Salesforce said Thursday it will move its Marketing Cloud service to Microsoft’s Azure public cloud, putting aside the rivalry between the two companies. Microsoft’s share of the public cloud market remains smaller than market leader Amazon Web Services but has gained wider adoption from customers under CEO Satya Nadella. They compete in multiple areas, including Salesforce’s core business of customer relationship management: Salesforce has the Sales Cloud and Microsoft fields the less popular D

Stifel CEO Ron Kruszewski on trade, markets, wealth tax and moreRonald Kruszewski, chairman, president and CEO at Stifel and a member of the Federal Advisory Council, joins “Squawk Box” to discuss the U.S. economy, Fed’s monetary policy, trade and more

Comparable sales were up 3.2 percent, beating estimates and rising for the 21st straight quarter. Viacom – The media company beat estimates by 4 cents with adjusted quarterly profit of 79 cents per share, with revenue also beating estimates. Canopy Growth – The Canadian cannabis producer reported a wider than expected loss for its latest quarter, hit by restructuring charges. Cisco Systems – Cisco beat estimates by 3 cents with adjusted quarterly profit of 84 cents per share, with the networking

In a potentially historic marriage of supercomputing and big data, IBM goes live Thursday with a global weather model that it says can provide far more accurate forecasts for the entire world. IBM says its new supercomputer, DYEUS, built just to run the model, will issue 12 trillion pieces of weather data every day and process forecasts every hour, while many global weather models update only every six to 12 hours. IBM became a leading player in meteorology in 2015 when it purchased The Weather

Christian Liriano is glued to his phone these days, anxiously awaiting any news on whether the Trump administration will ban flavored e-cigarettes. Liriano, 27, owns a vape shop called Vape Hangar in Jacksonville, Florida. Vape shop owners pride themselves in helping people quit smoking. For vape shop owners, such a ban would mean they would need to close or fill their stores with other products. Vape shop owners and e-cigarette users have been pushing hard against banning flavors, saying it wou

Tim Cook at the Apple launch event in Cupertino Calif. on Sept. 10th, 2019. Here are the biggest calls on Wall Street on Thursday:Maxim downgraded the stock and said iPhone sales would be lower than expected in 2020. “We are downgrading shares of AAPL to Sell, from Hold, and establishing a price target of $190, representing 28% downside, based on a sum-of-the-parts analysis. On pages 2-5, we present our most recent proprietary survey data, based on which we expect FY20E (Sept) iPhone units to de

PNC Financial’s Amanda Agati believes stocks have more room to run to fresh all-time highs, but she doesn’t expect an easy run. “The challenge going forward is that all-important month of December,” Agati told CNBC’s “Trading Nation” on Wednesday. “It’s going to be a busy calendar month certainly with the next round of tariffs going into effect mid-month, a U.K. general election coming and certainly impeachment-related news.” Agati estimates the S&P 500 could rise another 3% to 4% by year-end, t

The number of Americans filing applications for unemployment benefits rose to a five-month high last week, but this likely does not signal a shift in labor market conditions as claims for several states were estimated because of Monday’s holiday. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 225,000 for the week ended Nov. 9, the highest reading since June 22, the Labor Department said on Thursday. The Labor Department said claims for California, Hawaii

The big-box retailer said Thursday its e-commerce sales were up 41% during the latest quarter, thanks to a strong grocery business. “We’re making progress on many fronts, but we need to do more and move faster, especially with our assortment including marketplace,” CEO Doug McMillon said in a statement. “Our strength is being driven by food, which is good, but we need even more progress on Walmart.com with general merchandise. We’re committed to progress and building a larger, healthier eCommerc

Facebook has signed a lease at Hudson Yards for more than 1.5 million square feet of office space and plans to move into the new offices next year. The lease includes office space across 30 floors and three buildings in the far West Side neighborhood, Hudson Yards announced Thursday. The lease includes 1.2 million square feet of space at the 1,000-foot-tall tower 50 Hudson Yards, 265,000 square feet in 30 Hudson Yards as well as 57,000 square feet in 55 Hudson Yards. “Hudson Yards offered this a

Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell testifies Thursday on the state of the U.S. economy before the House Budget Committee. Following a cut in late October, the Fed’s benchmark lending rate is in a targeted range between 1.5% and 1.75%. That comes as the result of three rate reductions this year that followed four increases the previous year. In addition to speaking about rates, Powell also said Wednesday that he doesn’t c

Free trading is paying off for brokerage firm Charles Schwab. In the same month the firm dropped trading commissions, Schwab added 142,000 new brokerage accounts, 31% more than the number of new clients added in September and a 7% jump from October of last year. Last month, Schwab stopped charging commission fees for U.S. stocks, ETFs and options trades. Rival brokerage firms E-Trade, Interactive Brokers and TD Ameritrade all experienced increased trading in October, noted Repetto, but none of t

Uber co-founder and director Travis Kalanick sold about $164 million worth of stock this week, after a half a billion dollar sale last week. When Uber’s 180-day restriction on inside and early investor sales ended last week, Kalanick was among the wave of sellers that drove the stock down. Kalanick sold an additional $164 million in shares over a three-day period this week, according to a financial filing submitted to the SEC on Wednesday. Uber’s stock has plummeted to less than $27 per share as

The longest bull market in history is also the best ever. The S&P 500, which eked out a record closing high on Wednesday, has soared 471% in this epic run. Source: The Leuthold GroupThe bull market from 1949 to 1956 scored a 454% gain for the S&P 500, the second biggest return in recent history, the firm said. The explosive bull run in the 1990s saw the S&P 500 rally 391%, while the bull market of 2002–2007 pulled off a 121% gain for the benchmark, according to The Leuthold Group. “I’ve referred

While a statement like this may be common among Wall Street’s bullish Tesla analysts, Credit Suisse remains one of the company’s skeptics. Credit Suisse has had an underweight rating on Tesla shares since the firm began covering the stock in June, with a $200 price target. “Yet to the extent Tesla continues to struggle with the basic ‘blocking and tackling’ of the auto business (i.e., manufacturing, delivery logistics, service), it risks not capitalizing on this opportunity,” Levy said. Credit S

Instead of his current net worth of $160 billion, Amazon CEO Bezos’ fortune would only be worth $52.2 billion had Sanders’ plan been adopted in 1982, according to the website. Bezos would pay about $9 billion in taxes this year alone under Sanders’ proposed wealth tax, more than the net worth of the 50 richest Americans as listed by Forbes. If lawmakers approved his wealth tax, the new levies would halve billionaires’ wealth in 15 years, provided all other factors (like their stock prices or bus

Apple CEO Tim Cook is about to take a victory lap, and President Donald Trump will be following along. Cook and Trump are expected to soon tour a factory in Texas where Apple will be assembling the new Mac Pro, Reuters reported Tuesday. The same goes with Trump’s tour of the Mac Pro factory. It doesn’t matter that the Mac Pro is a minor product for Apple. Trump gets his headline that Apple is building stuff in the U.S.

Earning a college degree is one of the most expensive investments Americans make. Each year, millions of students pay thousands of dollars and take on piles of debt with the understanding that their investment will pay off. Researchers found the median “net present value” for all colleges 10 years after enrollment is $107,000. By 40 years after enrollment, as wages rise throughout graduates’ careers, that net present value reaches $723,000. As CEW researchers put it, “Net present value can be su

Valerie Jarrett knows she’s better at her job when she works with people she can get to know personally. It’s why she hired a then-engaged Michelle Robinson (who after marriage became Michelle Obama) to join the Chicago Mayor’s office in 1991. “When I worked in the White House, the women in the White House started having dinner with one another,” Jarrett tells CNBC Make It. This kind of camaraderie may have helped women succeed in the Obama White House, who were noticeably in the minority during

This story is part of CNBC Make It’s Millennial Money series, which profiles people around the world and details how they earn, spend and save their money. “One day, my dad decided to take all the money,” Ariza tells CNBC Make It. Her house, aggressive savings rate and multiple income streams are meant to ensure that she won’t have to. “The house is something that costs money, but I want to see if I can go ahead and just make it produce money for me.” Miscellaneous: $365Each month, Ariza pays $5