Business
Carvana stock posts worst day ever as outlook darkens for used vehicle market
Shares of Carvana posted their worst day on record Friday after the company missed Wall Street’s top- and bottom-line expectations for the third quarter as the outlook for used cars falls from record demand, pricing and profits during the coronavirus pandemic. The stock cratered 39% to end the day at $8.76 a share — slightly […]
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House hunting this weekend? There’s more out there now
A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images After more than two years of a historically lean housing market, listings are starting to rise − and swiftly. Active inventory nationally jumped 33.5% in October from the […]
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United Airlines opens a new grab-and-go lounge in Denver for time-crunched travelers
United’s new, small-format lounge at Denver International Airport. Source: United Airlines United Airlines is opening a new kind of lounge at Denver International Airport, and it’s not designed for travelers to linger. The Chicago-based airline is launching the new club concept as travel demand recovers, and airlines return to profitability in part thanks to customers […]
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Shonda Rhimes is among the creators unhappy with Netflix’s mid-video ads, sources say
Shonda Rhimes attends 2018 Vanity Fair Oscar Party on March 4, 2018 in Beverly Hills, CA. Presley Ann | Patrick McMullan | Getty Images Shonda Rhimes, the high-powered producer behind “Bridgerton” and “Inventing Anna,” is among a number of showrunners, creators and writers who have expressed displeasure with Netflix‘s decision to include mid-video ads in […]
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New hope China may soften on Covid boosts our stocks most tied to world’s No. 2 economy
Estee Lauder (EL) and other Club holdings with meaningful exposure to the Chinese economy bounced Friday, following news that BioNTech ‘s (BNTX) Covid vaccine will soon be available to foreign residents living in China. We’re cautiously optimistic about the vaccine development , which adds to hopes that Beijing will soften its restrictive pandemic policies after […]
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Rocket Lab launches mission, but calls off attempt to catch Electron booster with a helicopter
Space company Rocket Lab called off its latest attempt at catching one of its Electron boosters with a helicopter, as the venture pursues reusability of its rockets. The company launched the “Catch Me If You Can” mission from its private facility in New Zealand on Friday. The primary goal of Rocket Lab’s mission, its ninth […]
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3 takeaways from our daily meeting: Equities mixed, hopes for China reopening, buying Coterra
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Stocks wavering Club stocks soar China vaccine news Buying up more CTRA 1. Stocks wavering Stocks were mixed in midday trading Friday after rallying this morning following four consecutive days […]
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Powerball’s jackpot is $1.6 billion, the largest U.S. lottery prize ever. If you win, here’s how much would go to taxes
Jonathan Alcorn | Reuters If you manage to beat the odds stacked against hitting the Powerball jackpot, don’t forget you’ll have a silent partner in the win: the taxman. The jackpot for Saturday night’s drawing is now the largest U.S. lottery ever at an estimated $1.6 billion — pretax — if you were to opt […]
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Puma CEO Bjorn Gulden in talks to succeed Kasper Rorsted as chief of Adidas
Björn Gulden, Chairman and Managing Director of the sporting goods manufacturer Puma SE, speaks at the company’s annual press conference. Daniel Karmann | Picture Alliance | Getty Images Adidas announced Friday that it is in talks with Bjorn Gulden, the departing CEO of Puma, to succeed Kasper Rorsted as its chief executive. Rorsted, who has […]
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It’s vacations vs. shopping this holiday season, and travel has the edge
Retailers have a new threat this holiday season: wanderlust. Americans are returning to the skies, filling hotels, swarming theme parks — and they’re showing a willingness to spend more of their money on trips. That is setting up the fiercest holiday season battle for consumers’ wallets since before the Covid pandemic, with persistent inflation already straining household budgets […]
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