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cnbc.com
CNBC is an American pay television business news channel that is owned by NBCUniversal Broadcast, Cable, Sports and News, a division of NBCUniversal, with both being ultimately owned by Comcast.Source
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Netflix shares see their biggest jump in four years

Netflix shares see their biggest jump in four years

Key Points stock soared as much as 18% Wednesday to trade at an all-time high, a day after the company revealed in its report that it was stock buybacks and had surpassed 200 million subscribers for the first time.It's the largest jump since the company's stock closed up 19% on October 18, 2016. The stock closed up16.8% on Wednesday. "We've gone from a historical bear on NFLX to a card-carrying bull," analysts said Wednesday in a note to clients. The firm also upgraded its price target to $700 per share, up from $510. At least 15 other firms also hiked their price targets.The video...

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Jessica Bursztynsky
13h ago
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Stocks making the biggest moves after hours: Netflix, Interactive Brokers and Zions

Stocks making the biggest moves after hours: Netflix, Interactive Brokers and Zions

Check out the companies making headlines after the bell:  — Shares of the media streaming giant soared more than 10% in extended trading after the company Netflix handily beat estimates for global paid net subscriber additions, reporting 8.5 million versus the 6.47 million analysts anticipated, according to StreetAccount. Netflix also beat estimates for revenue but earnings per share came below expectations. — Shares of the e-broker popped more than 1% in after-hours trading after the company beat on the top and bottom lines in its quarterly results. Interactive Brokers reported adjusted...

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29d ago
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Dr. Fauci to lead U.S. delegation at WHO meetings as Biden plans to reverse Trump withdrawal

Dr. Fauci to lead U.S. delegation at WHO meetings as Biden plans to reverse Trump withdrawal

Key PointsPresident-elect has picked Dr. Anthony Fauci to lead a U.S. delegation at the World Health Organization's annual meetings this week, reversing outgoing President Donald Trump's plan to withdraw from the international aid group.The new administration plans to work with the WHO on an international Covid response plan as one of Biden's first major policy changes, the transition team announced hours before his inauguration Wednesday.Fauci will deliver remarks to WHO on Thursday at its annual executive board meetings, according to Biden's transition team."Once the United States resumes...

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Noah Higgins-Dunn
13h ago
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GOP pollster: Biden will struggle to unify U.S., middle ground post-Trump 'doesn't exist'

GOP pollster: Biden will struggle to unify U.S., middle ground post-Trump 'doesn't exist'

Key PointsGOP pollster breaks down what Americans think of Biden's policiesRepublican pollster Frank Luntz told CNBC on Wednesday there are sharp political differences between Americans that will make finding compromise in Washington a challenge under the incoming Biden administration."It's going to be very tough for the president and Congress to find that middle ground because, quite frankly, it doesn't exist," Luntz said on a few hours before President-elect is sworn into office.Luntz's comments followed a virtual focus group he hosted Tuesday night with more than a dozen Americans across...

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Kevin Stankiewicz
12h ago
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DOJ will not criminally charge Sen. Richard Burr for stock trades he made after getting Covid intelligence

DOJ will not criminally charge Sen. Richard Burr for stock trades he made after getting Covid intelligence

Key PointsThe Justice Department will not criminally charge Sen. Richard Burr in connection with stock trades that the North Carolina Republican executed on the heels of being briefed about Covid-19 last year, shortly before the coronavirus pandemic rocked the U.S. economy. and led to his f the powerful Senate Intelligence Committee that same month."Tonight, the Department of Justice informed me that it has concluded its review of my personal financial transactions conducted early last year," Burr said in a statement Tuesday night."The case is now closed. I'm glad to hear it. My focus has...

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Dan Mangan
24d ago
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Pfizer-BioNTech vaccine found to be effective against Covid variant discovered in UK

Pfizer-BioNTech vaccine found to be effective against Covid variant discovered in UK

Key PointsLONDON — The coronavirus vaccine developed by - is likely to be just as effective against a highly transmissible mutant strain of the virus that was first discovered in the U.K., according to a study by the two companies.The variant, known as B.1.1.7., was estimated to have first emerged in the U.K. in September 2020. It has an unusually high number of mutations and is associated with more efficient and rapid transmission.The characteristics of the variant had led to concerns about the effectiveness of Covid vaccines against it.However, research on preprint server bioRxiv showed...

