Month: August 2024
Cisco shares head for best day since 2020 on earnings beat, plans to cut 7% of workforce
Cisco CEO Chuck Robbins participates in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2023. Hollie Adams | Bloomberg | Getty Images Cisco shares jumped about 8% on Thursday and headed for their best day since March 2020, after the computer networking company said it’s cutting 7% of […]
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Health stocks jump as WHO declares mpox global health emergency
Colorized transmission electron micrograph of monkeypox virus particles (red) found within an infected cell (blue), cultured in the laboratory. Bsip | Universal Images Group | Getty Images LONDON — Shares of Danish vaccine maker Bavarian Nordic jumped as much as 17% Thursday amid a wider rally for associated healthcare stocks after the World Health Organization […]
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JD Vance accepts VP debate with Tim Walz on Oct. 1, challenges him to another
Democratic vice presidential candidate Minnesota Gov. Tim Walz, left, and Republican vice presidential candidate Sen. JD Vance of Ohio. Getty Images Republican presidential running mate JD Vance said Thursday he will debate Democratic vice presidential nominee Tim Walz on Oct. 1, while also challenging his opponent to a second debate on Sept. 18. “The American […]
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Lockheed Martin to take struggling spacecraft manufacturer Terran Orbital private in $450 million deal
Terran Orbital’s banner above the New York Stock Exchange on March 28, 2022. Terran Orbital Lockheed Martin is buying Terran Orbital, the company announced Thursday, with the defense giant reaching a deal to take the struggling spacecraft manufacturer private. The agreement will see Lockheed acquire Terran at an enterprise valuation of nearly $450 million, below […]
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Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for a 0.3% increase. June […]
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Klarna takes on banks with a personal account and cashback rewards ahead of IPO
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Financial technology firm Klarna is pushing deeper into banking with its own checking account-like product and a cashback offering that rewards users for shopping via its app. The […]
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‘I see a lot of denial’: C-suite advisor says business bosses still expect a Trump win
Republican presidential nominee, former U.S. President Donald Trump gives a speech during a campaign rally at Harrah’s Cherokee Center in Asheville, North Carolina, United States on August 14, 2024. Anadolu | Anadolu | Getty Images U.S. business leaders are “in denial” about Vice President Kamala Harris’ growing lead over Republican presidential nominee Donald Trump, according to C-suite […]
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Stocks making the biggest moves premarket: Ulta Beauty, Walmart, Cisco Systems and more
Check out the companies making headlines before the bell. Ulta Beauty — Shares of the beauty retailer popped a whopping 13% in premarket trading after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway took a stake worth $266 million in the second quarter. The bet is relatively minor for Berkshire, whose equity portfolio is […]
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Amazon to test Prime Air drone delivery service in the UK
An Amazon delivery drone is on display at Amazon’s BOS27 Robotics Innovation Hub in Westborough, Massachusetts, on Nov. 10, 2022. Joseph Prezioso | AFP | Getty Images Amazon and six other organizations have been selected to take part in a trial looking at expanding the use of drones in the U.K. The country’s Civil Aviation […]
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Alibaba shares dip 4% in premarket after earnings miss expectations despite cloud acceleration
Signage at the Alibaba Group Holding Ltd. headquarters in Hangzhou, China, on Friday, Aug. 2, 2024. Qilai Shen | Bloomberg | Getty Images Alibaba missed top and bottom line expectations for the June quarter of 2024 as it continues to face headwinds in its core e-commerce business amid rising competition and a cautious Chinese consumer. […]
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