- TechCrunch•43 minutes ago
Amazon up 7% following earnings beat
Amazon reported first-quarter earnings after the bell on Thursday, sending shares up 7% in after-hours trading after its significantly better-than-expected report. The company reported earnings per share of $3.27, well above the $1.26 that analysts had been expecting. The growth was driven by its Amazon Web Services (AWS) cloud computing business, which was up 49% year-over-year, accounting for $5.4 billion in revenue.
InvestorPlace•5 hours ago7 Stocks Goldman Sachs Thinks Are Set to Rip Higher
With the market in gridlock, Goldman Sachs has identified 30 stocks with big upside potential. Goldman says trade tensions and rate decisions “[have] made the environment difficult for stock pickers.” But don’t panic! For the best alpha generation opportunities, the firm recommends picking stocks that are more correlated with company specifics rather than general market forces. As a result, all the stocks here have a “Strong Buy” Street consensus rating based only on the last three months.
- MarketWatch•4 hours ago
Ford says only Mustang, Focus will live on in North America as it drops slow-selling sedans
Ford Motor Co. said Wednesday it will stop investing in sedans in North America, bowing to U.S. drivers’ seemingly never-ending zest for crossovers and pickup trucks. Ford F, +2.61% shifted focus on “building a winning portfolio” of vehicles, by which it meant no more of its slow-selling sedans at least for North America. U.S. drivers have gravitated to SUVs and pickup trucks for years, thanks in part to these vehicles’ relative fuel economy improvements and price drops. Many car buyers also report enjoying the high-riding seating position of an SUV or pickup truck. “Ford realized it can’t be everything to everyone, and in today’s market that could be OK,” said Jessica Caldwell, an analyst with
- CNBC Videos•8 hours ago
AMD CEO: Blockchain is here to stay but a bit of a distra...
Lisa Su, Advanced Micro Devices CEO, discusses the company's big quarterly beat, growth in gaming and her outlook on blockchain.
- barrons.com•4 hours ago
AT&T Yield Rises Above 6% as Shares Plunge
AT&T (T) shares are down sharply, falling 2.38, or 6.8%, to $32.82 today amid investor displeasure with the company’s earnings report yesterday. The report showed weaker than expected margins in the company’s wireless business and greater than expected subscriber losses in its satellite TV operations. The dividend yield on AT&T shares has moved above 6% today as the stock approaches a 52-week low reached last November. AT&T is now ninth-highest-yielding stock in the S&P 500 index—and the highest-yielding mega-cap stock in the index. The current yield is now 6.1%. The drop in AT&T shares is weighing on shares of Time Warner (TWX), which are off $2.52 to $93.76, because nearly half the consideration
- MarketWatch•4 hours ago
GE dealt another blow by Moody’s as shareholders line up to slam CEO Flannery
In the latest blow to beleaguered blue chip General Electric Co., Moody’s Investors Service on Wednesday revised its outlook on the company’s ratings to negative, meaning it could downgrade it in the medium term. The move “reflects the added headwinds to restoring GE’s credit profile as a result of the $1.5 billion reserve that GE recorded in relation to the investigation by the Department of Justice of possible violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (”FIRREA”) by WMC, GE Capital’s discontinued mortgage business,” the rating agency said in a note. Read now: Are you smart or foolish to buy GE stock right now? Don’t miss: Investors shouldn’t get ahead
- InvestorPlace•6 hours ago
Altria Group Inc (MO) Stock Hangs On for Another Quarter
After Philip Morris International Inc. (NYSE:PM) delivered disappointing first quarter numbers last week, Altria Group Inc (NYSE:MO) shareholders were tacitly waiting to hear their serving of quarterly bad news on Thursday morning. Altria’s gotten very, very good at keeping more and more plates spinning though, shrugging off a smoking cessation movement that’s just never going to go away. For the quarter ending in March, Altria earned an operating profit of 95 cents per share on revenue of $6.1 billion, up from a year-earlier top line of just a bit less than $6.1 billion, when it posted a profit of only 73 cents per share.
