Earnings are humming along, with gains of more than 10 percent now expected for the S&P 500 in the second quarter. There’s one potential fly in the ointment: Big Oil. ExxonMobil, Chevron and other Big Oil names will begin reporting on Friday. Something unusual is happening: because oil never rallied in the second quarter as […]
Read moreAmazon on Thursday reported its Amazon Web Services public cloud generated $916 million in operating income on $4.10 billion in revenue in the second quarter of this year. Revenue for the AWS business increased by 42 percent year over year, higher than analysts’ expectations according to FactSet. Analysts had expected $1.01 billion in operating income […]
Read moreOn Thursday, FDA commissioner Scott Gottlieb announced a pilot program to look into a “pre-certification” for medical software start-ups. And even the FDA’s harshest critics are excited about it. “I guess I’ve grown cynical in my old age, as I’ve watched administrations come and go,” said Bradley Merrill Thompson, an FDA expert and lawyer with […]
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We have seen a classic midday dip in the markets Thursday because certain sectors are absurdly overbought, and the volumes have been thin. When bids are very light because there is not a lot of interest in bidding up the market at these prices, very small drops can cascade into larger drops. It always starts […]
Read moreFord is expanding its recently acquired crowdsourced shuttle service called Chariot into New York City. This is the fourth city the company is now operating in, with the goal of offering cheap shared rides in areas that do not have public transit within walking distance. The company also hopes to lure riders away from buses […]
Read moreIntel on Thursday will report earnings for the second quarter after markets close. The company will hold a telephone conference with financial analysts at 5 p.m. Eastern time. EPS: Excluding certain items, analysts are expecting 68 cents in earnings per share, according to Thomson Reuters. Revenue: Analysts expect $14.41 billion in revenue for the quarter, […]
Read morePoor Jeff Bezos. That may sound like a strange way to describe the Amazon founder and CEO Jeff Bezos on the day when he eclipsed Bill Gates and became the world’s richest man. But that title comes with a greater chance of holy hell raining down on him, his company, and the entire U.S. tech […]
Read moreAmazon is set to report its second quarter earnings Thursday after the bell. The results come as Amazon CEO Jeff Bezos just surpassed Microsoft cofounder Bill Gates to become the richest person in the world. Amazon’s stock has been on an absolute tear over the past two years, nearly doubling in price in that period. […]
Read moreStrong second-quarter earnings, along with falling rates and a weak dollar, will continue to drive stocks higher, according to Jefferies, which raised its year-end price forecast for the S&P 500 on Thursday. “The bottom line is that equity bull markets don’t die of old age,” wrote Jefferies Chief Global Equity Strategist Sean Darby in Thursday’s […]
Read moreGoogle is quietly buying properties worth $820 million in Silicon Valley as it looks to keep growing
As rival tech giant Apple readies its huge new headquarters in Silicon Valley, Alphabet‘s Google is buying up real estate parcels like a land speculator. Google, based in Mountain View, California, has purchased 52 properties in Sunnyvale, California, about four miles to the south, for $820 million from a real estate development partner, CBRE, according […]
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