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Business

Microsoft surpasses Q3 revenue and profit expectations due to cloud services. CWEB analysts upgraded the stock.

Microsoft (MSFT) reported fiscal third-quarter earnings on Friday, surpassing analysts' expectations for both the top and bottom lines. This was primarily due to the...

Meta AI push fails to excite market, shares drop by 16 percent, CWEB analyzes

Meta Platforms (META) revealed billions spent on artificial intelligence, and its stock value dramatically declined. CEO Mark Zuckerberg’s thrust into the upcoming field of...

Walmart Black Friday deals are live online, in-store deals begin Friday

Walmart Black Friday deals are live online and will begin at 6 a.m. local in its stores on Friday 11/24. It is the time...

Is Novavax, the Latecomer Covid Vaccine, Worth the Wait?

Erin Kissane, a co-founder of the COVID Tracking Project, rolled up her sleeve for the Novavax covid-19 vaccine in mid-October soon after it was...

Satya Nadella, the CEO of Microsoft, hinted that Sam Altman would rejoin OpenAI.

In a stunning turn of events late on Friday, the board of directors of AI firm OpenAI, the company behind popular AI blockbusters including...

Binance CEO Changpeng Zhao resigns in exchange for a $4.3 billion DOJ settlement for money laundering.

Binance CEO Changpeng Zhao resigns in exchange for a $4.3 billion DOJ settlement for money laundering. Changpeng Zhao plans to admit guilt to multiple charges brought forth by...

Nvidia Posts Q3 Beat & Strong Guidance

NVIDIA (NASDAQ:NVDA) announced third-quarter earnings per share (EPS) of $4.02, surpassing the expected $3.36 by analysts. The quarter's revenue reached $18.12 billion, exceeding the...

Guess? Shares Drop 15 percent Following Q3 Miss

Guess? Inc. (NYSE:GES) saw a more than 13% decline in its shares intra-day today after announcing its third-quarter results. The company reported earnings per...

DLocal Shares Plunge 8 percent After Q3 Miss

Shares of DLocal Limited (NASDAQ:DLO) plunged more than 8% intra-day today following the announcement of their third-quarter results. The company reported earnings per share...

HP Stock Up 2 percent Following Q3 Earnings Report

HP (NYSE:HPQ) experienced a 2% gain in its stock price intra-day today following its fourth-quarter earnings release. The company reported revenues of $13.8 billion, a...

Deere Plunges 5 percent on Disappointing Profit Guidance

Deere & Company's (NYSE:DE) shares experienced a 5% decline intra-day today following the announcement of less-than-expected profit estimates for 2024. Deere & Company adjusted its...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 22, 2023

As investors absorbed the release of the Federal Reserve's last meeting minutes and awaited findings from artificial intelligence chipmaker Nvidia (NVDA), stocks closed lower...

Crypto exchange led by former NYSE president buys crypto platform CoinDesk in all cash deal

Crypto exchange Bullish, led by former New York Stock Exchange (NYSE) president Tom Farley, had bought crypto site CoinDesk from Digital Currency Group (DCG)...

Burlington Stores Shares Jump 10 percent Following Q3 Earnings

Burlington Stores (NYSE:BURL) announced earnings of 98 cents per share for the third quarter, surpassing the average analyst expectation of 95 cents. The company's revenue...

Zoom Reports Q3 Beat, Provides Strong Guidance

Zoom (NASDAQ:ZM) reported third-quarter results that exceeded expectations, with earnings per share (EPS) of $1.29 surpassing the consensus estimate of $1.08. The company's revenue increased...

Dick’s Sporting Goods Shares Gain on Q3 Beat & Raised Outlook

Dick's Sporting Goods (NYSE:DKS), reported third-quarter earnings that surpassed expectations, leading to a more than 5% increase in its shares intra-day today. The company's...

Cloudflare Earns an Upgrade at Oppenheimer

Analysts at Oppenheimer upgraded the rating for Cloudflare (NYSE:NET) from Perform to Outperform, setting a new price target of $85.00. The analysts explain that after...

Kohl’s Stock Plunges 11 percent Following Q3 Earnings

Kohl’s Corporation (NYSE:KSS) shares experienced a decline of over 11% intra-day today following the announcement of its third-quarter results, which marked the seventh consecutive...

Streamline Your Delivery Process with Walmart’s New Parcel Stations

Our obsession with decreasing the time it takes for customers to receive an online order is a direct result of our knowledge that customers...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 20, 2023

As investors awaited findings from artificial intelligence chipmaker Nvidia (NVDA), stocks dropped at Tuesday's opening bell, indicating a slowdown in the November rise. When...

Boeing’s Rating Raised to Buy at Deutsche Bank

Analysts at Deutsche Bank upgraded Boeing (NYSE:BA) from Hold to Buy rating, increasing the price target from $204 to $270, representing a potential 30%...

Wells Fargo Initiates Coverage on Arm Holdings at Overweight, Shares Surge 5 percent

Analysts at Wells Fargo started coverage on Arm Holdings (NASDAQ:ARM) with an Overweight rating and a price target of $70.00. The analysts’ commentary underscores...

Analysts React to Leadership Transitions at 2U

Shares of 2U, Inc. (NASDAQ:TWOU) fell 4% intra-day today following the announcement that Paul Lalljie, the current Chief Financial Officer, will replace Christopher Paucek...

PENN Entertainment Stock Gains 6 percent on BofA Securities’ Upgrade

Shares of PENN Entertainment (NASDAQ:PENN) witnessed a 6% increase intra-day today following an upgrade by BofA Securities, spurred by the early success of ESPN...

