Nordstrom — Nordstrom shares jumped more than 8% in the premarket after the retailer posted quarterly earnings that easily beat expectations. The company reported a profit of 81 cents a share, while analysts polled by Refinitiv expected earnings per share of 64 cents. That price target implies a 25% upside from Thursday’s close of $184.86. The price target implies a 28.7% upside from Thursday’s close of $69.92. Ross Stores — Ross Stores reported earnings per share of $1.03 on revenue of $3.85 bi

Uber co-founder and director Travis Kalanick’s massive November sell-off of stock in his former company is nearing $1.5 billion. Kalanick has sold a total of $1.456 billion in Uber stock so far. The latest sale leaves the 43-year-old entrepreneur with fewer than 45 million shares in the company. The company’s market value is now about $50 billion, down from nearly $70 billion at the end of its first trading day. Co-founder Garrett Camp has sold about $20 million in shares this month, according t

In an interview with The Associated Press, Barr said his concerns were prompted by the numerous irregularities at the Manhattan jail where Epstein was being held. The attorney general also sought to dampen conspiracy theories by people who have questioned whether Epstein really took his own life, saying the evidence proves Epstein killed himself. He added that he personally reviewed security footage that confirmed that no one entered the area where Epstein was housed on the night he died. The Ju

Energy has been the worst-performing S&P 500 sector in 2019, with over half of the stocks in the Energy Select Sector SPDR Fund (XLE) now more than 20% off their highs and technically in bear market territory. Some strategists are steering clear of the group, while others see the pain as a low-cost opportunity. First, he took a look at the stock of Valero Energy, the world’s biggest independent petroleum-refining company. “Now we’re coming back to retest support. “[The] stock has broken out, it’

The online real estate resource site narrowed down the top 100 most expensive U.S. ZIP codes based on median home sale prices by analyzing transactions for condos, co-ops and single- and two-family homes made between Jan. 1, 2019 and Nov. 5, 2019. In 2019, California contributed 91 of the top 100 most expensive ZIP codes, and all 100 of them fell within just 11 states (with ties, 125 ZIP codes were included in the ranking). When it comes to home prices, San Francisco alone holds 13 of the highes

Stifel said in its upgrade of Uber that the stock’s valuation presents a more “reasonable” entry point among other things. “The ridesharing market (particularly in the U.S.) experienced faster-than-expected competitive rationalization, Uber demonstrated an accelerated path to profitability and set a formal 2021 profitability target, take rates improved, better segment-level disclosure leaves us more constructive on the core Rides fundamentals, management has communicated a willingness to exit lo

While streaming platform Disney+ is off to a strong start, Wall Street analysts are not shying away from Netflix’s stock. In the week following Disney+’s launch, Netflix app downloads grew 4% year-over-year, Nomura Instinet noted, showing that Disney+ is not having a negative impact on Netflix’s growth potential. “While we have observed rising interest in Disney +, due to increasing awareness as the service is now live, we have not seen an increase in the percentage of Netflix subscribers who ex

Tobacco executives, vaping industry representatives and public health leaders are scheduled to meet with President Donald Trump on Friday at the White House. Altria CEO Howard Willard and Reynolds American President and Chief Commercial Officer Joe Fragnito, executives of the two largest tobacco companies in the U.S., plan to attend. A number of public health leaders — including Campaign for Tobacco-Free Kids President Matt Myers, American Academy of Pediatrics President-elect Sally Goza and Ame

The battle between Taylor Swift and music industry executives Scooter Braun and Scott Borchetta continues. Braun, Big Machine Record Label executive and founder of media company SB Projects, broke his silence on the back and forth in a Q&A at the 2019 Entertainment Industry Conference Thursday. “Since your public statement last week there have been numerous death threats directed at my family,” the post read. “As the world now knows you can and should perform any song you would like at the AMAs,

