Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
Month: July 2020
Shake Shack, one of the many storefront businesses boarded in downtown Brooklyn over the fears of looting. Erik McGregor | Getty Images Just looking at the earnings for Apple, Amazon, Facebook and Google, you might get the impression that everything is going swimmingly for second- and third-quarter earnings. But that’s not the case. “We continue to
A pedestrian wearing a face mask looks at a smartphone while passing in front of the New York Stock Exchange (NYSE) in New York, on Monday, July 20, 2020. Michael Nagle | Bloomberg | Getty Images The market could lose some of its exuberance in the week ahead as the calendar turns to August, and
Shot of Corridor in Working Data Center Full of Rack Servers and Supercomputers with Blue Neon … [+] Visualization Projection of Data Transmission Through High Speed Internet. getty In a nutshell, QTS Realty kicked off data center REIT earnings last week hitting on all cylinders and raising FY 2020 Guidance across the board, including revenue,
The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens
During its third quarter earnings results on Thursday Apple said that the company’s shareholders approved a four-for-one stock split. Stock splits are cosmetic, meaning they do not change anything about a company’s underlying fundamentals. They can lead to renewed interest from smaller investors by making the shares — which are now cheaper — more accessible.
Jason Gorevic, CEO, Teladoc Scott Mlyn | CNBC Earnings reports are coming in fast and furiously, and with a large percentage of companies declining to provide guidance, reporters and analysts are combing through corporate press releases and earnings calls for signs of how business is doing. Semiconductors continue to be the all-round winner Equipment maker
A woman works at a distrubiton station at the 855,000-square-foot Amazon fulfillment center in Staten Island, New York, on February 5, 2019. Johannes EIsele | AFP | Getty Images Check out the companies making headlines after the bell: Facebook — The social media giant’s stock surged 6% in extended trading following the release of the company’s
A new rule removes the requirement that local jurisdictions in suburbs prove they are addressing … [+] racial disparities. getty President Trump claimed victory Wednesday in revoking an Obama-era housing regulation designed to eliminate racial disparities in the suburbs. He took to Twitter to announce, “I am happy to inform all of the people living
Timothy Young and his family Source: Timothy Young On Monday, July 27, two days after the eviction moratorium in Maryland expired, Timothy Young, his wife, Tammy, and their two children, Hermione, 8, and Negan, 2, scrambled to move out of their duplex. They’d received their notice to vacate. Young estimates that he’s applied to more
A smart phone with the icons for the J.P. Morgan apps. Christopher Wong | S3studio | Getty Images JPMorgan Chase is ditching plastic for some of its credit cards. The Wall Street giant’s commercial cards team is partnering with Bay Area start-up Marqeta to launch digital-only credit cards. The new function will allow JPMorgan corporate cards
The stock market is holding up well because it believes three things are happening: 1) a vaccine is coming, 2) there will be almost infinite stimulus from the Federal Reserve, and 3) the second quarter was the worst quarter for corporate profits and those profits will slowly improve. But there’s a subtext to much of
A closed sign is displayed in the window of a business in a nearly deserted lower Manhattan on April 17, 2020 in New York City, Spencer Platt | Getty Images When the government releases gross domestic product data on Thursday, it is expected to show an unprecedented contraction of nearly 35% in the second quarter
Couple and receptionist at counter in hotel wearing medical masks as precaution against virus. Young … [+] couple on a business trip doing check-in at the hotel Getty Prior to the Covid pandemic, hotel occupancy rates were hitting record highs and average daily rates (ADRs) were rising. Now, with the possible exception of restaurants and
People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. U.S. Federal Reserve Chair Jerome Powell on Thursday said the COVID-19-induced economic downturn has inflicted acute pain across the country, noting that the burden is not evenly spread. Ting Shen | Xinhua via Getty Images Some borrowers benefit
Virgin Galactic is giving its customers a first look inside the cabin that will carry them to the edge of space and back, as the space tourism company gets closer to finishing development of its spacecraft. “Every seat is a window seat,” Virgin Galactic design director Jeremy Brown told CNBC about the interior. The cabin’s design
