Economy
Stocks making the biggest moves midday: Ulta Beauty, Big Lots, Autodesk, Workday and more
Ulta Beauty store. Scott Mlyn | CNBC Check out the companies making headlines in midday trading Friday. Ulta Beauty — The beauty retailer surged 10% following better-than-expected quarterly earnings and revenue. Ulta Beauty also shared a better-than-expected outlook for the full year. American Eagle — The stock dropped 4.2% after the retailer posted weaker-than-expected quarterly […]
Read More
The Fed’s favorite inflation measure rose 4.9% in April in a sign that price increases could be slowing
People shop in a supermarket in Washington, DC, on May 26, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Nicholas Kamm | AFP | Getty Images The Federal Reserve’s preferred inflation gauge rose 4.9% in April from a year ago, a still-elevated level that nonetheless indicated that price pressures could […]
Read More
Stocks making the biggest moves premarket: Big Lots, Hibbett, Pinduoduo and others
Check out the companies making headlines before the bell: Big Lots (BIG) – The discount retailer’s shares tumbled 21.2% in the premarket after missing Wall Street forecasts for quarterly earnings and revenue. The company also reported a larger-than-expected slump in comparable-store sales and issued cautious full-year guidance, saying inflationary pressures reduce discretionary spending. Hibbett (HIBB) […]
Read More
Japan is finally seeing some inflation – but it may not be time to celebrate
Japan’s core consumer prices may be approaching the central bank’s 2% target, but veteran entrepreneur Ernie Higa says it’s not time to cheer yet. “When you talk about inflation, it’s kind of like cholesterol – there’s good cholesterol and bad cholesterol – what we’re experiencing now in Japan is bad inflation,” Higa, chairman & CEO […]
Read More
Thousands of people are leaving Hong Kong — and now it’s clear where they’re going
They stuck it out during the political protests of 2019. Then they lasted through nearly two years of pandemic. But this year, they say they’ve had enough. Residents of Hong Kong are leaving the city in droves in 2022 — not because they want to, several told CNBC, but because Covid restrictions and what they see […]
Read More
Stocks making the biggest moves midday: Twitter, Macy’s, Nvidia, Lululemon and more
A Lululemon sign hangs in front of their store at the Woodbury Commons Premium Outlets shopping mall on November 17, 2019 in Central Valley, New York. Gary Hershorn | Corbis News | Getty Images Check out the companies making headlines in midday trading Thursday. Macy’s — Shares jumped 17.8% after the department store chain reported […]
Read More
Sequoia coaches start-ups to cut costs or face a ‘death spiral’ amid stock market slump, bleak economic backdrop
One of Silicon Valley’s most successful venture capital firms doesn’t see the economy bouncing back anytime soon and is warning portfolio companies to tighten their belts in the meantime. In a 52-page presentation seen by CNBC, the Sequoia lays out a litany of risks making it harder for founders to raise money and operate. The […]
Read More
First-quarter GDP declined 1.5%, worse than thought; jobless claims edge lower
A ‘We’re Hiring!’ sign is posted at a Starbucks in Los Angeles, California. Mario Tama | Getty Images The U.S. economic contraction to start the year was worse than expected as weak business and private investment failed to offset strong consumer spending, the Commerce Department reported Thursday. First-quarter gross domestic product declined at a 1.5% […]
Read More
Stocks making the biggest moves premarket: Macy’s, Twitter, Medtronic and more
Check out the companies making headlines before the bell: Macy’s (M) – Macy’s surged 15% in the premarket after reporting better-than-expected profit and revenue for the first quarter and raising its full-year earnings forecast. Results got a boost from strong apparel demand as people returned to work and other out-of-home activities. Dollar General (DG) – […]
Read More
As Klarna cuts jobs, rival fintechs say they’re recruiting for hundreds of roles
Nikolay Storonsky, founder and CEO of Revolut. Harry Murphy | Sportsfile for Web Summit via Getty Images Not all fintech unicorns are cutting jobs. After Klarna announced plans to lay off 10% of its workforce Monday, some rival fintechs are making it clear that they have no intention of cutting jobs or freezing hiring. Revolut, […]
Read More