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Economy
Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales
Jakub Porzycki | Nurphoto | Getty ImagesPfizer on Wednesday reported first-quarter revenue and adjusted profit that beat expectations and hiked its full-year profit outlook,…
Trump campaign lawyers’ bid to withdraw from discrimination case gets closed-door hearing
Presidential candidate Donald Trump gestures in a press conference unveiling his comprehensive tax reform plan at Trump Tower. Andy Katz | Lightrocket | Getty ImagesA federal judge…
Carvana shares spike 30% as used car retailer posts record first quarter
Vehicles are seen on display at a Carvana dealership in Austin, Texas, on Feb. 20, 2023.Brandon Bell | Getty ImagesShares of Carvana popped more than 30% during after-hours trading…
Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald’s
It's finally here: the long-predicted consumer pullback.Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday.…
Private payrolls increased by 192,000 in April, more than expected for resilient labor market
Private payrolls increased at a faster-than-expected pace in April, indicating there are still plenty of tail winds for the U.S. labor market, according to ADP.A separate report…
Live updates on May Fed rate decision
Federal Reserve leaves interest rates unchangedCentral bank policymakers held steady on interest rates at the conclusion of their meeting, a move that was widely expected by the…
Stocks making the biggest moves midday: Super Micro Computer, Starbucks, Pfizer and more
Check out the companies making headlines in midday trading: New York Community Bank — Shares of the beaten-down regional bank popped more than 31% after CEO Joseph Otting said in a…
Jim Cramer’s top 10 things to watch in the stock market Wednesday
My top 10 things to watch Wednesday, May 1 Wall Street begins May under pressure after a terrible April that broke five straight months of gains. ADP's monthly report on hiring at…
Why hundreds of U.S. banks may be at risk of failure
Hundreds of small and regional banks across the U.S. are feeling stressed."You could see some banks either fail or at least, you know, dip below their minimum capital…
BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
The BlackRock logo is displayed at the company's headquarters in New York City on Nov. 14, 2022.Leonardo Munoz | Getty ImagesAsset manager BlackRock will launch an investment…