Business
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Mastercard earnings get a boost from travel spending, and CFO says the rebound still has legs
Mastercard Inc. topped profit and revenue expectations for its latest quarter, with its chief executive calling out “resilient consumer spending.” Gross dollar volume was up 15% in the first quarter, while cross-border volume grew 35%. Mastercard MA saw a 12% rise in switched transactions. Shares of Mastercard were up 1% in Thursday afternoon… Source
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Eli Lilly’s next-generation obesity drug helped patients lose up to 34 pounds in clinical trial
Eli Lilly on Thursday released new data showing strong results for a widely anticipated obesity treatment. Adults with obesity or overweight and type 2 diabetes who took tirzepatide during a late-stage clinical trial lost up to 15.7% of their body weight, or about 34.4 pounds, Lilly LLY, +3.74% said. More than 80% of people taking…
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Dow jumps over 400 points as stocks rally after earnings from Meta and other big-tech names
U.S. stocks rose sharply on Thursday, with the S&P 500 on track for its biggest daily gain in over a month, as another batch of strong big-tech earnings reports helped boost the broader market while offsetting signs of slowing economic growth. How are stocks trading Stocks fell Wednesday, as worries about First Republic Bank FRC…
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Should you be worried about China and Taiwan in your emerging-markets fund?
I don’t want an emerging-markets index fund in my portfolio, and I don’t care who knows it. There’s nothing intrinsically wrong with investing in emerging markets. (A new research paper from the number crunchers at hedge-fund company AQR argue that they look like a great investment right now — more on that in a moment.)…
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Netflix loses over a million users in Spain after password-sharing crackdown
De ninguna manera. That’s Spanish for “no way,” which was the response of more than a million subscribers in Spain who dumped their Netflix accounts in the first three months of the year after the streaming giant cracked down on password sharing. That’s according to a new study from the marketing data and analytics company…
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Dow ends down 220 points as First Republic worries overshadow upbeat Big Tech earnings
U.S. stocks ended mostly lower on Wednesday as robust earnings from big tech companies boosted the Nasdaq Composite, but concerns about First Republic Bank weighed on the broader market after the San Francisco-based lender revealed an exodus of deposits in March in the aftermath of Silicon Valley Bank collapse. How stocks traded On Tuesday, the…
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Boeing’s stock gets a boost from revenue and free-cash-flow beats and from production outlook
Boeing Co.’s stock rose more than 3% Wednesday after the aerospace and defense giant reported a wider-than-expected loss that was offset by revenue and free cash flow that beat forecasts. The company also kept its production outlook despite recent problems with its 737 Max jets. “We are progressing through recent supply-chain disruptions but remain confident…
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Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earnings
A small group of technology giants have fueled U.S. stock-market gains this year, creating high anticipation for their soon-to-be-released earnings reports. “There is a lot riding on Big Tech earnings this week, and the names reporting have a near term track record of delivering disappointing results,” said Nicholas Colas, co-founder of DataTrek Research, in a…
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Intel is expected to post its biggest loss on record. Has the chip maker finally hit rock bottom?
Intel Corp. is expected to post its worst quarterly loss on record Thursday, and analysts are hoping it is rock bottom for the struggling chip maker. Intel INTC is scheduled to report earnings after the close of markets on Thursday, and analysts on average expect the Silicon Valley giant to report a loss of more…
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U.S. stocks close lower, Nasdaq ends at lowest in almost a month as investors digest earnings
U.S. stocks closed lower on Tuesday as investors digested a mixed picture of corporate earnings along with data suggesting a slowing economy and a consumer that’s under pressure from inflation. How stocks traded On Monday, the Dow Jones Industrial Average rose 66 points, or 0.2%, to 33875, the S&P 500 increased 4 points, or 0.09%,…