Ride-hailing firm Lyft Inc said on Tuesday that rides on its platform rose 26% in May from the previous month, with strong growth from cities where coronavirus-induced restrictions have been eased.
Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people.
Twitter Inc said on Tuesday that it appointed Patrick Pichette as chair of the social network’s board of directors, replacing Omid Kordestani.
An advocacy group backed by the tech industry filed a lawsuit on Tuesday against President Donald Trump’s executive order on social media, as U.S. technology companies have been fighting White House efforts to weaken a law that protects them.
Zoom Video Communications Inc nearly doubled its expectations for annual sales on Tuesday, riding on a surge in usage of its video conferencing platform due to coronavirus-driven lockdown measures globally.
In 1996, California became the first state to legalize medical marijuana.
In the decades since, cannabis legalization has expanded to 33 states and the District of Columbia.
Today, more than 60% of the U.S. population lives in states where medical cannabis is legal. And it’s estimated that as many as 115 million people have ailments that could potentially be treated by the medicine.
The country has been on lockdown for the past two months because of COVID-19. And we know the devastating effect that’s having on the broader economy.
But investors also want to know what impact that’s having on the cannabis industry.
So I …read more […]
(Bloomberg) — Zoom Video Communications Inc. reported quarterly sales that topped estimates, showing that a surge in demand for its video-conference service during the coronavirus pandemic has translated into more paying customers. The company also raised its annual revenue forecast by almost double.Revenue increased about 170% to $328.2 million in the period that ended April 30, the San Jose, California-based company said Tuesday in a statement. Analysts, on average, expected $203 million, according to data compiled by Bloomberg. Profit, excluding some items, was 20 cents a share, compared with analysts’ average projection of 9 cents.Zoom projected revenue of as much …read more […]
After the last financial collapse, Wells Fargo’s dividend history took a hit. In 2009, the company cut its quarterly dividend from $0.34 to $0.05. Then in 2011, Wells Fargo started raising it again. Each year since, the big bank has started rewarding shareholders with more income.
Wells Fargo (NYSE: WFC) survived the last collapse with flying colors. It’s been one of the safest banks to own. Over the past decade it has had some setbacks, along with the recent financial sector tumble, but this creates a better buying opportunity.
With the drop in share price, the dividend yield has climbed above 7%. …read more […]
A Washington-based advocacy group on Tuesday asked a U.S. judge to invalidate an executive order on social media companies President Donald Trump signed last week claiming it violates the First Amendment.
Facebook CEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest.
Wall Street posted gains on Tuesday as market participants looked past widespread social unrest and pandemic worries to focus instead on easing lockdown restrictions and signs of economic recovery.
French luxury goods group LVMH’s board called a meeting in Paris to discuss its $16.2-billion offer for Tiffany & Co amid a deteriorating situation in the U.S. market, fashion trade publication WWD reported https://wwd.com/business-news/mergers-acquisitions/lvmh-tiffany-deal-seen-as-uncertain-sources-1203645650 on Tuesday, citing sources.
The Washington-based Center for Democracy and Technology filed a lawsuit on Tuesday against U.S. President Donald Trump’s executive order on social media, arguing it violates the First Amendment.
Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman said on Tuesday.
Oil prices climbed by more than $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.
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