Month: May 2022
Stocks making the biggest moves in the premarket: Best Buy, Abercrombie & Fitch, Snap and more
Take a look at some of the biggest movers in the premarket: Best Buy (BBY) – Best Buy jumped 5.2% in the premarket after the electronics retailer reported a mixed quarter. Best Buy fell 4 cents a share shy of forecasts, with quarterly earnings of $1.57 per share. Revenue was better than expected, however, and […]
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Burning gas to produce electricity is ‘stupid,’ the CEO of power giant Enel says
Enel CEO Francesco Starace photographed in 2019. In an interview with CNBC on May 24, 2022, Starace said “you can produce electricity better, cheaper, without using gas.” Giulio Napolitano | Bloomberg | Getty Images The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling […]
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EU chief hopes deal for a Russian oil embargo will be reached in the coming days
European Commission President Ursula von der Leyen delivers a speech during a plenary session of the European Parliament at the EU headquarters in Brussels, on March 23, 2022. John Thys | AFP | Getty Images DAVOS, Switzerland — European Commission President Ursula von der Leyen told CNBC Tuesday that she’s hoping an agreement to sanction Russian […]
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Abercrombie shares fall over 10% after retailer posts loss, offers weak outlook
A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017. Andrew Kelly | Reuters Abercrombie & Fitch shares tumbled more than 10% in premarket trade Tuesday after the retailer reported an unexpected loss in its fiscal first quarter, with freight and product costs weighing […]
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Nokia CEO says 6G will be here by 2030 — but you might not access it via your smartphone
Mehdi Bennis is an associate professor at the University of Oulu in Finland researching 6G. Elizabeth Schulze | CNBC Nokia CEO Pekka Lundmark expects 6G mobile networks to be in operation by the end of the decade but he doesn’t think the smartphone will be the most “common interface” by then. Speaking on a panel […]
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DoorDash can jump 32% given its market leadership in food delivery, Bernstein says
DoorDash is a top pick among U.S. emerging internet companies given its leadership in the on-demand delivery space, according to Bernstein. Analyst Nikhil Devnani in a Monday note initiated coverage of DoorDash with an outperform rating and a price target of $90 per share. That represents more than 32% upside from where shares closed on […]
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Tech rout is just a ‘shake-out’: Top CEOs predict what’s next for markets
Monitors display stock market information at the Nasdaq MarketSite in New York, on Friday, Jan. 21, 2022. Michael Nagle | Bloomberg | Getty Images Top CEOs and investors have struck an optimistic tone on the recent sell-off global technology stocks, telling CNBC it’s unlikely to metastasize into a broader market crisis. The tech-heavy Nasdaq 100 […]
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Volkswagen chief says German car giant will overtake Tesla on electric vehicle sales by 2025
Diess said he expects Germany’s auto giant to create some momentum over the coming months. Jens Schlueter | Afp | Getty Images The chief executive of Volkswagen believes Europe’s biggest carmaker can overtake Tesla to become the world’s largest seller of electric vehicles by 2025. Speaking to CNBC’s “Squawk Box Europe” at the World Economic […]
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‘Economy is security’: Biden’s Quad trip shows that in Asia, trade and security are one thing
Australian Prime Minister Anthony Albanese, U.S. President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida arrive for the Quad Leaders’ Summit in Tokyo on May 24. Saul Loeb | Afp | Getty Images TOKYO — Security deals are important, but in Asia, money talks. Australia, India, Japan and the United […]
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Chinese buyers not living in lockdown shake off electric car price hikes, Xpeng says
Guangzhou-based Xpeng is one of several Chinese electric car companies that’s started to expand overseas. Feature China | Future Publishing | Getty Images BEIJING — In a sign Chinese drivers are still willing to buy electric, start-up Xpeng said that demand for its cars has shaken off the impact of price hikes. From Nio to […]
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