CNBC’s Jim Cramer on Thursday reminded investors to thoughtfully digesting earnings and other corporate news before making a decision to dump or purchase a stock. “Why can’t we just take earnings at face value and immediately decide that something is either good or bad? Because it takes time to assess […]
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Tesla’s move from radar to vision costs it some safety endorsements — for now
Tesla Model 3 Source: Tesla When Tesla decided to exclude radar sensors from its newer Model 3 and Model Y vehicles in the U.S., it had to downgrade functionality in these cars at least temporarily. As a result, Consumer Reports and the Insurance Institute for Highway Safety (IIHS) are suspending […]
JPMorgan’s Dimon, Citigroup’s Fraser doubt Joe Biden’s minimum global corporate tax rate plan would work
JPMorgan Chase Chairman and CEO Jamie Dimon testifies during a US House Financial Services Committee hearing on Capitol Hill in Washington, DC, June 19, 2012, about JPMorgan Chase’s trading loss. Saul Loeb | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon and Citigroup chief Jane Fraser on Thursday expressed […]
Gap sales top pre-pandemic levels as turnaround efforts gain traction, retailer raises 2021 outlook
A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC Gap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer. The retailer raised its sales outlook for the full year as Gap’s namesake […]
Fed’s Kaplan cites real estate excesses as one reason to start tapering purchases
Dallas Federal Reserve President Robert Kaplan cited potential excesses in the housing market and other inflation signs as an indication that the central bank should start slowly pulling back on its asset purchase program. With the Fed still buying at least $120 billion in bonds each month, a total that […]
Salesforce growth accelerates as company offers strong guidance for coming fiscal year
Marc Benioff, CEO of Salesforce. Adam Jeffery | CNBC Salesforce shares rose 5% in extended trading on Thursday after the cloud software maker issued earnings and guidance that surpassed analysts’ expectations. Here’s how the company did: Earnings: $1.21 per share, adjusted, vs. 88 cents per share as expected by analysts, […]
Dow ends day more than 100 points higher amid solid jobs data, a jump in Boeing shares
Traders working at the New York Stock Exchange (NYSE), on May 19, 2021. NYSE The Dow Jones Industrial Average and the S&P 500 climbed on Thursday as investors cheered stronger-than-expected labor-market data. The blue-chip index rose 141.59 points, or 0.4%, to 34,464.64. The S&P 500 inched up 0.1% to 4,200.88. […]
AMC Entertainment shares shoot up 35% as Reddit traders double down
Shares of AMC Entertainment soared again on Thursday as speculative trading activity skyrocketed in the movie theater chain’s stock among Reddit-obsessed day traders. The stock surged as much as 47% Thursday and ended the session 35.6% higher at $26.52, pushing its week-to-date advance to nearly 120%. AMC has overtaken GameStop […]
Biden’s bid to tax inherited assets could be a documentation nightmare for wealthy heirs
U.S. President Joe Biden delivers remarks on the economy during a visit to Cuyahoga Community College in Cleveland, Ohio, May 27, 2021. Evelyn Hockstein | Reuters The wealthy may have a whole other reason to dread President Joe Biden’s proposal to overhaul taxes on inheritances: They may have to dig […]
Five ways to trade the divergence between the Chinese yuan and U.S. dollar
The Chinese yuan is on a tear. The currency hit a three-year high in offshore markets on Thursday while the U.S. dollar index hovered near 12-month lows, accentuating an ongoing divergence. China’s yuan has outperformed against the dollar since mid-2020. Two traders flagged several ways to play the shifting currency […]