By Abigail Summerville (Reuters) -U.S. stock indexes closed lower on Wednesday as chip stocks tumbled and investors awaited a host of corporate earnings. Microsoft and Meta Platforms reported earnings after the bell, with both beating quarterly revenue estimates. Shares of Alphabet, the first of the five “Magnificent Seven” megacap stocks that reported results this week, …
Wall street ends lower ahead of megacap earnings Read More »
(Reuters) -Ecommerce firm eBay forecast fourth-quarter revenue below Wall Street estimates on Wednesday as cautious consumers shun collector’s items and refurbished goods, sending its shares down more than 7% in extended trading. The broader economy is still fluctuating and customers are cautious about discretionary spending. Several discretionary marketplaces have been struggling to sustain growth, analysts …
EBay forecasts revenue below estimates on weak demand, shares fall Read More »
By Arasu Kannagi Basil and Atharva Singh (Reuters) -Retail trading platform Robinhood’s third-quarter earnings fell short of expectations on Wednesday, a miss it attributed to an accounting quirk related to incentives that the company said Wall Street analysts had overlooked, sending its shares down 11% after the bell. Chief Financial Officer Jason Warnick said on …
Robinhood earnings miss Street expectations, shares tumble 11% Read More »
(Reuters) – MGM Resorts International missed market expectations for third-quarter profit and revenue on Wednesday, hurt by weak sales in its Las Vegas casino business, sending its shares down more than 5% in extended trading. Quarterly revenue from its Las Vegas casino operations fell 13% to $476 million, while winnings from table games in the …
MGM Resorts misses quarterly estimates on sluggish Las Vegas business Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) – Spirit Airlines will furlough about 330 pilots on Jan. 31, 2025, a company spokesperson told Reuters, as part of its efforts to cut costs and shore up its finances. The ultra-low-cost carrier has been losing money despite strong travel demand. It has failed to report a profit in …
Spirit Airlines to furlough hundreds of pilots to cut costs Read More »
By Deena Beasley (Reuters) -Amgen reported a higher quarterly profit on Wednesday, driven by a 24% rise in sales of drugs for high cholesterol and osteoporosis, and said mid-stage trial results for a potentially lucrative obesity medicine will be unveiled late this year. The U.S. biotech company said adjusted third-quarter earnings rose 13% from a …
Amgen posts higher profit, obesity data on track for late this year Read More »
(Reuters) – MetLife reported a fall in third-quarter adjusted profit on Wednesday, owing to weak performance in the insurer’s group benefits business, sending its shares down 5.5% after the bell. Adjusted earnings from MetLife’s group benefits business — which offers dental, disability, vision, accident, health and life insurance — slid 27% to $373 million from …
MetLife profit falls on group benefits business weakness Read More »
(Reuters) -Fertilizer maker CF Industries on Wednesday reported a 68% rise in third-quarter profit, aided by strong prices for nitrogen fertilizers. Benchmark ammonia prices reached to about $530 per ton in September from $410 per ton at the end of June, aided by production shut-ins in Trinidad and Egypt. Prices of natural gas, a key …
CF Industries quarterly profit jumps 68% on higher prices Read More »
By Rory Carroll LOS ANGELES (Reuters) – Longtime Nike executive John Slusher on Wednesday was named CEO of the U.S. Olympic and Paralympic Properties (USOPP), the entity charged with marketing and selling commercial assets for the 2028 Games in Los Angeles and rights to Team USA through 2028. Slusher will oversee all LA28 and USOPP …
Olympics-Nike executive Slusher named CEO of USOPP Read More »
(Reuters) -Etsy beat third-quarter gross merchandise sales (GMS) and revenue estimates on Wednesday, helped by steady demand from new and habitual buyers for products like handcrafted antiques at its online marketplace, sending its shares up about 11% in extended trading. The company said its board has approved a new share repurchase program for an additional …
