SoftBank Group Corp. Chairman and Chief Executive Officer Masayoshi Son speaks during a press conference on May 10, 2017 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images SoftBank said profits from its $100 billion Vision Fund experienced a big jump in the fiscal first quarter, bolstered by bets on tech companies from Slack to DoorDash.
Finance
CEO of the Walt Disney Company, Bob Iger. Michael Kovac | Getty Images Check out the companies making headlines after the bell: Shares of Walt Disney fell more than 4% in after-hours trading after the entertainment giant’s third-quarter earnings missed Wall Street’s estimates. Disney reported adjusted earnings of $1.35 per share on revenue of $20.25
A Chinese bank staff member counting stacks of 100-yuan notes at a bank in Huaibei, China. AFP | Getty Images Following Monday’s market meltdown traders will take their cues from the Chinese central bank and where it sets the midpoint for the country’s currency, the yuan, as trade tensions between China and the U.S. increase.
Jim Cramer Scott Mlyn | CNBC Stocks were battered Monday as a wave of trade headlines added to investors’ fears. Still, CNBC’s Jim Cramer urged investors Monday to keep the tension in perspective. “I urge people to just think about it before they sell everything,” Cramer said Monday evening during CNBC’s “Markets in Turmoil” special.
The Trump administration took the trade war up another notch, calling China a currency manipulator and ratcheting up expectations that the White House has other moves it could make to retaliate against China. Last used in the 1990s, the designation was announced by the U.S. Treasury Monday after U.S. markets closed out a turbulent session.