Amazon’s stock price dropped more than 3 percent in after-hours trading on Thursday after the e-commerce giant recorded a smaller second-quarter profit as expense growth outstripped revenue growth. One reason: Amazon is spending heavily on hiring. The company saw a 51 percent increase in general and administrative costs, of which employee salaries typically make up […]
Read moreA firming dollar will set the stage as Asia markets open for trade Friday following solid U.S. economic data, and investors will be looking ahead to more corporate earnings due during the session. The greenback firmed on the back of better-than-expected U.S. durable goods orders for the month of June. A measure of orders for […]
Read moreAfter Verizon and AT&T topped Wall Street’s earnings estimates with their second-quarter results, Jim Cramer wondered if there might be more steam ahead for the telecom giants. “These are huge comebacks for two staid, old competitors that had started to seem like whipping boys for John Legere, the brash CEO of T-Mobile,” the “Mad Money” […]
Read moreAfter Verizon and AT&T topped Wall Street’s earnings estimates with their second-quarter results, Jim Cramer wondered if there might be more steam ahead for the telecom giants. “Are the empires striking back?” the “Mad Money” host asked. Verizon’s earnings beat was driven in part by the addition of 614,000 wireless, post-paid subscribers, up from a […]
Read moreThe days of “couch potato” gamer stereotypes are long over, as the burgeoning eSports industry rakes in hundreds of millions of dollars each year. The trend’s top beneficiaries include Logitech, the Swiss maker of computer accessories like keyboards, headphones and high-end gaming gear, and its CEO, Bracken Darrell, is thrilled to be a part of […]
Read moreDays when the stock market’s top performers fall out of favor with Wall Street and investors turn to stocks they previously hated remind Jim Cramer of what sell-offs are really about. “[It’s] a chance to identify red-hot stocks that may have gotten away from you — but you didn’t want to chase then because you […]
Read moreInvestors shouldn’t worry too much about Amazon‘s big earnings miss, strategists told CNBC’s “Closing Bell.” Shares of Amazon fell nearly 3 percent after it reported 40 cents earnings per share, falling far short of analysts’ expectations of $1.42 earnings per share. Amazon’s $37.96 billion in revenue beat Wall Street’s estimates of $37.18. Amazon is a […]
Read moreStart-up Thalmic Labs, which received venture funding from Amazon and Intel last year, is working on a wearable device that “will change the way people interact with technology,” co-founder and CEO Stephen Lake told CNBC. “At a really high level what we’ve been thinking about is what do our interactions as humans with the digital […]
Read moreJeff Bezos was the richest man in the world for a time on Wednesday, with a fortune of over $90 billion. According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 […]
Read moreSAN FRANCISCO — SpaceX, the rocket maker founded by billionaire Elon Musk, has raised up to $350 million in new financing and is now valued at around $21 billion, making it one of the most valuable privately held companies in the world. SpaceX’s new financing was disclosed in public filings that were obtained by Equidate, […]
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