Business News
Qualcomm says China virus threatens phone industry disruption
Qualcomm Inc raised concerns around the threat to the mobile phone industry’s supply chain from the coronavirus outbreak in China, dragging down shares.
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Business News
Yum China warns coronavirus outbreak to hit 2020 sales, profit
Yum China Holdings Inc said on Wednesday its 2020 sales and profit would take a hit, as the coronavirus outbreak has forced the fast food restaurant operator to temporarily shut more than 30% of its stores.
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“Gasmaggedon” Sweeps Over Global Gas Market
China’s state-owned gas importers are considering declaring force majeure on LNG imports, which would amplify the turmoil in global gas markets …read more […]
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Senate has votes to acquit Trump
After six months, the Trump impeachment trials are drawing to a close as the Senate has enough votes to acquit Trump of abuse of power by 52-48. …read more […]
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Qualcomm Projects Sales That Top Estimates on Pickup of 5G
(Bloomberg) — Qualcomm Inc. gave a strong sales forecast for the current quarter, indicating new high-speed wireless networks are starting to fire up demand for pricier smartphones.Revenue will be $4.9 billion to $5.7 billion in the period ending in March, the San Diego-based company said Wednesday in a statement. Analysts, on average, estimated $5.1 billion, according to data compiled by Bloomberg. Fiscal first-quarter sales and profit also beat estimates.The forecast is more evidence of Qualcomm’s confidence that fifth generation, or 5G, networks will expand quickly this year and spur mobile phone upgrades to take advantage of faster data speeds. Chief …read more […]
Business News
S&P 500, Nasdaq mint record highs after strong U.S. data, waning virus fears
The benchmark S&P 500 posted a record closing high on Wednesday as U.S. stocks rallied for a third straight day on encouraging U.S. economic data and waning fears of the financial fallout from the corona virus in China.
Business News
With lipsticks, Hermes branches into competitive cosmetics world
France’s Hermes said on Wednesday it would start selling make-up from March, as the brand best known for its pricey Birkin handbags branches into a competitive beauty industry where its luxury rivals include Chanel.
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Peloton shares plunge after disappointing fourth-quarter earnings report
Shares of fitness equipment manufacturer, Peloton tumbled in after-hours trading on Wednesday, after the company’s fourth-quarter earnings report disappointed investors. The Final Round panel breaks down the latest. …read more […]
Business News
Fed looking into central bank digital coins, Brainard says
The Federal Reserve is looking at a broad range of issues around regulations and protections for digital payments and currencies, including the costs and potential benefits of issuing its own digital currency, Governor Lael Brainard said on Wednesday.
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Can Boeing’s Dividend Navigate Stormy Weather?
Editor’s Note: Today’s Safety Net comes from Financial Research Associate Andrew Hubbarth.
– Mable Buchanan, Assistant Managing Editor
Boeing Co. (NYSE: BA) has made headlines over the past year and a half for all the wrong reasons.
In October 2018, Lion Air Flight 610 crashed in Indonesia, and in March 2019, Ethiopian Airlines Flight 302 also crashed minutes after takeoff.
These tragedies resulted in 346 people losing their lives and the eventual grounding of all Boeing 737 Max planes worldwide. Anti-stall and flight control software malfunctions and the need for proper pilot training were cited as reasons for the crashes.
The 737 Max grounding set …read more […]
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Elon Musk Loses $5.9 Billion as Tesla Succumbs to the Laws of Gravity
(Bloomberg) — Elon Musk’s fortune is coming back down to Earth.After an epic six-day rally, Tesla Inc. shares tumbled 17% Wednesday, the most in eight years, cutting the chief executive officer’s fortune by $5.9 billion. The stock had surged to a record close of $887.06 a day earlier, rocketing Musk to No. 20 on the Bloomberg Billionaires Index, just past John and Jacqueline Badger Mars, the owners of candy-maker Mars Inc.Musk, 48, ended the day at No. 25 on the ranking with a net worth of $39.3 billion. He started the year at No. 35.Even before the plunge, investors and …read more […]
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MetLife profit rises 37% on higher premiums, net investment income
U.S. insurer MetLife Inc reported a 37.3% jump in quarterly adjusted profit on Wednesday, helped by higher premiums and a rise in net investment income. Life insurers make money by investing coverage premiums into stocks and bonds, hoping to earn more than what they pay out in claims. Premiums and fees rose 24% to $13.76 billion in the quarter. …read more […]
Business News
S&P 500 posts record high on strong economic data, ebbing virus fears
The benchmark S&P 500 posted a record closing high on Wednesday as U.S. stocks rallied for a third straight day on encouraging U.S. economic data and waning fears of the financial fallout from a virus out of China.
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Yacktman Asset Management's Top 4 Buys in the 4th Quarter
Firm boosts positions in media companies, Macy’s and Buffett’s conglomerate Continue reading… …read more […]
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Qualcomm forecasts current-quarter revenue above estimates
Qualcomm Inc forecast second-quarter revenue largely above Wall Street estimates on Wednesday, in the latest sign that a protracted slowdown in chip industry has bottomed out.