DoorDash Reveals I.P.O. Filing

The company’s performance renewed questions about whether “gig economy” businesses can turn a profit.

#company-reports, #delivery-services, #doordash-mobile-app, #food, #freelancing-self-employment-and-independent-contracting, #initial-public-offerings, #restaurants, #venture-capital, #xu-tony

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PlayStation 5: The Next Step in Sony’s Rebound

The gaming console, coming out in its latest version on Thursday, has become the Japanese giant’s centerpiece product.

#company-reports, #computer-and-video-games, #computers-and-the-internet, #electronics, #hirai-kazuo, #microsoft-corp, #playstation-4-video-game-system, #sony-corporation, #xbox-video-game-system, #yoshida-kenichiro

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Mastercard’s Ajay Banga Took the Long View and Preserved Jobs

In 10 years running Mastercard, Ajay Banga has favored a forward-looking approach.

#banga-ajay, #company-reports, #content-type-personal-profile, #coronavirus-2019-ncov, #credit-cards, #executives-and-management-theory, #labor-and-jobs, #layoffs-and-job-reductions, #mastercard-inc, #stimulus-economic, #wages-and-salaries

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New York Times Hits 7 Million Subscribers as Digital Revenue Rises

For the first time, the publisher brings in more revenue from online readers than its print subscribers.

#company-reports, #kopit-levien-meredith, #new-york-times-company, #news-and-news-media, #newspapers, #serial-radio-program, #trump-donald-j

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Gilead’s Covid-19 Drug Is Mediocre. It Will Be a Blockbuster Anyway.

Gilead Sciences said Wednesday that remdesivir, which has been authorized for emergency use since the spring, brought in $873 million in revenues so far this year.

#company-reports, #coronavirus-2019-ncov, #drugs-pharmaceuticals, #food-and-drug-administration, #gilead-sciences-inc, #remdesivir-drug, #research, #your-feed-science

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Big Tech Continues Its Surge Ahead of the Rest of the Economy

Amazon, Apple, Facebook and Alphabet reported the latest in a string of enormous quarterly profits on Thursday.

#advertising-and-marketing, #alphabet-inc, #amazon-com-inc, #apple-inc, #company-reports, #computers-and-the-internet, #e-commerce, #facebook-inc, #google-inc, #social-media

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Leon Black Calls Relationship With Jeffrey Epstein a ‘Terrible Mistake’

Mr. Black, the billionaire chief executive of Apollo Global Management, said others’ continued association with Mr. Epstein had given him “misplaced comfort” in doing business with him.

#apollo-global-management, #black-leon-d, #company-reports, #epstein-jeffrey-e-1953, #finances, #museum-of-modern-art, #private-equity

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A.M.D. Agrees to Buy Xilinx for $35 Billion in Stock

The deal would broaden A.M.D.’s business into chips for markets like 5G communications and automotive electronics.

#advanced-micro-devices-inc, #company-reports, #computer-and-video-games, #computer-chips, #computers-and-the-internet, #factories-and-manufacturing, #intel-corporation, #mergers-acquisitions-and-divestitures, #xilinx-inc

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Peloton Recalls Pedals on Thousands of Bikes After Reports of Injury

About 27,000 bikes were affected by the recall, according to the U.S. Consumer Product Safety Commission.

#bicycles-and-bicycling, #company-reports, #exercise, #health-clubs, #peloton-interactive-inc, #quarantine-life-and-culture, #recalls-and-bans-of-products

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Snowflake More Than Doubles in Debut as Wall Street Embraces Tech IPOs

The data storage company is among several prominent start-ups going public this year as the tech industry thrives in the pandemic.

#company-reports, #data-storage, #initial-public-offerings, #snowflake, #software, #start-ups, #stocks-and-bonds, #venture-capital

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Palantir, Tech’s Next Big I.P.O., Lost $580 Million in 2019

The Silicon Valley company could be the next in a string of tech outfits to go public long before they have turned a profit.

#company-reports, #initial-public-offerings, #karp-alex, #palantir-technologies

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Saudi Aramco Says Profit Fell 73 Percent as Demand for Oil Shrank

The coronavirus pandemic took a major toll on the oil giant’s earnings, but Aramco will maintain its hefty dividend for shareholders.

#company-reports, #coronavirus-2019-ncov, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #saudi-arabia, #saudi-aramco

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Profits Rebound at Warren Buffett’s Berkshire Hathaway

Berkshire reported earnings of $26.4 billion in the second quarter, a turnaround from its $49.7 billion loss in the first quarter, when the pandemic caused a plunge in the stock market.

