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FINANCIAL NEWS
Snap falls sharply after profit warning, drags rivals with it
Snap falls sharply after profit warning, drags rivals with it

Shares of the social media company Snap Inc. plunged as much as 30% in extended trading Monday after warning that it may miss its second-quarter guidance and cut its revenue and profit forecasts below the low end of previous expectations.

Airbnb quits business in China amid competition and lockdowns
Airbnb quits business in China amid competition and lockdowns

On Tuesday, Vacation rental firm Airbnb Inc. decided to vacate its Chinese operations amid stiff competition and strict lowdowns, joining a long list of Western internet platforms that have opted out of the China market.

Home Depot raises profit outlook on steady demand, shares climb
Home Depot raises profit outlook on steady demand, shares climb

Atlanta-based home improvement retailer Home Depot reported first-quarter earnings that topped expectations and raised its full-year profit forecast.

5 Things to watch in this week's markets
5 Things to watch in this week's markets

Disappointing results from major retailers last week rattled markets already hit by uncertainty over inflation, rising interest rates, geopolitical uncertainty and the prospect of recession. Here's what's ahead of this week's markets:

Under Armour announces unexpected departure of CEO
Under Armour announces unexpected departure of CEO

Early this week, athletic apparel maker Under Armour announced the imminent and unexpected departure of its chief executive officer, Patrik Frisk.

Cisco spooks investors on bleak outlook; shares plunge
Cisco spooks investors on bleak outlook; shares plunge

Cisco Systems Inc. spooked investors Wednesday after generating lower quarterly revenue than analysts expected, sending shares down by as much as 17% in extended trading.

Walmart falls sharply; poised to survive inflationary pressures
Walmart falls sharply; poised to survive inflationary pressures

On Tuesday, Walmart cut its full-year profit forecast that missed Wall Street's expectations by a wide margin, sending shares tumbling 11.38%, the worst beat in nearly 35 years.

Carvana rises on profitability, on track for recovery
Carvana rises on profitability, on track for recovery

Shares of Carvana Co. were trading nearly 15% higher Monday after the company provided a ray of sunshine on how it intends to cut costs and generate free cash flow (FCF) following several dismal quarters.

McDonald's to exit Russia after 30 years, seeks buyer for stores
McDonald's to exit Russia after 30 years, seeks buyer for stores

After serving the country for more than three decades, McDonald's Inc. has officially started a process to pull out of Russia, selling all its restaurants to a local buyer, the company said Monday.

5 Things to watch in this week's markets
5 Things to watch in this week's markets

Friday's end-of-week bounce in equity markets came following hopes that markets are near the bottom after a brutal slide. However, the tumble might not be over. Here's what to watch as we head into this week's markets:

Rivian maintains production forecast as supply chain challenges continue
Rivian maintains production forecast as supply chain challenges continue

On Wednesday, electric vehicle maker Rivian reported first-quarter revenues below Wall Street expectations and maintained its production forecast of 25,000 units for 2022.

Affirm soars 21% on profit beat, more room for growth?
Affirm soars 21% on profit beat, more room for growth?

Affirm Holdings Inc., the technology-driven payments network, reported better-than-expected revenue growth of 53.8% year-over-year to $354.8 million, topping estimates of $344.03 million.

AMC ticket sales soar as moviegoers return to theaters
AMC ticket sales soar as moviegoers return to theaters

(AMC) Entertainment Holdings Inc., the world's largest movie theatre chain, reported first-quarter sales more than five times higher than the year-ago period, which beat analysts' estimates as moviegoers return to theaters.

Uber warns of hiring slow down; shifts focus on profitability
Uber warns of hiring slow down; shifts focus on profitability

According to a CNBC report Monday, Uber Technologies will scale back hiring and reduce expenditure on its marketing and incentive activities. The ride-hailing company becomes the latest to rein over a hiring slow down.

5 Things to watch in this week's markets
5 Things to watch in this week's markets

On Friday, the broader U.S. stock market averages fell across the board, while equity markets were roiled following the Federal Reserve's delivery of a widely expected half percentage point rate hike. With more market uncertainty in store, here's what you need to know to start your week.

Stocks rally after Powell vows to curb inflation with Fed hikes
Stocks rally after Powell vows to curb inflation with Fed hikes

On Wednesday, Federal Reserve Chair Jerome Powell assured Americans that policymakers would do their best to curb surging inflation following the Fed's decision to hike interest rates by 50 basis points for the first time in 22 years.

5 Things to watch in this week's market
5 Things to watch in this week's market

This week's earnings will continue to roll in following the worst month for stocks in over two years. Moreover, Friday's U.S. employment report forecasts robust jobs growth in April, another key part of the Fed’s mandate.

Amazon stocks plunge amid slow sales growth; warehousing demand cools
Amazon stocks plunge amid slow sales growth; warehousing demand cools

Amazon stock plunged Friday after reporting its first quarterly loss since Jeff Bezos stepped down as its CEO and its slowest sales growth since 2001.

Apple reports solid growth for non-holiday period, warns of supply chain woes
Apple reports solid growth for non-holiday period, warns of supply chain woes

In the quarter that ended in March, Apple's revenue grew nearly 9% year-over-year to $97.3 billion, which is considered a record figure for this part of the calendar year.

Qualcomm reports robust outlook and record-breaking revenue amid diversification
Qualcomm reports robust outlook and record-breaking revenue amid diversification

Qualcomm reported a robust earnings outlook and record quarterly revenue for the last quarter, mainly due to its move to focus on growing a non-handset business amid the likelihood of slowing smartphone demand.

Meta gains on unexpected user growth, fuels gains in Nasdaq 100 futures
Meta gains on unexpected user growth, fuels gains in Nasdaq 100 futures

In premarket trading Thursday, Meta Platforms gained 17.5% to $205.60 after reporting better-than-expected user growth in the first quarter for its social media platform, Facebook.

Microsoft shares rise amid strong profit outlook; driven by cloud-service demand
Microsoft shares rise amid strong profit outlook; driven by cloud-service demand

On Tuesday, shares of Microsoft Corp rose 6% in after-hours trading after the company posted better-than-expected revenue and a strong profit outlook on sales for the current quarter.

5 Things to watch in this week's markets
5 Things to watch in this week's markets

With earnings season in full swing, a deluge of tech titans scheduled to post quarterly results, will keep investors' ears to the ground this upcoming week.

Charles Schwab shares drop amid disappointing quarterly results
Charles Schwab shares drop amid disappointing quarterly results

Shares of multinational savings and loan holdings company Charles Schwab dropped 9.5% on 18 April to close at $74.94 after the firm reported a decline in quarterly revenue and missed Wall Street estimates.

Netflix grapples with stiffer competition, loses 200,000 subscribers
Netflix grapples with stiffer competition, loses 200,000 subscribers

As the streaming giant grapples with stiffer competition from rival services and rampant account sharing among its customers, Netflix Inc. lost 200,000 subscribers globally, the first decline in over ten years.

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