U.S. broadcasting and media company CBS Corp said on Friday it was investigating allegations of personal misconduct by its chief executive Leslie Moonves ahead of an upcoming New Yorker article that is expected to detail the claims.
The New York State Public Service Commission said Friday it revoked its approval of the 2016 merger agreement between Charter Communications Inc and Time Warner Cable, arguing that Charter failed to build out its network for enough homes, and said the company must end its operations in the state.
Wall Street’s major indexes were lower on Friday as weak earnings reports from major technology companies weighed on the sector.
The second-quarter report took some fizz out of this bottle-rocket ticker due to weak earnings now and in the near future. …read more […]
AbbVie posts fantastic Q2 numbers but its stock falls. Here’s why — and why the negative reaction is missing the bigger story. …read more […]
The U.S. economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July. President Donald Trump, who ahead of Friday’s release of the gross domestic product report had promoted the notion that second-quarter growth would be robust, declared victory. “We have accomplished an economic turnaround of historic proportions,” Trump told reporters. …read more […]
Interactive Brokers Group said on Friday it will increase margin requirements for clients making Tesla Inc bets due to recent volatility in shares of Elon Musk’s electric car company.
MoviePass suffered a service outage late Thursday caused by it temporarily running out of cash. Helios & Matheson — the parent company of MoviePass —said Friday that its ongoing cash troubles had finally hit a breaking point, causing a temporary “service interruption,” that sent its stock plummeting as much as 66%. …read more […]
A U.S. jury on Friday awarded International Business Machines Corp $83 million in a patent dispute with e-commerce company Groupon Inc .
The U.S. economy grew at its fastest pace in nearly four years in the second quarter as consumers boosted spending and farmers rushed shipments of soybeans to China to beat retaliatory trade tariffs before they took effect in early July.
When Caterpillar Inc reports earnings on Monday, investors will focus on the heavy equipment maker’s ability to adjust its prices in the face of rising materials costs that are expected to pressure profit margins.
Follow Amazon’s stock price in real-time here. A much-overlooked bit in Amazon’s earnings press release on Thursday — in which Amazon said “we want customers to be able to use Alexa wherever they are” — has one Macquarie analyst speculating that the e-commerce giant could be planning another foray into phones. “We suspect, though this is admittedly speculation, that Amazon will have to re-enter the phone market either directly or indirectly in order to drive Alexa adoption,” Benjamin Schachter, the bank’s technology analyst, said in a note to clients Friday following Amazon’s record-breaking earnings report. …read more […]
World shares were little changed on Friday as mixed corporate profits and economic data that only met expectations struggled to displace concerns over trade and central bank policy, though a key global equity index was still set for a fourth week of gains.
U.S. President Donald Trump on Friday hailed a report on economic growth as a sign that the economy was mounting a remarkable turnaround under his stewardship. The facts are more nuanced.
U.S. stock indexes were lower on Friday as weak earnings reports from Intel and Twitter dragged on the technology sector and as healthcare stocks were pressured by a clutch of disappointing earnings.
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