Business

Hundreds of small and regional banks across the U.S. are feeling stressed. “You could see some banks either fail or at least, you know, dip below their minimum capital requirements,” Christopher Wolfe, managing director and head of North American banks at Fitch Ratings, told CNBC. Consulting firm Klaros Group analyzed about 4,000 U.S. banks and

The Wayfair app on a smartphone arranged in Hastings-on-Hudson, New York. Tiffany Hagler-Geard | Bloomberg | Getty Images Wayfair’s sales slid during its first fiscal quarter, but the online furniture retailer reduced its losses after cutting 13% of its workforce at the start of the year, the company announced Thursday.  Wayfair beat Wall Street’s expectations

WASHINGTON – The Federal Reserve on Wednesday held its ground on interest rates, again deciding not to cut as it continues a battle with inflation that has grown more difficult lately. In a widely expected move, the U.S. central bank kept its benchmark short-term borrowing rate in a targeted range between 5.25%-5.50%. The federal funds rate has

Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023. Brandon Bell | Getty Images Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record quarterly results and turned a profit during the first quarter. Here is how the company performed in the

Nicolas Economou | Nurphoto | Getty Images Bitcoin slid to its lowest level in over two months to kick off May, as the Federal Reserve held interest rates steady. The cryptocurrency at one point dropped 5% to $56,526.00, its lowest level since Feb. 27, according to CoinMetrics. It was last lower by about 4% at

Jakub Porzycki | Nurphoto | Getty Images Pfizer on Wednesday reported first-quarter revenue that beat expectations and hiked its full-year profit outlook, benefitting from its broad cost-cutting program and strong sales of its non-Covid products. The company now expects to book adjusted earnings of $2.15 to $2.35 per share for the fiscal year, up from

An Amazon worker walks past his Amazon Prime delivery truck in Washington, DC, on February 19, 2022. Stefani Reynolds | Afp | Getty Images Check out the companies making headlines in extended trading. Amazon — Shares gained nearly 2% after the company beat on both top and bottom lines. Amazon posted earnings of 98 cents

A Starbucks coffee shop in Amsterdam. Nicolas Economou | Nurphoto | Getty Images Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales. The coffee chain also slashed its forecast for its fiscal 2024 earnings and revenue, predicting that its cafes would keep underperforming for several quarters. Shares

A new ETF designed to shield investors from the risk of market volatility starts trading on Wednesday.  The Calamos S&P 500 Structured Alt Protection ETF (CPSM) promises to deliver investors “100% downside protection” against the index’s losses over a one-year outcome period, according the firm’s news release. Calamos’ head of ETFs Matt Kaufman helped build

McDonald’s french fries Picture Alliance | Picture Alliance | Getty Images McDonald’s reported mixed quarterly results Tuesday as its reorganization weighed on its profits and boycotts hurt its Middle Eastern sales. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $2.70 adjusted vs.

The HSBC Holding logo is being displayed on a smartphone with HSBC visible in the background in this photo illustration taken in Brussels, Belgium, on February 20, 2024.  Jonathan Raa | Nurphoto | Getty Images HSBC beat market expectations in its first quarter earnings report on Tuesday, and announced the surprise departure of Group Chief

Bob Bakish, president and chief executive officer of Viacom, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 11, 2023 in Sun Valley, Idaho.  David A. Grogan | CNBC Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed

U.K. tech startup Synthesia unveiled a new range of AI-generated avatars that can convey emotions like happiness, sadness, and frustration. Synthesia Nvidia-backed artificial intelligence firm Synthesia on Thursday unveiled a new wave of AI-generated digital avatars that can convey human emotions using a user’s text inputs. The company said its “Expressive Avatars” can blur the

Southwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing’s airplane delays will hamper its growth into 2025. The airline expects to grow capacity 4% this year, down from a plan to expand 6%. For the second quarter, it forecast growth of 8%

Elon Musk, CEO of Tesla and owner of social media site X, formerly known as Twitter, attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France, on June 16, 2023. Gonzalo Fuentes | Reuters BEIJING — Local Chinese authorities have removed restrictions on Tesla cars

Starbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate. The two sides’ return to the bargaining table follows their February announcement that they found a “constructive path forward” during mediation discussions related to litigation over the union’s use of Starbucks’ branding. It marked a major pivot for

Deutsche Bank shares popped to a more than six-year high on Thursday, after the German lender reported a 10% rise in first-quarter profit, beating expectations amid an ongoing recovery in its investment banking unit. Shares of Deutsche Bank provisionally ended the trading session up 8.2%. After declining in the morning, the stock price reversed course

A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California.  Mario Tama | Getty Images Starbucks and Workers United, representing roughly 400 of its cafes, said

Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. The Dow Jones Industrial Average slid 375.12 points, or 0.98%, to close at 38,085.80, weighed down by steep declines in Caterpillar and IBM. The S&P 500 dropped 0.46% to finish the session at 5,048.42, and

A CVS Omnicare pharmacy in Las Vegas has become the first location to join a new national pharmacy union, a milestone for organizers trying to help thousands of U.S. pharmacy workers address what they call unsafe working conditions.  Nearly 30 pharmacy staff at the Las Vegas branch of CVS’s Omnicare won their union election on