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Democratic presidential candidate Sen. Elizabeth Warren‘s wealth tax would not generate enough money to make a dent in income inequality, said David Rubenstein, the billionaire co-founder of private equity powerhouse The Carlyle Group. “I don’t think all of a sudden a wealth tax, for example, would solve all of our society’s problems, if one could
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Occidental Petroleum  Jay L. Clendenin | Los Angeles Times | Getty Images Occidental Petroleum said on Monday it would slash spending on big projects by 40% next year, as it missed earnings estimates in its first results after closing its $38 billion purchase of rival Anadarko Petroleum. Analysts and activist investors have been pushing the
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Uber continues to burn through cash, but CEO Dara Khosrowshahi said the company could become profitable in about two years. The ride-hailing company will be profitable on an adjusted EBITDA (earnings before interest, tax, depreciation and amortization) basis for the full year in 2021, Khosrowshahi said in an interview on Monday with CNBC’s Deirdre Bosa.
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Uber announced quarterly results Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019. But the stock fell as much about 5% after the company reported over $1 billion in net losses. Here are the key numbers: Loss per share: 68 cents vs. 81 cents expected, according to Refinitiv
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Under Armour‘s quarterly earnings and sales topped analysts’ estimates, but the company on Monday morning trimmed its revenue outlook for the full year, citing “traffic challenges.” The retailer’s shares were plunging more than 12% in premarket trading, after news broke Sunday evening that federal agencies are investigating whether the company used bad accounting practices to
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‘ ); console.log(“26”); $(document).ready(function(){ $(“.ArticleHeader-headerContentContainer”).append($newdiv); }); Covering five countries on three continents in the span of 34 days, a ski trip launching this December lets people experience some of the best glacier runs and off-piste heli-skiing on the planet. The trip is designed for wealthy travelers as well as those seeking new cultural experiences, said
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Chevron reported a 36% decline in third-quarter earnings as lower oil and natural gas prices offset an increase in production. Chevron earned $2.6 billion in the third quarter, down from $4 billion a year earlier. Both EPS and revenue missed the Street’s expectations. Chevron said that the average sale price per barrel of crude oil
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Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The results, however, did slightly top Wall Street expectations and the shares gained 3% in Friday’s trading session. Exxon earned $3.2 billion in the third quarter, down from $6.2 billion in the same period a year ago. Here’s how
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Ben Silbermann, co-founder, chairman and CEO of Pinterest, speaks in front of the company’s logo at the New York Stock Exchange (NYSE), during the company’s IPO on April 18, 2019 in New York City. Johannes Eisele | AFP | Getty Images Pinterest shares plunged 21% in premarket trading Friday after the image-sharing site reported disappointing
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Carl Court | AFP | Getty Images Oil giant Royal Dutch Shell reported a 15% fall in third-quarter net profit on Thursday, citing lower energy prices and chemicals margins. Net income attributable to shareholders on a current cost of supplies (CCS) basis, used as a proxy for net profit, and excluding identified items, came in
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Apple reported fourth-quarter earnings that beat analyst expectations on Wednesday, thanks to strong performance in services and its fast-growing wearables business. Although Apple’s iPhone’s business was down 9% year-over-year, the company signaled that it expected a big holiday quarter, and Apple stock rose over 1% in after-hours trading Here’s how the company did compared with
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Lyft on Wednesday released its earnings report for the third quarter, where it beat on both the top and bottom lines, as well as raised its revenue guidance for 2019. The stock fluctuated following the report and was up 1.4% in extended trading. Here are the key numbers: Loss per share: $1.57 vs. $1.66, per
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Starbucks on Wednesday reported quarterly revenue that topped analysts’ expectations as cafes in the U.S. and China attracted more customers. Shares of the company jumped more than 2% in extended trading. “Our U.S. business delivered 6% comparable store sales growth in the fourth quarter, while China grew comparable store sales by 5% and total transactions
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Facebook stock rose in after-hours trading after the company posted third-quarter earnings that exceeded analysts expectations. Here’s are the key numbers for the quarter ended Sept. 30: Earnings: $2.12 vs. $1.91 per share forecast by Refinitiv. Revenue: $17.65 billion vs. $17.37 billion forecast by Refinitiv. Daily active users: 1.62 billion vs. 1.61 billion forecast by
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