Halfway through earnings season for the fourth quarter of 2019, and it’s been a tale of haves and have-nots. The haves include megacap tech names like Netflix, Intel, Microsoft, Apple and Amazon that reported good earnings. As a result, blended earnings estimates for the S&P 500 have turned positive for the fourth quarter, now up a modest 1.1%, according to Refinitiv. Those megacap tech stocks have seen their first quarter 2020 estimates raised by analysts, and they have helped pull first quarte

The entrance to a Macy’s department store. Officers of the embattled department store chain will meet with investors Wednesday at the New York Stock Exchange. Macy’s shares have fallen more than 35% over the past 12 months and are trading around $16.40. Now, in the new year, Macy’s has to prove it can get back to same-store sales growth. Last month, Macy’s said it would be closing 28 Macy’s stores and one Bloomingdale’s location in 2020, wrapping up a plan it announced in 2017 to shut 100 stores

Larry Kudlow, director of the U.S. National Economic Council, speaks during a television interview at the White House in Washington, D.C., U.S. on Thursday, Jan. 30, 2020. President Donald Trump’s economic advisor Larry Kudlow said Tuesday that the deadly Chinese coronavirus outbreak will delay a surge in exports that is expected to flow from the first “phase” of the U.S.-China trade deal signed last month. “It is true the trade deal, the phase one trade deal, the export boom from that trade dea

“Yes, we’re … near all-time highs in the S&P 500, but you still see people looking for yield,” said Jeff Kilburg, founder and CEO of KKM Financial. “You have seen a long-term attraction in this search for yield, this global search for yield.” “So, right here, at 1.53, you’ve seen a lot of buyers in the TLT,” which moves inversely to the 10-year yield. “So, I think this search for yield, this global search for yield, persists.” “For sure, this bid for yield [and] safety has pushed up all the de

Tesla’s market value deserves to be twice the combined value of General Motors and Ford, CNBC’s Jim Cramer said before Tuesday’s Wall Street open. The combined market cap of GM and Ford after Tuesday’s open was about $85 billion. Cramer said Tesla is a technology company, “and you got to value it like a technology company now.” Tesla trades at a multiple of over 80 times, while GM and Ford trade at multiples in the high single-digits. Since Dec. 11, the day Cramer said he had officially turned b

Amazon CEO Jeff Bezos accused his girlfriend’s brother of seeking to extort him by suing for defamation, according to a court filing. In the lawsuit, Sanchez accused Bezos and de Becker of spreading inaccurate rumors to journalists that he had leaked nude photos of the executive to the National Enquirer. De Becker said his investigation found Michael Sanchez to be the paid source to the Enquirer. An AMI spokesperson previously told CNBC that Michael Sanchez was the single source for the story. I

Google on Tuesday confirmed that some people recently received private videos from strangers that were uploaded to Google Photos. Here’s what happened: Lots of people use Google Photos to store videos and photos stored on their phones. Google offers an option for people to download a copy of their private data, called Google Takeout. “We are notifying people about a bug that may have affected users who used Google Takeout to export their Google Photos content between November 21 and November 25,

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