Shantanu Narayen Mark Neuling | CNBC Adobe shares plummeted more than 10% on Thursday after the software maker issued a revenue forecast for the fiscal first quarter that fell well shy of analysts’ estimates. The stock is on pace for its second-worst drop in the past decade, surpassed only by a 15% slide in mid-March
In this article JNJ FDX ORCL RIVN MRNA JPM An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019. Mark Ralston | AFP | Getty Images Check out the companies making headlines in midday trading. Johnson & Johnson — Shares of Johnson & Johnson fell 2.2%
Billionaire investor Ray Dalio is impressed with bitcoin, the largest cryptocurrency by market value, and its blockchain. “It has been an amazing accomplishment for bitcoin to have achieved what it has done, from writing that program, not being hacked, having it work and having it adopted the way it has been,” Dalio, founder of the
Pedestrians stand in line at a Covid-19 mobile testing site at Columbus Circle in New York, on Dec. 5, 2021. Jeenah Moon/Bloomberg via Getty Images Covid cases are spiking in some parts of the U.S., and the highly contagious omicron variant is expected to fuel another virus wave headed into winter. In New York, some
Getty Images While household debt reached a record $17 trillion in the second quarter of 2021, many American households have felt less financial stress this year thanks to Covid-19-related government policies. That’s according to the federal Financial Stability Oversight Council, which released its annual report for 2021 on Friday. The council was created by legislation
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In this article RIVN A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, on Wednesday, Nov. 10, 2021. Bing Guan | Bloomberg | Getty Images Shares of Rivian Automotive, an electric vehicle start-up that went public through a blockbuster IPO last month, hit a new low Friday
In this article DRI Diners wearing protective masks wait outside an Olive Garden restaurant in Thornton, Colorado, on Friday, March 19, 2021. Chet Strange | Bloomberg | Getty Images Darden Restaurants on Friday reported quarterly earnings and revenue that topped analysts’ expectations, leading the company to raise its sales and earnings forecast for the rest of fiscal 2022.
The Federal Reserve raising interest rates next year would signal the central bank feels good about the country’s economic recovery, New York Fed President John Williams said Friday. “I go into next year feeling [like] the baseline outlook is a very good one. Therefore, actually raising interest rates would be a sign of a positive
mphillips007 | iStock Unreleased | Getty Images If some holiday magic makes you a Powerball or Mega Millions jackpot winner this weekend, don’t forget Uncle Sam will be celebrating alongside you. After no ticket matched all six numbers drawn Wednesday in Powerball, the jackpot has jumped to $353 million for Saturday night’s drawing. For Mega
In this article JPM Scott Mlyn | CNBC JPMorgan Chase is paying a $125 million fine to settle Securities and Exchange Commission charges that its Wall Street division allowed employees to use WhatsApp and other platforms to circumvent federal record-keeping laws. The SEC said Friday in a statement that JPMorgan Securities admitted to “widespread” record-keeping
JaruekChairak | iStock | Getty Images Amid all the worrisome news about the omicron variant, there one’s good development: Soon most Americans should be able to pick up at-home Covid tests for free. The Biden administration said earlier this month that those with private health insurance can request reimbursement from their plans for these takeaway
Adobe Chairman and CEO Shantanu Narayen on Thursday expressed confidence about the company’s future, telling CNBC’s Jim Cramer that the software maker’s weaker-than-expected forward guidance does not signal problems for its business. Narayen’s comments on “Mad Money” came shortly after Adobe shares tumbled 10.2% in Thursday’s session, as investors responded negatively to the company’s financial
In this article FB Checkout.com has hired Meta executive Meron Colbeci as its new chief product officer. Checkout.com LONDON — Checkout.com, a $15 billion payments start-up based in Britain, has hired Meta executive Meron Colbeci as its chief product officer. Colbeci joined Meta, the company formerly known as Facebook, in 2018 as director of product
Theranos founder and former CEO Elizabeth Holmes goes through a security checkpoint as she arrives at the Robert F. Peckham Federal Building on December 16, 2021 in San Jose, California. Justin Sullivan | Getty Images SAN JOSE, Calif. — In his last effort to persuade the jury that Elizabeth Holmes is guilty of fraud, Assistant
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday that early strength in the broader market indexes after the Federal Reserve‘s faster, but still gradual tightening plans does not reflect the reality that many companies are starting to struggle. “If you’re in companies losing money, you should sell them,” Cramer said on “Squawk
The Consumer Financial Protection Bureau said Thursday it is opening an inquiry into popular “buy now, pay later” programs. The financial watchdog said it is particularly concerned about how BNPL impacts consumer debt accumulation, as well as what consumer protection laws apply and how the payment providers harvest data. “Buy now, pay later is the
Investors need to be pickier as a result of the Federal Reserve’s plan to expedite tightening of monetary policy, CNBC’s Jim Cramer said Thursday. “While the universe of potential winners has gotten smaller, there are still tons of groups that work,” the “Mad Money” host said, shortly after the tech-heavy Nasdaq recorded its worst day
In this article GM X RIVN FDX JBL AFRM Rivian employees stand beside the new all-electric pickup truck by Rivian, the R1T, as it sits at one of its facilities on November 09, 2021 in the Brooklyn borough of New York City. Spencer Platt | Getty Images Check out the companies making headlines in after-hours
Digital cryptocurrencies, Bitcoin, Ripple, Ethernum, Dash, Monero and Litecoin. Chesnot | Getty Images Most millennial millionaires have the bulk of their wealth in crypto, and they’re planning to add more in 2022 despite the recent price declines, according to the CNBC Millionaire Survey. Fully 83% of millennial millionaires own cryptocurrencies, according to the survey, which