It’s vital for investors to manage risk right now no matter where interest rates go, according to CME Group chairman and CEO Terry Duffy. “Everybody that I’ve talked to over the last year has been dead wrong when it comes to what the Fed was going to do,” Duffy told […]
CNBC
Meta’s stellar quarter shows Zuckerberg can both monetize and cut costs
Meta Platforms (META) delivered a much better-than-expected second quarter Wednesday, with its robust revenue guidance for the current period further proof the social media giant has made incredible strides monetizing its products even while reining in costs. Revenue for the three months ended June 30 climbed 11% year-over-year, to $32 […]
Amazon cuts jobs at Fresh grocery stores
People walk past an Amazon Fresh store in Washington, DC, on August 26, 2021. Nicholas Kamm | AFP | Getty Images Amazon is cutting some jobs at its Fresh grocery stores, CNBC has confirmed. The company said it’s restructuring the in-store staffing and operations model at its Amazon Fresh stores […]
Meta’s Reality Labs has now lost more than $21 billion since the beginning of last year
The Meta Quest Pro. Meta Meta reported second-quarter earnings on Wednesday and said that its Reality Labs unit, which develops virtual reality and augmented reality technologies needed to power the metaverse, logged a $3.7 billion operating loss. The unit recorded $276 million in second-quarter sales, down from the $339 million […]
Stocks making the biggest moves after hours: Meta Platforms, Chipotle Mexican Grill, ServiceNow and more
Meta headquarters in Menlo Park, California, US, on Thursday, July 21, 2022. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines after the bell: Meta Platforms – Shares of Meta Platforms jumped nearly 6% on stronger-than-expected quarterly results. The social media company issued optimistic sales […]
Meta reports better-than-expected results and issues optimistic guidance for third quarter
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022. David Paul Morris | Bloomberg | Getty Images Meta reported earnings and revenue for the second quarter that topped analysts’ estimates and issued a better-than-expected forecast […]
Chipotle shares slide as sales fall short of Wall Street’s expectations
A Chipotle restaurant in New York, US, on Monday, July 3, 2023. Jeenah Moon | Bloomberg | Getty Images Chipotle Mexican Grill on Wednesday reported quarterly earnings that crushed expectations, but the burrito chain’s sales fell short. The stock fell more than 8% in extended trading. Shares were up 50% […]
The Dow just posted its best winning streak since the 1980s. Why it keeps going higher
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. Brendan McDermid | Reuters The Dow Jones Industrial Average just won’t stop going higher it seems like. What is behind this historical momentum for the blue chip measure created more […]
Major League Pickleball founder looks to capitalize on the sport’s growing ‘cool’ factor
Just a few years ago, pickleball was barely known to most people. Today, it’s America’s fastest growing sport. With courts popping up in cities and parks across the country, celebrities and pro athletes buying up pro teams, and more than 36 million people giving it a shot last year, it’s […]
Tesla under investigation by California attorney general over Autopilot safety, marketing
The California attorney general’s office is investigating Tesla, seeking information from customers and former employees about Autopilot safety issues and false advertising complaints, CNBC has learned. Greg Wester, the owner of a 2018 Tesla Model 3, filed a complaint with the Federal Trade Commission in August 2022, regarding “phantom braking” […]