American Express has long benefited from a focus on wealthier customers who appreciate the credit card company’s travel and dining perks. That has helped insulate the company from concerns over a spending slowdown. In the second quarter, total spending on Amex cards jumped 7%, matching the first quarter and higher than the 6% increase a…
Check out the companies making headlines before the bell: Block — The fintech stock surged 10% as it prepares to officially join the S & P 500 before the opening of trading on July 23. Block will replace Hess, which has been acquired by Chevron. Pinterest — Shares of the social media company jumped more…
Marco Pistoia, Global Technology’s Head of Applied Research and Engineering at JP Morgan. Source: JP Morgan JPMorgan Chase has overhauled the leadership of its internal research group responsible for quantum computing and other forms of advanced technology, hiring a State Street executive, CNBC has learned. Marco Pistoia, the former IBM inventor who became head of…
Check out the companies making the biggest moves midday: Bruker — The lab instrument and tools maker shed 12% after the company issued weaker-than-expected guidance for the second quarter. The company expects to earn between 32 cents and 34 cents per share on revenue ranging from $795 million to $798 million. Analysts polled by FactSet…
Jordi Vidal | Redferns | Getty Images Astronomer CEO Andy Byron’s controversy went so viral that it sparked millions of dollars in bets on prediction markets over his resignation. On July 16, Byron was caught on camera hugging his human resources director Kristin Cabot on a kiss cam during a Coldplay concert with the two quickly…
Here are some of the names making big moves in midday trading: Talen Energy — Shares popped more than 24%. Talen said it has signed agreements to acquire Moxie Freedom Energy Center in Pennsylvania and the Guernsey Power Station in Ohio, a pair of combined-cycle gas-fired plants. The deal comes out to $3.5 billion after…
Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Block shares jumped more than 10% in extended trading on Friday, as the fintech company gets set to join the…
Even if Apple’s long-awaited foldable may still be months or years away, buyers are lining up for a potential major supplier: Chinese glass maker Lens Technology . It’s “one of the key beneficiaries of [the] foldable iOS smartphone supply chain,” Citi analysts led by Kyna Wong said in a July 14 report about Lens Tech….
U.S. Federal Reserve Chair, Jerome Powell and U.S. President Donald Trump. Annabelle Gordon | Kevin Lamarque | Reuters If President Donald Trump tries to fire Federal Reserve Chair Jerome Powell, it would almost certainly set off a courtroom battle that legal and policy experts say is bound to get messy, with uncertain impacts on the…
It may be a strategic time to pivot away from this year’s Big Tech winners. Bob Elliott, who runs Unlimited Funds, suggests building portfolios designed to withstand a slowing economy over the next six months should be a priority. “You’re talking about positions long bonds, long gold and short the U.S. dollar,” the firm’s CEO…