Trading Ideas
Facebook loses $120 billion in market cap after awful Q2 earnings
Facebook’s share price fell over 20 percent in after-hours trading today …read more […]
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Trading Ideas
Gilead CEO Milligan, Chairman Martin to step down
Gilead Sciences Inc said on Wednesday that Chief Executive Officer John Milligan and Chairman John Martin will step down as soon as the end of the year, ending a nearly 30-year run at the U.S. biotech company for both men. Shares of Gilead, which also announced higher-than-expected second quarter profit, fell more than 1.6 percent in extended trading. It said the board is launching a search for a CEO to replace Milligan, who plans to leave at year-end. …read more […]
Business News
Mattel disappoints with second-quarter results, announces job cuts
Mattel Inc’s quarterly sales missed analysts’ estimates on Wednesday, weighed down by the absence of a big movie tie-in in the quarter, while the liquidation of key customer Toys ‘R’ Us continued to hurt the U.S. toy maker.
Business News
Facebook stock falls 24 percent on forecast for slowing growth, rising expenses
Facebook Inc’s stock fell as much as 24 percent after hours on Wednesday over concerns about the impact of privacy issues on the social media company’s business, with executives warning that revenue growth would slow and expenses would rise.
Business News
German industry warns US auto tariffs not completely off table yet
A top German industry group gave a cautious welcome to solutions proposed by U.S. President Donald Trump and European Commission President Jean-Claude Juncker to avert a trade war, but warned that U.S. auto tariffs were not completely off the table yet.
Business News
Trump, EU leader pledge to cut trade barriers, hold off on further tariffs
U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, agreed on Wednesday to work toward eliminating trade barriers on industrial goods, as Trump appeared to give ground on his threat to impose car tariffs.
Business News
Facebook forecast for slowing growth, rising expenses sends stock down 22 percent
Facebook Inc on Wednesday warned revenue growth would slow in the second half of the year and said that expenses would grow faster than revenue next year, sending shares down as much as 22 percent over concerns about the impact of privacy issues on the social media company’s business.
Business News
Tariffs ding Detroit automakers’ profit forecasts, stocks hit
Detroit automakers General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles NV (FCA) lowered their full-year profit forecasts on Wednesday due to escalating tariffs, hitting their stocks as investors bet that escalating trade disputes would hurt margins and sales.
Trading Ideas
Qualcomm Expects Apple to Ditch Its Modems for the Next iPhones
Qualcomm Inc. Chief Financial Officer George Davis said Apple Inc. likely won’t use its cellular modems in the next iPhones, cutting the chip maker out of one of the consumer electronics industry’s best-selling products. In prepared remarks during an earnings call with analysts Wednesday, the CFO said Qualcomm expects Apple to use a competitor’s modem in the new iPhones and will only use Qualcomm’s modems in older models. Apple sometimes buys parts from suppliers without indicating which specific products they will be put into. …read more […]
Trading Ideas
Facebook lost one million monthly active users to GDPR
The European Union’s General Data Protection Regulation had a tangible impact …read more […]
Trading Ideas
How Worried Should Investors Be About Facebook's Slow Q2 User Growth?
Shares of Facebook (FB) sank after the company reported lower-than-expected earnings and revenue results in the second quarter. Investors were also likely upset to see some of Facebook’s user figures. …read more […]
Business News
Qualcomm walks away from NXP deal as China-U.S. trade tensions grow
Qualcomm Inc , the world’s biggest maker of chips for mobile phones, said on Wednesday it would drop its bid to buy Dutch chipmaker NXP Semiconductors after failing to secure regulatory approval from China against a backdrop of widening trade tensions.
Business News
Wall St. rises as Trump touts EU trade concessions
Wall Street’s major indexes rose on Wednesday as U.S. President Donald Trump secured concessions from the European Union on trade.
Business News
Mondelez profit beats on higher chocolate sales, cost controls
Mondelez International Inc on Wednesday reported a better-than-expected quarterly profit as it sold more Cadbury chocolates and Oreo biscuits in Europe and North America, while keeping a lid on costs.
Business News
Chipmaker AMD’s second-quarter revenue, profit tops estimates
Advanced Micro Devices Inc beat analysts’ estimates for quarterly profit and revenue on Wednesday, as a rare surge in demand for personal computers boosted sales of its processors as well as graphics chips used in computers and data centers.