Credit Suisse projects $1.6 billion fourth-quarter loss

Credit Suisse projects $1.6 billion fourth-quarter loss

Switzerland’s second largest bank Credit Suisse is seen here next to a Swiss flag in downtown Geneva. Fabrice Coffrini | AFP | Getty Images Swiss credit on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) fourth-quarter loss as it undertakes a massive strategic overhaul. The embattled lender last month announced a raft of measures … Read more

As Qatar bans beer in stadiums, World Cup sponsor Budweiser touts promotional efforts in other countries

As Qatar bans beer in stadiums, World Cup sponsor Budweiser touts promotional efforts in other countries

The shock decision by Qatar to ban beer sales in stadiums appeared to leave World Cup sponsor Budweiser scratching its head on Friday, as it acknowledged “circumstances beyond our control.” Qatar’s abrupt reversal came just two days before the tournament kicks off, reportedly prompting a snarky and now-deleted tweet of “Well, this is awkward …” … Read more

Dow futures drop 300 points as rates jump, raising fears about a recession

Dow futures drop 300 points as rates jump, raising fears about a recession

Stock futures fell Thursday as interest rates jumped with Federal Reserve officials signaling interest rate hikes to slow inflation are far from over. Futures tied to the Dow Jones Industrial Average dipped 316 points, or 0.9%. S&P 500 futures slipped 1.1%, while Nasdaq-100 futures fell 1.2%. St. Louis Federal Reserve President James Bullard said in … Read more

Opinion: This record number in Nvidia earnings is a scary sight

Opinion: This record number in Nvidia earnings is a scary sight

Nvidia Corp.’s financial results had a bit of a surprise for investors, and not on the good side — product inventories doubled to a record high as the chip company gears up for a questionable holiday season. Nvidia reported fiscal third-quarter revenue that was slightly better than analysts’ reduced expectations Wednesday, but the numbers weren’t … Read more

Retail sales jump in October in sign of US economic strength. Too much for the Fed?

Retail sales jump in October in sign of US economic strength.  Too much for the Fed?

The numbers: Sales at retailers jumped 1.3% in October, signaling US consumers are still spending plenty of money despite efforts by the Federal Reserve to slow the economy. Retail sales were forecast to rise 1.2% last month, according to economists polled by The Wall Street Journal. That’s the biggest increase in eight months. Receipts rose … Read more

Walmart (WMT) earnings Q3 2023

Walmart (WMT) earnings Q3 2023

Customers outside a Walmart store in Torrance, California, US, on Sunday, May 15, 2022. Walmart Inc. is scheduled to release earnings figures on May 17. Bing Guan | Bloomberg | Getty Images walmart on Tuesday will report its fiscal third-quarter earnings before the bell, as the retail giant caters to inflation-squeezed customers and gears up … Read more

Why investors have jumped off the Carvana bandwagon

Why investors have jumped off the Carvana bandwagon

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC DETROIT – Last year, carvana CEO and cofounder Ernie Garcia went on a victory lap. He touted the company’s “landmark” second-quarter results on Aug. 5, 2021 that included the used car retailer’s first-ever quarterly net profit. He then reminisced about the rapid growth of “a bunch of … Read more

Disney plans job cuts and hiring freeze, CEO Bob Chapek says in memo

Disney plans job cuts and hiring freeze, CEO Bob Chapek says in memo

disney plans to institute a targeted hiring freeze as well as some job cuts, according to an internal memo sent to executives. “We are limiting headcount additions through a targeted hiring freeze,” CEO Bob Chapek said in a memo to division leads sent Friday and obtained by CNBC. “Hiring for the small subset of the … Read more

Crypto and tech are the first dominoes to fall as stimulus liquidity dries up, says this money manager. Here’s what could happen next.

Crypto and tech are the first dominoes to fall as stimulus liquidity dries up, says this money manager.  Here's what could happen next.

CPI data is out and stocks are revving up for a bullish session as stock futures explode higher on softer-than-expected inflation. Markets probably didn’t need another more brick on the 2022 wall of worries, but got one anyway as FTX, the world’s third largest crypto exchange, is teetering on a collapse that could upend already … Read more

Beyond Meat (BYND) Q3 2022 earnings

Beyond Meat (BYND) Q3 2022 earnings

Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its third quarter as demand for its meat substitutes tumbled. CEO Ethan Brown called the results “disappointing” … Read more