Getty Images Many Americans are having a crisis of confidence when it comes to whether their savings will meet their retirement goals. To that point, 52% of working Americans feel they are behind on their retirement savings, according to a new survey from Bankrate.com. They may be on to something. There’s a $4 trillion difference
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Since buying the Tampa Bay Lightning in 2010, Jeff Vinik has looked to transform downtown Tampa. The NHL team has improved on the ice, winning the 2020 and 2021 Stanley Cups, and he has spearheaded a more than $3.5 billion real estate development. While Vinik told CNBC’s Diani Olick that he is “no commercial real
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A Tesla Model X at a charging station in Beijing, China. Meghan Reeder | CNBC Lexus was rated the most reliable automaker in Consumer Reports’ 2021 Auto Reliability Report, followed by Mazda and Toyota, while Jeep, Tesla, and Lincoln were at the bottom of the list. The report, which was released Thursday, focuses on what
In this article KSS Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s on Thursday said sales rose 16% in the fiscal third quarter, as shoppers turned to its stores and website for clothes and makeup. The department store raised its
John Malone Getty Images Liberty Media Chairman John Malone said the sizzling IPO market and soaring equity valuations remind him of the dotcom bubble in the late 1990s. “There’s no question that the equity markets right now are so interested in growth above all other criteria and this is, like, the bubble in the late ’90s
Traders work on the floor of the New York Stock Exchange (NYSE) on October 25, 2021 in New York City. Spencer Platt | Getty Images Retailers are reporting this week. Here’s the good news: The consumer is strong, and retail balance sheets have dramatically improved. “I have been bullish for over a year,” David Berman, portfolio
David Espejo | Moment | Getty Images Many Americans are suffering from sticker shock after seeing prices rise in recent months. A new survey from Country Financial finds that 88% of Americans are highly concerned about inflation. That’s as consumer prices soared to a more than 30-year record high in October, as measured by a
The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021. Tyrone Siu | Reuters BEIJING — Highly indebted property developer China Evergrande will likely default because the company has essentially lost its main business, S&P Global Ratings analysts said in a report Thursday. Evergrande was
Prime Minister Alexander De Croo pictured during a press conference. HADRIEN DURE | AFP | Getty Images BRUSSELS — Belgium is toughening up social restrictions as Covid-19 cases surge, but Prime Minister Alexander de Croo tells CNBC the aim is still to keep society open. “It’s not the same virus anymore. This is a mutation
In this article CSCO Cisco CEO Chuck Robbins Manuel Blondeau | AOP.Press | Corbis | Getty Images Cisco shares tumbled as much as 8% in extended trading on Wednesday after the computer networking company reported quarterly revenue that fell short of analysts’ expectations and issued weaker-than-expected guidance. Here’s how the company did in its fiscal
In this article AFRM APT-AU The Klarna logo displayed on a phone screen. Jakub Porzycki | NurPhoto | Getty Images LONDON — Buy now, pay later services aren’t just popular among consumers. They’re also proving to be a hit with criminals. Fraudulent activity is on the rise at some of the largest buy now, pay
Elizabeth Holmes, founder of Theranos Inc., left, arrives at federal court in San Jose, California, U.S., on Wednesday, Sept. 22, 2021. Davie Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF. – Erin Tompkins, who got her blood drawn from a Theranos device at a Walgreens in Arizona, said the test misdiagnosed her as
A Rivian R1T electric pickup truck during the company’s IPO outside the Nasdaq MarketSite in New York, on Wednesday, Nov. 10, 2021. Bing Guan | Bloomberg | Getty Images (Click here to subscribe to the new Delivering Alpha newsletter.) Rivian’s blockbuster initial public offering last week pushed the total exit value for U.S. public-market listings this year
XiFotos | E+ | Getty Images Millions of Americans are quitting and finding new jobs as the pandemic-fueled “Great Resignation” continues. Many are probably leaving retirement plans with thousands of dollars behind. More than 25 million people who switched jobs between 2004 and 2014 left one or more employer-sponsored retirement accounts at their former
In this article 136-HK 3333-HK An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. Bobby Yip | Reuters BEIJING — Indebted property developer China Evergrande is set to raise about $273 million by selling its remaining shares in film production and streaming company HengTen Networks, according to a filing released
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In this article WMT CNBC’s Jim Cramer said Wednesday he’s looking to buy additional Walmart shares after the big-box retailer’s stock declined following its third-quarter earnings report. Although Walmart beat Wall Street’s expectations on per-share earnings and quarterly revenue, the “Mad Money” host said institutional investors are likely focusing on the company’s declining margins, leading
In this article NVDA Nvidia stock rose over 3% after the reported earnings on Wednesday for its third fiscal quarter that beat expectations for both earnings and sales. The company also issued a bullish forecast for revenue in the current quarter ending in January. Here’s how it did versus Refinitiv consensus expectations for the quarter
U.S. stock futures were flat in overnight trading after the major averages pulled back, albeit close to records, on Wednesday. Dow futures fell just 20 points. S&P 500 futures gained 0.05% and Nasdaq 100 futures rose 0.14%. Nvidia shares popped in extended trading after beating on the top and bottom lines of its quarterly results.