Business
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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Sean ‘Diddy’ Combs to acquire cannabis businesses for up to $185M
Sean ‘Diddy’ Combs accepts the Lifetime Achievement Award onstage during the 2022 BET Awards at Microsoft Theater on June 26, 2022 in Los Angeles, California. Kevin Winter | Getty Images Entertainment | Getty Images Hip-hop mogul and businessman Sean “Diddy” Combs is venturing into the world of cannabis. Combs has agreed to acquire licensed cannabis operations […]
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Pfizer releases more data indicating omicron boosters are better than old Covid shots
A health worker administers a dose of Pfizer covid-19 vaccine to a man at the Sanford Civic Center. With the emergence of the Omicron covid-19 variant in numerous countries, including the United States, the US Centers for Disease Control (CDC) encouraged all vaccinated adults to receive their Covid-19 booster shot. Paul Hennessy | LightRocket | […]
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Op-ed: High-net-worth investors can amplify their charitable impact with a ‘recoverable grant’
Miniseries | E+ | Getty Images Anyone watching the markets this year knows that it’s been a bumpy ride. But investors and the corporate sector aren’t the only ones feeling the pinch as financial markets have fallen sharply. With an estimated 33% of all charitable giving taking place in November and December, non-profit organizations will […]
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Stocks making the biggest moves premarket: DraftKings, Cinemark, Hershey and more
Check out the companies making headlines before the bell: DraftKings (DKNG) – DraftKings fell 12.5% in premarket trading despite reporting a smaller-than-expected quarterly loss and revenue that topped Wall Street forecasts. The sports betting company also raised its revenue guidance and warned a prolonged economic downturn could impact spending by its customers. Cinemark (CNK) – […]
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