Month: May 2022
Jefferies upgrades Ulta to buy, says strong earnings are the ‘all clear’ for a recovery
A strong quarterly report is the start of a solid recovery for Ulta Beaty , according to investment firm Jefferies. On Thursday, Ulta blew away estimates for the first quarter, generating $6.30 in adjusted earnings per share on $2.35 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.46 in earnings per share on $2.12 […]
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Morgan Stanley downgrades Gap after weak first-quarter report, says stock has further downside
A rough first quarter for Gap could be just the start of a longer down period for the company, according to Morgan Stanley. Analyst Kimberly Greenberger downgraded Gap to underweight from neutral, saying that Thursday’s disappointing quarterly report showed a company with internal issues and a difficult consumer environment. “The 1Q22 EPS miss materialized, & […]
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U.S. may send long-range rocket systems to Ukraine; Russia captures more villages in Donbas. Follow our live updates
Russian forces capture several villages in the Donbas Russian forces have captured several villages in the Donbas north-west of Popasna, as they make gradual progress in their efforts to surround Severodonetsk and Lysychansk, the U.K.’s Ministry of Defense wrote in its daily intelligence update on Twitter. “Russia is pressuring the Severodonetsk pocket although Ukraine retains […]
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Japan is finally seeing some inflation – but it may not be time to celebrate
Japan’s core consumer prices may be approaching the central bank’s 2% target, but veteran entrepreneur Ernie Higa says it’s not time to cheer yet. “When you talk about inflation, it’s kind of like cholesterol – there’s good cholesterol and bad cholesterol – what we’re experiencing now in Japan is bad inflation,” Higa, chairman & CEO […]
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Alibaba, Tencent and JD.com all just posted their slowest revenue growth on record
Alibaba, whose headquarters are pictured here on May 26, said its online physical goods GMV in China, excluding unpaid orders, fell further in April, with a “low teens” decline from a year ago. Str | Afp | Getty Images BEIJING — Chinese tech giants Alibaba, Tencent and JD.com have all posted their slowest revenue growth […]
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‘We’re in a bear market. And I think that’s good’: Crypto firms hope market slump shakes out bad players
Executives from the blockchain and cryptocurrency industry told CNBC that the recent crash in the digital coin market should help get rid of “bad actors” in the space. Billions of dollars of value has been wiped off the cryptocurrency market in the last few weeks driven by a sell-off in stocks and the collapse of […]
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‘Hypocrisy,’ ‘naivety’ and ‘greed’: Europe chided for failing to stop Putin’s war
DAVOS, Switzerland — The European Union failed to counter Russian President Vladimir Putin and needs to now strike flexible alliances across the world and search for new friends, current and former leaders told CNBC on a panel at the World Economic Forum. “We are too Euro-centric on this crisis, in the sense we think this […]
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How to protect yourself against monkeypox and what to do if you catch it
Test tubes labelled “Monkeypox virus positive and negative” are seen in this illustration taken May 23, 2022. Dado Ruvic | Reuters A recent monkeypox outbreak across the U.S., Europe, Australia and the Middle East has baffled health experts and is raising concerns of a wider outbreak. As of Wednesday, there were 346 confirmed and suspected […]
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Japan to restart idled nuclear power plants, says its prime minister
A radiation counter in an obscure corner of vacant lot at Futaba in Fukushima prefecture on Mar 10, 2022. Japan will take firm steps to restart idled nuclear power plants to make maximum use of nuclear power to stabilize energy prices and supply, Prime Minister Fumio Kishida said on Friday. Yusuke Harada | Nurphoto | […]
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Thousands of people are leaving Hong Kong — and now it’s clear where they’re going
They stuck it out during the political protests of 2019. Then they lasted through nearly two years of pandemic. But this year, they say they’ve had enough. Residents of Hong Kong are leaving the city in droves in 2022 — not because they want to, several told CNBC, but because Covid restrictions and what they see […]
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