Ford still has work to do to be a truly “fit” company, said CEO Jim Hackett on Wednesday. The second-largest automaker said it is not yet fit enough to offset headwinds from higher commodity prices, which the company expects to continue to affect finances in 2018. “Ford is a strong […]
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The US can build as many walls as it wants but they don’t work, says former Mexico president
The United States has the right to build as many walls as it wants, but that’s not the right way to approach border security, former Mexican President Vicente Fox told CNBC on Wednesday. “Walls historically have never worked — the Chinese wall, the Berlin wall,” he said in an interview […]
North Korea sends rare announcement to all Koreans, calling for unification
North Korea sent a rare announcement addressed to “all Koreans at home and abroad” on Thursday, saying they should make a “breakthrough” for unification without the help of other countries, its state media said. It said all Koreans should “promote contact, travel, cooperation between North and South Korea” while adding […]
Cramer unpacks the wild action in a ‘new’ kind of market—one with 3 trading sessions a day
After a whiplash in the major averages on Wednesday drove the stock market to soaring highs before it fell to tumultuous lows, CNBC’s Jim Cramer realized he needed to reevaluate. Stocks opened to a healthy rally in the morning, but by midday, the Dow had fallen over 250 points. Shortly […]
Caterpillar’s stock is ‘out-of-control overbought’ ahead of its earnings report, a strategist says
Over the last year, Caterpillar’s shares have bulldozed their way to new records. Yet that sudden and steep rally has at least one market watcher questioning its sturdiness. “The stock has had a great run but it’s kind of gone vertical in the last two months,” said Matt Maley, equity […]
Ford earnings swing to profit, but miss Wall Street’s target
Ford said its quarterly earnings swung to a profit in the fourth quarter, but fell shy of analysts’ expectations on Wednesday. The second-largest U.S. automaker blamed the miss in part on rising commodity prices and unfavorable foreign exchange rates. Here’s how the company did compared with what Wall Street expected: […]
Under new tax policy United Technologies to pay down debt from Rockwell Collins faster, says CEO
United Technologies will be able to pay off its debt sooner than expected as funds freed up by the new tax law flow back to the U.S., United Technologies Chairman and CEO Gregory Hayes told CNBC. The U.S. manufacturer of jet engines typically repatriates about $1 billion a year in […]
White House says Trump believes in a ‘free-floating’ currency
The White House on Wednesday declined to echo Treasury Secretary Steven Mnuchin‘s comment that a weaker dollar helps the United States. Press secretary Sarah Huckabee Sanders told reporters that the dollar is “stable” and reflects a “strong” American economy. When pressed if President Donald Trump supports a stronger or weaker […]
Your health data is safer in Apple’s hands than with other tech giants, says former Apple CEO
Consumers should not be concerned about their data if they choose to use Apple’s new way of storing medical records in their devices, former Apple CEO John Sculley told CNBC on Wednesday. Earlier that morning, Apple announced it was testing a new product that would let people view their medical […]
Alphabet’s latest business is company that will ‘stop cyber attacks before they cause harm’
Alphabet’s latest Google X business is in cybersecurity. On Wednesday, Google’s parent company introduced Chronicle and described it in a Medium post as a “new independent business within Alphabet that’s dedicated to helping companies find and stop cyber attacks before they cause harm.” Getting its start in X — the […]