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Sam Meredith
16h ago
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Biden's incoming CDC director says Trump administration has 'muzzled' scientists: 'I have to fix that'

Biden's incoming CDC director says Trump administration has 'muzzled' scientists: 'I have to fix that'

Key PointsScientists at the Centers for Disease Control and Prevention who were sidelined by the Trump administration during the Covid-19 pandemic will "get heard again," Dr. Rochelle Walensky, President-elect 's pick to lead the agency, said Tuesday.Last year, the CDC went months without addressing the U.S. public after Dr. Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases, ."We are asking the American public to work with us to prepare for the expectation that this could be bad," Messonnier said in prescient remarks that sent markets reeling...

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Will Feuer
31d ago
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Netflix will consider buybacks as it returns to positive cash flow after 2021

Netflix will consider buybacks as it returns to positive cash flow after 2021

Key PointsTom Rogers breaks down Netflix's earningsNetflix said Tuesday it plans to be cash-flow neutral this year and cash-flow positive every year after 2021, and will no longer need external financing to fund its operations, ending a decade-long trend and vindicating investors who have plowed money into the company despite its cash-burning ways.Netflix also said it will consider share buybacks, a practice it hasn't done since 2011 — the last time the company was cash-flow positive. The announcement came as part of , where the company also announced EPS of $1.19 on revenues of $6.64...

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Alex Sherman
30d ago
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Biden looks to give a big boost to homebuyers and builders

Biden looks to give a big boost to homebuyers and builders

Key PointsAnyone looking to buy a home today is likely frustrated by sky-high prices and slim pickings. But President-elect , who takes office Wednesday, will aim to ease those issues as he gears up to implement his plans for the housing market.From home financing to home construction, Biden's plans are focused on affordability. Here are some policies he could push for:In December, the number of homes for sale plummeted nearly 40% compared with December 2019, according to realtor.com. Competition for what was on the market was fierce, with the typical home selling in just 66 days, two weeks...

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Diana Olick
31d ago
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Treasury nominee Yellen says U.S. can afford higher corporate tax rate if it coordinates with other countries

Treasury nominee Yellen says U.S. can afford higher corporate tax rate if it coordinates with other countries

Key PointsTreasury nominee Yellen says U.S. can afford a higher corporate tax rate if it coordinates with other countriesJanet Yellen, President-elect Joe Biden's choice for Treasury secretary, testified Tuesday that the U.S. could afford a higher corporate tax rate if it coordinates with other economies around the globe."We look forward to actively working with other countries through the [Organization for Economic Cooperation and Development] negotiations on taxes on multinational corporations to try to stop what has been a destructive, global race to the bottom on corporate taxation,"...

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Thomas Franck
33d ago
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Meet the mayors pushing for guaranteed income in 30 cities across the country

Meet the mayors pushing for guaranteed income in 30 cities across the country

In Martin Luther King Jr.'s 1967 book "Where Do We Go From Here: Chaos or Community?" the civil rights leader discussed how to best address poverty in the United States. "I am now convinced that the simplest approach will prove to be the most effective — the solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income," he wrote.King was not the first to propose a guaranteed income; political philosophers from to also penned their support for what is often referred to as "universal basic income." And the idea was recently re-popularized by former...

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Abigail Johnson Hess
32d ago
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Trump pardons Steve Bannon, Elliott Broidy, dozens of others, on last night in White House

Trump pardons Steve Bannon, Elliott Broidy, dozens of others, on last night in White House

Key PointsPresident issued , including one to his former campaign chief and ex-White House advisor Steve Bannon, who was charged with swindling donors to a supposed effort to build a wall on the border with Mexico.Others who received some of the 73 pardons from Trump included the major Republican fundraiser Elliott Broidy, who pleaded guilty last fall to acting as an unregistered foreign agent and the rapper Lil Wayne, who pleaded guilty to a weapons charge last monthEx-Detroit mayor Kwame Kilpatrick, who has been serving a 28-year prison sentence for fraud charges, had his sentence...

