Nike earned 70 cents per share on revenue of $10.33 billion, topping the earnings of 58 cents per share and revenue of $10.09 billion Wall Street expected, according to Refinitiv. Smart Global shares fell 3% during extended trading after the parent company of chipmaker SMART Modular Technologies reported a first-quarter earnings miss. For the second quarter, the company expects adjusted earnings between 45 cents to 55 cents per share and revenue between $265 million to $275 million. Analysts had

Stocks rallied to record highs on Thursday a day after Trump became the third president to be impeached by the House. Libby Cantrill, head of public policy at Pimco, says impeachment could still impact the markets. I think they’re going to start to accelerate and that could bring another run again because the one negative all year has been decelerating earnings or flattish earnings trends.” We’re very bullish on the market right now and I think it’s for reasons that we’ve been talking about all

The way to start, according to CNBC’s Jim Cramer, is a process called a “read-through.” To illustrate the process, Cramer took a look at two of the best read-throughs of Thursday’s session, which saw all three major averages again close at record highs. With Micron, President and CEO Sanjay Mehrotra has been a straight shooter about both the good and bad facing the company, Cramer said. So when Mehrotra says the current quarter is the “trough” for the business, you can believe him, Cramer said.

If you filed for a cash payout from Equifax as part of the credit bureau’s settlement for its massive 2017 data breach, you’re probably not getting anywhere close to $125. On Thursday, Dec. 19, a Georgia federal judge awarded $77.5 million to the attorneys representing the class of consumers against Equifax. It’s also one more reason why the consumers who sought a cash settlement from Equifax won’t be getting the full $125 as initially expected. In fact, consumers were never going to get $125, s

Throughout the year, CNBC’s Jim Cramer has characterized the latest class of initial public offerings as a thorn in the stock market. Levi Strauss & CoAfter going private for more than three decades, iconic jeans brand Levi’s in May relisted on public markets. Cramer initially recommended it as a buy at about $18 a share in late July, but the stock dropped to almost $16 in mid-August. “At this point, I think Levi’s is still worth buying,” Cramer said. Until something goes wrong or the stock goes

The S&P 500 continued its strong run Thursday, topping the 3,200 level for the first time, but one major strategist said the market may be going too far. Jack Manley, global market strategist for JP Morgan Asset Management, said in the Market Zone on CNBC’s “Closing Bell” that investors may be too optimistic about recent developments in the trade negotiations between the United States and China and the elections in the United Kingdom. There’s a whole lot more to do out there, and I do think mark

Nike’s growth on its home turf in North America came in slightly weaker than expected. That was better than the 58 cents analysts were expecting, based on Refinitiv data. Revenue was up about 10% to $10.33 billion from $9.37 billion a year ago, beating expectations for $10.09 billion. It said online sales surged more than 70% in North America on Black Friday. Nike said footwear sales in North America, excluding any impacts from currency changes, were up 8% during the latest period, while apparel

The House passed a new North American trade deal on Thursday, ending a more than year long slog to iron out Democratic concerns about the agreement. Most Republicans and Democrats have praised the latest version of the three-nation deal, which replaces the North American Free Trade Agreement. Even before the House passed the agreement, Trump started to bill it as a political win as he campaigns for reelection in 2020. She cheered the trade deal and said it took time because “we weren’t going for

Democratic presidential hopefuls, Mayor of South Bend Pete Buttigieg (L), Massachusetts Senator Elizabeth Warren (C) and former Vice President Joe Biden, arrive onstage for the fifth Democratic primary debate of the 2020 presidential campaign season co-hosted by MSNBC and The Washington Post at Tyler Perry Studios in Atlanta, Georgia on November 20, 2019. Seven 2020 Democratic presidential candidates will take the debate stage together on Thursday night with a little more than a month until prim

During Stone’s trial, former top Trump campaign official Rick Gates testified that Trump talked to Stone about WikiLeaks during the 2016 campaignGates testified that less than a minute after finishing a July 2016 call from Stone, Trump indicated that “more information would be coming” from Wikileaks. That testimony contrasted with Trump’s claim last November that he did not recall speaking to Stone about WikiLeaks. In a written response to Mueller in November 2018, Trump had said, “I do not reca