#apple-inc, #automobile-insurance-and-liability, #bank-of-america-corporation, #berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov, #geico-government-employees-insurance-co, #stocks-and-bonds, #united-states-economy

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Uber’s Ride-Hailing Business Craters, but Deliveries Surge in Pandemic

Uber said revenue fell 29 percent in the second quarter because people traveled less, but food deliveries soared.

#car-services-and-livery-cabs, #company-reports, #coronavirus-2019-ncov, #delivery-services, #khosrowshahi-dara, #uber-eats, #uber-technologies-inc

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Major U.S. Health Insurers Report Big Profits, Benefiting From the Pandemic

Consumers are probably entitled to millions of dollars in rebates under Obamacare rules that cap companies’ profits.

#aetna-inc, #anthem-inc, #blue-cross-and-blue-shield-assn, #cigna-corporation, #company-reports, #coronavirus-2019-ncov, #customer-relations, #cvs-caremark-corporation, #finances, #health-and-human-services-department, #health-insurance-and-managed-care, #hospitals, #patient-protection-and-affordable-care-act-2010, #presidential-election-of-2020, #rebates-and-refunds, #stocks-and-bonds, #united-states-politics-and-government, #unitedhealth-group-inc, #your-feed-healthcare

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Digital Revenue Exceeds Print for 1st Time for New York Times Company

The pandemic squeezed advertising for the web as well as print, but subscription growth was the best ever for a quarter.

#company-reports, #kopit-levien-meredith, #new-york-times-company, #news-and-news-media, #newspapers, #thompson-mark-john-1957

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A Better Year for Trump’s Family Business (Last Year, That Is)

In 2019, the Trump Organization showed improvement over the previous year. But the company’s minimum reported revenues still fell short of the president’s first year in office, his new financial disclosure shows.

#company-reports, #coronavirus-2019-ncov, #hotels-and-travel-lodgings, #real-estate-commercial, #shutdowns-institutional, #trump-organization, #trump-donald-j, #united-states-politics-and-government

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Big Tech Companies Report Big Profits

Big tech companies reported bumper profits in the shadow of congressional scrutiny over their outsize market power.

#alphabet-inc, #amazon-com-inc, #apple-inc, #company-reports, #facebook-inc, #google-inc, #pichai-sundar, #stimulus-economic, #united-states-economy

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The Economy Is in Record Decline, but Not for the Tech Giants

Even though the tech industry’s four biggest companies were stung by a slowdown in spending, they reported a combined $28 billion in profits on Thursday.

#alphabet-inc, #amazon-com-inc, #antitrust-laws-and-competition-issues, #apple-inc, #company-reports, #computers-and-the-internet, #coronavirus-2019-ncov, #facebook-inc, #online-advertising, #social-media, #stocks-and-bonds, #united-states-economy

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Bezos, Cook, Pichai and Zuckerberg Prepare For Grilling

The bosses of four tech giants are preparing to defend themselves at a congressional hearing against claims of anti-competitive behavior.

#alphabet-inc, #amazon-com-inc, #antitrust-laws-and-competition-issues, #apple-inc, #bezos-jeffrey-p, #company-reports, #cook-timothy-d, #facebook-inc, #google-inc, #major-league-baseball, #pichai-sundar, #solomon-david-m, #zuckerberg-mark-e

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‘A Big Correction’: Pandemic Brings Change to ‘Bloated’ Ad Industry

The marketing business is going through a period of innovation as it sheds workers and tries to hold on to clients.

#advertising-and-marketing, #chipotle-mexican-grill-inc, #company-reports, #coronavirus-2019-ncov, #layoffs-and-job-reductions, #major-league-baseball, #read-mark-marketing-executive, #visa-inc, #wpp

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Tesla Turns a Profit in a Pandemic-Squeezed Quarter

The result was achieved “despite tremendous difficulties,” said the chief executive, Elon Musk, including a plant shutdown and lower sales.

#company-reports, #electric-and-hybrid-vehicles, #executive-compensation, #musk-elon, #stocks-and-bonds, #tesla-motors-inc

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Chevron Deal for Oil and Gas Fields May Set Off New Wave of Mergers

With a $5 billion play for Noble Energy, the oil giant is set to acquire properties around the world for a relative bargain. Other companies might make similar moves.

