By Jaspreet Singh (Reuters) -Snap beat Wall Street estimates for quarterly profit on Tuesday, benefiting from improvements to the Snapchat parent’s advertising platform, sending its shares up 6% in extended trading. Social media firms and advertisers are navigating an uncertainty around a possible ban of popular short video app TikTok in the U.S. that could …
Snap beats profit estimates on advertising platform strength Read More »
By Pete Schroeder, Nupur Anand WASHINGTON (Reuters) -The Federal Reserve announced on Tuesday it had terminated a pair of enforcement actions imposed on Wells Fargo in 2011, but said the bank’s asset cap remained in place. The enforcement actions were related to deficient practices in mortgage servicing and foreclosures by the bank, and mortgage lending …
Fed ends two regulatory punishments imposed on Wells Fargo in 2011 Read More »
By Juveria Tabassum and Waylon Cunningham (Reuters) -Chipotle Mexican Grill said on Tuesday that if President Donald Trump’s proposed tariffs on Mexico go into full effect, the burrito maker would see a roughly 60-basis-point impact on its raw material costs this year. The forecast from the popular eatery — while yet a small hit — …
Chipotle assesses fallout from Mexico tariffs, forecasts tepid annual sales growth Read More »
(Reuters) – Commercial real estate investment trust Simon Property Group beat market expectations for fourth-quarter funds from operations on Tuesday, as leasing demand remained steady for its U.S. malls and premium outlets. The company saw revenue growth across its businesses while maintaining cost discipline, and said it plans to open premium outlets in Jakarta, Indonesia …
Simon Property beats estimates for quarterly funds from operations Read More »
By Juby Babu (Reuters) -Match Group said on Tuesday it has appointed Spencer Rascoff as its new chief executive officer, at a time the company looks to attract more users to its dating apps, including its flagship platform Tinder. Shares of the company dropped 9% in extended trading, after it forecast annual revenue below Wall …
Match names new CEO amid slowing user engagement, issues dour annual forecast Read More »
By Deena Beasley (Reuters) – Amgen posted a higher quarterly profit on Tuesday as product sales rose 11% and said late-stage studies of key obesity drug candidate MariTide will start before mid-year but regulators have placed a hold on an early-stage trial of a different experimental weight-loss drug. The company’s shares, which have gained more …
Amgen profits rise, next MariTide studies start by mid-year Read More »
By Max A. Cherney, Stephen Nellis, Arsheeya Bajwa (Reuters) -Advanced Micro Devices failed to impress investors waiting for the chipmaker to gain ground against AI heavyweight Nvidia, even as its quarterly results and revenue outlook exceeded analyst estimates on Tuesday. Shares of the Santa Clara, California-based company dropped about 10% in extended trading. AMD’s shares …
AMD shares tumble as CEO forecasts declining data center sales Read More »
By Zaheer Kachwala (Reuters) – Electronic Arts forecast fourth-quarter bookings below Wall Street expectations on Tuesday, as the videogame publisher grapples with a slowdown in spending at its popular soccer franchise. It also announced a $1 billion share repurchase plan, which sent its shares up around 3% in extended trading. The downbeat projection comes a …
EA forecasts fourth-quarter bookings below estimates amid muted gamer spending Read More »
By Jonathan Stempel (Reuters) – The Delaware Supreme Court on Tuesday issued a decision involving TripAdvisor that could make it easier for some companies to move out of the state, which is the corporate home for about two-thirds of the Fortune 500. In a 5-0 decision, the court said a trial judge erred by making …
Delaware Supreme Court eases path for some companies to leave state Read More »
By Jonathan Stempel (Reuters) – Target has been sued for allegedly concealing the risks of its diversity and social initiatives, leading to a backlash that caused customers to flee and the stock price of the Minneapolis-based retailer to plummet. In a proposed class action on Friday, shareholders led by the City of Riviera Beach Police …
Target is sued for defrauding shareholders about DEI Read More »
