Month: January 2021

Apple CEO Tim Cook reveals the new iPhone 12. Source Apple delivered its largest quarter by revenue of all time on Wednesday at $111.4 billion in its first-quarter earnings report for fiscal 2021. It’s the first time Apple crossed the symbolic $100 billion mark in a single quarter, and sales were up 21% year-over-year.   Apple stock declined less than a percent in
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Bill Gates was “very surprised” when he and Dr. Anthony Fauci became the targets of “crazy” and “evil” conspiracy theories related to the ongoing coronavirus pandemic, Gates told Reuters on Wednesday. The billionaire Microsoft co-founder and White House advisor Fauci, the nation’s top infectious diseases expert, have been frequent targets for baseless coronavirus conspiracy theories,
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The wild trading involving GameStop shares presents a broader threat to the U.S. equity market, the chief securities regulator in Massachusetts told CNBC on Wednesday. “The marketplace should be a place where risk is taken, but not reckless risk and not a situation that undermines the system and that’s what we’re looking at here,” Massachusetts
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Ariana Drehsler | AFP | Getty Images A shift in federal health-care policy appears to be underway. As early as Thursday, President Joe Biden is expected to issue executive orders to temporarily reopen the health insurance exchanges and to address roadblocks encountered when low-income households try to access Medicaid. Although details are slim, the actions
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The U.S. Department of Health and Human Services building in Washington. Caroline Brehman | CQ-Roll Call, Inc. | Getty Images Federal officials at the Department of Health and Human Services raided funds from a little-known agency intended for vaccine research and emergency preparedness, spending millions to move furniture and pay unrelated salaries, according to a
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Signage stands in a GameStop Corp. store in Peru, Illinois. Daniel Acker | Bloomberg | Getty Images It’s the stock rally no one quite predicted. In recent years, GameStop, a video game retailer, has been shrinking its retail presence by closing hundreds of stores. Yet this week, its stock popped dramatically. On Wednesday, GameStop shares
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The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero until the economic recovery gains ground.  As the federal government rolls out a mass vaccination plan and weighs additional stimulus in the midst of the coronavirus crisis, the central bank is keeping its commitment to help everyday Americans through the pandemic. That means rock-bottom rates will
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Pedestrians wearing protective masks carry shopping bags in San Francisco, California, on Wednesday, Dec. 23, 2020. David Paul Morris | Bloomberg | Getty Images As millions of Americans wait their turn to receive the Covid-19 vaccine, many say they won’t be rushing back to retailers’ stores to shop for clothes and shoes after the immunization,
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Pascal Soriot, chief executive officer of AstraZeneca. Simon Dawson | Bloomberg | Getty Images AstraZeneca‘s CEO Pascal Soriot has defended its delayed rollout of the coronavirus vaccine to the EU, saying the drugmaker is “working 24/7” to fix production issues. He also noted that the EU had ordered three months later than the U.K., however,
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An International truck is parked in front of a Navistar facility on April 17, 2019 in Melrose Park, Illinois. Scott Olson | Getty Images DETROIT ’ General Motors will supply Navistar International with fuel-cell electric vehicle technology for a new semitruck, adding to the automaker’s growing tie-ups in the emerging market. The companies are billing
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A shopper wearing a protective mask walks past a sale sign at an American Eagle Outfitters Inc. clothing store at Westfield San Francisco Centre in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images American Eagle ahead of a virtual meeting with investors Thursday said it expects fourth-quarter
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Intel CEO Robert “Bob” Swan announces the chip group’s new microprocessors called “Tiger Lake” at the technology fair CES in Las Vegas on Jan. 7, 2020. Christoph Dernbach | picture alliance | Getty Images On Thursday, financial wires published details of Intel’s fourth-quarter earnings results minutes ahead of the markets closing at 4 p.m., when
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Bob Swan, then-interim chief executive officer and chief financial officer of Intel Corp., reacts during the inauguration of the company’s research and development facility in Bengaluru, India, on November 15, 2019. Samyukta Lakshmi | Bloomberg | Getty Images Intel stock rose more than 6% on Thursday as the chipmaker reported earnings and revenue that exceeded
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SVP and Director at IBM Research Arvind Krishna speaks on stage during the 2019 Wired Business Conference in New York on June 16, 2019. Brian Ach | Getty Images IBM shares moved 4% lower in extended trading on Wednesday after the company reported fourth-quarter revenue that fell short of analysts’ expectations. Here’s how IBM performed:
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Johnson & Johnson Coronavirus vaccine illustration Dado Ruvic | Reuters Johnson & Johnson on Tuesday reported fourth-quarter earnings and revenue that beat Wall Street’s expectations. Here’s how J&J did compared with what Wall Street expected, according to average estimates compiled by Refinitiv: Adjusted EPS: $1.86 per share versus $1.82 expected. Revenue: $22.48 billion versus $21.67 billion
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Lisa Su, president and chief executive officer of Advanced Micro Devices (AMD), holds a 3rd generation Ryzen desktop processor while speaking during a keynote session at the 2019 Consumer Electronics Show (CES) in Las Vegas, Jan. 9, 2019. David Paul Morris | Bloomberg | Getty Images AMD stock was flat in extended trading after the
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Kevin Johnson, CEO, Starbucks Scott Mlyn | CNBC Starbucks is expected to report its fiscal first-quarter earnings after the bell Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 55 cents expected Revenue: $6.93 billion expected At the coffee giant’s investor day in December, CFO Pat Grismer reiterated the company’s
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