Business

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana tumbled double digits during after-market trading following the auto retailer reporting a net loss of $183.6 million during the first quarter. The company’s loss widened by 122.3% compared to it losing $82.6 million during the first quarter of 2019. The used-car e-commerce platform reported

Wall Street is getting a look at another batch of quarterly earnings reports on Wednesday, with General Motors, CVS Health and Wendy’s all offering updates ahead of the market open. Disney reported a rough second quarter for parks and cruises when it provided results after the bell on Tuesday, recording a 58% drop in operating

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 3.65 million Global deaths: More than 256,800 Most cases reported: United States (over 1.2 million), Spain (over 219,300), Italy (over 213,000), United Kingdom (over 196,200), France (over

Beyond Meat posted better-than-expected earnings for the first quarter Tuesday, but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country.  Given the uncertainty regarding restaurant sales, the company withdrew its earnings forecast for the year. “I am proud of our first-quarter financial results,

Workers near a cruise ship of the Norwegian Cruise Line which is in dry dock receiving hull maintenance and interior modernization work. Gerald Julien | AFP | Getty Images Norwegian Cruise Line said there is “substantial doubt” about its ability to continue as a “going concern” as the coronavirus pandemic wreaks havoc on the industry, the

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 3.5 million Global deaths: More than 251,000 Most cases reported: United States (over 1.17 million), Spain (over 218,000), Italy (over 211,900), United Kingdom (over 191,800), France (over

A Ferrari is parked outside the New York Stock Exchange in celebration of Ferrari Automotive Company’s IPO on October 21, 2015 in New York City. Andrew Burton | Getty Images Ferrari is now worth more than General Motors or Ford, after its market value surged Monday morning to about $30 billion.  Ferrari’s shares jumped as much

Pharmaceutical companies continue to make headlines as governments and investors hang their hopes on a steady recovery from the Covid-19 pandemic. Gilead Sciences CEO Daniel O’Day said on Sunday the company would be donating its entire supply of remdesivir to treat coronavirus patients. Roche Chairman Christoph Franz said Monday morning the drugmaker would be investing more than

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 3.5 million Global deaths: More than 247,300 Most cases reported: United States (over 1.15 million), Spain (over 217,400), Italy (over 210,700), United Kingdom (over 187,800), France (over

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks.  States across the U.S. are reopening after some coronavirus lockdowns meant to curb the spread of the virus are eased despite the

A farmer checks on young female pigs at a hog farm in Smithville, Ohio, U.S., on Thursday, April 30, 2020. Dane Rhys | Bloomberg | Getty Images As the coronavirus pandemic disrupts supply chains across the country, farmers are being forced to destroy their crops, dump milk and throw out perishable items that can’t be

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 3.4 million Global deaths: More than 243,600 Most cases reported: United States (more than 1.1 million), Spain (over 216,500), Italy (over 209,300), United Kingdom (over 183,000), France

States across the U.S. are reopening after coronavirus-enforced lockdowns while protests erupted in places where stay-at-home rules remain in place. In California and Michigan, groups demanded the easing of restrictions. A big week of earnings are in, and tech giants Apple, Alphabet, Amazon, Facebook, Microsoft and Tesla have all reported, providing a first look at

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 3.3 million Global deaths: At least 238,380 Most cases reported: United States (1,103,115), Spain (213,435), Italy (207,428), United Kingdom (178,685), and France (167,305).  The data above was

Wall Street is closing out a painful week of earnings reports with one bright spot: Clorox reported higher profit off demand for cleaning products. As states struggle to find the balance between keeping their populations safe and allowing workplaces to restart their engines, the market is cheering news about possible Covid-19 vaccines and treatments. Gilead Sciences and

The entrance to the Magic Kingdom at Disney World is seen on the first day of closure as theme parks in the Orlando area suspend operations for two weeks in an effort to curb the spread of the coronavirus (COVID-19). Paul Hennessy/SOPA Images/LightRocket via Getty Images) Paul Hennessy | SOPA Images | LightRocket via Getty

Ursula von der Leyen, president of the European Commission, delivers a speech during a special address on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 22, 2020. Bloomberg The president of the European Commission backed calls for an investigation into the origin of the new coronavirus and said China should

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

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

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