Apple CEO Tim Cook greets customers at the grand reopening of Apple’s flagship Apple Fifth Avenue retail store on September 20, 2019 in New York City. Taylor Hill | Getty Images Apple stock is heading into 2020 with a strong rally. Shares are up more than 7% this year and more than 100% since reporting
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People wearing face masks ride escalators inside Hankou Railway Station on January 22, 2020 in Wuhan, China. A new infectious coronavirus known as “2019-nCoV” was discovered in Wuhan last week. Getty Images This is a live blog. Please check back for updates. All times below in China Standard Time, beginning on Wednesday. 7:27 am: Scientists
Customers look at Apple’s new iPhone 11 series smartphones at an Apple retail store at the IFC Mall in Pudong New Area, Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Take a look at the companies making headlines after the bell. Apple – Apple stock rose 2.5% after it reported strong fourth-quarter
A battery start-up that’s backed by iPod inventor and Nest founder Tony Fadell, and which claims to have found a green and scalable way to make lithium-ion batteries more efficient, on Tuesday announced that it raised $18.5 million in its Series A funding round. New Orleans-based Advano is focused on increasing batteries’ energy density by
Kathy Kraninger, director of the Consumer Financial Protection Bureau. Andrew Harrer | Bloomberg | Getty Images The agency created in the wake of the 2008 financial crisis to protect consumers from abuse is being gutted from the inside, according to some consumer advocates and legal experts. A new enforcement policy at the Consumer Financial Protection
Xana Antunes, a veteran business journalist whose varied career included serving as executive editor of CNBC Digital during a period of significant transformation, growth and improvement, died Monday night in New York after a struggle with pancreatic cancer. Antunes, who at a relatively young age also was editor of The New York Post, most recently
Apple CEO Tim Cook visits an Apple store in Shanghai, China. Aly Song | Reuters Apple is set to report fiscal first-quarter results on Tuesday after the closing bell, and it’s a critical report for the company. Apple’s fiscal first quarter covers the holiday shopping season and is the company’s biggest quarter in terms of
A customer holds boxes of 3M Co. 8247 R95 particulate respirators at a pharmacy in the Central district of Hong Kong, China, on Thursday, Jan. 23, 2020. Justin Chin | Bloomberg | Getty Images The CEO of industrial giant 3M said Tuesday that the company is increasing production of its respiratory protection products, such as
A trader works on the floor of the New York Stock Exchange. Getty Images Investor anxiety over the coronavirus led to the Dow Jones Industrial Average’s longest losing streak since August, and the market may have more to lose, going by past epidemics. Looking back 20 years, previous epidemics from SARS in 2003 to the
Hill Street Studios Here’s a head-scratcher: Getting a raise could hurt your standard of living in retirement. That conclusion seems counterintuitive. After all, wouldn’t saving the same percentage of a larger paycheck yield more savings, and therefore a healthier retirement? Not exactly, according to new research published by Morningstar. “Raises — and how we spend
Masked health professionals and police officers check the driver of a vehicle at a screening checkpoint on a highway toll station on the outskirts of Shanghai, China, on Tuesday, Jan. 28, 2020. Bloomberg The spread of the coronavirus is causing concern for members of the public and global financial markets, but health experts are keen
An employee works on a Whirlpool washing machine at the company’s operations plant in Clyde, Ohio. Daniel Acker | Bloomberg | Getty Images Take a look at the companies making headlines after the bell. Whirlpool Corporation – Whirlpool stock briefly rose in extended trading on Monday before returning to the closing price of $148.23 after
Michael Roman, CEO, 3M Scott Mlyn | CNBC U.S. industrial giant 3M reported a 28% fall in quarterly profit on Tuesday due to restructuring and litigation charges and said it would cut 1,500 jobs globally as it looks to reduce costs. Net income attributable to 3M fell to $969 million, or $1.66 per share, in the
A father and daughter play with a digital tablet at an Estée Lauder store in Shanghai. SOPA Images | LightRocket | Getty Images The Chinese coronavirus is forcing Wall Street to turn sour on certain stocks. Bank of America downgraded shares of Wynn Resorts to neutral from buy and Oppenheimer downgraded shares of cosmetic company
Jetta Productions Inc Bring out your box of receipts. Tax season begins today. Eager taxpayers can start filing their 2019 tax returns on Monday, Jan. 27. The IRS expects it will receive more than 150 million returns. People with elaborate returns can ask for a six-month extension to file, but they have until April 15
Disinfection workers wearing masks and spray anti-septic solution at the Incheon International Airport on January 27, 2020 in Incheon, South Korea. Chung Sung-Jun | Getty Images A novel coronavirus has now taken the lives of at least 81 people in China and sickened more than 2,800 worldwide, including in the U.S. and Europe, as Chinese
U.S. Treasury yields are sliding, and that could negatively impact financial institutions, CNBC’s Jim Cramer said Monday. “Worries about a worldwide slowdown mean people will buy [U.S.] Treasurys, and when people buy Treasurys, interest rates go down,” the “Mad Money” host said. “Lower long-term rates translate to lower earnings for the banks, which is why
American multinational sport clothing brand Nike store seen in Hong Kong. Budrul Chukrut | SOPA Images | Getty Images The deadly coronavirus, whose spread accelerated around the globe, is battering the stock market, and some U.S. companies are particularly vulnerable to the disease as their growth has been driven by Chinese consumers. Wall Street analysts
Further, more than three-quarters of those polled said they won’t pay off their balances in full by the end of January, which means they will also add hefty interest charges to those bills. From month to month, credit cards are one of the most expensive ways to borrow money. Card rates now stand at 17.4%,
Roberto Machado Noa | LightRocket | Getty Images Bath & Body Works owner L Brands could be poised to benefit from an increase in sales of its soaps and hand sanitizers as consumers try to protect themselves from the spread of the deadly coronavirus, an analyst said Monday. The retailer “could experience (and meet) a