Forever 21 has reached an $81 million deal to sell its retail business to a group that includes Simon Property Group, Brookfield Property Partners and Authentic Brands. Forever 21 said in a bankruptcy court filing it is seeking approval to name the three as the lead, stalking-horse bidders in an auction. Forever 21 is planning to seek approval of the sale by Feb. 11. Authentic Brands in late 2019 bought the rights in bankruptcy court to the Barneys New York brand name. Read the Forever 21 court

Wedbush added the stock to its best ideas list and said it sees a “profitable” business model for the ride-sharing company in 2021. “Since its IPO shares of Uber have been a nightmare for investors as the stock has traded well below its $45 IPO with the Street putting the name squarely in the investor penalty box out of the gates. To this point, our analysis of Uber’s growth dynamics, pricing rationalization in the ridesharing space, and Uber Eats strategy now lay the groundwork for a company go

(This story is for CNBC PRO subscribers only.) Colgate-Palmolive received a pair of upgrades on Monday as Wall Street analysts backed the consumer staple stock amid increased market volatility. RBC Capital Markets upgraded the stock, which rose by more than 6% on Friday even as the broader market sold off, to outperform from sector perform. Analyst Nik Modi said in a note to clients that the company was well positioned to match or beat its revenue guidance and benefit from increased demand by in

Analysts on Wall Street recommend buying the recent dip in Nike’s stock, which is getting hit on worries about the impact of the coronavirus epidemic. “We see the recent pullback as a multi-year buying opportunity,” JPMorgan retail analyst Matthew Boss said in a note to clients. JPMorgan said Nike’s recent weakness has brought the stocks price-earnings to growth ratio, commonly called the PEG ratio, to 1.5x, below the average 1.8x, meaning the stock is undervalued right now. In UBS’s downside sc

Oil storage tanks and refining facilities sit at the Esso oil refinery, operated by Exxon Mobil Corp. in Fawley, U.K.(This story is for CNBC PRO subscribers only.) Following Exxon’s disappointing fourth quarter earnings results, Goldman Sachs downgraded the stock to a sell rating Monday, saying “more compelling returns opportunities exist both among the global majors and global large cap stocks outside of energy.” The firm pointed to Exxon’s lack of free cash flow that will limit capital returns

Dr. Gregory Poland, director of Mayo Clinic’s Vaccine Research Group, told CNBC on Monday that the fast-spreading coronavirus is nearing pandemic status. “We’re basically at a pandemic now,” said Poland, regarding the deadly virus, which has currently been labeled as an epidemic. The World Health Organization said there’s been 151 coronavirus cases in 23 countries outside of China. The coronavirus and the regular flu have similar symptoms, which some health officials fear will cause misdiagnoses

Bernie Sanders weighs in on Jim Cramer’s call to get out of fossil fuel stocksSenator Bernie Sanders responded to CNBC’s Jim Cramer’s comments last week about how he’s done with fossil fuel. CNBC’s “Squawk on the Street” crew discuss the industry.

Bitcoin logged its best performance for the month of January since 2013 driven by safe-haven buying as global equity markets remain shaky following the outbreak of the coronavirus from China. The cryptocurrency was up over 29% in January as the market capitalization or value of all bitcoin in circulation rose by $39.7 billion. The percentage gain was the best since January 2013 when bitcoin was up 54% for the month. The coronavirus, which originated from Wuhan, China, has spread to other areas o

Billionaire hedge fund manager David Tepper, who was bullish on the market just a few weeks ago, said the coronavirus outbreak has changed the environment around stocks. Tepper, in an interview with Jim Cramer for TheStreet, said investors should be cautious until more is known about the virus. Tepper had told CNBC two weeks ago that he thought the market would keep climbing, saying “I love riding a horse that’s running.” Now, the coronavirus has “certainly ruined the environment” for stocks tha

According to a new ranking of worst and best values among the world’s top tourist attractions — and, in some cases, traps — the Burj Khalifa comes in near No. The building fared poorly due to its high entry fee and — despite its storied height — limited views, said a Club Med spokesperson. (Disclosure: CNBC and Universal Parks & Resorts are both subsidiaries of NBCUniversal, owned by parent Comcast.) On a positive note, the best tourist attraction in terms of value for money is the Peterhof Pala

