Business
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Big Tech has made earnings look better, but here come Disney and PayPal
Most of the first-quarter earnings blizzard has passed, and the results, overall, haven’t been as bad as expected — thanks in large part to the nation’s biggest tech companies: Apple Inc., Amazon.com Inc. and Microsoft. The S&P 500 index SPXhas largely moved sideways over the past few weeks, as markets try to stomach concerns about…
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Should I invest $20,000 in cash or stocks? The stock market is volatile, and the Fed hiked rates (again).
I just moved to the U.S. to join my family, and I have about $20,000 in my bank account, and I’m not sure how to invest it. I have no need for the money at the moment, but I’ve applied for a master’s program and want to fill out a Free Application for Federal Student…
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The party’s over for America’s housing market, but this real-estate CEO believes it will recover
The pandemic home-buying frenzy came to a screeching halt when the U.S. Federal Reserve raised interest rates last June. Rates have since doubled, remaining firmly above 6%. After home sales plunged, the housing sector has recovered somewhat, but it is now facing a shortage of homes for sale, leading the market into a bidding frenzy…
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LeBron James pictured wearing $791 Nike sneakers that are only available via an NFT. Here’s how that works.
In a new set of photos of basketball star LeBron James in Los Angeles, he’s seen wearing red and black Nike sneakers. While it may appear like a regular pair of shoes, the process of obtaining them isn’t as straightforward as buying them with cash or a credit card at a store. The special-edition sneakers…
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Cannabis company offers jobs to laid-off Burger King employees in Michigan
A cannabis business operating in Michigan said it would hire laid-off Burger King employees to roll marijuana joints for $16 an hour, although the job picture remains mixed in the cannabis sector depending on the state. As Shryne Group Inc.’s Stiiizy cannabis business expands in Michigan, the company has offered to hire hundreds of Burger…
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Dow ends up more than 500 points, U.S. stocks snap 4-day losing streak after jobs report, Apple earnings
U.S. stocks closed sharply higher Friday, with all three major benchmarks snapping four straight days of losses, after strong jobs data for April, Apple Inc.’s better-than-forecast earnings report and a rebound in shares of regional banks. How stocks traded For the week, the Dow fell 1.2%, the S&P 500 declined 0.8% and the Nasdaq edged…
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Why DraftKings CEO Jason Robins isn’t celebrating the company’s big year: ‘I’ll gloat when I’m dead’
Thirteen months ago, the DraftKings Inc. DKNG stock was in a rut. It was down 43% over the previous three months, and down 72% over the previous year. This prompted CEO Jason Robins to fire off an infamous tweet suggesting that people would regret selling the company’s stock. “That was really meant more for my…
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AMD stock ends week higher as post-earnings loss erased by Microsoft AI hopes
Advanced Micro Devices Inc. shares rallied Friday to eliminate steep losses from Wall Street’s skepticism following the chip maker’s earnings report. AMD shares dropped more than 9% Wednesday after the chip maker’s optimism for the second half of the year did not rub off on analysts, but a rebound began Thursday following a report that…
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Elizabeth Warren to ex-First Republic Bank CEO: ‘You owe your customers and the public an explanation’
That’s from a letter Massachusetts Sen. Elizabeth Warren sent to First Republic Bank’s former CEO Michael J. Roffler on Thursday. First Republic Bank collapsed this week. It was the second largest bank failure in U.S. history and the fourth U.S. bank to fail this year — federal regulators later sold it to JPMorgan Chase JPM.…
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Carvana’s stock jumps 25% after narrower quarterly loss for online used-car retailer
Shares of Carvana Co. rallied 25% in the aftermarket Thursday after the online used-car company narrowed a quarterly loss and said it expects to reach positive adjusted EBITDA in the current quarter. Carvana CVNA lost $286 million, or $1.51 a share, in the first quarter, compared with a loss of $506 million, or $2.89 a…