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Dan Mangan
34d ago
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Trump pardons Steve Bannon, Elliott Broidy, dozens of others, on last night in White House

Trump pardons Steve Bannon, Elliott Broidy, dozens of others, on last night in White House

Business News and FinanceVIEW IN APPA Facebook iconA Twitter iconA LinkedIn iconAn email iconKEY POINTS President issued , including one to his former campaign chief and ex-White House advisor Steve Bannon, who was charged with swindling donors to a supposed effort to build a wall on the border with Mexico.Others who received some of the 73 pardons from Trump included the major Republican fundraiser Elliott Broidy, who pleaded guilty last fall to acting as an unregistered foreign agent and the rapper Lil Wayne, who pleaded guilty to a weapons charge last monthEx-Detroit mayor Kwame...

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Dan Mangan
34d ago
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Italy avoids government collapse as Prime Minister Giuseppe Conte survives confidence vote

Italy avoids government collapse as Prime Minister Giuseppe Conte survives confidence vote

Key PointsLONDON — Italy averted further on Tuesday after Prime Minister Giuseppe Conte survived a confidence vote in the upper house of Parliament.The country had been embroiled in fresh political uncertainty over the past week after a smaller party withdrew its support for the coalition government — thus stripping it off from having a majority in Parliament.However, Italian lawmakers in the Senate supported Conte during a vote on Tuesday, by 156 to 140, allowing him to remain in office. He was also backed by the lower house of Parliament in a vote on Monday evening. Conte will now lead a...

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Silvia Amaro
30d ago
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Cell-based seafood producer BlueNalu raises $60 million as it preps for market launch

Cell-based seafood producer BlueNalu raises $60 million as it preps for market launch

Key PointsFirst, it was . Now, it's seafood. San Diego-based food startup BlueNalu said Tuesday that it raised $60 million in convertible note financing, as it prepares for a possible market launch later this year."This recent financing will allow us to continue advancing our mission and the next phase of our commercialization plans, while we continue to develop strategic partnerships that we expect will provide us with global market reach during the coming years," says Lou Cooperhouse, BlueNalu's president and CEO, in a statement.BlueNalu intends to use the funds to complete its regulatory...

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Katie Tsai
32d ago
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Trump doesn't mention Biden in farewell address that glosses over Capitol riot and Covid deaths

Trump doesn't mention Biden in farewell address that glosses over Capitol riot and Covid deaths

Key PointsTrump gives his farewell addressPresident Donald Trump in a prerecorded touted his record on the economy and foreign policy, while glossing over the Capitol riot that consumed the final weeks of his presidency.He also failed to mention his successor, Joe Biden, by name. Biden will be inaugurated as the nation's 46th president Wednesday.Trump's nearly 20-minute speech, which was taped Monday, framed his departure from the White House as the natural conclusion of a job well done, rather than as the consequence of his election loss to Biden."We did what we came here to do — and so...

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Kevin Breuninger
28d ago
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Lawyer says he lobbied Mnuchin and a congressman to reduce Bernie Madoff's sentence

Lawyer says he lobbied Mnuchin and a congressman to reduce Bernie Madoff's sentence

Key PointsIt's unlikely President Donald Trump will grant clemency to Ponzi schemer Bernard Madoff, according to a lawyer who has been trying to get the disgraced financier's sentence commuted. Yet the attorney said he lobbied top officials for that purpose.The attorney, James Craven, sent letters to Treasury Secretary Steven Mnuchin and Rep. Jim Himes, D-Conn., to try to get Madoff's 150-year sentence reduced, the lawyer told CNBC in an email.Brandon Sample, Madoff's attorney, referred CNBC to Craven as the "attorney who has been working on clemency for" the former Wall Street tycoon.Those...

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Brian Schwartz
28d ago
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MyPillow's CEO, a Trump supporter, says Bed Bath & Beyond, Kohl's stopped selling his products

MyPillow's CEO, a Trump supporter, says Bed Bath & Beyond, Kohl's stopped selling his products

Key PointsMyPillow CEO Mike Lindell, who has repeated false claims that President  did not lose the election, said retailers including and are removing his company's products from their stores.Trump's supporters on social media platforms are now calling for boycotts of the retailers, while other consumers are urging people to not purchase MyPillow products."I just got off the phone with Bed Bath & Beyond," Lindell said during an interview Monday evening with the Right Side Broadcasting Network. "They're dropping MyPillow.""Just got off the phone — not five minutes ago. Kohl's, all these...

