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
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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
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 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
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,
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
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
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
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
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
JetBlue Airways on Monday withdrew its first-quarter and full-year earnings forecast and said it was considering voluntary time-off programs for employees, as the coronavirus outbreak wreaks havoc on the global travel industry. JetBlue said it is adjusting schedules between March and early May due to falling demand, and is evaluating further flight cancellations as the
A man runs past the New York Stock Exchange (NYSE). Bloomberg Hundreds of Wall Street traders are about to change their commute starting Monday. Citigroup is traders and salespeople from its headquarters in downtown Manhattan to a backup facility in Rutherford, New Jersey next week in contingency plans tied to the coronavirus, according to a
Check out the companies making headlines in midday trading. Big Lots — Shares of Big Lots rallied more than 6% in midday trading after it confirmed it received notice from two activist investor groups that plan to nominate nine director candidates to replace the company’s board. Ancora Advisors and Macellum Capital argued in a letter that
Farmer Dana Putnam tries to tap a maple tree for sap, but is unsuccessful. His trees are producing less sap as the climate changes. Emma Newburger | CNBC ORANGE COUNTY, NY — Dana Putnam drilled into a maple tree, added a plastic tube and waited for the sap to flow. Nothing happened. It’s the end
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging
Vladimir Putin just sparked what could end up being one of the ugliest oil price wars in modern history, and American oil and gas companies may be the victims. This weekend Saudi Arabia dropped the oil bomb. It not only cut its forward crude price to Chinese customers by as much as $6 or $7
Take a look at some of the biggest movers in the premarket: Carnival Corp. (CCL), Royal Caribbean (RCL), Norwegian Cruise Line (NCLH) – Cruise line stocks are under further pressure today after the U.S. State Department recommended that Americans avoid trips on cruise ships in an effort to contain the spread of the coronavirus. Exxon
Top Wall Street economist Michael Gapen expects the Federal Reserve will do what’s necessary to contain the coronavirus’ impact on the U.S. economy — even if it means slashing interest rates to 0%. “The likelihood of getting to zero is higher than the risk of a recession,” the head of U.S. economics research at Barclays told CNBC’s
Following the worst week for stocks since the financial crisis, UBS‘s Jason Katz said Friday investors should “take a deep breath” and have a moment of introspection over the weekend. “Reflect on the fact that the markets had a made meaningful move up last year and up until recently, and that corrections are par for
Stock futures tumbled in overnight trading Sunday as investors continued to brace for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety. Futures on the Dow Jones Industrial Average plunged more than 900 points. The S&P 500 futures also indicated a 4% drop at the open on