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Stitch Fix shares sink another 12% as company announces layoffs, offers weak guidance
Stitch Fix said Thursday that it is laying off 15% of salaried positions within its workforce, mostly in corporate roles and styling leadership positions, in a bid to trim expenses amid red hot inflation and waning consumer demand for certain items. CNBC was first to report on the layoffs, which the company confirmed Thursday afternoon […]
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Here are Wednesday’s biggest analyst calls of the day: Netflix, Target, Affirm, Uber, Amazon & more
Here are the biggest calls on Wall Street on Wednesday. Source
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Stocks making the biggest moves premarket: Campbell Soup, Moderna, Western Digital and others
Check out the companies making headlines before the bell: Campbell Soup (CPB) – The food producer’s shares rallied 3.7% in the premarket after Campbell reported an adjusted quarterly profit of 70 cents per share, 9 cents above estimates. Sales also beat forecasts, and the company raised its full-year sales outlook. Campbell also maintained its prior […]
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Ford tops the list of the cheapest stocks in the market right now
While the short-term market outlook looks quite precarious, investors seeking buys for the long term are likely finding tons of value possibilities after the sizable pullback in stocks so far this year. CNBC PRO ran a screen looking for the cheapest stocks relative to the rest of the market and their historical valuations. Here’s the […]
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OnlyFans says it’s not seeing a Netflix-like slowdown in subscribers despite rising inflation
In this photo illustration, the OnlyFans logo is displayed on a smartphone. Sheldon Cooper | SOPA Images | LightRocket via Getty Images AMSTERDAM — OnlyFans is not experiencing a slowdown in subscribers like Netflix even as people grapple with rising prices, executives at the company said Tuesday. “We’re not experiencing that slowdown,” Keily Blair, OnlyFans’ […]
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Dan Niles says the U.S. is staring at a recession — and reveals which trades will be more resilient
Market watchers have been mixed on if, and when, a recession is on the horizon, but hedge fund manager Dan Niles said it is clear that the U.S. economy is headed for one. The U.S. economy has been plagued by a confluence of decades-high inflation and what many expect to be an aggressive rate hike […]
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Dan Niles sees more pain in tech — and reveals an opportunity in the sector
Tech stocks may have already suffered a massive sell-off this year, but hedge fund manager Dan Niles thinks there could be even more pain ahead for the sector. He tells CNBC why and reveals where he sees an opportunity in the sector. Tech stocks have taken a drubbing this year as market volatility worsened and […]
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Jim Cramer says these three Big Tech stocks have ‘nowhere else to go but up’
CNBC’s Jim Cramer told investors on Tuesday that some stocks have fallen so far from their highs that they will inevitably rally. “While they may stay losers, the bottom line is they’ve fallen so darn far that I think they’ve become metaphors for a whole host of stocks that are now ready to rally because […]
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The first act of the streaming wars saga is over — Netflix’s fall from grace has ushered in the pivotal second act
Reed Hastings, Co-CEO, Netflix speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S. October 18, 2021. David Swanson | Reuters The media and entertainment industry prides itself on its mastery of classical storytelling’s three acts: the setup, the conflict and the resolution. It’s safe to declare the first act of the […]
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Help (mostly) wanted: A diverging job market boosts some workers’ prospects and puts others on notice
A help wanted sign is displayed in the window of a Brooklyn, New York business. Spencer Platt | Getty Images Cracks are forming in the U.S. labor market as some companies look to curb hiring while others are desperate for employees. Microsoft, Twitter, Wayfair, Snap and Facebook-parent Meta recently announced they plan to be more […]
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