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Business

CWEB Business News Luxury EV Maker Lucid Group Enacts Reverse Stock Split Amid Market Volatility

In a significant financial maneuver, Lucid Group, Inc. (NASDAQ: LCID) has executed a 10-for-1 reverse stock split of its common stock. The action, which...
Business

CWEB News: U.S. Job Market Shows Resilience, Adds 54,000 New Positions Amid Economic Shifts

CWEB Business News – The latest ADP National Employment Report, a key measure of private-sector health, indicates that the U.S. economy continued its impressive streak...
Business

Etsy Stock Plunges 13 percent Following Q2 Earnings

Business
Etsy (NASDAQ:ETSY) experienced a nearly 13% decline intra-day today after reporting Q2 earnings that fell short of expectations. The company posted an EPS of 45...

Robinhood Shares Drop 6 percent Despite Q2 Beat

Business
Despite beating expectations with a surprise profit, Robinhood Markets (NASDAQ:HOOD) experienced a decline of more than 6%. The company reported earnings per share of 3...

DoorDash Stock Gains on Q2 Beat & Better Than Expected Outlook

Business
DoorDash (NYSE:DASH) shares rose more than 3% intra-day today following the company's release of a full-year forecast that surpassed expectations. The company reported a loss...

CWEB Summarized Business News Letter August 2nd 2023

Business
Several firms reported dismal profits at the beginning of August, leading to a downward close for the S&P to begin the month. JetBlue was...

Match Group Shares Gain on Q2 Beat

Business
Match Group (NASDAQ:MTCH) experienced a more than 3% intra-day gain today following the release of its Q2 financial results and the outlook for the...

Paycom Software Stock Drops 18 percent Following Q2 Report

Business
Paycom Software (NYSE:PAYC) experienced an 18% decline in its shares intra-day today following the company's report of decelerating subscriber revenue growth. The company reported an...

Yum! Brands Posts Q2 Beat

Business
Yum! Brands (NYSE:YUM), renowned for its ownership of KFC and Taco Bell, reported Q2 earnings of $1.41 per share, outperforming the analyst consensus estimate...

SolarEdge Technologies Stock Plunges 18 percent on Weak Outlook

Business
SolarEdge Technologies (NASDAQ:SEDG) shares dropped more than 18% intra-day today following the release of a weaker-than-expected sales outlook for Q3. In its Q2 report, SolarEdge...

e.l.f. Beauty Stock Jumps 14 percent Following Impressive Q1 Results

Business
e.l.f. Beauty (NYSE:ELF) witnessed a remarkable 14% surge in its shares intra-day today, attributed to the company's impressive Q1 financial results and outlook. The company...

Fitch Ratings downgraded its US debt rating from AAA+ to AA+

Business
The credit rating firm Fitch Ratings has reduced the United States' credit rating from its long-standing AAA status to AA+, which has shocked the...

Building Inspectors Remove X Sign Above San Francisco’s Twitter Building Over Complaints

Business
Building inspectors remove x sign above San Francisco's twitter building. The unpermitted structure was the subject of twenty-four complaints, according to the San Francisco...

CWEB Business News Letter August 1st 2023

Business
The stock market has had a strong start to the month of August, with the S&P 500 Index (SP500) up 20% year-to-date. With markets...

ZoomInfo Technologies Drops 20 percent on Q2 miss

Business
ZoomInfo Technologies (NASDAQ:ZI) experienced a sharp decline of nearly 20% pre-market today due to its weaker-than-expected revenue guidance for Q2. The company reported adjusted...

Pfizer Reports Q2 Beat

Business
Pfizer (NYSE:PFE) reported better-than-expected results for the second quarter. The pharmaceutical giant achieved a profit per share of 67 cents on revenue amounting to...

Arista Networks Stock Surges 21 percent on Q2 Beat

Business
Arista Networks (NYSE:ANET) shares jumped more than 21% intra-day today following the release of better-than-expected Q2 results and guidance. During the second quarter, Arista reported...

Western Digital Reports Weak Outlook Despite Q4 Beat

Business
Western Digital (NASDAQ:WDC) is facing challenges as it guided for a larger loss in Q1/24, despite reporting Q4 results that surpassed Wall Street estimates....

Uber Falls 5 percent Following Q2 Results

Business
Uber (NYSE:UBER) experienced more than a 5% decline in its shares intra-day today following the company’s reported Q2 results. During the second quarter, Uber reported...

CWEB Business News Letter July 31st 2023

Business
Over the next five trading days, about a third of the S&P 500 businesses are expected to reveal profits. This is the second consecutive...

Why is Sundial Growers a perfect Buy with a major upside? The case for buying SNDL is getting stronger.

Business
Sundial Growers Inc. (SNDL) is a publicly traded cannabis firm in Canada. There is full vertical integration at this cannabis firm. This indicates that...

ON Semi Stock Gains 3 percent on Q2 Beat

Business
ON Semi (NASDAQ:ON) shares experienced an intra-day increase of more than 3% following the company's second-quarter earnings report, which surpassed Street expectations. The reported adjusted...

Wayfair Shares Surge 5 percent on Piper Sandler Upgrade

Business
Wayfair (NYSE:W) experienced a more than 5% increase intra-day today following an upgrade from Piper Sandler. The analysts raised the stock's rating to Overweight...

Ford Downgraded at Jefferies

Business
Jefferies downgraded Ford (NYSE:F) from a Buy to a Hold rating and lowered their price target on the stock from $17.00 to $15.00. The...

SoFi Technologies Stock Jumps 20 percent on Q2 Beat

Business
SoFi Technologies (NASDAQ:SOFI) shares jumped more than 20% intra-day today following the digital lender's second-quarter results, which surpassed expectations. The company reported a loss...

