However, the company reported fourth-quarter revenue of $98.5 million that greatly exceeded analysts’ expectations. The company said it expects first-quarter revenue of $880 million to $895 million, while analysts polled by FactSet estimated $910.6 million. The company revised its fiscal-year guidance on revenue from $12.00 billion to 12.50 billion, to $11.50 billion to $12.50 billion. VMWare reported earnings of $2.05 per share excluding some items, while analysts had estimated earnings of $2.1

Art Hogan, chief market strategist of National Securities, says this correction is driven both by coronavirus fears and an overdue need for a pullback. “We’re 10% off our all-time highs. So what we have to look at is, how much of this correction is driven by the uncertainty over the economic damage that will clearly follow in the wake of this coronavirus. And how much of this is, this market has been looking for an excuse to pull back. … And I think there’s some combination of both, and it’s h

“[It’s] amazing: In a down tape today, Netflix was actually strong and we’re actually working towards new highs.” Gordon’s other hideout play was the stock of pharmaceutical giant Merck, which hasn’t had as easy a run in 2020. John Petrides, who is a portfolio manager in Tocqueville’s wealth management branch, also recommended hiding out in high-dividend plays. Petrides’ other pick was the controversial stock of Wells Fargo, which the wealth manager admitted was still in the “penalty box.” But w

CNBC’s Jim Cramer on Thursday rolled out a list of technology stocks that investors can pick from in the current volatile environment on Wall Street. “These 10 tech stocks … don’t need China, they don’t need the Fed, they don’t need enterprise spending and they don’t need us to stop the coronavirus,” Cramer said. Cramer presented his suggestions after the major averages went through another brutal trading day this week. Cramer said the 10 stock picks can work, even if the epidemic spreads acro

Amanda Macias | CNBCPARIS — Nearly a year into restoring the fire-ravaged Notre Dame Cathedral, experts are working through a backlog of now-blackened artifacts that once graced the landmark. The day after the massive April 15 inferno engulfed the masterpiece of Gothic architecture, French President Emmanuel Macron announced that Notre Dame would be rebuilt by 2024. Tourists look at the Notre Dame Cathedral under construction in Paris, France, on February 18, 2020. A view of the construction und

Walmart is working on a competitor to Amazon Prime, called Walmart+, a spokeswoman confirmed to CNBC on Thursday. The Walmart spokeswoman didn’t confirm the Vox report, nor offer other details on the model. Walmart is considering an option where customers can use text messages to place orders, as part of Walmart+, the report said. Amid a broader market sell-off, Walmart shares were down more than 1.5% Thursday afternoon. Amazon shares were down nearly 3%.

The U.S. stock market fell into a correction Thursday as investors punished equities in favor of safer assets as anxiety over the spread and potential impact of the virulent coronavirus. A correction is defined as a 10% decline in one of the major U.S. stock indexes, typically the S&P 500 or Dow Jones Industrial Average, from a recent 52-week high close. Historical analysis shows these corrections result in a 13% decline and take about four months to recover to prior levels, on average. This is

“This is a fluid situation right now and I want to emphaize the risk to the American public remains low,” said Dr. Sonia Y. Angell, California Department of Public Health Director and State Health Officer during a press conference. The Centers for Disease Control and Prevention doesn’t know exactly how the new California patient, who’s receiving medical care in Sacramento County, contracted the virus. California health officials said the patient wasn’t under quarantine before her diagnosis and w

Dow Jones Industrial Average futures were up 16 points, but indicated a loss of more than 150 points at Friday’s open. S&P 500 and Nasdaq 100 futures also pointed to a lower open on Friday. The 30-stock average closed in correction territory along with the S&P 500 and Nasdaq Composite. Thursday’s declines also put the Dow and S&P 500 down more than 10.5% each for the week, on pace for their worst weekly performance since 2008. The number of confirmed coronavirus cases outside of China has also j

In fact, a financial transaction tax would limit the effects of unfair trading, raise revenue and help reduce income inequality. The costs to most Americans from such a tax would likely range from minimal to zero. At Public Citizen, we estimate that the average middle-income family with a retirement account would experience about $13 a year in costs from a 0.1% financial transaction tax. Costs for families in the top 10% of income — with a median income of $260,200 — would be higher, but hardly

