(Reuters) – Shares of Carvana surged more than 30% in extended trading on Wednesday after the used-car seller forecast a surprise rise in current quarter retail sales and core profit. Carvana’s results come as high interest rates prompt consumers to look for deals on second-hand cars instead of buying new ones. Its shares, which have …
Carvana shares soar on upbeat forecast for core profit, retail sales Read More »
By Granth Vanaik and Waylon Cunningham (Reuters) – Shares of DoorDash sank more than 14% in extended trading on Wednesday after it projected second-quarter core profit below estimates, signaling that higher costs were offseting some gains from rising groceries and food orders. The San Francisco-based online food delivery firm has been forced to increase minimum …
DoorDash disappoints Wall Street with downbeat quarterly core profit Read More »
(Reuters) – U.S. shale producer Devon Energy beat first-quarter profit estimates on Wednesday as higher production from Delaware basin helped it offset a decline in natural gas prices. The Oklahoma City-based company also raised its full-year 2024 production outlook by 2% to a range of 655,000 to 675,000 barrels of oil equivalent per day (boepd). …
Devon Energy beats Q1 profit estimate on higher production Read More »
By David Lawder and Michael S. Derby NEW YORK (Reuters) -The looming U.S. presidential election will not influence the Federal Reserve’s interest rate decisions, Fed Chair Jerome Powell said on Wednesday, adding that policymakers were “at peace” with keeping political considerations out of their decision-making process. Powell, speaking in a news conference after the end …
Fed’s Powell says looming US election will not sway rate decisions Read More »
(Reuters) – First Solar reported higher first-quarter profit on Wednesday compared to the same period last year, helped by resilient demand for solar energy. The company reported a net profit of $236.6 million, or $2.20 per share, for the three months ended March 31, compared to $42.5 million, or 40 cents per share, in the …
First Solar posts higher quarterly profit on strong demand Read More »
(Reuters) – Ecommerce firm eBay forecast second-quarter revenue below Wall Street estimates on Wednesday, as demand cools for its key product categories like collector’s items and auto parts, sending shares down 5% in extended trading. The San Jose, California-based company has been under pressure as inflation-hit shoppers are becoming increasingly choosy about their online purchases, …
EBay forecasts Q2 revenue below estimates as consumer spending remains strained Read More »
By Michael S. Derby (Reuters) -The Federal Reserve announced plans on Wednesday to slow the speed of its balance sheet drawdown to ensure this process does not create undue stress in financial markets. The Fed said that starting on June 1 it will reduce the cap on Treasury securities it allows to mature and not …
Fed announces reduction in balance sheet runoff pace Read More »
(Reuters) -The Federal Reserve and other top U.S. regulators are forging ahead with their plan to make big banks hold more capital, Bloomberg News reported on Wednesday. Key officials have decided to adjust the original proposal rather than starting over and some of them are pushing to finalize it as soon as August, the report …
By Dietrich Knauth NEW YORK (Reuters) – Cable provider Comcast stopped broadcasting Bally Sports channels on Wednesday, taking some MLB games off the air and imperiling the bankruptcy restructuring of the sports channels’ operating company. Diamond Sports, a Sinclair subsidiary that broadcasts nearly half of all MLB, NHL and NBA games, has said that its …
Comcast pulls Bally Sports channels, imperiling US broadcaster’s restructuring Read More »
By Amanda Cooper LONDON (Reuters) -Bitcoin fell for a third day on Wednesday, having posted its worst monthly performance in April since late 2022, as investors pulled money out of cryptocurrencies ahead of an interest rate decision by the Federal Reserve later. The value of the world’s most traded cryptocurrency fell by nearly 16% in …
Crypto washout sends bitcoin below $58,000 into bear market Read More »
