Reported 27 days ago
Roku Inc. announced it will stop reporting quarterly household user numbers starting next year, leading to a significant drop in its stock price by as much as 13% in extended trading. This decision aligns with Netflix's previous move to withhold similar data. Roku will shift its focus to reporting streaming hours, platform revenue, adjusted earnings, and free cash flow instead.
Source: YAHOO
Reported 27 days ago
Reddit's stock skyrocketed over 40% to a record $117 after the company posted its first profit since going public, with Q3 sales reaching $348 million, surpassing analyst expectations. Despite slightly missing EPS estimates, Reddit reported a $30 million profit, while daily active users surged nearly 50% to over 97 million. The strong earnings also boosted fellow social media stocks, including Snap, which saw a 16% increase in its stock price.
Source: YAHOO
Reported 27 days ago
Siemens AG has announced its acquisition of Altair Engineering Inc. for $10 billion, marking its largest acquisition to date as it shifts towards higher-margin, software-driven products. The deal, which involves a premium of 19% over Altair's recent share price, is expected to close in the second half of next year. Siemens aims to enhance its capabilities in engineering simulation, complementing its existing software offerings, while Altair reported a 13% revenue increase in its latest quarter.
Source: YAHOO
Reported 27 days ago
MetLife Inc. announced a decrease in third-quarter adjusted profits, primarily attributed to underperformance in its group benefits business, resulting in a 5.5% drop in shares. Adjusted earnings from this sector, which includes various insurance options, fell by 27% compared to the previous year. The downturn was linked to annual actuarial reviews and softer non-medical health underwriting. Despite this, the company's adjusted net investment income increased by 8% due to higher interest rates, with adjusted earnings available to common shareholders also declining.
Source: YAHOO
Reported 27 days ago
Roku's stock plummeted over 17% after the company announced disappointing Q4 guidance, despite reporting a $1 billion revenue in the last quarter. The company projected lower-than-expected gross profit and adjusted EBITDA, and revealed it will stop reporting streaming households, focusing instead on streaming hours, platform revenue, and free cash flow starting in 2025. Roku faces increasing competition in the streaming ad market, with analysts noting the evolving landscape poses risks to its growth.
Source: YAHOO
Reported 27 days ago
US health officials have reported an increase in E. coli cases associated with McDonald's, prompting an inspection of an onion grower in Washington.
Source: YAHOO
Reported 27 days ago
In a recent trading session, US stocks saw a decline across all major indexes, influenced by fresh economic data and earnings reports from big tech companies. Yahoo Finance experts discussed the implications of these developments on market trends and investor sentiment.
Source: YAHOO
Reported 27 days ago
Microsoft's latest earnings report exceeded expectations, showcasing strong performance in its Azure cloud business, which has benefited from advancements in AI technology. Analyst Rishi Jaluria emphasized that Microsoft is well-positioned among competitors, particularly due to its effective transparency and partnership with OpenAI, enhancing its market dominance in the AI space.
Source: YAHOO
Reported 27 days ago
Coinbase Global reported a profit in the third quarter with a revenue of $1.2 billion, although it fell short of revenue estimates and missed adjusted earnings per share. The trading volumes saw a decline, highlighting ongoing adjustments within the cryptocurrency exchange as it adapts to spending cuts made earlier in 2023, coinciding with a market rally as the 2024 presidential elections approach.
Source: YAHOO
Reported 27 days ago
In after-hours trading on Wednesday, eBay's shares fell despite outperforming revenue and earnings expectations for Q3, as disappointing guidance for Q4 revenue led to investor sell-off. Meanwhile, Carvana's stock surged after reporting a significant 32% year-over-year revenue increase, surpassing analyst estimates. Twilio shares also rose following a strong Q3 performance and an optimistic full-year revenue forecast.
Source: YAHOO
Reported 27 days ago
Amazon and Apple are set to report their earnings on October 31, as part of a lineup that includes firms like Mastercard, Uber, Shell, and Intel. Additionally, the Personal Consumption Expenditure (PCE) index, a key inflation measure for the Federal Reserve, will be released, alongside the weekly mortgage rates which have been climbing for the last four weeks.
Source: YAHOO
Reported 27 days ago
Etsy's stock rose in after-hours trading following the release of its mixed Q3 results, where revenue surpassed expectations but profits fell short. The e-commerce platform also announced a significant $1 billion share buyback program.
Source: YAHOO
Reported 27 days ago
In an interview, Trane Technologies CEO David Regnery reported a robust third quarter, with revenues of $5.44 billion and adjusted earnings per share of $3.37, both exceeding forecasts. Despite positive growth metrics, Regnery acknowledged difficulties in the Chinese market, which currently constitutes 4% of the company's revenue. He remains optimistic about future growth, particularly in the HVAC sector, emphasizing the potential to improve energy efficiency in buildings.
Source: YAHOO
Reported 27 days ago
Despite posting impressive third-quarter earnings that surpassed Wall Street expectations, Meta Platforms' stock fell after the announcement. Analyst Aaron Kessler attributes this decline to high market expectations prior to the earnings report and the stock's prior strong performance. He highlights the company's ongoing AI initiatives but suggests that their generative AI projects are still in early development stages.
