Business
Google pushes Apple to adopt a new kind of text messaging, criticizes ‘green bubbles’
Android mascots are lined up in the demonstration area at the Google I/O Developers Conference in the Moscone Center in San Francisco. Beck Diefenbach | Reuters Google, the developer of the Android, is increasing the pressure on Apple to adopt RCS, a next-generation standard for text messaging. It argues that Apple’s support of RCS would […]
Read More
Stocks making the biggest moves premarket: Wendy’s, Coinbase, Buzzfeed and more
Check out the companies making headlines before the bell: Wendy’s (WEN) – Wendy’s shares fell 1% in premarket trading following a mixed quarter, which saw the restaurant chain report better-than-expected earnings while revenue fell short of Street forecasts. U.S. same-restaurant sales rose 2.3%, less than analysts had estimated, as consumers spent more cautiously. Coinbase (COIN) […]
Read More
Roku downgraded to underperform at MoffettNathanson despite this month’s comeback rally
Sell shares of Roku as the media player manufacturer faces pressure from increasing competition and a worsening macro backdrop, according to MoffettNathanson. The firm downgraded Roku to underperform from market perform, and kept its price target, after the streaming company reported disappointing second-quarter earnings results last month. Roku missed expectations on both the top and […]
Read More
Morgan Stanley downgrades Allbirds, says stock is stuck until ‘path to profitability is more clear’
Shares of Allbirds could see limited upside until the path to profitability becomes more clear, according to Morgan Stanley. Analyst Alex Straton downgraded Allbirds to equal-weight from overweight, and slashed its price target, following a quarterly earnings report that pointed to greater economic uncertainty for retailers. Allbirds lowered its guidance for the year after citing […]
Read More
Apple supplier Foxconn cautious on outlook as smartphone sales slow
Apple Inc supplier Foxconn reported that it beat its April-June net profit expectations. Photo by Lam Yik Fei/Bloomberg via Getty Images Apple Inc supplier Foxconn gave a cautious outlook for the current quarter after posting results that exceeded expectations, citing slowing smartphone demand after a pandemic-fuelled boom. The comments from the Taiwanese company, the world’s […]
Read More
Cramer’s lightning round: Dropbox is a pass
Dropbox Inc: “Nothing ever happens to the stock, and I think that that’s because nothing’s going to happen to the stock. … I’m going to have to say, pass.” 23andMe Holding Co: “The stock has no mojo. That’s a technical term for ‘not going anywhere.’” Source
Read More
Restaurateur Danny Meyer says inflation has helped drive workers back into the food industry
High inflation and the money-making opportunities it’s created have driven workers back to the restaurant industry, Danny Meyer told CNBC’s Jim Cramer on Tuesday. “There’s no question that menu prices are higher than they’ve ever been. But guess what that translates to – if you do have a tipping model in your restaurants, servers are […]
Read More
Don’t bet against short sellers in this market, Jim Cramer warns
CNBC’s Jim Cramer on Tuesday warned investors to avoid buying money-losing stocks in a bet against short sellers. The market went in favor of short-sellers on Tuesday after the major indices fell. The market teetered earlier in the day as it digested disappointing financial reports from companies and prepared for key inflation numbers later this […]
Read More
Stocks making the biggest moves after hours: Coinbase, Sweetgreen, Roblox and more
In this photo illustration, the Coinbase logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Check out the companies making headlines in after hours trading. Coinbase – Coinbase fell more than 3.5% in afterhours trading after reporting quarterly earnings. The company missed analyst expectations on both revenue […]
Read More
Coinbase shares drop on billion-dollar loss in second quarter and revenue miss
Brian Armstrong, CEO and Co-Founder, Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022. in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Coinbase shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts’ […]
Read More