Day: July 20, 2022
Cramer’s lightning round: I like Chubb over American International Group
Canopy Growth Corp: “Canopy will be great once we [nationally legalize] cannabis. I don’t know if it’s going to happen in my lifetime, that’s the problem.” Starwood Property Trust Inc: “Remember when the stock fell to the teens, and [CEO Barry Sternlicht] came on and said, ‘don’t worry about it, we’re going to deliver’? … I […]
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Microsoft eases up on hiring as economic concerns hit more of the tech industry
Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft said it will decelerate the pace of hiring new employees given current economic conditions, following similar announcements from its tech counterparts. “As […]
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Mattel inks deal with Elon Musk’s SpaceX to produce line of toys
The company’s Cargo Dragon spacecraft rolls out to the launchpad in Florida atop a Falcon 9 rocket. SpaceX Mattel inked a multiyear deal with Elon Musk’s SpaceX to create a line of toys inspired by the space venture, the companies announced Wednesday. “As space exploration advances more quickly than ever before, we are thrilled to […]
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Invest in companies that ‘think twice’ about hiring during a Fed-mandated slowdown, Jim Cramer says
CNBC’s Jim Cramer on Wednesday advised investors to buy stock of companies that are adjusting their hiring efforts to fit the economic environment. “If you want to invest with profligate companies, be my guest. I want to invest in well-run companies … with very smart CEOs. That means buying the stocks of those companies that […]
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Stop panicking about inflation, BlackRock CEO tells investors — ‘We’re going to get through this’
The economic headwinds currently roiling the U.S. economy are fixable in the long-run, meaning investors can afford to relax a bit, BlackRock CEO Larry Fink told CNBC’s Jim Cramer on Wednesday. “A really famous person called me up, panicking, ‘what should I do, I’ve got to get out, I can’t stand it, I can’t stand […]
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Stock futures slip after Nasdaq’s rally as investors digest corporate earnings
Traders on the floor of the NYSE, July 19, 2022. Source: NYSE Stock futures dipped on Wednesday evening as investors hoped to build on a strong start to the week amid a flurry of corporate earnings. Futures tied to the Dow Jones Industrial Average shed 45 points, or about 0.1%. S&P 500 futures ticked down […]
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Raimondo warns of ‘deep and immediate recession’ if U.S. were to be cut off from Taiwan chip manufacturing
Commerce Secretary Gina Raimondo warned on Wednesday that the country’s current dependence on foreign computer chip fabrication puts it at risk of a recession if it’s ever cut off. Her comments come as Congress nears key votes on a bill to fund U.S. semiconductor manufacturing, While many computer chips are designed in the U.S. by […]
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Tesla has dumped 75% of its bitcoin holdings a year after touting ‘long-term potential’
Tesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future. Artur Widak | NurPhoto | Getty Images Early last year, Tesla invested $1.5 billion in bitcoin, banking on what the electric car maker called the digital […]
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Chipotle union files complaint with labor board after chain shutters Maine restaurant seeking to organize
A Chipotle Mexican Grill sign is seen in the Park Slope neighborhood in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images A union pushing to organize workers at Chipotle Mexican Grill has filed a complaint with the National Labor Relations Board after the burrito chain said it would permanently close […]
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Marriott opens new Ritz Carlton in Manhattan as NYC tourism roars back
The Ritz-Carlton in the NoMad neighborhood of New York City. Seema Mody | CNBC Marriott next week will open a swanky new Ritz Carlton hotel in Manhattan, marking a bet on the surge in luxury travel and the hopeful return of business travelers this fall. “It’s got 10,000 square feet of meeting space, a 7,000-square-foot […]
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