Reuters•17 hours agoQualcomm easing licensing terms in bid to strike deals
Qualcomm Inc's earnings call on Wednesday showed just how far the company is willing to go to preserve one of its core business practices of taking a cut of the selling price of phones. Qualcomm gave two indications on Wednesday it was prepared to accept lower revenue in exchange for maintaining the business structure and avoiding future customer disputes. On Wednesday, Qualcomm said it would cap the phone price that is the basis of the revenue calculation at $400.
- Bloomberg•10 hours ago
Southwest Airlines Ticket Sales Drop After Fatal Accident
Southwest Airlines Co. said a drop in travel bookings that followed its first passenger fatality could cost the carrier as much as $100 million. The slide in ticket sales will drive revenue from each seat flown a mile, a gauge of pricing power, down by 1 percent to 3 percent in the current quarter, the discount carrier said in a statement Thursday. Southwest blamed as much as two percentage points of the decline on weak sales after an engine exploded in flight April 17, piercing the plane and killing a passenger. The sober outlook contrasted with those of rival airlines, which have predicted increases in the revenue gauge of as much as 5 percent. Southwest also faces pressures from aircraft retirements
Yahoo Finance•2 days agoWarren Buffett explains how you could've turned $114 into $400,000 with a simple long-term investment
Many of us know the magic of investing money in the stock market—just letting it sit and watching it grow—but few of us really grasp just how powerfully enriching this can be. Not surprisingly, Warren Buffett, the world’s greatest investor, has a vivid example of this which he shared with me during a visit earlier this year at Berkshire Hathaway headquarters in Omaha. First, take yourself back, way back to America’s entry into World War II. Franklin Roosevelt was president and Buffett was a young boy.
Business Insider•9 hours agoAMD surges after a stellar earnings report (AMD)
Shares of AMD (Advanced Micro Devices) are set to open up more than 9% Thursday, at $10.60, after the chipmaker reported first-quarter results that topped analyst expectations. Revenue was $1.65 billion, which was ahead of the $1.57 billion that Wall Street was anticipating. "The first quarter was an outstanding start to 2018 with 40 percent year-over-year revenue growth,” said Lisa Su, AMD's president and CEO, in a press release.
- Fox Business•yesterday
General Electric liquidation would be a ‘fool’s errand’: Bob Wright
As General Electric weighs whether to break up the sprawling conglomerate after a year of financial woes, the former vice chairman of the 125-year-old company Bob Wright warned it would be a “fool’s errand” to do so. “It’s worth more whole,” Wright told FOX Business’ Stuart Varney during an interview on Wednesday. In recent decades, the conglomerate has relinquished control of many businesses, including NBCUniversal.
- Zacks•10 hours ago
AT&T (T) Misses on Q1 Earnings & Revenues, Reiterates View
AT&T T reported mixed first-quarter 2018 results, with the top and the bottom lines missing the respective Zacks Consensus Estimate despite solid prepaid phone gains, record low first-quarter postpaid phone churn and continued DIRECTV NOW subscriber growth
- CNBC Videos•yesterday
Exxon Mobil raises dividend, stock hits session high
CNBC's Dominic Chu reports on Exxon Mobil hitting a session high after the company raises their dividend up 5 cents to 82 cents.
- Fortune•yesterday
Why Subway Is Closing Another 500 U.S. Stores
Feeling the need to improve its store fleet amid intense competition in the sandwich industry, Subway is planning to close 500 U.S. locations this year, according to Bloomberg News. Subway restaurants are small in size, but ubiquitous. The chain is the largest in the U.S. by store count of any quick-service chain with nearly 26,000 locations, well above the 14,000 McDonald’s mcd restaurants in this country.
- Zacks•5 hours ago
Altria (MO) Q1 Earnings Beat Estimates, Revenues Rise Y/Y
Altria Group Inc.’s MO recently-reported first-quarter 2018 results showed continued strength in the bottom line. The quarterly performance also reflected improved revenues in the smokeless category. Nevertheless, lower cigarette volumes remained a drag
Associated Press•5 hours agoGM 1Q earnings fall 60 percent, triggering stock slide
General Motors' first-quarter net income fell 60 percent from a year ago, and its shares fell even though the numbers beat Wall Street estimates. GM says earnings and revenue fell because shipments to dealers dropped as factories were closed to retool for new full-size pickup trucks. Shares of GM tumbled 2.4 percent to $37.18 in Thursday midday training.
