Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Spencer Platt | Getty Images CNBC’s Jim Cramer said Monday he could see the oil industry experiencing a significant wave of bankruptcies if low crude prices persist. Of the more than 35 companies in the oil industry he
Month: March 2020
GSO Images When the stock market goes haywire, gold often becomes the “gold” standard in the eyes of everyday investors. True to form, gold is coming off its best week since 2016, as fears around the global spread of the coronavirus led to a sharp selloff in the stock market and nudged investors to retreat to what they perceived
1. Dow set to tank as oil prices and bond yields crater Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images U.S. stock futures pointed to an over 1,300-point plunge for the Dow
Scott Gottlieb, former Commissioner of the FDA Adam Jeffery | CNBC The U.S. will need a “massive financial package” to curb the spread of COVID-19, former Food and Drug Administration commissioner Scott Gottlieb told CNBC on Monday. The virus has spread past the point of containment, Gottlieb said, and hard-hit regions should be moving toward
People wearing masks visit a market amid the coronavirus outbreak on March 8, 2020 in Kunming, Yunnan Province of China. Liu Ranyang | China News Service | Getty Images This is a live blog. Please check back for updates. Global cases: At least 106,893, according to the latest figures from the World Health Organization Global
Ekkasit Keatsirikul | EyeEm | Getty Images A state-of-the-art research and development (R&D) center in Scotland has just got planning permission, as the country leans in to so-called “smart manufacturing.” Known as the National Manufacturing Institute Scotland (NMIS), the £65 million ($85.21 million) center will be located on Netherton Campus, a 52-hectare site adjacent to
[The stream is slated to start at 11:00 a.m. ET. Please refresh the page if you do not see a player above at that time.] World Health Organization officials are holding a press conference on Monday to update the public on the coronavirus outbreak. The virus has infected more than 111,300 people and killed at
Oil prices plunged 30% in early trading Sunday night as OPEC’s failure to strike a deal with its allies regarding production cuts sparked fears of a price war as Saudi Arabia reportedly gets set to ramp up production. International benchmark Brent crude futures plummeted 30% to $32.05 per barrel. U.S. West Texas Intermediate crude dropped 27%
Sea turtle lies lifeless, wrapped in plastic on the shores of Porto de Galinhas beach on January 12, 2017 in Ipojuca, Brazil. Marcos Souza | Brazil Photo Press | LatinContent via Getty Images Across the world, sea turtles are swallowing bits of plastic in the ocean and often dying as a result. There are many
Televangelist Jim Bakker and wife, Lori, attend the ceremony honoring BeBe Winans and CeCe Winans with a star on the Hollywood Walk of Fame on October 20, 2011 in Hollywood. Albert L. Ortega | Getty Images The Food and Drug Administration said Monday it has sent warning letters to televangelist Jim Bakker and six companies
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 111,300, according to data compiled by Johns Hopkins University. Global deaths: At least 3,892, according to data compiled by Johns
Hyatt Regency Orlando International Airport. Source: Orlando International Airport Hyatt Hotels said on Monday it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand. The company had previously forecast adjusted profit for 2020 between $760 million and $780 million. Greater China revenue per available room (RevPAR) has been
A security guard stands in a greenhouse of Tilray medical cannabis producer’s European production site in Cantanhede, on April 24, 2018. Patricia De Melo Moreira | AFP | Getty Images Canada-based pot firm Tilray reported a bigger quarterly loss on Monday, hurt by an impairment charge related to its assets and higher costs, as oversupply
Dina Rudick | The Boston Globe | Getty Images Kohl’s shares rose Tuesday morning as the retailer reported quarterly earnings and net sales that beat analysts’ expectations. Its shares were up more than 2% in premarket trading following the release. Here’s how Kohl’s did during its fiscal fourth quarter compared with what analysts were expecting,
A Target store in Culver City, California. Mark Ralston | AFP | Getty Images Target is set to to report its fourth-quarter and full-year earnings Tuesday before the bell. Here’s what Wall Street is expecting, based on a survey of analysts by Refinitiv: Earnings per share, adjusted: $1.65 Revenue: $23.50 billion Same-store sales growth: 1.5% Target
Rolls of gift paper hang on display at a Nordstrom Local concept store in New York, Sept. 5, 2019. Demetrius Freeman | Bloomberg | Getty Images Nordstrom announced Tuesday it is changing its leadership structure, appointing Erik Nordstrom as sole CEO and retiring its co-presidency. It announced the changes as it reported fourth-quarter earnings and sales
Larry Culp, CEO, General Electric Scott Mlyn | CNBC General Electric on Wednesday reiterated its 2020 cash and profit targets but warned its first-quarter cash flow would take a hit of $300 million to $500 million due to the coronavirus outbreak. Shares of GE, which employs thousands of workers in China and had been seen
Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% and then pared back part of its losses in extended trading on Wednesday after the company reported earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies
A woman wearing a protective face mask to prevent contracting the coronavirus enters a subway station in Milan, Italy, March 4, 2020. Guglielmo Mangiapane | Reuters First quarter U.S. earnings estimates have been declining since coronavirus concerns became known toward the end of January, but Europe — now the cutting edge of the coronavirus epidemic
People load Clorox into their car in the Costco parking lot after the first confirmed case of coronavirus was announced in New York State, in Brooklyn, New York, March 2, 2020. Andrew Kelly | Reuters Costco reported stronger sales than analysts were expecting Thursday, thanks in part to a boost the company received from consumers stocking