Author: News Room
Democrats on Wednesday adopted the rules the party will use to choose their presidential nominee, with voting to officially nominate Kamala Harris likely to begin August 1. That would be less than two weeks after President Joe Biden ended his campaign for reelection and endorsed his vice president, who quickly consolidated support within the party for her presidential bid. In just the first few days of her campaign, Harris earned the backing of hundreds of Democratic elected officials, including all her potential challengers, and it took her less than 36 hours to secure the support of enough delegates to win the nomination. Under the rules…
Stay informed with free updatesSimply sign up to the US equities myFT Digest — delivered directly to your inbox.US stock indices on Wednesday recorded their worst day in more than 18 months after lacklustre overnight results from index heavyweights Tesla and Alphabet deepened a technology sector sell-off. The blue-chip S&P 500 fell 2.3 per cent, its worst day since December 2022, while the tech-heavy Nasdaq Composite fell 3.6 per cent, its worst day since October 2022. The losses in both were driven by big tech stocks, including Nvidia, Microsoft, Apple and Tesla. Tech — and artificial intelligence stocks in particular…
This article was written byFollowSeeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team Read the full article here
If there’s one emotion that Disney and Pixar are probably feeling right now, it’s joy. That’s after movie sequel “Inside Out 2” became the highest-grossing animated film of all time, raking in $1.46 billion at the global box office and dethroning former record holder “Frozen 2” from 2019, according to Disney on Wednesday. That’s giving a much-needed boost to Hollywood, which saw a slow start to the summer season and is still grappling with the effects of the writers’ and actors’ strikes of last year. “Inside Out 2” hit theaters last month and passed the $1 billion mark just 19…
Chipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations as it saw higher traffic at its restaurants, bucking an industry slowdown.Shares of the company rose about 13% in extended trading. As of Wednesday’s close, Chipotle’s stock had slid 17% this month, hurt by investor concerns about the health of the restaurant industry. In late June, the company executed a 50-for-1 stock split.Here is what the company reported for the quarter that ended in June 30 compared to what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 34 cents adjusted…
IBM shares rose 5% in extended trading on Wednesday, after the company reported second-quarter results that surpassed analysts’ predictions.Here are the key numbers.Earnings per share: $2.43 adjusted vs. $2.20 expected, according to LSEGRevenue: $15.77 billion vs. $15.62 billion expected, according to LSEG.Revenue increased 1.9% from $15.48 billion a year ago, IBM said in a statement. Net income of $1.83 billion, or $1.96 per share, was up from $1.58 billion, or $1.72 per share, a year earlier.The company, which provides hardware, software and consulting services, now expects 2024 free cash flow to come in above $12 billion. In April, executives were…
A frequent question I hear from people getting ready to enroll in Medicare is: What is the biggest mistake people make? There are too many question to identify just the biggest. However, a top contender for the honor would be COBRA. The Consolidated Omnibus Budget Reconciliation Act mandated this coverage to help workers and their families continue group health benefits during times of job loss, work reduction, transition between jobs, and other life events. In most cases, those who accept COBRA coverage before age 65 will discover it ends as of their 65th birthday. However, those older than 65 who…
Over 20 Republican state attorneys general asked the Supreme Court on Tuesday to temporarily block the Environmental Protection Agency from enforcing new rules that aim to curb planet-warming emissions from power plants. The filing comes days after a federal appeals court in Washington, DC, turned down a similar emergency request from the officials and industry groups. They want the new rules shelved while their legal challenge plays out in federal courts. The EPA’s new rules will compel existing coal and new natural gas power plants to either cut or capture 90% of their climate pollution by 2032. The rules are…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Alphabet’s revenues jumped 14 per cent in the second quarter, with double-digit growth in advertising suggesting that AI chatbots like OpenAI’s ChatGPT have not yet made a dent in queries on its dominant search engine.Even stronger growth in its cloud computing business demonstrated the rapacious demand for computing and data services as Big Tech companies and start-ups race to build large language models and integrate AI into their businesses.Revenues rose to $84.7bn from $74.6bn in the three months to June, the parent…
This article was written byFollowSeeking Alpha’s transcripts team is responsible for the development of all of our transcript-related projects. We currently publish thousands of quarterly earnings calls per quarter on our site and are continuing to grow and expand our coverage. The purpose of this profile is to allow us to share with our readers new transcript-related developments. Thanks, SA Transcripts Team Read the full article here
