CNBC’s Jim Cramer explains what is at stake regarding the long-term economic consequences of the coronavirus. Aly Song | ReutersIt’s too early to determine the long-term economic consequences of the deadly coronavirus, CNBC’s Jim Cramer said Thursday. The “Mad Money” host said there are obviously immediate concerns surrounding the economy of China, where the outbreak first appeared. Tesla’s success is similar to Amazon and NetflixTesla CEO Elon Musk and Shanghai’s Mayor Ying Yong attend the Tesl

One Medical parent 1Life Healthcare priced its initial public offering at $14 per share late Thursday, at the bottom of the expected range of $14-$16 per share. The health care services firm, which is not yet profitable, raised $245 million in gross proceeds through JP Morgan and Morgan Stanley. The company has 400,000 members across 77 medical offices, who pay $199 a year for membership, and it counts more than 4,000 employer customers who foot the membership bill for their workers. One Medical

Wyndham Destinations became the third major company in three days to announce it will stop donating millions of dollars to Florida’s private school voucher program after a newspaper investigation found that some of the program’s beneficiaries discriminate against LGBTQ students. Wyndham said that it told the organization last year that it would “halt funding if concerns about the voucher program were not addressed.” “That means at least 14 percent of Florida’s nearly 147,000 scholarship students

A lawyer for Musk and a spokesman for Tesla did not immediately respond to a request for comment. Musk and the Tesla board also are scheduled to defend Musk’s pay package at a trial in Delaware next year. Musk was SolarCity’s chairman and largest shareholder, and five of Tesla’s directors were direct or indirect owners of SolarCity stock. Tesla touted synergies of combining the companies in the all-stock deal, which was approved by Tesla shareholders. After the deal closed, Tesla slashed its sol

A SpaceX facility under construction in this aerial photograph taken in April 2018 above the Port of Los Angeles. The new rocket factory would build SpaceX’s massive, next-generation rocket called Starship. SpaceX is talking to government officials about building a major manufacturing facility in the Port of Los Angeles, CNBC confirmed on Wednesday. This deal would add 18 acres in the heart of the Port of L.A., on Terminal Island. Port of Los Angeles spokesman Phillip Sanfield confirmed that neg

Callaghan O’Hare | Bloomberg | Getty ImagesHere are the most important things to know about Friday before you hit the door. Caterpillar earningsIndustrial giant Caterpillar is set to report quarterly earnings before the bell Friday. At the height of the U.S.-China trade war last year, Caterpillar took a big hit from higher material costs including tariffs. A transition period will follow immediately, where the country will still be subject to European laws and rules, but it will not have voting

Telecom and media giant AT&T will eventually need to be split apart to separate its core business from its latest acquisitions, analyst Craig Moffett told CNBC on Thursday. Moffett, an analyst at MoffettNathanson, said on “Squawk Box” that AT&T will eventually separate its telecom business from its media business. “Somebody is going to come into AT&T eventually and — whether it’s in three years, five years, whatever — they’re going to have to break that company up.” In addition to AT&T, Moffett

The report topped Wall Street’s estimates on earnings and revenue following what the company called a “record” holiday sales season. So, I think that’s going to take us higher. Amazon Web Services grew 35% in the third quarter, trailing estimates and Microsoft Azure’s 59% growth in the same time frame. A recent Goldman Sachs survey showed Azure was also getting more usage at large companies than Amazon Web Services, which remains the market leader by revenue. Disclosure: Peak6 Capital Management

The State Department on Thursday authorized a departure of all non-emergency government employees from the U.S. Embassy in Beijing, along with their family members, as the deadly coronavirus continues to spread. The authorization also extends to U.S. consulates general stationed in the Chinese cities of Chengdu, Guangzhou, Shanghai, and Shenyang, according to a State Department official. Both the U.S. Embassy and Consulates General will continue to provide consular services across China, as reso

An American Airlines Boeing 787 (front) and Delta Airlines Airbus A350 aircraft (background, obscured) wait to take off at Beijing airport on July 25, 2018. The union that represents American Airlines pilots said Thursday that it’s suing the carrier to halt service to China amid the coronavirus outbreak, which has killed more than 170 people in China and infected more than 8,000 around the world. The Allied Pilots Association, which represents about 15,000 pilots for the Fort Worth, Texas-based

