Business news

Get latest business news on stock markets, financial & earnings on CNBC. View world markets streaming charts & video, check stock tickers and quotes.

Warren Buffett says ‘never bet against America’ in letter trumpeting Berkshire’s U.S.-based assets
Business news

Warren Buffett says ‘never bet against America’ in letter trumpeting Berkshire’s U.S.-based assets

Warren BuffettGerard Miller | CNBCWarren Buffett, the 90-year-old "Oracle of Omaha," remains a firm believer in the American dream, saying in his closely watched annual shareholder letter to "never bet against America.""In its brief 232 years of existence ... there has been no incubator for unleashing human potential like America," the chairman and CEO of Berkshire Hathaway wrote in the letter released Saturday. "Despite some severe interruptions, our country's economic progress has been breathtaking. Our unwavering conclusion: Never bet against America."Buffett shared a fact in the letter to illustrate Berkshire's American credentials. He said the conglomerate owns the biggest amount of U.S. assets (property, plant and equipment) by value than any other company in the coun...
Cinemark Holdings Inc. (CNK) Q4 2020 Earnings Call Transcript
Business news

Cinemark Holdings Inc. (CNK) Q4 2020 Earnings Call Transcript

Cinemark Holdings Inc. (NYSE: CNK) Q4 2020 earnings call dated Feb. 26, 2021Corporate Participants:Chanda Brashears — Vice President of Investor Relations and Corporate CommunicationsMark Zoradi — Chief Executive Officer, Board DirectorSean Gamble — Chief Operating Officer and Chief Financial OfficerAnalysts:Eric Wold — B. Riley Securities — AnalystEric Handler — MKM Partners — AnalystMike Ng — Goldman Sachs — AnalystJim Goss — Barrington Research — AnalystRobert Fishman — MoffettNathanson — AnalystDavid Karnovsky — JPMorgan — AnalystAlan Gould — Loop Capital — AnalystMary Ann Gallucci — Morgan Stanley — AnalystPresentation:OperatorLadies and gentlemen, thank you for standing by. And welcome to the Cinemark’s Fourth Quarter and Full Year 2020 Earnings Call...
The return of the bond vigilantes
Business news

The return of the bond vigilantes

Many eulogies have been written for the “bond vigilantes” that were once said to prowl global markets for spendthrift countries to bully into fiscal rectitude. But the vigilantes seem to have saddled up again.The term was originally coined by former EF Hutton economist Edward Yardeni in the early 1980s to describe how bond sell-offs could force the hand of central banks or governments. The concept was later immortalised by James Carville, an aide to President Bill Clinton who in 1994 ruefully wished he could be reincarnated as the bond market so he could “intimidate everybody”.For the past two decades there has been little sign of the vigilantes. Inflation remained quiescent globally, and a desperate hunger for returns eroded the discipline of many bond investors. Since the financial c...
Will partnerships make Beyond Meat (BYND) palatable to investors?
Business news

Will partnerships make Beyond Meat (BYND) palatable to investors?

Beyond Meat Inc. (NASDAQ: BYND) is probably the most innovative food company ever, for the new trend it brought in people’s eating habits is revolutionary. The turnaround efforts of the firm, which went public nearly two years ago, were scuttled by the virus-related disruption to some extent, at a time when the business model was being accepted across the market.The concept of plant-based food that imitates meat was viewed with skepticism initially, but its popularity is increasing steadily amid the growing health and environmental awareness among people. Taking a cue from the positive momentum, several food companies and restaurant chains are working on their own plant-based food products.The company, headquartered at El Segundo in California, is yet to create sustainable shareholder ...
Wall Street stocks sell off as government bond rout accelerates
Business news

Wall Street stocks sell off as government bond rout accelerates

US government bonds endured another day of heavy selling, jolting the stock market, as investors braced themselves for stronger economic growth.The yield on the benchmark 10-year Treasury rose as much as 0.16 percentage points on Thursday to exceed the 1.5 per cent threshold for the first time in a year. The five-year yield, which is considered to be more sensitive to medium-term monetary policy shifts, jumped 0.22 points to 0.82 per cent, the second-largest one day rise seen over the past decade.The sell-off in the bond market ricocheted into equities, pushing the broad S&P 500 down 2.3 per cent and the tech-heavy Nasdaq Composite down 3.3 per cent by afternoon on Wall Street.This week’s sharp moves in the government bond market underscore how investors are increasingly anticipa...
Dow futures rise 100 points following index’s record close
Business news

