In this article META Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak forecast, pointing to a second consecutive decline in year-over-year sales. The shares dropped 3.8% in extended trading. Here’s how the company did: Earnings: $2.46 per share vs. $2.59 per share expected, according to Refinitiv
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Traders react on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, July 27, 2022. Brendan Mcdermid | Reuters Stock futures moved slightly lower in overnight trading after markets staged a major
When Kylie Jenner’s very brief flight on a private jet went viral last week, people were outraged — largely about the environmental impact of the trip. Jack Sweeney was unfazed. The 19-year-old whose Twitter account @CelebJets publicized Jenner’s trip has made a name for himself since January by publicly tracking the private jets of billionaires
The Good Brigade | DigitalVision | Getty Images As the Federal Reserve again raises interest rates to combat soaring inflation, some advisors are shifting clients’ investment portfolios. The central bank on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase, aiming to curb rising prices without triggering a recession. The move
The U.S. Federal Reserve increased its benchmark interest rate by 75 basis points to a range of 1.5%-1.75% in June — the biggest increase since 1994. Fed Chair Jerome Powell (above) flagged there could be another rate hike in July. Mary F. Calvert | Reuters The Federal Reserve raised its benchmark interest rates by 75
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A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association of Realtors said Wednesday. That is the slowest pace since
New Jersey’s proposed ban on the sale of menthol cigarettes (Assembly Bill 1989) would reduce excise and sales tax collections by as much as $243 million per year. Despite the significant revenue loss, smoking rates are unlikely to decline. New Jersey should look to the recent Massachusetts experiment to see what to expect if they
Boeing’s Starliner spacecraft is seen before docking with the International Space Station on May 20, 2022 during the uncrewed OFT-2 mission. NASA Boeing disclosed a charge of $93 million in the second quarter from its Starliner astronaut capsule program, bringing the program’s overrun costs to nearly $700 million. The aerospace giant said the latest charge
In this article BA An aerial view of Boeing 777X and Boeing 737 MAX 10 airplanes parked at King County International Airport-Boeing Field, in Seattle, Washington, June 1, 2022. Lindsey Wasson | Reuters Boeing on Wednesday stuck by its forecast to return to free cash flow this year as it prepares to resume deliveries of its 787 Dreamliner planes
In this article SHOP-CA TPX GRMN SPOT HLT BA Check out the companies making headlines before the bell: Boeing (BA) – Boeing posted a wider-than-expected quarterly loss with revenue that fell below consensus estimates. However, Boeing reported positive operating cash flow and, unlike in prior quarters, did not see any charges related to the production
Top officials at the Federal Reserve were seeing inflation data come in very hot for months before policymakers moved to wind down monetary policies that were stimulating the economy. A chorus of analysts, economists and former policymakers have chimed in, saying that was a mistake. “The forward guidance, overall, slowed the response to the Fed
AJ Watt | Getty Images As many Medicare beneficiaries know, having a doctor’s appointment via video on a laptop or tablet became standard when the pandemic hit. That method of delivering remote care — known as telehealth — to many retirees and most people in the over-65 crowd may have some staying power, at least
Most apartments in China are sold before developers finish building them. Pictured here on June 18, 2022, are people selecting apartments at a development in Huai’an, Jiangsu province, near Shanghai. Future Publishing | Future Publishing | Getty Images BEIJING — China’s property sales are set to plunge this year by more than they did during
World Wrestling Entertainment Inc. Chairman Vince McMahon (L) and wrestler Triple H appear in the ring during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 Ethan Miller | Getty Images Entertainment | Getty Images World Wrestling Entertainment‘s annual report for 2021 lists a risk factor specifically about the
In this article GM GM GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan. Photo by John F. Martin for GM General Motors reported second-quarter earnings Tuesday that missed Wall Street’s estimates
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany, September 30, 2016. Kai Pfaffenbach | Reuter Deutsche Bank beat market expectations to post an eighth straight quarter of profit on Wednesday, recording a second-quarter net income of 1.046 billion euros ($1.06 billion). The German lender exceeded consensus expectations among
Paul Bradbury | Ojo Images | Getty Images Federal student loan servicers have been told to hold off on sending out payment reminders to borrowers, according to two sources familiar with the matter. The development suggests the Biden administration could be considering extending the pandemic-era payment pause on federal student loans yet again. The policy,
Banks in Singapore raised housing loan rates in June, following the U.S. Federal Reserve’s decision to increase interest rates by 75 basis points in the same month to cool inflation — its most aggressive hike since 1994. Nurphoto | Nurphoto | Getty Images Homeowners in Singapore are starting to tighten their belts as they will
Efforts to raise taxes on corporations and high-income earners recently hit a brick wall when U.S. Senator Joe Manchin (D-WV) once again expressed concerns about inflation and a potential recession. That would seem to be the end of the story, as there is no reason to think inflation will be going away anytime soon and