Business & Finance News
Google parent Alphabet Inc on Thursday reported slower third-quarter revenue growth than analysts had expected, with ad sales barely topping estimates and other revenue missing forecasts, sending shares down more than 4 percent after hours.
So-called FANG stocks and other tech shares sank in extended trade on Thursday following disappointing quarterly reports from Amazon.com Inc and Alphabet Inc .
Activist investor Third Point LLC sued Campbell Soup Co on Thursday, alleging the soup and snack maker’s board misled investors about the competence of its directors and the way it carried out a recently completed strategic review.
Google Inc Chief Executive Sundar Pichai said on Thursday the company had fired 48 employees for sexual harassment over the past two years.
Chipotle Mexican Grill Inc topped Wall Street estimates for third-quarter profit, as the burrito chain’s renewed marketing efforts and refreshed menu helped it rebound from a series of food-safety lapses that had kept diners away.
Snap Inc lost more users than Wall Street expected in the third quarter as it continued to grapple with an unpopular redesign of its Snapchat photo-messaging app and fierce competition from Facebook’s Instagram.
A prominent Republican on the U.S. Senate Agriculture Committee complained on Thursday about Chinese-owned Smithfield Foods Inc receiving aid from the U.S. Department of Agriculture meant to help American farmers hurt by China’s trade tariffs.
So-called FANG stocks dropped in extended trade on Thursday following disappointing quarterly reports from Amazon.com Inc and Alphabet Inc , two of the group’s components.
Amazon.com Inc forecast disappointing holiday season sales on Thursday, projecting its fourth-quarter revenue growth would be the slowest in years, sending shares of the online retailer down 6 percent in after-hours trade.
Mattel Inc reported a surprise rise in North American sales, allaying concerns about the effects of retailer Toys ‘R’ Us’ liquidation on the toy industry and driving its shares up 8 percent on Thursday.
U.S. stocks climbed back on Thursday after a massive sell-off the day previous, with strong earnings encouraging investors to venture into risky bets again, while the dollar gained on the euro.
Amazon.com Inc’s third-quarter sales missed analyst estimates and it forecast sales and operating income for the current quarter below estimates, sending shares of the online retailer down more than 5 percent in late trade.
Google parent Alphabet Inc on Thursday missed analysts’ estimates for third-quarter revenue and rising expenses trimmed its operating margin for the third straight quarter.
Chipotle Mexican Grill Inc reported quarterly same-restaurant sales that fell short of Wall Street expectations on Thursday, as diners were still hesitant about returning to the burrito chain following a string of food-safety incidents.
Chevron Corp has held talks to acquire Pasadena Refining System Inc (PRSI), a Texas oil refining unit of Brazilian state-run oil firm Petroleo Brasileiro SA , three people familiar with the matter said this week.
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