17 minutes ago
McDonald’s temporarily closes offices, prepares for layoffs
McDonald’s is preparing to lay off workers this week and will temporarily close its offices, according to a report from the Wall Street Journal.
The fast food giant is expected to notify employees virtually about the status of their work this week, according to the report.
—Jesse Pound
28 minutes ago
Tesla’s first-quarter deliveries up 36% year-over-year
Tesla reported Sunday that it delivered 422,875 vehicles in the first quarter.
The result exceeded the 310,048 deliveries reported in the same quarter last year and the 405,278 reported in the fourth quarter. The sales also came on the back of price cuts by the electric car maker.
As of Friday, Wall Street analyst estimates for deliveries ranged from 410,000 to 451,000, according to FactSet. The median estimate was 432,000.
—Jesse Pound
46 minutes ago
Oil futures rise after Saudi Arabia announces production cuts
Oil futures rose sharply on Sunday night after Saudi Arabia and other OPEC+ members announced surprise cuts in oil production.
Production costs would total about $1.16 million and would add to previously announced cuts, according to a report from Reuters.
US benchmark West Texas Intermediate crude and European benchmark Brent crude futures were each up 7%.
—Jesse Pound
56 minutes ago
A look back at the first quarter
Technology stocks and the Nasdaq were the stars of the first quarter, while bank stocks weighed on the broader market. Here are some of the notable statistics from the first three months of 2023.
The Nasdaq Composite:
- won 16.77%
- broke a four-quarter losing streak
- it is still 24.61% below its all-time high
The Dow Jones Industrial Average:
- gained 0.38%.
- it is still 9.95% below its all-time high
The S&P 500:
- won 7.03%
- it is still 14.72% below its all-time high
—Jesse Libra, Christopher Hayes
An hour ago
Nasdaq 100 and S&P 500 futures open lower
Nasdaq 100 and S&P 500 futures began trading slightly lower on Sunday night. Dow futures were flat.
—Jesse Pound
An hour ago
WWE close to deal with UFC parent Endeavour, CNBC reports
Sports entertainment company WWE is close to an agreement to merge with Endeavor, CNBC’s Alex Sherman reported on Sunday.
The deal would value WWE at more than $9 billion and leave Endeavor shareholders with 51% of the combined company, sources told Sherman. Endeavor is the parent company of the UFC martial arts league.
WWE has been on the sales block after a series of scandals involving Vince McMahon, its longtime CEO. The stock is up 33% year to date.
The deal could be announced as early as Monday.
—Jesse Pound