The seven House impeachment managers, led by Rep. Adam Schiff, D-Calif., will take to the floor of the Senate at 11 a.m. House managers and defense lawyers are set to deliver their closing arguments in President Donald Trump’s impeachment trial, after Democrats’ failure to secure new witness testimony and documents all but guaranteed an acquittal . From the start of the impeachment proceedings in the Senate, it was considered unlikely that two-thirds of the GOP-majority chamber would vote to con

Copper is seen as a barometer of broad economic demand given its applications in electrical equipment and manufacturing. It could get worse for the commodity from here, warns Danielle Shay, trader specialist at Simpler Trading. “What we’ve seen over the course of the past two years really is this downward trend that I personally equate largely to the trade war. But of course, what we’ve seen over the course the last two weeks is the coronavirus.” In two weeks, copper has fallen to levels not see

If, after that process plays out, all parties agree to an extension, the term of the agreement will reset for another 16 years. If they cannot agree, USMCA will not disappear immediately, but a 10-year termination clock will start to tick. Former Speaker Paul Ryan warned that a deal with a sunset provision would get no Republican votes in Congress. The sunset provision will prevent USMCA from meeting the same fate. It therefore is understandable why the sunset provision generated so much controv

You can now stop police departments from sending notifications asking for video from your Amazon Ring doorbell. There’s been controversy over Ring’s decision to work closely with police departments to help investigate crimes. Some customers like that they’re able to share videos from their doorbells with police departments in an effort to help catch criminals. In a recent update to the Ring app, Amazon now lets customers opt out of receiving notifications from police departments who might be see

Apple’s stock has fallen more than 3% from its all-time high of $324.34 per share after a strong earnings report last week as investors worried how the spread of the coronavirus could impact the business. But persistent concerns over the spread of the coronavirus seem to have dampened some of the excitement over Apple’s earnings beat Tuesday that sent the stock soaring the next day. Apple CEO Tim Cook gave a wider than typical range of guidance for the next quarter due to uncertainty caused by t

— Domm10:17 am: El-Erian says coronavirus to ‘paralyze China,’ don’t buy stock dipsEconomist Mohamed El-Erian told CNBC’s “Squawk Box” on Monday that investors should “try and resist our inclination to buy the dip” in the stock market. —Li9:30 am: Dow up 100, but Apple is a dragThe Dow is taking a little bit of Friday’s 600-point drop back on Monday. UBS upgraded Nike to buy from neutral. The death toll in China from the coronavirus reached 361 on Sunday, surpassing that of the SARS virus which

Economist Mohamed El-Erian is warning investors not to buy declines in the stock market like they might have done before the coronavirus. The outbreak is going to take a major toll on the Chinese economy and hurt global growth, the Allianz chief economic advisor and ex-Pimco CEO told CNBC on Monday. “For a long time I though the market sentiment was so strong that we could overcome a mounting list of economic uncertainty,” El-Erian said on “Squawk Box.” It’s going to paralyze China. Investors in

Traders work on the floor of the New York Stock Exchange (NYSE) on January 21, 2020 in New York City. The U.S. stock market erased all of its 2020 advance amid growing concerns the fast-spreading coronavirus will lead to a global economic fallout, but a slew of Wall Street strategists believe the fears might be overblown. The market strategists believe the current pullback will be short-lived and are betting on an earnings rebound this year. Wall Street has an average year-end target of 3,356 on

A reading above 50 indicates expansion in the manufacturing sector, which accounts for 11% of the U.S. economy. The ISM index had held below the 50 threshold for five straight months. The ISM’s factory employment index rose to 46.6 last month from a revised reading of 45.2 in December, suggesting manufacturing payrolls could remain weak. The improvement in ISMs closely watched national survey follows a series of mixed readings on the manufacturing sector at the regional level. But factory activi

China told the World Health Organization that channels of communication with Taiwan had been”unblocked,” with Beijing sharing full information on the coronavirus with authorities across the Strait. Taiwan, which is not a WHO member due to China’s objections, has 10 confirmed cases of the coronavirus . Saudi Arabia is debating a short-term oil product cut as the deadly coronavirus continues to spread, the Wall Street Journal reported, citing OPEC officials. China’s Foreign Ministry accused the U.