Airbnb is one of the big anticipated IPOs of next year and it’s finally giving the public a taste of its revenue for the first time in its ten year history. The home-sharing startup recognized “substantially more” than $1 billion in revenue in the third quarter, according to a memo to be publicly released by
Chipmaker Nvidia was a major beneficiary of the crypto-boom last year. But by now, the party is over and the hangover is starting to set in. In its disappointing earnings report Thursday, Nvidia executives outlined a drop in revenue for the current quarter based on lack of demand for its gaming cards. Cryptocurrency mining had
STR | AFP | Getty Images Visitors crowd around the Nvidia booth at the 2016 China Digital Entertainment Expo, known as ChinaJoy, in Shanghai. Nvidia shares fell steeply after the chipmaker gave weak fourth quarter revenue guidance when it reported third-quarter earnings after the close on Wednesday. “After many years of near flawless performance, Nvidia
Matt Tremel Saxophonist, U.S. Navy The Education Department forgave Tremel’s $14,000 in student debt earlier this year. “I was ecstatic,” he said. His advice might sound a little cynical. “You can’t trust anybody who tells you something,” he said. For example, Tremel verified, via the Education Department’s website, all of the information he received from
Don Emmert | AFP | Getty Images A crowd of people attend the sale where David Hockney’s Portrait of an Artist (Pool with Two Figures) is displayed at Christie’s in New York. A painting by British artist David Hockney has sold for more than $90 million — a world record price for a work by
Huawei CEO Richard Yu gives a press conference to present the new Huawei Balong 5G01, a 3GPP 5G commercial chipset on February 25, 2018 in Barcelona, on the eve of the inauguration of the Mobile World Congress (MWC). Earlier this year, six top U.S. intelligence officials warned American consumers not to buy Huawei phones. Yu
Thermo Fisher Scientific Inc.: “What a great company. $93 billion market cap company, run incredibly well. That’s my kind of company for this environment.” Arconic Inc.: “We’re not arbitrageurs. Let’s just take the profit and run, or even, frankly, let’s just go, because we don’t know how that deal’s going to work out.” Qualcomm Inc.:
General Electric’s troubles have been followed by many, but two Wall Street analysts have correctly called the industrial’s prolonged downfall every step of the way, CNBC’s Jim Cramer said Thursday. Stephen Tusa, an analyst at J.P. Morgan, and John Inch, a Gordon Haskett analysts formerly of Deutche Bank, “have been negative on GE for ages
Josh Elelson | AFP | Getty Images The burned remains of a vehicle and home are seen during the Camp fire in Paradise, California on November 8, 2018. Shares of utility PG&E popped 37 percent in after hours trading Thursday, a sharp move upward for the stock, which has fallen more than 50 percent this
Tyrone Siu | Reuters Nvidia co-founder and CEO Jensen Huang attends an event during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Check out the companies making headlines after the bell: Nvidia shares plummeted as much as 16 percent during after-hours trading Thursday after the company missed on revenue. The chipmaker reported
“You’re in a completely different position with that kind of money,” Chancey said. “You can build your own financial services team that is dedicated all day to your financial affairs.” For both Bailey and West, minimizing taxes likely will factor prominently in their financial decisions. While both winners had taxes withheld from their share, it
The Federal Reserve in 2019 will launch a broad look at how it conducts policy and conveys what is doing to the public. Central bank officials announced Thursday that they will look at “strategies, tools, and communication practices” the Fed uses to formulate monetary policy. Such a review has been a topic of discussion at
Ever get an uncomfortable feeling in your stomach during a job interview? Ever see two interviewers swivel their heads toward one another, lock eyes and pause before answering your question? If you’re the kind of person who wants to know the other side of the story, here’s a way to interpret some interview clues that
At least four Apple suppliers have cut their revenue forecasts this week, fueling speculation that Apple is scaling back manufacturing of the iPhone. Apple said earlier this month it would stop reporting individual unit sales and revenue figures for the iPhone, leading some to speculate that the company has something to hide. Reports that its
Longtime investor Paul Meeks believes it could take months until the Nasdaq stages a sustainable comeback. Meeks, who ran the world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, predicts the correction gripping the tech-heavy index will only get deeper due a particularly hard-hit group of stocks, which doesn’t include
About 13.6 million Medicare beneficiaries were using Medigap policies to reduce their out-of-pocket outlays in 2017. That’s about 22.5 percent of the 59 million people on Medicare. These policies can only be used with original Medicare, not Advantage Plans. While about a third of Medicare recipients (19 million) have an Advantage Plan and their ranks
Amy and Bill Keane had long dreamed of a “see the world” retirement, since busy careers limited their vacation time. “We’ve been living that dream now for nearly seven years,” Amy Keane said. The Keanes visited Ecuador twice before deciding to move to Cuenca. On each trip, there were meetings with realtors, visa attorneys, insurance
J.C. Penney on Thursday reported quarterly revenue that fell short of analysts’ expectations, sending shares down more than 10 percent in premarket trading, to just above a dollar a share. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Losses per share: 52 cents,
Walmart on Thursday reported earnings that topped analysts’ expectations and raised its forecast for the full year heading into the holiday season. Earnings were fueled by robust e-commerce sales, as the company continues to gobble up online brands to compete with Amazon in categories like apparel and home goods, while also scaling its grocery business.
