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Snap's quarterly users, revenue pop, but declines Q2 guidance amid coronavirus effect
Snap reported 1Q 2020 earnings results after market close Tuesday. …read more […]
Month: April 2020
Business News
Chipotle reports 16% drop in March same-store sales
Chipotle Mexican Grill Inc on Tuesday reported a 16% fall in March same-store sales, as the coronavirus pandemic forced the company to keep its restaurants closed to diners.
Business News
Brent oil futures plunge as growing glut feeds market panic
Brent oil futures prices plunged again on Tuesday, extending the oil market’s panic into a second day with no end in sight to a swelling global crude glut as the coronavirus pandemic has obliterated demand for fuel.
Business News
Snap shares rise 19% as coronavirus spurs use, revenue growth beats Street
Snap Inc on Tuesday beat Wall Street estimates for quarterly revenue and user growth for its Snapchat app, as more people seek entertainment while they stay at home during the global coronavirus pandemic.
Business News
Wall Street tumbles as oil crash stirs pandemic fears
Wall Street tumbled for a second straight day on Tuesday as a collapse in U.S. oil prices and glum forecasts by companies worsened fears of a deep economic downturn.
Business News
Netflix adds more subscribers in first quarter, shares rise
Netflix Inc on Tuesday reported more paid subscribers than expected in the first quarter, as global lockdowns to curb the spread of the novel coronavirus forced people to stay at home and watch shows online including its wildly popular “Tiger King.”
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Chipotle reports strong Q1 sales, withdraws guidance
Chipotle’s first-quarter revenue was boosted by strong digital sales amid the coronavirus pandemic. …read more […]
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Goldman Sachs Sees Doom and Gloom in These 3 Tech Stock Giants
Wall Street observers hoped last week’s gains signaled the arrival of blue skies, but the COVID-19 storm is thundering on. Stocks started the week on the back foot as U.S. crude futures landed in the red for the first time in history. The lockdowns across the world have done away with the demand for crude, causing oil supply to surge.Against this backdrop, investment firm Goldman Sachs is taking stock of the names in its coverage universe, noting that COVID-19-induced social distancing measures have taken a “severe” toll on some of its companies’ end markets. Additionally, the firm argues that the …read more […]
Business News
Oil giveaway spells doom, brings out market bears
The crash in U.S. crude prices has turned a reliable commodity less than worthless and given fresh urgency to bearish voices, who say it sounds alarm bells for global growth and are bracing for a catastrophic collapse in asset prices.
Business News
U.S. Senate deal does not extend assistance to local news outlets
A nearly $500 billion spending deal reached by U.S. Senate leaders on Tuesday does not expand payroll assistance to struggling local newspapers and broadcast stations, whose advertising revenues have plummeted during the coronavirus pandemic.
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Jefferies boosts Amazon price target to Wall Street high
Jefferies lifted its price target for Amazon to a Wall Street high on Tuesday, as the online retailer continues to benefit from the coronavirus pandemic. Yahoo Finance’s Dan Howley joins Seana Smith to break down the details. …read more […]
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Business News
Ripple sues YouTube over cryptocurrency scams
Blockchain firm Ripple sued Alphabet Inc’s YouTube on Tuesday, alleging the video-sharing platform failed to protect consumers from cryptocurrency “giveaway” scams that use fake social media profiles to dupe victims into sending money.
Business News
Strained U.S. mortgage firms get support but push for liquidity facility
The U.S. housing regulator on Tuesday provided some long-awaited relief for mortgage firms facing billions of dollars of missed home loan repayments, although industry officials said more liquidity assistance was needed.
Business News
California regulator wants PG&E reorganization plan changes, proposes $2 billion fine
A California regulator has asked PG&E Corp for governance and oversight changes to its reorganization plan, while proposing about $2 billion in penalties for the San-Francisco based utility’s role in causing the devastating 2017 and 2018 wildfires in California.