Source: YAHOO
Reported 27 days ago
Roku's stock dropped in after-hours trading despite reporting a smaller-than-expected loss of $0.06 per share, compared to the anticipated $0.33. The company recorded net revenues of $1.06 billion, surpassing the $1.02 billion consensus. For the upcoming fourth quarter, Roku projects revenues of $1.14 billion and gross profit of $465 million, both slightly above expectations, but its adjusted EBITDA outlook of $30 million fell short of the predicted $36.2 million.
Source: YAHOO
Reported 27 days ago
The earnings results from Alphabet (GOOG) boost confidence in the 'Magnificent Seven,' a group of major tech companies, showcasing their significant market influence with swings in market cap reaching billions. With impending earnings reports from Microsoft, Meta, Amazon, and Apple, investors are keenly observing capital spending as these giants venture into artificial intelligence, despite no clear timeline for profitability. Strategic insights reveal that while tech leaders must innovate to stay competitive, the market’s focus is shifting toward capital expenditures and their long-term scalability.
Source: YAHOO
Reported 27 days ago
U.S. stocks closed lower on Wednesday, with the Dow Jones falling 0.2%, the S&P 500 down over 0.3%, and the Nasdaq dropping nearly 0.6% ahead of earnings reports from Meta and Microsoft. While Alphabet's strong earnings boosted optimism for big tech, they did not lift the market indexes. Key economic indicators, including a slower-than-expected GDP growth of 2.8% and private payroll gains that surpassed predictions, added complexity as the Federal Reserve prepares for its upcoming interest rate decision.
Source: YAHOO
Reported 27 days ago
DoorDash reported better-than-expected third-quarter earnings with earnings per share at $0.38, exceeding the $0.21 forecast. The company's revenue hit $2.71 billion, surpassing estimates of $2.66 billion, while the Marketplace gross order value reached $20 billion, compared to the expected $19.74 billion. For the fourth quarter, DoorDash anticipates Marketplace gross order value between $20.6 billion and $21 billion, above the $20.53 billion estimate.
Source: YAHOO
Reported 27 days ago
Elon Musk acknowledges that proposed cuts, including a $2 trillion reduction in federal spending and mass deportations, could lead to significant economic hardship if Trump is re-elected. Economists warn of a chaotic impact on essential programs like Medicare and Social Security, as well as labor shortages affecting multiple industries. While some believe Trump may adjust his policies in response to economic backlash, the uncertainty remains high. Voters need to be aware of the potential risks to their financial futures.
Source: YAHOO
Reported 27 days ago
In its third quarter earnings report, Robinhood Markets reported a revenue of $637 million, falling short of expectations of $663.5 million, while adjusted earnings were $0.17 per share, just a cent below the forecast. Analyst Devin Ryan commented that despite the revenue miss, customer assets have surged by about 50% since the start of the year, indicating a positive long-term outlook for the company. Despite a drop in shares over 10% after hours trading, the introduction of a new election betting market feature shows Robinhood's commitment to expanding its services for retail traders.
Source: YAHOO
Reported 27 days ago
Microsoft reported a strong first fiscal quarter with earnings per share of $3.30 and revenue of $65.6 billion, surpassing analyst expectations. The cloud business was a key driver, with commercial cloud revenue reaching $38.9 billion. However, despite the positive results, Microsoft stock dropped 5% in early trading due to increasing competition in the AI space from companies like Amazon and Google. CEO Satya Nadella emphasized the ongoing transformation driven by AI across various business processes.
Source: YAHOO
Reported 27 days ago
Meta, the parent company of Facebook, reported third-quarter earnings that surpassed analysts' forecasts, achieving $6.03 per share on $40.5 billion in revenue. Despite beating estimates, the company's stock fell due to concerns over anticipated capital expenses, projected to reach $38-40 billion for the year, with significant growth expected in 2025. Meta continues to invest heavily in AI advancements, augmented reality projects, and faces multiple legal challenges.
Source: YAHOO
Reported 27 days ago
As the 2024 US presidential election approaches, experts discuss the close race between Vice President Kamala Harris and former President Donald Trump, highlighting that market indicators, such as GDP growth and sector performance, often reflect candidate favorability. Despite Harris being part of the incumbent party, trends suggest that the market may be leaning towards a Trump victory, with historical data indicating that positive market performance in the run-up to elections generally favors the incumbent.
Source: YAHOO
Reported 27 days ago
Reddit's CEO Steve Huffman announced that the platform is entering a mainstream era following a 40% surge in shares after its first profitable quarter. With a 47% year-over-year increase in daily active users and a 68% rise in total revenue, Reddit has shown strong growth, bolstered by advertising and a successful IPO. Analysts express optimism about the potential for advertising revenue growth and data licensing opportunities as Reddit continues to gain traction in the social media landscape.
Source: YAHOO
Reported 27 days ago
Meta Platforms reported stronger-than-expected third-quarter earnings of $6.03 per share, surpassing analysts' estimates of $5.25, with total revenue at $40.59 billion, exceeding expectations. However, Reality Labs fell short with revenue of $270 million against an expected $312.8 million, leading to an operating loss of $4.43 billion. Looking ahead, Meta anticipates fourth-quarter revenue between $45-48 billion, slightly below analyst expectations.
Source: YAHOO