Latest news with #AlexHarring
CNBC
2 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: Dollar General, Constellation Energy, Pinterest, Hims & Hers Health and more
Check out the companies making headlines before the bell. Dollar General — Shares of the discount retailer popped more than 10% after the company lifted its annual sales outlook, saying its updated guidance assumes that current tariff rates will remain through mid-August. Dollar General also beat on top and bottom lines for the first quarter. The company reported earnings of $1.78 per share on revenue of $10.44 billion, exceeding estimates of $1.48 per share and $10.31 billion, per LSEG. Hims & Hers Health — The telehealth platform added more than 5% after the company said it will acquire European counterpart Zava. The deal will grow Hims & Hers Health's active customer base by about 50%. Constellation Energy — Shares of the energy giant jumped 9% after Meta signed a 20-year agreement to buy nuclear power from Constellation Energy. Meta , which owns Facebook and Instagram, will buy roughly 1.1 gigawatts of energy from Constellation's Clinton Clean Energy Center in Illinois beginning in June 2027. Shares of energy stocks Vistra Energy and NRG Energy rose 5% and 2%, respectively, in sympathy with the news. Bumble — The dating app's stock tumbled 6% on the heels of JPMorgan's downgrade to underweight from neutral. JPMorgan said the stock is losing market share to competitor Hinge. Paramount — The entertainment giant nominated three new directors to its board and scheduled its shareholder meeting for July 2, according to its annual proxy statement published Sunday. Shares of Paramount, which is also in talks to settle an election-interference lawsuit by President Donald Trump against CBS News, slipped more than 1%. Pinterest — Shares popped more than 4%. The move comes after JPMorgan upgraded the image sharing platform to overweight from neutral, saying Pinterest has made progress in its priorities including adding users and improving monetization. JPMorgan hiked the price target to $40 from $35, implying 25% upside from Monday's close. Block — The fintech stock added more than 3% after Evercore ISI upgraded shares to outperform from in line, turning more positive after speaking to Block management about various funding sources across its lending portfolio. Parsons — The defense technology company slashed its fiscal year 2025 revenue outlook, saying the State Department's reorganization has created added uncertainty surrounding a confidential contract. Shares fell 2%. — CNBC's Alex Harring, Sarah Min and Michelle Fox contributed reporting.
CNBC
3 days ago
- Business
- CNBC
Asia-Pacific markets set to fall after Trump says he plans to double steel tariffs to 50%
People walking through the neon lit night streets of Sinchon in the heart of Seoul, South Korea's vibrant capital city. Fotovoyager | E+ | Getty Images Asia-Pacific markets were set to fall after President Donald Trump told U.S. steelworkers late Friday that he will double tariffs on steel imports to 50% with effect from Wednesday. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 37,650 while its counterpart in Osaka last traded at 37,680, against the index's last close of 37,965.1. Futures for Hong Kong's Hang Seng index stood at 22,901, lower than its last close of 23,289.77. China, Malaysia and New Zealand markets are closed for the holidays. "We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America," Trump said during remarks at U.S. Steel's Irvin Works in West Mifflin, Pennsylvania, adding that the steep tariffs would "further secure the steel industry." Trump also posted on Truth Social that the steel tariffs will start on June 4. U.S. stock futures fell as Wall Street looks to the start of a new month of trading following a strong performance in May. S&P 500 futures traded down 0.3%, along with Nasdaq-100 futures. Futures tied to the Dow Jones Industrial Average also declined 108 points, or 0.3%. Last Friday, the three major averages closed mixed. The S&P 500 was little changed on Friday to close out a big winning month, inching down by 0.01% to end at 5,911.69. The Nasdaq Composite slid 0.32% to 19,113.77, while the Dow Jones Industrial Average added 54.34 points, or 0.13%, to finish at 42,270.07. — CNBC's Brian Evans and Alex Harring contributed to this report. The S&P 500 finished Friday's rocky session session near flat. The broad index ended slightly below its flatline. The Dow closed up 0.1%, while the Nasdaq Composite ticked down 0.3%. — Alex Harring
CNBC
28-05-2025
- Business
- CNBC
Asia-Pacific markets set to mostly climb as investors await Bank of Korea decision