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Lauren Thomas
2d ago
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Free college could become a reality under a Biden administration

Free college could become a reality under a Biden administration

Key PointsPresident-elect Joe Biden unveils $1.9 trillion plan to combat the virus and stimulate the economyOnce president-elect Joe Biden is inaugurated on Jan. 20, finally become a reality."With the makeup of this Congress, I am very optimistic that this will be on the agenda," said Morley Winograd, president and CEO of the Campaign for Free College Tuition. "The only person more passionate about this is first lady Jill Biden."On the campaign trail, said he will enact legislation to ensure that students can go to community college for up to two years without having to pay tuition.Biden...

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Jessica Dickler
3d ago
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Trump issues flurry of last-minute policy changes

Trump issues flurry of last-minute policy changes

CNBC's Shep Smith reports on last-minute rules passed by the Trump administration.01:09a few seconds ago

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2d ago
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Trump preparing to lift Europe, UK, Brazil Covid-19 travel restrictions this month

Trump preparing to lift Europe, UK, Brazil Covid-19 travel restrictions this month

The Trump administration is planning to lift Covid-19 travel restrictions on most foreign visitors from Europe, the U.K. and Brazil, effective Jan. 26, according to people familiar with the matter.The White House put the rules place to curb the spread of the virus. Last week, the U.S. said it would require travelers arriving from abroad, including U.S. citizens, to . That requirement takes effect on Jan. 26, the same day the travel restrictions would be lifted. The planned removal of the ban, reported earlier by Reuters, would go into effect just days after President-elect 's Wednesday...

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Leslie Josephs
2d ago
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World on the brink of 'catastrophic moral failure' due to unfair vaccine rollouts, WHO chief says

World on the brink of 'catastrophic moral failure' due to unfair vaccine rollouts, WHO chief says

Key PointsLONDON — The head of the World Health Organization said Monday the equitable distribution of coronavirus vaccines is at "serious risk."Warning of a "catastrophic moral failure," WHO's Director-General Tedros Adhanom Ghebreyesus said "the recent emergence of rapidly-spreading variants makes the rapid and equitable rollout of vaccines all the more important."But he added that this distribution could easily become "another brick in the wall for inequality between the world's haves and have-nots.""As the first vaccines begin to be deployed, the promise of equitable access is at...

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Holly Ellyatt
3d ago
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New York Gov. Cuomo asks to buy Covid vaccine directly from Pfizer amid dose shortages

New York Gov. Cuomo asks to buy Covid vaccine directly from Pfizer amid dose shortages

Key PointsNew York Gov. Andrew Cuomo asked CEO Albert Bourla Monday for the ability to buy Covid-19 vaccine doses directly from the company. But the company in a statement said the Department of Health and Human Services would need to approve such a model first.The comes after an alarmingly slow start to the national vaccine rollout, with the country millions of injections short of the Trump administration's initial projections. , the U.S. had distributed more than 31 million doses and administered just over 12 million. Health officials had 20 million Americans by the end of 2020.Cuomo, a...

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Lauren Feiner
2d ago
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WhatsApp delays privacy update over user 'confusion' and backlash about Facebook data sharing

WhatsApp delays privacy update over user 'confusion' and backlash about Facebook data sharing

Key PointsWhatsApp has delayed a privacy policy update that caused confusion and backlash among users over fears it could mean broader data sharing with the messaging app's owner ."We've heard from so many people how much confusion there is around our recent update. There's been a lot of misinformation causing concern and we want to help everyone understand our principles and the facts," WhatsApp said in a blog post over the weekend.The updates related specifically to features that allow users to message and interact with businesses on WhatsApp. Last year, Facebook announced that businesses...

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Arjun Kharpal
3d ago
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Biden national security advisor calls for Russia to immediately release detained Putin critic

Biden national security advisor calls for Russia to immediately release detained Putin critic

Key PointsWASHINGTON – President-elect Joe Biden's national security advisor Jake Sullivan called for the immediate release of Russian opposition leader Alexei Navalny, .Earlier on Sunday, where he had spent nearly half a year recovering since he was poisoned last summer. He was arrested at passport control.Last week, Russian authorities issued a warrant for Navalny's arrest, claiming that he had violated the terms of a suspended three-and-a-half year sentence he received back in 2014 for embezzlement charges."Mr. Navalny should be immediately released, and the perpetrators of the...

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Amanda Macias
3d ago
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