U.S. President Donald Trump delivers an update on the so-called Operation Warp Speed program, the joint Defense Department and HHS initiative that has struck deals with several drugmakers in an effort to help speed up the search for effective treatments for the ongoing coronavirus disease (COVID-19) pandemic, in an address […]
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Rubrik pops 20% in NYSE debut after pricing IPO above range
In this photo illustration, the Rubrik, Inc. logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Data management software maker Rubrik jumped in its New York Stock Exchange debut on Thursday, the latest sign that public market investors are showing an appetite for tech […]
Meta tumbles 11% on weak revenue forecast and Zuckerberg’s comments on spending
Meta shares tumbled 11% Thursday afternoon after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat. The stock was trading at about $438 at 1 p.m. ET, on pace for its worst day since October 2022 and wiping out roughly $141 billion in market cap from its […]
Dow drops more than 400 points on inflation and growth concerns, Meta drags S&P 500 lower: Live updates
Traders work during the opening bell at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. The Dow Jones Industrial Average slid 493 points, or 1.3%, weighed […]
Meta tumbles 12% on weak revenue forecast and Zuckerberg’s comments on spending
Meta CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, D.C., on Jan. 31, 2024. Nathan Howard | Reuters Meta shares tumbled 12% Thursday morning after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat. The […]
Dow drops more than 600 points on inflation and growth concerns, heads for biggest drop of the year: Live updates
Traders work during the opening bell at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images Stocks tumbled Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. The Dow Jones Industrial Average slid 611 points, or 1.6%, weighed […]
Open seating no more? Southwest CEO says airline is weighing cabin changes
A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 7, 2023. Nicolas Economou | Nurphoto | Getty Images Southwest Airlines is weighing changes to its cabin that could involve abandoning its single-class, open-seating system to drive up revenue, CEO Bob Jordan […]
Teamsters union endorses activist Ancora in Norfolk Southern proxy fight
Activist Ancora on Thursday won the support of the BMWED Teamsters in the investor’s efforts to oust Norfolk Southern CEO Alan Shaw and a majority of the railroad’s 13-person board. The labor group said it would back the activist’s seven director nominees over Norfolk Southern management, a significant endorsement in […]
Meta tumbles 14% on weak revenue forecast and Zuckerberg’s comments on spending
Meta’s CEO Mark Zuckerberg attends the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., January 31, 2024. Nathan Howard | Reuters Meta shares tumbled 14% Thursday morning after the company issued weak revenue guidance that overshadowed its first-quarter earnings beat. The stock […]
GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and […]