Month: October 2020

It looks like the NBA ownership ranks are adding yet another tech billionaire. Ryan Smith, the 42-year-old CEO and co-founder of online survey software company Qualtrics, has agreed to buy a majority stake in the NBA’s Utah Jazz in a deal worth $1.66 billion, ESPN reported on Wednesday. In doing so, Smith will follow in
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The coronavirus pandemic is redrawing the flight patterns of America’s private jets, as airports in resort towns see big jumps in traffic while flights near cities decline, according to a new report. Private jet flights at Francis S. Gabreski Airport in Westhampton, New York, surged 172% in October, according to data from Tuvoli, an online
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Google parent company Alphabet‘s stock rose as much as 9% in after-hours trading as it crushed expectations for both earnings and revenue in its third-quarter earnings results, showing strong growth in advertising revenue across the board. Here are the results. Earnings per share: $16.40 vs $11.29 expected, according to Refinitiv estimates Revenue: $46.17 billion vs $42.90 billion
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A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters Exxon Mobil on Friday reported its third straight quarter of losses as depressed oil demand sparked by the coronavirus pandemic weighed on the company’s operations. During the third quarter, the company lost $680 million, although Exxon said results improved on a
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Shares of Twitter, Facebook, Apple and Amazon traded lower Friday, a day after the companies released quarterly reports that failed to wow Wall Street. Here’s what’s going on: Twitter Twitter stock plunged nearly 21% Friday after the company reported disappointing user growth but beat analysts’ expectations on profit and revenue. Twitter grew its total monetizable
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Amazon reported better-than-expected third-quarter results after the bell on Thursday, including soaring profits and 37% revenue growth. The stock bounced around in extended trading, falling as much as 2%, after Amazon provided a wide guidance range for the fourth quarter. Earnings: $12.37 vs $7.41 per share expected, according to analysts surveyed by Refinitiv Revenue: $96.15
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Facebook stock was down more than 2% on Thursday after the company reported a decrease in users in the U.S. and Canada but moderate revenue growth in its third-quarter earnings. Earnings: $2.71 cents per share, vs $1.91 per share forecast by Refinitiv Revenue: $21.47 billion, vs $19.8 billion forecast by Refinitiv Daily active users (DAUs):
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After more than a decade as an investor on ABC’s “Shark Tank,” Kevin O’Leary has bettered his negotiating skills. And with all that experience, he’s found a common thread among some of his “very best” deals. “What I’ve learned over the years, because I’ve negotiated so many different deals, [is that] the very best deals
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Shares of Pinterest surged more than 28% Thursday, as investors rallied around the company’s blowout third-quarter earnings that indicated advertising demand revved up after a difficult period due to the Covid-19 pandemic.   Shares in tech companies Facebook, Google parent Alphabet, Amazon and Twitter were also up, helping recover some of Wednesday’s losses. Pinterest’s boost from
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Gilead Sciences reported stronger-than-expected third-quarter earnings on Wednesday as sales of its coronavirus treatment remdesivir touted by President Donald Trump drove revenue up by 17% from last year. Gilead’s antiviral drug remdesivir, selling under the brand name Veklury, last week became the first and only treatment granted full approval by the U.S. Food and Drug
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With mortgage rates reaching historic lows this year, many people are looking to refinance or purchase a home. But should you do an adjustable rate mortgage (ARM), which has an introductory fixed-rate period — usually five, seven or 10 years — and then periodically adjusts based on market conditions, or the more popular 30-year fixed-rate mortgage?
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Boeing, which is already shedding 16,000 jobs, said Wednesday it will cut thousands more through the end of next year as the coronavirus pandemic drives down demand for aircraft and travel. Boeing’s third-quarter results, which were better than Wall Street estimates, show the company’s struggles in the pandemic. The plane-maker is looking to further cut
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Ariel Skelley | DigitalVision | Getty Images Nearly anyone can hang out a shingle and just call themselves a financial advisor. To be sure, the terminology in the financial services industry can be very confusing to investors. There are advisors, brokers, broker-dealers, certified financial planners, chartered financial analysts and certified investment management analysts, investment advisors,
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A screen shows Alibaba’s sales volume exceeding 100 billion yuan after one hour during 2019 Alibaba 11.11 Global Shopping Festival on November 11, 2019 in Hangzhou, China. VCG | Visual China Group | Getty Images The e-commerce giant Alibaba‘s annual Singles Day shopping event could be a boon for Chinese brands, according to a new
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Microsoft shares moved 2% lower in extended trading on Tuesday after the company reported quarterly revenue guidance that fell short of analysts’ expectations. Fiscal first-quarter earnings exceeded estimates, though. Here’s how the company did: Earnings: $1.82 per share, adjusted, vs. $1.54 per share as expected by analysts, according to Refinitiv. Revenue: $37.15 billion, vs. $35.72
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