#chevron-corporation, #company-reports, #coronavirus-2019-ncov, #mergers-acquisitions-and-divestitures, #natural-gas, #noble-energy-inc, #oil-petroleum-and-gasoline, #prices-fares-fees-and-rates, #shale, #stocks-and-bonds, #wirth-michael-k

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Banks Stockpile Billions as They Prepare for Things to Get Worse

JPMorgan Chase, Citigroup and Wells Fargo said that as long as the economy behaved according to their forecasts, they were braced for more pandemic-induced pain.

#banking-and-financial-institutions, #citigroup-inc, #company-reports, #coronavirus-2019-ncov, #credit-and-debt, #jpmorgan-chasecompany, #piepszak-jennifer, #scharf-charles-w, #united-states-economy, #wells-fargocompany

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Tesla Shines During the Pandemic as Other Automakers Struggle

The electric carmaker’s deliveries fell as people around the world were forced to stay home by government orders and fears over the coronavirus pandemic. But the decline was far smaller than for other automakers.

#austin-tex, #automobiles, #company-reports, #coronavirus-2019-ncov, #coronavirus-reopenings, #electric-and-hybrid-vehicles, #factories-and-manufacturing, #fremont-calif, #musk-elon, #stocks-and-bonds, #tesla-motors-inc

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Shares of Chesapeake Energy, a Shale Pioneer, Tumble in Volatile Trading

The company, which has said it could file for bankruptcy protection, helped turn the U.S. into a gas exporter but became known for an illegal scheme to suppress the price of oil and gas leases.

#bankruptcies, #chesapeake-energy-corporation, #company-reports, #credit-and-debt, #lawler-robert-d, #mcclendon-aubrey-k, #natural-gas, #oil-petroleum-and-gasoline, #oklahoma-city-okla, #shale

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Dismal Earnings, Bullish Stock Investors and the Fed’s Invisible Hand

First-quarter profits shrank at the fastest rate in over a decade. Analysts don’t like what they see coming down the pike. Investors keep pushing stocks higher.

#banking-and-financial-institutions, #company-reports, #coronavirus-2019-ncov, #corporations, #credit-and-debt, #federal-reserve-system, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states-economy

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WeWork Wants a Rent Break. Its Customers Do, Too.

Some who rent space from the troubled company say it has not been generous with them even as it seeks concessions from building owners.

#co-working, #company-reports, #computers-and-the-internet, #coronavirus-2019-ncov, #landlords, #neumann-adam, #real-estate-commercial, #renting-and-leasing-real-estate, #shutdowns-institutional, #softbank-corporation, #stocks-and-bonds, #wework-companies-inc

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The Results Are In for the Sharing Economy. They Are Ugly.

Lyft, Uber and Airbnb depend on travel, vacations and gatherings. That’s a problem when much of the world is staying home.

#airbnb, #chesky-brian, #company-reports, #coronavirus-2019-ncov, #green-logan, #khosrowshahi-dara, #layoffs-and-job-reductions, #limebike, #lyft-inc, #uber-eats, #uber-technologies-inc

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Boom in Canned Food Means a Boom in Cans, Too

With soup and vegetables flying off supermarket shelves to feed a shut-in nation, canneries are bustling — and they really need metal containers.

#apex-tool-works, #company-reports, #consumer-behavior, #containers-and-packaging, #coronavirus-2019-ncov, #food, #general-mills-inc, #labor-and-jobs, #shutdowns-institutional, #silgan-holdings-inc, #soups, #supermarkets-and-grocery-stores, #united-states-economy

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The New York Times Tops 6 Million Subscribers as Ad Revenue Plummets

Widespread interest in coronavirus coverage drew nearly 600,000 digital subscribers during three months of 2020. But the chief executive, Mark Thompson, gave a bleak forecast for ads.

#advertising-and-marketing, #company-reports, #coronavirus-2019-ncov, #new-york-times-company, #news-and-news-media, #newspapers, #thompson-mark-john-1957

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People Are Panic-Buying Meat, Toilet Paper … and Pelotons?

With gyms closed and nowhere to go, more people are shelling out $2,245 for the workout bike.

#classpass-inc, #company-reports, #coronavirus-2019-ncov, #equinox-holdings-inc, #exercise, #peloton-interactive-inc, #soulcycle-llc

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First Quarter Earnings Were Terrible, But Executives Offer Some Hope

While the pandemic has made it hard to offer forecasts, some corporate leaders said things might be getting a little better — or at least no worse.

