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Business News

Location American Business News for 7 November 2024
Lyft shares soar 20% on results and autonomous-vehicle partnership Lyft reported third-quarter sales that beat expectations while offering an upbeat demand forecast, after the ride-hailing platform earlier in the day announced an autonomous-vehicle partnership with Mobileye Global Inc.
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Qualcomm's rosy forecast sends stock surging, and more buybacks may be on deck Qualcomm is upping its buyback program by $15 billion after repurchasing more than $4 billion in stock last fiscal year.
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Moldova cleans up its act to attract foreign businesses Deputy PM admits former Soviet state was until recently a 'highly corrupt country' - but insists things are changing fast.
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Trump Media short sellers lost $420 million after betting against stock before blowout election victory Trump Media and Technologies Group saw its shares surge by nearly 200% since late September.
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Warner Bros. Discovery said its streaming platform Max added 7.2 million subscribers during the third quarter.
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Planet Fitness's stock rises premarket as it beats profit and revenue estimates Gym chain boosts its outlook for 2024 revenue growth.
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U.S. economy's secret weapon, productivity, rises sharply again Third-quarter productivity increases at 2.2% pace
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Krispy Kreme's stock drops on earnings miss

Market Watch - 7 Nov 2024 15:19
Krispy Kreme's stock drops on earnings miss Doughnut maker warns its full-year 2024 profit is expected to fall short of analyst estimates.
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Gilead's third-quarter earnings beat by a wide margin, and biotech raises guidance Gilead Sciences Inc.'s stock rose 2.7% in after-hours trading Wednesday, after the biotech blew past third-quarter earnings estimates and raised its guidance, boosted by demand for its HIV and COVID-19 treatments.
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Trump has a 'super clear' mandate on taxes -- but here's why it's not a done deal If tax policy is a poker game, the open matter of House control is a valuable chip.
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AMC reports better-than-expected Q3 results amid improving box office AMC Entertainment Holdings reported better-than-expected third-quarter revenue and a narrower loss after market close Wednesday, with the movie-theater chain and original meme stock pointing toward a box-office rebound.
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Kenya Collects Over $77M in Taxes From 384 Crypto Traders The Kenyan government collected $77.5 million tax revenue from cryptocurrency traders in the last fiscal year. Kenya Seeks $465 Million in Crypto Taxes The Kenyan government collected $77.5 million (10 billion shillings)...
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Arm says it's fueling many AI needs, but its stock shrugs off an earnings beat The chip designer beat expectations for both its revenue segments.
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Auto & Transport Roundup: Market Talk

Wall Street Journal - 7 Nov 2024 23:55
Auto & Transport Roundup: Market Talk Find insight on Mobileye Global, Air France-KLM, Daimler Truck and more in the latest Market Talks covering the auto and transport sector.
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NFIB Files Lawsuit Against FTC's Automatic Renewal Rule

Small Business Trends - 7 Nov 2024 23:53
The NFIB has filed a lawsuit challenging the FTC's new rule on automatic renewals, arguing it imposes excessive burdens on small businesses.
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Pinterest's stock tumbles as earnings show slim revenue beat Pinterest Inc.'s stock tumbled 14% in after-hours trading Thursday after the company, which operates a platform for photo and video sharing, posted third-quarter earnings showing a slim revenue beat.
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Rivian's losses widen, but investors like hearing of 'progress' in next-gen EV Rivian posted a wider loss and lower sales than Wall Street expected, but says it is making progress with its next-generation EV platform.
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Stocks Keep Climbing as Fed Cuts Rates

Wall Street Journal - 7 Nov 2024 23:49
Big tech stocks push higher, while the financial and industrial sectors pull back after Wednesday's big gains; Lyft jumps 22%.
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News Corp Financial Chief Panuccio to Resign; Chandrashekar Named Successor The media company named Lavanya Chandrashekar as its next CFO, succeeding Susan Panuccio, who plans to step down from the role on Jan. 1.
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Affirm sees booming buy-now-pay-later growth, but stock dips after earnings The company is seeing more of its business shift toward interest-bearing products.
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Consumer credit posts small increase as Americans cut back on credit-card purchases The amount of credit U.S. consumers used in September rose a scant 1.4%, but the increase was tied mostly to student loan as Americans scale back on borrowing.
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Rivian Maintains Profitability Target Despite Part Shortage

Wall Street Journal - 7 Nov 2024 23:41
Rivian Maintains Profitability Target Despite Part Shortage The carmaker said a part shortage in the third quarter hampered factory production, but it is still on track to report its first gross profit by year-end.
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