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Thursday, March 28, 2024
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Business

Robinhood Gains 3 percent on Credit Card Launch Plans

Robinhood Markets (NASDAQ:HOOD) stock rose more than 3% intra-day today as the company announced its plan to introduce a credit card for US consumers,...

Bloom Energy’s Price Target Cut at Susquehanna

Susquehanna analysts adjusted their price target for Bloom Energy (NYSE:BE) to $16 from $18 but continued to recommend a Positive rating on the stock....

Arm Holdings Stock Plunges 6 percent on Muted Outlook

Arm Holdings (NASDAQ:ARM), which entered the public market on September 14, witnessed its stock fall by more than 6% intra-day today after releasing its...

WeWork files for Chapter 11 bankruptcy in U.S., Canada, international offices remain

WeWork (WE) filed for Chapter 11 bankruptcy on Monday. The office-sharing company was valued at $47 billion in 2019. It failed in its initial...

Walmart Early Black Friday Deals Begin, Up To 83 Percent Off, Shop Before Stocks Run Out

Walmart has started its Black Friday deals early and some items are also selling so fast that the big box retailer is running out...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 9, 2023

The widely monitored Dow Jones Industrial increased on Thursday morning as markets processed the Labour Department's initial round of jobless claims. In today's stock...

Bumble Drops 6 percent Following Q3 Results

Shares of Bumble (NASDAQ:BMBL) dropped over 6% pre-market today after the company reported third-quarter earnings. The company's revenue increased by 18.4% year-over-year to $275.5 million,...

Rivian Posts Q3 Revenue Beat, Raised Production Guidance

Rivian Automotive (NASDAQ:RIVN) reported its third-quarter earnings and updated its production forecast for the year. The company posted revenues of $1.34 billion, surpassing the consensus...

Upwork Stock Surges 23 percent on Strong Q3 Beat & Outlook

Shares of Upwork (NASDAQ:UPWK) saw a significant 23% increase intra-day today after the freelancing platform beat third-quarter results expectations. The company reported earnings per share...

Axon Surges 4 percent Following Beat & Raise

Axon (NASDAQ:AXON) shares gained more than 4% intra-day today after the company delivered third-quarter financial figures that surpassed expectations. The company reported robust earnings of...

Robinhood Plunges 14 percent on Q3 Revenue Miss

Robinhood Markets (NASDAQ:HOOD) shares plunged more than 14% intra-day today after the brokerage firm released its third-quarter earnings, which showed revenues missing analyst expectations...

Elon Musk launches AI chatbot that ‘loves sarcasm’, has ‘a bit of wit’

Elon Musk posted on his social media platform that his company xAI has developed a chatbot called “Grok.” Initially, it would be available for...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 8, 2023

Last week saw the largest one-week decline in mortgage rates in more than a year, which led to the first uptick in mortgage demand...

Datadog Stock Jumps 22 percent Following Q3 Beat

Shares of Datadog (NASDAQ:DDOG) experienced a 22% spike pre-market today after the company reported a quarter that exceeded Street expectations. The company, which specializes in...

Goodyear Tire Reports Q3 EPS Beat, Revenues Miss, Shares Up 3 percent

Goodyear Tire (NASDAQ:GT) shares rose more than 3% intra-day today after the company released its third-quarter financial results, revealing earnings per share (EPS) of...

IFF Posts Q3 Beat, Reaffirms Guidance

Shares of IFF (NYSE:IFF) released its third-quarter financial results yesterday. Earnings per share (EPS) came in at $0.89, exceeding the Street expectations of $0.75....

RingCentral Stock Gains 2 percent Following Strong Q3 Results

RingCentral (NYSE:RNG) witnessed its shares rise more than 2% intra-day today after the company released its third-quarter financial results. The earnings per share (EPS)...

TransMedics Jumps 50 percent on Raised Guidance

TransMedics Group (NASDAQ:TMDX) experienced a significant surge in its stock value, with an over 50% increase intra-day today following the company’s third-quarter earnings that...

Here Come the Pink Slips: Citigroup Plans for a 10% Workforce Reduction

One of the biggest financial firms in the world, Citigroup (C), recently revealed that it will be reducing its personnel by 10%. The choice...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 7, 2023

The dollar strengthened and stocks fell. S&P 500 futures dropped roughly 0.3%, signaling that the US equity benchmark will end a six-day winning run....

Dish Networks Stock Plunges 7 percent Following Q3 Miss, CEO Resigns

Dish Networks (NASDAQ:DISH) shares dropped more than 7% pre-market today following the announcement of third-quarter results that fell short of expectations. The company reported a...

H.C. Wainwright Initiates Coverage on Bitcoin Depot With Buy Rating

H.C. Wainwright analysts started covering Bitcoin Depot (NASDAQ:BTM) with a Buy rating and a $6.00 price target. The analysts remarked that Bitcoin Depot, founded...

Booking Stock Gains 4 percent on DA Davidson Upgrade

DA Davidson analysts upgraded Booking Holdings (NASDAQ:BKNG) to Buy from Neutral, maintaining a $3,400 price target. As a consequence, shares rose more than 4%...

Bilibili Started With Buy Rating at Mizuho Securities

Mizuho analysts initiated a Buy rating for Bilibili (NASDAQ:BILI) with an $18 price target, citing the company's potential to more than double its total...

Lincoln Educational Services Jumps 9 percent on Q3 Beat

Lincoln Educational Services (NASDAQ:LINC) shares jumped more than 9% intra-day today after the company reported its Q3 results, with EPS of $0.07 surpassing Street...

