Caution tape hangs near the steps of Federal Hall across from the New York Stock Exchange in New York.Michael Nagle | Bloomberg | Getty ImagesThough it may have been controversial, the July jobs report helped confirm the notion that the U.S. economic engine is sputtering.Nonfarm payrolls rose by just 73,000 for the month, below even the muted expectations. Heavy downward revisions to the May and June count took the three-month average job gains down to just 35,000, or less than one-third the pace for the same period a year ago.Traditionally a lagging indicator when it comes to recessions, the weakness…
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Former Brazilian President Jair Bolsonaro speaks to the press at the Federal Senate in Brasilia on July 17, 2025. Mateus Bonomi | Afp | Getty ImagesBrazil’s Supreme Court on Monday issued an house arrest order for former President Jair Bolsonaro, who is standing trial for allegedly plotting a coup, in a move that could escalate tensions with the administration of U.S. President Donald Trump.Justice Alexandre de Moraes said in his decision that the right-wing firebrand did not comply with judicial restraining orders imposed on him last month.Moraes also banned Bolsonaro from receiving visits, with exceptions for lawyers and people authorized by…
Check out the companies making headlines in extended trading. Palantir — The defense technology stock advanced 4% after second-quarter earnings exceeded Wall Street’s expectations. Palantir said it reported adjusted earnings of 16 cents per share on $1.00 billion in revenue, while analysts polled by LSEG anticipated 14 cents per share and $940 million, respectively. Vertex Pharmaceuticals — The biotech stock sank 14% after second-quarter earnings topped estimates. Vertex posted adjusted earnings of $4.52 per share on revenue of $2.96 billion, while analysts surveyed by LSEG had penciled in $4.26 per share and $2.91 billion. Hims & Hers Health – Shares…
Crypto exchange Bullish is targeting a valuation of up to $4.23 billion in its United States listing, the company said in a filing on Monday, launching its roadshow to capitalize on the momentum built by digital assets amid regulatory clarity.Companies leveraging crypto and related technologies have rallied on friendly policymaking from the Trump administration, such as the recent passage of the GENIUS Act, which provides an initial regulatory framework for stablecoins.Bullish is seeking up to $629.3 million by offering 20.3 million shares priced between $28 and $31 each, marking its second attempt to go public in four years.At the top of its proposed range, the…
The Hers app arranged on a smartphone in New York, US, on Wednesday, Feb. 12, 2025. Gabby Jones | Bloomberg | Getty ImagesShares of Hims & Hers Health fell 9% in extended trading on Monday after the telehealth company reported second-quarter results that missed Wall Street’s expectations for revenue.Here’s how the company did based on average analysts’ estimates compiled by LSEG:Earnings per share: 17 cents adjusted vs. 15 centsRevenue: $544.8 million vs. $552 millionRevenue at Hims & Hers increased 73% in the second quarter from $315.6 million during the same period last year, according to a release. Hims & Hers reported a net income…
Adam Jonas, Morgan Stanley auto analyst.CNBCNoted Morgan Stanley auto research analyst Adam Jonas will be stepping into a new role at the firm.Save for a brief stint as a researcher at a European competitor, Jonas has been with Morgan Stanley (and predecessor firm Dean Witter) since graduating from college, eventually working his way up to leading the bank’s coverage of the automobile industry. With this latest move, Jonas will now focus on a wider artificial intelligence theme.”After nearly 30 years covering autos, I am pursuing an exciting opportunity within Morgan Stanley’s research department focusing on physical/embodied AI (AVs, eVTOLs, space,…
Alex Karp, CEO of Palantir Technologies, speaks on a panel titled Power, Purpose, and the New American Century at the Hill and Valley Forum at the U.S. Capitol on April 30, 2025 in Washington, DC. Kevin Dietsch | Getty ImagesPalantir topped Wall Street’s estimates Monday, surpassing $1 billion in quarterly revenue for the first time, and hiking its full-year guidance.Shares rallied more than 5%.Here’s how the company did versus LSEG estimates:Earnings per share: 16 cents adj. vs. 14 cents expectedRevenue: $1.00 billion vs. $940 million expectedThe artificial intelligence software provider’s revenues grew 48% during the period. Analysts hadn’t expected the…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: Wall Street is putting together a strong bounce-back session Monday after wrapping up last week on a sour note thanks to a weak jobs report. All three major benchmarks — the S & P 500 , tech-heavy Nasdaq and 30-stock Dow — added more than 1% in afternoon trading. It’s a broad-based rally, with 10 of the 11 sectors in the S & P 500 in the green. Energy is…
The chart of Tesla Inc. (TSLA) shows uncertainty on the part of investors, with fickle price action keeping the stock tethered to its 200-day moving average (MA). Following April’s recovery, the stock entered a consolidation phase characterized by volatile swings within a tightening range. This has resulted in a triangle pattern, with TSLA now approaching the lower boundary of that formation near $295. Weakened short-term momentum has characterized the recent downdraft into this support level, which is bolstered by the daily cloud model (shaded area on the chart). However, short-term oversold conditions may help prevent a breakdown. From a longer-term…
Artisan Partners’ Brian Krug looks for opportunities where others see none. As a portfolio manager on Artisan’s credit team, Krug aims to have a concentrated portfolio that invests selectively across the risk spectrum. That includes assets that may have sound businesses but are unpopular for some reason. “We buy sickly, out-of-favor businesses when they’re good businesses. They are just out of favor because of circumstances,” Krug said in an interview with CNBC. For instance, when the cruise ship companies were hit during the Covid pandemic, he and his team stepped in and provided financing. The strategy has earned Krug kudos…
