Author: Press Room
By Chavi Mehta (Reuters) -IBM Corp beat Wall Street expectations for first-quarter profit on Wednesday and signaled demand for IT services was better than feared, sending shares up 3.5% after the bell. The company’s software and consulting businesses rose 6% and 8.2%, respectively, at constant currency in the first quarter, in line with IBM (NYSE:)’s targets. Big Blue also reiterated its full-year free cash flow forecast of $10.5 billion. “Investors blew a sigh of relief that IBM’s quarterly update was better than feared,” said Jesse Cohen, senior analyst at Investing.com. The IT industry is facing a slowdown after a post-pandemic…
According to NextEarningsDate.com, the Amazon.com AMZN next earnings date is projected to be 4/27 after the close, with earnings estimates of $0.22/share on $124.48 Billion of revenue. Looking back, the recent Amazon.com earnings history looks like this: The company has an impressive long-term earnings per share chart: And with equally impressive revenue growth: But earnings reports can often uniquely bring abrupt volatility to a stock, in either direction, as investors digest the fundamental details. And that volatility can be a stock options trader’s dream come true — so such traders will be interested to know that Amazon.com has options available…
California is well-known for being home to some of the wealthiest cities in the United States. In fact, zip codes in California dominate the annual lists of the most expensive cities to live in. These cities are scattered throughout California, from the Bay Area to Orange County to Los Angeles, and each offers a unique blend of luxury, culture, and opportunity. From the stunning mansions of Beverly Hills to the tech hubs of Silicon Valley, the top 50 richest cities in California are a testament to the state’s economic prowess and its ability to attract the best and brightest from…
The $787 million settlement by Fox FOXA News and Fox Corporation to resolve the Dominion defamation suit made big news, but the tax news that this is a deductible business expense to Fox should be no surprise. It appeared that Fox was likely to lose the defamation suit, and likely would have had to pay much more in a verdict. That made the settlement a good business move. Some sources are expressing shock that this kind of liability could be a legitimate business expense. Compensatory settlements by businesses are clearly deductible if they arise out of the business being conducted.…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases have risen for three key terms, while one term fell since yesterday. Rates last updated on April 20, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000 Trustpilot…
U.S. existing home sales resumed their downward spiral in March as a sharp jump in mortgage rates cooled consumer demand. Sales of previously owned homes tumbled 2.4% in March from the prior month to an annual rate of 4.4 million units, according to new data released Thursday by the National Association of Realtors (NAR). On an annual basis, existing home sales are down 22% when compared with March 2022. “Home sales are trying to recover and are highly sensitive to changes in mortgage rates,” said Lawrence Yun, NAR chief economist. “Yet, at the same time, multiple offers on starter homes are…
BuzzFeed will lay off 15% of staff and shut down its news unit, BuzzFeed CEO Jonah Peretti wrote in an email to staff Thursday.The layoffs will affect BuzzFeed’s business, content, administration and tech teams. The layoffs amount to about 180 people. The company’s staff totaled about 1,200 people as of its most recent securities filing.related investing newsBuzzFeed News, part of the digital media company’s content division, had about 100 employees and lost about $10 million a year, two people familiar with the matter told CNBC last year. It stood apart from the main, viral-content-generating BuzzFeed brand with straight news and…
When it comes to making business decisions, Taylor Swift does her due diligence all too well.In 2021, the pop superstar was approached by the now-bankrupt crypto exchange FTX about a $100 million sponsorship deal that would have involved selling tickets as non-fungible tokens (NFTs) to her fans, according to the Financial Times.However, it never materialized.Before inking the deal, Swift asked FTX representatives a simple question: “Can you tell me that these are not unregistered securities?” Adam Moskowitz, one of the attorneys leading a class-action lawsuit against FTX’s celebrity endorsers, said during an episode of “The Scoop” podcast.Moskowitz’s lawsuit is seeking…
Late last year, Facebook-parent Meta quietly phased out certain content labels on its platforms that for much of the pandemic had directed viewers to its central Covid-19 information page, after internal research concluded the labels may be ineffective at changing attitudes or stopping the spread of misinformation, according to a report Thursday by the company’s external oversight board. Facebook rolled out the labels in early 2021, after coming under criticism for the spread of Covid-19 misinformation on its platforms during the first year of the pandemic. The company applied the labels to a wide range of claims both true and…
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