Venture capital investor Tim Draper defended Theranos CEO Elizabeth Holmes on Thursday, despite the total collapse of the formerly heralded start-up. “I feel we have taken down another great icon,” Draper said on CNBC’s “Closing Bell.” The founder and managing director of Draper Fisher Jurvetson, who was an early investor in Theranos, called the start-up […]
Read more“Cobra Kai” producers Jon Hurwitz and Hayden Schlossberg told CNBC on Thursday they have been “stunned” by the success of their sequel to “The Karate Kid.” The series, which premiered last week on YouTube Red, picks up 34 years after the original movie ends. It brings back the rivalry between Daniel LaRusso, played by Ralph […]
Read moreDropbox is set to release its first earnings report as a public company, for the first quarter of 2018, after the bell on Thursday. The cloud software company will discuss the results with analysts on a conference call at 5 p.m. Eastern time. Here’s what to expect: Earnings: 5 cents per share as expected by […]
Read moreThe National Highway Traffic Safety Administration is the second federal agency to begin looking into the fatal crash involving a Tesla Model S in Fort Lauderdale, Florida this week. “The agency will take appropriate action based on its review,” NHTSA said Thursday. It follows the National Transportation Safety Board, which said Wednesday it is sending […]
Read moreLongtime value investor Whitney George believes Apple’s market capitalization is worth at least $1 trillion. In an exclusive interview for CNBC PRO with Mike Santoli, Whitney said that the iPhone maker’s stock remains “remarkably inexpensive.” “Apple to me is still worth $200 at a minimum, and that’s assuming flat operating income for the next couple […]
Read more
Investors thrown off balance by swirling markets this year now face a new wrinkle: a sudden outbreak of normalcy. This year stocks went from an unprecedented uphill sprint in January to a nasty stumble in February, followed by months of flailing, disoriented struggle. But in the past couple of weeks, stocks have stabilized as a […]
Read moreApple and Goldman Sachs are planning a new credit card to be introduced as early as next year, The Wall Street Journal reported, citing people with knowledge of the process. The move comes as investment bank Goldman continues to make a push into consumer banking activities such as deposit-taking and personal loans. It will displace […]
Read morePrices for new and used cars fell sharply in April, even as the price of the gasoline needed to fuel them spiked. Vehicle prices fell 0.9 percent, the second-largest drop on record, according to J. P. Morgan economists. Used car and truck prices fell 1.6 percent in April, the largest decline since March 2009, according […]
Read more
The growth of bitcoin “mining” activity could send the cryptocurrency’s price as high as $64,000, investment research firm Fundstrat said Thursday. Bitcoin is created through an energy-intensive process known as mining, in which computers receive the cryptocurrency as reward for solving complex mathematical equations. Processing power to guess the solution is known as “hash power,” […]
Read moreHouse Democrats on Thursday released a complete archive of the 3,500 ads that Russia purchased on Facebook. I’m going to show you if you might have liked one of those posts, or followed a page run by the Russian Internet Research Agency (IRA.) More than 11.4 million Americans were exposed to the ads at some […]
Read more