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.
Intel Corp shares fell 9 percent on Friday, after the chipmaker’s upbeat results were overshadowed by concerns that Advanced Micro Devices Inc may be chiseling off market share from its high-margin data center business.
Bayer AG disputed accusations in a new Netflix documentary that claims medical device makers and the U.S. Food and Drug Administration placed profits before patient safety.
The MoviePass owner is now running its business on IOUs. …read more […]
Shares of U.S. television network CBS Corp tumbled 6.3 percent to $53.88 midday on Friday after the Hollywood Reporter said that the New Yorker magazine would soon publish a claim that CBS chief executive officer Les Moonves has been accused of sexual harassment.
Twitter Inc on Friday said it lost 1 million monthly active users from the previous quarter and warned the closely watched figure could keep falling as it deletes more phony accounts, causing the biggest one-day decline in its shares since 2016.
Colgate-Palmolive Co said on Friday that it would “modestly” raise prices in the second-half of the year, mainly in emerging markets, as the world’s largest toothpaste maker seeks relief from surging raw materials costs. The industry also has been rocked this year by rising commodities and transportation prices. Shares in Colgate were flat on Friday, reversing course from a 3 percent decline after the company reported weaker-than-expected quarterly sales and warned that it expected slower full-year net sales growth. …read more […]
Twenty-First Century Fox Inc and Walt Disney Co said on Friday their shareholders voted to approve Disney’s $71 billion purchase of Fox’s film and television assets.
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