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Articles related to "cnbc"


Trump praises party-switching Rep. Van Drew, decries impeachment in blue-state campaign rally

  • — President Donald Trump praised Rep. Jeff Van Drew, the newest Republican in Congress, as he denounced Democrats' impeachment efforts at a raucous campaign rally in New Jersey on Tuesday.
  • During his visit to the coastal resort town of Wildwood in Van Drew's Republican-leaning district Tuesday night, Trump depicted Van Drew as a symbol for Democratic dissatisfaction with party leadership.
  • New Jersey is among the only solid-blue states in which Trump has held a 2020 campaign rally.
  • House Democrats launched the impeachment inquiry following a whistleblower's complaint about Trump's July 5 call with Ukraine President Volodymyr Zelenskiy.
  • Trump's defense team completed their opening statements Tuesday afternoon, wrapping up a series of arguments to convince the Republican-led Senate to acquit the president of the two impeachment charges against him.

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More US service members diagnosed with brain injury after Iran missile attack

  • A total of 50 U.S. service members suffered traumatic brain injury from this month's Iranian missile attack on Iraqi bases hosting American troops, the Pentagon said Tuesday.
  • Of those TBI cases, which can include concussions, 31 were treated in Iraq and have returned to duty, Pentagon spokesman Lt. Col.
  • Last week, the Pentagon said there were 34 service members diagnosed with concussions and traumatic brain injuries.
  • Of the 16 new diagnosed cases, 15 service members have returned to duty in Iraq, Campbell said.
  • One of those new cases involved a service member transported to Germany for further evaluation and treatment, bringing the total taken there to 18.
  • Last week, another Pentagon spokesman said that eight U.S. service members who were sent to Germany were then taken to the United States.

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Hong Kong stocks plummet about 2.5% on return from Lunar New Year holiday amid coronavirus concerns

  • Shares in Hong Kong plummeted Wednesday morning as they returned from a holiday amid coronavirus fears.
  • Insurance stocks also took a hit, with life insurer AIA declining 1.87% and Hong Kong-listed shares of China Life Insurance falling 4.27%.
  • Shares of Apple suppliers were mixed on Wednesday after Apple CEO Tim Cook said Tuesday that the Cupertino-based tech juggernaut's operations in China are being impacted by the ongoing coronavirus outbreak in the country.
  • The moves came after the Apple CEO said the firm has restricted employee travel and shut one store in China due to the coronavirus outbreak, also adding that the company is cutting back on retail store hours in China.
  • Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures up 0.96% to $60.08 per barrel.

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Everything Jim Cramer said about the stock market on 'Mad Money,' including Apple's quarter, Tesla's high expectations, Masimo CEO

  • CNBC's Jim Cramer broke down Apple's latest quarterly report that topped Wall Street's revenue and profit expectations.
  • The "Mad Money" host flagged that Tesla stock may fall if the electric car maker doesn't meet estimates in its quarterly report Wednesday.
  • Later in the show, he discussed patient privacy and medical records access with Masimo CEO Joe Kiani.
  • High expectations surround Tesla ahead of its quarterly earnings report, and the electric-vehicle maker has to come through, Cramer said.
  • Patients should have more say in how they can easily access their medical information and how it is shared by hospitals, Joe Kiani, CEO of medical device manufacturer , told CNBC.
  • In Cramer's lightning round, the "Mad Money" host took calls and delivered his thoughts about callers' favorite stock picks of the day.
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What to expect from Boeing's earnings as 737 Max crisis continues

  • Calhoun, a decadelong Boeing board member and former General Electric and Blackstone Group executive, took the helm earlier this month after previous chief Dennis Muilenburg was ousted for his handling of the Max crisis late last year.
  • Boeing's best-selling plane, the 737 Max, has been grounded since March, and the company reported negative overall orders in 2019, its worst performance in decades and one that drove down the manufacturer's revenue and earnings.
  • Boeing recently did an about-face on whether airline pilots will have to undergo simulator training, a process that promises to add to the company's costs and add to delays to when the planes can fly again.
  • Regulators haven't said exactly when they will recertify the planes as safe for the flying public but the FAA's administrator Steve Dickson last week told some airline executives it could happen before the middle of the year, slightly ahead of Boeing's forecast.

