May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Despite a decline in global commercial real estate markets, Asia-Pacific continues to enjoy a record-breaking growth — thanks to China, according to the Global Capital Flows...Real Estateread more
The Wall Street Journal and The New York Times, citing people familiar with the deal, reported that $30 million would go to plaintiffs and $14 million would be used to pay...Entertainmentread more
Danish shipping group A.P. Moller-Maersk on Friday posted first-quarter profit close to expectations and warned that trade tensions and slowing economic growth constitute...Earningsread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
The U.S. Commerce Department said its proposed rule would amend the normal countervailing duty process to include new criteria for currency undervaluation.World Economyread more
SpaceX sent 60 satellites into space in a key first mission toward the company's own high-speed internet network.Internetread more
Zilingo founder Ankiti Bose says working as an investment analyst helped her build her near-$1 billion fashion start-up.Ditching the Corporate Liferead more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
Facebook's stock will soon exceed the all-time high that it notched last summer, in the early months after the social network's massive Cambridge Analytica data privacy scandal, CNBC's Jim Cramer said Thursday.
It's going to take out $218 per share, Cramer said on "Squawk on the Street. " "Then it's like 26 times earnings and it's growing at 20%." Cramer's charitable trust owns Facebook shares, but its position was trimmed some late last year.
The stock closed March 16, 2018, at about $185 per share, the session before news broke of Cambridge Analytica's data misuse. Ten days after that, Facebook hit a then-intraday low of around $149, which represented a 19% decline. Under scrutiny over data privacy by Washington and Wall Street, Facebook eventually clawed its way to an all-time high on July 25, 2018, trading at more than $218 per share. But since then, Facebook had lost 16% as of Wednesday's close.
Shares of Facebook were about 7% higher Thursday, after the company reported after the bell the prior day first-quarter financial results that exceeded Wall Street expectations. The company beat on revenue and matched estimates on daily active user growth. At about $195 per share Thursday, the stock was about 12% away from its record high.
Cramer had been critical of Facebook for months after Cambridge Analytica scandal. The "Mad Money" host's criticisms were later targeted at Chief Operating Officer Sheryl Sandberg, who was reportedly blamed by Facebook co-founder, Chairman and CEO Mark Zuckerberg for the company's problems.
Cramer said Thursday that Facebook is now a "very inexpensive growth stock."