A man walks past an AMC theatre amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. Carlo Allegri | Reuters Stocks on Robinhood’s restricted trading list jumped during premarket trading on Friday, after the online brokerage said Thursday evening that it would resume limited
Month: January 2021
PNC Financial’s Amanda Agati sees three reasons for the market’s speculative craze: No commission trading, low interest rates and another round of stimulus checks. Together, the firm’s chief investment strategist calls them a “perfect storm.” “The rise in no commission trading, a la Robinhood and a number of retail trading apps, has no doubt added
Home ownership has long been considered a staple of the American dream. During the pandemic, it has also become a dividing line between the haves and have-nots. As the coronavirus outbreak and rise of remote work pushed Americans to move from the city to the suburbs, those who could afford a single-family home have been
A vehicle passes an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020. Andrew Harrer | Bloomberg | Getty Images The CEOs of Chevron and ExxonMobil last year discussed the possibility of merging the two companies, The Wall Street Journal reported Sunday, citing unnamed people familiar with the talks. The
Senator Mitt Romney, a Republican from Utah, listens during a Senate Foreign Relations Committee hearing regarding Iran-U.S. relations on Capitol Hill in Washington, D.C., U.S., on Wednesday, Oct. 16, 2019. Al Drago | Bloomberg | Getty Images WASHINGTON – A group of 10 Republican senators called on President Joe Biden to consider a smaller, alternative
Gabriela Bhaskar | Bloomberg | Getty Images If you’ve been holding shares of GameStop, AMC Entertainment or other so-called “meme” stocks that have shot up to the stratosphere recently, it may be time to take the gains and move on. While it’s uncertain where those stocks will go from here in the short-term, experts say
Johnson & Johnson products on a shelf in a store in New York. Lucas Jackson | Reuters It was a busy week for Wall Street. Heavyweights like Apple, Microsoft, Facebook, Boeing and Tesla, among others, stepped up to report their earnings for the most recent quarter. However, some analysts and strategists were more focused on
Daniel Acker | Bloomberg | Getty Images These stocks are making some of the largest moves in midday trading: Mondelez International — Mondelez, which owns snack brands including Oreo and Ritz, dipped 2% despite reporting better-than-expected earnings. Modelez earned 67 cents per share, topping estimates by one cent, according to Refinitiv. Revenue came in at
A GameStop store in Hollywood, California, busy with customers waiting in line to enter the video game retailer on January 27, 2021. AaronP | Bauer-Griffin | GC Images | Getty Images Ben Kusin, a longtime Redditor, has enjoyed a front-row seat for the recent GameStop saga. But he admits the story hits a little too
Aug. 11 (Bloomberg) –- Ever wonder who choreographs and designs the fight scenes and stunts for action movies? One Los Angeles-based company, 87Eleven Action Design, does just that. They are the stunt team behind more than 100 productions, including “The Hunger Games,” “Wolverine,” and “Teenage Mutant Ninja Turtles.” Bloomberg heads to 87Eleven’s training gym to
Stimulus checks printed at the Philadelphia Financial Center in Philadelphia. Jeff Fusco | Getty Images Many Americans are waiting for their second stimulus check and others want to know when they could possibly get a third payment. The $1.9 trillion Covid relief plan pushed by President Joe Biden includes a third round of $1,400 stimulus
Andrew Left, founder and CEO of Citron Research Adam Jeffery | CNBC Citron Research, which was forced to close out its short position in GameStop amid a frenzy in retail buying, said Friday it will no longer publish short reports and instead will focus on long positions. “After 20 years of publishing Citron will no
GameStop mania took Wall Street by storm, thanks to a legion of retail traders glued to the WallStreetBets message board on Reddit. Shares of the struggling brick-and-mortar video game retailer skyrocketed 400% in the past week, closing out January with a whopping 1,625% gain. A band of amateur traders in WallStreetBets forum, whose members have
Maryland Governor Larry Hogan holds a press conference to address COVID-19 concerns in Annapolis, MD on November 17. Bill O’Leary | The Washington Post | Getty Images Maryland has reported a case of the new, highly transmissible Covid-19 variant first found in South Africa, marking the third case to be detected in the U.S., Gov.
