Snap misses quarterly revenue estimates, shares sink
Snap Inc missed Wall Street estimates for fourth quarter revenue on Tuesday as it faced tough competition from digital advertising giants Google and Facebook, sending its shares down 12%.
Snap Inc missed Wall Street estimates for fourth quarter revenue on Tuesday as it faced tough competition from digital advertising giants Google and Facebook, sending its shares down 12%.
State attorneys general investigating Alphabet Inc's Google unit met on Tuesday with U.S. Justice Department officials to coordinate efforts to probe the search and advertising giant, officials told Reuters.
Macy's Inc said on Tuesday it plans to close 125 of its least productive stores over the next three years and cut more than 2,000 corporate jobs as a part of its cost savings effort.
Ford Motor Co on Tuesday posted a fourth-quarter loss and provided a weaker-than-expected 2020 forecast due to continued higher warranty costs, investments in future transportation and lower results from Ford Credit, sending shares down 9.5% in after-hours trading.
The surge comes a day after Tesla stock climbed nearly 20%, its biggest one-day gain in six years.
U.S. consumer electronics retailer Best Buy Co said on Tuesday its board cleared Chief Executive Officer Corie Barry of misconduct allegations following an independent review.
Chipotle Mexican Grill Inc beat analysts' estimates for quarterly comparable sales and profit on Tuesday, benefiting from higher menu prices and expanded delivery options.
The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened.
Oil prices sank about 1% on Tuesday as fears that energy demand would take a long-term hit from the growing coronavirus outbreak outweighed hopes for more production cuts from OPEC and its allies.
Chipotle Mexican Grill Inc raised menu prices and consumers bit, helping the fast-casual burrito chain beat analysts' estimates for quarterly sales and profit on Tuesday.
Intercontinental Exchange Inc (ICE), the owner of the New York Stock Exchange, has reached out to eBay Inc to explore a potential combination with the e-commerce company, people familiar with the matter said on Tuesday.
Nike Inc said on Tuesday the coronavirus outbreak in China would have a financial impact on its operations in the country, its biggest growth market, sending the footwear maker's shares down 3%.
Boeing Co told U.S. lawmakers it will not cancel an incentive award for its new chief executive tied to the return of its grounded 737 MAX return despite criticism from Congress, according to a letter made public Tuesday.
Ford Motor Co shares nosedived on Tuesday after it handed investors a weaker-than-expected 2020 forecast, warning that quality problems, lower profits at its credit arm and continued investments in unprofitable self-driving cars would weigh down profits.
A nearly 14% gain in Tesla Inc's stock on Tuesday was likely sparked by investors looking to hop aboard its remarkable rally, rather than a reversal of bearish bets, an analysis of positioning dynamics showed.