Elon Musk is on a roll. On the weekend of June 23, his company SpaceX successfully completed two back-to-back rocket ship launches. Then on Wednesday, Musk announced The Boring Company, the infrastructure business he founded in 2016, has completed the first leg of its dig to create a tunnel underneath Los Angeles. He shared his […]
Read moreGoldman Sachs on Thursday issued a mea culpa of sorts, releasing a research note explaining how it misread the crude oil market, after the bank significantly lowered its price forecast. In light of the recent downturn in oil prices, the investment bank was forced to revise its forecast for U.S. crude to average $55 per […]
Read moreProminent Silicon Valley investor Peter Thiel spent just 12 days in New Zealand over the course of five years before the country allowed him to become a citizen, according to documents the country’s government released on Wednesday. Thiel, who was born in Germany and has citizenship there and in the U.S., petitioned for New Zealand […]
Read moreAlibaba founder Jack Ma has mixed feelings about the future. On the one hand, he is concerned about the number of jobs automation will take from humans. He predicts that the next 30 years will be “painful” for many. But, he adds, for those who can adapt to the demands of the changing labor market […]
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Bank stocks rose sharply on Thursday after the Federal Reserve cleared capital returns programs for the big banks. The central bank did not object to any of the buybacks or dividend hikes from the 34 banks it reviewed during the second phase of its annual stress test. This is the first time in the seven-year […]
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Today marks the ten-year anniversary of the June 29, 2007 original Apple iPhone launch. Not only did the iconic smartphone massively disrupt multiple technology industries in the last decade, it generated amazing returns for investors. The iPhone’s success drove Apple to become the most valuable company in the world with a current market value of […]
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Pier 1 Imports saw its stock tumble more than 10 percent Thursday morning after the retailer reported a smaller-than-expected loss but revenue that fell short of expectations. Like many other retailers, Pier 1 has been struggling to adapt as more shoppers opt to ring up purchases online in place of shopping at brick-and-mortar locations. Some […]
Read moreMatt Salzberg, founder and CEO of Blue Apron, saw his company going public from its inception, he told CNBC on Thursday. Blue Apron became the first U.S. small meal-kit business to go public when it debuted Thursday on the New York Stock Exchange under the ticker symbol “APRN.” The company priced its initial public offering […]
Read moreCheck out which companies are making headlines before the bell: Walgreens Boots Alliance — Walgreens and Rite Aid have canceled their planned merger. Instead, Walgreens will buy nearly 2,200 Rite Aid stores for $5.18 billion. The deal also cancels a planned sale of some Rite Aid stores to Fred’s. Separately, the two companies both reported […]
Read moreClosely followed trader Art Cashin said Thursday that he is still skeptical about the Federal Reserve raising interest rates again this year. Cashin, in an interview with CNBC, said U.S. economic data doesn’t show him the strength he needs to see and doesn’t help the Fed’s case for additional hikes. Still, the central bank reiterated […]
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