By Hannah Lang (Reuters) -Cryptocurrency exchange Coinbase on Thursday beat estimates for third-quarter revenue, but saw trading volumes decline for the second quarter in a row, sending shares of the company down in after-hours trading. Trading volumes at the crypto exchange in the third quarter came in at $11 billion, compared with $26 billion a…
(Reuters) – American Eagle Outfitters Inc reported a loss for the second quarter on Wednesday and said it would pause quarterly dividend as it strives to tide through lower demand due to inflation, sending its shares down 14% after market. With the United States on the edge of a recession, and prices of food and…
By Carolina Mandl NEW YORK (Reuters) – Nvidia Corp’s debut in the club of U.S. companies valued at $1 trillion on Tuesday may have given a boost to a number of portfolio managers who bought in to the stock, according to data revealed in first-quarter hedge fund filings, such as Australia listed boutique investment firm…
By Shreyashi Sanyal and Amruta Khandekar (Reuters) – Nasdaq futures rose on Friday, after Netflix kicked off the earnings season for the growth sector on a positive note, but worries about a U.S. recession kept a lid on sentiment. Shares of Netflix Inc jumped 6.6% in premarket trading, after the streaming company added more subscribers…
By David Shepardson WASHINGTON (Reuters) – AT&T and Verizon Communications on Tuesday agreed to temporarily defer turning on some wireless towers near key airports to avert a significant disruption to U.S. flights. President Joe Biden hailed the agreement, saying it “will avoid potentially devastating disruptions to passenger travel, cargo operations, and our economic recovery, while…
By Kirsty Needham SYDNEY (Reuters) -Australia’s Prime Minister Anthony Albanese said he was confident a deal for the U.S. to sell nuclear powered submarines to Australia was on track, ahead of talks between defence and foreign ministers of the two countries on Friday. Twenty-five U.S. Republican lawmakers told President Joe Biden on Thursday the plan…
(Corrects analyst’s name in paragraph 8) (Reuters) – Shares of Roku Inc fell more than 20% in extended trading on Wednesday after the streaming platform forecast holiday-quarter revenue below Wall Street estimates as ad spending dries up. Record-high inflation and global geopolitical uncertainty from the war in Ukraine and U.S.-China tensions have led companies to…
By Erwin Seba HOUSTON (Reuters) – Oil prices gained on Monday as European diesel demand, constrained by Russian sanctions and shipping disruptions, pulled prices higher in a market jittery with U.S. refinery output limited by planned overhauls, analysts said. Brent crude futures settled with a gain of 91 cents, or 1.11%, at $82.53 a barrel….
WASHINGTON (AP) — Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending August 13 fell by 2,000 to 250,000, the Labor Department reported Thursday. Last week’s number, which raised…
By Kate Abnett BRUSSELS (Reuters) – Officials and lawmakers negotiating an overhaul of the EU carbon market are struggling to reach a compromise over plans to levy CO2 costs on suppliers of polluting fuels, potentially putting the bloc’s climate change targets at risk. Launched in 2005, the emissions trading system (ETS) is the European Union’s…
