business

CNBC’s Jim Cramer recommended that long-term investors put some cash to work in the broad market after Wall Street’s steep declines Tuesday. “Given that it’s a good idea to keep some money in an S&P 500 index fund for your retirement, you have my blessing tomorrow morning to commit some capital,” the “Mad Money” host
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Salesforce’s Marc Benioff told CNBC’s Jim Cramer on Tuesday that he was “never leaving” the enterprise software giant he co-founded in 1999. “But I couldn’t be more thrilled to have a great partner here with Bret Taylor,” Benioff said. Taylor on Tuesday was promoted to co-CEO of Salesforce alongside Benioff. Salesforce’s Marc Benioff told CNBC’s
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Bret Taylor will be co-CEO alongside Marc Benioff, who built Salesforce into one of the world’s largest enterprise software companies. Taylor was quickly promoted at Salesforce after the company acquired his productivity software start-up Quip in 2019. Taylor has been a prominent voice on earnings calls and played a key role in Salesforce’s Slack acquisition.
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Allbirds reported third-quarter revenue growth 33% from last year, while its losses widened. Co-founder and CEO Joey Zwillinger said the company saw notable strength in its stores in the United States, and shoppers responded well to new product launches. The company ended the quarter with 31 retail locations, including those outside the U.S. Allbirds said
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Salesforce reported fiscal third-quarter earnings on Tuesday. Salesforce named Bret Taylor to be co-CEO alongside current CEO Mark Benioff. Salesforce said earnings per share for the December quarter would be between 72 and 73 cents, lower than Refinitiv analyst expectations of 81 cents. Salesforce reported fiscal third-quarter earnings on Tuesday for the period ending Oct.
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The FDA’s Antimicrobial Drugs Advisory Committee voted 13 to 10 to recommend emergency authorization of molnupiravir. Molnupiravir is an oral antiviral drug designed to treat adults with mild to moderate symptoms of Covid-19 who are at high risk of severe disease. Most committee members agreed it was a difficult vote, with unanswered questions about the
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Microsoft shareholders voted for the proposal, backed by Arjuna Capital, at the company’s annual general meeting. The move comes after a board-level investigation into co-founder Bill Gates’ activities almost two decades earlier. Microsoft shareholders on Tuesday approved a proposal asking the board to publish a report on the effectiveness of its workplace sexual harassment policies
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Automotive executives believe President Joe Biden’s goal of half of new vehicles sold in the U.S. to be electric by 2030 is achievable, according to a new KPMG survey. While estimates varied widely, the survey on average found that executives expect 52% of new vehicle sales to be all-electric by 2030. A majority of survey
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White House chief medical advisor Dr. Anthony Fauci said Tuesday that 226 cases of the highly mutated omicron Covid-19 variant have been detected across 20 countries so far, but U.S. officials haven’t yet confirmed a case in the states. The variant, which first emerged in South Africa about a week ago, has more than 30
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National Retail Federation CEO Matt Shay said Tuesday that the new Covid-19 variant could direct more dollars toward electronics, toys, apparel and other items instead of vacations and movie tickets. News of the omicron variant came during a key time for holiday shopping. The trade group reiterated that its forecast of between $843.4 billion and
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Allbirds, which reports its first earnings as a public company on Tuesday, has looked to set itself apart from other companies in the sneaker and apparel space like Adidas, Nike and Lululemon through its heavy focus on environmentally friendly products and business practices. As more money is flowing into ESG-focused investments, Wall Street analysts appear
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Beauty is expected to be a hot category this holiday season, as more people primp for parties and return to stores again. The holiday season brings the first big test for partnerships that Target and Kohl’s have struck with Ulta Beauty and Sephora. Both Target and Kohl’s say the partnerships are helping bring new customers
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Jack Dorsey sold his first tweet as an NFT and donated the proceeds to charity earlier this year. Gemini, the cryptocurrency company founded by bitcoin billionaires Cameron and Tyler Winklevoss, have launched a “Give Back with Crypto” feature. NFT platforms including Metagood, OpenSea, and DoinGud, which launches on Giving Tuesday, are focusing on philanthropy as
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Elon Musk described a dire situation with SpaceX’s development of Raptor rocket engines the day after Thanksgiving in a company-wide email, a copy of which was obtained by CNBC. “The Raptor production crisis is much worse than it seemed a few weeks ago,” Musk wrote. Raptor engines power the company’s Starship rocket, with Musk adding
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Check out the companies making headlines in premarket trading. Regeneron Pharmaceuticals (REGN) — Regeneron shares fell more than 1% in the premarket after the company said its Covid-19 antibody cocktail and similar drugs could be less effective against the omicron Covid variant. The drugmaker said mutations in the variant suggest “there may be reduced neutralization
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Shopify has seen strong Cyber Monday sales across its worldwide network of merchants, according to the company’s president, Harley Finkelstein. “We don’t have final numbers, but Shopify merchants have now surpassed last year’s sales of $5.1 billion globally,” he told CNBC’s Jim Cramer. Shopify President Harley Finkelstein told CNBC that Cyber Monday sales have been strong across
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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed. Matterport: “3D camera, everybody loves 3D. I’ve never made any money on 3D. I’m going to have to take a big pass since that’s stock already moved too
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BMW on Monday night unveiled a high-performance concept vehicle that previews an electrified crossover expected to begin production late next year in South Carolina. The new production car, called the BMW XM, will be available exclusively as a plug-in hybrid electric vehicle under the company’s “M” performance division, the company said. BMW said the U.S.
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Defense attorneys wrapped up their questioning of Theranos founder Elizabeth Holmes on Monday, her fourth day on the stand. Holmes gave emotional testimony, accusing Theranos ex-president Ramesh “Sunny” Balwani of physical and psychological abuse. Prosecutors now get their opportunity to cross-examine Holmes, who is facing 11 counts of wire fraud and conspiracy to commit wire
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