Larry Culp, CEO, General Electric Scott Mlyn | CNBC General Electric on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would take a hit of $300 million to $500 million due to the coronavirus outbreak. Shares of GE, which employs thousands of workers in China and had been seen
Business
CNBC’s Jim Cramer said the Federal Reserve‘s emergency interest rate cut on Tuesday morning makes him more concerned about the economic risks from the coronavirus. “It’s great that the Federal Reserve recognizes that there’s going to be weakness, but it makes me feel, wow, the weakness must be much more than I thought,” Cramer said
When it comes to real estate, $1 million doesn’t go as far as it used to — especially in the world’s top cities. In Monaco, the world’s most expensive city on a per-square-foot basis, $1 million gets you 162 square feet of prime real estate, according to a report from real estate brokerage firms Douglas Elliman
A pedestrian carries a Nordstrom shopping bag in Chicago. Christopher Dilts | Bloomberg | Getty Images Check out the companies making headlines after the bell. Nordstrom — Shares of the fashion retailer dipped 8% in extended trading after the company missed analysts’ expectations on both earnings and revenue for the fourth quarter. The company reported earnings
Emergency crews work near a damaged business at Jefferson St. and Seventh Ave. N. on March 3, 2020 in Nashville, Tennessee. A tornado passed through Nashville just after midnight leaving a wake of damage in its path. Brett Carlsen/Getty Images At least eight people were killed, others were injured, and 50,000 households and businesses were
There could be a tug of war brewing over which standard financial professionals should follow when they provide advice or sell products such as annuities to individual investors. The Securities and Exchange Commission is unveiling a new regulation, called Regulation Best Interest, which requires broker-dealers and professionals associated with them to keep their clients’ best
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
As fears from Ebola and a global slowdown spread, stocks plunged on October 15, with the Dow falling more than 400 points during the afternoon before recovering slightly. Getty Images The market could see a pop this week after last week’s steep sell-off, based on simple historical analysis. Though the coronavirus remains a developing health
Geber86 | Getty Images You can afford this or that, and you think you want it. But should you buy it? We live in a country that really likes to buy things. But even when we can buy what we want without too much financial strain, what we feel afterwards isn’t always positive. We’ve all
Traders work on the floor at the New York Stock Exchange, January 14, 2020. Brendan McDermid | Reuters Investors braced for another turbulent week as stock futures tumbled on Sunday night as concerns around the coronavirus kept Wall Street under pressure. Dow Jones Industrial Average futures dropped more than 400 points, indicating a loss of
People wearing face masks walk on the promenade of the Bund along the Huangpu River in Shanghai on February 28, 2020. Hector Retamal | AFP | Getty Images 8:30 am: Australia, Thailand and U.S. report first virus-related deaths over weekend Australia, Thailand and the U.S. all reported their first deaths from the coronavirus over the weekend
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
A Wayfair employee works at his desk at the Boston headquarters of Wayfair on July 31, 2018. Suzanne Kreiter | Boston Globe | Getty Images Wayfair‘s stock tanked Friday morning, after the online furniture retailer’s losses widened more than expected during the holiday quarter. Its shares were recently down more than 15% in premarket trading.
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
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
Traders work on the floor of the New York stock Exchange (NYSE) on on February 24, 2020 in New York City. Stocks fell over 1000 points on Monday as global concerns grow about the economic impact of the Coronavirus. Spencer Platt This is a live blog. Check back for updates. 6:20 am: 10-year yield drops
Disinfection professionals wearing protective gear spray anti-septic solution against the coronavirus (COVID-19) at a subway station on February 28, 2020 in Seoul, South Korea. Chung Sung-Jun | Getty Images The coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s U.S. team. All times
Woman figuring out her finances. stefanamer If there’s any silver lining to the interest accumulating on your student debt, it’s that it can knock down your tax bill. The IRS allows certain borrowers to deduct up to $2,500 in student loan interest each year from their taxable income, and it can come from payments to
Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020. Nicolas Asfouri | AFP | Getty Images Earnings growth for U.S. companies will be stagnant in 2020 as a result of the coronavirus, according to Goldman Sachs. The Wall Street firm
An employee works on the production line of a robot vacuum cleaner factory of Matsutek in Shenzhen, China August 9, 2019. Jason Lee | Reuters Global economic growth is likely to be the worst this year since the Great Recession as headwinds from the coronavirus and other factors build, according to Bank of America. Gross
Chamath Palihapitiya Heidi Gutman | CNBC Billionaires should be grateful for their good fortune and stop being so sensitive to public criticism and name-calling by politicians, tech billionaire Chamath Palihapitiya said Wednesday. In a heated billionaire-versus-billionaire debate with former hedge fund manager Leon Cooperman, Palihapitiya said that being demonized or labeled “out of touch” is a
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters This is a live blog. Please check back for updates. 7:20 am: Disney shares fall 2% as CEO Bob Iger steps down, effective immediately Shares of Disney fell more than 2% during Wednesday’s premarket trading after the company said that CEO
This is a live blog. Please check back for updates. All times below are in Eastern time. Total confirmed cases: More than 81,000Total deaths: At least 2,764 8:46 a.m.: Trump announces news conference with CDC officials President Donald Trump revealed in a tweet Wednesday that he will hold a news conference at the White House
John Fedele The annual income of older Americans could drop significantly from one year to the next for a variety of reasons. It might be retirement or the death of a spouse, perhaps, or the sale of a business. Yet it might take Medicare — which charges higher earners more for premiums — a couple
A Home Depot store in Miami, Florida. Getty Images Home Depot is set to report earnings for the fourth quarter before the bell Tuesday and update investors on whether its significant investments in the company are paying off. Here’s what analysts expect, based on Refinitiv data: Earnings per share: $2.10, adjusted Revenue: $25.76 billion Same-store
Ajay Banga, chief executive officer of MasterCard Inc. Pau Barrena | Bloomberg | Getty Images Mastercard announced on Tuesday that CEO Ajay Banga will leave his current position and take over as the company’s executive chairman. The move will be effective Jan. 1, 2021. Banga will be taking over as chairman for Richard Haythornthwaite, who
Historic England is the country’s official list keeper of the most historically and architecturally significant places in England — places such as monuments, shipwrecks and battlefields. And pubs. Earlier this month, the heritage organization updated 11 English pub listings to reflect their cultural heritage and national importance, with one receiving a coveted Grade I designation.
Traders work on the floor of the New York Stock Exchange. Brendan McDermid | Reuters This is a live blog. Please check back for updates. 7:23 am: Chart analysts saw weakening market before Monday’s drop Technical analysts saw some weak internals in this market at the end of last week, which could be why the
Warren Buffett David A. Grogan | CNBC Berkshire Hathaway founder Warren Buffett called out bank stocks as one of his favorite equity holdings in the U.S. market. “I feel very good about the banks we own. They’re very attractive compared to most other securities I see,” Buffett told CNBC’s Becky Quick on “Squawk Box” on Monday. Banks
Daniel Grill | Getty Images When it comes to retirement, it’s no secret that women face an uphill battle financially. And while women’s retirement readiness is improving, there’s room for much more, according to new research from the Aegon Center for Longevity and Retirement. Women around the world share the same three career challenges: a