Category: Latest News
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Lyft’s New CEO Risher Announces Additional Layoffs, Shares Soar
David Risher, CEO of ride-hailing service Lyft Inc, announced on Friday that it will cut jobs “significantly” through another round of layoffs to cut costs. The announcement sent the company’s share price jumping. The company declined to provide details on how many employees would be affected by the move, but the Wall Street Journal previously…
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US Futures, European Stocks Slip, With Earnings in Focus
In the U.S., futures for the S&P 500 were down 0.5% and futures for the Dow Jones Industrial Average fell 0.5%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.2% in morning trading. Koninklijke Philips rose 9.3% and THG climbed 6.4%. On the other…
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Top Company News of the Day
Credit Suisse Details Painful Final Days Before Rescue The Swiss bank gave a glimpse of its chaotic final weeks before a rescue by UBS in a first-quarter earnings report that showed revenue diving and customers rushing to pull deposits. J&J Consumer-Health Unit’s Listing to Test IPO Market The company is poised to begin a roadshow…
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Tesla Raises Prices After Share Drop, Procter & Gamble Raises Prices
Tesla Raises Prices After Share Drop Tesla (NASDAQ:TSLA) has raised the prices of its two most expensive models, hours after its shares dropped due to concerns that its aggressive price-cutting policy would harm profits. The electric car maker is lowering prices in the US to boost demand and fill its factories in California, Texas, Germany,…
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Eurozone Activity Rises, UK Retail Sales Contract in March, Japan’s Inflation Outpaces Expectations
Rapid Support Forces Announce Ceasefire The Rapid Support Forces, a militia group fighting against Sudan’s ruling military junta, has announced a 72-hour ceasefire for the Muslim holiday of Eid al-Fitr, with the purpose of opening up humanitarian corridors to evacuate citizens. The army has not responded to the announcement. Previous attempts at a ceasefire since…
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Near-Term Uncertainty May Lead To Choppy Trading On Wall Street
US Market The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to show a lack of direction after ending the previous session mostly lower. Traders may be reluctant to make significant moves as they look for additional clarity about the outlook for the markets following the…
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European Midday Briefing: Stocks Mostly Higher After PMI Data
Market Wraps Stocks: European stocks were mostly higher on Friday, following data from a purchasing managers survey showed activity in the eurozone manufacturing and services sectors increased in April. The PMI data for the eurozone points to continued economic resilience in April, but this was fully driven by the services sector, which is still benefiting…
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Top Company News of the Day
SAP Updates Guidance on Qualtrics Divestment SAP revised its outlook for the year to account for the stake in Qualtrics International that it is divesting as the group continues to focus on its cloud business, the main driver of revenue growth in the first quarter. Barclays Names HSBC Executive as Compliance Chief Kirsty Everett is…
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US Futures Fall, European Stocks Mixed
In the U.S., futures for the S&P 500 were down 0.1% and futures for the Dow Jones Industrial Average declined 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. EssilorLuxottica added 5.4% and Alstria Office REIT climbed 2.7%. On the…
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SpaceX Starship Launch Fails, BuzzFeed Shuts Down News, BHP Lowers Production Outlook
Disappointing Earnings Reports Decline Stocks US and European stocks declined on Thursday after several disappointing first-quarter earnings reports. The S&P 500 index (SPI:SP500) fell by 0.6%, while the Nasdaq Composite (NASDAQI:NDX) dropped by 0.8%. Shares in Tesla (NASDAQ:TSLA) fell nearly 10% after the company reported that price cuts had further lowered its profit margin. AT&T…