Procter & Gamble Co beat quarterly sales estimates on Friday, helped by higher demand for its skin and health care products, but warned that rising commodity and freight costs would take a nearly $2 billion bite out of its earnings this year. Shares of the company, which makes Gillette, Oral-B and Pampers products, were up […]
What happened Shares of Roku (NASDAQ:ROKU) traded lower on Friday, with the stock falling as much as 4.9% earlier in the session, and ultimately ended the trading day down 4.7%. The streaming video specialist slumped on reports that Cathie Wood, the founder and CEO of ARK Investment Management has been selling Roku shares from ARK’s exchange-traded funds (ETFs). So what Wood has sold […]
The Federal Reserve wrapped up its July monetary policy meeting Wednesday with the announcement that it will keep the federal funds rate at its targeted 0% to 0.25% range. “With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen,” the Federal Open Market Committee (FOMC) said in […]
The federal government Friday rejected an appeal by billionaire Jeff Bezos’ Blue Origin to get in on NASA’s plans to return astronauts to the moon by using rival Elon Musk’s SpaceX. NASA in April awarded the $2.9 billion contract for a lunar lander to the more established SpaceX, which also offered a cheaper price than […]
SINGAPORE — Volatile trading continued for Chinese stocks on Friday, as losses were seen again — a day after they clawed back some gains following a dive early this week. Hong Kong’s Hang Seng index tumbled more than 2% by the afternoon. Declines were seen in tech stocks after they had jumped on Thursday. Alibaba […]
Shares of Robinhood closed down more than 8% in its Nasdaq debut, after pricing near the low end of its IPO range. The online brokerage started trading at $38 per share, the low end of its range, valuing the company at roughly $32 billion. After dropping as much as 10% and ending the session at […]
Amazon shares fell more than 7% in extended trading on Thursday after the company reported its first revenue miss in three years and gave weak third-quarter guidance. Here’s how the company did: Earnings: $15.12 vs $12.30 per share, according to analysts surveyed by Refinitiv Revenue: $113.08 billion vs $115.2 billion, according to analysts surveyed by Refinitiv Amazon’s revenue grew by 27% year […]
Chinese ride-hailing company Didi denied a Wall Street Journal report that said it could go private to appease Chinese authorities scrutinizing its business. The original Journal report sent Didi’s stock soaring nearly 40% during premarket trading Thursday, though it pared gains after the company’s denial. The stock closed up 11.2%. Didi listed its shares on […]
Robinhood is expected to start trading in the public market under the ticker HOOD on Thursday, with an initial price of $38, giving the company a valuation of $31.8 billion, The Wall Street Journal reported. This is at the lower end of the expected $38 to $42 range the company expected. The investing app offers an easy way for […]
China is relentlessly cracking down on tech giants ranging from ride-sharing firm Didi (DIDI) to internet giant Tencent and Alibaba (BABA) affiliate Ant Financial Group. Along the way, billions of dollars have been washed away, as Chinese stocks tank amid concerns that what were once easy growth opportunities are now high-risk bets. The swift crackdown follows the […]
U.S. stock futures were little changed in Wednesday evening trade after the Federal Reserve concluded its two-day meeting of the Federal Open Market Committee by making no move on asset purchases. Dow Jones Industrial Average futures gained just 4 points. Meanwhile, S&P 500 futures and Nasdaq 100 futures traded in mildly negative territory. PayPal and […]
Facebook shares fell as much as 5% in extended trading on Wednesday after the social media company called for revenue growth to slow in the quarters ahead, even as second-quarter results came in ahead of estimates. Here’s how the company did: Earnings: $3.61 per share, adjusted, vs. $3.03 per share as expected by analysts, according to Refinitiv. Revenue: $29.08 […]
