global supply chains and tip the economy into a recession are gripping investors on Wall Street. In a tumultuous week for stocks, the 30-stock Dow swung 1,000 points
My first experience with the small, but rapidly growing movement to eliminate handshaking was in a chiropractic office in Singapore two weeks ago. “Are you shaking hands? Some people aren’t these days,” the chiro said, extending his hand before awkwardly retracting it. I did — to break the oddness of the moment — but
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase has begun sending hundreds of its traders and salespeople in New York and London to backup locations as Wall Street girds itself for the coronavirus. The bank plans on moving approximately half its
Yehuda Shmidman Peter Foley | Bloomberg | Getty Images Brand management company WHP Global is getting another big investment as it looks for brands to rescue. Oaktree Capital Management is adding $150 million to its equity stake in WHP Global, taking Oaktree’s total investment to $350 million. The latest capital raise, in addition to a
Thomas Barwick The group that oversees certified financial planners is making it tougher for consumers looking for a new advisor to find out how a particular CFP gets paid. The CFP Board of Standards — a nonprofit that governs the CFP designation, held by 86,000 financial advisors in the U.S. — erased a part of its