Author: News Room

Broadcom reported fiscal third-quarter results on Thursday that beat Wall Street expectations for revenue and earnings.Broadcom shares fell 7% in extended trading after guidance was in-line with expectations.Here is how the chipmaking conglomerate did versus LSEG consensus estimates for the quarter that ended Aug. 4:Earnings per share: $1.24 adjusted vs. $1.20 expectedRevenue: $13.07 billion vs. $12.97 billion expectedBroadcom projects current-quarter revenue of $14 billion, versus $1.36 per share on $14.04 billion expected.Broadcom reported a net loss of $1.88 billion, or a loss of 40 cents per share, versus net income in the year-ago quarter of $6.12 billion, or $1.24 per…

Check out the companies making headlines in after-hours trading: DocuSign — The e-signature software company ticked up nearly 1% after posting a top- and bottom-line beat. DocuSign’s adjusted earnings of 97 cents per share for the second quarter exceeded analysts’ expectations of 80 cents per share, according to LSEG. DocuSign’s revenue of $736 million also beat estimates of $727 million for the quarter. Broadcom — The semiconductor company slipped about 6%. Broadcom said it sees $14 billion of revenue for the fiscal fourth quarter , while analysts called for $14.04 billion, per LSEG. In the fiscal third quarter, Broadcom reported…

Long-term mortgage rates remained unmoved this week while shorter notes fell some, but did little to spur on demand. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage held steady at 6.35%. The average rate on a 30-year loan was 7.12% a year ago. “Mortgage rates remained flat this week as markets await the release of the highly anticipated August jobs report,” said Sam Khater, Freddie Mac’s chief economist. “Even though rates have come down over the summer, home sales have been lackluster.” Khater noted there has been an uptick…

There’s been a growing interest lately in phased retirement, as indicated by the results of several surveys. For example, more than half (52%) of pre-retirees wish to continue working in some way after they retire, according to The Retirement Outlook of the American Middle Class, a survey whose results were recently released by the Transamerica Center for Retirement Studies. However, phased retirement isn’t a “one-size-fits-all” concept. Let’s look at various ways you can transition into this new stage and how it can help you in meet your financial and life goals. What Is Phased Retirement And How Is It Different…

Kamala Harris’ campaign has accepted the terms of next week’s presidential debate with former President Donald Trump, including the fact that the candidates’ microphones will be muted when it is not their turn to speak, according to a person familiar with the debate negotiations. However, in a letter to ABC News Wednesday afternoon agreeing to the rules, the Harris campaign again laid out their objections to the muted mics condition, insisting that they believe the vice president will be “disadvantaged” by the format. “Vice President Harris, a former prosecutor, will be fundamentally disadvantaged by this format, which will serve to shield Donald Trump…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseKamala Harris has proposed to increase the top capital gains tax rate for the wealthiest Americans to 28 per cent, softening a centrepiece of US President Joe Biden’s fiscal proposals as she offers an olive branch to Wall Street. The move comes as Harris fleshes out her economic proposals in a dash to defeat Donald Trump in the presidential election two months from now. The vice-president emerged as the Democratic nominee for the White House after Biden dropped his…

September 4th ended up being a pretty dark day for shareholders of United States Steel Corporation (NYSE:X). Shares of the company declined by more than 20% at one point. This came after a report that President Joe Biden is preparing to block its purchase by Japanese steel manufacturer Nippon Steel Corporation (OTCPK:NPSCY, OTCPK:NISTF). For those like me who have been bullish on United States Steel stock, this is painful. However, for many investors, I believe that this would be looked back upon over the next year or so as an excellent buying opportunity. Major Developments Throughout my last two articles…

Chipotle is already getting into the Halloween spirit. The fast-casual chain announced a costume collection with Spirit Halloween Wednesday, the seasonal Halloween costume store that pops up every year in abandoned storefronts. The collection is made up of bodysuits that are meant to resemble a Chipotle napkin, fork, water cup, burrito and to-go bag. Chipotle is building off a running online joke. Two years ago, it posted a fake “Chipotle Fork” bodysuit with the caption “Found ur costume.” Then last year, another fake “Chipotle Napkin” costume showed up on its Instagram. Chipotle is not the first brand to materialize a…

Vice President Kamala Harris on Wednesday proposed a 28% tax on long-term capital gains for households with an annual income of $1 million or more, lower than the 39.6% rate President Joe Biden laid out in his 2025 fiscal year budget.”We will tax capital gains at a rate that rewards investment in America’s innovators, founders and small businesses,” the Democratic presidential nominee said at a rally in North Hampton, New Hampshire. The Wall Street Journal was first to report Harris’ capital gains tax plan.Long-term capital gains, or assets held for more than one year, are currently taxed at a maximum…

Here are the stocks making notable moves after Wednesday’s market close: C3.ai — Shares of the technology company dropped 16% after subscription revenue came in below expectations for the fiscal first quarter. C3.ai reported $73.5 million in subscription revenue for the period, below the $79.2 million expected by analysts, according to FactSet. Topgolf Callaway — The golf equipment and entertainment stock jumped 1% after the company announced that it will split into two separate firms. Callaway will be a golf equipment and active lifestyle company, while Topgolf will focus on golf entertainment. Hewlett Packard Enterprise — The tech stock fell…