Astra tests a rocket at its headquarters on the San Francisco Bay in Alameda, California. Astra Rocket builder Astra, a San Francisco-area startup, recently reduced its staff through a mix of furloughs and layoffs in order to survive delays caused by the coronavirus pandemic, a person familiar with the situation told CNBC. Astra cut its overall
Despite record jobless claims north of 6.6 million, the stock market held up on Thursday. Let’s look at a few top stock trades, which had more volatility than the market would have made you think. Top Stock Trades for Friday No. 1: Facebook (FB) Like many other stocks, as well as the overall market, Facebook
Towards the end of January 2020, Muddy Waters Research posted a tweet regarding an unattributed 89-page report on Luckin Coffee (NASDAQ:LK). At the time, LK stock was trading at $32.49. Source: Keitma / Shutterstock.com The report alleged that Luckin Coffee was a “fundamentally broken business.” The report also stated that “the Company had evolved into
To get a sense of just how volatile this market is, consider that Penn National Gaming (NASDAQ:PENN) stock has doubled from its lows. Yet, Penn National stock still is down 74% from its 52-week high. Source: Casimiro PT / Shutterstock.com The decline in PENN stock makes some sense. Casinos nationwide have been shut down amid
President Donald Trump says Saudi Arabia and Russia could soon agree to a big cut in oil production, but energy analysts say a lot of levers would have to be pulled to make that happen. Such a deal might possibly even include an unprecedented deal involving the U.S. oil industry. Trump meets with U.S. oil
One of the advantages of being in the investment business for as long as I have is that, in times of incredible market distress, I get to invoke that wry and somewhat misleading saying, “Well, this isn’t my first rodeo.” Another advantage is that my past was full of so many research assignments that I
It was a very interesting session in the stock market today. That’s as the SPDR S&P 500 ETF (NYSEARCA:SPY) spent most of the day in positive territory and ended higher by 2.4%. That’s despite a record-setting initial jobless claims report. The U.S. reported 6.65 million jobless claims, roughly double what economists were expecting. That’s also
Nio (NYSE:NIO) should be avoided. It’s heading to $0 this year. The last time I weighed in on NIO stock, it traded at $4.03 on March 4, and the company is still struggling to keep its head above water. Source: Sundry Photography / Shutterstock.com The promise of a $4 billion cash infusion was over-exaggerated. Its cash
After a recent bounce, Alibaba (NYSE:BABA) is down almost 20% from its 52-week highs. That’s notably better than the S&P 500, which is down about 27% from its highs. Given all the circumstances at the momentum, it’s hard to determine if Alibaba stock is outperforming or underperforming expectations. Source: Kevin Chen Photography / Shutterstock.com While
A Dave & Buster’s location in Irvine, California. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Tesla — The automaker’s stock shot up 16% in extended trading after Tesla reported that it had delivered around 88,400 cars in the first quarter of 2020. The reported numbers included 76,200 combined deliveries of
The stock market held up surprisingly well on Friday, if you can say that with the S&P 500 down almost 27% from its all-time highs earlier this year. We saw selling pressure eventually pick up in the stock market today, following a disappointing jobs report for March. The fact that the market only slipped lower,
Mohamed El-Erian said Wednesday he would be hesitant to put cash to work, arguing the stock market is still on a downward trend due to the coronavirus pandemic. But he offered a roadmap for investors who feel inclined to add to their portfolios. “Whatever cash you have, divide it over five installments,” El-Erian said on CNBC’s “Squawk Box,” suggesting dollar
Before you think I know more about stocks than you do, consider this. Source: Shutterstock I’m the guy who recommended you buy Bed, Bath and Beyond (NYSE:BBBY) in January. Not only that, I’m the idiot who took his own advice and did it, after giving you four days to digest my stupidity. I just checked.
The coronavirus continues to sweep across the world. It’s hitting Europe and the U.S. hard after the outbreak began in China. Despite the hellish reality of Covid-19, we’re seeing individual companies step up, like Gilead Sciences (NASDAQ:GILD). As a result, GILD stock is up 16.3% year-to-date and 9% over the past month. Some investors may
A view of an empty restaurant is seen at Grand Central Station on March 25, 2020 in New York City. Angela Weiss | AFP | Getty Images Barry O’Donovan opened his Irish pub across from a railroad station used by Wall Street commuters just five days before Lehman failed. His business survived the Great Recession.
JPMorgan CEO Jamie Dimon told employees in a memo Thursday he is “happy to be back at work” following emergency heart surgery last month. “I have been recuperating well and getting stronger every day, and I am happy to be back to work this week — albeit working remotely like so many of you,” Dimon
A record jobless claims report on Thursday was followed up with a dismal jobs report on Friday. That said, let’s look at a few top stock trades for next week. Top Stock Trades for Monday No. 1: Advanced Micro Devices (AMD) Advanced Micro Devices (NASDAQ:AMD) was trading great on the long side when the market
Personally, I view Blue Apron (NYSE:APRN) as an example of getting the logic right and the results wrong. In August of 2019, I worried that a recession might hurt shares of the meal-delivery service. I came to that conclusion because at the time, the U.S.-China trade war suggested a slowdown for both economies. Further, the
Microsoft (NASDAQ:MSFT) stock closed March at less than $1 from where it opened January. Source: gguy / Shutterstock.com Although a down market — spurred on by Friday’s jobs report — has Microsoft stock down about 1.5% on April 3, it remains about the only thing working. Even the dividend, 51 cents per share, looks payable.
A restaurant in Washington Heights prepares for new restrictive measures to only offer take-out or delivery in an effort to combat coronavirus. Dan Mangan | CNBC Stocks and bonds had a relatively muted response to the March employment report, which was far worse than forecast but barely reflected the unprecedented collapse of the labor market