Luxury online marketplace Farfetch made its market debut Friday, after selling 44.2 million shares and raising $885 million in the IPO with a valuation around $6.2 billion (factoring in shares already held by employees). Founded in 2008 by José Neves, Farfetch began as a platform to help local high-end boutiques reach broader audiences and later
Month: September 2018
The Trump administration’s tariffs and shrinking demand are hurting Micron’s stock and worrying Wall Street. But the company’s $10 billion buyback could be exceedingly useful for keeping its shares afloat, CNBC’sJim Cramer said Friday. “Yes, historically, this is a boom-and-bust company,” the “Mad Money” host said. “But this time may be different, because Micron has
Invesco is going to buy OppenheimerFunds, a subsidiary of Massachusetts Mutual Life Insurance, in a more than $5 billion deal, according to a report Friday by Financial Times service Ignites. The asset manager has been a holding of MassMutual for nearly two decades, but OppenheimerFunds has become steadily less valuable due to pressure from passive
UBS raised its rating of AT&T to buy from neutral on Thursday, citing a coming turnaround in the company’s operating performance and “an overly negative outlook” on AT&T shares, the firm said. “We believe the stock is trading near all-time low valuations (and the widest gap to Verizon),” UBS analyst John Hodulik said in a
On a very bullish day for the broader stock market, the declines in the retail sector were speaking volumes to CNBC’s Jim Cramer. With the trade dispute between the United States and China heating up, the “Mad Money” host figured the weakness stemmed from “a belief that the retailers will have to eat the tariffs,
CVS Health‘s $69 billion merger with health insurer Aetna will create a new data-driven health-care model that’s more personal, convenient and tailored to individual patients than ever before, CVS CEO Larry Merlo said Thursday. Merlo is, in a way, disrupting and rewriting the business model for his drugstore chain before someone else does. Announced in
A three-story brick building in a low-crime Brooklyn neighborhood in New York City was the first U.S. stop on an international route used to ship thousands of potentially dangerous counterfeit Apple electronics to America’s consumer market. The knockoff power adapters and chargers, which Apple says could cause electrical shocks, allegedly traveled from a manufacturer in
Red Hat stock fell as much as 7 percent and then rebounded on Wednesday after the company reported lower revenue than expected for the second quarter of its 2019 fiscal year, which ended on Aug. 31. Executives will discuss the results with analysts on a conference call at 5 p.m. Eastern time. Here are the
MENLO PARK, Calif. — Sandwiched between Building 20 and Building 21 in the heart of Facebook’s campus, an approximately 25-foot by 35-foot conference room is under construction. Thick cords of blue wiring hang from the ceiling, ready to be attached to window-size computer monitors on 16 desks. On one wall, a half dozen televisions will
Iran’s once optimistic tourism industry has been left in disarray following the reintroduction of U.S. sanctions against Tehran in early August. The move by President Donald Trump has led to tourists shying away from Iran, while locals are not spending their money either, both of which have had a negative effect on the country’s economy.
