- Bill McColl at Hot Stock Minute14 hrs ago
The new economy is getting a big boost today, and it may be a sign of things to come.
Various reports say Airbnb-- the online apartment-sharing company-- is now worth $13 billion dollars, $3 billion greater than it was priced at just six months ago. That would value Airbnb at more than some big hotel chains such as Hyatt (H) and Wyndam (WYN).
Airbnb has turned the industry on its head, allowing anyone to convert his or her home into a hotel. And Yahoo Finance Senior Columnist Michael Santoli believes the company’s success means we could be seeing a sea change in the way other businesses operate as well.
“Everything is next if the valuations make any sense at all,” he says. “People are going to think that we can go back to this ‘everybody’s an entrepreneur, everybody can be an artisan and not have to work for some big organization.’ Obviously, we’re in this mode of thinking that there are basically no limits to this model in other industries.”
- Kathy Cherpelis at Hot Stock Minute15 hrs ago
Earnings still high on the agenda on Wall Street this morning.
UPS (UPS) delivered on both earnings and revenue, with both top and bottom line topping expectations. Revenue rose nearly 6% from a year earlier as it saw strength across all its businesses. UPS also said it expects shipments in December to rise 11%. UPS shares got a lift on the news in early trading.
Procter & Gamble (PG) shares are also on the move this morning. The consumer products giant posted earnings that came in-line with estimates, but revenue slightly misses forecasts. P&G also said it will be splitting off its Duracell battery business into a separate company to focus on its more profitable brands.
- Yahoo Finance at Hot Stock Minute17 hrs ago
Stocks are pushing forward and are on pace for a big weekly gain after wobbling at the open.
Investors seem to brushing off the first reported case of Ebola in New York City and instead focusing their attention on another batch of better-than–expected earnings and strong data on housing.
The Commerce Department said sales of new single-family homes jumped to a six-year high last month, up 0.2% to 467,000 units.
However, o ne earnings report that was a big disappointment was Amazon ( ). Shares got hit hard after the online retailing giant reported one of its worst quarterly losses in history despite a 20% increase in revenue. But even that number fell short of estimates. And what might be even more disconcerting to Wall Street--Amazon is warning sales during the all-important holiday shopping quarter may not be so rosy, either.
Microsoft ( ) stock moved closer to its yearly high of $47.57 a share in early trading. The tech giant reported earnings and revenue that glided past forecasts last quarter thanks to a recent comeback in personal computer sales and strong demand for its cloud software and services.
- Bill McColl at Hot Stock Minute1 day ago
General Motors (GM) may be seeing the light at the end of the tunnel following this year’s massive recall related to defective ignition switches.
The carmaker says in a press releasethird-quarter sales were up 2%, the biggest increase during that time period since 1980. GM’s earnings of 97 cents a share topped analysts’ forecasts, although revenue came in a bit light at $93.09 million.
Yahoo Finance Senior Columnist Michael Santoli thinks the initial positive reaction from Wall Street to the news suggests GM could finally be putting the recall problems in the rear view mirror.
“The market may be saying this is a clean enough quarter, there’s not a lot of huge recall-related charges and that maybe they’re on the back end of this process,” he says.
Santoli adds investors have been watching for signs the company has overcome its recall woes.
- Kathy Cherpelis at Hot Stock Minute1 day ago
Earnings continue to dominate the scene on Wall Street this morning
Caterpillar (CAT) shares got a big lift in early trading. The big equipment maker blowing the doors off third quarter earnings and revenue forecasts. "CAT" is also raising its full year forecast.
3M (MMM) shares rose before the bell. The industrial conglomerate behind such products and Post-it notes posted earnings that topped analysts' estimates. However, revenue missed expectations and the company narrowed its full year financial targets due to fluctuations in the currency markets.
General Motors (GM) shares raced ahead in premarket trading. The carmaker beat profit estimates although revenue came in a bit light. Global sales in the period were up 2%, the best third-quarter increase since 1980! Of course, GM is trying to recover from this year's massive recall related to faulty ignition switches.
