Business News
U.S. says has addressed residual seasonality in GDP data
U.S. government statisticians say they have addressed a methodology problem, which analysts had argued tended to understate economic growth in the first quarter.
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Business News
Dollar index trims gain after robust U.S. GDP data
The dollar pared its earlier gains against a basket of currencies on Friday as data showed the U.S. economy expanded at its fastest clip in nearly four years but they did not quell worries the pace of growth would slow due to tariffs.
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GDP soars to 4.1% in second quarter
Yahoo Finance’s LIVE market coverage and analysis of what you need to watch in the stock market begins each day at 9:25 a.m. ET. …read more […]
Business News
Exxon Mobil quarterly profit jumps 18 percent on higher oil prices
Exxon Mobil Corp , the world’s largest publicly traded oil producer, said on Friday its quarterly profit jumped 18 percent as rising crude prices offset falling production.
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Twitter to prioritize fixing platform over user growth, shares plunge
Twitter Inc (TWTR.N) on Friday reported fewer monthly active users than analysts expected and warned that the closely-watched figure could keep falling as it deletes phony accounts, sending shares sharply lower in early trading. The company said the work it was doing to clean up Twitter by purging automated and spam accounts had some impact on its user metrics in the second quarter, and that it would prioritize improving suspicious accounts and reducing hate speech and other abusive content over projects that could attract more users. Twitter, like bigger rival Facebook Inc (FB.O), has been under pressure from …read more […]
Business News
Merck profit beats on Keytruda strength, raises full-year forecast
Drugmaker Merck & Co on Friday raised its full-year profit forecast after beating Wall Street estimates for quarterly profit as sales of blockbuster cancer drug Keytruda nearly doubled.
Business News
Twitter to prioritize fixing platform over user growth, shares plunge
Twitter Inc on Friday reported fewer monthly active users than analysts expected and warned that the closely-watched figure could keep falling as it deletes phony accounts, sending shares sharply lower in early trading.
Business News
Mastercard reiterates FY expenses outlook
(This version of the July 26th story corrects to say company reiterated its full-year expense forecast, not raised the full-year expense forecast in headline and paragraphs 1, 2)
Business News
Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates – sources
China plans to put more money into infrastructure projects and ease borrowing curbs on local governments to help soften the blow to the economy from the Sino-U.S. trade war, policy sources told Reuters.
Business News
Amazon lifts futures, GDP data awaited
U.S. stock index futures rose on Friday as Amazon’s robust earnings buoyed the flagging FAANG group of high-flying stocks and ahead of a potentially strong U.S. gross domestic product (GDP) data.
Business News
Drugmaker Merck’s quarterly profit beats as Keytruda sales surge
Drugmaker Merck & Co topped Wall Street estimates for quarterly profit on Friday as sales of blockbuster cancer drug nearly doubled and the company raised its full-year profit outlook.
Business News
Instagram not an instant fix for ailing Facebook
Revenue forecasts from Facebook Inc that alarmed investors, fueling the worst day ever for its shares on Thursday, add to the pressure on its Instagram unit to win over more of the ad buyers that have long found success on the company’s flagship app.
Business News
Merck’s quarterly profit falls 12 percent
Drugmaker Merck & Co reported a 12.3 percent fall in quarterly profit on Friday, as research and development expenses rose.
Business News
Twitter beats estimates on revenue but monthly usage falls
Twitter Inc posted record profit on Friday with second quarter revenue that beat financial analysts’ estimates and said penalizing misbehaving users this year had paid off even though monthly usage had dropped.
Business News
Sell long-in-the-tooth FAANGs, build up BRICs, say analysts
Investors poured $600 million in to U.S. technology stocks in the week leading up to poor results from Facebook , according to Bank of America Merrill Lynch (BAML) analysts, urging clients to sell the sector on signs inflows have reached bubble territory.