Moody’s downgraded Ford‘s credit rating to one notch above junk bond status Wednesday and warned that it could be further cut as the Detroit automaker struggles overseas and invests an estimated $11 billion on a turnaround plan. The second largest U.S. auto manufacturer is facing weakening profit margins in North America, a retrenching business in
There’s two major factors you should consider when deciding whether or not to refinance your house: interest rates and home appreciation, said financial advisor Winnie Sun. If your house’s value has soared significantly but interest rates are up from when you first moved in, she said, you might want to hold off. “It may not
Ketamine is emerging as a way to treat depression, but it appears to act like an opioid — and it may carry similar risks, Stanford researchers found. Clinics are cropping up around the country where people receive ketamine infusions. A handful of pharmaceutical companies are using ketamine as inspiration for new prescription drugs to treat
Hewlett Packard Enterprise stock rose on Tuesday after the company reported better-than-expected earnings for the third quarter of its 2018 fiscal year, which ended on July 31. The company will hold a conference call with analysts to discuss the results at 5 p.m. Eastern time. Here’s how HPE did in the quarter: Earnings: 44 cents
Tesla is a “hope stock” with little chance of success in the car-manufacturing industry, a fund manager told CNBC on Tuesday. “Are we living in the real world?” Tesla is just another one of those hope stocks,” Peter Toogood, chief investment officer at The Embark Group, said on CNBC’s “Squawk Box Europe.” Tesla’s share price
In the latest development of the current crisis facing Papa John’s, ousted founder John Schnatter on Monday made a slew of accusations against Chief Executive Officer Steve Ritchie for causing the company’s poor performance. Those allegations, which Schnatter detailed in a letter addressed to franchisees on the website “savepapajohns.com,” blamed Ritchie for “bad financial decisions,
The British ambassador to the United States is taking a road trip this week across the Midwestern states in a borrowed electric Jaguar to meet with states that are maintaining high clean energy standards even as the Trump administration rolls back federal environmental rules. “You have to be encouraged by the number of U.S. states
European markets opened in positive territory on Monday as investors react to comments from the head of the Federal Reserve on the U.S. central bank’s policy tightening path. The pan-European Stoxx 600 index traded 0.29 percent higher in morning trade, with all sectors in positive territory. In the U.K., markets are closed due to a
Uber is planning a shift in emphasis from cars to electric bicycles and scooters for shorter journeys as part of its long-term strategy, according to the ride-hailing app’s chief executive. Dara Khosrowshahi said more individual modes of transport were better suited to inner-city travel, despite snatching revenues away from Uber’s drivers. He admitted that in
Tech executives have a higher profile than ever before, whether it’s Amazon’s Jeff Bezos becoming the world’s richest person and simultaneously a favorite punching bag of President Donald Trump or Facebook’s Mark Zuckerberg being called to testify before congress about abuse of his company’s platform by foreign actors. With fame and fortune comes security risks
The best time of year to buy a new car is the fall. “Coming into the fall is a really important time for the automotive industry when they’re trying to move the older model year vehicles out of inventory to make room for the new model year vehicles,” Charlie Chesbrough, Senior Economist at Cox Automotive,
In the loud and crowded world of satellites, start-up LeoLabs is working toward offering both governments and companies alike a solution to cut through the noise. Tens of thousands of objects fly around the Earth many times faster than a bullet, capable of destroying billions of dollars in equipment. LeoLabs wants to offer an infrastructure
The United States has started a trade war with China, and art is caught in the cross-fire. The administration announced this month that President Trump had proposed duties as high as 25 percent on $200 billion worth of imported Chinese goods “to encourage China to change its harmful policies.” The proposed tariffs, initially set at
Tesla will remain a publicly traded company, CEO Elon Musk said late Friday, just weeks after he floated the idea of going private in order to ward off short-sellers and volatility in the company’s stock. In early August, Musk touched off a firestorm by saying on Twitter that he was considering taking Tesla private at
Here’s a roundup of the most important deals in venture capital in the last week. Slack, maker of the popular business messaging app, is now worth more than $7.1 billion. On Tuesday Slack said it closed a $427 million funding round, padding its balance sheet as it takes on some of the world’s biggest tech
