Business

Facebook‘s stock is on track to suffer its worst day in six years as a public company after it reported a revenue miss and disappointing daily active user count Wednesday. Shares opened nearly 20 percent lower Thursday, turning negative on the year. The stock fell to a session low of $174.78 in the first 15
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Shares of Mattel plummeted more than 8 percent after the company disclosed that it would be cutting 2,200 jobs on Wednesday. The company said this reduction represents 22 percent of its global non-manufacturing workforce. The toy company had announced a cost savings program in October, with the goal of eliminating $650 million in costs over
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Milligan will also step down from the company’s board at the end of the year. Additionally, John Martin, chairman of the board, said he would depart once a new CEO is named. Also on Wednesday, Gilead reported a lower quarterly profit, as sales of its hepatitis C drugs continued to slide due to price competition
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Check out the companies making headlines before the bell: Coca-Cola – The beverage giant reported adjusted quarterly profit of 61 cents per share, 1 cent a share above estimates. Revenue also came in above forecasts. Global organic revenue growth did beat estimates, although North America saw an unexpected decline. General Motors – The automaker earned
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Despite all of the positive variables in the economy right now — including this year’s huge earnings growth and high consumer confidence and spending — Dwyer said investors should be cautious about entering the market at this moment, because the near-term view “stinks right now.” “We’re overbought in a market where only 52 percent of
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Scott Eells | Bloomberg | Getty Images A vacuuming Roomba model robot is displayed at iRobot headquarters in Bedford, Massachusetts,   Roomba-maker iRobot soared after the company posted second-quarter earnings Tuesday that easily topped Wall Street expectations. The stock surged 20 percent in after-hours trading. Here’s what the company reported compared with analyst estimates: Adjusted earnings
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Check out the companies making headlines before the bell: Hasbro – The toy maker earned 48 cents per share for the second quarter, well above the consensus estimate of 29 cents. Revenue was also well above estimates. The performance came despite a drop in profit and revenue from a year ago due largely to the
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Tech regulation was back in the spotlight last week after European Union regulators fined Google a record 4.34 billion euro (about $5 billion) for breaching the bloc’s antitrust rules. According to EU officials, Google abused the popularity of its Android operating system by making phone manufacturers pre-install Google apps, such as Chrome and Search. The
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“We’re not seeing any end to viral sharing and the currency that that brings to the world,” said Matt Statman, CEO and chief creative officer of Motive, a creative ad agency. Statman also pointed out that there’s an exclusivity factor. “It’s about being first to get in,” he said. “And then, once you do that,
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The power business is the company’s number one focus for the remainder of 2018, CFO Jamie Miller told CNBC after the report, reiterating Flannery’s comments on the call. “Clearly our top priority is fixing the problems in the power business,” Flannery said. Power reported orders of of $7.4 billion, down 26 percent from a year
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Check out the companies making headlines before the bell: General Electric – GE reported adjusted second quarter profit of 19 cents per share, 2 cents a share above estimates. Revenue also came in above consensus. GE said it saw particular strength in its aviation and health-care businesses during the quarter. Honeywell – The industrial conglomerate
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High school isn’t your typical breeding ground for entrepreneurship. Strict timetables, generic lesson plans and constant assessments are, for many, more likely to inspire boredom than the next great business idea. But for Richard Lorenzen, who founded his business in the 10th grade, it was a different story. Only, his wasn’t a typical schooling experience:
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Shares of footwear maker Skechers tumbled more than 20 percent in aftermarket trading on Thursday after the company reported disappointing quarterly results and forecast a weak outlook for the third quarter. The company reported earnings per share of 29 cents, well short of the 41 cents expected by analysts. Revenue of $1.12 billion was up
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Check out the companies making headlines before the bell: Travelers – The insurance company posted quarterly profit of $1.81 per share, well below the consensus estimate of $2.42 a share. Revenue was above forecasts, but the results were heavily impact by significant catastrophe losses, much of it weather-related. IBM – IBM reported adjusted quarterly profit
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