IBM Stock Slide on Lower-than-Expected Fourth Quarter Revenues
IBM stock fell as much as 7% in extended trading on Wednesday. The decline occurred after the company reported revenues of $20.37 billion in the fourth quarter, less than expected…
Intel Revenue Tops Guidance in Fourth Quarter. Full-Year Revenue Hits All-Time High
Intel delivered fourth-quarter revenue of $20.0 billion or $1.42 earnings per share, exceeding October’s guidance of $2.6 billion, according to the company’s press release. Full-year revenue set an all-time record…
U.K PM Warns Against Easing of Restrictions, Third Lockdown May go Into Summer
U.K Prime Minister Boris Johnson and Home Secretary Priti Patel did not rule out that the new lockdown will last into the summer, according to Bloomberg. The government stressed reinforcing…
MediaTek Takes No. 1 Spot in Chip Market as Qualcomm’s Plunges on Huawei Sanctions
Qualcomm’s market share of China’s smartphone chip market fell to 25.4% in 2020 from 37.9% in 2019 while shipments shrank 48.1%, according to CNBC. The so-called system on chips (SOC)…
Joe Biden’s Inauguration as the 46th U.S President
Joseph Robinette Biden Jr. was sworn in as the 46th U.S president to end days of daunting power transfer in recent American history, reports CNBC. Biden declared, “Democracy has prevailed”…
P&G Raises Forecast after Earnings Top Expectations, Sales Jump 8%
Procter & Gamble expects sales growth of 5% to 6% in fiscal 2021, up from an initial outlook of 3% to 4%, according to the company's press release. Sales rose…
Morgan Stanley Profit Surpasses Estimates on Trading Strength
Morgan Stanley recorded a net income of $3.27 billion or $1.81 per share in the quarter ended December 31, according to the company’s press release. The earnings beat analysts’ estimate…
China’s ETF Overtakes BlackRock Fund as Investors Avoid Sanctions
China Asset Management Ltd.’s CSI 300 Index ETF grew to $2.7 billion in assets as of Tuesday, according to Bloomberg. The value surpasses BlackRock’s iShares fund tracking the FTSE A50…
Kia Stock Soars after Reports Linking it With Manufacture of Apple’s EV
Kia Corp. shares rose as much as 20% on Wednesday after Korean Outlet eDaily said it would make Apple Inc.'s electric cars, Korean media eDaily reports. The reports allege Hyundai…
Yellen Urges Lawmakers to ‘Act Big’ to Save the Economy, Worry About Debts Later
Biden's New Treasury secretary nominee Janet Yellen urged lawmakers on Tuesday to 'act big" on coronavirus relief spending, reports Reuters. Yellen says the economic benefits of higher spending outweigh the…
Halliburton Signals Oil Recovery after Profit Beat
Halliburton Co. said on Tuesday it expects global oil and gas industry recovery from the second quarter. Estimates came after the oilfield services provider reported total revenues of $3.24 billion,…
Cruise, GM Partner with Microsoft to Commercialize Self-Driving Vehicles
Self-driving carmaker Cruise and General Motors will partner with Microsoft Corp to commercialize driverless vehicles, according to Yahoo!finance. Microsoft will join GM, Honda Motor Co, and institutional investors in a…
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