Apple did it again: Despite all the worries about China, the consumer tech giant hit back with beats on the top and bottom lines, sending shares up 6% in after-hours trading. This is why we own it. This is why we don’t trade it. Apple’s fiscal first quarter revenue hit $90.75 billion, down 4% from
Month: May 2024
Chinese new energy vehicle giant shows off the latest version of its Han electric sedan at the Beijing auto show on April 26, 2024. CNBC | Evelyn Cheng BEIJING — Chinese automakers, including state-owned auto giant GAC Group, can’t afford to take it easy in the country’s electric car boom if they want to survive.
Internal Revenue Commissioner Danny Werfel speaks during his swearing in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The IRS has released an update on its strategic operating plan, which outlines “major accomplishments” in taxpayer service, technology and enforcement since its infusion of
In my first report from Alaska, I focused on the policy discussions in the state regarding retirement issues. Today, I’m sharing a bit more about my experiences here in Alaska. As spring breaks, I’ve found Alaska to be warm and welcoming. The people I’ve met with this week are friendly, honest, and sincere in their
In this article W Follow your favorite stocksCREATE FREE ACCOUNT The Wayfair app on a smartphone arranged in Hastings-on-Hudson, New York. Tiffany Hagler-Geard | Bloomberg | Getty Images Wayfair’s sales slid during its first quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the start of the year,
In this article AMGN Follow your favorite stocksCREATE FREE ACCOUNT The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023. Mario Tama | Getty Images Amgen on Thursday said it will stop developing its experimental weight loss pill and instead move forward with its injectable drug and other products
The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters on February 9, 2024, in Washington, DC. J. David Ake | Getty Images If your current federal student loan servicer is Mohela, or the Missouri Higher Education Loan Authority, the U.S. Department of Education said it will
The fight against inflation was going well for the Federal Reserve and economy for much of last year and into 2024, but one important demographic remained unconvinced about the progress being made in lowering pricing: small business owners. Now, more influential parties are coming around to a view that small businesses have been stubborn in
The subject of financial exploitation of elders in our country has been on law enforcement radar for decades. Significant public education programs on this topic by states, counties, and elder-focused organizations are ongoing, but are they doing any good? There was an increase in financial elder exploitation by 14% over the last year, according to
In this article PTON Follow your favorite stocksCREATE FREE ACCOUNT Barry McCarthy, president and CEO of Peloton Interactive, walks to a morning session at the Allen & Company Sun Valley Conference on July 06, 2022 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Peloton announced Thursday that CEO Barry McCarthy will be stepping down
In this article AAPL Follow your favorite stocksCREATE FREE ACCOUNT Apple CEO Tim Cook, right, and Deirdre O’Brien, senior vice president of retail, open the doors during the grand opening of Shanghai’s new Apple retail store, March 21, 2024. Strstr | Afp | Getty Images Apple reports earnings for the second fiscal quarter on Thursday
In this article Follow your favorite stocksCREATE FREE ACCOUNT Ryersonclark | E+ | Getty Images Making your home hurricane resistant can be a significant financial undertaking. But it’s one that has the potential to pay off as such storms become more intense amid climate change. In 2024, the national average cost to upgrade an entire
Westend61 | Westend61 | Getty Images Between rising costs for groceries and fuel, increased debt levels, and shrinking savings, people are having trouble seeing the overall economic growth reflected in their bank accounts. Our recent research with CNBC showed that the “vibecession” has a hold over many people, and now those sentiments appear to resonate with
After several abortive attempts over three presidential administrations, the Department of Labor (DOL) once again has issued a new Fiduciary Rule. In 2016, Obama’s DOL issued its version of the Fiduciary Rule in the final year of his presidency. Within two years, however, the Fifth Circuit vacated that rule. In the final year of its
In this article SBUX CMG MCD QSR-CA YUM Follow your favorite stocksCREATE FREE ACCOUNT A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023. Kevin Dietsch | Getty Images It’s finally here: the long-predicted consumer pullback. Starbucks
In this article XOM CVX EQNR-NO SHEL-GB Follow your favorite stocksCREATE FREE ACCOUNT The Shell logo is displayed outside a petrol station in Radstock on February 17, 2024 in Somerset, England. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday reported stronger-than-expected first-quarter profit, boosted by higher refining margins
In this article KRE Follow your favorite stocksCREATE FREE ACCOUNT Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC.
The Federal Reserve announced Wednesday it will leave interest rates unchanged as inflation continues to prove stickier than expected. However, the move also dashes hopes that the Fed will be able to start cutting rates soon and relieve consumers from sky-high borrowing costs. The market is now pricing in one rate cut later in the year, according to the CME’s
Amid deeply troubling public employee recruitment and retention challenges, the Alaska Senate recently passed a bill to return public employees to a defined benefit pension plan. This would reverse a 2005 decision that closed Alaska’s two statewide pension plans to new hires. I’m in Alaska this week meeting with stakeholders and sharing the findings from
In this article CVNA Follow your favorite stocksCREATE FREE ACCOUNT Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the