Tesla CEO Elon Musk unveiled the electric car maker’s first pickup on Thursday night and Wall Street analysts were highly critical of the truck’s dramatic styling. “Tesla’s Cybertruck looks weird … like, really weird. Musk had warned investors that Tesla’s pickup would be ‘really futuristic, like cyberpunk Blade Runner,’ and he wasn’t kidding,” Bernstein analyst Toni Sacconaghi wrote in a note to investors titled “Mad Musk, Fury Road.” Yet skeptical Tesla analysts don’t expect Cybertruck will be

Tuna maker Bumble Bee Foods said Thursday that it has filed for Chapter 11 bankruptcy protection, with an agreement from Taiwan-based FCF Fishery, its largest creditor, to purchase its assets for roughly $925 million. The bankruptcy proceedings are meant to reduce Bumble Bee’s debt burden caused by “recent and significant legal challenges” and help facilitate the sale. In addition to its legal troubles, Bumble Bee is grappling with the declining popularity of packaged tuna. London-based private-

China’s President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017. President Donald Trump on Friday said that a long-negotiated trade deal with China is “potentially very close” following reports that an agreement might not be reached until next year. “The bottom line is, we have a very good chance to make a deal,” Trump said. Chinese President Xi Jinping said Friday that Beijing wants a deal “on the basis of mutual

Consumer sentiment unexpectedly rose in November, according to data released Friday by the University of Michigan. The university’s index of consumer sentiment climbed to 96.8 from 95.5 last month. Economists polled by Dow Jones expected consumer sentiment to dip to 94.9 for November. An index reflecting consumer expectations moving forward also rose to 87.3 from 84.2 in October. Richard Curtin, chief economist at the Surveys of Consumers, said consumer sentiment has not been at 95 or higher in

Glidden told reporters on a conference call Wednesday that the lawsuit has no bearing on the ongoing merger discussions between Fiat Chrysler and PSA Group. He also said that the lawsuit won’t affect existing collective bargaining agreements, and that there are no current allegations against Fiat Chrysler CEO Michael Manley. Fiat Chrysler is the last of the three Detroit automakers to have to bargain with the union. “Fiat Chrysler was already going to be a nightmare just because of all the diffe

Airbnb exec Belinda Johnson speaks onstage during Universal Belonging at The Theatre at Ace Hotel during Airbnb Open – Day 2 on November 18, 2016 in Los Angeles, California. Belinda Johnson announced that she is stepping down as COO Friday in an email to staff viewed by CNBC. Sometimes it’s the first question, sometimes it’s the last, but it is always asked,” Johnson wrote in the email. Before taking the COO role, she served as chief business affairs and legal officer and steered Airbnb through

The largest hedge fund in the world has reportedly staked more than $1 billion that global equity markets will fall during the next three months. The firm paid about $1.5 billion for the contracts, about 1% of Bridgewater’s $150 billion in total assets under management, the report said. “Though we won’t comment on our specific positions we do want to make two things clear,” Bridgewater said in a statement to CNBC. “Second, we have no positions that are intended to either hedge or bet on any pote

Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the United States but is not afraid to “fight back.” Reinforcing the upbeat tone adopted by China in recent days, Xi told a visiting U.S. business delegation that China holds a ‘positive attitude’ toward the trade talks. “As we always said we don’t want to start the trade war but we are not afraid,” Xi said. “We want to work for a Phase 1 agreement on the basis of mutual respect and equality,” Xi told the g

A U.S. bill aiming to protect human rights in Hong Kong is unlikely to disrupt trade talks between Washington and Beijing, said Amy Celico, principal at Albright Stonebridge Group. “I don’t think it’s enough of an issue to derail the trade talks,” she told CNBC’s Sri Jegarajah at the Morgan Stanley APAC Summit. The “Hong Kong Human Rights and Democracy Act” cleared both chambers of Congress this week as Hong Kong remains engulfed in mass protests. The bill would require the U.S. State Department

The theme was prevalent throughout the conference as experts discussed China’s support for blockchain, financial technology and 5G. 5GThe technology rivalry between the U.S. and China has centered around the development of next generation mobile services 5G, with Chinese tech giant Huawei in particular focus. Huawei, a key developer of super-fast 5G technology, was blacklisted by the U.S. government in May. The Chinese tech giant has consistently denied those claims. In comparison, 5G services i