Google is launching a new tool for its business customers that allows managers to see whether employees are actually using its G Suite productivity apps like Gmail, Docs for document creation and sharing, Sheets for spreadsheets, or Slides for presentations. G Suite is a distant rival to Microsoft‘s Office 365 offering. As it tries to
Fuller flights are a boon to airlines but overcrowding at gates has become an unwelcome side effect. United Airlines says its customers have complained about clusters of travelers around its gates. Travelers spilled into corridors and arriving passengers who just stepped off a flight were met with hordes of departing travelers. “It’s too congested,” said
Something will have to give when Liverpool and Paris Saint-Germain (PSG) meet in the Champions League on Wednesday. Both soccer teams have enjoyed an unbeaten run of five domestic games, in the Premier League and Ligue 1 respectively, to start the season. French champions PSG are planning another attack in pursuit of Europe’s premier cup
[The stream is slated to start at about 9 p.m. ET. Please refresh the page if you do not see a player above at that time.] SpaceX CEO Elon Musk will announce the company’s latest endeavor on Monday, unveiling the identity of the person signed with the company to fly around the moon. This individual
Ever since President Donald Trump accused Google of rigging its search results against him, the company has denied having any political bias in its system. Although individual Google employees lean liberal on the political spectrum, there is no proof that the search engine’s results are purposely skewed toward any particular ideology. Other bias complaints have
European stocks are set to open lower Monday morning, amid renewed fears over an escalating trade war between the world’s two largest economies. The FTSE 100 is seen 14 points lower at 7,290, the CAC is expected to open down around 9 points at 5,341, while the DAX is poised to start down around 35
Sebastian Thrun, one of the best known entrepreneurs in Silicon Valley, is taking on a new challenge that’s a big shift from his work in autonomous transportation or online education: He’s working to automate sales chats. Thrun, who founded Google‘s research lab X and its autonomous car project, education start-up Udacity, and electric aircraft company
A new start-up is allowing some Uber users to kill two birds with one stone: Hailing a ride while checking off their shopping lists. Cargo, a convenience store on the go, is giving Uber drivers the ability to sell items like snacks, beauty products and phone chargers from a console box located in the center
If you’re like me and want the best new iPhone every year, I have one word for you: upgrade. Apple has a really good offering called the iPhone Upgrade Program, which gets you the latest iPhone annually. There are some things you should know about it, though. The iPhone Upgrade Program is a lot like
Apple may imagine a world without cords and plugs, but it’s having trouble making that vision a reality. A year after announcing AirPower, Apple’s wireless charging pad that can simultaneously charge your iPhone, Apple Watch and AirPods, the company has fallen mysteriously silent on its ambition to push forward a future of wireless power generation.
Airport security lines are long and slow, in part because of all the things we have to take out of our bags before putting them through the X-ray system. But there’s a new machine that could eventually speed things up by letting you keep everything in your carry-on bag. Analogic Corporation created a scanner that
The collapse of Lehman Brothers 10 years ago wasn’t just a reckoning for the financial system — it was an epiphany for coders and entrepreneurs who thought they could do better. Lehman’s shuttering not only stunned nervous bankers, investors and savers. It sent shockwaves throughout the global economy; a symbolic fall from grace for one
When stocks reversed course and fell on Friday after President Donald Trump doubled down on his call to place tariffs on Chinese goods, CNBC’s Jim Cramer offered investors some advice on how to approach the trade debacle. “You need to realize the president doesn’t want China to talk. He wants China to cave,” the “Mad
Colin Kaepernick’s image appears on bogus Nike coupons that have circulated online in recent days, offering huge discounts “for people of color” in the wake of the apparel giant making the controversial quarterback the face of its new ad campaign. The barcode included in one of the coupons, which can be found on 4chan, an
Apple’s latest model of its Apple Watch, complete with new health features ostensibly targeting the aging population, could be the company’s key to unlocking an even larger customer base, CNBC’s Jim Cramer said Thursday. “If you get the watch, you’re going to get the phone. That’s the way it works,” the “Mad Money” host said.
It all started with a slice and a camera. At least that’s how Barstool Sports CEO Erika Nardini describes the birth of One Bite, her company’s pizza-reviewing app that has seen a meteoric rise since Barstool Sports founder Dave Portnoy started casually reviewing pizza parlors. “Dave likes to talk about pizza, so that’s really where
Amazon CEO Jeff Bezos offered some new insight into how he views his ownership of the Washington Post on Thursday, writing that his stewardship helps “support…American democracy.” The views were expressed in a note Bezos wrote to announce the creation of a $2 billion fund to help fight homelessness and establish high-quality preschools for low-income
The European Central Bank (ECB) is expected to stick to its policy stance at their upcoming meeting on Thursday as inflation does not seem to accelerate and growth remains solid. “It is clear that the most recent Inflation figures do not suggest in any way that the ECB will need to deviate from its ‘prudence,
Tesla and Space X CEO Elon Musk should be allowed to just be himself, noted astrophysicist Neil deGrasse Tyson told CNBC on Wednesday. Musk has come under scrutiny for his recent behavior, which includes his controversial tweet about taking Tesla private and appearing to smoke weed during a Sept. 6 podcast. “I went to a
At hotpot restaurants in China, most of the ingredients are relatively inexpensive. Customers dip pieces of raw meat and vegetables into a big vat of simmering broth until everything cooks and bubbles to the surface. For one Chinese restaurant chain, however, an item found by a customer at one of its outlets has proved to