Business
Investing in Space: Rockets are only the beginning
An Electron rocket launches from New Zealand on Aug. 4, 2022. Rocket Lab CNBC’s Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. CNBC’s Michael Sheetz reports and curates the latest news, investor updates and exclusive interviews on the most important companies reaching new heights. Sign […]
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Restaurant operating hours are still shorter compared to 2019, report finds
Veselka is serves from its original location, which opened in 1954 in Manhattan’s East Village neighborhood. CNBC Make It It’s not just your imagination. Restaurants aren’t open as long as they used to be. Eateries have trimmed their weekly operating hours by 7.5%, or 6.4 hours, compared with pre-pandemic schedules, according to a new report […]
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Not a good buy: Rent the Runway, exactly one-year after IPO, is down nearly 90%
While Rent The Runway closed its retail stores due to the pandemic, it still has a network of drop-off locations in major cities, including New York. Shannon Stapleton | Reuters In this weekly series, CNBC takes a look at companies that made the inaugural Disruptor 50 list, 10 years later. More than 50% of clothing […]
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New York Post website hacked, with racist and sexist headlines targeting politicians
Zoom In IconArrows pointing outwards The New York Post’s website and Twitter account were hacked Thursday, as racist and sexually explicit headlines about Rep. Alexandria Ocasio-Cortez and President Joe Biden were published. The posts were removed shortly thereafter on Thursday morning, and the News Corp-owned New York tabloid newspaper’s website was operating as usual. The […]
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Morgan Stanley downgrades Meta after earnings miss, says higher spending will hurt the stock
Meta’s latest quarterly earnings results should give investors pause, according to Morgan Stanley. Analyst Brian Nowak downgraded shares of Meta to equal weight from overweight and roughly halved his price target on the social media stock, citing higher capital expenditures and lower free cash flow from the company. “We see META’s $69bn of capex over […]
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Wall Street analysts are worried about Meta as it plans to spend even more money on the metaverse
Meta ‘s third-quarter results have Wall Street analysts split on the struggling tech stock. Shares of Meta plunged 23% in Thursday premarket trading after the social media company reported an earnings miss and issued a weaker-than-expected forecast for the fourth quarter. The tech stock is already down more than 60% year to date as the […]
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Omicron subvariants are resistant to key antibody treatments, putting people with weak immune systems at risk of Covid
Emerging omicron subvariants are resistant to key antibody treatments for HIV patients, kidney transplant recipients and other immunocompromised people, making them particularly vulnerable to Covid this winter, the White House warned this week. “With some of the new subvariants that are emerging, some of the main tools we’ve had to protect the immunocompromised like Evusheld […]
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Altria quarterly earnings miss estimates as cigarette maker’s revenue falls
Altria Group signage is displayed on a monitor on the floor of the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Cigarette maker Altria Group on Thursday reported third-quarter earnings that missed Wall Street estimates as its revenue fell. Here’s what the company reported compared with what Wall Street was expecting, based […]
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Comcast tops expectations as it squeezes out a small gain in broadband subscribers
Comcast on Thursday reported third-quarter earnings that beat analyst estimates, despite seeing revenue slightly decline and continued softness in broadband customer growth. Shares jumped 8% in premarket trading. Here’s how Comcast did in the third quarter of 2022 compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per […]
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5 things to know before the stock market opens Thursday
Traders work on the floor of the New York Stock Exchange. NYSE Here are the most important news items that investors need to start their trading day: 1. Weathering a busy week Markets don’t look much clearer now that we’re over the hump in a busy earnings week. The three major indices had a mixed […]
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