Day: October 19, 2022
A key deal maker behind Facebook’s acquisitions of Instagram, WhatsApp and Oculus is leaving the company after more than a decade. “After almost 12 incredibly fulfilling years at Meta/Facebook, I have decided to leave the company,” Amin Zoufonoun said in a Facebook post. The departure comes amid a tech M&A crackdown by U.S. and European […]
The Japanese yen paired with the US dollar has updated another low. The current quote in the USDJPY is 149.38. The depreciation of the yen seems to have gained a “second wind” – the rate of decline of the Japanese currency has increased recently. It is likely that this is due to the fact that […]
The lack of a decisive catalyst and the strength in the United States Dollar Index (DXY) has kept the recovery of risky assets under check. Bitcoin (BTC) remains stuck inside a tight range, searching for that elusive breakout. The longer the time Bitcoin spends inside the range, the greater will be the eventual breakout from […]
AT&T Inc. T, -0.38% is reportedly in talks to put together a joint venture that would focus on investments in fiber-optic network expansion, Bloomberg News said Wednesday afternoon. The telecommunications giant is working with Morgan Stanley as it looks for an infrastructure partner for the JV, per the report. The JV could be valued at […]
U.S. stocks finished lower on Wednesday, with the major indexes logging their first loss in three days, as Treasury yields and the dollar continued to climb, outweighing more strong earnings reports from American firms. The S&P 500 SPX, -0.67% finished down 24.82 points, or 0.7%, at 3,695.16. The Dow Jones Industrial Average DJIA, -0.33% closed […]
Ally Financial Inc. ALLY, -7.94% shares fell 6.5% in premarket trades on Wednesday after the mortgage, car loan and banking provider’s adjusted earnings per share and revenue fell short of analyst targets. Ally Financial said its third-quarter net income fell to $272 million, or 88 cents a share, from $712 million, or $1.89 a share, […]
The two new omicron subvariants dubbed BQ.1 and BQ.1.1 are spreading fast in the New York region and could account for up to 36.6% of new cases, nearly double the top of the range for all of the U.S., according to Centers for Disease Control and Prevention data. The two variants accounted for 11.5% and […]
Shares of Generac Holdings Inc. GNRC, -25.34% sank 10.7% toward a more than two-year low in premarket trading Wednesday, after the maker of home and industrial power systems reported third-quarter profit and sales that fell well below expectations and cut its full-year outlook, citing disappointing residential sales. Net income fell to $58 million, or 83 […]
Alcoa Corp.’s stock AA, -5.26% slid 7% in after-hours trading Wednesday after the bauxite, alumina and aluminum products company reported a third-quarter loss of $746 million, after reporting a $337 million profit in the same period a year earlier. Alcoa recorded a net loss of $4.17 per share. Losses, adjusted for non-recurring costs, came to […]
President Joe Biden on Wednesday offered fresh harsh words for Russian President Vladimir Putin, as he responded to a reporter’s question about the significance of Putin’s declaration of martial law in the four Ukrainian regions that Moscow has annexed. “I think Vladimir Putin finds himself in an incredibly difficult position,” Biden said. “What it reflects […]