Dow futures rise 100 points following index’s record close

U.S. stock index futures moved higher in early morning trading Thursday after the Dow closed at a record level.Futures contracts tied to the Dow Jones Industrial Average gained 111 points. S&P 500 futures and Nasdaq 100 futures also both traded in positive territory.The move comes after the Dow jumped 425 points on Wednesday to close at a record high in a volatile session that at one point saw the 30-stock average drop more than 110 points. The S&P 500 advanced 1.1%, while the Nasdaq Composite gained 1%. Earlier in the session, the tech-heavy index was down 1.3%.Rising rates weighed on stocks early in the session as the U.S. 10-year Treasury yield topped 1.4% and hit its highest level since February 2020. Higher rates could spur investors to rotate out of stocks and into bo...
Google’s program for Black college students suffered disorganization and culture clashes
Business news

Google’s program for Black college students suffered disorganization and culture clashes

The Google campus in Mountain View includes over 20 dining options that encourage a communal experience with group tables.Brooks Kraft LLC | Corbis | Getty ImagesIn 2017, Lauren Clayton joined the inaugural class of Howard West, Google's on-campus immersion program for Black college students. She became a star scholar whose big smile would grace marketing materials and news coverage.As the solitary Black lady in that debut class to score a desired entry level position offer from Google, she currently says the program's chiefs didn't convey on the guarantees that roused her to acknowledge the proposal in any case."I didn't have anything yet certain comments during that time, yet that was before the guarantees were broken."She says a Howard West program pioneer vowed to coord...
Business news

Racial inequality plagues US vaccine rollout

People living in areas hit hardest by the pandemic are being vaccinated at a slower rate than the rest of the US population, according to a Financial Times analysis of data from five major metropolitan areas, underscoring deep-seated racial disparities in access to inoculations.Government health officials are alarmed by lower vaccination rates in neighbourhoods where people of colour tend to live, especially African Americans, and the FT’s analysis suggests that this is among the biggest factors in whether someone has received a jab.That is especially true in Chicago, where a map illustrating vaccine distribution by zip code underscores historic segregation in the city, which has more resources — from grocery stores to parks — in the predominantly white North Side and downtown, and few...
Four highlights from Roku’s (ROKU) Q4 earnings report
Business news

Four highlights from Roku’s (ROKU) Q4 earnings report

Shares of Roku Inc. (NASDAQ: ROKU) fell 1.1% in morning hours on Friday. The stock has gained 274% over the past 12 months. The company reported strong results for the fourth quarter of 2020 a day ago, exceeding expectations, and provided an upbeat outlook. Net revenue increased 58% year-over-year to $649.9 million and the company delivered a surprise profit of $0.49 per share in the quarter.User baseStreaming gained momentum in 2020 during the COVID-19 pandemic as people spent more time at home exploring various entertainment options. Roku benefited from this trend, witnessing strong growth in active accounts, particularly during the second and third quarters of the year. The company added over 14 million active accounts during 2020. At the end of the fourth quarter, Roku had 51.2 mil...
How a rush of a high-energy, momentum-embracing retail traders is remaking markets
Business news

How a rush of a high-energy, momentum-embracing retail traders is remaking markets

Traders on the floor of the New York Stock ExchangeThe rush of retail investors into stocks is putting a charge into the post-Covid bull run while also turning trusted market signals staticky and upending some familiar trading patterns.About 10 million or so new online brokerage accounts were opened last year by relative newcomers who are, in general, shunning the plodding, passive, get-rich-slowly approach in favor of playing small, fast-moving stocks, short-dated options and unproven companies with a claim on some big-picture societal trend.This action is changing the market's metabolic readings in several ways, the clearest perhaps being the blistering turnover rates in the riskier regions of the tape.Credit: CNBC