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
Streaming services such as Netflix, Hulu and Amazon are increasingly fighting for eyes — upping content spends and rounding out studios. But industry leaders are fighting a different battle for dollars with their youngest viewers. Streaming subscribers are sharing passwords and skirting systems in increasing numbers, creating an increasingly expensive problem for streaming services. Getting
Every day after he leaves his job as a warehouse general manager, Cody Henderson runs up to three miles. Then, he sets up cornhole boards and practices throwing beanbags for a couple hours, focusing on timing, balance and precision. “It helps a lot with the endurance and mental game,” Henderson, 27, told CNBC. “If you
Tiger Woods is no longer golf’s reigning king, but he still steals the show — and that’s just fine with 2017 PGA champ Justin Thomas. In fact, while Woods hasn’t scored a major title in a decade, he was the main attraction last weekend at the U.S. PGA Championship. He ultimately came in second place,
When Lisa Mulhall raised her hand at the recent student debt clinic in Woodbury, New York, she had no idea that she was about to hear something that would change the rest of her life. The fifth-grade teacher, who is carrying around $30,000 in student loans, explained that she’d been told by her servicer that
Here’s a roundup of the most important deals in venture capital in the last week. Alphabet invested $375 million in Oscar Health, a six-year-old health insurance start-up co-founded by Joshua Kushner. The investment comes just a few months after two other subsidiaries of Alphabet — another investment arm, Capital G, and life sciences division Verily
The $300 million acquisition of Zoes Kitchen by Cava Group might seem like just another merger in the highly competitive restaurant industry, but the deal has something most don’t — the involvement of industry veteran Ron Shaich. Shaich heads up Act III Holdings, the investment fund that offered to help finance Cava’s acquisition of Zoes.
Telsa board members are concerned about Elon Musk’s use of Ambien and recreational drugs, according to an explosive interview with The New York Times published late Thursday. Musk said in the interview he now needs Ambien to sleep, but board members are concerned that the drug isn’t having the intended effect for Musk, the New
As an industry reliant on patient records and beset by outdated technology, health care is widely thought to be a prime target for an artificial intelligence revolution. Many believe the technology will provide a host of benefits to clinical practitioners, speeding up the overall experience and diagnosing illnesses early on to identify potential treatment. Just
Nvidia stock fell by 6 percent on Thursday after the company reported better-than-expected earnings and lower-than-expected revenue guidance. The company will hold a conference call with analysts at 5:30 p.m. Eastern time. Here are the major numbers: Earnings: $1.76 per share, excluding certain items, vs. $1.66 per share as expected by analysts, according to Thomson
A CNBC story that came out last week, titled “With this strategy, ‘You can’t avoid becoming a millionaire’,” caused quite the stir among readers. In the article, Michael Taylor, author of personal finance tome “The Financial Rules for New College Graduates,” said that anyone could retire as a millionaire — if they invested just $5
Cisco stock rose more than 6 percent on Wednesday after the company reported better-than-expected earnings for the fourth quarter of its 2018 fiscal year, which ended on July 28. Here’s how the company performed: Earnings: 70 cents per share, excluding certain items, vs. 69 cents per share as expected by analysts, according to Thomson Reuters.
Ride-hailing company Uber is still on track to book more than $10 billion in revenue this year, although growth has slowed and its losses widened since the first quarter, according to the company’s self-reported financials. Uber told CNBC its Q2 net revenue was $2.7 billion, up 51 percent from the same quarter last year, and
MoviePass’ parent company, Helios and Matheson Analytics, lost $100 million in the second quarter, according to its most recent quarterly report filed late Tuesday, on pace to blow through its remaining assets in the next quarter if its new turnaround plan doesn’t work out. Helios and Matheson posted a gross loss of $104.6 million, a
Walmart is partnering with Ellen DeGeneres on a new clothing line as the retailer looks to bulk up its apparel brands in stores and online to compete with the likes of Amazon and Target. The move builds on Walmart’s partnership with Lord & Taylor that was rolled out earlier this year on Walmart.com. Walmart also
U.S. fans of Guinness won’t have to travel to Dublin to indulge in a tour and tasting experience of one of the most recognizable brands in the beer industry. Makers of the beer toasted the opening of the $90 million Guinness Open Gate Brewery & Barrel House Aug. 3 near Baltimore, its first U.S. brewery
Tesla‘s board has formed a special committee to evaluate CEO Elon Musk‘s desire to go public, the company said Tuesday. The committee has not yet received a formal proposal from Musk, but it’s another signal that the company is seriously considering the option. Any action to take the company private will need the approval of
Elon Musk said Monday that he is working with Goldman Sachs and Silver Lake on taking Tesla private. In a Twitter post, Musk said those two firms are acting as financial advisors, and he’s also working with Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors. Elon Musk tweet: I’m excited
What a difference the birth of a granddaughter can make. For Lee Scott, who ran Walmart from 2000 to 2009, the arrival of his granddaughter not only convinced him the threat of global warming was real but set him on a course that altered the very DNA of the world’s largest retailer. He decided he
Leonard Riggio radically altered bookselling in America when he bought an ailing New York City bookstore and turned it into a national chain of megastores. Now, his company — Barnes & Noble — is floundering, the publishing industry that depends on it is worried, and Mr. Riggio has nobody to turn to but himself. That