And politicians are using the opportunity to help fix the pensions and health-care benefits for one group of workers: coal miners. The measure would help ensure that the 1974 United Mine Workers of America Pension Plan won’t become insolvent. The measure, if passed, would represent a much bigger change compared to the miners’ legislation. Chuck Grassley, R-Iowa, and Lamar Alexander, R-Tenn., last month put forward their own proposal to help shore up multiemployer pension plans. It also proposes

Getty ImagesAmid the political noise in Washington, D.C., wealthy investors are going with an asset class they know best: real estate. TIGER 21, an organization of about 750 people with at least $10 million to invest, stands for The Investment Group for Enhanced Results in the 21st Century. Low interest rates have made real estate more attractive, according to Michael Sonnenfeldt, founder of TIGER 21. Rather than pouring $1 million into any one private equity entity, these investors might make 2

Volkswagen, Volvo and others have discussed plans for autonomous vehicles or services but have not given exact details on timing. GM, Volkswagen, Nissan and others have announced plans to sell 1 million all-electric vehicles or more globally a year during the 2020s. It has since lowered those expectations to 4.4 million vehicles, up from an expected 2.6 million in 2019. Lack of charging infrastructure, lower-than-expected gas prices and battery costs all contribute to the lackluster sales of all

Lasry and Effron were members of Harris’ finance committee, which included other Wall Street players such as Frank Baker, co-founder of Siris Capital Group. Lasry and Effron are the latest Wall Street figures to back Biden. The support of Lasry and Effron comes at a crucial time for Biden. Lasry and Effron were marquee fundraisers for former President Barack Obama and Democratic candidate Hillary Clinton. Lasry, Effron and a spokesman for Biden did not return a request for comment.

Getty ImagesThe merger market for technology firms slowed down in 2019 as buyers, heeding Warren Buffett’s warnings about high stock prices raising risks, backed off from many deals. Berkshire Hathaway chairman and CEO Warren Buffett is sitting on roughly $130 billion in cash specifically because he said the current stock market and bidding on acquisition targets has made deals too expensive. The biggest was the $35 billion deal between FIS and Worldpay, followed by the $27 billion deal by the L

“Cats” seemed to have it all — a stellar cast, memorable music from a Tony Award-winning Broadway show and the careful guidance of acclaimed director Tom Hooper. “Oh God, my eyes,” Ty Burr, a writer for the Boston Globe, wrote in his review of the film. “You’ve heard of the ‘uncanny valley’ effect?” The digital era has given us many examples of the uncanny valley, but ‘Cats’ is the first movie to entirely set up shop there.” Currently, the film holds a 17% “Rotten” score on review site Rotten To

The Mustang is one of Ford’s crown jewels and perhaps one of the most significant cars of all time. But now the Mustang name is about to enter an entirely new era, and not everyone is happy about it. But Mustang sales have fallen off a cliff since the car’s most recent redesign in 2015. BMW’s sport utility vehicles, for example, made up 37.3% of the brand’s sales in 2018, an increase over the 33.8% in 2017. Automakers are frenetically making electric vehicles to both comply with increasingly str

That represents a 3.7-month supply at the current sales pace, down from a 4-month supply a year ago. Supply is leanest on the low end, where demand is strongest. Supply is only growing on the high end of the market, where demand is weakest. The housing shortage has reignited home prices, which had been cooling last year and into the first months of this year. “At the very high end there is supply, but there are not many buyers at the very high end of market.”

The biggest legislative changes to America’s retirement system in 13 years are on their way. “The Secure Act has been years in the making,” said Paul Richman, chief government and political affairs officer at the Insured Retirement Institute. It also would raise the age when required minimum distributions, or RMDs, from certain retirement accounts must start to 72, up from 70½. Additionally, the measure aims to allow more annuities in 401(k) plans by eliminating companies’ fear of legal liabilit

Holz said Obamacare remains an overhang on the sector, “although we can deal with the clouds as opposed to the appeals court having more issues with Obamacare as it’s currently designed.” The appeals court, in its ruling, did declare the individual mandate provision in Obamacare unconstitutional, arguing it can “no longer be read as a tax,” siding with the lower court judge. Steven Halper, a senior health-care analyst at Cantor Fitzgerald, said in a note to clients Thursday that health-care stoc