Earnings Results: Arista Networks shares soar on sales, earnings beat and strong guidance
Arista Networks reported its first billion-dollar revenue quarter according to CEO Jayshree Ullal.
Arista Networks reported its first billion-dollar revenue quarter according to CEO Jayshree Ullal.
Shares of Avis Budget Group Inc. were up more than 4% in after-hours trading Monday after the company easily topped profit expectations for its latest quarter. The rental-car company posted net income of $774 million, or $15.71 a share, compared with $398 million, or $5.63 a share, in the year-earlier period. On an adjusted basis, Avis earned $15.94 a share, up from $5.90 a share a year before and above the FactSet consensus, which was for $11.48 a share. Revenue climbed to $3.24 billion from $2.37 billion... Читать дальше...
Pew finds a broad majority of Americans support providing incentives for electric vehicles, but are more divided when it comes to an actual EV purchase.
U.S. stocks finished lower Monday, kicking off August on a downbeat note, after a strong July rally carried the main equity benchmarks to their best month of gains in almost two years. The Dow Jones Industrial Average shed about 45 points, or 0.1%, to end the session near 32,799. The S&P 500 index lost 0.3%, while the Nasdaq Composite Index closed 0.2% lower. The month of August kicked off under a series of unknowns, including whether investors betting on the Federal Reserve to "pivot"... Читать дальше...
After bang-up gains in July, stocks start August with a mild move lower
Producer Shonda Rhimes called out the Grammy-winning parody for its ‘blatant taking of intellectual property’ following a recent Kennedy Center performance.
The funding would help the IRS improve customer service and do more audits on wealthy taxpayers, Democrats say.
Two prominent and influential proxy advisory firms are urging Tesla Inc. investors to vote against the reelection of two board directors, and are recommending they defy the company's wishes and vote for six out of eight shareholder proposals.
Both international and U.S.-based crude oil benchmarks fell sharply on Monday after clinching their second straight monthly loss in July.
The Treasury Department on Monday said it expects to borrow $444 billion in privately-held net marketable debt during the July-September 2022 quarter, assuming an end-of-September cash balance of $650 billion. The borrowing estimate is $262 billion higher than announced in May 2022, primarily due to changes to projections of fiscal activity and the estimated impact of Federal Reserve System Open Market Account, or SOMA, redemptions of $120 billion, the department said. During the October-December 2022 quarter... Читать дальше...
Oracle Corp. has begun layoffs, according to multiple reports Monday. Job cuts affecting employees in the Bay Area have started, according to The Information, which also reported last month that the tech giant is planning to slash thousands of jobs as it seeks to shave $1 billion in costs. Some employees in the customer-experience unit were told Monday that their jobs were being eliminated, Bloomberg News reported, citing LinkedIn posts by affected employees. Oracle, which moved its headquarters from Redwood City... Читать дальше...
Shares of Opendoor Technologies Inc. fell 2.7% in afternoon trading Monday, after the U.S. Federal Trade Commission said subsidiary online home buying company Opendoor Labs Inc. will have to pay $62 million for deceiving potential home sellers. The FTC said it took the action because of its allegations that Opendoor "pitched potential sellers using misleading and deceptive information, and in reality, most people who sold to Opendoor made thousands of dollars less" than if they sold their homes using the traditional process. Читать дальше...
A measure called 'economic connectedness' is 'among the strongest predictors of upward income mobility identified to date,' new research finds.
Shares of Atlas Worldwide Holdings shot up 12.5% toward a four-month high in volatile afternoon trading Monday, after The Wall Street Journal reported that the aircraft and aviation operating services was in advanced buyout talks by a group led by asset management services company Apollo Global Management Inc. The stock, which was up as much as 16.2% earlier in the session, has been halted once for volatility in afternoon trading. The WSJ report, which cites people familiar with the matter, said a deal could come soon... Читать дальше...
The U.S. "will not be intimidated" by China's opposition to a potential visit to Taiwan by House Speaker Nancy Pelosi, a White House spokesman said Monday. Local media in Taiwan reported that Pelosi will arrive Tuesday night, becoming the highest-ranking elected U.S. official to visit in more than 25 years, the Associated Press reports. Briefing reporters at the White House, National Security Council spokesman John Kirby said Pelosi hasn't confirmed a visit, but that if she does go, "it doesn't... Читать дальше...
Gold futures climbed for a fourth straight session on Monday, cementing the longest winning streak for a most-active contract since May 24, according to Dow Jones Market Data. The most-active December gold contract gained $5.90, or 0.3%, to settle at $1,787.70 per troy ounce, per FactSet data. Previously, gold cemented its biggest weekly gain since March on Friday, as metals prices benefited from the perception that the Federal Reserve might pivot to raising interest rates at a slower rate following Wednesday's 75 basis-point hike. Читать дальше...
As more cities ban new gas hookups in homes, Rep. Raja Krishnamoorthi writes to the Consumer Product Safety Commission over lack of venting and other concerns.
Shares of First Solar Inc. climbed 1.3% toward an eight-month high in afternoon trading Monday, after BofA Securities analyst Julien Dumoulin-Smith backed away from his bearish stance on the solar power systems company, citing upbeat policy developments and pricing potential. Dumoulin-Smith raised his rating to neutral from underperform, and boosted his stock price target by 66%, to $104.50 from $63.00. The upgrade follows the surprise agreement among Democrats on the Inflation Reduction Act (IRA)... Читать дальше...
The bill will now go to the desk of Republican Gov. Charlie Baker, who is expected to sign it.
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Apple will borrow again in the debt market to raise money to reward stockholders
Apple Inc. is again planning to issue debt to reward its shareholders by buying back its own shares and paying dividends, according to a regulatory filing. The iPhone maker is planning a four-part deal comprised of 7-year, 10-year, 30-year and 40-year bonds. Goldman Sachs, BofA Securities and JP Morgan are underwriting the deal. The company has not yet disclosed how much it expects to raise in the deal, but said proceeds are earmarked for general corporate purposes, including the shareholder returns... Читать дальше...
Estée Lauder Companies has held talks to buy luxury fashion brand Tom Ford, in a deal that could be valued at $3 billion or more, according to a report in The Wall Street Journal. Shares of New York-based Estée Lauder, which sells skin care, makeup and fragrance products under brands that include MAC, Clinique, Origins and Estée Lauder, edged up 0.1% in midday trading Monday. The WSJ report, which cited people familiar with the matter, said there is no guarantee that an agreement will be reached... Читать дальше...
Roku Inc. shares plunged a record 23.1% in Friday's session following a downbeat earnings report, but they were looking to take back at some of those losses Monday with a double-digit gain.
President Joe Biden tested positive for COVID-19 for a third straight day on Monday, in what appears to be a rare case of 'rebound' following treatment with the antiviral Paxlovid.
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