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FINANCIAL NEWS
Roblox spooks investors in latest earnings miss
Roblox spooks investors in latest earnings miss

It's been a challenging week for Roblox, with its stock plunging more than 20% Wednesday after the online video game company reported a larger-than-expected loss for the third quarter.

Amazon shrinks, wiping $1 trillion in market value
Amazon shrinks, wiping $1 trillion in market value

On Wednesday, Amazon shares hit a new 52-week low, closing at $86.14 a share and making it the first-ever public US company to lose more than $1 trillion in market capitalization.

Disney shares plunge following weak quarterly results, plans to cut costs
Disney shares plunge following weak quarterly results, plans to cut costs

After Walt Disney Co. reported weaker-than-expected fourth-quarter earnings Tuesday and wiped out about $15 billion in market value, the company said it plans to cut marketing and content budgets.

3 Things to watch in today's markets
3 Things to watch in today's markets

Facebook parent Meta Platforms Inc. is planning to begin widespread job cuts, joining Salesforce Inc. as it cut hundreds of workers from sales teams, seeking to improve profitability while facing slowing demand. Elsewhere, Billionaire Elon Musk unloaded another batch of Tesla Inc. shares to help fund his Twitter Inc. buyout.

Airbnb shares fall on weak quarterly guidance and despite earnings beat
Airbnb shares fall on weak quarterly guidance and despite earnings beat

On Tuesday, Airbnb shares fell after the company gave a fourth-quarter revenue forecast below market estimates, suggesting that consumer preferences are moving away from higher-cost rentals and back to urban and cross-border destinations.

Meta plunges on weak quarterly forecast and its bets on the metaverse
Meta plunges on weak quarterly forecast and its bets on the metaverse

On Wednesday, Meta Platforms, formerly known as Facebook, gave a weak fourth-quarter forecast below analysts' estimates and a significant rise in cost next year, sending shares down nearly 20%.

Netflix snaps back at subscribers growth, adding 2.41 million viewers
Netflix snaps back at subscribers growth, adding 2.41 million viewers

After significant losses in its previous quarters, streaming giant Netflix snapped back to subscriber growth in the third quarter, giving the company a jump as it works to execute its latest strategic shift.

How does Standard European Time affect US trading markets
How does Standard European Time affect US trading markets

With Daylight Savings Time ending on 30 October 2022 across most of Europe, US stock market hours have changed from 15:30-22:00 to 14:30-21:00 Central European Time (+1), Monday to Friday.

Spotify boost subscriber growth, shares plunge on margin warning
Spotify boost subscriber growth, shares plunge on margin warning

Though Spotify Technology SA on Tuesday said third-quarter profit margins might narrow because of programming costs, the music-streaming giant posted a better-than-expected rise in revenue and users despite market headwinds.

Snap plunges over 26% on weak sales growth and quarterly revenue miss
Snap plunges over 26% on weak sales growth and quarterly revenue miss

Shares of Snap plunged over 26% in after-hours trading Thursday after posting a further slowdown in sales growth and signaling the digital-ad market could remain lackluster for some time in a disappointing third-quarter report.

Tech stocks weigh on US futures after disappointing quarterly results
Tech stocks weigh on US futures after disappointing quarterly results

US equity futures fell after post-market slumps in mega-cap technology shares dampened the mood of a three-day rally on Wall Street and raised new doubts about whether this year's $5.5 trillion selloff is nearing the bottom.

Shares of Alibaba and other Chinese tech stocks plunge as Xi retains control
Shares of Alibaba and other Chinese tech stocks plunge as Xi retains control

After President Xi Jinping was confirmed to a historic third term as leader of the world's second-largest economy, shares of US-listed Chinese stocks tumbled in premarket trading Monday.

Verizon stumbles on subscriber growth amid higher prices
Verizon stumbles on subscriber growth amid higher prices

On Friday, Verizon Communications Inc. reported it lost 189,000 monthly bill-paying phone subscribers in its consumer business and added fewer-than-expected wireless subscribers in the third quarter.

3 Market movers in the latest round of earnings reports
3 Market movers in the latest round of earnings reports

Tesla Shares Fall on Sales Miss and troublesome quarter, while IBM and P&G sales beat estimates, sending shares up on the news. Here's what you need to know in today's markets:

United Airlines gains on profit forecast as strong travel demand continues
United Airlines gains on profit forecast as strong travel demand continues

With consumer appetite for travel showing no signs of slowing down despite a run-up in ticket prices, United Airlines said Tuesday it expects its operating profit margin to surpass pre-pandemic levels in the final quarter of 2022.

Intel's Mobileye plans to offer 41 Million shares in IPO
Intel's Mobileye plans to offer 41 Million shares in IPO

According to a prospectus filed with the SEC, Intel Corp's Mobileye said it plans to offer 41 million class A shares at a projected price of $18 to $21 per share of its initial public offering.

Goldman Sachs could announce major reorganization to combine businesses
Goldman Sachs could announce major reorganization to combine businesses

Goldman Sach, which is expected to announce the changes on October 18, plans to combine its biggest businesses into three divisions, with its storied investment banking and trading businesses merged into a single unit.

Kroger announces $24.6 billion deal to compete with rival Walmart
Kroger announces $24.6 billion deal to compete with rival Walmart

After eyeing the retail chain for a while, grocery giant Kroger Co. agreed last week to buy Albertsons for $34.10 per share in a deal valued at $24.6 billion.

Beyond Meat announces another round of job cuts, shares plunge
Beyond Meat announces another round of job cuts, shares plunge

In a strategic shift to achieve more sustainable growth, plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August.

Intel could cut thousands of jobs as demand for PC processors slows
Intel could cut thousands of jobs as demand for PC processors slows

According to a Bloomberg News report Tuesday, Intel corp is looking to make significant job cuts in the coming period, citing people with knowledge on the matter.

PepsiCo shares climb on resilient demand despite fresh price increases
PepsiCo shares climb on resilient demand despite fresh price increases

PepsiCo on Wednesday got a lift from an upbeat sales outlook and profit on the back of fresh price increases for its sodas and snacks to fight rising costs while signaling resilient demand.

Rivian shares fall sharply after recalling 13,000 of its electric vehicles
Rivian shares fall sharply after recalling 13,000 of its electric vehicles

Shares of Rivian fell sharply Monday after the California-based company said it would recall nearly all of its vehicles.

Following widespread criticism, PayPal backtracks policy that fines users $2,500
Following widespread criticism, PayPal backtracks policy that fines users $2,500

Paypal Holdings Inc. walked back on a published policy over the weekend that foresaw fining users $2,500 for spreading misinformation.

Denbury shares climb on talks of Exxon Mobil takeover, Bloomberg
Denbury shares climb on talks of Exxon Mobil takeover, Bloomberg

Shares of Denbury soared to an all-time intraday high, climbing as much as 12% on Monday after Bloomberg reported Exxon Mobil was considering a takeover of the oil-recovery specialist.

A statement from Peloton CEO calls for another 500 job cuts
A statement from Peloton CEO calls for another 500 job cuts

Peloton Interactive Inc.'s chief executive said it plans to cut about 500 jobs in a move that should position the struggling fitness equipment maker to return to growth

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