Bitcoin has defied gravity this year, and it’s taken one retail stock along with it. Shares of Overstock.com are on pace for their best year since 2004, largely due to the growing interest in cryptocurrencies, but some market participants are wary of the stock continuing its run. In January 2014, Overstock became the first U.S.
Carlos Garcia Rawlins | Reuters Venezuela’s President Nicolas Maduro talks to the media during a news conference at Miraflores Palace in Caracas, Venezuela October 17, 2017. Venezuela‘s Electricidad de Caracas — a state-owned electric company — has defaulted on a $650 million bond payment, Wilmington Trust said Friday. The bonds mature in 2018 and yield
President Donald Trump has done a “fantastic job” of garnering trust on Wall Street through his business-friendly policies, billionaire Vincent Viola told CNBC on Friday. “Markets are driven by their perception of stability,” said Viola, founder of Virtu Financial, a high-speed trading giant, and Trump’s onetime nominee for secretary of the Army. “The perception of
The analyst found a misalignment in the Model 3’s glass roof, body panel gaps, rubber trim issues around windows and misaligned seams in the interior ceiling of the car, according to his note. “Our inspection revealed widespread shortcomings in fit and finish … Tesla representatives acknowledged some of the fit issues, but stated that they
Shares of Overstock.com could soar more than 60 percent, according to the primary Wall Street analyst covering the e-commerce company. D.A. Davidson analyst Tom Forte is the only analyst listed on FactSet covering the stock, which has topped $1 billion in market value only in the last few weeks. Forte said in a Thursday note
Gold futures dropped suddenly earlier on Friday to trade almost 1 percent lower. Trading volume also picked up during the selling activity. Gold futures for December delivery were down 0.9 percent at $1,275.60 per ounce as of 2:22 p.m. in New York after stabilizing following the sudden decline. It was not immediately clear what caused
Best Buy is also set to report earnings next week, and if options activity is any indication, the company could miss estimates, according to Pete and Jon Najarian. Last month bears bought more than 11,000 puts at the 52.50 strike price. The stock closed Thursday at $55.93. Best Buy is up more than 30 percent
Disney shares are rising Friday as analysts are bullish on its upcoming internet video streaming services, despite the company’s earnings miss. The media giant reported weaker-than-expected fiscal fourth-quarter earnings Thursday. It generated earnings per share of $1.07 versus the $1.12 Thomson Reuters consensus estimate. But analysts got excited after the company said it would price
Not that long ago, General Electric was seen as the very model of corporate success, the American capitalist system in action under a sprawling umbrella of synergized interests. No more. As the company limps into its investor day presentation Monday, it has gone from a paradigm of success to a morass of excess. Where GE
Time‘s tight leash on costs helped it beat analysts’ expectations on profit and stick to its yearly forecast for operating income on Thursday despite further sharp falls in sales of magazines and hard copy advertising. Shares in the owner of Time, Sports Illustrated and People magazines have almost halved in value since March as it
Yet if a same-sex couple had lived together for 18 years before being allowed to legally marry in 2015 and decides to divorce today, whether that union began two years or two decades ago is not legally clear. “In some states, the courts will agree to tack on prior years of cohabitating … so it’s
Media giants Disney and 21st Century Fox haven’t given up on the idea of combining movie and television production operations, CNBC’s David Faber said Friday. “Pencils aren’t down,” he said, citing sources. Shares of 21 Century Fox rose 4 percent in early trading Friday. Earlier this week, Faber broke the news that Disney had approached
Pop-up shops are still popular among retailers, especially around the holidays. There is a “burst” of pop-ups expected to round out the year, an annual holiday survey from commercial real estate firm CBRE found. The holiday season offers companies a sliver of time to test new features, experiment where there is heavier foot traffic, or
J.C. Penney on Friday reported a bigger-than-expected increase in quarterly same-store sales, as the department store chain’s latest efforts to get rid of excess inventory and refresh its apparel business showed signs of progress. The news came just weeks after Penney slashed its full-year profit and sales outlook, citing a hit due to heavy discounting.
Republicans promised a middle-class tax cut. So far, they have created mostly middle-class confusion. Both the evolving House bill and the emerging Senate plan would slash taxes for businesses and many wealthy individuals. What they would mean for the middle class, however, is less clear. The plans feature a spider web of intersecting and offsetting
China will lift the ceiling on foreign equity ownership in joint-venture firms involved in the futures, securities and funds markets to 51 percent, a vice finance minister said on Friday. No specific timetable was given for lifting the equity ownership limit to 51 percent from the current 49 percent. China will remove all equity ownership
CNBC’s Jim Cramer knows that the cybersecurity industry isn’t going anywhere but up anytime soon. “Cybersecurity is, unfortunately, a secular growth business, meaning that long term, hackers and digital terrorists [are] going to keep trying to steal our data and mess up our systems,” the “Mad Money” host said. “That’s why I think it’s worth
The government must collaborate with businesses if it wants to solve some of society’s most pressing problems, Johnson & Johnson Chairman and CEO Alex Gorsky told CNBC on Thursday. “It takes all of us working together,” Gorsky told “Mad Money” host Jim Cramer in a special Veterans Day show at the U.S. Military Academy at
One of the most successful hedge funds over the last two decades is betting on global growth through stakes in a mall operator, an energy company and a payments processor. In the third quarter, Dan Loeb‘s Third Point hedge fund made new investments in Macerich, a real estate investment trust for mall properties, oil refiner
Nvidia reported earnings Thursday that beat Wall Street expectations. Here’s how the company did: EPS: $1.33 vs. 94 cents expected according to Thomson Reuters Revenue: $2.64 billion vs. $2.36 billion expected according to Thomson Reuters Shares initially fell as much as 2 percent in after-hours trading Thursday but later ticked up more than a percent.