News

The Economy

Starbucks Changing Format of Business District Stores

CEO Kevin Johnson says store traffic is down in central business districts but up in the suburbs.

Source: Benzinga
October 30, 2020
Financial Performance

Exxon Posts $680M Loss as Oil Slump Continues

The company disclosed that further capital spending cuts and possible writedowns of assets are ahead as it battles the pandemic-induced oil bust.
M&A

Under Armour to Sell MyFitnessPal for $345M

The fitness giant paid $475 million for the app in 2015.
Social Media

Twitter Shares Fall on Slowing User Growth in Q3

Twitter beat estimates on the top and bottom lines but daily active user growth of only 1 million disappointed investors.
M&A

LVMH, Tiffany Reach New Agreement On Merger

Tiffany is accepting a $400 million discount after LVMH threatened to abandon the deal.
Financial Performance

Visa Beats Estimates as Travel Slump Continues

“The recovery so far has been uneven, V-shaped for domestic volumes but L-shaped for cross-border volumes,” CFO Vasant Prahbhu says.
Financial Performance

Boeing Posts $466M Loss, Announces Job Cuts

The company is battling reduced demand amid the COVID-19 pandemic, with commercial aircraft sales down 56% in Q3.
The Economy

U.S. GDP Surges by Record 33.1% in Q3

Economists are sticking to estimates of only 4% growth in the fourth quarter and a prolonged recovery from the coronavirus recession.
Regulation

Tech Execs Face Questions on Immunity Law

The heads of Facebook, Twitter, and Google said changes to Section 230 could change how they moderate content.
The Cloud

Cloud Growth Drives Microsoft Earnings Beat

Microsoft has benefited from businesses accelerating the shift to cloud infrastructure and applications due to the COVID-19 pandemic.
Financial Performance

HSBC Beats Estimates, May Resume Dividend

“These were promising results against a backdrop of the continuing impacts of COVID-19 on the global economy."
Applications

AMD to Buy Xilinx for $35B

The semiconductor manufacturer also reported earnings beat expectations.
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