Tesla, Roku, Brinker International, Target & more


Spacex founder Elon Musk celebrates after the successful launch of the SpaceX Falcon 9 rocket with the Crew Dragon spacecraft at the Kennedy Space Center on May 30, 2020 in Cape Canaveral, Florida.

Joe Raedle | Getty Images

Check out the companies making headlines in midday trading. 

Tesla — Shares of the electric carmaker jumped more than 9% after the electric carmaker announced late Tuesday a five-for-one stock split in a move to make its shares more accessible. However, nothing about the security fundamentally changes. The additional shares will be granted on August 28 to all those who hold the

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Swiss Re shares global catastrophe loss total for H1


Global insured catastrophe losses totaled US$31 billion in the first half of 2020, driven mainly by secondary perils, according to a new report from the Swiss Re Institute.

The institute estimated that global economic losses from natural catastrophes and man-made disasters totaled US$75 billion in the first half of the year – up from US$57 billion during H1 2019, but well below the 10-year average for first-half economic losses of US$112 billion. Of the H1 2020 economic losses, about 40% (US$31 billion) were covered by insurance. In the previous 10 years, first-half insured claims averaged US$36 billion annually, according to … Read More

Digital loan start-up Blend jumps to $1.7 billion valuation as mortgage demand surges


Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in Brooklyn, New York, Oct. 16, 2018.

Alex Flynn | Bloomberg | Getty Images

Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic.

The move values the company at almost $1.7 billion, a jump of more than 70% from its previous funding round a year earlier, CNBC has learned.

Blend is growing rapidly as U.S. banks and credit unions seek help in updating tedious, paper-heavy loan processes. The start-up, founded in

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Stein Mart files for bankruptcy, plans to close most stores for good


A Stein Mart store in King of Prussia, PA.

Google Earth

The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic. 

The Jacksonville, Florida-based company said in a press release it has already launched a liquidation process to kick off going-out-of-business sales. It said it is evaluating alternatives, including the potential sale of its e-commerce operations and intellectual property. 

“The combined effects of a challenging retail environment

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