Johnson & Johnson board member Dr. Mark McClellan told CNBC Friday that there could be enough vaccinations for the entire U.S. adult population by the summer. “Assuming all of the close review of the J&J data all pans out, we’re going to have the capacity between Moderna, Pfizer, J&J, to have enough vaccines available by
Robinhood raised $1 billion overnight from investors to shore up its balance sheet as the brokerage app was set to ease restrictions in the trading of certain volatile stocks, according to CNBC’s Andrew Ross Sorkin. The money raised was on top of $500 million the broker accessed through credit lines to ensure it had the
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Citron Research, which was forced to close out its short position in GameStop amid a frenzy in retail buying, said Friday it will no longer publish short reports and instead will focus on long positions. “After 20 years of publishing Citron will no
Not wanting to touch anything is having a dramatic impact on consumer habits. Amid the coronavirus crisis, Americans are abandoning cash almost entirely in favor of “tap and go” transactions and have finally embraced contactless and digital payment methods after years of reluctance. Fewer and fewer adults use printed or minted U.S. currency at all any more.
Members of the Ohio Retired Teachers Association are hoping a forensic investigation of the State … [+] Teachers Retirement System by an independent expert will provide assurance that the pension system is being managed properly and that the investments are being reported accurately. getty After a 3-month campaign of collecting donations from retired and active
Read this if you would be interested in getting a $230,000 tax deduction. Escape getty You can sock away $7,000 in a tax-sheltered IRA, if you’re older. You can do $26,000 with a 401(k) deferral. Or you could be using an entirely different vehicle to put the contribution deep into six-figure territory. Up for discussion
Miami’s hot real estate market continues getty Miami’s luxury hot luxury real estate market shows no signs of cooling down. Everyday boldface names in the media announce they are moving to Miami. From out of favor politicians to film stars to mid-list celebrities to Wall Street billionaires Miami is the current must-have address. According
Small investors outsmarted the smart money, and the war between the Reddit traders and hedge funds seems to have made an indelible mark on Wall Street. Big investors or hedge funds, who hold short positions in individual stocks, saw some of these positions come under siege from a large cohort of small investors, many of
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of
The Robinhood website home screen on a smartphone. Gabby Jones | Bloomberg | Getty Images Restrictions on Robinhood traders are still tight and getting tighter throughout the day on Friday, now only allowing GameStop holders to buy a single additional share. The stock trading app has also expanded its list of restricted stocks from 13
Aimee Dilger | SOPA Images | LightRocket | Getty Images Maybe you’ve heard by now that an army of retail investors has managed to use one of hedge funds’ common investment strategies against them. That is, short-selling. It generally involves selling borrowed shares of a stock with the belief that the price will drop, at
You’ve won the lottery, and it was a “B”iggie, as in “B”illions of dollars. Now what? The holders of two tickets faced that question last week. On Jan. 22, in Michigan, a Mega Millions ticket hit the jackpot at $1.05 billion. Two days earlier, on Jan. 20, in Maryland, a winning Powerball ticket rang up
getty The Coronavirus Aid, Relief and Economic Security (CARES) Act , signed into law in March 2020, provided a lifeline to many Americans struggling in the wake of the COVID-19 pandemic and the economic turmoil that followed. Among the law’s many provisions was the ability for certain taxpayers impacted by COVID-19 to take distributions of
China has been slow to accept property tech start-ups Alexei Druzhinin/TASS “Business to business software as a service is a massive driver of the overall technology world of America,” says Dominic Penaloza, CEO and founder of REinvent. “They have amongst the best valuation metrics of any tech businesses. What’s really interesting about China is that
Johnson & Johnson Coronavirus vaccine illustration Dado Ruvic | Reuters Johnson & Johnson said Friday that its one-dose coronavirus vaccine was 72% effective in protecting against Covid-19 in the United States. The vaccine, however, was less potent in other regions, it said. The highly anticipated results were based on 468 confirmed Covid-19 infections among the
Tesla reported earnings after the bell and it’s a miss on earnings, but another profitable quarter for Elon Musk’s electric vehicle and solar business. Shares were down about 3% after hours. Here are the results, versus what analysts were expecting according to estimates compiled by Refinitiv: Earnings: 80 cents adj. vs $1.03 per share expected Revenue: $10.74
The war between hedge funds and retail investors over shares of GameStop has one logical conclusion, according to executives and traders of a major Wall Street firm. Shares of GameStop, the videogame retailer, have climbed more than 900% since the start of the year after members of a Reddit community called WallStreetBets banded together in
Recognize the photograph above? It adorns walls, computer screens and websites for psychiatrists and financial planners. It’s also on shower curtains, tote bags, maxi dresses, neck gaiters and ruffled bathing suits. Though seemingly too beautiful to be real, the scene depicts an actual place. It’s Arashiyama Bamboo Grove, one of the most famous sites in
A man walks past an AMC theatre amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. Carlo Allegri | Reuters Stocks on Robinhood’s restricted trading list jumped during premarket trading on Friday, after the online brokerage said Thursday evening that it would resume limited
Serhii Shleihel | iStock | Getty Images Here’s what you probably shouldn’t do with that extra money now that you don’t have to pay your student loan bill until October: Sink it all into shares of GameStop. But there are financially sound actions you can take with the additional cash, and you’ll likely thank yourself