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FINANCIAL NEWS
Spotify boost subscriber growth, shares plunge on margin warning

Though Spotify Technology SA on Tuesday said third-quarter profit margins might narrow because of programming costs, the music-streaming giant posted a better-than-expected rise in revenue and users despite market headwinds.

Snap plunges over 26% on weak sales growth and quarterly revenue miss

Shares of Snap plunged over 26% in after-hours trading Thursday after posting a further slowdown in sales growth and signaling the digital-ad market could remain lackluster for some time in a disappointing third-quarter report.

Tech stocks weigh on US futures after disappointing quarterly results

US equity futures fell after post-market slumps in mega-cap technology shares dampened the mood of a three-day rally on Wall Street and raised new doubts about whether this year's $5.5 trillion selloff is nearing the bottom.

Shares of Alibaba and other Chinese tech stocks plunge as Xi retains control

After President Xi Jinping was confirmed to a historic third term as leader of the world's second-largest economy, shares of US-listed Chinese stocks tumbled in premarket trading Monday.

Verizon stumbles on subscriber growth amid higher prices

On Friday, Verizon Communications Inc. reported it lost 189,000 monthly bill-paying phone subscribers in its consumer business and added fewer-than-expected wireless subscribers in the third quarter.

3 Market movers in the latest round of earnings reports

Tesla Shares Fall on Sales Miss and troublesome quarter, while IBM and P&G sales beat estimates, sending shares up on the news. Here's what you need to know in today's markets:

United Airlines gains on profit forecast as strong travel demand continues

With consumer appetite for travel showing no signs of slowing down despite a run-up in ticket prices, United Airlines said Tuesday it expects its operating profit margin to surpass pre-pandemic levels in the final quarter of 2022.

Intel's Mobileye plans to offer 41 Million shares in IPO

According to a prospectus filed with the SEC, Intel Corp's Mobileye said it plans to offer 41 million class A shares at a projected price of $18 to $21 per share of its initial public offering.

Goldman Sachs could announce major reorganization to combine businesses

Goldman Sach, which is expected to announce the changes on October 18, plans to combine its biggest businesses into three divisions, with its storied investment banking and trading businesses merged into a single unit.

Kroger announces $24.6 billion deal to compete with rival Walmart

After eyeing the retail chain for a while, grocery giant Kroger Co. agreed last week to buy Albertsons for $34.10 per share in a deal valued at $24.6 billion.

Beyond Meat announces another round of job cuts, shares plunge

In a strategic shift to achieve more sustainable growth, plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August.

Intel could cut thousands of jobs as demand for PC processors slows

According to a Bloomberg News report Tuesday, Intel corp is looking to make significant job cuts in the coming period, citing people with knowledge on the matter.

PepsiCo shares climb on resilient demand despite fresh price increases

PepsiCo on Wednesday got a lift from an upbeat sales outlook and profit on the back of fresh price increases for its sodas and snacks to fight rising costs while signaling resilient demand.

Rivian shares fall sharply after recalling 13,000 of its electric vehicles

Shares of Rivian fell sharply Monday after the California-based company said it would recall nearly all of its vehicles.

Following widespread criticism, PayPal backtracks policy that fines users $2,500

Paypal Holdings Inc. walked back on a published policy over the weekend that foresaw fining users $2,500 for spreading misinformation.

Denbury shares climb on talks of Exxon Mobil takeover, Bloomberg

Shares of Denbury soared to an all-time intraday high, climbing as much as 12% on Monday after Bloomberg reported Exxon Mobil was considering a takeover of the oil-recovery specialist.

A statement from Peloton CEO calls for another 500 job cuts

Peloton Interactive Inc.'s chief executive said it plans to cut about 500 jobs in a move that should position the struggling fitness equipment maker to return to growth

Mastercard launches new fraud protection tool to assess crypto exchanges

Mastercard on Tuesday launched a new piece of software that helps banks identify and cut off crypto exchanges prone to fraudulent transactions.

Greg Abel, Buffett's likely successor buys Berkshire stock worth $68 million

Vice Chairman and next in line to succeed Warren Buffett as Berkshire Hathaway Inc.'s Chief Executive, Greg Abel, spent more than $68 million on the conglomerate's shares last week.

Nike shares pushed lower by high inventory levels ahead of holiday season

Nike on Thursday said after two years of not having enough inventory, the athletic apparel company now has too much and taking aggressive steps to lower them.

Bond prices on the rise, sending stocks higher at close of trade

The US stock market ended a week of heavy losses on a positive note Wednesday after bond yields tumbled and left stocks looking more attractive to investors.

Netflix stock surges on Wall Street upgrade and latest blockbuster

Responding to a Wall Street upgrade and news of a new blockbuster hit, Netflix stock rose 7.1% on Wednesday.

3 Things to know in this week's markets

Heading into this week's markets, JPMorgan analysts drop COIN price target for December, while Amazon plans a second Prime Day for the first time in one year. Elsewhere, General Motors Co said on Friday it will invest $760 million at its Toledo, Ohio factory to build drive units for electric trucks.

Salesforce introduces new profitability goal alongside host of new products

The enterprise software maker, Salesforce, announced a new long-range profitability goal that showed the company's determination to operate more efficiently. At the Dreamforce conference Wednesday, Salesforce introduced a host of new products, including "Genie" and "Slack Canvas."

FedEx announces unpleasant quarterly results, shares drop most in 40 years

Last week, FedEx surprised investors by announcing its quarterly results sooner than expected, which quickly turned out to be unpleasant. The shipping giant withdrew its full-year guidance and warned its fiscal first quarter would come in well below expectation.

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