Sundar Pichai, Alphabet CEO. David Paul Morris | Bloomberg | Getty Images Shares of Alphabet climbed 8% during premarket trading Wednesday after the company reported earnings that beat revenue expectations, easing investors’ fears about the pandemic’s impact on advertising. The stock move is set to add over $70 billion to its market cap, bringing it
Federal Reserve chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell said in a virtual press conference on Wednesday following the
We each have our own different challenges to deal with, but if there’s one thing we can all agree with, it’s that there’s never been a more urgent need for laughter, inspiration and escapism. Luckily, we have podcasts to keep us informed — but not to an excessive degree — about the coronavirus pandemic, while also
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that positive news from Gilead Sciences about a potential treatment for the coronavirus marked a turning point in the fight against Covid-19. “What I regard this as is the beginning of the end of the true nightmare, which is that it’s a death sentence,” Cramer said on
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic
Signage is displayed outside the idled Ford Motor Co. Michigan Assembly plant in Wayne, Michigan, U.S., on Monday, March 23, 2020. Anthony Lanzilote | Bloomberg | Getty Images Ford Motor is set to report its first-quarter earnings after the bell on Tuesday as the company grapples with the fallout from the coronavirus pandemic that’s shuttered
The Spotify app on an iPhone. Fabian Sommer | picture alliance | Getty Images Spotify Technology reported a 22% jump in first-quarter revenue on Wednesday as the music streaming company beat analysts’ expectations to reach 130 million paid subscribers for its premium service. Revenue rose to 1.85 billion euros ($2.01 billion) for the three-months ended
The NIO Inc. ES6 electric sport utility vehicle (SUV) stands on display at the Auto Shanghai 2019 show in Shanghai, China, on Tuesday, April 16, 2019. Qilai Shen | Bloomberg | Getty Images For Chinese electric vehicle company Nio, the worst of the coronavirus impact is pretty much over, CEO William Li said Wednesday. “Nio hasn’t
CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day 21 of 30. With more than 26 million Americans
General Electric reported Wednesday a steep declines in first-quarter revenue and earnings as the industrial giant took a hit amid the coronavirus pandemic. The company posted a total revenue of $20.524 billion, which represents a year-over-year decline of 8%. GE Industrial profits fell 46% year over year to $1.096 billion from $2.017 billion. On an