In a time where stock buyback programs have come under scrutiny, HP is sticking to the principles laid out in the company’s value plan, CEO Enrique Lores told CNBC Wednesday. “We still think that buying back stock is good because we think it’s undervalued” and “we are going to stay committed to the principles that we
A major market shift is forming as the economy begins to reopen: Value stocks are gaining popularity over growth names, including technology. But according to Oppenheimer Asset Management’s John Stoltzfus, that doesn’t mean the winners will automatically become losers. The market bull sees technology as a vital part of the economic fight to function amid
Elon Musk is never one to shy away from setting ambitious goals. In fact, the billionaire’s most ambitious goal might just be the one he often talks about the most: going to Mars. On Wednesday, Musk and his private spacecraft company, SpaceX, nearly checked off a historic milestone that could put him another step closer
CNBC’s Jim Cramer said Wednesday that he thought some stocks were rallying too far too quickly given the high level of unemployment in the United States as the economy tries to pull out of the coronavirus slowdown. “It’s too ‘happy days are here again,'” Cramer said on “Squawk on the Street.” “It’s just not going
A House bill with bipartisan support would allow 2020 college graduates to postpone their student loan payments for three years without interest accruing. Meanwhile, Sen. Mitt Romney, R-Utah, has introduced legislation in the Senate that would do the same. “Students graduating from college this year are suddenly facing significant hurdles entering the workforce,” Romney said
Justin Horrocks | Vetta | Getty Images Laid-off employees who reject an offer of rehire may wind up being reported to the state unemployment office if their company took a forgivable federal loan. The Paycheck Protection Program is a federal loan program that was established by the CARES Act. It covers up to eight weeks
You probably don’t know this, but May is Older Americans Month (and has been since 1963). This year’s theme is Make Your Mark – celebrating contributions older Americans make to communities—as volunteers, parents, grandparents, and more. But as many Americans get older “not being a burden” would likely be part of their ideal Mark. So
TOPLINE With the coronavirus pandemic wreaking havoc on the U.S. economy, the unemployment rate has skyrocketed, and it could remain high for the next two years as many job losses won’t recover quickly, Goldman Sachs says in a recent note. Widespread unemployment could linger longer than expected and slow an economic recovery. Nam Y. Huh/ASSOCIATED
Questions and answers on the coronavirus Getty Now that “phase two” is well underway for most countries globally, we are all consumed by a two-part preoccupation: when will things go back to normal, and what exactly will be “normal” in a post-coronavirus world? In the first article of this two-part miniseries, we took a look
Global deaths due to Covid-19 surpassed 350,000 as U.S. deaths near 100,000 and states push forward with reopening plans. California Gov. Gavin Newsom said Tuesday that most of the state’s barbershops and hair salons can reopen with modifications. Nevada Gov. Steve Sisolak said the state is moving into phase two of its reopening plan, which will
Rob Lynch, CEO of Papa John’s Pizza Anjali Sundaram | CNBC Papa John’s said Wednesday that May estimated same-store sales shot up 33.5% in North America and 7% globally as the pizza chain worked to meet soaring demand during the coronavirus crisis. “In May, for the second straight month, Papa John’s team members and franchisees delivered
Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York City, November 21, 2019. Lucas Jackson | Reuters This is a live blog. Please check back for updates. 8:03 am: ‘Storm clouds starting to clear’ for Tesla, analyst says Wedbush analyst Dan Ives hiked his price
When you’re sheltering in place, meal and snack times tend to be a bit of blur. There’s always time and opportunity nosh on something throughout the day— and the fridge and pantry is only a few steps away. “We have lost track of time in many respects. Sometimes, I go into the kitchen and look for
SoFi CEO Anthony Noto told CNBC on Wednesday that the fintech company’s investing platform has seen a strong increase in users this year, in what has been a volatile period for financial markets. “We’ve seen the number of people that use SoFi Invest double, the number of accounts open since the beginning of the year,”
For the second time in 12 years, the U.S. economy and financial markets are facing an unexpected crisis of uncertain proportions. While the 2008 financial crisis and the current coronavirus pandemic are very different in character, both have produced extraordinary volatility in financial markets. Both downturns have also presented major challenges for financial advisors as they
Warren Faidley | Getty Images The coronavirus pandemic has battered Americans’ household finances, but another major threat lies around the corner: hurricane season. Only 15% of adults polled by the American Institute of CPAs have created a disaster plan to protect their household finances. The organization, which represents accountants, polled 2,050 U.S. adults in the
Jet Metier in Sea of Cortez, Mexico Chuck Bolotin If I had a big factory in Mexico or if I even aspired to have a big factory in Mexico, I would be doing my research right now to find out which American manufacturers did the most manufacturing in China. And then, I would make an
State and local governments need federal funding for K-12 education. Otherwise, severe budget cuts will damage the economy, undermine our long-term prosperity, and increase inequality and discrimination. Striking teachers are joined by parents and students on the picket line outside Dahlia Heights … [+] Elementary School in the Eagle Rock section of Los Angeles, California on
Landlords are offering more sub-six-month leases in response to economic uncertainty. Getty As uncertainty rules in real estate, one segment that has been seeing growth is the market for short-term rentals. Landlords in New York City and across the country are offering more flexible rental options in response to demand from renters facing unclear economic
People sit on terrace tables at cafe in Stockholm, Sweden, on Thursday, March 26, 2020. Sweden is starting to look like a global outlier in its response to the coronavirus. Bloomberg As Sweden’s Nordic neighbors look to reopen borders and lift travel restrictions, worries over Stockholm’s controversial approach to the coronavirus has increased concerns that