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Page 307 of North America news, latest stories & analysis
Uber jumps 10% as ride volume starts to recover after bottoming out in April
Uber Technologies Inc. (NYSE: UBER) released its quarterly financial results on Thursday that resulted in an initial response of the company’s stock dropping slightly in extended trading. Following CEO Dara Khosrowshahi’s statement that ride volume is now starting to recover after hitting its lowest in mid-April, however, Uber jumped 10%…
May 8, 2020
T-Mobile tops analysts’ estimate for earnings but falls short on the revenue front in Q1
T-Mobile US Inc. (NASDAQ: TMUS) released its quarterly financial results on Wednesday that topped analysts’ estimate for earnings but fell short on the revenue front. In the regular session, the company dropped around 2.7% in the stock market but it was followed by a 1.3% recovery in extended trading. T-Mobile…
May 7, 2020
AB InBev’s core profit declines 13.7% in Q1 as Coronavirus closes bars and restaurants
In its announcement on Thursday, Anheuser-Busch InBev (EBR:ABI) estimated a more pronounced hit to its Q2 financial performance as Coronavirus continues to restrict people to their homes. The company, however, said that customers are now slowly starting to return in China and South Korea as restaurants and some bars started…
May 7, 2020
JetBlue’s revenue slumps 15.1% in Q1 due to COVID-19 restrictions on travel and tourism
JetBlue Airways (NASDAQ: JBLU) released its first-quarter earnings report on Thursday that posted a broader hit to revenue than what the experts had forecast. The company attributed its downbeat performance to the Coronavirus pandemic that brought the global travel and tourism industry to a near halt in March. JetBlue was…
May 7, 2020
Peloton’s revenue climbs 66% on greater demand for fitness equipment in Q3
Peloton Inc. (NASDAQ: PTON) released its quarterly earnings report on Wednesday that posted a massive 66% year over year increase in its revenue in the fiscal third quarter. The company said that its live classes and fitness equipment were greatly in demand as the Coronavirus pandemic restricted people to their…
May 7, 2020
Lyft jumps 17% on more riders in Q1 despite Coronavirus restrictions
Lyft Inc. (NASDAQ: LYFT) released its quarterly financial results on Wednesday that showed an increase in riders despite the Coronavirus driven restrictions on travel and transport in the U.S and pushed the company’s stock 17% higher in extended trading.In the first quarter, the ride-hailing company saw a 3% annualized increase…
May 7, 2020
PayPal falls short of analysts’ estimates for earnings and revenue in the first quarter
PayPal Holdings Inc. (NASDAQ: PYPL) posted a weaker than expected earnings report on Wednesday. The company attributed its downbeat performance to the Coronavirus pandemic that hit the hardest in March. In April, however, the company said that trends were already starting to recover. PayPal announced May 1st to have posted…
May 7, 2020
New York Times ad revenue declines by 15.2% in Q1 as Coronavirus weighs on demand
In a statement on Wednesday, the New York Times (NYSE: NYT) warned of a 50-55% decline (year over year) in advertising revenue in the second quarter as Coronavirus weighs on demand. In the first quarter, the company boasted 587K new digital subscriptions that marked the highest quarterly increase in digital…
May 7, 2020
Venture Capitalist Runa Capital closes third round of funding
American international venture capital firm Runa Capital has announced a successful third round of funding. Fund III exceeded its target of £110 million by over £17 million to close at about £127 million ($157 million).The start-up financier was established by a team of serial entrepreneurs to invest in…
May 7, 2020
CVS Health posts an upbeat financial report as customers stockpiled ahead of COVID-19
CVS Health (NYSE: CVS) released its quarterly financial results on Wednesday that topped analysts’ estimates for earnings and revenue. The company attributed its upbeat performance to customers stockpiling prescription drugs and related essentials ahead of the Coronavirus lockdown. CVS, however, warned that the pandemic has fuelled a significant decline in…
May 6, 2020
Wendy’s jumps 6% despite a weaker than expected earnings report on Wednesday
In its announcement on Wednesday, Wendy’s (NASDAQ: WEN) said that its sales in the United States are slowly starting to recover from the COVID-19 driven hit to its business in the past months. The company saw a sharp decline in comparable-store sales in March and half of April. In the…
May 6, 2020
General Motors records a £237 million profit in Q1 despite the Coronavirus restrictions
General Motors (NYSE: GM) recorded a £237 million profit in the first quarter on Wednesday despite the Coronavirus pandemic that brought the global auto industry to a near halt. The company’s North American business generated £1.78 billion in quarterly earnings but its international operations lost £445 million in Q1. The…
May 6, 2020
Virgin Galactic posts a £42.84 million adjusted EBITDA loss in the first quarter