European stock indexes opened higher on Thursday as investors digest the latest news on Brexit and keep an eye on U.S.-China trade talks. The pan-European Stoxx 600 was up 0.8 percent, with all major indexes in positive territory. On Wednesday, British Prime Minister Theresa May said she had obtained enough support from senior members of
Federal Reserve Chairman Jerome Powell’s comments about the U.S. economy on Wednesday may have been the central bank chief’s first real acknowledgment of an economic slowdown, CNBC’s Jim Cramer says. “It’s the first time that I’ve actually heard Jay Powell say, ‘You know what? We’ve got to be careful, because there are signs of the
Things may be looking up for U.S.-China trade relations, which in turn is good for networking hardware colossus Cisco Systems, Chairman and CEO Chuck Robbins told CNBC on Wednesday. “We’re beginning to hear some positive sound bytes around this,” Robbins told Jim Cramer in an exclusive “Mad Money” interview. “I’m optimistic that we’ll get to
Federal Reserve Chairman Jerome Powell expressed confidence in U.S. economic strength Wednesday and said markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019. During a question-and-answer session in Dallas, Powell conceded that the global economy is not growing at the same pace
“It’s not the Cambridge Analytica stuff that’s [as] concerning as some of the other stuff with margins and what’s going on there,” he added. “But look, the stock still trades — it looks like it’s still trading at 16, 17 times” next year’s earnings estimates. Appaloosa also more than doubled its position in PG&E by
Warren Buffett famously used to avoid technology stocks. Now he seems to have embraced them. Berkshire Hathaway reported a 41.4 million share stake of computing giant Oracle as of the end of September, according to a regulatory filing on Wednesday. Buffett’s conglomerate also has been building a substantial stake in Apple for the last two
Cisco stock rose 5 percent after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year. Executives will discuss the results with analysts on a conference call at 4:30 p.m. Eastern time. Here’s how the company did: Earnings: 75 cents per share, excluding certain items, vs. 72 cents per share as
The company also broke out some figures for Uber Eats to the press for the first time, saying it accounted for $2.1 billion in gross bookings in Q3. That’s an increase of 150 percent from the same quarter a year ago, Uber says. Uber is rapidly expanding its food delivery business and is investing in
As you shop around for coverage, be aware that premiums for your Medicare Advantage plan only tell part of the story. Be cognizant of your plan’s out-of-pocket maximums, deductibles — spending limits you must hit before your insurer begins to cover costs — as well as any copayments and coinsurance you need to pay for.
Coca-Cola has scaled back its Christmas truck’s annual tour of the U.K. following protests from health activists. The truck will visit 24 towns and cities around the U.K. throughout November and December — down from 42 locations last year. Coca-Cola’s annual marketing push has faced various demands from campaigners, ranging from a stop to the
When Eads’ son was diagnosed with cancer, he retired earlier than he expected to tend to him. His son eventually died. During these difficulties, Eads put his loans into multiple forbearances, which are temporary postponements of payments, during which interest accrues. The 71-year-old man now owes more than $60,000, more than double what he originally
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