By Joseph White and Paul Lienert DETROIT (Reuters) -Ford Motor Co ended 2021 with $36 billion in cash, a crop of hot-selling new electric vehicles and a bullish forecast for revenue and profit growth this year, but that was not enough for investors. Ford shares dipped as much as 5% in after-hours trading on Thursday …
(Reuters) – Shares of Snap and Pinterest surged in extended trading on Thursday following strong quarterly reports, and Twitter also jumped, marking a massive reversal from a wipeout in those social media stocks earlier in the day following a dismal forecast from Meta Platforms. Snap rocketed 62% higher after the company reported better-than-expected fourth-quarter user …
Strong results from Pinterest, Snap spur turnaround in clobbered social media stocks Read More »
By Sheila Dang (Reuters) -Snap Inc on Thursday said its advertising business bounced back from the effects of Apple Inc’s privacy changes faster than it expected, and shares of the company skyrocketed 50% as it provided a first quarter outlook that surpassed analyst estimates. The results were good news for a tech sector hammered since …
Snap recovers from Apple privacy changes, shares surge 50% Read More »
By Svea Herbst-Bayliss BOSTON (Reuters) -Hedge funds Citadel and Saba Capital Management sidestepped January’s stock market selloff to post gains as many other firms started the year off in the red, investors in the funds said on Thursday. Ken Griffin’s Citadel told investors that its multi-strategy flagship Wellington fund gained 4.71% last month. The firm’s …
Citadel, Saba gain in January as market drop left many hedge funds with losses Read More »
By Tina Bellon AUSTIN, Texas (Reuters) – Tesla Inc on Wednesday applied for a permit to extend its existing Austin-based car factory with a building to produce cathodes for battery manufacturing, according to city filings and a spokeswoman. An application submitted on Wednesday for an Austin building permit under the program name “Cathode” listed the …
Tesla plans to build cathode building at Texas Gigafactory Read More »
By Jonnelle Marte and Aleksandra Michalska (Reuters) – Gina Marino quit two jobs last year. In the summer, she left a position at a small social media marketing agency for a bigger firm offering more money and greater responsibility. Three months later, despite liking her colleagues and the company but realizing she lacked passion for …
U.S. job market faces reshuffling as workers quit at near record rates Read More »
By David Shepardson WASHINGTON (Reuters) – U.S. lawmakers on Thursday blasted two federal agencies for failing to avoid an embarrassing last-minute standoff between the aviation and wireless industries over 5G C-Band deployment and airplane interference, with the head of the Federal Aviation Administration conceding “we need to do better as a country.” FAA Administrator Steve …
U.S. lawmakers blast agencies over 5G C-Band aviation spectrum ‘ridiculousness’ Read More »
By Jonnelle Marte (Reuters) – The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) unveiled on Thursday long-awaited technical research and open-source code that could be used as the groundwork for a potential central bank digital currency. The research does not suggest that the U.S. central bank will move toward launching …
Boston Fed, MIT release technical research on central bank digital currencies Read More »
By David Gaffen NEW YORK (Reuters) -Oil prices surged in late-day trading Thursday, sending the U.S. crude benchmark through $90 a barrel for the first time since 2014 due to ongoing supply worries and as frigid weather cascades across the United States. Global benchmark Brent crude settled at $91.11 a barrel, up $1.64, or 1.8%, …
U.S. oil busts through $90/bbl for first time since 2014 Read More »
By Maiya Keidan TORONTO (Reuters) -Facebook owner Meta Platforms Inc was widely held by hedge funds, according to recent data, leaving a number of funds potentially exposed by the wipe-out in its shares. Shares of Meta on Thursday touched their lowest level since July 2020 after the social media giant issued a dismal forecast in …
Facebook-owner Meta was popular stock for hedge funds before the slide Read More »
