Month: May 2022
Roblox CEO says April bookings are starting to turn around after a difficult March
Roblox CEO David Baszucki told CNBC on Wednesday that the company is seeing its bookings recover in April after the company said earlier this week that they declined 3% in the March quarter. Bookings are how the company describes sales of its virtual currency, Robux, which players use to buy digital items such as avatars […]
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WHO says omicron BA.4 and BA.5 subvariants have spread to over a dozen countries
coronavirus impact business and economy Mf3d | E+ | Getty Images Omicron subvariants BA.4 and BA.5 have been detected in more than a dozen countries, helping fuel sporadic Covid outbreaks across the world, but the heavily mutated strains are still circulating at low levels, the World Health Organization said Wednesday. Less than 700 cases of […]
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Stock futures are little changed following hot inflation report
Stock futures were slightly higher Wednesday evening after the latest CPI data showed inflation is still running hot. Futures tied to the Dow Jones Industrial Average added 17 points, or 0.05. S&P 500 futures inched higher by 0.03%. Nasdaq 100 futures were down by 0.01%. Disney shares fell about 2% after hours despite strong earnings […]
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Disney may need to tell investors a new story as company warns of softer streaming growth
A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021. Bloomberg | Bloomberg | Getty Images Disney may have a storytelling problem. Although the company added a better-than-expected 7.9 million Disney+ subscribers in the quarter, Disney shares slid after hours […]
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Lina Khan’s FTC can finally move forward with its progressive agenda after Senate confirms fifth commissioner
Federal Trade Commission building Jeff Greenberg | Universal Images Group | Getty Images The Federal Trade Commission finally has the power to move forward with its progressive enforcement and policy agenda after the Senate confirmed President Joe Biden’s nominee to the fifth commissioner seat Wednesday. The Senate voted to confirm Alvaro Bedoya 51-50, with Vice […]
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Lordstown Motors closes $230 million deal to sell its Ohio factory to Foxconn, injecting needed cash days before deadline
Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio. Michael Wayland / CNBC Embattled electric vehicle start-up Lordstown Motors said Wednesday it has closed a $230 million deal to sell its Ohio factory to Taiwanese contract manufacturer Hon […]
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Beyond Meat shares tumble after jerky launch leads to wider-than-expected loss
Beyond Meat “Beyond Burger” patties made from plant-based substitutes for meat products sit on a shelf for sale in New York City. Angela Weiss | AFP | Getty Images Beyond Meat on Wednesday reported a wider-than-expected loss for its first quarter as the launch of its new plant-based jerky weighed heavily on margins. Shares of […]
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Stocks making the biggest moves after hours: Disney, Bumble, Rivian and more
Check out the companies making headlines in extended trading. Walt Disney — Disney shares rose about 1% in extended trading after the company reported stronger-than-expected growth in streaming subscribers across its media platforms for the most recent quarter. Bumble — The dating app operator’s shares jumped more than 9% after the company reported $211.2 million […]
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Wells Fargo double downgrades Ford and GM, says 2022 could be ‘peak profits’ for legacy automakers
Wells Fargo moved its rating to underweight for the two automakers, citing rising costs for electric vehicles. Source
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Rivian stock jumps as EV automaker maintains its 2022 production goals
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle maker Rivian Automotive on Wednesday maintained its 2022 production target, saying it still expects to build just 25,000 vehicles this year, as it reported a first-quarter loss that was slightly narrower […]
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