The all-consuming “Amazon effect” online is more beneficial than many Citigroup investors may think, Citi CEO Michael Corbat told CNBC. “What people have missed is … [credit] card usage has actually gone up,” Corbat said in a wide-ranging interview with “Mad Money”host Jim Cramer on Wednesday. “Sure, Amazon has benefited, but other online retailers benefit […]
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The CBOE Volatility Index (.VIX), widely considered the best gauge of fear in the market, fell Wednesday to its lowest on record. At 2:01 p.m., the VIX dropped below 9, hitting a low of 8.84, below the low of 8.89 from Dec 27, 1993. The VIX then popped back up to around 9.38 as of […]
Read moreUBS now expects a wider loss for Tesla’s second quarter, citing the company’s recent decline in quarterly vehicle deliveries. In a note sent Wednesday, UBS analyst Colin Langan said he projects a loss per share for the period of $1.80, compared with an earlier estimate of $1.32 per share. His full-year estimate is now for […]
Read moreOnce upon a time (1999 and the years that followed), there was a company named OpenTable that told San Francisco restaurants a story. Customers wanted, they said, to search for a restaurant on the wondrous world of the Internet, then click a button to make a reservation. Sure, a restaurant could just build its own […]
Read moreGoogle announced on Wednesday a new $50 million initiative to study and prepare “for the changing nature of work,” beginning with investments in the U.S. and Europe to help train job seekers and improve the working conditions for those already employed. The commitment comes by way of Google.org, the search giant’s philanthropic organization. Its president, […]
Read moreSales at casual dining restaurants may be on the mend, but the sector’s upturn wasn’t enough for Outback Steakhouse owner Bloomin’ Brands. “We have seen some strengthening of casual dining sales trends over the past two quarters since a significant pullback of the industry in Q4 2016,” Elizabeth Smith, CEO of Bloomin’ Brands, said during […]
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The U.S. dollar index is hovering near its lowest level in more than a year, and according to one strategist we may have just witnessed a bottom. Paul Ciana, chief global technical strategist at Bank of America, says there are two charts of the dollar that show how grossly oversold it is. On CNBC’s “Futures […]
Read moreAs the “sharing economy” has expanded and morphed into a seeming catch-all term for companies that connect strangers through technology, equity investors may be able to cash in on the technology-driven trend. That’s according to an exhaustive recent report from Bank of America Merrill Lynch. The report concludes the sharing economy’s influence has blown up […]
Read moreFacebook will provide initial funding for a nonprofit organization that aims to help protect political parties, voting systems and information providers from hackers and propaganda attacks, the world’s largest social network said on Wednesday. The initiative, dubbed Defending Digital Democracy, is led by the former campaign chairs for Democrat Hillary Clinton and Republican Mitt Romney, […]
Read moreIn a blistering email to its resellers, Birkenstock CEO Dave Kahan slammed Amazon‘s new inventory buying program, calling it an “assault on decency.” The email, which was obtained by The Washington Post, shows Kahan calling Amazon’s latest act a “pathetic” attempt at creating a backchannel to sell products not currently approved for sold on its […]
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