DETROIT – Ford Motor is cutting production next week of several key products due to an ongoing global shortage of semiconductor chips. The automaker on Friday confirmed production downtime next week for the Ford Bronco and Explorer SUVs; the Ford F-150 and Ranger pickups; the Ford Mustang Mach-E electric crossover; and the Lincoln Aviator SUV […]
Snap reported its first quarterly net profit on Thursday, and beat analyst estimates for the fourth quarter on earnings, revenue and user growth. The report comes a day after Facebook parent Meta delivered disappointing guidance for the first quarter that dragged down several social media stocks with it. Snap fell 23.6% Thursday prior to its […]
Discussing Q4 earnings with analysts, PayPal CFO John Rainey disclosed that 4.5 million accounts had been shut down after “bad actors” took advantage of incentives and rewards programmes, resulting in shares falling by 25%, according to Bloomberg. On the conference call, PayPal representatives revealed that inflation and supply chain disruption were to blame for customers […]
Amazon Prime is increasing in price for the first time since 2018. The company used its latest earnings to reveal that it’s raising the fee to $15 per month (previously $13), or $139 per year (previously $119). The higher rates kick in February 18th for new customers, but they won’t take effect for existing customers […]
Shares of Facebook parent Meta closed down more than 26% Thursday after the company forecasted weaker-than-expected revenue growth in the next quarter. It also said it’s taking a big hit from Apple’s privacy changes, and showed the first quarterly decline in daily active users on record. The stock finished with its biggest one-day drop ever, […]
Waste Management CEO and President Jim Fish on Wednesday expressed confidence in the company’s 2022 prospects, despite the continued presence of inflationary pressures. “Our guidance that we just gave for 2022 is pretty darned robust,” Fish said in an interview on “Mad Money,” referring to projected organic revenue growth of 6% and adjusted operating EBITDA […]
Spotify (SPOT) reported fourth quarter financial results on Wednesday that beat Wall Street expectations — although the stock plunged after the company gave weak guidance on monthly active users for Q1 2022. Here is how Spotify performed this quarter, compared to analyst expectations, according to Bloomberg consensus estimates: Revenue: $3.025 billion (+24% Y/Y, +8% Q/Q) versus […]
Meta Platforms, formerly Facebook, is the latest casualty tied to inflation, and shares plummeted in the extended session. “We’re hearing from advertisers that macroeconomic challenges like cost inflation and supply chain disruptions are impacting advertiser budgets,” the company disclosed in its fourth-quarter earnings release. The stock traded as low as $257.65 as of 4:40 p.m. […]
Credit card processor Revolution Payments has made text payments available for its gateway customers in the U.S. The text-to-pay solution supports credit cards and ACH payments, the Virginia-based company said in a news release this week. “The integration of text-to-pay is in direct response to growing customer demand for these services,” said Revolution, whose customer […]
Digital payments platform Newt Corporation has inked an agreement with Element Bank to issue branded credit and debit cards in Mexico, the company announced Tuesday (Feb. 1). The new cards are connected to Newt’s planned lending program aimed at enterprises, credit unions and government employee programs. “Signing this agreement with Element Bank provides us with […]
Google parent Alphabet said its board approved plans for a 20-for-1 stock split on Tuesday as part of the technology company’s quarterly earnings statement. Alphabet stock rose more than 9% in after-market trading following the news. The move comes a year and a half after Apple most recently split its stock, giving three shares for […]
AT&T said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery and also cut its dividend by nearly half. AT&T shareholders will own 71% of the new Warner Bros. Discovery company and will receive 0.24 shares of Warner Bros. Discovery for each AT&T share they […]
