Markets
Robinhood cutting about 23% of jobs, releases second-quarter earnings
Robinhood CEO Vlad Tenev said Tuesday in a press release that the fintech company will reduce its headcount by approximately 23%. The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed “deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash.” Robinhood […]
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GXO Logistics customers are doing well despite economic slowdown buzz, CEO says
GXO Logistics customers are still doing well even as Wall Street fears that the economy is headed for a downturn, CEO Malcolm Wilson told CNBC’s Jim Cramer on Tuesday. “We just finished our quarter … nearly half a billion dollars of new customer contracts signed, and our business growing at 20% organic revenue. That’s a […]
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Cramer’s lightning round: AST SpaceMobile is not a buy
“Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed. Source
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Cramer says Fed officials’ aggressive inflation statements on Tuesday are dragging down market
CNBC’s Jim Cramer on Tuesday said that inflation is coming down at a good pace as he called out Federal Reserve leaders for hawkish comments that are dragging down the market. “While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds […]
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Starbucks beats earnings and revenue estimates, despite lockdowns in China
An employee hands a bag to a customer at the drive-thru of a Starbucks coffee shop in Hercules, California, on Thursday, July 28, 2022. David Paul Morris | Bloomberg | Getty Images Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance. Shares of the company rose more […]
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Fed’s Daly says ‘our work is far from done’ on inflation; Evans sees ‘reasonable’ chance for smaller hike
Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018. Ann Saphir | Reuters The Federal Reserve still has a lot of work to do before it gets inflation under control, and that means higher interest […]
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Stocks making the biggest moves midday: Uber, Pinterest, Caterpillar and more
An Uber banner on the New York Stock Exchange on the day of Uber’s IPO, May 10, 2019. Source: NYSE Check out the companies making headlines in midday trading Tuesday. Uber Technologies — Uber shares popped 17.6% after the ride-hailing giant reported a quarterly revenue that beat analyst expectations. The company’s revenue came in at […]
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Bill Ackman blasts Visa, saying it has the power to pressure Pornhub to remove child pornography
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire hedge fund manager Bill Ackman is taking a vocal stance against Visa, saying the credit card giant has the power to pressure Pornhub to remove child pornography from its site. “My interest comes from the fact that I have four daughters,” […]
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Pinterest is a buy with new CEO and activist Elliott oversight, Susquehanna says
It’s time to buy Pinterest as investors can expect strong leadership from its new chief executive and activist involvement from Elliott Management, according to Susquehanna Financial Group. Analyst Shyam Patil upgraded Pinterest to positive from neutral, lowered estimates, and raised its price target, saying better management improves the outlook at the social media company. “While […]
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Stocks making the biggest moves in the premarket: Caterpillar, Uber, Pinterest and more
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker’s stock fell 3.7% in the premarket after its quarterly earnings beat forecasts but revenue was slightly short of consensus. Caterpillar’s sales were hurt by its exit from Russia as well as supply chain issues, and it […]
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