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Business

CWEB Business News Investment firm Needham has reaffirmed its Buy rating on Rivian Automotive Inc.

Investment firm Needham has reaffirmed its Buy rating on Rivian Automotive Inc. (NASDAQ: RIVN), maintaining a $14 price target for the electric vehicle maker....
Business

CWEB Business News NVIDIA Unleashes Jetson AGX Thor, Its Most Powerful Robotics Computer, to Power the Age of Physical AI

NVIDIA (NVDA) has announced the general availability of its groundbreaking Jetson AGX Thor robotics computer, a new system-on-module designed to serve as the brain...
Business

IRS Announces New Tax Brackets for inflation adjustments for tax year 2024

Business
The Internal Revenue Service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate...

Meta connects with Amazon to let web fans shop at Amazon on its apps

Business
Meta and Amazon (AMZN) have connected to making shopping easier for web fans. Meta the parent of Facebook, Instagram and WhatsApp wants its web...

The Trade Desk Plunges 23 percent on Weak Outlook

Business
Shares of The Trade Desk Inc. (NASDAQ:TTD) plunged 23% in pre-market today, which followed the company's announcement of third-quarter earnings that surpassed expectations, but...

Wynn Resorts Plunges 7 percent Despite Q3 Beat & Labor Deal With Hospitality Workers

Business
Wynn Resorts (NASDAQ:WYNN) saw its shares drop by over 7% intra-day today, despite reporting third-quarter results that exceeded expectations, as well as hospitality workers...

Illumina Plummets 14 percent Following Q3 Results & Weak Guidance

Business
Shares of Illumina (NASDAQ:ILMN) experienced a significant decline, dropping over 14% intra-day today, following the announcement of the company's third-quarter results and a reduction...

Hologic Shares Surge 6 percent on Q4 Beat

Business
Hologic (NASDAQ:HOLX) experienced a more than 6% increase in its share price intra-day today, following the announcement of its fourth-quarter results. The company reported...

GoodRx Shares Plunge 18 percent Following Q3 Report

Business
Shares of GoodRx Holdings (NASDAQ:GDRX) closed trading on Thursday with a significant loss of over 18%, following the company's announcement of its third-quarter results. The...

Walmart makes changes for morning shoppers, calmer shopping experiences to help customers, employees

Business
Walmart, the nation's largest retailer, has always put the wellbeing of its customers and employees in the forefront. On Tuesday, the big box retailer...

Samsung leaves Apple behind by launching generative AI model to be used for its devices

Business
Samsung Electronics announced the launch of a new generative artificial intelligence model on Wednesday. It suggested that all its devices would soon carry the...

Chinese fashion retailer Shein eyes a $90 billion valuation in its U.S. initial public offering,

Business
According to Bloomberg News, the major international e-commerce fashion business Shein is reportedly aiming for an extraordinary $90 billion value in its upcoming initial...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 10, 2023

Business
Following a disappointing Treasury auction for investors and Fed Chair Jerome Powell's hawkish-toned speech on inflation, Wall Street equities fell on Thursday as bond...

Mortgage rates dropped to the lowest rate this year

Business
Indicators of a faltering US economy accompany the largest decline in mortgage rates in more than a year. The decrease in rates slightly increased the...

Disney Stock Gains 4 percent After Q4 Earnings Beat

Business
Walt Disney (NYSE:DIS) surpassed analysts' expectations with its fiscal fourth-quarter earnings, bolstered by the performance of its direct-to-consumer segment, including Disney+, which attracted more...

Lyft Beats Q3 Expectations

Business
LYFT (NASDAQ:LYFT) surpassed third-quarter revenue and earnings estimates, announcing an adjusted EBITDA of $92.3 million alongside a revenue increase to $1.16 billion, a 10%...

AppLovin Gains 6 percent Following Q3 Earnings Report

Business
Shares of AppLovin (NASDAQ:APP) surged more than 6% intra-day today following the announcement of robust earnings for the third quarter. The company's revenue for the...

