The biggest mall owner in the U.S., Simon Property Group, said it has its work cut out for it, as it makes a bid to salvage bankrupted apparel retailer Forever 21. “With Forever 21, we do think there is a business there,” Simon CEO David Simon said Tuesday morning during a call with analysts. But if we are successful … we will make money at Forever 21.” “We would not be attempting to do Forever 21 for the sole purpose of maintaining our rent.” In the case of Forever 21, CEO Simon said it was r

Wall Street analysts were expected $1.31 in earnings per share and $1.43 billion in revenue, according to Refinitiv. — Pound9:57 am: Tesla’s market cap now tops Netflix’sTesla soared another 20% to break above $900 a share early Monday, pushing its market cap to around $160 billion. MGM Resorts was also down in premarket trading but is now up about 2%. —Li9:02 am: Coronavirus stocks bouncing backSome major travel and transportation stocks were rising in premarket trading after slipping in recent

Aside from the debate about Tesla’s business itself and how big it can really become in the future, there are some investor-behavior and mechanical-market factors to consider in trying to figure out its vertical rise. Yes, there’s an entrenched short base that’s getting torched, but this doesn’t explain the velocity or magnitude of this move. For most of its history, the short interest as a percentage of Tesla’s float has been higher than it is now. This adds fuel, but it is not the main thing.

Senators are set Tuesday to give speeches revealing their positions in the impeachment trial of President Donald Trump, hours before he will deliver his State of the Union address to Congress. House impeachment managers and Trump’s defense team wrapped up closing arguments in his impeachment trial Monday. After Tuesday’s speeches in the Senate, senators are scheduled to vote Wednesday on the question of whether Trump should be removed from office. Mitt Romney of Utah and Susan Collins of Maine j

Participants gather for their preferred democratic presidential candidate during the first-in-the-nation Iowa caucus at the Drake University Knapp Center arena in Des Moines, Iowa, U.S., on Monday, Feb. 3, 2020. The Iowa Democratic Party said Tuesday that it plans to release the results of its presidential caucus “as soon as possible today” after a major — and embarassing — technology glitch prevented a winner in the contest being announced as scheduled Monday night. “We have every indication th

Boarding will be denied to anyone who has traveled through mainland China or Hong Kong in the past 15 days. Mandatory health screenings will also be performed on guests who have a China or Hong Kong passport. “It is true the trade deal, the phase one trade deal, the export boom from that trade deal, will take longer because of the Chinese virus. The union that represents some 15,000 American Airlines pilots sued the carrier last week to end China flights, including service to Hong Kong. American

Tuesday’s jump hit as much as 20% – a day after Tesla climbed 19.9%, which had been its biggest one-day gain in six years. Tesla’s stock roared after Argus Research raised its price target to a new Wall Street high of $808 a share. But even Argus’ price target is below where the stock opened on Tuesday. The average 12-month price target of analysts is $493, up from $334 in December, according to FactSet. That new target is more than 40% below where the stock is trading in premarket trading Tuesd

The Google logo is seen January 8, 2020 at the 2020 Consumer Electronics Show (CES) in Las Vegas, Nevada. Ireland’s top privacy regulator has launched a probe into Google’s processing of location data that it collects from users. The Irish Data Protection Commission (DPC) said it had received “a number of complaints” from various consumer organizations across the European Union. It said that those groups raised concerns relating to the “legality of Google’s processing of location data and the tr

This 32-year-old quit banking and built a multimillion-dollar businessChang Wen Lai’s express delivery service, Ninja Van, is tipped to be one of Southeast Asia’s next $1 billion unicorns. CNBC Make It’s Karen Gilchrist met the 32-year-old CEO in Singapore to hear about his bold bet to go from trading floor to entrepreneur.

Wall Street set to open sharply higherU.S. stock index futures look set to continue the recovery rally following Friday’s steep sell-off sparked by concerns over China’s fast-spreading coronavirus. CNBC’s Rahel Solomon reports.

JD.com reports surge in orders during coronavirus scareCNBC’s Eunice Yoon reports on the types of disruptions businesses are experiencing as a result of the coronavirus outbreak in China.

“We did three cuts and right now they are working their way through the economy,” Bostic said of the Fed’s interest-rate reductions last year. “But given our past recent experience with these sorts of things, I don’t think it should; it hasn’t changed my outlook or my expectation about our rates path.” Futures tied to the Fed’s policy rate, which in early January showed most bets were on a rate cut by November, now suggest two rate cuts are likely by year’s end. Bostic noted that while inflation

Democratic presidential candidate Sen. Bernie Sanders (I-VT) addresses supporters during his caucus night watch party on February 03, 2020 in Des Moines, Iowa. Iowa is the first contest in the 2020 presidential nominating process with the candidates then moving on to New Hampshire. Even the possibility of Sen. Bernie Sanders winning the Democratic nomination for the 2020 elections is an important risk for markets this year, a chief investment officer told CNBC this week. “We think a Bernie Sande

AzimoAzimo, the U.K. money transfer start-up taking on the likes of Western Union and MoneyGram, has raised 20 million euros ($23 million) in debt financing from the European Union. EU commissioner Valdis Dombrovskis said the bloc “will continue to support successful companies such as Azimo to boost the European fintech sector and improve the experience of millions of customers.” The irony isn’t lost on Kent, who says he anticipates talks on future relations between the two trading partners to b

A Chinese citizen undergoing testing for coronavirus while passing through a temporary corridor opened at a border checkpoint between Blagoveshchensk and Heihe. Temporary corridors are opened to return Russian and Chinese citizens to their countries as the Russian government orders to close the border with China as a measure to prevent the coronavirus spread. All the people passing through the temporary corridor are tested for the virus. The WHO, which has declared the illness a global health em

The U.K. government wants to end the sale of new diesel and petrol (gasoline) cars by the year 2035. The plans, which were announced Tuesday and are subject to consultation, also include hybrid vehicles. U.K. authorities had previously said the sale of new petrol and diesel vans and cars would end in 2040. In practice, ending the sale of petrol, diesel or hybrid cars or vans would leave consumers with a choice between electric and hydrogen vehicles. The U.K. is one of many countries looking to e

People visit the Huawei stand during PT Expo China (PTEXPO) at China National Convention Center on November 2, 2019 in Beijing, China. In November, China turned on its 5G networks ahead of schedule . The coronavirus outbreak could slow down China’s deployment of 5G networks, analysts warned, potentially denting the progress of one of President Xi Jinping’s national priorities. Washington has sought to get China’s Huawei, the world’s largest telecoms equipment maker, banned from as many markets a

Dow futures are currently projecting a 300+ point gain at the open. The Dow needs about 460 more points to erase that Friday slide. The tech giant did break out numbers for its YouTube and cloud businesses for the first time, though the disclosure was limited in scope. However, the company did warn that its global supply chain could be impacted by the spread of the coronavirus. Activist investor Starboard Value revealed an approximately 9% stake in prepaid debit card issuer Green Dot (GDOT), acc

A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. China’s economy could grow by less than 2% year-over-year, according to Pantheon Macroeconomics Chief Asia Economist Freya Beamish. China said at the end of Monday that cases of the new coronavirus on the mainland have now surpassed 20,400 with a total of 425 deaths. The rapid spread of the virus has sp

The Iowa presidential caucuses were thrown into chaos late Monday after the state Democratic Party said it found “inconsistencies,” delaying results and causing widespread confusion across the state. The Iowa Democratic Party said early Tuesday that it would release the results of the Iowa caucuses later Tuesday after “manually verifying all precinct results.” That system is taking longer than expected, but it’s in place to ensure we are eventually able to report results with full confidence.” T