Surprise! Millennials are not the be-all, end-all for the stock market, CNBC’s Jim Cramer declared on Wednesday. “Just because millennials love it, doesn’t mean you should buy it,” the “Mad Money” host said. “In the last year, for example, I’ve heard this from CEOs of cruise lines, timeshare companies, recreational vehicle plays and budget hotels. […]
Read moreUncertainty around whether Broadcom could buy Qualcomm — an event that would have been the largest technology takeover ever — wasn’t the only thing weighing on negotiations, Qualcomm’s CEO told CNBC on Wednesday. “I think it was a situation where there were some questions about deal certainty, which clearly became the case, but I think […]
Read moreLeading U.S. cryptocurrency exchange Coinbase announced it would acquire securities dealer Keystone Capital in a bid to become a fully SEC-regulated broker dealer, the company said Wednesday. “If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority […]
Read moreAlphabet‘s aggressive real estate expansion in the Bay Area was a big topic at its annual shareholders meeting Wednesday, as about 50 picketers protested outside and two shareholders asked questions about how its expansion plans would affect local residents. At issue is the mega-campus Google plans to build in San Jose, which will accommodate 15,000 […]
Read moreShares of Cloudera and MongoDB dropped in extended trading even after the two developers of open-source data software reported better-than-expected first-quarter financials. Cloudera fell as much as 10 percent to $15.50 after hours, while MongoDB declined as much as 5.6 percent to $48.41. The two companies were part of a crop of software vendors founded […]
Read more
Investors betting against Tesla lost more than $1 billion Wednesday as the company’s shares rallied the most in over two years, according to estimates from financial technology firm S3 Partners. Tesla stock closed Wednesday up 9.7 percent at $319.50 per share, meaning investors who sold the stock short lost a collective $1.07 billion in a […]
Read moreCheck out the companies making headlines after the bell: Five Below shares soared more than 17 percent in extended trading. The discount retailer reported first quarter earnings and revenue that surpassed Wall Street expectations, and forecast strong second quarter and full year guidance. Five Below reported earnings of 35 cents on revenue of $296 million […]
Read more
The US economy is running at close to capacity, with only 3.8 percent unemployment. Finally, after years of unrequited anticipation, we are seeing some reasonable wage growth. Despite the 2.7 percent year-over-year current reading, this gain falls short of the close to 4 percent nominal increases seen historically during periods of low unemployment. This suggests […]
Read moreAt Tesla‘s annual shareholder meeting in Mountain View, California, on Tuesday, co-founder and CEO Elon Musk responded to a question about missed Model 3 production targets with, in part, a story about his childhood. “I think I do have like an issue with, uh, time. It’s been true since…” Musk says, interrupting his own sentence. […]
Read more
Netflix is hovering near highs after an unstoppable rally this year. A 90 percent run-up has put it at stratospheric heights, says one strategist, but the technicals suggest the sky’s the limit for the tech sector high-flyer. Its massive rally has made for some eye-popping levels on the stock’s chart, Matt Maley, equity strategist at […]
Read more