Uber shares initially dropped after-hours Thursday as the company reported third quarter revenue that missed Wall Street’s expectations, but picked up during the company’s earnings call when the CEO said there are early signs its core ride-hailing business would fully recover from the Covid 19 pandemic. Here’s how the company performed versus […]
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Peloton shares fall despite earnings beat as bike maker warns of ongoing supply constraints
Peloton on Thursday reported quarterly sales growth of 232%, exceeding the company’s expectations, as consumers turned to its bikes and treadmills to work out from home during the coronavirus pandemic. The bike maker raised its revenue outlook for fiscal 2021, and now expects to report $3.9 billion or more in […]
Dow surges more than 500 points, heads for best week since April as post-election rally continues
Stocks jumped on Thursday on hopes the winner of the U.S. presidential and congressional elections would soon be determined, with shares of major tech-related companies leading the gains. The Dow Jones Industrial Average closed 542.52 points higher, or 1.95%, at 28,390.18. Earlier in the day, the 30-stock average was higher […]
Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels
The Federal Reserve held short-term borrowing rates near zero in a decision Thursday that characterized the economy as growing but not near where it was before the coronavirus pandemic hit. As markets widely expected, the Fed kept its benchmark interest rate anchored in a range between 0%-0.25%, where it has […]
DOJ seeks to block Visa’s $5.3 billion acquisition of start-up Plaid over antitrust concerns
Plaid co-founder and CEO Zach Perret. Plaid The Department of Justice is looking to block Visa‘s planned acquisition of fintech start-up Plaid on grounds that it would limit competition in the payments industry. U.S. attorneys for the DOJ outlined potential for the deal to extend a Visa “monopoly” on debit […]
Trump campaign will sue in Nevada, claiming votes by people who moved or who are dead; Biden lead widens
A Clark County election worker scans mail-in ballots at the Clark County Election Department on October 20, 2020 in North Las Vegas, Nevada. Ethan Miller | Getty Images President Donald Trump‘s campaign said it is filing a federal lawsuit in Nevada on Thursday seeking to block “illegal votes” from people, […]
Homeowners and buyers are the real winners in this election
People wait to visit a house for sale in Garden City, Nassau County, New York, on Sept. 6, 2020. Xinhua News Agency | Getty Images Volatility surrounding the 2020 presidential election has helped push mortgage rates to their 12th record low this year, giving both homeowners and buyers a boost. […]
Stocks jump as post-election rally continues, Dow up more than 300 points
Stocks jumped on Thursday on hopes the winner of the U.S. presidential election would soon be determined. The Dow Jones Industrial Average traded 386 points higher, or 1.4%. Earlier in the day, the 30-stock average was higher by more than 600 points. The S&P 500 climbed 1.5% and the Nasdaq […]
Bitcoin surges past $15,000, hitting its highest level since January 2018
Chesnot | Getty Images Bitcoin‘s price climbed above $15,000 on Thursday, hitting a level not seen since January 2018 amid U.S. presidential election uncertainty. The world’s best-known cryptocurrency was last trading almost 9% higher at a price of $15,233, according to data from industry website CoinDesk. Bitcoin has been on […]
Trump campaign expected to file election lawsuit in Nevada as Biden gains ground in other states
A Clark County election worker scans mail-in ballots at the Clark County Election Department on October 20, 2020 in North Las Vegas, Nevada. Ethan Miller | Getty Images President Donald Trump’s campaign on Thursday is expected to announce a plan to file a lawsuit related to the presidential election in […]