Shares of JPMorgan, which is the biggest US bank by assets, surged more than 2% after the firm posted Q4 profit and revenue that topped expectations. The New York-based bank said profit jumped 6% from the year earlier period to $11.01 billion, or $3.57 per share. Interest income at the …
Read More »Microsoft in talks to invest $10 bln in ChatGPT owner Semafor
Microsoft Corp (MSFT.O) is in talks to invest $10 billion into OpenAI, the owner of ChatGPT, which will value the San Francisco-based firm at $29 billion, Semafor reported on Monday, citing people familiar with the matter. The funding includes other venture firms and deal documents were sent to prospective investors …
Read More »US Stocks higher amid attempts to rid of Covid shadows
US Stocks rose Tuesday morning as Wall Street attempts to get rid of covid-linked fears as China’s policies tend to further restrictions. Earnings reports also attract significant attention of traders and investors.The Dow Jones surged 282 points, or 0.84%. The S&P 500 progressed 0.56% on the back of the performance …
Read More »Amazon incurs huge losses
A combination of high inflation, monetary tightening, and disappointing earnings led to a historic sell-off in Amazon shares since early 2022, which saw it lose nearly $1 trillion. Amazon shares fell; The e-commerce giant increased 4.3% on Wednesday, pushing its market value to about $879 billion from a record close …
Read More »Disney achieves quarterly revenue below expectations
Disney revealed its quarterly business results for the fourth fiscal quarter, which came in below expectations. Earnings per share: 30 cents versus Refinitiv’s forecast of 55 cents Revenue: $20.15 billion compared to forecast of $21.24 billion Number of Disney Plus subscriptions: up 12.1 million to 164.2 million at the end …
Read More »Roblox Stock Fell 5% Before Earnings For This Reason
Roblox is expected to report earnings on Wednesday, and investors are getting ready for foreseen disappointment.Roblox warned investors last month that bookings were down roughly 7% to 10% per user in September. In the case of Roblox, “bookings” basically means customer purchases of Robux virtual currency, to spend later in …
Read More »Dow closes lower on end of best month since 1976
US Stocks retreated on Monday, but the Dow capped off October 2022 as its month of best performance since 1976 and all the major averages recorded a successive two-month with losses.The Dow Jones Industrial Average fell 128.85 points, or 0.39%, to settle at 32,732.95. The S&P 500 shed 0.75% to …
Read More »Markets’ Weekly Recap, October 24-28
The yen fell on Friday as the Bank of Japan stuck to its accommodative policy. At the same time, the dollar attempted to recover from losses at the weekend on expectations that the Federal Reserve would signal a slowdown in interest rate hikes. The dollar was last up 0.8 percent …
Read More »Amazon to report earnings following disappointing reports
Amazon is expected to report its third quarter earnings after the bell on Thursday. Wall Street’s forecasts refer toi the following:Revenue: $127.63 billion expected versus $110.8 billion in Q3 2021Adjusted Earnings Per Share (EPS): $0.45 expected versus $6.12 in Q3 2021 (after a 20-for-1 stock split)Amazon Web Services (AWS) Net …
Read More »Alphabet shares have worst day since March 2020
Shares of Alphabet dipped as much as 8% on Wednesday, a day after the company released third-quarter earnings that missed on the top and bottom lines. Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending.It has become …
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