Twitter, in another policy flip-flop, unblocked the New York Post’s account Friday after a 16-day freeze over the newspaper’s series of disputed stories on Hunter Biden. “How Tweet It Is: Twitter Backs Down, Unlocks Post’s Account,” the newspaper gloated in the headline on its story on the issue. The Post had accused Twitter of holding […] …read more […]
The boys’ mother, Shanell McGee, already had her cell phone switched off and feared she could soon face eviction from their $840-a-month apartment. Just 14 miles northwest of McGee’s neighborhood, Kiki Kullman is having one of the best years of her life. The real-estate business she runs with her family just sold the highest-priced house in its history: a 13,000-square-foot estate, listed for $4.5 million, that came with an elevator and a classic-car showroom. …read more […]
As restrictions tightened in Europe amidst rising new coronavirus cases, U.S. stocks went into a tailspin this week. Of course, the aviation sector wasn’t spared, and despite better than expected Q3 earnings, neither was Boeing (BA). The stock ended the week down 14%, further adding to 2020’s poor performance. Expectations were low heading into the quarter’s print, and despite posting a fourth consecutive quarterly loss, Boeing’s third-quarter results came in ahead of Wall Street estimates.Revenue dropped by 29.4% year-over-year, yet at $14.1 billion still beat the Street’s forecast by $140 million. The loss on the bottom line wasn’t as bad …read more […]
Shares of Qualcomm (QCOM) might have dropped along with the broader market in this week’s bloodbath, but the decline was counterbalanced by some good news.The U.S. Court of Appeals for the Ninth Circuit sided with Qualcomm when denying the FTC’s (Federal Trade Commission) request for an en banc hearing.The FTC filed its petition on Sep 25 following the Ninth Circuit Appellate Court’s ruling to reverse a lower-court decision against Qualcomm.Qualcomm had originally lost an antitrust case against the FTC after it accused the chipmaker of anticompetitive patent licensing in an attempt to tighten its grip on the smartphone modem chip …read more […]
(Bloomberg) — It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly earnings: “Prices will have to rise.”After months of low oil and gas prices driven by weak demand, the world’s largest international oil companies have largely exhausted their financial defenses, leaving little room to maneuver if they’re dealt further blows. Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, Total SE and BP Plc have already reduced 2021 spending probably to as much as they can.With the exception of …read more […]
The markets were in turmoil this week, with all three major indexes in the red. The specter of further European lockdowns amid rising coronavirus cases, the uncertainty surrounding the upcoming US election, and the mixed earnings results from the FAANG group, all resulted in Wall Street’s worst week since March.Among the very few outliers, shares of General Electric (GE) have managed to weather the market storm, after investors applauded the industrial heavyweight’s surprisingly solid earnings display.Specifically, GE delivered 3Q revenue of $19.4 billion, beating the Street’s forecast by $460 million. Non-GAAP EPS of $0.06 came in ahead of the estimates …read more […]
It was a busy week at Advanced Micro Devices’ (AMD) HQ. Q3 earnings, and confirmation of a $35 billion Xilinx takeover have been followed by a new product launch.On Wednesday, AMD announced the release of the first products based on its gaming optimized RDNA 2 architecture: The Radeon RX 6800, the Radeon RX 6800 XT and the Radeon RX 6900 XT, priced at $579, $649 and $999, respectively. Code named Big Navi, the desktop GPUs will hit the shelves on November 18 (RX 6800 and 6800 XT) and December 8 (RX 6900 XT).“Importantly,” said Deutsche Bank analyst Ross Seymore, “This …read more […]
First off, please mark your calendar to join me and Bryan LIVE on Wednesday, November 4, at 1 p.m. ET for our first-ever Election Survival Summit, an action-packed discussion on what you should do with your money.
Will we know who the next president will be? Perhaps…
The markets could be going nuts like Black Friday at Walmart or staying as calm as a Wisconsin lake in mid-August. We just don’t know, and that is why we’ll be live, analyzing the markets in real time, assessing where to deploy capital and where to pull back from.
You don’t want to miss it. Click …read more […]
If there were any doubts left about whether the market would be “risk-on” or “risk-off” going into the election, Friday’s selloff pretty much iced it. The toggle has switched to the off position.The late-week meltdown ignited after earnings from four of the five FAANGs that were mostly positive, but perhaps lacking in the guidance department (see more below). Combine that with the resurgence of COVID-19, the Senate adjourning with no more progress on a stimulus package, and the culmination of a long and contentious election season, and it’s no wonder investors seem ready for a break. Even before FAANG earnings …read more […]
Vaccine specialist Moderna (MRNA) reported its fiscal Q3 2020 financial results Thursday morning. Let’s run down the basic financial news first, and turn to the vaccine that everyone really wants to hear about: Q3 was kind of a weird quarter for Moderna from a financial perspective. On the one hand, an explosion in grant revenue tied to the COVID-19 pandemic sent revenues soaring 830% to $157.9 million. On the other hand, though, expenses soared as well — up 166% to $393 million.And because $393 million is more than $157.9 million Moderna lost money.A lot of money.$0.59 per share to be …read more […]