Coursera Shares Surge 17 percent on Q2 Revenue Beat & Raised Guidance

Business
Coursera (NYSE:COUR) shares jumped more than 17% on Friday after the company announced better-than-expected revenue figures for the second quarter, leading to an upward...

Celebrity ‘Queen of Groupon’ Tiffany Haddish takes ghost tour for Haunted Mansion, celebrity Jamie Lee Curtis, web fans shower admiration

Business
Celebrity stand-up comedian and actress Tiffany Haddish, when it comes to getting ready for her movie roles, has a unique and unexpected secret weapon...

Trucking Firm Yellow Corporation lays off thousands, faces imminent bankruptcy amidst cash crunch

Business
Yellow Corporation (YELL), the third-largest less-than-truckload company in the US, is allegedly grappling with a severe financial crisis that has led to significant layoffs...

Incandescent bulbs will soon be illegal to sell as of Tuesday

Business
The Department of Energy released new regulations for lighting goods in May 2022. The sale of incandescent and halogen bulbs will be prohibited as...

Can Your Airline Sue You or Take Away Miles for Skiplagging? What Flyers Need to Know

Business
The practice of "skipping" a flight, often referred to as Skiplagging, also known as "hidden city ticketing" or "point beyond ticketing," is a travel...

Mastercard tells US marijuana retailers must stop accepting debit cards

Business
Financial institutions have been ordered by Mastercard to stop enabling marijuana purchases on their debit cards. Customers in the 38 states where marijuana is legal...

CWEB Business News Letter July 28th 2023

Business
Last quarter, consumer spending and business investment drove US GDP growth to an annualized 2.4%, which was better than economists had predicted. According to...

Google announces AI model for robots to understand and perform tasks including how to throw trash

Business
On Friday, Google (GOOGL) announced that it has developed an artificial intelligence model that will help the tech giant train robots to complete tasks...

Roku Stock Surges 9 percent After Reporting Q2 Beat

Business
Roku (NASDAQ:ROKU) witnessed a substantial surge of more than 9% in pre-market today following its Q2 earnings report, which exceeded Street expectations. The company's financials...

First Solar Posts Q2 Beat, Announces $1.1B Factory Investment Plan

Business
First Solar (NASDAQ:FSLR) reported its Q2 results, which surpassed analyst expectations. The company's EPS for the quarter came in at $1.59, significantly exceeding the...

McDonald’s Posts Q2 Beat

Business
McDonald's (NYSE:MCD) reported its Q2 results yesterday, delivering impressive results both in revenue and earnings, driven by robust same-store sales. During the quarter, global comparable...

Enphase Energy Stock Drops 10 percent on Disappointing Revenue Outlook

Business
Enphase Energy (NASDAQ:ENPH) encountered a significant decline of more than 10% intra-day today due to the company's disappointing revenue forecast for Q3. In Q2, Enphase...

Intel Shares Gains 5 percent Following Better Than Expected Q2 Earnings

Business
Intel (NASDAQ:INTC) stock rose more than 5% intra-day today after the company reported its Q2 results, which exceeded expectations. Despite a 15% year-over-year decline,...

Mascot Grimace improves McDonald’s US earnings, revenue, Q2 posts results above analysts’ estimates

Business
McDonald’s (MCD) Mascot Grimace has brought a smile to the company as it helped in boosting earnings and revenue of the food and beverage...

After raising rates to a 22-year high., Powell left room for another rate increase in September 

Business
After raising rates to a 22-year high, Powell left room for another rate increase in September. On July 26, 2023, the Federal Reserve made...

eBay Plummets 5 percent on Weak Guidance

Business
eBay (NASDAQ:EBAY) shares plunged more than 5% pre-market today after the company reported a Q2 EPS beat, but missed the guidance for Q3. Q2...

Western Union Stock Surges 5 percent After Q2 Beat

Business
Western Union (NYSE:WU) witnessed more than a 5% increase in its shares during early Thursday trading following the release of its Q2 results. The...

Align Technology Jumps 17 percent Following Q2 Earnings

Business
Following the release of its Q2 results, Align Technology (NASDAQ:ALGN) experienced a significant stock price surge of more than 17% intro-day today. The company...

Mattel Reports Q2 Beat, Shares Surge

Business
Mattel (NASDAQ:MAT) shares gained more than 3% intra-day today following the release of the company's second-quarter results. For the quarter, Mattel reported adjusted EPS...

Boeing Gains on Q2 Beat, BofA Upgrades to Buy

Business
Bank of America analysts expressed optimism about Boeing (NYSE:BA), stating that the worst is behind the company. As a result, the analysts upgraded the...

Microsoft’s bet on AI multiplies CEO Nadella, ex-CEO Ballmer, founder Bill Gates’, shareholders’ fortunes

Business
Microsoft (MSFT) is one of the most prominent and successful companies in the U.S. and around the world and its recent investment in current...

CWEB Business News Letter July 26th 2023

Business
With recent data indicating a robust US economy, the Federal Reserve has resumed hiking interest rates, and Chair Jerome Powell has left the door...

Texas Instruments Shares Drop 4 percent on Disappointing Guidance

Business
Texas Instruments (NASDAQ:TXN) reported its Q2 results, which led to more than a 4% drop in its share price during pre-market trading today. The Q2...

AT&T Posts Q2 EPS Beat, While Revenues Miss Expectations

Business
AT&T (NYSE:T) reported its Q2 results today. The company posted an EPS of $0.63, which was higher than the Street estimate of $0.60. However,...

Tenable Reports Q2 Beat, Shares Jump 11 percent

Business
Tenable (NASDAQ:TENB) reported better-than-expected Q2 results, leading to more than an 11% increase in its share price in pre-market today. During the second quarter, Tenable...
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