Visitors wearing masks walk past Shanghai Disney Resort, that will be closed following the outbreak of a new coronavirus, in China. Disney said it is expecting to take a $175 million hit from the recent coronavirus outbreak if its Hong Kong and Shanghai Disney parks remain closed for two months. McCarthy said the company expects an impact of $135 million on second-quarter operating income from the Shanghai park and about $40 million from the closure of the Hong Kong park. The company had already

Ford reported earnings of 12 cents per share excluding some items on revenue of $36.7 billion, while analysts expected earnings of 15 cents per share on revenue of $36.49 billion, according to Refinitiv. Chipotle Mexican Grill – The restaurant company’s stock rose more than 1% in extended trading after the company reported strong fourth-quarter results that beat the top and bottom line. Analysts expected $2.75 per share on revenue of $1.40 billion in the fourth quarter, according to Refinitiv. S

United Airlines on Tuesday said it will suspend Hong Kong service, days after it cut its mainland China flights as coronavirus spreads. The suspension begins Feb. 8 and will last until Feb. 20 but more changes are possible. The suspension of Hong Kong follows a similar step American Airlines announced earlier Tuesday. Dozens of international airlines are cutting or suspending their China service because of the virus. American Airlines on Tuesday suspended its Hong Kong service, halting flights t

Tesla surged after bullish comments from investor Ron Baron helped send the stock to parabolic heights, similar to the type of trading in late-1990s tech stocks. Baron said Tesla could have $1 trillion in revenues in the next decade. “Tesla’s bubble looks a lot bigger than biotech, homebuilders, or the aggregate Tech sector’s bubble,” wrote Bespoke analysts. Bespoke said those types of moves often run longer than expected, but past parabolic surges have run out of steam, ending in dramatic sell-

Musk owns about 19% of Tesla’s stock, or 34.1 million shares. With the stock surging in two consecutive days of trading, Musk’s net worth grew $4.41 billion on Monday and $3.65 billion on Tuesday – $8.1 billion in total. Short sellers capitulating are part of the fuel for Tesla’s rally. But, with Tesla’s stock up more than 36% in the past two days, short sellers are getting crushed. Shorts racked up mark-to-market losses of $3.1 billion on Monday and $2.58 billion on Tuesday, according to data f

Senators took turns explaining their stances on whether President Donald Trump’s impeachment was warranted on Tuesday, the day before they vote on a likely acquittal that would bring the trial to a culmination. Republican senators sought to convince their colleagues to acquit the president, echoing the same arguments that Trump’s legal team made when laying out their case on the floor. Democrats primarily stressed the evidence uncovered by House committees and implored their Republican colleague

Amazon CEO Jeff Bezos sold more than $1.8 billion of shares in his company over the past week, according to financial filings. In total, Bezos sold 905,456 shares in the company for $1.84 billion, according to the filings. The sale disclosure comes as Amazon’s closing price vaulted the company’s market capitalization over $1 trillion, a mark that it first touched in intraday trading in 2018. The company re-joins fellow tech giants Apple, Microsoft and Google parent company Alphabet, all of which

Pete Buttigieg and Sen. Bernie Sanders lead the pack in the 2020 Iowa Democratic caucuses, according to partial results released by the Iowa Democratic Party a day after the first-in-the-nation nominating contest. Iowa Democratic Party spokeswoman Mandy McClure said earlier that the organization would announce figures from a “majority” of precincts, then “continue to release the results as we are able to.” Buttigieg declared victory early Tuesday morning — the only candidate to do so before the

In the earnings release, Disney CEO Bob Iger said the service has “exceeded even our greatest expectations.” Disney+ now has 26.5 million subscribers, which is up from the 10 million sign-ups it registered for the service after it launched November 12. CEO Bob Iger said on the company’s earnings call that by Monday, that number had climbed to 28.6 million subscribers. The company previously forecast between 60 million and 90 million subscribers by the end of its 2024 fiscal year. On the call, Ig

In 2020, millennials will be buying the bulk of real estate in the U.S., according to Realtor.com’s “2020 Housing Market Predictions.” In their forecast, Realtor.com predicts that millennials’ share of mortgage originations will surpass an unprecedented 50% in the spring, outnumbering the share of total homes purchased by members of Generation X and baby boomers, at a respective 32% and 17%. Millennials currently comprise the largest generation in the U.S., according to Pew Research. This genera

A single truffle can cost up to $3,800 — are they worth the money? There is something intoxicating about the smell of truffles. In 2019, someone paid over $130,000 for just over two pounds of white truffles. Because they grow below ground, they have to find a way “to entice us,” says truffle scientist Paul Thomas. Consuming truffles, especially white truffles, he says, gives similar intoxicating effects as cannabis, though to a lesser degree.

