Netflix reported fourth-quarter earnings after the bell on Thursday. The streamer beat on both the top and bottom lines, but shares plunged more than 18% in after-hours trading, to the lowest levels since June 2020, on slowing subscriber growth. Here are the key numbers: Earnings per share (EPS): $1.33 vs […]
CNBC
Dow falls 300 points, gives up earlier gains as Wall Street’s struggles persist
Scott Mlyn | CNBC Stocks moved lower on Thursday, giving up their sharp gains from earlier in the session, as Wall Street continues to struggle this year in a rising interest rate environment. The Nasdaq Composite ended the session down 1.3% at 14,154.02 after giving up a 2.1% gain from […]
$2.5 billion wiped from Peloton’s market value as shares tumble below IPO price
A monitor displays Peloton Interactive Inc. signage during the company’s initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019. Michael Nagle | Bloomberg | Getty Images Shares of Peloton closed down 23.9% at $24.22 on Thursday, wiping roughly $2.5 billion off […]
Nasdaq rebounds after falling into correction territory, Dow adds 140 points
Traders work on the floor of the New York Stock Exchange, (NYSE) in New York. Brendan McDermid | Reuters The Nasdaq Composite bounced on Thursday, a day after dipping into correction territory, as investors rotated back into technology names. The Nasdaq, which is home to many of the market’s biggest […]
Atlanta DA seeks special grand jury in Trump Georgia election interference probe
Fulton County District Attorney Fani Willis poses for a photo at her office, Feb. 24, 2021 in Atlanta. The top prosecutor in Atlanta asked a judge Thursday to impanel a special grand jury to investigate efforts by then-President Donald Trump to sway the outcome of the 2020 presidential election in […]
Fed releases long-awaited study on a digital dollar, but doesn’t take a position yet on creating one
Federal Reserve Board Chairman Jerome Powell speaking at a re-nomination hearing of the Senate Banking, Housing and Urban Affairs Committee, on January 11, 2022, in Washington, DC. Pool / Getty The Federal Reserve on Thursday released its long-awaited study of a digital dollar, exploring the pros and cons of the […]
Senate committee votes to advance major tech antitrust bill
Sen. Amy Klobuchar, (D-MN) speaks during the fourth day of the confirmation hearing for Supreme Court nominee Judge Amy Coney Barrett before the Senate Judiciary Committee on Capitol Hill in Washington, DC, October 15, 2020. Susan Walsh | Pool | Reuters The Senate Judiciary Committee voted 16-6 Thursday to advance […]
Peloton to halt production of its Bikes, treadmills as demand wanes
Peloton is temporarily halting production of its connected fitness products as consumer demand wanes and the company looks to control costs, according to internal documents obtained by CNBC. Peloton plans to pause Bike production for two months, from February to March, the documents show. It already halted production of its […]
Stock rally accelerates with Dow rising 250 points, Nasdaq up 1%
Traders work on the floor of the New York Stock Exchange, (NYSE) in New York. Brendan McDermid | Reuters The Nasdaq Composite bounced on Thursday, a day after dipping into correction territory, as investors rotated back into technology names. The Nasdaq, which is home to many of the market’s biggest […]
Record IPO rush of 2021 led to historically dismal returns for investors with no relief in sight
Spencer Platt | Getty Images IPO investors in a record-breaking issuance rush in 2021 have so far been disappointed by dismal returns, and the outlook for the once-booming market is only getting worse with rising rates and insider selling on the horizon. Last year, the number of U.S. traditional IPOs […]