Stocks rise, Nasdaq outperforms as strong earnings offset economic fears
Stocks were mixed Friday, with the S&P 500 and Dow down as energy companies sold off after Exxon Mobil (XOM) and Chevron’s (CVX) grim quarterly results. The Nasdaq held in positive results after a slew of better than expected corporate earnings…
Apple Q3 Results Blitz Forecasts As Tech Giant Sets 4-For-1 Stock Split
Apple demolished Wall Street forecasts in its fiscal third quarter, delivering revenue of $59.7 billion and earnings per diluted share of $2.58 billion. Analysts’ consensus was for revenue of $52.25 billion, which would have been a slight dip from the…
Australia to Put Tech Giants on Tighter Leash, Make Them Pay for News
Australia is getting closer to moving ahead with controversial legislation that will make the U.S. tech giants pay local companies for news. Other measures to contain their influence are also on the cards. The “Draft Mandatory Code of Conduct Governing…
Tech Leads Stock Rebound From Lows Amid Earnings: Markets Wrap
(Bloomberg) — A rally in big technology companies lifted stocks from Thursday’s lows, tempering concern over a bumpy economic rebound. Apple Inc., Amazon.com Inc., Alphabet Inc. and Facebook Inc. jumped in extended trading as results crushed Wall…
Big Tech Still Winning in Economic Crisis
Millions might have consented to stay at home this spring in the interest of social distancing, but they certainly didn’t log off. Even though economic activity fell at a heart-stopping annual rate of 32.9 percent in the second quarter, which started in…
Australia to make Facebook, Google pay for news in world first
By Colin Packham SYDNEY (Reuters) – Australia will force U.S. tech giants Facebook Inc and Alphabet Inc’s Google to pay Australian media outlets for news content in a landmark move to protect independent journalism that will be watched around the…
Nasdaq’s $4 Trillion Rally Poised to Heat Up on Tech Earnings Sweep
(Bloomberg) — The already blistering rally in U.S. technology companies is about to intensify after earnings from the biggest purveyors of internet services and smartphones blew past estimates. Exchange-traded funds tracking the Nasdaq 100 jumped…
Big Tech Earnings Surge During Pandemic While the Economy Slumps
(Bloomberg) — The largest U.S. technology companies are thriving in a pandemic that has increased dependence on their products and services, while hammering much of the rest of the economy.Quarterly results from Apple Inc., Amazon.com Inc.,…
Tech Lifts U.S. Stock Futures; Dollar Extends Drop: Markets Wrap
(Bloomberg) — U.S. equity futures climbed after stellar earnings from technology giants, while the dollar extended this month’s slide amid renewed concern about the strength of the American recovery. Asian shares retreated. S&P 500 and Nasdaq…
Australia unveils law forcing tech giants to pay for news
Australia unveiled a draft law Friday to force Google and Facebook to pay news media for their content in a “world-leading” initiative sure to prompt a confrontation with the US digital giants. Treasurer Josh Frydenberg announced the…