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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

Fortinet Shares Drop 23 percent on Guidance Cut

Business
Fortinet (NASDAQ:FTNT) reported a third-quarter EPS of $0.41, beating the analyst prediction by $0.05. However, its quarterly revenue of $1.33 billion fell slightly short...

Target CEO speaks of shoppers pull back, conservative approach to inventory, CNBC reports

Business
Target (TGT) CEO Brian Cornell said that shoppers pull back had not only affected sales of discretionary items but also decreased purchases of groceries...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 3, 2023

Business
October saw a slowdown in the growth of jobs in the U.S. economy, which confirmed long-standing predictions of a downturn and may have eased...

Palantir Shares Jump 17 percent on Q3 Beat & Raised Guidance

Business
Palantir (NYSE:PLTR) outperformed expectations with a third-quarter earnings per share of $0.07, edging past the Street estimate of $0.06. The company's quarterly revenue also...

Eli Lilly Gains 4 percent on Better Than Expected Q3 Results

Business
Eli Lilly (NYSE:LLY) posted a surprisingly positive third-quarter performance, reporting adjusted earnings per share of 10 cents, beating the expectations of a 20-cent loss...

Roku Jumps 30 percent as it Anticipates to be Profitable in Q4

Business
Roku (NASDAQ:ROKU) delivered mixed third-quarter results, with a reported loss per share of $2.33, which was better than the anticipated loss of $1.96 per...

Zillow Beats Q3 Results, But Shares Drop 4 percent

Business
Zillow Group (NASDAQ:Z) exceeded revenue expectations in its third-quarter earnings report, released after Wednesday's market close. However, shares dropped more than 4% intra-day today. The...

PayPal Shares Gain 6 percent on Q3 Beat & Guidance Raise

Business
PayPal Holdings (NASDAQ:PYPL) experienced a 6% increase intra-day today after the company released its third-quarter earnings and provided forward-looking guidance. The company reported an earnings...

Jury Finds National Association of Realtors and some residential brokerages liable for $1.8 billion for inflating commissions

Business
The National Association of Realtors (NAR), a well-known trade association for the real estate sector, and multiple residential brokerages have been found liable for...

WeWork to file for bankruptcy as early as next week, reports say

Business
WeWork (WE), an office-sharing firm, is expected to file for bankruptcy as early as next week, according to reports from multiple outlets. The troubled...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 2, 2023

Business
On Wednesday, the Federal Reserve left its benchmark interest rate in the range of 5.25%-5.50% unchanged, the highest in 22 years, as officials continue...

Pfizer reports losses in third quarter, as demand for Covid vaccines, treatment falls, stock fall

Business
  Pfizer (PFE) reported its third quarter results on Tuesday and stocks fell by about 2 percent, in early trading. The giant pharmaceutical company has...

Shares of WeWork Dive 37 percent Following Bankruptcy Speculation

Business
WeWork (NYSE:WE), once valued at $47 billion, is on the brink of filing for bankruptcy as early as next week, according to sources cited...

Boeing Receives an Upgrade From Goldman Sachs

Business
Boeing (NYSE:BA) shares saw an uptick of over 1% intra-day today after Goldman Sachs analysts included the stock in their 'US Conviction List’. The...

Wayfair Gains 4 percent Following Q3 Earnings

Business
Wayfair (NYSE:W) saw its shares gain more than 4% intra-day today following its third-quarter results, which presented a mixed picture. For the quarter, Wayfair posted...

Canada Goose Shares Drop 9 percent on Guidance Cut

Business
Canada Goose (NYSE:GOOS) unveiled its second-quarter results, with projections for the full year falling short of analyst forecasts. As a result, shares plunged more...

Humana Beats Q3 Estimates, Provides Guidance

Business
Humana (NYSE:HUM) posted impressive third-quarter results, outperforming Wall Street analysts’ predictions. The company announced an adjusted EPS of $7.78, beating the projected $7.16. Additionally,...

CWEB News Summarized Breaking, Business and Financial Newsletter for November 1, 2023

Business
As investors considered new consumer confidence statistics and anticipated the Federal Reserve's imminent policy announcement on Wednesday, US stocks, which are poised for their...

Maui Mayor Says Maui Will Reopen to Tourists on November 1st, But Residents Are Concerned

Business
It was in August 2022 when the devastating wildfires wreaked havoc across the picturesque landscapes of Maui, leaving a trail of destruction and claiming...

“Pharmageddon” strikes cause walkouts at several pharmacies, such as CVS and Walgreens.

Business
"Pharmageddon" strikes the United States, causing walkouts at several pharmacies, such as CVS and Walgreens (WBA). Organizers have projected that roughly 4,500 pharmacists and pharmacy...

Arista Networks Stock Surges 10 percent on Q3 Beat & Strong Guidance

Business
Arista Networks (NYSE:ANET) shares experienced a nearly 10% jump in pre-market trading on Tuesday after the company announced its third-quarter results and future outlook,...

ZoomInfo Technologies Shares Drop 12 percent Despite Q3 Beat

Business
ZoomInfo Technologies (NASDAQ:ZI) released its Q3 results, posting an EPS of $0.26, slightly above the market prediction of $0.25. The company's revenue for the...

JetBlue Airways Stock Plunges 14 percent on Outlook Cut

Business
Shares of JetBlue Airways (NASDAQ:JBLU) dipped over 14% intra-day today following the airline's revised full-year revenue projections. In the third quarter, JetBlue recorded a per-share...