- Fortune•2 days ago
Microsoft Becomes Second Most Valuable Company For First Time Since 2015
On Tuesday, Microsoft was valued at $714 billion, about $3 billion above Alphabet and Amazon. Microsoft had briefly ascended to No. 2 on April 12 and then again on April 16. On Tuesday, amid worries about higher U.S. Treasury yields and disappointing earnings by other companies that sent the S&P 500 down1.3%, Microsoft rose to No. 2 by virtue of its shares falling less--2.3%--than those of its rivals.
- Associated Press•10 hours ago
Spectrum Brands: Fiscal 2Q Earnings Snapshot
MIDDLETON, Wis. (AP) _ Spectrum Brands Holdings Inc. (SPB) on Thursday reported fiscal second-quarter profit of $1.4 million. The Middleton, Wisconsin-based company said it had net income of 3 cents per share. Earnings
- CNBC.com•14 hours ago
China's smartphone market plunges; Apple falls out of the country's top-4 sellers
China's smartphone sales saw a record decline in the first quarter of 2018, according to a new report by independent analyst company Canalys. According to the report published Thursday, smartphone shipments in China saw a 21 percent decline annually to 91 million units, with eight of the top 10 vendors experiencing a fall in sales. Apple saw itself displaced once again from its No.4 position by local brand Xiaomi, which was the brand that saw the biggest growth in shipments — by 37 percent to 12 million units sold. (Apple had edged ahead of Xioami by a slim margin in the fourth quarter of 2017, according to Canalys.) Top spot holder Huawei, including its Honor brand, also managed to grow shipments
InvestorPlace•yesterdayShould You Buy 3M Co (MMM) Stock After Earnings Plunge?
3M Co (NYSE:MMM) investors certainly aren’t having fun, as shares fell 6.8% on Tuesday and sit just $9 above its 52-week low near $192. Ironically, 3M stock set that low on April 25, 2017. What’s got 3M down, anyway?
Associated Press•53 minutes agoMGM sets August opening date for Massachusetts casino
The fate of Wynn's glitzy Boston-area casino may still be up in the air, but rival MGM says it is on track to open the first Las Vegas-style casino resort in Massachusetts sooner than expected. MGM Resorts International is now targeting Aug. 24 as the new opening date for the $960 million hotel and casino complex it has been building in downtown Springfield, President Bill Hornbuckle told The Associated Press on Wednesday. Hornbuckle declined to address reports that the company has been quietly negotiating with Wynn Resorts to take over its more than $2.5 billion project on the Everett waterfront, which is slated to open sometime next year.
- Zacks•6 hours ago
Is a Beat in the Cards for Gilead (GILD) in Q1 Earnings?
Gilead Sciences Inc. GILD is scheduled to report first-quarter results on May 1, after the market closes. Gilead, a leader in the hepatitis C virus (“HCV”) space, has a decent track record, with the company’s earnings beating estimates in three of the last four while missing in one. In the last reported quarter, the company’s earnings beat expectations by 4.7%.
TechCrunch•3 hours agoAmazon is now selling home security services, including installations and no monthly fees
Amazon's made a slew of acquisitions in the area of smart home services, and now it's offering a product that brings them together under one roof -- your roof. Amazon has quietly launched a portal offering home security services -- which include all the equipment you would need and in-person visits from Amazon consultants to advise and install the kit. The packages are being sold in five price tiers, at a flat fee -- no monthly service contracts, a significant disruption of how many home security services are sold today.
- Bloomberg•14 hours ago
Nintendo Puts Switch Into Hands of Famicom-Generation President
Shuntaro Furukawa grew up playing the Family Computer, eventually realizing every teenager’s dream of joining the company that made the genre-defining console. Now, as the next president of Nintendo Co., he has the chance to build a new franchise atop a hit product, the Switch. It’s a big generational shift. At 46, Furukawa is 22 years younger than outgoing President Tatsumi Kimishima, a former banker who oversaw the new hybrid console’s debut last year. The Nintendo Switch, which can be used as a portable gaming machine or docked to a TV, is the Kyoto-based company’s biggest bet in years. The company exceeded its own goals by selling 15.1 million units in the period, and forecasts 20 million