“But if I’m not married, the default wouldn’t be my partner,” Rosenbauer said. Retirement accountsIf you want to make sure your tax-advantaged retirement accounts — i.e., Roth and traditional individual retirement accounts, 401(k) plans and the like — end up with your partner, make sure that person is the named beneficiary on those accounts. Typically, though, those retirement assets would end up being included in your assets that are subject to probate. “If the house in one person’s name, it wo

One thing many aren’t thinking about is the opportunity that refunds present to ramp up their emergency savings. The IRS already makes it easy for filers by allowing them to deposit their refund into up to three different accounts. If people don’t save for emergencies, they cannot buffer themselves against unexpected shocks in the short term. Through the Consumer Financial Protection Bureau’s “Start Small, Save Up” initiative, we work to increase opportunities for people to save and to empower t

A woman shops for clothing at the JC Penney store in the Roosevelt Field Mall in Garden City, New York. While CEO Jill Soltau said she has been encouraged by Penney’s progress, particularly in its women’s apparel business, the department store operator is still expecting 2020 will bring further declines in same-store sales. Penney is now calling for same-store sales in fiscal 2020 to be down 3.5% to 4.5%, excluding any impact from the coronavirus outbreak. The Plano, Texas-based department store

A view of a Best Buy retail store on August 29, 2019 in San Bruno, California. Best Buy on Thursday reported fourth-quarter results that exceeded analysts’ expectations, driven by strong sales of headphones, appliances and other items over the holidays. Best Buy said revenue grew to $15.2 billion, from $14.8 billion last year, and was higher than the $15.05 billion analysts expected. Over the holiday season, Best Buy offered next-day delivery on thousands of items with no minimum purchase or mem

Brazil, Georgia, Greece, North Macedonia, Norway, Pakistan and Romania reported coronavirus cases over the last day, Tedros said. World Health Organization officials warned that member countries need to prepare for their first COVID-19 cases after seven new countries reported cases for the first time over the last 24 hours. “The epidemics in the Islamic Republic of Iran, Italy and the Republic of Korea demonstrate what this virus is capable of.” Health officials have said the respiratory disease

Richard Branson, founder of Virgin Group Ltd., speaks during an interview following Virgin Galactic Holdings Inc.’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Oct. 28, 2019. Here are the biggest calls on Wall Street on Thursday:Morgan Stanley downgraded the space company and said it’s waiting for the stock’s fundamentals to catch up with the recent rally. “We remain constructive on the long term potential of SPCE, medium-term fo

“Normally, if you are planning to go on a trip to China and something like this happens, you postpone your trip,” Montgomery said. However, in this case, “the hospitals are planning on this and we really want to go.” More from Personal Finance:How to make money if your flight is delayedThis app eases clearing U.S. customs, immigrationHow to pick the best travel rewards credit cardAs a precaution, “I instructed everyone to get travel insurance,” he said. In general, travel insurance will reimburs

Keith Block, co-chief executive officer of Salesforce.com Inc., speaks during the opening keynote at the DreamForce conference in San Francisco, Sept. 25, 2018. RBC Capital on Thursday outlined three of the most likely companies it thinks former Salesforce co-CEO Keith Block might join following his Tuesday departure as chief executive. Block is well positioned to join Workday, Oracle or Amazon Web Services, according to the analyst note. After more than 25 years with Oracle, Block left in 2013

Johannes Eisele | AFP | Getty ImagesIt’s no secret that coronavirus fears have infected the market and prompted concerns about a potential global economic downturn. Here’s what we know now — and what you need to think about before making any fearful knee-jerk moves that you could end up regretting. Your portfolioWhen it comes to your investments, the biggest questions to ask yourself are what your goals and time horizon are. “It should be a longer recovery for those airlines or travel-type stock

An SEC order said Seagal, who has agreed to pay $314,000 in disgorgement and penalties, violated anti-touting provisions of federal securities laws during the very brief amount of time he spent as “brand ambassador” for the “Bitcoiin.” That Feb. 13, 2018 press release said that, “The inspiration of Bitcoiin2Gen is to make a superior or more advanced version of Original Bitcoin.” The SEC said, “These promotions came six months after the SEC’s 2017 DAO Report warning that coins sold in ICOs may be