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Big tech stocks are already having a record day on Wall Street. Amazon, Microsoft and Google parent Alphabet all reported Q3 earnings after the bell Thursday, beating Wall Street expectations and sending stocks on the rise after hours and into the start of trading Friday. Amazon surged 11 percent, Microsoft spiked 9 percent, and Alphabet
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Merck reported profit ahead of Street estimates on strong sales of its cancer drug Keytruda but total revenue fell in the quarter from disruptions due to the NotPetya cyber attack and loss of market share for many of its older drugs. Sales of Keytruda more than doubled to $1.05 billion in the third quarter but
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Wal-Mart may already be a giant, but it still has big ambitions for its food aisles. The big-box retailer announced Friday the addition of another private-label, called Sam’s Choice Italia. Under the nameplate, Wal-Mart will initially roll out 40 items, including Italian boxed dinners, gnocchi, risotto, sauces and salad dressings. The products can be purchased
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Speaking at the Future Investment Initiative in Riyadh, Saudi Arabia, Huffington described how stress and burnout were having an economic burden on countries, making reference to the U.S. as a prime example. “Stress and burnout are costing U.S. businesses $300 billion. It’s affecting, in a very deep way, health care and health care costs; because
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Wynn Resorts chief Steve Wynn insisted Thursday the mass shooting in Las Vegas didn’t measurably hurt business for the company’s Las Vegas operations. In fact, the CEO said the company’s Las Vegas business turned in its “best third quarter in its existence, since 2005. And we’re particularly happy because our non-casino revenue was so strong.”
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Times of economic difficulty tend to bring up talk of “safety stocks,” but in times of economic prosperity, CNBC’s Jim Cramer sees that narrative flip. “What if the definition of safety is changing right before our eyes? What happens when what’s prudent suddenly becomes what’s reckless and what used to be reckless becomes responsible?” the
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Justin Sullivan | Getty Images Intel employees walk by a sign as they enter their office in Santa Clara, California. Intel reported quarterly earnings and revenue that easily topped analysts’ expectations on Thursday. Here’s how the company did compared with what Wall Street expected: Adjusted EPS: $1.01 vs. 80 cents expected according to Thomson Reuters
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The company beat analysts’ expectations in all three of its business segments, according to StreetAccount. Revenue from Azure was up 90 percent year over year, and commercial revenue for Office 365 subscriptions was up 42 percent. (As a whole, Microsoft’s revenue was up 12 percent.) Stifel analysts Brad Reback and Adam Borg were expecting Azure
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Google parent Alphabet has seen Class A shares rise about 25 percent this year as advertisers have continued to lean heavily on search advertising and YouTube. Network revenues were up 16 percent during the third quarter. “Our momentum is a result of investments that we’ve been making over many years in people, products and partnerships,”
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Amazon‘s third quarter results far exceeded Wall Street expectations Thursday, pushing up its stock by over 7 percent in after hours trading. Investors were expecting smaller profits as the third quarter is typically a heavy investment period for Amazon ahead of the holiday season. But strong growth in North American sales and Amazon Web Services
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