During Wednesday’s Morning Meeting, the CNBC Investing Club with Jim Cramer discussed the mixed performance of U.S. stocks as the market awaited the Federal Reserve’s policy decision. Fed chief Jerome Powell was scheduled to make remarks during a press conference in the afternoon, with traders looking for hints on future rate cuts. While interest rates
The recent announcement by the Biden administration regarding the forgiveness of over $6.1 billion in student debt for former students of The Art Institutes has brought attention to the once prominent chain of for-profit schools. This relief will benefit 317,000 borrowers who attended any of the Art Institute campuses across the country between 2004 and
In a groundbreaking move, Microsoft has partnered with Brookfield Asset Management in a deal worth over $10 billion to develop renewable energy capacity. The primary goal of this investment is to meet the escalating demand for artificial intelligence and data centers. Under the agreement, Brookfield will provide 10.5 gigawatts of renewable energy to Microsoft between
With mortgage rates on the rise, consumers are seeking ways to reduce their monthly payments, leading to a surge in adjustable-rate mortgage (ARM) applications. The Mortgage Bankers Association reported that the share of ARM applications rose to 7.8% of mortgage demand, the highest level of the year. This shift marks a significant increase from when
Johnson & Johnson recently announced a $6.5 billion settlement plan to resolve thousands of lawsuits in the U.S. alleging that their talc-based products led to ovarian cancer. This move comes after decades of legal and public relations challenges for J&J, who have consistently defended the safety of their talc products. The majority of the lawsuits,
Bitcoin, the world’s most famous digital currency, experienced a significant drop on Wednesday, reaching its lowest level in over two months. The price plummeted to $56,757.93, marking a sharp decline below $57,000 for the first time since February 28. This sudden downturn in value is mainly attributed to broader risk-off sentiment prevailing in the market
New York Community Bank recently reported a quarterly loss of $335 million, a significant drop from the previous year’s net income of $2.0 billion. This loss was primarily attributed to soured commercial loans and increased expenses, painting a grim picture for the institution. The first-quarter loss of 45 cents per share came as a surprise
In extended trading, Amazon saw a nearly 2% increase in shares after surpassing both top and bottom line expectations for the quarter. With earnings of 98 cents per share on $143.31 billion in revenue, the company outperformed analyst predictions. The advertising and Amazon Web Services segments also exceeded expectations, showing positive growth potential. However, despite
Super Micro shares took a hit, dropping by as much as 15% in extended trading after the server maker reported revenue slightly below expectations for its fiscal third quarter. The company’s earnings per share of $6.65 adjusted versus an expected $5.78, while revenue stood at $3.85 billion compared to an anticipated $3.95 billion. Despite this,
The iconic tune of “Roundball Rock,” composed by John Tesh, could potentially make a comeback if NBCUniversal secures the rights to air NBA games once again. Following a loss to Disney 22 years ago, NBCUniversal has made an offer averaging $2.5 billion per year for the NBA rights. This offer more than doubles the current