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Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) both operate well-known ride-hailing services, but their business models are radically different. Uber is larger and more diversified than Lyft. It also provides food delivery services through Uber Eats.
Yahoo Finance's Jared Blikre joins the Live show to check out Cisco's mixed Q3 earnings report.
High-quality items seldom go on sale. Grab them when they do.
Charles Schwab's annual Modern Wealth Survey also asked 1,000 Americans how much they needed in order to live comfortably.
Retail stocks including Costco (NASDAQ: COST), Kohl's (NYSE: KSS), and Five Below (NASDAQ: FIVE) were getting shocked today after retail giants including Walmart and Target badly missed bottom-line estimates and their first-quarter earnings reports. Both companies also cut their guidance for the year, warning that challenges from inflation and supply chain disruptions would persist. As of 11:05 a.m. ET, Costco stock was down 11.4%, while Kohl's had given up 10%, and Five Below was off 9.1%.
In contrast to the overall market, lending technology company Upstart Holdings (NASDAQ: UPST) was a major outperformer, with shares rising by about 6%. Upstart recently plunged by more than 50% after its first-quarter earnings, and the biggest reason was that the dollar amount of loans carried on Upstart's balance sheet more than doubled. Recently, Upstart's management has made it clear that it understands investors' concerns and is going to immediately take steps to address them.
The carnage playing out in the U.S. stock market on Wednesday is likely an amuse-bouche compared with the devastation on the menu for the bulls in the coming months and years, Guggenheim Partners Global Chief Investment Officer Scott Minerd told MarketWatch in an interview. The prominent CIO on Wednesday said he envisioned the possibility of a dreadful summer and fall for stock-market investors — one in which the Nasdaq Composite Index (COMP) eventually unravels, plunging 75% from its Nov. 19, 2021, peak (currently it’s down around 28%) and the S&P 500 (SPX) tumbles 45% from its Jan. 3, 2022, peak (from which presently down 18%) as we head into July. “That looks a lot like the collapse of the internet bubble,” Minerd said, referring to the implosion of technology stocks in 1999 and early 2000.
(Reuters) -An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc from the widely followed S&P 500 ESG Index because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk responded with harsh tweets including that "ESG is a scam". In it changes, effective May 2, the sustainability index also added soon-to-be-Musk-controlled Twitter Inc and oil refiner Phillips 66 while dropping Delta Air Lines and Chevron Corp, according to an announcement. The back-and-forth over the index changes reflects a wider debate about the metrics used to judge corporate performance on environmental, social and governance (ESG) issues, a growing area of investing.
A Target earnings miss on inflation pressures sparked a fierce sell-off Wednesday. Here's what that means for the market rally.
In this article, we discuss 10 tech stocks Warren Buffett is holding despite selloff. If you want to see more tech stocks held by the billionaire amid the broader market selloff, click Warren Buffett Is Holding These 5 Tech Stocks Despite Selloff. Warren Buffett’s portfolio is often replicated by aspiring retail investors, as well as […]
Endo International (NASDAQ: ENDP), a specialty pharmaceutical company, saw its shares fall 69% on Wednesday. It was already a bad day for many companies with the Dow and the S&P 500 down more than 3% and the NASDAQ falling more than 4%. The biggest reason for Endo's massive drop came when The Wall Street Journal reported the company was negotiating to restructure its more-than $8 billion in debt with its lenders and senior bondholders.
Shares of Apple (NASDAQ: AAPL) were falling 3.9% heading into noontime trading Wednesday as retail sector earnings have been weaker than expected this week and the Federal Reserve is expected to further tighten the screws on the economy. There has also been an uptick in cases of COVID-19, which caused Apple to delay implementation of its three-days-in-the-office policy.
Inflation is running hot. Farmland can help your portfolio with that.
(Bloomberg) -- Gabe Plotkin plans to wind down Melvin Capital Management after suffering billions of dollars of losses and angering investors with a botched plan to reboot the firm.Most Read from BloombergWalmart Flashes a Warning Sign to the Entire Consumer EconomyStocks Suffer Steepest Rout in Almost Two Years: Markets WrapOz, McCormick Locked in Too-Close-to-Call Pennsylvania RaceElon Musk Has a Bigger Problem Than Twitter Bots: A Huge Debt BurdenOnetime Richest Singapore Tycoon Has Lost 80%
Yahoo Finance Live looks at the companies tied to several trending industry stories, including Elon Musk's reaction to Tesla being removed from the S&P 500 ESG index.
UPDATE (May 18, 4:29 p.m.): The Kenton County Sheriff's Office confirmed Wednesday afternoon that a former Procter & Gamble employee, Benjamin Wood, was taken into custody at his residence without incident in connection with the shutdown of the company's downtown headquarters. UPDATE (May 18, 12:24 p.m.): The Cincinnati Police Department issued a statement that it is involved in an ongoing, multi-jurisdictional investigation and nobody has yet been charged. Cincinnati-based Procter & Gamble has closed its downtown offices on Wednesday over a reported security concern.
Tesla ( ) CEO Elon Musk is extremely unhappy that the EV company was eliminated from the S&P 500 ESG Index on Wednesday, voicing his concerns on Twitter. The electric automaker was taken off the ESG index by S&P Dow Jones Indices due to Tesla's ongoing issues of racial discrimination claims from employees and how it has dealt with a National Highway Traffic Safety Administration (NHTSA), a government investigation after several crashes were connected to its autopilot vehicles. The changes are retroactive: they are effective May 2 and a May 17 S&P Dow Jones Indices blog post described the rationale.
The trends highlighted by Target's and Walmart's disappointing results bode poorly for Amazon. Investors reacted with shock, sending shares down sharply.
Let's drill down on the technical indicators and charts to see how traders may be positioned. Our advice was hopefully helpful but now that prices reached our $164 downside price target from the Point and Figure chart maybe a new strategy is needed in the short-run. The trading volume has been very active since November.
Shares of AMC Entertainment (NYSE: AMC) were 3.4% higher at 11:24 a.m. ET on Wednesday after the movie theater operator filed a statement with the Securities and Exchange Commission that it now owns a 6.8% stake in National CineMedia (NASDAQ: NCMI), which runs advertisements on movie theater screens. CEO Adam Aron has said he would be making more investments using the $1.8 billion in liquidity AMC has available, and a purchase like this is probably what most people had in mind. National CineMedia is a holding company whose sole purpose is to operate National CineMedia LLC (NCM), which distributes ads to theaters.
EV makers in China are still feeling the effects of lockdowns, but a new report today says help may be on the way.
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