Amazon’s stock jumps after profit crushes estimates to offset slight miss on cloud sales
Amazon.com Inc. soothed jittery investors with a massive beat on earnings despite quarterly cloud sales that came up slightly short, initially sending its shares up 4% in after-hours trading Thursday. Amazon AMZN, -1.29% said third-quarter revenue swelled 13% to $143.1 billion from $127.1 billion in the same quarter last year. Profit was $9.9 billion, or […]
Bristol Myers Squibb (BMY) Q3 earnings report 2023
Bristol Myers Squibb on Thursday reported quarterly adjusted earnings that topped expectations and posted revenue in line with estimates, even as sales of the company’s popular blood cancer drug Revlimid plummeted due to generic competition. Bristol Myers, one of the world’s largest pharmaceutical companies, raked in $10.96 billion in revenue for the third quarter, down […]
Lagarde uses ‘weak’ nine times as ECB pauses for first time since summer of 2022
The European Central Bank on Thursday paused on interest rates, after data showing inflation slowing down as worries about the economy abound. President Christine Lagarde used variants of the word “weak” nine times in her opening comment, delivered from Athens, Greece, after the ECB held its deposit rate at 4%, its first pause since the […]
Merck (MRK) Q3 earnings report 2023
Merck headquarters in Rahway, New Jersey, on Tuesday, April 18, 2023. Christopher Occhicone | Bloomberg | Getty Images Merck on Thursday reported third-quarter revenue and adjusted earnings that topped expectations on strong sales of its blockbuster cancer drug Keytruda, HPV vaccine Gardasil and surprisingly, its Covid drug Lagevrio. The pharmaceutical giant also increased its full-year […]
Morgan Stanley says Ted Pick to succeed James Gorman as CEO
James Gorman, Morgan Stanley CEO, July 18, 2023. CNBC Morgan Stanley said Wednesday that Ted Pick will succeed James Gorman as CEO at the start of 2024. Pick, a Morgan Stanley veteran who rose through the ranks to lead the bank’s Wall Street operations, will also join the New York-based bank’s board, according to the […]
Facebook says Middle East war is hurting ad spending, and Meta’s stock falls
Shares of Meta Platforms Inc. abruptly switched course late Wednesday, going from gain to pain, in extended trading after the Facebook parent company easily topped earnings expectations but spooked Wall Street with talk of its immediate future. Meta META, -4.17% Chief Financial Officer Susan Li disclosed on Meta’s earnings call that the company has seen […]
Mattel MAT Q3 earnings: Barbie sales surge
Guests shop during a visit to the Malibu Barbie Cafe pop-up in New York City on May 17, 2023. Brendan McDermid | Reuters Call it a Barbie boost. Mattel on Wednesday said Barbie sales jumped 16% in the third quarter, riding the wave of the blockbuster movie. The “Barbie” film, released in July, is largely […]
Ford, UAW reach tentative deal to end labor strikes
United Auto Workers President Shawn Fain (right) and UAW Secretary-Treasurer Margaret Mock (left) lead a march outside Stellantis’ Ram 1500 plant in Sterling Heights, Michigan after the union called a strike at the plant on Oct. 23, 2023. Michael Wayland / CNBC DETROIT – The United Auto Workers union and Ford Motor have reached a […]
Biden asks Congress for $16 billion to reverse child-care funding ‘cliff’
The Biden-Harris Administration asked Congress for an extra $16 billion to support the childcare sector after the pandemic childcare stabilization fund expired Sept 30. The proposal was part of the emergency supplemental-funding request the administration made Wednesday, asking for around $55 billion for domestic crises. It also included funding requests for programs such as disaster […]
How it’s expanding its global reach
Nikola Jokic, #15 of the Denver Nuggets, shoots the ball against Bones Hyland, #5, and Norman Powell, #24, of the Los Angeles Clippers during the second half of a preseason game at Crypto.com Arena in Los Angeles on October 19, 2023. Kevork Djansezian | Getty Images As the National Basketball Association’s new season tips off […]