Whitney Wolfe Herd, founder and CEO of Bumble, is stepping down. CEO of Slack, Lidiane Jones, will assume the role.

  Whitney Wolfe Herd, the founder and CEO of Bumble (BMBL), has decided to step down from her role as the chief executive officer of...

FDA propose ban on BVO, an additive used in fruit-flavored sports drinks and sodas

On Thursday, the Food and Drug Administration (FDA) proposed a ban on the brominated vegetable oil (BVO) as a food ingredient in beverages. BVO...

Berkshire Hathaway reports 40 percent hike in earnings, $157 billion in cash, loses on investments

  Berkshire Hathaway reported its third quarter earnings on Saturday. The Oracle of Omaha has delivered and investors are pleased with the results. Warren Buffet...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 6, 2023

Following their greatest week of the year, stocks increased on Monday as expectations that the Federal Reserve would soon cease its tightening continued to...

Uber and Lyft reach agreement to pay $328 million for withholding drivers’ money

Uber and Lyft have agreed to pay a combined amount of $328 million to drivers, as they had withheld this money from them. New...

Apple Beats Q4 Expectations, But Shares Fall 2 percent on Soft Holiday Quarter Warning

Apple (NASDAQ:AAPL) announced a Q4 EPS of $1.46, surpassing analyst predictions by $0.07. The company's quarterly revenue reached $89.5 billion, slightly above the $89.31...

Coinbase Reports Q3 Beat, But Trading Volumes Drop

Coinbase (NASDAQ:COIN) reported Q3 earnings that exceeded expectations but experienced a decline in trading volumes for the second consecutive quarter. The company posted a Q3...

Booking Reports Better Than Expected Q3 Results

Booking Holdings (NASDAQ:BKNG) reported Q3 EPS of $72.32, outperforming the Street estimate of $67.78. Revenue increased by 21% from the previous year to $7.3...

Block Stock Jumps 12 percent on Raised Guidance Following Q3 Beat

Shares of Block Inc (NYSE:SQ) soared more than 12% intra-day today after the company increased its full-year adjusted EBITDA forecast. Block reported a significant year-over-year...

Fortinet Shares Drop 23 percent on Guidance Cut

Fortinet (NASDAQ:FTNT) reported a third-quarter EPS of $0.41, beating the analyst prediction by $0.05. However, its quarterly revenue of $1.33 billion fell slightly short...

Target CEO speaks of shoppers pull back, conservative approach to inventory, CNBC reports

Target (TGT) CEO Brian Cornell said that shoppers pull back had not only affected sales of discretionary items but also decreased purchases of groceries...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 3, 2023

October saw a slowdown in the growth of jobs in the U.S. economy, which confirmed long-standing predictions of a downturn and may have eased...

Palantir Shares Jump 17 percent on Q3 Beat & Raised Guidance

Palantir (NYSE:PLTR) outperformed expectations with a third-quarter earnings per share of $0.07, edging past the Street estimate of $0.06. The company's quarterly revenue also...

Eli Lilly Gains 4 percent on Better Than Expected Q3 Results

Eli Lilly (NYSE:LLY) posted a surprisingly positive third-quarter performance, reporting adjusted earnings per share of 10 cents, beating the expectations of a 20-cent loss...

Roku Jumps 30 percent as it Anticipates to be Profitable in Q4

Roku (NASDAQ:ROKU) delivered mixed third-quarter results, with a reported loss per share of $2.33, which was better than the anticipated loss of $1.96 per...

Zillow Beats Q3 Results, But Shares Drop 4 percent

Zillow Group (NASDAQ:Z) exceeded revenue expectations in its third-quarter earnings report, released after Wednesday's market close. However, shares dropped more than 4% intra-day today. The...

PayPal Shares Gain 6 percent on Q3 Beat & Guidance Raise

PayPal Holdings (NASDAQ:PYPL) experienced a 6% increase intra-day today after the company released its third-quarter earnings and provided forward-looking guidance. The company reported an earnings...

Jury Finds National Association of Realtors and some residential brokerages liable for $1.8 billion for inflating commissions

The National Association of Realtors (NAR), a well-known trade association for the real estate sector, and multiple residential brokerages have been found liable for...

WeWork to file for bankruptcy as early as next week, reports say

WeWork (WE), an office-sharing firm, is expected to file for bankruptcy as early as next week, according to reports from multiple outlets. The troubled...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 2, 2023

On Wednesday, the Federal Reserve left its benchmark interest rate in the range of 5.25%-5.50% unchanged, the highest in 22 years, as officials continue...

Pfizer reports losses in third quarter, as demand for Covid vaccines, treatment falls, stock fall

  Pfizer (PFE) reported its third quarter results on Tuesday and stocks fell by about 2 percent, in early trading. The giant pharmaceutical company has...

Shares of WeWork Dive 37 percent Following Bankruptcy Speculation

WeWork (NYSE:WE), once valued at $47 billion, is on the brink of filing for bankruptcy as early as next week, according to sources cited...

Boeing Receives an Upgrade From Goldman Sachs

Boeing (NYSE:BA) shares saw an uptick of over 1% intra-day today after Goldman Sachs analysts included the stock in their 'US Conviction List’. The...

Wayfair Gains 4 percent Following Q3 Earnings

Wayfair (NYSE:W) saw its shares gain more than 4% intra-day today following its third-quarter results, which presented a mixed picture. For the quarter, Wayfair posted...

Canada Goose Shares Drop 9 percent on Guidance Cut

Canada Goose (NYSE:GOOS) unveiled its second-quarter results, with projections for the full year falling short of analyst forecasts. As a result, shares plunged more...
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