The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Shares of Stitch Fix are soaring more than 30 percent Tuesday, on pace for its best day ever, after the personal styling company reported better-than-expected second-quarter earnings after the bell Monday.
"We had 6 percent higher net revenue per client than we did a year ago," Stitch Fix founder and CEO Katrina Lake told CNBC's "Squawk Alley" Tuesday morning.
Lake attributed some of the quarter's success to new algorithm applications. Stitch Fix is using the data they obtain from styling reviews and quizzes on the app called "style shuffle" to predict inventory demand.
Since becoming a public company, Stitch Fix has posted six consecutive quarters of more than 20 percent revenue growth.
"Our aspiration was to the drive this 20 to 25 percent year-over-year growth in revenue in a retail backdrop that's not all that exciting right now," said Lake.
Stitch Fix is planning to invest $15 million to $20 million on a brand campaign and a launch in the U.K., which is expected to affect earnings projections.
"It's something we really expect to impact the business over a longer term," said Lake. "The metrics we are looking for are really going to be around awareness and understanding of the brand."
The stock is continuing to soar after jumping more than 20 percent in extended trading Monday.
Beating on the top and bottom lines, Stitch Fix posted earnings per share of 12 cents on revenue of $370 million. Wall Street expected earnings of 5 cents on revenue of $365 million, according to Refinitiv.
"Q2 was another strong quarter for us, delivering net revenue of $370.3 million, exceeding our guidance and representing 25% year-over-year growth," said Lake in a company release.
Stitch Fix's active clients came in at 2.96 million, outpacing estimates of 2.95 million. This is an increase of 18 percent year over year.
"We launched our first integrated brand campaign in February to increase awareness and consideration with new and existing clients and we're excited to connect even more people to the power of personalized styling," said Lake.
Stitch Fix issued strong third-quarter and full-year forecasts. The company estimates third-quarter revenue will be between $388 million and $398 million, compared to the $384 million forecast by Refinitiv.
The company sees 2019 revenues between $1.53 billion and $1.56 billion, topping estimates of $1.51 billion.
Stitch Fix's stock is up more than 130 percent since the company's initial public offering in November 2017.