#china, #company-reports, #coronavirus-2019-ncov, #corporations, #hca-holdings-inc, #mastercard-inc, #mcdonalds-corporation, #southwest-airlines-company, #standardpoors-500-stock-index, #starbucks-corporation, #stocks-and-bonds, #united-states-economy

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Warren Buffett Isn’t Buying Anything

Unlike his spending spree during the 2008 financial crisis, the Berkshire Hathaway chief is keeping his wallet closed.

#berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #j-crew-group, #shopping-and-retail

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Berkshire Hathaway Lost $49.7 Billion in First Quarter Stung by Coronavirus

The huge loss reflects the hit that the crisis has inflicted on Warren E. Buffett’s vast conglomerate.

#berkshire-hathaway-inc, #buffett-warren-e, #company-reports, #coronavirus-2019-ncov

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Chinese Coffee Chain’s Scandal Renews U.S. Calls for Oversight

The implosion of a Chinese competitor to Starbucks has bolstered the cause of American politicians aiming to stop opaque Chinese companies from raising money in the U.S.

#accounting-and-accountants, #china, #coffeehouses, #communist-party-of-china, #company-reports, #frauds-and-swindling, #international-trade-and-world-market, #law-and-legislation, #luckin-coffee, #nasdaq-stock-market, #pensions-and-retirement-plans, #rubio-marco, #securities-and-commodities-violations, #stocks-and-bonds, #united-states-economy, #united-states-politics-and-government, #venture-capital

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Facebook Points to ‘Signs of Stability’ as Ad Declines Flatten

The company reported rising revenue and profit in the first quarter and said it was also saving on expenses.

#advertising-and-marketing, #company-reports, #computers-and-the-internet, #coronavirus-2019-ncov, #facebook-inc, #online-advertising, #social-media, #zuckerberg-mark-e

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Airbus, a Jewel of the European Economy, Signals Distress

Europe’s giant plane maker, thriving just months ago, is now warning of the “gravest crisis.”

#airbus-industrie, #airlines-and-airplanes, #company-reports, #coronavirus-2019-ncov, #faury-guillaume, #layoffs-and-job-reductions

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Boeing, Expecting a Long Slump, Will Cut 16,000 Jobs

The company, which saw sales plunge in the first quarter, said air travel might not recover for years.

#airlines-and-airplanes, #boeing-737-max-groundings-and-safety-concerns-2019, #boeing-company, #calhoun-david-l, #company-reports, #coronavirus-2019-ncov, #international-trade-and-world-market, #layoffs-and-job-reductions, #shutdowns-institutional, #washington-state

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Netflix Reports a Record Surge in Subscribers

The streaming giant added nearly 16 million new subscribers in the first three months of the year.

#company-reports, #coronavirus-2019-ncov, #netflix-inc, #television, #video-recordings-downloads-and-streaming

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Can Investors Trust the Stock Market Rally?

After a swift rally, the market remains in limbo and investors are struggling to determine whether it’s a good time to buy stocks.

#company-reports, #coronavirus-2019-ncov, #demonstrations-protests-and-riots, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states-economy

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Big Banks, Readying for a Recession, Set Aside Billions

First-quarter earnings reports from JPMorgan Chase and Wells Fargo showed the country’s largest banks were preparing for customer pain.

#banking-and-financial-institutions, #company-reports, #coronavirus-2019-ncov, #dimon-james, #jpmorgan-chasecompany, #scharf-charles-w, #united-states-economy, #wells-fargocompany

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Even Google and Facebook May Face an Ad Slump

Though ad sales at the two companies are expected to be down, they are likely to fare better than smaller peers and publishers.

#alphabet-inc, #coldwell-banker, #company-reports, #computers-and-the-internet, #coronavirus-2019-ncov, #facebook-inc, #google-inc, #instagram-inc, #masks, #online-advertising, #social-media, #twitter, #yelp

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How Bad Will the Economy Get? Companies Will Provide Clues

The quarterly parade of corporate earnings and management comments could reveal how much damage the pandemic will do and how long the pain will last.

#banking-and-financial-institutions, #company-reports, #consumer-behavior, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #corporations, #credit-and-debt, #layoffs-and-job-reductions, #recession-and-depression, #shutdowns-institutional, #standardpoors-500-stock-index, #united-states-economy

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