Dow rises after GDP data, but Amazon weakness caps Nasdaq gain
U.S. stocks rose on Friday, bolstered by a strong GDP reading, although mixed corporate results limited the day’s advance. A number of high profile companies reported earnings since Thursday’s close, and the results provided little in the way of a trend. Among energy companies, Chevron Corp CVX, +4.59% rallied while Exxon Mobil Cor..>> view originalSpending vs. profits: Amazon and investors at odds again
Amazon Inc may be a "buy" for the vast majority of analysts, but it was a "sell" for a lot of investors on Friday.Few of those investors would have been disappointed, though. While Amazon's stock was down 4.4 percent at $782 in early trading, it had risen 36 percent in the past six months alone.The trigger for the selling was the company's statement on Thursday that its operating income for the holiday shopping quarter would range from nothing to $1.25 billion, due to heavy investment across..>> view originalGE, Baker Hughes Partnership Would Be 'Very Disappointing:' More Squawk From Jim Cramer
NEW YORK (TheStreet) -- Digital industrial company General Electric (GE) has confirmed that it is in discussions with oilfield services provider Baker Hughes (BHI) about potential partnerships but not an "outright purchase" of the company. GE should ...>> view originalAutoNation to Sell its Own Parts, Add Used Car Centers
The largest auto dealership chain in the U.S. is expanding into stand-alone used car sales centers and will even sell its own automotive replacement parts. Oct. 28, 2016, at 11:33 a.m.. MORE. LinkedIn · StumbleUpon · Google +; Cancel. AutoNation to ...>> view originalBritish Airways Parent IAG Cuts Earnings Outlook
Updated Oct. 28, 2016 6:04 a.m. ET LONDON— British Airways parent International Consolidated Airlines Group SA Friday cut its earnings outlook further after third-quarter operating profit fell 3.6%, weighed down by the sharp drop in sterling after the U.K. voted to leave the European Union. Operating profit for the crucial July through September period was 1.21 billion euros ($1.32 billion), compared with €1.25 billion in the year-earlier quarter. The figure strips out some nono..>> view originalHere are dozen key products Amazon talked about on its earnings call
1) Retail — This is core Amazon, the products the company buys wholesale and delivers to you, the consumer, seven days a week in those ubiquitous cardboard boxes. 2) FBA — It stands for Fulfillment by Amazon. An increasing number of third-party sellers on Amazon's marketplace choose this option, which entails sending their products to Amazon's fulfillment centers across the globe. When the product gets ordered, it ships as quickly and efficiently as if Amazon were the merchant. Amazon i..>> view originalUS Economy Roars Back, Grew 2.9% in Third Quarter
Updated Oct. 28, 2016 10:21 a.m. ET WASHINGTON—U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion. Gross domestic product, a broad measure of goods and services produced across the economy, expanded at an inflation- and seasonally adjusted 2.9% annual rate in the third quarter, the Commerce Department said Friday. That was stronger growth than the second quarter’s pace of 1.4%..>> view originalWall Street broker-dealer profits in 2016 to exceed last year's: watchdog
Wall Street broker-dealer profits for the full year are on track to surpass that of 2015 and could end three years of consecutive declines in the industry, according to a report on Friday by New York state Comptroller Thomas DiNapoli. That full-year performance is likely even though profits of $9.3 billion in the first half of 2016 are down 18 percent from a year ago, the New York financial watchdog said.Since March, job growth has slowed in the securities industry in New York City. In August,..>> view originalUber loses employment tribunal in the UK
Uber drivers are workers rather than self-employed contractors, according to a ruling by an employment tribunal in the UK. It’s a landmark win for workers’ rights in the so-called gig economy where platform giants have sought to minimize costs by classifying the large numbers of people needed to operate their services as self-employed. The tribunal’s ruling means Uber drivers in the UK will be entitled to holiday pay, paid rest breaks and the National Minimum Wage. Although Uber has said it wi..>> view originalExxon Warns on Reserves as it Posts Lower Profit
Updated Oct. 28, 2016 9:14 a.m. ET Exxon Mobil Corp., under investigation for how it values its oil and gas wells, on Friday said it may be forced to recognize that nearly one fifth of its reserves are no longer profitable to produce, a sign of the toll that low prices are taking on the giants of the energy industry. The disclosure came as the as the largest publicly traded oil producer reported a 38% decline in quarterly profit, the company’s eighth straight quarter of year-o..>> view original
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