A customer leaves a Sherwin-Williams Co. store Daniel Acker | Bloomberg | Getty Images With one-third of the S&P 500 reporting, there’s a battle shaping up between two stories. One is somewhat bearish: The reopening is slowing, and the second half will not see the V-shaped recovery anticipated at the height of reopening euphoria in
Check out the companies making headlines after the bell: Starbucks — Shares of the coffee giant jumped 5% in extended trading after the company posted its third-quarter financial results. The company reported a third-quarter loss of 46 cents per share excluding some items on revenues of $4.22 billion. Analysts surveyed by Refinitiv expected as a loss of
Montage Cay is a 48-acre private island in The Abacos Islands in the Bahamas. Montage Hotels & … [+] Resorts will develop 50 all-suite guest accommodations and a residential community on the island. Courtesy of Montage Cay Montage Hotels & Resorts, a global leader in luxury hotel management, will open its first resort in the
Real estate agents leave a home for sale during a broker open house in San Francisco, California. Justin Sullivan | Getty Images Home prices continued to rise in May, albeit at a slightly slower pace than they did in April — likely due to the brief but sharp slowdown in home sales as the coronavirus
CNBC’s Jim Cramer urged investors Monday to remain cautious about the length of time it takes to develop a successful coronavirus vaccine, saying that Massachusetts-based biotech firm Moderna may be painting too rosy of a picture. “It’s not a simple case. You don’t just say, ‘Hey, look at this. These people didn’t get Covid over a couple weeks.’
GP: A logo of a Virgin Galactic is seen outside the building during the company’s first day of trading on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines after the bell: F5 Networks — Shares of the
Real estate agents and real estate brokers, on average, earn higher salaries than the national … [+] average for all occupations, $53,490. getty Last year, we took a look at how much real estate agents earn on average in all 50 states based on data from the Bureau of Labor Statistics’ (BLS) 2018 Occupational Employment
A family is evicted from their Longmont, Colorado, home in September 2011. John Moore | Getty Images News | Getty Images An unprecedented eviction crisis will soon hit the U.S. On Friday, the federal moratorium on evictions in properties with federally backed mortgages and for tenants who receive government-assisted housing expired. The Urban Institute estimated that provision
Take a look at some of the biggest movers in the premarket: Verizon (VZ) – Verizon reported quarterly profit of $1.18 per share, 3 cents a share above estimates. Revenue beat forecasts as well. Verizon said it experienced a negative impact from Covid-19, which hurt wireless service and ad spending revenue. American Express (AXP) –
Gary Sinise channeled his paraplegic Lt. Dan character from Forrest Gump into a foundation that … [+] builds accessible homes for wounded warriors. Gary Sinise Foundation If you’re a wheelchair user or have other physical conditions that impact your use of public and commercial spaces, July 26 is a date worth celebrating. Thirty years ago
Peopleimages | E+ | Getty Images Financing a home might be more accessible than you think. You’ve probably heard of Fannie Mae and Freddie Mac, two entities created by Congress that buy and guarantee mortgages through the secondary mortgage market to expand opportunities for homeownership and affordable rental housing. “Those are the biggest chunk [of home
With airlines suffering from low traffic and billions in losses, investing in airports right now may seem unwise. But, in fact, airport bonds have been outperforming the broader municipal bond market. Strategists say it’s because airports went into the Covid crisis with a lot of cash on hand and that should help them weather the
The CARES Act eviction ban expires today. Here are the bills in Congress that aim to offer further … [+] assistance for struggling renters. getty The CARES Act eviction moratorium expires today, as the U.S. House and Senate are yet to engage in discussions how to support renters in the protracted economic downturn amid rising
Blake Nissen | The Boston Globe via Getty Images If there is an upside to all the pandemic-induced uncertainty in the economy, it’s the rock-bottom mortgage rate bonus for homeowners and homebuyers. The average rate on the popular 30-year fixed just fell to another record low — 2.87%, according to Mortgage News Daily. That is
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