Incoming Stitch Fix CEO Elizabeth Spaulding told CNBC on Thursday the company is confident in the timing of its executive shakeup, explaining that the coronavirus pandemic “accelerated everything” for the online styling service. Spaulding, who currently serves as president, is set to take over the reins from founder and CEO […]
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American Eagle Outfitters CEO expects ‘Roaring 20s’-like boom for malls post-pandemic
American Eagle Outfitters CEO Jay Schottenstein said Thursday that the U.S. shopping mall “is not dead” and that the decade is shaping up to be a boon for business. The apparel retailer anticipates extending its double-digit comparable sales growth streak to 27 quarters and retaining its position as a leader […]
Big bank stocks are ‘dirt cheap’ after posting earnings, Jim Cramer says
Big bank earnings are out and the results were positive enough to quell one concern about their valuations, CNBC’s Jim Cramer said Thursday. The stocks of large financial institutions like JPMorgan Chase and Wells Fargo have surged from last summer, far outgaining the market. Cramer, himself an alum of Goldman […]
Coinbase’s debut is monumental for the crypto industry, despite volatility: CNBC After Hours
CNBC.com’s Pippa Stevens brings you the day’s top business news headlines. On today’s show, Kate Rooney wraps up the watershed moment when Coinbase became a publicly traded company. Plus, Robert Frank explains how the red-hot Florida real estate market ay be overheating. Coinbase stock closes down day after landmark Nasdaq […]
Stock futures are flat in overnight trading after Dow closes above 34,000 for the first time
Traders on the floor of the New York Stock Exchange. Source: NYSE Stock futures were little changed in overnight trading on Thursday after the Dow Jones Industrial Average crossed the 34,000 threshold for the first time ever. Futures on the Dow Jones Industrial Average gained 10 points. S&P 500 futures […]
The 10-year Treasury yield slid on Thursday. Why it could be good news for stocks
The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New New York, January 16, 2019. Carlo Allegri | Reuters The benchmark 10-year Treasury yield slid to a one-month low Thursday in a counterintuitive move that should be a positive for the stock market. Treasury yields, […]
‘We need at least one more check.’ The case for a fourth stimulus payment
Signs calling for more relief, a second Paycheck Protection Program and more as part of a campaign by Goldman Sachs supporting small businesses near the U.S. Capitol on Jan. 5, 2021. BRENDAN SMIALOWSKI | AFP | Getty Images Stimulus checks have injected about $850 billion in financial support to Americans […]
NFL picks Caesars, FanDuel, DraftKings for first wave of sports betting partnerships
Lawrence Guy #93 of the New England Patriots sacks Jimmy Garoppolo #10 of the San Francisco 49ers during the first quarter of the NFL game at Gillette Stadium on October 25, 2020 in Foxborough, Massachusetts. Matt Stone | MediaNews Group | Getty Images The National Football League is officially open […]
Biden says he is ready to ‘take further actions’ if Russia escalates against U.S., opens door to cooperation
WASHINGTON – President Joe Biden on Thursday addressed the sweeping sanctions his administration imposed on Russia, a move that seeks to address a litany of malign behaviors and is expected to peeve Moscow. “If Russia continues to interfere with our democracy, I’m prepared to take further actions to respond. It […]
There’s a single New Jersey deli doing $35,000 in sales valued at $100 million in the stock market
Your Hometown Deli in Paulsboro, N.J. Google Earth Hedge fund manager David Einhorn warned of dangers for retail investors that he sees in the market, and one of his main examples was a tiny New Jersey deli with a market capitalization of more than $100 million. The Paulsboro, New Jersey-based […]