Check out the companies making headlines in premarket trading. Alibaba — U.S.-listed shares of the Chinese e-commerce giant slipped 3.2%, adding to Thursday’s steep losses that were sparked by Alibaba announcing that it would no longer spin off its cloud computing business. Alibaba pointed to the U.S. export restrictions on advanced chips as justification for…
Check out the companies making headlines in extended trading. Applied Materials — Shares of the semiconductor company slid more than 7%. Reuters , citing people familiar, reported that Applied Materials was being probed by the Justice Department for potentially dodging export restrictions on Chinese chip company SMIC. Gap — Shares climbed 15% after the clothing…
Cleveland Federal Reserve President Loretta Mester said Thursday that this week’s news showing lower levels of inflation isn’t enough to convince her that the central bank has won its battle against higher prices. “We’re making progress on inflation, discernible progress. We need to see more of that,” Mester told CNBC’s Steve Liesman during an interview…
Check out the companies making headlines in midday trading. Sonos — The stock climbed 17% after Sonos CEO Patrick Spence said the company is entering a multiyear product cycle that will include an entry “into a new multi-billion dollar category” in the second half of fiscal 2024. Macy’s — Shares of the department store chain…
Charles Munger at the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, April 29, 2022. David A. Grogan | CNBC Berkshire Hathaway Vice Chairman Charlie Munger pushed back against a report that alleged his partner Warren Buffett at times traded stocks in his personal account before the conglomerate made moves in the same securities. Munger,…
Check out the companies making headlines in premarket trading. Walmart — The big box retailer fell 4.7% after reporting adjusted earnings-per-share guidance for the year of $6.40 to $6.48, lighter than analysts expected. However, Walmart’s adjusted earnings of $1.53 per share topped the $1.52 expected from analysts polled by LSEG. Revenue was $160.8 billion, versus…
Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong, China. Xaume Olleros | Bloomberg | Getty Images LONDON — Burberry shares plunged 9% on Thursday after the British luxury fashion retailer warned that full-year operating profit will come in at the low end of forecasts amid…
Check out the companies making headlines in extended trading. Cisco Systems – Shares tumbled nearly 11% after the digital communications company offered worse-than-expected guidance for the current quarter and full year. That pulled attention away from a strong report for the fiscal first quarter, with Cisco beating the consensus forecasts of analysts polled by LSEG…
BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping met Wednesday outside of San Francisco in their first face-to-face encounter in a year. The summit, on the sidelines of the Asia-Pacific Economic Cooperation conference, followed efforts between the U.S. and China to increase high-level communication amid continued tensions. “We have to ensure that…
Check out the companies making headlines in midday trading. Holley — Shares of the auto parts manufacturing company added 5.6% following an upgrade by Jefferies to buy from hold. The investment bank predicts Holley’s sales will ramp up in the fourth quarter and thinks the stock is trading at a significant discount to historical averages.…
