Category Archives for News

As business travel falls, Airbnb sees opportunity in remote work travel

While business travel has been one casualty of the coronavirus pandemic, Airbnb plans to capitalize on the newfound work-life balance that emerged during the shift to remote work. Airbnb CEO Brian Chesky told CNBC’s Jim Cramer Thursday that the home rental company is seeing signs that consumers are leveraging the work-from-anywhere model that companies are adopting […]

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Etsy stock surges on earnings beat and strong guidance

Etsy reported better-than-expected fourth-quarter results after the bell on Thursday, including soaring profits and 129% revenue growth. The stock rose more than 8% in extended trading following the report. Here’s how the company did:Earnings: $1.08 per share vs. 59 cents per share expected, according to analysts surveyed by RefinitivRevenue: $617.4 million vs. $516 million expected, according to analysts surveyed […]

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AT&T nears deal with TPG to sell large minority stake in DirecTV, U-verse at $15 billion valuation

AT&T is nearing a deal to sell a substantial minority stake in its DirecTV, AT&T TV Now and U-Verse business to private equity firm TPG, according to people familiar with the matter. A deal could be announced as soon as this week, said the people, who asked not to be named because the discussions are private. The […]

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Dow falls from record amid disappointing jobs data and weak Walmart forecast

Walmart Stock

U.S. stocks slid on Thursday as investors were discouraged by a worse-than-expected jobless claims reading as well as a weak forecast from Walmart. The Dow Jones Industrial Average fell 119.68 points, or 0.4%, to 31,493.34, slipping from a record high. At its session low, the 30-stock benchmark was down more than 300 points. The S&P 500 […]

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Oil retreats on rising U.S. dollar, though Texas supply choked

oil producers

Oil prices fell in early trade on Wednesday as the U.S. dollar climbed, retreating after a two-day rally that was driven by an Arctic blast curbing output from oil and gas fields in Texas, the country’s biggest oil-producing state. U.S. West Texas Intermediate (WTI) crude futures gave up 33 cents, or 0.6% to $59.72 a barrel […]

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U.S. House committee approves another $14 billion for pandemic-hit airlines

boeing

A U.S. House committee on Thursday approved a proposal to give airlines another $14 billion in payroll assistance as part of a broader COVID-19 relief package that is working its way through Congress. It would be the third round of support for the pandemic-hit industry. American Airlines and United Airlines have warned of some 27,000 furloughs […]

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Lyft stock rises more than 10% after company reports signs of pandemic recovery

Ride-hailing company Lyft reported fourth-quarter earnings on Tuesday, surpassing Wall Street’s top- and bottom-line expectations but disappointing when it came to active riders. The company’s stock was up more than 9% in after-hours trading, thanks to a beat on revenue and signs the business is recovering slightly from the pandemic. Lyft is also still on track to […]

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Peloton CEO John Foley promises customers more clarity on wait times for delayed orders

Peloton’s CEO is promising anxious customers who are still waiting on their cycles and treadmills that the company is working fast to offer clearer answers on when those might arrive.“We are determined to do what it takes to reduce our delivery times and to get certainty to customers on the delivery dates that we offer,” […]

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Jeff Bezos to step down as Amazon CEO, Andy Jassy to take over in Q3

Amazon CEO Jeff Bezos will leave his post later this year, turning the helm over to the company’s top cloud executive, Andy Jassy, according to an announcement Tuesday. Bezos will transition to executive chairman of Amazon’s board. Bezos, 57, founded Amazon in 1994 and has since morphed the one-time online bookstore into a mega-retailer with global […]

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Social media stocks dip amid GameStop-Reddit frenzy. Why two top names could fall further

Social media stocks are sinking. Though the industry finds itself at the heart of the GameStop-Reddit frenzy as day traders take to social media platforms to express their market views, shares of underlying stocks Twitter and Facebook were unable to stave of broader market pressure on Friday. Twitter fell 2% during the trading session — though it […]

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