Former Federal Reserve chair Janet Yellen said during a Feb. 4 talk at George Washington University that while she sees the coronavirus posing a risk to the global economy, similar past epidemics only had modest long-term effects. The coronavirus is definitely “a potential influence on the global economy,” Yellen said, adding that it seems certain to have a significant effect at least a quarter or two on Chinese growth. And because China is such a significant player in the global economy, there’

More than 90% of people in Western cultures marry by 50, but around 40% to 50% of U.S. marriages end in divorce. LendingTree, an online lending marketplace, narrowed down the best places for those recovering from divorce. Each ranked high in all three categories with a final score of at least 69 points. But less tangible factors may also be at play: The city is known for its friendliness, which has been dubbed “Minnesota nice.” However, “the real kicker for New York City is the high cost of livi

But for the first time since 2016, Amazon’s critics won’t be able to point to the tech giant’s nonexistent federal tax bill. The federal corporate tax rate is 21%, but as in the past, Amazon likely employed various tax credits and deductions to reduce its federal tax bill. In 2018, Amazon posted income of more than $11 billion, but the company paid $0 in federal taxes. However, that total includes the $162 million federal tax bill, as well as another $914 million federal tax bill that the compan

DEARBORN, Mich. – Ford Motor lost $1.67 billion during the fourth quarter and missed Wall Street earnings expectations on increased pension contributions and higher North American warranty and labor costs. The automaker disappointed Wall Street with its earnings projections for 2020. It’s projecting full-year earnings of between 94 cents and $1.20 a share, or adjusted earnings before interest and taxes of $5.6 billion and $6.6 billion. The company made $6.4 billion in 2019, slightly below a revi

Timothy A. Clary | AFP | Getty ImagesInfectious disease specialists and scientists say the new coronavirus that’s shuttering companies across mainland China may be more contagious than current data shows. The current R naught of the new virus is lower than the 2003 SARS outbreak, which had an R naught of between 2 and 5. World health officials caution that it may take months before the true R naught is known as more coronavirus cases come to light. Measles, one of the most contagious viruses in

The department store chain announced Tuesday it plans to shut 125 stores over the next three years and slash about 2,000 corporate jobs, as it closes its Cincinnati headquarters and tech offices in San Francisco. Macy’s said it plans to exit weaker shopping malls, and instead shift its focus toward opening smaller-format stores in strip centers. Still, looking ahead three years from now, even with these changes, growth at Macy’s looks abysmal. Over the past five years, Macy’s stock has lost well

Thomas BarwickHealth savings accounts can be a great tool for retirement medical costs — if you don’t make any mistakes using them. To offset some of that, savers can stash up to $3,550 in a health savings account this year if they have single coverage or $7,100 for family plans. You held off on Social Security and MedicareHero Images | Hero Images | Getty ImagesOlder workers may decide to boost their savings by waiting to claim Social Security and go on Medicare. Head off trouble when you sign

“We’re just going to keep seeing more of it,” Kerry Hannon, the author of several books on jobs and entrepreneurship, said of gig work. What constitutes the “gig economy” isn’t well-defined but typically includes people such as independent contractors and on-call and temp workers. New research indicates that businesses are turning to gig workers with greater regularity. In total, there are 6 million more gig workers today than a decade ago. Gig workers may be able to get health coverage through

Johns Hopkins senior scholar Dr. Amesh Adalja told CNBC on Tuesday that the new coronavirus will likely cause yearly outbreaks, with most of the cases being mild. China’s National Health Commission on Tuesday raised its confirmed coronavirus cases in the country to 20,900. The World Health Organization said there’s been more than 150 coronavirus cases in about two dozen countries outside of China. Adalja compared the coronavirus to the 2009 H1N1 swine flu outbreak, which is now seen as a regular