Month: July 2019

Qualcomm Inc. CEO Steve Mollenkopf. Getty Images Qualcomm reported revenue for its June quarter that was significantly lower than analyst expectations, as well as disappointing guidance for the September quarter on Wednesday. The stock dropped as much as 5% in after-hours trading. Here’s how the company did versus expectations: Earnings: $0.80 per share, excluding certain
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The Fitbit Ionic has a few apps, with more to come Erin Black | CNBC Shares of Fitbit cratered as much as 21% after hours on Wednesday after the company cut guidance for the next quarter in its second quarter earnings report. The stock rebounded slightly but was still down more than 11%, which is
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Leon Cooperman Scott Mlyn | CNBC During Tuesday night’s Democratic presidential debate, many of the Democratic candidates called for ending a favorite tax break of the rich. And now they have some unlikely allies: billionaire, conservative hedge-fund managers. In Wednesday’s Financial Times, hedge-fund manager and longtime Republican supporter Leon Cooperman said that while he opposed
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Shares of chipmaker Advanced Micro Devices fell 10.1% Wednesday following its second quarter earnings report. The drop shaved $3.76 billion from AMD’s market cap, bringing it to $32.9 billion. The company met analyst estimates for earnings per share and beat revenue expectations. AMD reported earnings of 8 cents per share and revenue of $1.53 billion, compared
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Gilead Sciences beat Wall Street estimates for second-quarter revenue and profit on Tuesday, driven by higher sales of HIV treatments, and the U.S. drugmaker raised its full-year sales forecast. California-based Gilead said it now expects 2019 sales of $21.6 billion to $22.1 billion in 2019, up from its prior forecast of $21.3 billion to $21.8
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Video game publisher Electronic Arts reported better-than-expected quarterly revenue on Tuesday, riding on the continued success of its battle royale game “Apex Legends”, sending its shares up as much as 5% in extended trading. The company’s live services led by Apex Legends, The Sims 4, and FIFA Ultimate Team spurred growth with net bookings jumping
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Amgen on Tuesday said its second-quarter revenue fell 3% due to more competition for its older off-patent drugs, but rising sales of newer medicines helped its results exceed Wall Street forecasts. Amgen also said its experimental cancer drug AMG510 has shown activity in patients with colorectal and appendiceal cancer, helping to boost the company’s shares
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General Electric shares rose Wednesday after second-quarter earnings topped expectations and the battered conglomerate gave a better-than-expected outlook for its industrial cash flow, a key metric watched by investors. GE reported adjusted earnings of 17 cents a share, down 6% from the same quarter last year but above the 12 cents a share anticipated by
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Apple now has $210.6 billion cash on hand, according to the company’s fiscal third-quarter earnings report released on Tuesday. That’s a 6.6% decline from its fiscal second quarter of 2019, when it reported a cash pile of $225.4 billion. It’s down 13.6% from the year-ago quarter. Apple continues to host one of the largest cash
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Apple said on Tuesday that its services business in the fiscal third quarter grew about 13%, reflecting the company’s effort to expand in subscription products as the iPhone sales slow. Revenue in services, which includes the App Stores Apple Care, Apple Pay, iCloud and Apple Music, increased to $11.46 billion from $10.17 billion a year
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Apple reported earnings for its June quarter on Tuesday that were above expectations, and the company’s revenue returned to growth after two straight down quarters. The stock rose more than 4% in after-hours trading. Apple’s guidance was strong and beat analyst expectations, suggesting that demand for Apple products is stabilizing headed into the critical second
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Retiring as a millionaire may seem like a fantasy rather than a practical financial goal, yet it’s possible with savvy monthly saving. Reaching that milestone, however, takes determination, especially if you don’t start until later in life. Luckily, personal finance site NerdWallet crunched the numbers, broken down by age group, to demonstrate how much you’ll
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Mastercard on Tuesday beat Wall Street estimates for quarterly profit, as a robust economy encouraged customers to spend more, boosting fee income for the world’s second-largest payment processor. The company’s gross dollar volume, the dollar value of transactions processed, rose 8.3% to $1.60 trillion in the second quarter. Overall consumer spending, which accounts for more
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Beyond Meat shares fell sharply in extended trading Monday on news the company would embark on a secondary offering of 3.25 million shares only three months after its IPO. That report followed the release of mixed second-quarter results and a raised 2019 revenue forecast. Shares of the company fell more than 13% in extended trading,
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LawrenceSawyer/Getty Images Samantha Jokela, a 21-year-old college student from Upton, Massachusetts, will be graduating from college a year earlier than expected, thanks to dual enrollment. Dual enrollment is a state-run program that allows students to take college-level classes, often through a local community college, while they are still in high school. As many as 3
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