Shares of Foot Locker were down 12 percent on Friday, the stock’s worst day in a year, after the company posted weaker than expected sales for the last quarter. Foot Locker’s same-store sales for the second quarter increased 0.5 percent versus the 0.7 percent increase expected according to the consensus estimate from FactSet. Those sales
Amid growing awareness about climate change and a consequent shift in consumer behavior, brands are increasingly selling more sustainable goods. From vegan footwear to recycled denim and organic toothpaste, the offer to consumers is growing — but such items are often more expensive than their non-sustainable equivalents. “As a fair trade business and the only
Facebook has named Antonio Lucio as chief marketing officer, filling a post that’s been open since Gary Briggs announced his retirement in January Lucio was previously CMO at HP and also held the position at Visa and PepsiCo. He’ll start on Sept. 4. “Facebook’s story is at an inflection point,” Chris Cox, Facebook’s chief product
Mike Francesa, whose career as a sports radio host has spanned three decades, predicts the proliferation of legal sports betting around the country will change the way people watch sports. This year’s Supreme Court decision to widely open up legal sports betting in states beyond Nevada was “an amazing game changer,” said Francesa, who returned
Apple has removed Facebook’s Onavo security app from the App Store because it does not comply with its privacy rules. “We work hard to protect user privacy and data security throughout the Apple ecosystem,” an Apple spokesperson said in an email to CNBC on Wednesday. “With the latest update to our guidelines, we made it
L Brands, the parent of Victoria’s Secret and Bath & Body Works, on Wednesday lowered its profit outlook, which overshadowed quarterly earnings and revenue that topped analysts’ expectations. The company said it now expects full-year earnings per share between $2.45 and $2.70, down from its previous forecast for earnings per share between $2.70 and $3.
Shares of La-Z-Boy skyrocketed on Wednesday after the company reported better-than-expected results for its fiscal first quarter. La-Z-Boy reported earnings per share of 34 cents compared to a Thomson Reuters estimate of 25 cents. The company also beat on revenue estimates, with sales growing 7.7 percent, to $385 million, while analysts expected sales to total
European stocks are set to open lower Wednesday morning, as investors continue to monitor trade talks between the world’s two largest economies. The FTSE 100 is seen down around 23 points at 7,548; the CAC is expected to open 8 points lower at 5,403, while the DAX is poised to start down around 15 points
Facebook said that it’s removed pages and content originating in Iran and Russia for “coordinated inauthentic behavior,” the social network’s latest effort to clean up the site in the aftermath of the 2016 election. The company said in a blog post on Tuesday that it’s removed 652 pages, groups and accounts, which targeted people in
Serta Simmons Bedding will merge with direct-to-consumer mattress company Tuft & Needle, executives told CNBC on Tuesday. The deal will be one of the first to combine a legacy mattress company with the upstart online brands that have infiltrated the industry over the past few years. Serta Simmons will seek to take advantage of combining
The Earth’s climate has changed throughout history and, in recent decades, scientists have concluded that the planet is currently going through an era of warming. There is near-consensus that the latest rise in average temperatures, along with a shift in weather patterns, is in at least part attributable to human activity that has pushed an
After Walmart shares surged almost 10 percent last Thursday thanks to the company’s strong second-quarter earnings numbers, investors might be wondering if the stock has reached its peak. CNBC’s Jim Cramer doesn’t think so. “Don’t think it is too late to buy some,” the “Mad Money” host said. Cramer traces the stock’s rise back to
Nike shares climbed Monday after an analyst said the sneaker maker is gaining market share from competitors like Adidas and specialty retailers including Foot Locker and Finish Line. Nike‘s strategy to trim excess inventory and focus on selling directly to consumers is showing signs of progress, Susquehanna Financial Group analyst Sam Poser said in a
Beverage and snack giant PepsiCo announced Monday plans to acquire at-home carbonated drink-maker SodaStream for $3.2 billion. The Purchase, New York-based company agreed to pay $144 per share in cash for SodaStream’s outstanding stock, a 32 percent premium to its 30-day volume weighted average price. The deal gives Pepsi a new line through which it
Nelson Dellis has won the U.S. memory championship four times. He once memorized the sequence of a pack of cards in just over 40 seconds, and it took him just 15 minutes to master over 200 names. Considering how many people struggle with memory loss due to age and disease, there’s naturally a lot of