V.F. Corp Stock Drops 12 percent on Following Q2 EPS Miss, Guidance Withdrawal & Dividend Reduction

Business
V.F. Corp. (NYSE:VFC) shares plummeted over 12% intra-day due to its Q2 EPS falling short, withdrawn guidance, and a reduced dividend. The reported Q2...

Chegg Shares Drop 13 percent on Weak Guidance

Business
After releasing its Q3 results, Chegg (NYSE:CHGG) shares experienced a more than 13% decline intra-day today. Although the company reported an EPS of $0.18...

Best Buy recalls close to one million Insignia pressure cookers for burn hazards

Business
Best Buys (BBY) has recalled about 930,000 Insignia pressure cookers in the U.S. On October 26, 2023, the United States Consumer Product Safety Commission...

Meta to charge web fans of Facebook and Instagram in Europe, for ad free option

Business
Meta announced new paid subscriptions for advertisement free options on its popular social media platforms in Europe. The Monday announcement said it will roll...

CWEB News Summarized Breaking, Business and Stock Newsletter October 31, 2023

Business
Even though Tuesday's housing data was stronger than expected, investors were nervous about the commencement of the Federal Reserve's two-day meeting and sent the...

Altria reports declining sales, Marlboro brand faces competition from e-vapor products

Business
Altria Group reported third quarter results on Thursday that fell short of analysts’ expectations. Philip Morris USA (PM), the maker of the popular brand...

Western Digital Stock Jumps 13 percent Following Q1 Earnings

Business
Western Digital (NASDAQ:WDC) shares rose nearly 13% in pre-market today after beating quarterly earnings expectations. They reported a Q1 loss of $1.76 per share,...

East West Bancorp Upgraded to Buy at UBS

Business
UBS analysts raised their rating on East West Bancorp (NASDAQ:EWBC) to Buy from Neutral and increased their price target to $61.00 from $57.00. The analysts...

Newell Brands Slashed at Two Wall Street Firms

Business
Newell Brands (NYSE:NWL) was downgraded by two Wall Street analysts today. The analysts' actions were in response to the company's decision to cut its...

SoFi Technologies Reports Q3 Beat & Raises Outlook

Business
SoFi Technologies (NASDAQ:SOFI) released its quarterly earnings that surpassed the predictions of Wall Street analysts. Additionally, the company raised its yearly guidance. In the third...

McDonald’s Stock Gains 2 percent Following Q3 Beat

Business
McDonald's (NYSE:MCD) shares gained nearly 2% intra-day today after the company posted its third-quarter results that exceeded market predictions. For the third quarter, the company...

Opting Out of Targeted Ads on Instagram and Facebook: A New Option for European Users

Business
Instagram and Facebook (META) users in Europe can opt out of targeted ads for a monthly subscription fee. European users and those from Liechtenstein,...

Viral video of filled shopping carts lined outside Target causes outrage, web fans and experts respond

Business
A viral video of several food carts outside Target (TGT) was posted by a user, and it quickly went viral causing outrage among many....

CWEB News Summarized Breaking, Business and Stock Newsletter October 30, 2023

Business
As investors prepared for a busy week that would include a Federal Reserve rate decision, a jobs report, and Apple's earnings report, U.S. equities...

Chipotle may increase prices to pay California’s minimum restaurant wages

Business
  Chipotle (CMG) is considering a price hike at its restaurants in California after a new law has been passed in the Golden State. The...

California has the seventh fastest-falling quit rate in America, a new study finds – See the other states

Business
California has the seventh fastest-falling employment quit rate in America, according to a new study. Quit rates have fallen by 22.73% in California between July...

US consumer expenditure is growing steadily, while core inflation is rising each month- Another interest hike likely

Business
The core PCE price index, officially referred to as the PCE Price Index Excluding Food and Energy, is a key component of the monthly...

Amazon Shares Gain 6 percent After Q3 Beat

Business
Amazon’s (NASDAQ:AMZN) third-quarter results exceeded Wall Street predictions, driven by its cloud segment's consistent performance and a surge in advertising revenue. Following the report,...

Juniper Networks Shares Surge 7 percent After Q3 Earnings Beat

Business
Shares of Juniper Networks (NASDAQ:JNPR) climbed over 7% intra-day today following its Q3 results that outperformed expectations. The company posted an adjusted EPS of 60...

Chevron Drops 5 percent on Q3 Profit Miss

Business
Shares of Chevron (NYSE:CVX) dropped more than 5% intra-day today due to its Q3 profit not meeting analyst expectations. The company reported a Q3 EPS...

IBM Shares Gain 5 percent Following Q3 Results

Business
Shares of International Business Machines (NYSE:IBM) increased by nearly 5% yesterday after the company beat Q3 profit expectations and maintained its guidance. IBM posted an...

UPS Stock Drops 6 percent Following Full Year Guidance Cut

Business
UPS (NYSE:UPS) shares dropped nearly 6% on Thursday after the company revised its annual forecast downward due to challenging macro-economic conditions. In Q3, UPS...

Alphabet updates Google Maps using AI, new features will please web fans

Business
Alphabet’s Google Maps (GOOGL) has been updated again. On Thursday, Google Maps announced that it has been expanding its existing features as well as...

Jeff Bezos approaches his selection as The Washington Post’s future CEO while reaffirming his dedication to the publication

Business
For many years, The Washington Post has been a pillar of truth and journalistic integrity in the rapidly changing media and journalism landscape. Along with...

CWEB News Summarized Breaking, Business and Stock Newsletter October 27, 2023

Business
To make up for its heavy losses this week, the Nasdaq Composite index posted a gain on Friday. Stocks in tech companies benefited from...
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