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Stocks making the biggest moves after hours: Apple, Starbucks, AMD and more

  • The company beat earnings estimates by 3 cents per share excluding some items, reporting quarterly profit of 79 cents per share.
  • Advanced Micro Devices – The semiconductor company stock dropped more than 4% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter revenue guidance.
  • The company reported a quarterly profit of 32 cents per share excluding certain items compared to a consensus estimate of 31 cents a share, according to Refinitiv.
  • Xilinx – The semiconductor manufacturing company's shares slipped nearly 10% in extended trading after the company missed third-quarter revenue estimates and provided weak fourth-quarter revenue guidance that fell below the consensus.
  • Alaska Air reported a fourth-quarter profit of $1.46 per share excluding certain items, compared to a consensus EPS estimate of $1.41, according to Refinitiv.

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Tim Cook says Apple has shut one store in China and is restricting employee travel because of coronavirus

  • Apple CEO Tim Cook said Tuesday the coronavirus outbreak in China is impacting Apple's operations in the country.
  • The company has restricted employee travel and shut one store in China due to the coronavirus outbreak, Cook said, adding that the company is cutting back on retail store hours in China.
  • Apple has "some suppliers" in the Wuhan area, Cook told investors on Apple's quarterly conference call Tuesday, and added that at least some of its manufacturing facilities elsewhere in China will remain closed until Feb. 10, as recommended by the Chinese government.
  • While its two primary manufacturing sites are far from Wuhan, the epicenter of the outbreak, Bloomberg reported this week that the emerging public health threat could disrupt the company's operations.
  • Chinese health authorities said Tuesday that the coronavirus outbreak has killed 106 people and infected 4,515.
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AMD falls after soft revenue projection

  • AMD shares fell as much as 4% after the company reported fiscal fourth-quarter earnings that slightly beat analysts' estimates on Tuesday, but offered a light revenue forecast for the current quarter.
  • Revenue growth for the 2019 fiscal year, at $6.73 billion, was up 4%.
  • In the quarter AMD released new Ryzen PC chips featuring tiny 7-nanometer transistors and Radeon gaming graphics cards.
  • With respect to guidance, AMD is calling for quarterly revenue of $1.8 billion, plus or minus $50 million, implying roughly 42% annualized growth, and a gross margin of 46%, excluding certain items.
  • For the 2020 fiscal year AMD sees 28% to 30% revenue growth and a 45% gross margin, excluding certain items.
  • Analysts polled by Refinitiv had expected $8.59 billion in full-year revenue, which implies about 24% growth.

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Trump impeachment trial: Defense wraps up case for acquittal, urges Senate to reject articles

  • President Donald Trump's lawyers on Tuesday completed their arguments in the Senate impeachment trial, bringing to a quick end a defense that attempted to discredit the evidence gathered by House Democrats in their initial probe.
  • Those officials testified during the House probe that a July 25 call between Trump and Ukraine President Volodymyr Zelenskiy in which Trump pressed his counterpart to announce an investigation into his Democratic rivals while withholding congressionally approved military aid was inappropriate.
  • The closing arguments come two days after a bombshell report that Trump told former National Security Adviser John Bolton that he wanted to withhold military aid to Ukraine in exchange for investigations into political rivals including former Vice President Joe Biden and his son Hunter.
  • Following Trump defense team's closing arguments, Republican senators planned to huddle in the Capitol to discuss the next steps in the trial, and assess where members of the caucus stood on the question of calling witnesses.

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Apple now has $207.06 billion in cash on hand, up slightly from last quarter

  • Apple now has $207.06 billion cash on hand, according to the company's fiscal first-quarter earnings report released on Tuesday.
  • That's a less-than 1% rise from its fiscal fourth quarter of 2019, when it reported a cash pile of $205.9 billion.
  • It's down about 15% from this quarter last year, when it reported a cash pile of $245 billion.
  • Apple continues to host one of the largest cash piles of any U.S. company.
  • Apple stock is heading into 2020 with a strong rally.
  • Shares are up more than 7% this year and more than 100% since reporting first-quarter earnings last year.
  • Moving forward, investors will look to Apple's sales in China, which accounted for 16.7% of its revenue in the last four quarters.
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