Virgin Galactic (NYSE: SPCE) released its quarterly performance results on Tuesday that recorded a £42.84 million adjusted loss (EBITDA) in the first quarter versus the year-ago figure of £44.46 million. The company boasted 400 customers at the end of the recent quarter that have made deposits for space tourism. …
May 6, 2020
The Cheesecake Factory swings to a £3.18 million net loss in the first quarter
The Cheesecake Factory (NASDAQ: CAKE) released its quarterly financial report on Tuesday that showed it to have swung to a loss in the fiscal first quarter. The company attributed its downbeat performance to the Coronavirus pandemic that pushed it into furloughing thousands of its employees as it temporarily closed its…
May 6, 2020
Pinterest drops 19% on disappointing user growth in the first quarter
Pinterest Inc. (NYSE: PINS) released its first-quarter earnings report on Tuesday that pushed the stock around 19% down in extended trading on lower than expected growth in the company’s user base in the first quarter.Pinterest’s Q1 financial results versus analysts’ estimatesAccording to Refinitiv, experts had forecast the company to print…
May 6, 2020
Disney reports a 37% drop in operating income in the second quarter
Disney (NYSE: DIS) released its quarterly financial results on Tuesday that topped analysts’ estimate for revenue but fell short on the earnings front. Following the release of the financial report, Disney was reported over 2% down in extended trading on Tuesday. The company said that the Coronavirus pandemic weighed on…
May 6, 2020
Fiat Chrysler swings to a loss in Q1 as COVID-19 shuts factories and weighs on demand
In its announcement on Tuesday, Fiat Chrysler Automobiles (NYSE: FCAU) said that the ongoing Coronavirus pandemic weighed heavily on demand in Q1 and swung the company to a net quarterly loss. According to FCA: “The pandemic has had, and continues to have, a significant impact on our operations.” The Italian…
May 5, 2020
Wayfair’s net loss widens despite a 20% increase in sales in Q1
Wayfair Inc. (NYSE: W) released its quarterly financial results on Tuesday that posted a 20% increase in its sales in the first quarter. The company, however, reported its net loss to have widened in Q1. Following the release of the earnings report, Wayfair was reported roughly 3% down in premarket…
May 5, 2020
DuPont swings to a £495 million loss in Q1 as Coronavirus weighs on performance
DuPont Inc. (NYSE: DD) swung to a loss of £495 million in the first quarter that translates to 66.6 pence per share. In the comparable quarter last year, the company had recorded £418.50 million in profit. In its report on Tuesday, the company also cited the Coronavirus uncertainty as it…
May 5, 2020
Tenet Healthcare records stronger than expected profit in Q1 on a tax benefit from the CARES act
Tenet Healthcare (NYSE: THC) released its quarterly financial results on Monday that posted stronger than expected profit in Q1 that the company attributed to a tax benefit associated with the COVID-19 bill. In the second quarter, however, the company said that the Coronavirus driven financial hit is likely to be…
May 5, 2020
Microsoft to extend its cloud services to Poland with an £800 million investment
In an announcement on Tuesday, Microsoft Corp. (NASDAQ: MSFT) said that it plans on investing £800 million in Poland directed at the establishment of a data centre to extend its cloud services to businesses across the country and government institutions. Microsoft also highlighted to have signed a deal with Poland’s…
May 5, 2020
Amazon’s vice president resigns citing disappointment in the company’s decision of firing whistle-blowers
Amazon Web Services (AWS) vice president announced his resignation on Monday citing disappointment over the company’s decision of firing its workers for protesting against its labour practices. AWS VP writes a blog post entitled “Bye, Amazon” Tim Bray said in his blog post entitled “Bye, Amazon” that Friday was his…
May 5, 2020
Insurer AIG reports a 93% decline in quarterly profit as Coronavirus fuels claims
American International Group Inc. (NYSE: AIG) released its quarterly financial results on Monday that printed a massive 93% decline in adjusted profit in the first quarter. The company also set aside money as it speculated the Coronavirus pandemic to fuel claims.In the first quarter, AIG recorded £69.94 million in…
May 4, 2020
Mall REITs are bracing for tougher times ahead
The outbreak of the deadly Coronavirus has dealt a major blow to the global economy. Some of the most effective measures put in place to curb the virus spread include social distancing, which is awful news to mall owners with real estate investment trusts (REITs) in their portfolios. Businesses are…
May 4, 2020
Apple launches new MacBook Pro 13-inch that addresses keyboard issues
Apple Inc. (NASDAQ: AAPL) announced its new MacBook Pro with a 13-inch display on Monday. The company said that the new machine will come with twice the storage capacity (256 GB) on its entry-level model as compared to the previous version. Despite the storage upgrade, the company kept the price…
May 4, 2020
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