Take-Two Posts Mixed Q2 Results, Shares Drop 3 percent

Business
Take-Two Interactive Software (NASDAQ:TTWO) reported mixed results for its second quarter on Wednesday but maintained its full-year outlook and expressed confidence in its positioning...

Arm Holdings Stock Plunges 6 percent on Muted Outlook

Business
Arm Holdings (NASDAQ:ARM), which entered the public market on September 14, witnessed its stock fall by more than 6% intra-day today after releasing its...

WeWork files for Chapter 11 bankruptcy in U.S., Canada, international offices remain

Business
WeWork (WE) filed for Chapter 11 bankruptcy on Monday. The office-sharing company was valued at $47 billion in 2019. It failed in its initial...

Walmart Early Black Friday Deals Begin, Up To 83 Percent Off, Shop Before Stocks Run Out

Business
Walmart has started its Black Friday deals early and some items are also selling so fast that the big box retailer is running out...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 9, 2023

Business
The widely monitored Dow Jones Industrial increased on Thursday morning as markets processed the Labour Department's initial round of jobless claims. In today's stock...

Bumble Drops 6 percent Following Q3 Results

Business
Shares of Bumble (NASDAQ:BMBL) dropped over 6% pre-market today after the company reported third-quarter earnings. The company's revenue increased by 18.4% year-over-year to $275.5 million,...

Rivian Posts Q3 Revenue Beat, Raised Production Guidance

Business
Rivian Automotive (NASDAQ:RIVN) reported its third-quarter earnings and updated its production forecast for the year. The company posted revenues of $1.34 billion, surpassing the consensus...

Upwork Stock Surges 23 percent on Strong Q3 Beat & Outlook

Business
Shares of Upwork (NASDAQ:UPWK) saw a significant 23% increase intra-day today after the freelancing platform beat third-quarter results expectations. The company reported earnings per share...

Axon Surges 4 percent Following Beat & Raise

Business
Axon (NASDAQ:AXON) shares gained more than 4% intra-day today after the company delivered third-quarter financial figures that surpassed expectations. The company reported robust earnings of...

Robinhood Plunges 14 percent on Q3 Revenue Miss

Business
Robinhood Markets (NASDAQ:HOOD) shares plunged more than 14% intra-day today after the brokerage firm released its third-quarter earnings, which showed revenues missing analyst expectations...

Elon Musk launches AI chatbot that ‘loves sarcasm’, has ‘a bit of wit’

Business
Elon Musk posted on his social media platform that his company xAI has developed a chatbot called “Grok.” Initially, it would be available for...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 8, 2023

Business
Last week saw the largest one-week decline in mortgage rates in more than a year, which led to the first uptick in mortgage demand...

Datadog Stock Jumps 22 percent Following Q3 Beat

Business
Shares of Datadog (NASDAQ:DDOG) experienced a 22% spike pre-market today after the company reported a quarter that exceeded Street expectations. The company, which specializes in...

Goodyear Tire Reports Q3 EPS Beat, Revenues Miss, Shares Up 3 percent

Business
Goodyear Tire (NASDAQ:GT) shares rose more than 3% intra-day today after the company released its third-quarter financial results, revealing earnings per share (EPS) of...

IFF Posts Q3 Beat, Reaffirms Guidance

Business
Shares of IFF (NYSE:IFF) released its third-quarter financial results yesterday. Earnings per share (EPS) came in at $0.89, exceeding the Street expectations of $0.75....

RingCentral Stock Gains 2 percent Following Strong Q3 Results

Business
RingCentral (NYSE:RNG) witnessed its shares rise more than 2% intra-day today after the company released its third-quarter financial results. The earnings per share (EPS)...

TransMedics Jumps 50 percent on Raised Guidance

Business
TransMedics Group (NASDAQ:TMDX) experienced a significant surge in its stock value, with an over 50% increase intra-day today following the company’s third-quarter earnings that...