Hongdae street in Seoul city, South Korea Twenty47studio | Moment | Getty Images Asia-Pacific markets were set to mostly climb Thursday as investors look toward the Bank of Korea decision. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,350 while its counterpart in Osaka last traded at 37,840 against the index's last close of 37,722.4. Futures tied to Australia's S&P/ASX 200 index stood at 8,430, pointing to a higher open than its last close of 8,396.9. Hong Kong markets are poised to slip slightly with futures tied to the Hang Seng index at 23,132, compared to the benchmark's last close of 23,258.31. Investors are expected to keep an eye on the outcome of the Bank of Korea's meeting decision, as well as Asian chip stocks, after Nvidia posted stronger-than-expected earnings and revenue on Wednesday, driven by a 73% year-over-year surge in its data center business. U.S. futures rose Wednesday night, buoyed by a strong earnings report from artificial intelligence heavyweight Nvidia. Futures tied to the S&P 500 rose 0.8%, while Nasdaq 100 futures gained 1.2%. Dow Jones Industrial Average futures added 206 points, or 0.5%. Overnight, the three major stock averages closed lower as investors parsed the latest earnings reports and Federal Reserve meeting minutes. The S&P 500 slid 0.56% to end at 5,888.55, while the Nasdaq Composite shed 0.51% and settled at 19,100.94. The Dow Jones Industrial Average fell 244.95 points, or 0.58%, and closed at 42,098.70. — CNBC's Alex Harring, Sarah Min and Pia Singh contributed to this report The three major indexes concluded Wednesday's session in the red. The Dow and S&P 500 each finished around 0.6% lower. The Nasdaq Composite ended down 0.5%. — Alex Harring
CNBC
27-05-2025
- Business
- CNBC
Asia-Pacific markets set to mostly climb, tracking gains on Wall Street after EU tariff delay
A HDR evening shot taken at sunset of the Tokyo skyline. Fgm | E+ | Getty Images Asia-Pacific markets were set to mostly climb Wednesday, tracking Wall Street gains on investor optimism after U.S. President Donald Trump extended the deadline for a 50% tariff on European Union imports until July 9. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,320 while its counterpart in Osaka last traded at 38,300 against the index's last close of 37,724.11. Futures tied to Australia's S&P/ASX 200 index stood at 8,488, pointing to a higher open than its last close of 8,407.6. Hong Kong markets are poised to slip slightly with futures tied to the Hang Seng index at 23,328, compared to the benchmark's last close of 23,381.99. Australia is set to report its consumer price index later in the day, and the Reserve Bank of New Zealand is stipulated to release its monetary policy statement. U.S. futures are little changed as investors awaited earnings results from Nvidia and the minutes from the Federal Reserve May meeting, due out Wednesday afternoon U.S. time. Overnight, the three major stock averages closed higher. The Dow Jones Industrial Average gained 740.58 points, or 1.78%, to finish at 42,343.65, while the S&P 500 rose 2.05% to 5,921.54. Both snapped four-day losing streaks. The Nasdaq Composite popped 2.47% to 19,199.16 as technology names like Tesla saw outsized gains. — CNBC's Alex Harring and Lisa Kailai Han contributed to this report. The three major indexes finished Tuesday's session in the green, snapping four-day losing streaks for the S&P 500 and Nasdaq Composite . The S&P 500 added around 2.1%, while the Nasdaq jumped 2.5%. The Dow climbed more than 700 points, or 1.8%. — Alex Harring
CNBC
21-05-2025
- Business
- CNBC
Asia-Pacific markets set to fall, tracking declines on Wall Street
Buildings in Auckland, New Zealand, on Monday, May 22, 2023. Bloomberg | Bloomberg | Getty Images Asia-Pacific markets were set to fall on Thursday, tracking declines on Wall Street. Japan's benchmark Nikkei 225 is set to open lower with the futures contract in Osaka last trading at 36,840 against the index's last close of 37,298.98. Australia's benchmark S&P/ASX 200 is also set to fall, with futures standing at 8,326, lower than the index's last close of 8,386.8. Futures for Hong Kong's Hang Seng index stood at 23,640, lower than its last close of 23,827.78. Investors will be looking out for the unveiling of New Zealand's 2025 budget. Stock futures were flat in overnight trading Wednesday following a sizable sell-off on Wall Street as worries about a ballooning deficit deepened. Futures on the Dow Jones Industrial Average dipped 60 points. S&P 500 futures and Nasdaq 100 futures were both little changed. Overnight stateside, the three major averages closed lower. Stocks sold off, pressured by a sharp spike higher in Treasury yields as traders grew worried that a new U.S. budget bill would put even more stress on the country's already large deficit. The Dow Jones Industrial Average lost 816.80 points, or 1.91% to 41,860.44. The S&P 500 shed 1.61% to 5,844.61. The Nasdaq Composite slid 1.41% to 18,872.64. The 30-year Treasury bond yield last traded around 5.09%, touching the highest level going back to October 2023. The benchmark 10-year Treasury note yield traded at 4.59%. — CNBC's Lisa Kailai Han and Alex Harring contributed to this report. Stocks closed lower Wednesday afternoon. The Dow Jones Industrial Average lost 816.80 points, or 1.91% to 41,860.44. The S&P 500 shed 1.61% to 5,844.61. The Nasdaq Composite slid 1.41% to 18,872.64. — Sarah Min Romain Costaseca | Afp | Getty Images Bitcoin broke through its January high-water mark to set a new record above $109,000 on Wednesday, helping fuel a rally in crypto-related stocks. Shares of Coinbase were up 2.7% on the day, while brokerage stock Robinhood climbed 1.5%. MARA Holdings jumped more than 4%. Bitcoin's high for the day is $109,500, according to Coin Metrics. Stock chart icon Bitcoin hit a record high on Wednesday.
