Gap on Thursday announced a new CEO for its Old Navy banner, effective Nov. 2, as the retailer tries to reinvigorate sluggish sales performance at the brand. Michael Francis, who was appointed the chief customer officer at Old Navy in May, will take over the reins from current CEO Haio Barbeito, who will become an…
Federal Reserve Chairman Kevin Warsh speaks during a news conference at Federal Reserve headquarters in Washington, July 29, 2026. Win Mcnamee | Getty Images The Federal Reserve‘s cryptic chairman is set to deliver his much-awaited keynote address Friday in Jackson Hole, with markets trying to anticipate what, if anything, he will have to say on…
Donald Trump Jr., co-founder of World Liberty Financial, during the Future Investment Initiative (FII) Priority Summit conference in Miami, Florida, US, on Friday, March 27, 2026. Zak Bennett | Bloomberg | Getty Images In March, Donald Trump Jr. told Republican state attorneys general not to go after prediction markets, The New York Times reported on…
After an explosive debut and equally impressive crash, SpaceX shares are now, well, hovering in midair. After debuting as the most volatile stock among its large-cap peers, Elon Musk‘s astronomic equity hasn’t moved in three weeks, with shares trading in a $10 range around the $140 level. Implied volatility, a rough measure of the costs…
U.S. President Donald Trump speaks during an event in the Oval Office of the White House on August 27, 2026 in Washington, DC. Andrew Harnik | Getty Images News | Getty Images President Donald Trump on Thursday signed an executive order that he said will “immediately” change the name of Lake Ontario to “Lake America.”…
Shares of Salesforce jumped more than 20% Thursday after the company reported a beat on second-quarter earnings and announced an expanded partnership with artificial intelligence startup Anthropic. The stock is on pace for its second-best day ever, trailing only August 2020, when shares jumped roughly 26%. CEO Mark Benioff and Anthropic CEO Dario Amodei joined…
Texas Senate candidate James Talarico (D-TX) speaks at a campaign rally on March 2, 2026 in Houston, Texas. Talarico is visiting various locations around the state in the lead up to tomorrow’s primaries. Danielle Villasana | Getty Images Texas Democratic Senate candidate James Talarico is out with a new plan, first shared with CNBC, to…
Cleveland Federal Reserve President Beth Hammack on Thursday repeated her call for higher interest rates, saying recent inflation data show the central bank is still too far from its goal. A report released Wednesday showed inflation running around 3% on an annualized basis, the central bank policymaker said. Even though the monthly rates of price…
Jonathan Raa | Nurphoto | Getty Images CrowdStrike and Okta shares surged on Thursday after earnings showed that artificial intelligence adoption is pushing customers to spend more on cybersecurity tools. Both companies beat Wall Street’s estimates for the fiscal second quarter and raised their forecasts, citing the AI agent threat. CrowdStrike gained 15% while Okta…
A Best Buy logo sign is seen in Chicago, Illinois, United States, on July 29, 2026. Marcin Golba | Nurphoto | Getty Images Best Buy on Thursday reported better-than-expected fiscal second-quarter results and raised its full-year outlook as the company’s recovery showed more signs of taking hold. The consumer electronics retailer said it saw comparable…
