Fears of a government shutdown coursed through Washington, D.C., on Thursday, as House and Senate leaders negotiated a spending bill and federal agencies prepared to furlough workers. But if you watched President Donald Trump touting his recently passed tax cuts outside Pittsburgh, Pa., you might never have known it. Over […]
CNBC News
Cramer Remix: How I decide which retailers are not buyable
When CNBC’s Jim Cramer evaluates retail companies and their stocks, he likes to go straight to the source. “I shop everywhere and if I shop at a place that I’m not that crazy about, I don’t recommend the stock. And I’m not crazy about shopping at J.C. Penney,” the “Mad […]
Cramer tracks 4 growing market discrepancies: Rates, Trump, cryptocurrencies and stocks
To CNBC’s Jim Cramer, the story of this stock market seems to be all about “cognitive dissonance.” “There’s just so many examples of investors holding two contradictory opinions at the same time and it has a tendency to color the tape,” the “Mad Money” host said on Thursday, pointing to […]
Snap laid off two dozen employees and half of them were from its content team
Snap laid off two dozen workers in New York and London, half of whom worked producing content, as the struggling social media company consolidated those operations in Los Angeles, CNBC has confirmed. The cuts were previously reported by Cheddar. The job cuts affected a tiny percentage of the company, which […]
The bond market is about to do something that could spell trouble for stocks
The bond market is in the process of making an important move, and stock traders are keeping a wary eye on it. On Thursday afternoon, the bench mark 10-year Treasury yield crept close to 2.63 percent, a level it came near last year but has not really traded above since […]
Hospitals eye making generics for 20 drugs that they say are overpriced or in short supply
Several hundred hospitals that plan to form their own generic drug company are eyeing making “about 20” pharmaceutical products whose existing versions either cost too much or are in short supply for no good reason, the CEO of one of those hospitals said Thursday. Dr. Marc Harrison, chief of Utah-based […]
Market shrugs off congressional budget bickering for now, but Goldman sees 35 percent chance of shutdown
Markets are more or less shrugging off the potential for a government shutdown, even though the odds for a closure seem higher than the last time Congress temporarily extended spending authority. Goldman Sachs economists on Thursday put 35 percent odds on a shutdown, higher than usual, as Congress and the […]
AmEx dips after company says it will temporarily suspend buybacks after tax law
American Express announced it will be temporarily suspending its buyback program after the recent tax overhaul. In the company’s Thursday earnings release, CEO Ken Chenault said AmEx will suspend its buyback program for the first half of the year. The CEO said the company made this decision to rebuild its […]
IBM shares fall despite first growth in 23 quarters
IBM saw its stock go down more than 3 percent after it reported better-than-expected earnings for the fourth quarter and full year of 2017. The company will hold a conference call with analysts at 5 p.m. Eastern time. EPS: Excluding certain items, $5.18 in earnings per share vs. $5.17 in […]
Travis Kalanick is walking away with $1.4 billion as Uber’s deal with SoftBank closes
SoftBank completed its long-awaited investment agreement with Uber on Thursday, making SoftBank the company’s largest shareholder and providing a huge payday for co-founder Travis Kalanick and other early backers. “We’re proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our […]