Splunk shares rose as much as 14% in extended trading on Friday after the Wall Street Journal reported that Cisco made an offer to buy the data analytics software company for over $20 billion. At the peak of its after-hours move, Splunk was valued at more than $20 billion, up from $18.2 billion at the […]
Shares of rocket builder Astra fell sharply Thursday, after the company’s latest mission failed to reach orbit. Astra’s stock fell 26% to close at $3.91 a share. The company confirmed there was an issue mid-flight that prevented the rocket from delivering a set of four cube satellites to orbit on a NASA-funded mission. “I’m deeply […]
High inflation overshadowed a big increase in wages over the past year, amounting to a nearly 2% smaller paycheck for the average worker, according to federal data published Thursday. Employers have raised wages at about the fastest rate in 15 years, as they compete for talent amid record job openings and quit levels. But consumer […]
Consumer prices surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year. The consumer price index for January, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared with a year ago, the Labor Department reported […]
Citi economists now expect the Federal Reserve to make a more aggressive 50-basis-point hike in the fed funds target rate in March. The bank made its forecast after January’s consumer price index soared 7.5% on an annual basis, up from a 7% gain in December. Wall Street economists have been expecting a quarter-point hike for […]
Major U.S.-based payment processor PayPal has assembled a team of industry experts to act as advisors on crypto, blockchain and digital currencies. In a Tuesday announcement, PayPal said the addition of six members to its Blockchain, Crypto and Digital Currencies advisory council would help to support its current and future products as well as its […]
Atlanta Federal Reserve President Raphael Bostic said Wednesday he anticipates hiking interest rates three or four times this year, but he stressed that the central bank isn’t locked into a specific plan. Speaking on CNBC’s “Squawk Box,” the policymaker signaled a view that is less aggressive than the market’s on rates. “In terms of hikes […]
Food delivery service DoorDash Inc. will offer financing on its app to restaurants that need business loans through the new DoorDash Capital program, according to a Bloomberg report Wednesday (Feb. 9). DoorDash Capital merchants can apply for financing to pay for business operations, including buying equipment, paying rent, hiring employees and meeting payroll, the report […]
Disney reported earnings for its fiscal first quarter Wednesday that beat analyst estimates on earnings per share and revenue. The stock popped about 8% in extended trading on the news. Here are the results. Earnings per share: $1.06 adj. vs 63 cents expected, according to a Refinitiv survey of analysts Revenue: $21.82 billion vs $20.91 billion expected, according to […]
Peloton might be for sale. (Or, maybe not quite yet, if you think the new CEO will have enough time to right the ship.) On Friday, news broke in The Wall Street Journal that Amazon was taking a look at Peloton. Later, it came out that Nike was too. And then we got a repeat […]
President Joe Biden publicly acknowledged Tesla for the first time in his presidency on Tuesday, noting the company’s status as the nation’s largest producer of electric vehicles. Biden’s mention of Tesla came during a speech to promote American companies expanding the nation’s EV infrastructure. It was sandwiched between shout-outs to legacy automakers General Motors and […]
Lyft reported fourth-quarter results after the bell on Tuesday. It beat estimates on adjusted earnings per share and revenue but said it had fewer active riders than in the prior quarter. Shares were down more than 6% in after hours trading after executives said the omicron coronavirus variant would weigh on first quarter numbers. Lyft […]
