Business
Jim Cramer says he’d buy Facebook after earnings beat, but it’s too soon for ‘a victory lap’
CNBC’s Jim Cramer said Thursday that Facebook parent Meta is a buy after the social media platform beat Wall Street expectations on earnings in its first quarter. “While it’s too soon to be doing a victory lap here — the stock’s still down huge for the year — I feel like Meta Facebook’s turnaround efforts […]
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Amazon’s cloud business grows almost 37%, but slows from last quarter
Amazon’s cloud unit grew 36.5% year over year in the first quarter, a bit faster than analysts projected. But Amazon shares were down about 9% in after-hours trading, as investors focused on the e-commerce giant’s $3.8 billion overall net loss. The cloud business results point to lighter but still brisk demand for computing, storage and […]
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Bet against ‘superstar’ executives like Mark Zuckerberg and Tim Cook at your own peril, Jim Cramer warns
CNBC’s Jim Cramer on Thursday advised investors to trust big-name executives – especially those at the helm of the major companies that just reported quarterly earnings. “You bet against these superstar CEOs and CFOs at your own peril. … [they] don’t win every game, but over the long haul they win a lot more often […]
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Intel beats but offers disappointing guidance
Intel shares fell 4% in extended trading on Thursday after the chipmaker issued a lower-than-expected forecast for its fiscal second quarter. Here’s how the company did: Earnings: 87 cents per share, adjusted, vs. 81 cents as expected by analysts, according to Refinitiv. Revenue: $18.35 billion, vs. $18.31 billion as expected by analysts, according to Refinitiv. […]
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Apple posts big beat and 9% revenue pop, authorizes $90 billion buyback
Apple CEO Tim Cook greets customers at the new Apple Store on Broadway in downtown Los Angeles, California, U.S., June 24, 2021. Lucy Nicholson | Reuters Apple’s revenue grew nearly 9% on an annual basis in the quarter ending in March, the company said on Thursday, showing strong growth and bucking investor worries about a […]
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Here’s a full recap of CNBC’s 2022 Stock Draft: Ryan Reynolds likes Netflix, Kandi Burruss buys Zoom
Finance professionals, athletes and celebrities choose their favorite names in the annual stock-picking competition. Source
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Amazon takes $7.6 billion loss on Rivian stake after EV company’s stock plunge
R.J. Scaringe, Rivian’s 35-year-old CEO, introduces his company’s R1T all-electric pickup and all-electric R1S SUV at Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Amazon invested in electric vehicle maker Rivian in 2019 as part of a plan to go green. During the first quarter, it saw nothing […]
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California subpoenas Exxon for details on role in global plastic pollution
A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. Sergio Moraes | Reuters California’s attorney general on Thursday announced an investigation into the fossil fuel and petrochemical industries for allegedly overstating the role of recycling in curbing global […]
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Stocks making the biggest moves midday: Meta, McDonald’s, Teladoc, Ford and more
Pavlo Gonchar | LightRocket | Getty Images Check out the companies making headlines in midday trading. Meta Platforms — Shares of the company formerly known as Facebook surged 17.6% after reporting mixed first-quarter results. The company posted a beat in earnings but a disappointing revenue miss. It also saw daily active users grow following a decline […]
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1-800-Flowers shares sink as retailer cuts outlook over waning consumer demand
Chris McCann, CEO, 1-800-Flowers Scott Mlyn | CNBC Valentine’s Day wasn’t enough for 1-800-Flowers last quarter. Shares of the company tumbled 15% Thursday and hit a fresh 52-week low of $9.13, after the online retailer reported fiscal third-quarter results below analysts’ expectations and slashed its outlook for the year amid heightened inflation and waning demand […]
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