Check out the companies making headlines in midday trading: Abercrombie & Fitch — Shares popped 22% after the apparel retailer posted fiscal first-quarter sales that grew 22% from a year earlier. Abercrombie’s profit during the period was nearly seven times compared to the year-ago period and came in ahead of Wall Street’s estimates. Netflix — […]
Jose Luis Pelaez | Stone | Getty Images For many people, retirement planning is all about money: how to invest, how much to save, when to claim Social Security, how to best withdraw from accounts. The list goes on. Finances in retirement are an acute fear. About 2 in 3 people worry more about running […]
A Nissan Sentra sits on the lot at a dealership on November 12, 2010 in Evanston, Illinois. Scott Olson | Getty Images Nissan has warned owners of older vehicles to drop driving cars equipped with recalled, unrepaired Takata airbags the National Highway Traffic Safety Administration announced Wednesday. The NHTSA said the Japanese carmaker’s “Do Not […]
Jim Chanos Scott Mlyn | CNBC Famed short seller Jim Chanos called a lawsuit accusing him of embezzling funds for personal use, “false, baseless and defamatory.” Chanos gave the statement CNBC’s Scott Wapner in response to allegations made by a former investor in Chanos & Co. Conlon Holdings, a Chicago-based firm run by Sean Conlon, filed […]
A Goldman Sachs executive and finance industry veteran will take over as the new president of the Cleveland Federal Reserve. The central bank district announced Wednesday that Beth M. Hammack, 52, will take over when Loretta Mester steps down June 30. Hammack will take office officially on Aug. 21. In the interim, Cleveland Fed First […]
Tyler Winklevoss and Cameron Winklevoss (L-R), creators of crypto exchange Gemini Trust Co. on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. Joe Raedle | Getty Images Customers with funds locked up in crypto exchange Gemini’s defunct crypto lending […]
Check out the companies making headlines before the bell. ConocoPhillips — Shares slipped more than 3% following news that the company is acquiring Marathon Oil in a $17.1 billion all-stock deal, which is expected to close in the fourth quarter. Marathon Oil stock rose more than 7% following the announcement. Dick’s Sporting Goods — The […]
Solar panels and wind turbines in the Netherlands. Daniel Bosma | Moment | Getty Images Clean energy stocks may be underperforming in the public market, but there is still great appetite for companies focused on decarbonization in private markets — with Clean Energy Ventures’ new fund serving as the latest example. The climate tech firm […]
A worker rides a bicycle past a housing complex under construction in Beijing on May 17, 2024. Jade Gao | Afp | Getty Images BEIJING — The International Monetary Fund on Wednesday raised its forecast for China’s growth this year to 5%, from 4.6% previously, due to “strong” first quarter figures and recent policy measures. […]
A night in China’s Guizhou province at the Cliff Hotel, pictured here, starts around $83, according to Trip.com, which says the hotel was built in 2023 with 34 rooms. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese travelers are increasingly opting for cheaper domestic destinations over foreign tourist spots. Only 14% of high-income households […]