The torrent of major corporate earnings results continued Thursday, with McDonald’s, CNBC parent Comcast, Twitter, and Kraft Heinz among the many companies reporting before the opening bell on Wall Street. Sales and profits have taken a beating for most corporations in the first quarter of 2020 as the initial effects of the pandemic began to drastically
Month: April 2020
Apple shares were down more than 1% during extended trading on Thursday after the company reported a slight increase in second-quarter revenue to $58.3 billion, during a period in which supply and demand for Apple’s products was negatively affected by the Covid-19 pandemic. Here’s how Apple did: EPS: $2.55 per share, adjusted Revenue: $58.3 billion iPhone revenue: $28.96
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters As encouraging as the market comeback this month has been, Wall Street has little faith in it. A leveling out of
The economic impact of the coronavirus pandemic has been felt by millions of workers, including a record-breaking 30.3 million Americans who have filed for unemployment over the past six weeks. Young people are feeling some of the harshest impacts when it comes to job prospects. According to data from job site Glassdoor, the number of
A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto Chris Helgren | Reuters Wells Fargo, one of the largest home lenders in the U.S., said it it stepping away from the market for home equity lines of credit because of uncertainty tied to the coronavirus pandemic. Here’s the statement
Ariel Investments co-CEO and president Mellody Hobson speaks at the 2017 Fortune Most Powerful Women Summit in Washington, D.C. Paul Morigi | Getty Images Entertainment | Getty Images Investment expert Mellody Hobson is a firm believer in teaching kids about investing. She’d like it taught at every school in America — even at a young
Phynart Studio Prior to the Covid-19 pandemic, an astounding 53% of the American population felt anxious about personal finances. Undoubtedly, that percentage has grown significantly, with more than 26 million Americans becoming unemployed since then. The statistics are alarming, but it is not time to panic — it’s time to plan. Although many financial plans
TOPLINE Shares of tech giant Apple fell 1.5% after the company reported first quarter earnings that showed a slowdown in iPhone sales as the coronavirus wreaked havoc on supply chains and global demand. Services revenue continued to show strong growth while iPhone sales slowed. Justin Sullivan/Getty Images KEY FACTS Apple reported revenue of $58.3 billion—up
TOPLINE States are facing massive budget shortfalls—now forecast to be $650 billion over the next three years—due to the coronavirus, sparking a debate among governors and senators alike over whether they should receive more federal funding or if they should be left to declare bankruptcy. Here is how that debate is taking shape inside and
Photo: Getty Whether you’re a new or experienced home buyer or real estate investor, there’s always more to learn about leverage. Because personal circumstances – as well as external factors – are always in flux, how you finance a deal today may be different than how you might have financed a deal 10 years ago
A member of a ground crew walks past American Airlines planes parked at the gate during the coronavirus disease (COVID-19) outbreak at Ronald Reagan National Airport in Washington, April 5, 2020. Joshua Roberts | Reuters American Airlines lost more than $2.2 billion in the first three months of the year — its biggest quarterly loss since
Jack Dorsey, co-founder and chief executive officer of Twitter Inc., listens during a Senate Intelligence Committee hearing in Washington, D.C., U.S., on Wednesday, Sept. 5, 2018. Andrew Harrer | Bloomberg | Getty Images Twitter is set to report first-quarter 2020 earnings before the bell on Thursday. The report is expected to give investors further insight
This is a live blog. Please check back for updates. 7:41 am: Facebook shares jump on ad revenue ‘stability’ Shares of the social media giant jumped more than 8% in the premarket after the company reported “stability” in its ad revenue after a decline in March. Facebook said its March ad revenues dropped sharply amid
Investing missteps can cost you. Say you leave a job and cash out your 401(k). If you are younger than 59½, the IRS will want you to pay income taxes on it right away, and they’ll smack you with a 10% penalty. And it’s not just a matter of getting a smaller amount. You are also
A United Parcel Service worker delivers packages on April 29, 2020 in New York City. Stephanie Keith | Getty Images Half of the S&P 500 companies have reported earnings for the first quarter and this has been the strangest earnings season imaginable. Consider: Global activity has ground to a halt in some sectors, but
If you got a refund from college for room and board or other expenses, consider yourself lucky. But beware of the potential tax bite. As colleges and universities across the U.S. remain closed in an effort to slow the spread of Covid-19, refunds for meals or housing have varied from school to school. Still, when it comes
Photo: Getty In 1930, Irma Rombauer became a widow at 52 years old when her husband committed suicide. The tragedy would be terrible at any time and was compounded by occurring in the throes of the Great Depression. Irma was accustomed to an active social life and now found herself mourning, adrift and financially troubled. To
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3.1 million Global deaths: Over 227,000 Most cases reported: United States (over 1 million), Spain (236,899), Italy (203,591), France (166,541), and United Kingdom (166,441). The data above
Elon Musk, chief executive officer of Tesla Inc., speaks during a ceremony at the company’s Gigafactory in Shanghai, China, on Tuesday, Jan. 7, 2020. Qilai Shen | Bloomberg | Getty Images Tesla reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings per share (EPS): $1.24 per share, ex-items Revenue: $5.99 billion Wall Street
Market researcher James Bianco warns April’s big run will collapse. His reason: Investors are too bullish. “I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted
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