Dow Jones Industrial Average rises 124 pointsThe Dow climbed 124.99 points, or 0.43%, to end the day at 28,859.44. Virus fearsChinese authorities said the death toll from the coronavirus has topped 150 with confirmed cases surpassing 8,000. This triggered a so-called yield-curve inversion, an event that has preceded recessions in the past. Facebook tumbles, Tesla goes ludicrousFacebook shares tumbled 6.14% after the company’s latest quarterly results showed a sharp increase in costs. Tesla, mean

China is a crucial emerging market to Mondelez, accounting for roughly 4.5% of the company’s sales. The company has invested heavily in China in the past few years, focused primarily on product development and marketing there. Mondelez reported fourth-quarter earnings on Wednesday that beat analyst forecasts and revenue that topped expectations. Mondelez also earned 61 cents per share, on an adjusted basis, one cent above analyst estimates. Van de Put said the company found sales by focusing on

Nine companies pitched their products to three sets of panelists that included former and current NFL players for the opportunity to receive marketing funds, mentorship, and obtain NFLPA licensing rights. Steve Scebelo, interim president of NFL Players, the licensing and marketing arm of the NFLPA, said assisting women and minorities has been a goal of the NFLPA since Pitch Day began in 2016. Winners will receive $10,000 in marketing money, allowing them the option of selecting NFL players to he

Nelson Peltz speaking at the 2019 Delivering Alpha conference in New York on Sept. 19, 2019. Legendary activist investor Nelson Peltz praised the leadership of companies in which he owns stakes and said President Donald Trump’s approach to trade is correct. Peltz, the CEO of Trian Partners, appeared on CNBC’s “Closing Bell” on Thursday after some of his major holdings reported quarterly results earlier in the week. One of those companies, GE, saw its stock jumped more than 10% in the session fol

The company has to exit Chapter 11 by a crucial June 30 deadline, and there is one huge remaining obstacle: California Gov. “PG&E, that company no longer exists,” Newsom said this week at an event by the Public Policy Institute of California. And he kept repeating this threat: “There’s going to be a new company or the state of California takes it over.” Newsom revealed he’s been working on a plan for six months to take over the utility. “We are going to do justice to the victims,” Newsom respond

Nordstrom: “My buddy Matt Boss at J.P. Morgan is really saying, ‘This could be, this could be, this could be,’ but you know what I say, let somebody else make that money … It’s a renewable chemical that I think has a place as a spec, but that is it, OK? I think that its cystic fibrosis drug is the real deal, and Wall Street continually underestimates it. Southern Co.: “You’ve got to let that one cool off. You’ve got to let them cool off.

Watch CNBC’s full interview with Hershey CEO Michele BuckHershey CEO Michele Buck joins CNBC’s “Closing Bell” to discuss the company’s beats on Q4 EPS and revenue.

Amazon reported earnings of $6.47 per share on revenue of $87.44 billion, while analysts expected earnings of $4.03 per share on revenue of $86.02 billion, according to Refinitiv consensus estimates. Amgen – The biotechnology company’s stock dropped more than 2% in extended trading after the company beat analysts’ earnings estimates but revenue came up short. Visa – Shares of the financial services company dropped more than 3% in extended trading after it matched earnings but missed on revenue.

Andy Jassy, CEO of Amazon Web Services, speaks at the 2019 CERAWeek by IHS Markit conference in Houston, Texas, on March 11, 2019. Aaron M. Sprecher | Bloomberg | Getty ImagesAmazon’s cloud business picked up $9.95 billion in revenue in the fourth quarter, growing faster than analysts had expected. Amazon Web Services revenue grew 34.0% in the quarter from a year earlier, Amazon said in a statement Thursday. Analysts polled by FactSet had predicted $9.81 billion in AWS revenue, or a 32% growth r

Amazon’s stock soared more than 11% in extended trading after beating Wall Street expectations for the fourth quarter, and CEO Jeff Bezos added several billion to his net worth. According a securities filing from earlier this month, Bezos owns more than 57 million shares of Amazon that he can sell. With the stock up by about $219 per share in extended trading, the value of Bezos’ stake rose by roughly $12.6 billion. The tech giant reported earnings of $6.47 per share and $87.44 billion in revenu