Stocks on Wall Street closed mixed and the dollar firmed overnight after the Federal Reserve kept interest rates steady ahead of Asia’s Thursday trading day. The Federal Reserve kept interest rates unchanged following the conclusion of its two-day policy meeting on Wednesday, a move that was largely expected by markets. The central bank did not […]
Read moreTesla is setting a “rough target” of producing cars in China in about three years, said CEO Elon Musk. Musk told analysts Wednesday that Tesla’s planned factory in China will likely focus on making Model 3 sedans and Tesla’s planned crossover vehicle, Model Y, for China and for some surrounding countries, Musk said. Manufacturing Tesla’s […]
Read moreThe consumer packaged goods space has been notoriously difficult, so CNBC’s Jim Cramer wasn’t all that surprised when he saw mass analyst upgrades in the stock of Kellogg. “They’ve got to like something, don’t they?” the “Mad Money” host quipped. “It might as well be Special K, down nearly 15 percent for the year with […]
Read moreTesla CEO Elon Musk said production of the electric car maker’s Model 3 sedan was held back in large part by a supplier who “really dropped the ball” at the Gigafactory. Musk spoke in depth about the problem with analysts on Wednesday after Tesla posted third-quarter losses that widely missed analyst expectations. “The primary production […]
Read moreDuring a third-quarter earnings call on Wednesday, Tesla CEO Elon Musk acknowledged that his company recently fired 2% of its employees, or 700 total, for performance-related issues. Musk said that as a relatively small competitor versus incumbents in automotive, Tesla must maintain a higher standard where employees skill-levels are concerned. “Only 2% of people didn’t […]
Read moreSome may think that CNBC’s Jim Cramer is foolish for not being afraid of the red-hot bull market, but in reality, he’s just trying to make you money. “I am actually less worried about looking like an idiot and more concerned that you might be scared away from the stocks by the tepid conventional wisdom. […]
Read moreSalesforce CEO Marc Benioff left a strong message for his 25,000 employees last month after seeing alcoholic drinks and kegs sitting in the office: take them out. “I want to remind everyone that we have a no alcohol policy at Salesforce,” Benioff wrote in an internal blog post, according to a person familiar with the […]
Read moreAmazon has secured three new domain names related to cryptocurrency, sparking speculation that the e-commerce giant could be preparing a move into the cryptocurrency space. However, Amazon Pay’s VP Patrick Gauthier told CNBC last month that Amazon had no plans to accept cryptocurrency because there hasn’t been much demand yet, and Amazon may simply be […]
Read moreYelp‘s stock price fell after hours on Wednesday amid a worse-than-expected financial forecast. Yelp said it expects to earn less revenue than expected for the full 2017 fiscal year amid a light fourth quarter. Yelp’s full-year forecast calls for $839 million to $844 million in revenue. Analysts surveyed by FactSet expected a midpoint of $861.5 […]
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Money is pouring into space. According to a report on Wednesday from investment firm Space Angels, more than $2 billion of private capital has been invested in space industry companies this year. Venture backers are following the lead of tech entrepreneurs Elon Musk, Richard Branson and Jeff Bezos, who are all racing to build and […]
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