Senator Rob Portman, a Republican from Ohio, speaks to members of the media while walking through the Senate Subway at the U.S. Capitol in Washington, on Tuesday, Jan. 26, 2021. Sarah Silbiger | Bloomberg | Getty Images A group of power brokers in Ohio have been reaching out to business leaders across the state to
The headquarters of the Consumer Financial Protection Bureau in Washington, D.C. JHVEPhoto | iStock Editorial | Getty Images The Consumer Financial Protection Bureau is expected to become a more aggressive consumer watchdog under the Biden administration and while the coronavirus pandemic hurls financial challenges at millions of Americans. Consumer advocates say the bureau was almost
An employee works inside an Office Depot Inc. Susana Gonzalez | Bloomberg | Getty Images Company: ODP Corp. (ODP) ODP Corp. is a provider of business services, products and digital workplace technology solutions to small and medium businesses. The company has a fully integrated business-to-business distribution platform of approximately 1,300 stores and online presence. The
Steven A. Cohen Scott Eells | Bloomberg | Getty Images Steve Cohen, the founder of hedge fund Point72 and owner of the New York Mets, has deactivated his Twitter account after his family received threats this week amid the GameStop trading frenzy. “I’ve really enjoyed the back and forth with Mets fans on Twitter which
The Robinhood application on a smartphone. Bloomberg | Bloomberg | Getty Images Online broker Robinhood said that it put temporary buying restrictions on a small number of securities because central Wall Street clearinghouse-mandated deposit requirements for equities increased tenfold. The decision by Robinhood, a free-trading pioneer and app that’s popular among small investors, drew scrutiny
Members of the far-right group Proud Boys make ‘OK’ hand gestures indicating “white power” as supporters of U.S. President Donald Trump gather in front of the U.S. Capitol Building to protest against the certification of the 2020 U.S. presidential election results by the U.S. Congress, in Washington, U.S., January 6, 2021. Jim Urquhart | Reuters
Serhii Shleihel | iStock | Getty Images Here’s what you probably shouldn’t do with that extra money now that you don’t have to pay your student loan bill until October: Sink it all into shares of GameStop. But there are financially sound actions you can take with the additional cash, and you’ll likely thank yourself
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer on Friday complimented the retail traders who helped spark the massive run up in GameStop shares, but advised they take their profits now. “Take the home run. Don’t go for the grand slam. Take the home run. You’ve already won. You’ve won the game. You’re done,”
The website of U.K. stock trading app Freetrade. Freetrade LONDON — British share trading app Freetrade told clients Friday that it had disabled purchases of U.S. stocks. Freetrade blamed the halt to U.S. stock purchases on a move by its currency exchange provider and their bank to limit the platform’s trading volume. Freetrade uses U.K.
A woman walks past a closed retail store for lease in the midtown area of Manhattan on January 25, 2021 in New York City. Angela Weiss | AFP | Getty Images The number of Americans who filed for unemployment benefits for the first time rose less than expected last week as the Biden administration took
US electric car maker Tesla Vice President Jerome Guillen poses at the Paris Auto Show on the last press day on October 3, 2014. The Paris Auto show opens to the public on Saturday. Eric Piermont | AFP | Getty Images Elon Musk’s electric car company notified customers on Friday that Tesla Service Centers now
Rep. Marjorie Taylor Greene (R-GA) (L), Rep. Cori Bush (D-MO). Reuters (L) | Getty Images (R) GOP Rep. Marjorie Taylor Greene and her staff allegedly “berated” House Democrat Cori Bush of Missouri, who said Friday she’s moving her office away from Greene’s “for my team’s safety.” Bush also said in a tweet that the Georgia
Not wanting to touch anything is having a dramatic impact on consumer habits. Amid the coronavirus crisis, Americans are abandoning cash almost entirely in favor of “tap and go” transactions and have finally embraced contactless and digital payment methods after years of reluctance. Fewer and fewer adults use printed or minted U.S. currency at all any more.
Kevin O’Leary on Friday defended the right of retail investors to continue trading shares of GameStop, AMC Entertainment and other stocks that have been hyped online. In an interview on CNBC’s “Squawk Box,” the O’Shares ETFs co-founder said investors should be allowed to speculate freely — regardless of whether they end up losing their own
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this year, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of
After a year in which a pandemic and politics posed challenges unlike the U.S. has seen in generations, the economy closed in fairly good shape. Gross domestic product, or the sum of all goods and services, increased at a 4.0% pace in the fourth quarter, slightly below the 4.3% expectation from economists surveyed by Dow
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