The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to soothe skittish investors. But one […]
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PayPal issues disappointing guidance even as fourth-quarter earnings top estimates
A PayPal sign is seen at its headquarters in San Jose, California, on Jan. 30, 2024. Justin Sullivan | Getty Images News | Getty Images PayPal reported better-than-expected fourth-quarter results Wednesday, but issued guidance that was a bit below estimates. The shares slipped in extended trading. Here’s how the company […]
Arm shares spike after chip designer gives strong forecast, says AI is increasing sales
Arm makes the CPU architecture for chips found in nearly all smartphones. An Arm chip is shown here in San Jose, California, on October 12, 2023. Sydney Boyo Arm reported fiscal third-quarter earnings that beat estimates and gave a strong profit forecast for the current quarter. The shares soared more […]
Disney beats earnings estimates, hikes guidance as it slashes streaming losses
LOS ANGELES — The Walt Disney Company reported better-than-expected fiscal first-quarter earnings on Wednesday, as the media giant slashed costs while revenue stagnated. The company hiked its guidance, and now expects fiscal 2024 earnings per share of about $4.60, which would be at least 20% higher than 2023. Disney said […]
New sports streaming bundle could be a ‘monster’ — or a dud. Here are the biggest remaining questions
Los Angeles Lakers forward LeBron James, #23, during the NBA game between the Los Angeles Clippers and the Los Angeles Lakers at Crypto.com Arena in Los Angeles on Jan. 7, 2024. Jevone Moore | Icon Sportswire | Getty Images The U.S. media world was rushing — or panicking? — Wednesday […]
Trump Media SPAC insider trading defendant hit with new money laundering count
Michael Shvartsman, hides from journalists using an umbrella after exiting Federal Court, Thursday, July 20, 2023, in New York. John Minchillo | AP A man already charged with insider trading related to a shell company’s planned merger with Donald Trump‘s social media firm was hit with a new money laundering […]
Enphase CEO says solar industry poised to rebound on falling interest rates and rising utility costs
Rafael Henrique | Lightrocket | Getty Images Enphase Energy sees light at the end of the tunnel this year for the solar market after the industry has taken a beating from high interest rates. High rates have depressed demand for residential solar installations in 2023, leaving companies such as Enphase […]
NYCB shares whipsaw after Moody’s cuts regional bank’s credit rating to junk
The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images New York Community Bank on Wednesday promoted its chairman to help stabilize the company’s operations, hours after Moody’s Investors Service downgraded the bank’s credit ratings two notches to junk. […]
Hedge fund billionaire Bill Ackman to launch a NYSE-listed fund for regular investors
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Pershing Square’s Bill Ackman is set to offer a new investment vehicle listed on the New York Stock Exchange, aiming to leverage his following among Main […]
Spirits sales beat out beer and wine for second straight year, despite little growth
Spirits on display at a bar in Cardiff, Wales, in the United Kingdom. Matthew Horwood | Getty Images News | Getty Images The spirits industry held its market share edge over beer and wine for the second straight year in 2023, even as it showed little growth, according to new […]