A customer uses an Apple Inc. iPhone to make a payment on a Square Inc. device in San Francisco, California, U.S., on Tuesday, March 27, 2018. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell. Nike — The athletic apparel company’s stock soared 8% in extended trading after
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Nike reported quarterly sales that topped analysts’ expectations, thanks to a boost from its digital business and growth in North America, which helped to offset weakness in China due to COVID-19. Its shares shot up more than 8% in after-hours trading Tuesday following the release. Chief Executive Officer John Donahoe said the business is starting to
Energy companies are coming under pressure as oil prices sink, but Chevron CEO Michael Wirth said the company has no plans to slash its dividend. “Our dividend is our number one priority and it’s very secure,” he said Tuesday on CNBC’s “Squawk Box.” ”We’re taking actions to preserve cash. It will have some impact on production
katleho Seisa Congress may permit retirees to skip required minimum distributions from their retirement savings. The House coronavirus relief bill, which was released yesterday, contains a provision that waives for 2020 the required minimum distributions from individual retirement accounts and workplace retirement plans. A similar provision is in the latest version of the Senate bill.
This photo taken on March 23, 2020 shows employees eating during lunch break at an auto plant of Dongfeng Honda in Wuhan in China’s central Hubei province. STR | AFP | China This is a live blog. Please check back for updates. Global cases: At least 375,498, according to the latest figures from the World
Stock futures rose in overnight trading, building on Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus. Futures on the Dow Jones Industrial Average climbed about 310 points. The S&P 500 futures rose 30 points. The action in the futures market followed an epic comeback on
Stocks are a good value for investors who think the economic hit from the coronavirus is temporary, Oakmark Funds partner Bill Nygren told CNBC on Tuesday. “We think stocks are really cheap if you believe, as we do, that the economy is going to eventually recover, as will the P/E multiples,” the value investor said on
Jamie Grill | Getty Images More than a decade ago, the markets were sent into a tailspin during the financial crisis of 2008-2009. But it turns out investors who left their retirement nest eggs alone fared best. That’s according to research from J.P. Morgan, which used the firm’s own data combined with research from the
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 387,382 Global deaths: At least 16,767 US cases: At least 46,450 US deaths: At least 593 The data above was compiled by
David Goetsch, co-executive producer of “The Big Bang Theory,” on the show set. David Goetsch I can’t stop reading the news about the coronavirus and its impact on the economy. My brain is hardwired to obsess on a crisis, even one which doesn’t impact me directly. Everything else gets pushed to the periphery while one
People look out from aboard the Grand Princess cruise ship, operated by Princess Cruises, as it maintains a holding pattern about 25 miles off the coast of San Francisco, California on March 8, 2020. Josh Edelson | AFP | Getty Images Check out the companies making headlines in midday trading. Norwegian Cruise Line, Royal Caribbean,
President Donald Trump speaks at the daily coronavirus briefing joined by Vice President Mike Pence in the James Brady Press Briefing Room at the White House on March 22, 2020 in Washington, DC. Tasos Katopodis | Getty Images This is a developing story. Check back for updates. President Donald Trump and Vice President Mike Pence
Women wearing face masks, amid concerns of the COVID-19 coronavirus, walk past a display showing a countdown to the start of the Tokyo 2020 Olympic Games in Tokyo on March 23, 2020. Charly Triballeau | AFP via Getty Images Like almost everything surrounding the coronavirus, the postponement of the Summer Olympics in Tokyo to next
JohnnyGreig | E+ | Getty Images We are in a challenging time, facing rapidly evolving information about the coronavirus and the effects on how we work and live. Markets continue to function and are reflecting this constant change, which means greater volatility. Those circumstances don’t make it easy for investors to stay in their seats.
Democrats and Republicans are getting closer to a deal on the massive stimulus package to combat the economic impact of the coronavirus, according to multiple reports. Secretary Treasury Steven Mnuchin and Senate Minority Leader Chuck Schumer said they hope to have the final agreement in place Tuesday morning, according to Politico. The Associated Press and The Washington Post
A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020. Michael Nagle | Xinhua News Agency | Getty Images All eyes are on Congress to pass a much-needed stimulus bill to rescue the economy from the coronavirus damage. The stock market is staging a
A man wearing a face mask takes a selfie at the Charging Bull statue on March 23, 2020 near the New Stock Exchange in New York City. Angela Weiss | AFP | Getty Images Markets have historically “reacted most negatively” to unknown diseases, tending to plunge more during epidemics as compared to natural disasters such
Rep Ilhan Omar (D-MN) takes part in a discussion on “Impacts of Phobia in Our Civic and Political Discourse” during the Muslim Caucus Education Collective’s conference in Washington, July 23, 2019. Kevin Lamarque | Reuters Democratic Reps. Ilhan Omar of Minnesota and Ayanna Pressley of Massachusetts introduced legislation on Monday that would suspend student loan
People wearing protective face masks, following an outbreak of the coronavirus, are seen next to the Olympic rings in front of the Japan Olympic Museum in Tokyo, Japan, February 26, 2020. Athit Perawongmetha | Reuters There is mounting pressure to postpone the Olympics for the first time in their 124-year history. On Sunday, leaders from
BTIG’s Julian Emanuel warns stocks could lose another fifth of their value. If Congress doesn’t immediately pass a coronavirus aid package designed to help the U.S. economy, he warns it’ll spark more damage to an already battered market. “We’re in this situation where politics seems to be getting in the way,” the firm’s chief equity