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Meta shares pop on sales increase, Roku earnings beat
Facebook Parent Meta Platforms Sees First Sales Increase in Nearly a Year The company (NASDAQ:META) reported revenue of $28.6 billion, up 3% from a year prior, as it continues to improve after the loss of ad-tracking capabilities in 2021. Bristol-Myers CEO Giovanni Caforio to Step Down Chief Commercialization Officer Christopher Boerner will take over after…
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Crypto this Wednesday: NEAR Blockchain Goes Live, WeChat Integrates Digital Yuan, and More
Circle CEO says USDC is Empowered by US Banking crisis Stablecoin USDC (COIN:USDCUSD) has emerged from the March banking crisis stronger and safer, Jeremy Allaire, CEO of broadcaster Circle Internet Financial, said on Wednesday onstage at CoinDesk’s Consensus conference. The USD Coin, a critical rail for moving money through the crypto industry, lost its peg to…
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Upbeat Tech Earnings May Lead To Rebound On Wall Street
US Market The major U.S. index futures are currently pointing to a higher open on Wednesday, with tech stocks likely to help lead a rebound on Wall Street following the sell-off seen in the previous session. The upward momentum partly reflects a positive reaction to earnings news from Microsoft (MSFT), as the software giant is…
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Wednesday’s Wall Street Highlights: Microsoft, Activision Blizzard, Chipotle, Coinbase and more
Main subjects of the day US stock futures rose on Wednesday morning as Big Tech earnings began to roll in, starting with earnings from Alphabet and Microsoft. By 8:09 AM, Dow Jones futures were up 0.10%, while S&P 500 futures were up 0.09% and Nasdaq 100 futures gained 0.76%. In regular Tuesday trading, major indexes tumbled as First Republic…
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Carrier to Acquire Business in Viessmann’s Unit for $13.17 Bln
Carrier Global, a global air conditioner manufacturer, has acquired a division of the Viessmann Group, a German industrial company that makes heating boilers and heat pumps, in a €12 billion ($13.17 billion) cash-and-stock deal. The acquisition is expected to strengthen the carrier’s strategy to capitalize on Europe’s rapid energy transition and provide access to a…
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Stellantis Plans to Cut U.S. Hourly Jobs – Union Letter
Stellantis NV, the parent company of Chrysler, is cutting about 3,500 hourly jobs in the United States and seeking to offer a willing and voluntary exit package, the UAW union said in a letter released Tuesday. The automaker is proposing an incentive package that includes a $50,000 payout to workers hired before 2007 and is…
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LG Display, After 4 Consecutive Quarters Of Loss, Expected To Turn To Profit In H2
LG Display (NYSE:LPL) announced on Wednesday that it will improve its second half performance by upgrading its business structure centered on ‘order-based business’ after four consecutive quarterly losses. LG Display (KOSPI:034220) disclosed that its sales for the first quarter of 2023 were KRW 4.411 trillion (approximately $3.3 billion) and an operating loss of KRW 1.984…
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Chipotle Beats Q1 Earnings on Price Hikes, New Store Openings
Chipotle Mexican Grill Inc. reported first-quarter earnings and revenue on Tuesday to beat Wall Street estimates, buoyed by higher menu prices, the opening of 41 new restaurants and some recovery in consumption by lower-income customers. The announcement sent the stock skyrocketing in after-hours trading. The company said it expects mid- to high-single digit growth in…
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North American Morning Briefing: Microsoft Rally Lifts Nasdaq
Market Wraps Watch For: Durable Goods Orders for March; Advance Economic Indicators Report for March; EIA Weekly Petroleum Status Report; Bank of Canada summer of monetary policy deliberations; Goldman Sach annual shareholders meeting; Earnings from Boeing, Meta Platforms, Mattel Opening Call: Stock futures rose Wednesday as a surge in Microsoft shares boosted broader market sentiment.…
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Global Pharmaceutical Giant GSK’s Q1 Results Beat Expectations
Global biopharmaceutical company GSK (LSE:GSK) beat expectations for first-quarter revenue and profit on Wednesday, buoyed by sales of its blockbuster shingles vaccine Shingrix. The London-listed pharmaceutical company reported adjusted earnings of 37 pence per share on sales of around £7 billion ($8.7 billion). The consensus of analysts compiled by the company was expecting 33.2 pence…