Monday, May 16, 2022
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From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting business

Factories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site. Pictured here is an auto parts manufacturer in Suzhou that has had 478 employees on site since April 16.CFOTO | Future Publishing | Getty ImagesBEIJING — Several international corporations warned in the last week

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Buffett bought more Apple last quarter and says he would have added more if the stock didn’t rebound

Warren Buffett and Charlie Munger at Berkshire Hathaway shareholder meeting, April 30, 2022.CNBCWarren Buffett bought the dip in his No. 1 stock Apple during the tech giant's sell-off in the first quarter.Berkshire Hathaway's Chairman and CEO told CNBC's Becky Quick that he scooped up $600 million worth of Apple

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Stocks making the biggest moves premarket: Robinhood, Amazon, Apple, Roku and more

Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021.Brendan McDermid | ReutersCheck out the companies making headlines in premarket trading Friday.Apple — Apple's stock price

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Stocks making the biggest moves after hours: Amazon, Apple, Robinhood and more

An Amazon truck is seen entering the LDJ5 Amazon Sort Center on April 25, 2022 in New York City.Michael M. Santiago | Getty ImagesCheck out the companies making headlines in extended trading.Amazon — Shares of the e-commerce giant tumbled by 10% after hours, after the company reported first-quarter results

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Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway amid recession worries

Warren Buffett, Chairman and CEO of Berkshire Hathaway.David A. Grogan | CNBCWarren Buffett has begun to unleash Berkshire Hathaway's massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes in energy and computer corporations.But his recent moves are more notable for what he has avoided

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Huawei’s first quarter revenue tumbles by nearly 14% as smartphone sales plunge

Huawei's smartphone business has struggled under U.S. sanctions that restrict it from buying chips and other components from key suppliers.Costfoto | Future Publishing | Getty ImagesBEIJING — Chinese telecommunications giant Huawei announced Thursday that first quarter revenue fell by nearly 14% from a year ago, while its profit margin

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China’s Covid policy locks down a city three times the size of New York

The Huangpu River splits the Chinese city of Shanghai between the older settlement on the west and the newer, financial center on the east.Johannes Eisele | Afp | Getty ImagesChina's latest wave of Covid restrictions has forced millions of people — roughly three times as many as live in

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Stocks making the biggest moves midday: AT&T, Nvidia, Sailpoint Technologies and more

A pedestrian walks in front of an AT&T location in New York.Scott Mlyn | CNBCCheck out the companies making headlines in midday trading Monday:AT&T — Shares of AT&T jumped more than 7% after the telecom giant announced that it closed its transaction with Discovery to spin off its WarnerMedia

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Stocks making the biggest moves premarket: GameStop, Apple, BlackBerry and more

Check out the companies making headlines before the bell:GameStop (GME) – GameStop plans to seek shareholder approval to boost the number of shares outstanding in order to enable a stock split. The videogame retailer is proposing an increase to 1 billion shares from 300 million. The stock surged 16.6%

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Sequoia leads $80 million funding round for Swiss expense management start-up Yokoy

Sequoia Capital is betting the next European tech giant will emerge in Switzerland.The Silicon Valley venture capital firm told CNBC that it led an $80 million funding round for Yokoy, a platform that helps large companies manage their expenses, invoicing and credit card processing. Previous investors Left Lane and

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