House Republicans are asking the chief executives of tech and telecom rivals — including Facebook, Google, AT&T and Comcast* — to appear before the U.S. Congress in September and help settle the debate over net neutrality once and for all. At the moment, the Trump administration is preparing to scrap the U.S. government’s existing rules, […]
Read more
An activist investor has acquired a stake in Barnes & Noble and is calling on the retailer to consider selling itself in order to unlock more value in the brick-and-mortar book business. “Physical books, and physical bookstores, are not going away anytime soon,” Sandell Asset Management said Tuesday in a letter to the retailer’s board. […]
Read moreShares of Seagate tumbled more than 16 percent on Tuesday morning amid a management shake-up and financial results that were far worse than expected. The technology company posted adjusted earnings of 65 cents per share, excluding items, in the fiscal fourth quarter. The earnings badly missed estimates: Analysts polled by Thomson Reuters expected the company […]
Read moreTaco Bell has, quite literally, found a new marketing vehicle, and its name is Lyft. The fast-food chain is beginning a venture with the ride-sharing company this week that will allow Lyft passengers to request rides that incorporate a stop at a Taco Bell drive-through between 9 p.m. and 2 a.m. The companies will test […]
Read moreCaterpillar‘s quarterly earnings report was the “most serious beat and raise” of the earnings season, and the stock will continue to climb, CNBC’s Jim Cramer said Tuesday. Shares of the construction machinery maker jumped Tuesday after it reported better-than-expected second-quarter earnings before the bell. The stock was nearly 5 percent higher at the open, trading […]
Read moreThe Bank of England (BoE) has criticized complacent lenders after growing levels of personal debt have put the U.K. economy at risk of another economic downturn. The central bank’s financial stability director said banks, credit card companies and car loan providers risked slipping into a “spiral of complacency” by assuming risks to the U.K. economy […]
Read moreWhen a stock drops after an earnings report, analysts typically follow the directional move the next day with a negative commentary in their notes to clients. This was not the case with the reports on Alphabet Tuesday morning. Almost every major Wall Street analyst defended their bullish calls on the company even as its shares […]
Read more
Citi shares rose 3 percent in opening trade Tuesday as the financial firm began its first investor day since May 2008, just before the financial crisis. “As you know, it has been a while since we have hosted an Investor Day,” Citi CEO Michael Corbat said in prepared remarks Tuesday. “Some people have asked why […]
Read more
Facebook shares fell in the premarket Tuesday after the earnings report for internet competitor Alphabet disappointed investors, who sent shares of the Google-parent down more than 3 percent. But Citi Research believes these investors are wrong and that actually a figure within the Alphabet’s earnings report points to a better-than-expected result from Facebook when the […]
Read moreAmazon isn’t just going after retailers and grocery stores. It’s capturing a bigger share of the business supplies space as well. Amazon Business, a business marketplace launched in 2015, now has over one million customers, more than tripling in size from last May, Amazon announced Tuesday. It also said there are more than 85,000 sellers […]
Read more