Facebook Inc Chief Executive Mark Zuckerberg’s fortune took a more than $15 billion hit on Thursday, as the social media company suffered the biggest one-day wipeout in U.S. stock market history a day after executives forecast years of lower profit margins.
Sales to data centres that power mobile and web apps, which bring more profit than chips for personal computers, rose 26.9 percent to $5.55 billion in the second quarter ended June 30. Intel has been increasingly catering to data centres as revenue from PCs has flattened since shipments peaked in 2011. “We believe performance within Intel’s data centre business largely dictates the performance in the shares and view the slight miss versus consensus as a negative,” said CFRA Research analyst Angelo Zino. …read more […]
Amazon (AMZN) just released its latest quarterly results, posting diluted earnings of $5.07 per share and revenues of $52.9 billion. Get the full rundown here! …read more […]
Intel Corp’s fast-growing data center business missed Wall Street targets on Thursday as the world’s second-largest chipmaker faced stiff rivalry from Advanced Micro Devices Inc , and it again delayed the release of its next-generation chips until the end of 2019.
Chesapeake Energy Corp plans to sell all of its Ohio natural gas acreage to privately owned Encino Acquisition Partners for about $2 billion, the company said on Thursday.
The U.S. Securities and Exchange Commission on Thursday stood by a decision to block an exchange-traded fund (ETF) that would have tracked bitcoin.
The U.S. administration got more out of a trade deal with the European Union than it had expected and the two will work together to deal with China’s market abuses, a top White House official told Reuters on Thursday. President Donald Trump and Jean-Claude Juncker, president of the European Commission, the EU’s executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers. Trump agreed on Wednesday to refrain from imposing car tariffs while the two sides launch negotiations to cut other trade barriers. …read more […]
A plunge in Facebook Inc’s shares pushed the Nasdaq down more than 1 percent on Thursday, the index’s biggest one-day drop in a month, but industrial stocks rose after the United States and the European Union said they would negotiate on trade.
Sales to data centers that power mobile and web apps, which bring more profit than chips for personal computers, rose 26.9 percent to $5.55 billion in the second quarter ended June 30. Intel has been increasingly catering to data centers as revenue from PCs has flattened since shipments peaked in 2011. AMD, which has been gaining ground with its new server chips, beat estimates for quarterly profit and revenue on Wednesday, powered by its EPYC server processors. …read more […]
SAN FRANCISCO/NEW YORK (Reuters) – Wall St breathed a sigh of relief on Thursday after Amazon.com’s quarterly results beat estimates, sending the online retailer’s stock to a record high and alleviating fears of deepening troubles across the FANG group after Facebook’s results sent its shares reeling. A 19 percent plunge in Facebook shares rattled Amazon.com investors earlier in the day, with traders in Amazon’s options displaying heightened defensiveness ahead of its June-quarter report after the bell. Facebook late on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb. …read more […]
The U.S. administration got more out of a trade deal with the European Union than it had expected and the two will work together to deal with China’s market abuses, a top White House official told Reuters on Thursday.
Amgen Inc Chief Executive Robert Bradway said on Thursday that the biotechnology company will not raise drug prices for the remainder of the year.
Wall Street breathed a sigh of relief on Thursday after Amazon.com’s quarterly results beat estimates, sending the online retailer’s stock higher and alleviating fears of deepening troubles across the FANG group after Facebook’s results sent its shares reeling.
Amazon.com Inc posted a profit that was double Wall Street targets on Thursday and forecast a strong pre-holiday quarter thanks to the retailer’s newer high-earning businesses including cloud computing and advertising.
Milk producer Fonterra said on Friday Chairman John Wilson has resigned from his position with immediate effect over concerns regarding his health.
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