Dara Khosrowshahi, chief executive officer of Uber Technologies speaks on a webcast during the company’s initial public offering on the floor of the New York Stock Exchange, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Uber‘s stock closed up more than 14% on Wednesday after the ride-hailing company […]
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Oil prices give up advance as U.S. crude stockpile surges
Smoke billows following Israeli bombardment in the village of Shihin in southern Lebanon near the border with Israel on February 13, 2024, amid ongoing cross-border tensions as fighting continues between Israel and Palestinian Hamas militants in the Gaza Strip. Kawnat Haju | Afp | Getty Images Crude oil futures fell […]
What’s driving the market rebound on Wednesday — and why we’re buying the dips
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible. Here […]
Lyft CEO takes blame for ‘extra zero that slipped into’ earnings release
Lyft CEO David Risher took responsibility for the major error that appeared in the company’s fourth-quarter earnings release, telling CNBC’s “Squawk Box” that it’s “super frustrating” for everyone on the team. Shares of the ride-hailing company soared more than 60% after the report came out late Tuesday because the press […]
Stocks making the biggest moves midday: Uber, Airbnb, MGM Resorts, Robinhood and more
Check out the companies making headlines in midday trading. Uber — Uber’s shares jumped 11%, climbing to a new 52-week high, after the ride-hailing company announced an inaugural $7 billion share repurchase authorization program. Uber also said it expects gross bookings growth to be in the mid to high-teens over […]
Biden administration examining role of supply chain middlemen in generic drug shortages
A variety of generic pills and capsules. Nenov | Moment | Getty Images The Federal Trade Commission on Wednesday said it is examining the role that drug wholesalers and companies that purchase medicines for U.S. health-care providers play in shortages of generic drugs, which account for the majority of Americans’ […]
Generative AI financial scammers are getting very good at duping work email
More than one in four companies now ban their employees from using generative AI. But that does little to protect against criminals who use it to trick employees into sharing sensitive information or pay fraudulent invoices. Armed with ChatGPT or its dark web equivalent, FraudGPT, criminals can easily create realistic […]
Deflation: Here’s where prices fell in January 2024, in one chart
Customers shop at an RC Willey home furnishings store in Draper, Utah, Aug. 28, 2023. George Frey/Bloomberg via Getty Images Inflation has pulled back significantly from its pandemic-era peak. In fact, some categories have fallen into outright deflation, meaning consumers are seeing their prices decline instead of rise. Deflation has […]
Phoenix Suns owner Mat Ishbia forms new investment group called Player 15
Mat Ishbia, majority owner of the NBA’s Phoenix Suns, talks to the media during his introductory press conference at the Footprint Center in Phoenix, Arizona, on Feb. 8, 2023. Barry Gossage | Getty Images Phoenix Suns owner Mat Ishbia is forming a new sports, entertainment and real estate investment group […]
How Elon Musk’s war on Delaware could change the way corporations make some of their biggest decisions
Elon Musk, owner of Tesla and the X (formerly Twitter) platform, attends a symposium on fighting antisemitism titled ‘Never Again : Lip Service or Deep Conversation’ in Krakow, Poland on January 22nd, 2024. Beata Zawrzel | Nurphoto | Getty Images It remains to be seen what Tesla will do about […]