Today's top stories: Microsoft and Alphabet earnings, UPS, President Biden's ree...
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Today's top stories: Microsoft and Alphabet earnings, UPS, President Biden's reelection bid
Today's top stories: Microsoft and Alphabet earnings, UPS, President Biden's reelection bid
The Yahoo Finance Live team discusses the three top stories from the market day on Tuesday.
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Today's top stories: Microsoft and Alphabet earnings, UPS, President Biden's reelection bid
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The Yahoo Finance Live team discusses the three top stories from the market day on Tuesday.
Video Transcript
- It's closing time here at Yahoo Finance. Let's get you caught up on some of the biggest stories of the day. Tech Giants Microsoft and Alphabet reporting their quarterly results after the bell.
Both companies beating the Street's expectations. Microsoft was helped by better than expected numbers in its cloud division, while Google parent company Alphabet reported that its cloud business posted a profit for the first time, as well as announcing a $70 billion share buyback.
- All right. We also got results from UPS today. The shipping giant's first quarter earnings were in line with analysts' estimates. But its outlook has investors concerned. Shares closed 10% lower, getting dinged after the company's CEO warned about the slowdown in retail sales, saying that given the current macro conditions, it expects shipping volume to, quote, "to remain under pressure."
- And finally, President Biden officially announcing he is running for re-election. Biden making the announcement in a video released early this morning, in which he vows to, quote, "finish the job" he started in his first term.
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First-quarter earnings at UPS match analysts' estimates, but the shipping giant lowers its forecast for 2023.
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USA TODAYFormer NBCUniversal CEO Jeff Shell accused of sexual harassment by CNBC anchor Hadley Gamble
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Fox BusinessGoogle parent Alphabet discloses how much it compensated CEO Sundar Pichai in 2022
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1d ago
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3h ago
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The upbeat results are a rare positive sign about IT spending as tech earnings shift into full gear.
2h ago
BenzingaWhy PacWest Bancorp Shares Are Jumping Tuesday Evening
PacWest Bancorp (NYSE: PACW) reported earnings after the close and beat EPS estimates, sending the stock higher. The move comes after the stock traded down more than 8% in Tuesday’s regular session as banking crisis fears crept back into the market following First Republic Bank’s (NYSE: FRC) worrisome earnings call. PACW EPS came in at $0.66 a share, higher than the estimates of $0.61 a share, according to Benzinga Pro. PacWest says total deposits increased $1.1 billion to $28.2 billion on March
1h ago
Barrons.comAlphabet Stock Rises on Earnings Beat. The Buybacks Are Growing Too.
Shares of Google-parent Alphabet were rising after the big technology firm reported better-than-expected earnings and announced an additional $70 billion in stock buybacks. Alphabet said first-quarter earnings were $1.17 a share, compared to the consensus estimate of $1.08, according to FactSet. The company said its board had expanded its share repurchase program by up to $70 billion.
3h ago
Investor's Business DailyIllumina Narrowly Squeaks Out First-Quarter Beat As Grail Battle Continues
Illumina narrowly topped first-quarter forecasts Tuesday as its fight to retain its Grail subsidiary continues. ILMN stock dipped.
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12h ago
SmartAssetAsk an Advisor: ‘Prove Me Wrong.' I Think Investing in CDs Is a Better Deal Than Working With an Advisor
Why hire a financial advisor who will take around 1% percent of your assets per year when you can get a certificate of deposit (CD) at over 5% with no fee? That alone amounts to a 6% return on your … Continue reading → The post Ask an Advisor: ‘Prove Me Wrong.' I Think Investing in CDs Is a Better Deal Than Working With an Advisor appeared first on SmartAsset Blog.
12h ago
ReutersFirst Republic's strategic options "very challenging" - Fitch
First Republic Bank's strategic options are "very challenging" because any potential sale is unlikely without the lender taking big writedowns on its mortgage loan book and securities portfolio, analysts at Fitch Ratings said on Tuesday. "If someone were to acquire them ... there's going to be some big writedowns that would have to be taken against some of the assets," Christopher Wolfe, head of North American banks at Fitch Ratings, told Reuters in an interview.
5h ago
ReutersGoogle parent announces stock buyback, modest beat on ad sales
(Reuters) -Alphabet Inc said on Tuesday it would buy back $70 billion in stock and posted first-quarter profit and revenue above estimates as demand rose for cloud services and ad sales held up better than expected. Investors cheered the buyback plan, sending shares of the Google parent as much as 4% higher in after-hours trade before they pared gains to trade up 1.6%. Demand rose for cloud services and Google's ad sales held up better than expected.
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BenzingaTesla Just Made This Unknown Family $1.2 Billion
A single deal with Elon Musk's Tesla Inc. propelled a little-known family to a staggering $1.2 billion fortune. Don’t Miss: The House-Printing Robot Shaking Up a $7.28 Trillion Industry L&F Co. Ltd., a South Korean company that produces high-nickel cathodes for electric vehicle batteries, received a $2.9 billion order from the electric car maker, causing its share price to soar 82% in the past year. As a result, the listed holdings of Hur Jae-hong and his family, the owners of L&F, have surged t
1d ago
BenzingaChina's Tensions With US Weighs On Alibaba's Stock, Erases Gains From Latest Revamp
Alibaba Group Holding Limited (NYSE: BABA) stock gave up the gains fueled by its ambitious restructuring proposal after it slumped in Hong Kong on Tuesday. Alibaba’s latest drop came as China’s deteriorating geopolitical tension with the U.S. posed a dampener for China’s technology shares, Bloomberg reports. “Overall sentiment on China is low now as geopolitical tensions continue to weigh, and it may be difficult for IPO or spin-off activity to pick up momentum in such an environment,” said Marv
10h ago
ZacksLuminar Technologies, Inc. (LAZR) Stock Sinks As Market Gains: What You Should Know
Luminar Technologies, Inc. (LAZR) closed at $5.61 in the latest trading session, marking a -1.58% move from the prior day.
1d ago
ZacksSoFi Technologies, Inc. (SOFI) May Report Negative Earnings: Know the Trend Ahead of Next Week's Release
SoFi Technologies, Inc. (SOFI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
1d ago
ZacksTexas Instruments (TXN) Beats Q1 Earnings and Revenue Estimates
Texas Instruments (TXN) delivered earnings and revenue surprises of 5.11% and 0.39%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?
3h ago
InvestopediaAmazon Projected to Turn a Profit Despite Slowdown in Cloud Services Revenue
Ecommerce giant Amazon.com likely turned a profit in the first quarter even as revenues from its Amazon Web Services (AWS) subsidiary grew at the slowest pace in at least a decade amid increased competition from rival cloud providers.
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ReutersUS consumer confidence hits nine-month low; housing market bottoming out
U.S. consumer confidence dropped to a nine-month low in April as worries about the future mounted, further heightening the risk that the economy could fall into recession this year. The consumer confidence survey from the Conference Board on Tuesday also suggested that Americans were getting ready to hunker down as dark clouds gather, with the share of them planning to buy major household appliances over the next six months falling to the lowest level since 2011. Consumers have shown resilience despite high inflation and a rise in interest rates, keeping the economy afloat, thanks to a strong labor market.
7h ago
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