Business

Amazon earnings weighed down by falling sales and high costs

Amazon recorded its slowest-ever revenue growth in the first quarter amid a drop in online retail sales and heavy costs, and said its aggressive push to expand during the coronavirus pandemic had left it overstaffed and with excess capacity. Sales at Amazon’s online stores segment came in at $51.1bn in the January-March period, down from …

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Apple Says Covid-19 Lockdowns in China Loom Over Sales

Apple Inc. AAPL 4.52% cautioned Thursday that the resurgence of Covid-19 in China threatens to hinder sales by as much as $8 billion in the current quarter—a setback after seeing supply-chain improvements during the first three months of the year. The guidance from the iPhone maker came Thursday shortly after the company posted one of …

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Intel stock declines as chip maker doubles down on outlook despite headwinds

Intel Corp. shares declined in the extended session Thursday after the chip maker held onto its full-year outlook amid expected weakness this quarter, forecasting a surge in sales from its major businesses in the second half of the year. Intel INTC, +3.58% shares fell 4% after hours, following a 3.6% gain in the regular session …

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Patients Taking Experimental Obesity Drug Lost More Than 50 Pounds, Maker Claims

An experimental drug has enabled people with obesity or who are overweight to lose about 22.5 percent of their body weight, about 52 pounds on average, in a large trial, the drug’s maker announced on Thursday. The company, Eli Lilly, has not yet submitted the data for publication in a peer-reviewed medical journal or presented …

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16 States Are Suing the US Postal Service

What if… all of these were electric vehicles?Photo: AP/STRF/STAR MAX/IPx (AP) The U.S. Postal Service won’t give up gas without a fight, and now it’s getting one. California Attorney General, Rob Bonta, is leading the charge. He filed a lawsuit today against USPS over the postal service’s plans to replace about 165,000 aging, fossil-fuel-powered delivery …

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Market Bounces, But For How Long? Futures Fall On Apple, Amazon

Market Bounces, But For How Long? Futures Fall On Apple, Amazon

Dow Jones futures fell slightly overnight, while S&P 500 futures and Nasdaq futures fell sharply, as Apple (AAPL) and Amazon stock led key earnings late Thursday, with Exxon Mobil (XOM) and Chevron (CVX) due early Friday. X The stock market rally attempt gained steam as Facebook parent Meta Platforms (FB) surged and a number of …

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Stocks making the biggest moves midday: Meta, McDonald’s, Teladoc, Ford and more

Pavlo Gonchar | LightRocket | Getty Images Check out the companies making headlines in midday trading. Meta Platforms — Shares of the company formerly known as Facebook surged 17% after reporting mixed first-quarter results. The company posted a beat in earnings but a disappointing revenue miss. It also saw daily active users grow following a decline …

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Tech Stocks Rise Ahead of Apple, Amazon Earnings

Technology stocks bounced higher Thursday, led by Meta Platforms, as investors cheered the company’s solid earnings report that showed resilience in the face of rising inflation. The Facebook FB 16.70% owner’s stock rose 17% after the company said it had added more users than investors expected in the first quarter. That gain helped send the …

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