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IBM Shares Fall as CEO Doubles Down on Quantum While Market Stays Skeptical
At New York Tech Week on Tuesday, IBM’s CEO made his strongest argument so far that quantum computing is real, ready for business, and closer than most people think. Even as Arvind Krishna called quantum the next step after CPUs and GPUs and promised a $10 billion investment over five years, IBM shares dropped along […]
Market Insights
Tesla Reported Third Quarter Results – Here is How the Company Did
Ticker Symbol: TSLA Tesla, the electric vehicle giant led by the always controversial Elon Musk, announced its third quarter results that were behind most analysts’ forecasts for the top-line. Shares were down over 4% in the noon trading session as indications emerge that demand may be softening going into year-end. The company said it would […]
Netflix Shares Surge After Company Gains Subscribers Again
NFLX Netflix shares are up 15% in morning trading after the company said it added more than 2.4 million subscribers in the third quarter of fiscal 2022. Wall Street analysts on average had been expecting the company to add only 1 million subscribers during the quarter, reflecting a huge beat by the streaming giant. Netflix […]
Roblox Shares Are Ripping Higher – Here’s Why
RBLX Roblox Corp, the videogame and educational game design company predominantly aimed for kids, reported a substantial jump in September books as a return to school possibly prompted users spending more time on the company’s platform. Roblox’s shares were last trading at $42.51, up over 19.5% for the day. The company’s shares have declined by […]
PepsiCo Shares Up on Beat and Raised Outlook
PEP Shares in carbonated drinks and snacks manufacturer PepsiCo are up this morning after the company beat on its revenue and earnings estimates for the third quarter and raised its outlook for the fiscal year. Pepsi’s management also said that demand for its products remains robust despite rising prices and a broader promotion driven environment […]
Ride-Sharing Companies Fall on New Proposed Rules
Ticker Symbol: UBER, LYFT, DASH Shares in companies that rely on “gig workers” declined sharply today after the U.S. Department of Labor issued a proposal that could result in many contract workers at companies such as Uber and DoorDash be reclassified as employees. Shares in Uber were down 6.1% in the afternoon trading session, whiles […]
September’s Jobs Report Comes in Stronger Than Expected
The September nonfarm payrolls report from the U.S. Labor Department showed that the economy added 263,000 jobs during the month, higher than the 255,000 expected by economists, while the unemployment rate unexpectedly declined to 3.5% from 3.7% in August. Furthermore, average hourly earnings rose by 0.3% from the previous month and 5% from the year […]
Here Are Today’s Top Stock Movers
COMP Compass Inc., the New York based online realty firm, denied rumors today that the company was the target of a takeover by private equity firm Vista Equity Partners. Shares were last trading up 9.8% after rising 14% earlier in the morning. Insider reported that multiple sources told the publication that Vista was interested in […]
Exxon Shares Climb After Company Provides Updated Guidance
XOM Exxon shares jumped 2% in morning trading after the company said in a filing Tuesday evening that earnings could be higher than analysts’ projections. Furthermore, oil prices continued to rise due to a tight market and indications that OPEC+ could be readying a 2 million barrels a day cut. Exxon is the largest integrated […]
Tesla Shares Drop on Disappointing Deliveries – But Some Analysts See a Bright Spot
TSLA The largest electric vehicle manufacturer in the world, Tesla Inc, announced over the weekend that quarterly deliveries for the third quarter were 343,830 cars worldwide. Despite being an all-time high for the company, it missed the average analyst forecast of 358,110 cars. Additionally, the company announced that it would halt production in numerous plants […]
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