Here Come the Pink Slips: Citigroup Plans for a 10% Workforce Reduction

Business
One of the biggest financial firms in the world, Citigroup (C), recently revealed that it will be reducing its personnel by 10%. The choice...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 7, 2023

Business
The dollar strengthened and stocks fell. S&P 500 futures dropped roughly 0.3%, signaling that the US equity benchmark will end a six-day winning run....

Dish Networks Stock Plunges 7 percent Following Q3 Miss, CEO Resigns

Business
Dish Networks (NASDAQ:DISH) shares dropped more than 7% pre-market today following the announcement of third-quarter results that fell short of expectations. The company reported a...

H.C. Wainwright Initiates Coverage on Bitcoin Depot With Buy Rating

Business
H.C. Wainwright analysts started covering Bitcoin Depot (NASDAQ:BTM) with a Buy rating and a $6.00 price target. The analysts remarked that Bitcoin Depot, founded...

Booking Stock Gains 4 percent on DA Davidson Upgrade

Business
DA Davidson analysts upgraded Booking Holdings (NASDAQ:BKNG) to Buy from Neutral, maintaining a $3,400 price target. As a consequence, shares rose more than 4%...

Bilibili Started With Buy Rating at Mizuho Securities

Business
Mizuho analysts initiated a Buy rating for Bilibili (NASDAQ:BILI) with an $18 price target, citing the company's potential to more than double its total...

Lincoln Educational Services Jumps 9 percent on Q3 Beat

Business
Lincoln Educational Services (NASDAQ:LINC) shares jumped more than 9% intra-day today after the company reported its Q3 results, with EPS of $0.07 surpassing Street...

Whitney Wolfe Herd, founder and CEO of Bumble, is stepping down. CEO of Slack, Lidiane Jones, will assume the role.

Business
  Whitney Wolfe Herd, the founder and CEO of Bumble (BMBL), has decided to step down from her role as the chief executive officer of...

FDA propose ban on BVO, an additive used in fruit-flavored sports drinks and sodas

Business
On Thursday, the Food and Drug Administration (FDA) proposed a ban on the brominated vegetable oil (BVO) as a food ingredient in beverages. BVO...

Berkshire Hathaway reports 40 percent hike in earnings, $157 billion in cash, loses on investments

Business
  Berkshire Hathaway reported its third quarter earnings on Saturday. The Oracle of Omaha has delivered and investors are pleased with the results. Warren Buffet...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 6, 2023

Business
Following their greatest week of the year, stocks increased on Monday as expectations that the Federal Reserve would soon cease its tightening continued to...

Uber and Lyft reach agreement to pay $328 million for withholding drivers’ money

Business
Uber and Lyft have agreed to pay a combined amount of $328 million to drivers, as they had withheld this money from them. New...

Apple Beats Q4 Expectations, But Shares Fall 2 percent on Soft Holiday Quarter Warning

Business
Apple (NASDAQ:AAPL) announced a Q4 EPS of $1.46, surpassing analyst predictions by $0.07. The company's quarterly revenue reached $89.5 billion, slightly above the $89.31...

Coinbase Reports Q3 Beat, But Trading Volumes Drop

Business
Coinbase (NASDAQ:COIN) reported Q3 earnings that exceeded expectations but experienced a decline in trading volumes for the second consecutive quarter. The company posted a Q3...

Booking Reports Better Than Expected Q3 Results

Business
Booking Holdings (NASDAQ:BKNG) reported Q3 EPS of $72.32, outperforming the Street estimate of $67.78. Revenue increased by 21% from the previous year to $7.3...

Block Stock Jumps 12 percent on Raised Guidance Following Q3 Beat

Business
Shares of Block Inc (NYSE:SQ) soared more than 12% intra-day today after the company increased its full-year adjusted EBITDA forecast. Block reported a significant year-over-year...
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