What happened Shares of Facebook (NASDAQ:FB) sank 3.9% on Tuesday, following the release of the social media giant’s third-quarter results. So what Facebook’s revenue jumped 33% year over year to $29 billion, driven by continued growth in its core digital ad business. Those gains, however, fell short of Wall Street’s expectations for revenue of nearly $29.6 billion. Facebook’s monthly active […]
Microsoft shares edged 2% higher in extended trading Tuesday after the software and hardware maker reported fiscal first-quarter earnings that exceeded analysts’ estimates. Here’s how the company did: Earnings: $2.27 per share, adjusted, vs. $2.07 as expected by analysts, according to Refinitiv. Revenue: $45.32 billion, vs. $43.97 billion as expected by analysts, according to Refinitiv. Total company revenue […]
Hat tip to Goldman Sachs for taking a somewhat contrarian take on the longer-term outlook for inflation. Whether it proves correct is anyone’s guess as headlines continue on price spikes for commodities and consumer goods. “We are boosting our sequential inflation assumptions for Q4 and early 2022. We now expect year-on-year core PCE inflation of […]
U.S. stock index futures were little changed during overnight trading on Tuesday after the Dow and S&P closed at record highs as earnings season continues. Futures contracts tied to the Dow Jones Industrial Average and S&P 500 were flat. Nasdaq 100 futures declined 0.09%. During regular trading the Dow advanced roughly 15 points to end […]
U.S. stock futures were steady in overnight trading on Monday as investors await a slew of major technology earnings with the broader market at a record high. Dow futures rose just 10 points. S&P 500 futures gained 0.1% and Nasdaq 100 futures rose 0.15%. Shares of social media giant Facebook ticked 3% higher in after-hours […]
First came the tourists. Next comes the business. Blue Origin says it will create a new privately owned space station in orbit around the Earth — what it calls a “mixed-use business park” in space. The company announced the plan months after completing its first human space flight on the New Shepard launch vehicle, an […]
Amid reports that Facebook has misled shareholders about significant declines in teens and younger users, Mark Zuckerberg said the company was “retooling” in order to make “serving young adults” its top priority. To do that, the company plans to make “significant changes” to its Facebook and Instagram apps, and spend billions of dollars building out […]
Tesla hit a $1 trillion market cap on Monday following news that Hertz is ordering 100,000 vehicles to build out its electric vehicle rental fleet by the end of 2022. The company joins trillion-dollar market cap companies like Apple, Amazon and Microsoft. News of the deal brought Tesla’s stock to more than $1,045 a share […]
The Australian government and telecoms giant Telstra are buying a Pacific telecoms company in a joint venture. The move is being viewed as a political block to China’s influence in the region. Telstra called the A$2.1bn ($1.6bn; £1.2bn) deal a “unique and very attractive commercial opportunity to boost our presence in the region”. Digicel Pacific […]
Federal Reserve chair Jerome Powell said on Friday that Americans should be prepared for the global supply chain to remain in crisis through 2022 — and that the central bank is preparing to deal with the attendant challenges for the US economy. Speaking at a Bank for International Settlements-South African Reserve Bank centenary conference, Powell […]
Hours after releasing an update to its Full Self-Driving software beta—which, contrary to its name, does not allow the car to drive itself without human supervision—Tesla has rolled it back. In a tweet on Sunday afternoon, Tesla CEO Elon Musk said the rollback was due to “some issues” with version 10.3 but did not specify […]
HSBC on Monday reported third-quarter earnings that handily beat expectations and announced plans for a share buyback of up to $2 billion. The bank’s reported pre-tax profit for the third quarter jumped 75.8% from a year ago to $5.4 billion. Analyst estimates compiled by the bank had expected a 22.8% on-year jump in reported pre-tax profit […]