Dutch Bros Earns an Upgrade at JPMorgan

Analysts at JPMorgan upgraded Dutch Bros (NYSE:BROS) from Neutral to Overweight, raising the price target from $30.00 to $35.00. The analysts noted significant changes in...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 20, 2023

As the holiday-shortened week began, Wall Street equities continued to rise, having won for three weeks in a row on the back of expectations...

New Social Security Report Shows Growing Overpayment Problem Tops $23B

  A new financial report released by the Social Security Administration this week shows that the scope of the agency’s overpayment problem has continued to...

OpenAI, the parent firm of ChatGPT, removes CEO Sam Altman. Announces leadership transition

Sam Altman, the CEO of ChatGPT's parent company, OpenAI, has been fired. Open AI released this statement: The board of directors of OpenAI, Inc., the...

Applied Materials Posts Q4 Beat, But Stock Plunges 5 percent on DOJ Investigation Reports

Applied Materials (NASDAQ:AMAT), the largest semiconductor equipment manufacturer in the U.S., reported fiscal fourth-quarter earnings that surpassed expectations. However, the company's shares faced pressure...

Intuitive Surgica’s Price Target Raised at Stifel

Stifel analysts increased their price target for Intuitive Surgical (NASDAQ:ISRG) from $315.00 to $350.00, maintaining a Buy rating. This adjustment follows conversations with two...

Palo Alto Networks’ Rating Slashed at BofA Securities

Bank of America analysts downgraded shares of Palo Alto Networks (NASDAQ:PANW) from Buy to Neutral, while also reducing the price target from $290 to...

Zoom’s Rating Raised to Neutral at Citi

Citi analysts raised their rating for Zoom (NASDAQ:ZM) from Sell to Neutral, while maintaining the firm's price target for the stock at $66 per...

BJ’s Wholesale Drops 3 percent Despite Q3 Beat

BJ's Wholesale Club (NYSE:BJ) announced its third-quarter earnings, revealing a mixed financial performance. The company's adjusted earnings per share (EPS) for the quarter was...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 17, 2023

Friday saw stock prices fall as investors sought to extend their gains from this month. Shortly after, the Dow Jones Industrial Average fell by...

Palo Alto Networks Drops 7 percent on Soft Billing Outlook

Palo Alto Networks (NASDAQ:PANW) experienced a 7% decline in its shares intra-day today, following the release of strong first-quarter results but providing billing guidance...

Macy’s Surges 6 percent Following Q3 Beat & Raised Guidance

Macy's (NYSE:M) reported better-than-expected results for the third quarter, leading to more than a 6% rise in its shares intra-day today. The retailer announced adjusted...

Intel Stock Gains 3 percent on Mizuho Upgrade

Mizuho analysts upgraded Intel's (NASDAQ:INTC) rating to Buy from Neutral, with a significant increase in the price target, raising it by $13 to $50...

Cisco Shares Plunge 11 percent on Annual Guidance Cut

Cisco (NASDAQ:CSCO) announced a reduction in its annual forecast on Wednesday, despite reporting fiscal first-quarter results that exceeded expectations. This adjustment comes in the...

Walmart Beats Q3 Expectations, But Shares Drop 7 percent on Cautious Outlook

Walmart (NYSE:WMT) shares dropped more than 7% intra-day today after the company announced its Q3 result. While results came in better than expected, the...

Walmart reports strong gains in quarter with record breaking $160.84 billion in sales, offers cautious outlook

Walmart Inc. (WMT) reported its third quarterly result and analysts began dissecting the data to gauge consumer trends in the approaching holiday season. The...

Sephora locks up perfume as store theft rises, report says

Sephora has changed the way it sells perfumes after it has seen a rapid rise in thefts in its stores. Fragrances have been removed...

Novo Nordisk’s weight loss drug Wegovy reduces the risk of those with heart disease and obesity

The complete results of the Novo's Select trial were concurrently published in the New England Journal of Medicine and presented by researchers on Saturday...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 16, 2023

As the U.S. labor market shows indications of softening, the number of applications for jobless claims rises. According to Thursday's report from the Labour...

Target Stock Jumps 17 percent Following Q3 Earnings

Target Corporation (NYSE:TGT) shares jumped more than 17% intra-day today after the company reported stronger-than-expected earnings for its third quarter, surpassing Wall Street's projections....

Nu Holdings Q3 Results Beat Estimates But Buy-Side Investors Are Not Impressed

Nu Holdings (NYSE:NU), a Brazilian online lending company, saw more than a 7% decline in its stock intra-day today after reporting its third-quarter results....

Getty Images Shares Fall 2 percent After Q3 Report & Reduced Guidance

Shares of Getty Images (NYSE:GETY) dropped over 2% intra-day today after the announcement of the company's third-quarter results and a reduction in its financial...

Holley Shares Gain 5 percent After Jefferies Upgrade

Analysts at Jefferies raised their rating for Holley (NYSE:HLLY) from Hold to Buy, although they lowered the price target from $8.00 to $5.00. As...

Energizer Stock Plunges 8 percent Following Several Downgrades

Shares of Energizer (NYSE:ENR), the well-known battery manufacturer, experienced an 8% drop intra-day today, following downgrades by several brokerage firms. Morgan Stanley downgraded Energizer's rating...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 15, 2023

There is a lot of pressure on the meeting between President Biden and his Chinese counterpart Xi Jinping at the APEC summit in California...

Sea Stock Plunges 13 percent Following Q3 Results

Sea (NYSE:SE) shares plunged more than 13% intra-day today after the company reported its third-quarter results. The loss per share was reported at 26...
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