Pizza chain Papa John's, trying to bounce back from a series of high-profile PR blunders, on Friday named basketball star Shaquille O'Neal as its newest board member and announced an $8.25 million three-year endorsement deal with the four-time NBA champion. O'Neal will also be an investor in nine Papa John's restaurants in Atlanta, the company said. Papa John's has been trying to fend off rivals such as Dominos Pizza Inc and Yum Brands Inc's Pizza Hut.
The KBW Bank Index shed 3.4 percent to fall to the lowest intraday since Jan. 15, with top decliners once again including regional banks Regions Financial Corp., KeyCorp, and Citizens Financial Group. Silicon Valley lender SVB Financial Group was the biggest loser, slumping more than 6 percent, the most since late December. Banks have been hit hard by the Fed's surprisingly dovish turn this week, with the KBW Bank Index dropping 8.4 percent in the past four days.
Your employer-sponsored 401(k) is one of the most powerful long-term investment tools you've got. "I get this question all the time: How much should I have in my 401(k)?" personal finance expert Ramit Sethi tells CNBC Make It . About 47 percent of millennials (defined here as those ages 25 to 34) have access to a workplace retirement plan like a 401(k), according to a recent academic report from Stanford University .
Struggling British department store group Debenhams said on Friday its shareholders could be wiped out as a result of some of the restructuring options it is considering and rebuffed a bid by Sports Direct to buy its Danish business. Debenhams has issued a string of profit warnings and lost 90 percent of its market value in the past year. The company is trying to fend off an attempt by its largest shareholder, Mike Ashley's Sports Direct, to take control of the business.
For investors seeking momentum, iShares 3-7 Year Treasury Bond ETF IEI is probably on radar now. The fund just hit a 52-week high, and is up nearly 4% from its 52-week low price of $118.15/share. But are more gains in store for this ETF?
CNBC's Courtney Reagan discusses the news that Walmart CTO Jeremy King is leaving the company.
A very dovish Federal Reserve The setup into Fed Day was this: A patient Fed on the interest rate hiking front would lead to a growth acceleration in the second half of this year. After all, how could the U.S. economy not catch fire with rate hikes all but off the table in 2019, the job market still solid and corporations benefiting from the Trump tax cuts. Unfortunately for the bulls, Powell stuck a dagger in their hearts by perhaps being too dovish.
While the stock price doesn't trade at too high a premium relative to its earnings, I think it'll take a defined trade deal with China, along with improvements in Europe, in order for the stock to find its momentum again. Those European improvements seem distant. The Financials Revenue increased in the fiscal third quarter results by 3% to $17.01 billion; failing to satisfy estimates on revenue growth.
Commercial Metals Co. (CMC) on Thursday reported fiscal second-quarter profit of $13.9 million. The Irving, Texas-based company said it had profit of 12 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 29 cents per share.
Comcast will debut a streaming video box for broadband-only customers. The box and service, called Flex, will cost $5 per month and be available next week. Comcast CMCSA is making it easier for its broadband-only customers to access streaming video without an outside set-top box.
Equities extended declines after new reports showed that the manufacturing industries in the U.S. and Germany manufacturing industry slid last month, fueling concerns of a global slowdown. The Dow (^DJI) sank 1.08%, or 279.33 points, while the Nasdaq (^IXIC) fell 1.13%, or 88.56 points. IHS Markit released its preliminary results for the March U.S. manufacturing purchasing managers' index Friday morning, with the reading falling to a 21-month low of 52.5.
DUBAI/LONDON (Reuters) - Budget needs are forcing Saudi Arabia to push for oil prices of at least $70 per barrel this year, industry sources say, even though U.S. shale oil producers could benefit and Riyadh's share of global crude markets might be further eroded. Riyadh, OPEC's de facto leader, said it was steeply cutting exports to its main customers in March and April despite refiners asking for more of its oil. The move defies U.S. President Donald Trump's demands for OPEC to help reduce prices while he toughens sanctions on oil producers Iran and Venezuela.
Just over a century later, some of his descendants are now worth about $5.6 billion, fueled by Levi Strauss & Co.'s first day of public trading in more than three decades on Thursday.The Haas family, which traces their lineage to the iconic blue-jean maker's founder, owns more than 61 percent of the San Francisco-based apparel maker's shares. Mimi Haas, a prominent philanthropist, is the company's biggest shareholder with a stake valued at about $1.3 billion. Other major shareholders of the business include Peter Haas's son, Peter Jr., and daughter Margaret, cousin Robert Haas and family members Daniel and Jennifer Haas.
Just a few months ago, rising rates were bearing down on everyone from home buyers to stock investors after the Federal Reserve put through seven quarter-point increases in 2017 and 2018. This year, the Fed has changed course. In January, it opened the door to a "patient" approach to further rate increases.
In a 1989 NBC "Today Show" interview, Bill Gates explains why he chose not to locate his company in Silicon Valley. He also shares what he was looking for in job candidates. At the time, Microsoft had just over 4,000 employees.
Heading into today, shares of the aerospace and defense company had lost 2.81% over the past month, outpacing the Aerospace sector's loss of 5.32% and lagging the S&P 500's gain of 2.14% in that time. Wall Street will be looking for positivity from LMT as it approaches its next earnings report date. On that day, LMT is projected to report earnings of $4.30 per share, which would represent year-over-year growth of 6.97%.
The market expects SMART Global Holdings, Inc. (SGH) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended February 2019. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Watch for a breakout from its five-month trading range, setting up a run at the 200-day moving average that would be worth a gain of 132% from here. The move comes despite a downgrade from analysts at BMO Capital Markets in January. The company, based in Switzerland, is an oilfield service company that supports the drilling, evaluation, completion, and production of oil and gas wells.
The major Asian stock indexes are trading mostly higher on Thursday after the U.S. Federal Reserve announced on Wednesday that it was keeping its benchmark interest rate unchanged, while indicating it would not raise rates in 2019. The news was a complete reversal from its policy in December, when the central bank projected two interest rate hikes for 2019. At 01:52 GMT, Japan's Nikkei 225 Index is trading 21608.92, up 42.07 or +0.20%.
In the wake of the U.S. Federal Reserve's decision to keep interest rates unchanged and to slash all projections of a rate hike this year comes a couple of completely different assessments of the moves. According to U.S.-based financial services giant S&P Global Ratings, the Fed is “not yet done” with rate hikes. All this suggests is be prepared for volatility in the Treasury markets with one camp indicating the possibility of at least one rate hike, and the other indicating lower rates.
CNBC's Jim Cramer breaks down his take on Fed Chair Jerome Powell and the central bank's forecast that it won't raise rates in 2019.
CNBC's Jim Cramer breaks down what investors should do now that the Fed has announced it would pause hiking interest rates for the remainder for 2019.
CNBC's "Power Lunch" team is joined by Richard Fisher, former Federal Reserve Bank of Dallas, to discuss the Federal Reserve's decision to leave interest rates unchanged.
Alex Dryden, JP Morgan Asset Management's global market strategist, joins "Squawk on the Street" to examine some of the biggest movers in the markets.