A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  — The third-quarter corporate earnings season is wrapping up: We now have reports from […]
New York CNN  — Phillips 66 is cutting at least 1,100 jobs by the end of this year as the refining giant seeks to slash costs and steer a larger chunk of its soaring profits to shareholders. At its investor day meeting in New York Wednesday, Phillips 66 detailed plans to slim down in a […]
New York CNN Business  — Elon Musk sold $3.95 billion worth of Tesla stock since completing his purchase of Twitter late last month. Musk’s Tesla stock sales, totaling 19.5 million shares, have been widely anticipated ever since the Tesla CEO reached a deal to buy Twitter for $44 billion. Musk had sold blocks of Tesla […]
New York CNN Business  — Wall Street is waiting for the results of Tuesday’s midterm election like the rest of the world, but traders say this week’s inflation report may prove to be far more consequential to markets. “Obviously this midterm election — because democracy is on the ballot — is a big deal in […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  — Tuesday’s midterm elections come at a time of economic vulnerability for the United […]
New York CNN Business  — Shares of used car marketplace Carvana continued to plummet Monday, falling over 50% over the past two trading days, following a volatile downward trend that began after the company shared third-quarter results Thursday. Shares dropped 15% Monday to close the day at $7.39 a share, continuing a downward trajectory that […]
Editor’s Note: This is an updated version of a story that originally ran on September 22, 2022. The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75% to 4%. While there may be plenty of downside in the form of higher borrowing costs […]
New York CNN Business  — Wall Street bulls may have come thundering back in October as bears appear to have gone into hibernation. But there’s another beast, albeit a mythical one, that has been pretty much absent from the stock market all year: Unicorns. There has been little demand for private companies to make their […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  — Despite a stock-market bounce in October that gave the Dow its biggest monthly […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  — When will central banks stop raising interest rates? That’s the multi-trillion dollar question […]