- Yahoo Finance at Hot Stock Minute1 day ago
Stocks resuming their winning streak this morning after hitting the pause button yesterday,
The Dow Jones Industrials (^DJI) which is home to Caterpillar (CAT) is leading the advance after the maker of industrial equipment posted earnings and revenue that blew past forecasts . "CAT" also raised its outlook for the year.
Another Dow Component also posting an earnings beat. 3M (MMM) reported profits that topped analysts' estimates. However, revenue missed expectations and the company narrowed its full year financial targets due to fluctuations in the currency markets.
- Yahoo Finance at Hot Stock Minute2 days ago
It’s still more than a week before Halloween, but the holiday shopping season apparently is already underway. And for consumers looking to save money, this could be a banner year for online purchases.
That’s because Target (TGT) says beginning today, it will offer free shipping on all purchases through December 20 th . And Yahoo Finance Editor-in-Chief Aaron Task thinks they won’t be alone for very long.
“I would not be surprised if Wal-Mart (WMT) and other big retailers try to match this because for the retailers, it’s dog-eat-dog out there,” he says. “So any edge Target has out there won’t last long, because the competition is going to match it.”
Task sees the totally-free shipping as just another gimmick to get our attention during the most important time of the year for retailers.
- Kathy Cherpelis at Hot Stock Minute2 days ago
Earnings continue to be in focus this morning on Wall Street.
Boeing (BA) shares were higher in early trading after the aerospace giant reported earnings and revenue that handily beat estimates. Revenue rose more than 7% from a year earlier thanks to strong demand for its passenger jets. The company also raised its earnings outlook for the year.
Yahoo (YHOO) shares soared ahead of the bell after the internet giant posted earnings and revenue that topped analysts' estimates. Yahoo benefited from selling shares in Chinese e-commerce giant Alibaba (BABA) last month, in which it still holds about a 16% stake. The company also saw growth in mobile advertising last quarter, but its online advertising business continues to struggle. Yahoo is the parent company of Yahoo Finance.
- Yahoo Finance at Hot Stock Minute2 days ago
Stocks are struggling to make headway after yesterday’s rally. Investors getting hit with another wave of earnings this morning and data on consumer inflation.
The cost of living only edged up only slightly last month, showing inflation is very much under control.
The Labor Department reported the consumer price index rose 0.1% last month after dipping 0.2% in August. Stripping out the volatile food and energy sector, the so called core rate also rose 0.1% in September.
Something else tied to the consumer price index will be going up, 64 million Americans who receive social security benefits will see a small bump in their checks next year. The cost of living increase covers a rise in consumer prices and translates to a little over $20 more a month for the average retiree on social security.
Earnings also continue to pour in on Wall Street. Boeing ( BA ) reported earnings and revenue that handily beat estimates. Revenue rose more than 7% from a year earlier thanks to strong demand for its passenger jets. The company also raised its earnings outlook for the year.
- Kathy Cherpelis at Hot Stock Minute3 days ago
Here is a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Investors adding Apple (AAPL) to their cart ahead of the bell. Strong demand for its iPhones helped Apple offset sluggish iPad sales last quarter. The tech giant reported earnings and revenue that smashed through Wall Street estimates. Revenue rose 12% from a year earlier as it sold more than 39 million iPhones.
In other earnings news, Chipotle (CMG) warned that its hot sales streak may be cooling off next year. That comes despite reporting strong same-store sales growth last quarter. Earnings and revenue also beat analysts' estimates. Shares of Chipotle were lower in early trading.
Meantime, McDonald's (MCD) continues to struggle with sales growth. The world’s largest fast-food chain said revenue fell short of estimates in the third quarter as sales dipped more than 3%. However, McDonald’s earnings per share did top forecasts. McDonald’s shares fell in pre-market trading.