Streaming TV, once heralded as a high-tech liberator that would save us from the headaches of big cable bundles, just got another big cable-like bundle yesterday with the launch of HBO Max.
WarnerMedia’s long-awaited rival to heavy hitters like Netflix and Disney Plus includes a broad mix of movies and TV shows from the Warner and HBO libraries, along with exclusive offerings you can find only on Max. It costs $14.99 a month and you can cancel it at any time.
Boeing announced Wednesday that the company is cutting over 12,000 jobs—most of those in the Seattle area—as the beleaguered air manufacturer deals with the fallout of the coronavirus pandemic that’s at times seen air travel drop over 90% compared to 2019.
The company plans to lay off 6,770 U.S. workers this week, with another 5,520 workers being asked to take buyouts in coming weeks.
Former Vice President Joe Biden said Amazon (AMZN) should “start paying their taxes” in a broader critique of large, successful businesses.
“I don’t think any company, I don’t give a damn how big they are, the Lord Almighty, should absolutely be in a position where they pay no tax and make billions and billions and billions of dollars,” the presumptive Democratic presidential nominee said in an interview with CNBC on Friday.
For the 2017 and 2018 tax years, Amazon’s own financial filings showed that it expected to receive money back from the federal government, not that it owed money in income tax. For the 2019 tax year, Amazon said it owed more than $1 billion in federal income tax, a figure experts said amounted to little more than 1% of its profits.
The new coronavirus “does not spread easily” from touching surfaces or objects, according to updated wording on the Centers for Disease Control and Prevention’s (CDC) website.
This change was made on May 11 without an announcement from the organization, according to NBC News. The change, which was made during an internal review of their website, was meant to “clarify other types of spread beyond person to person,” CDC spokesperson Kristen Nordlund told NBC News.
But there doesn’t appear to be any new data on how infectious viral particles are on surfaces, according to NBC News.
Robert P., a student loan borrower from Queens, New York, was surprised to find out that this credit score had dropped by 100 points after his federal student loans serviced by Great Lakes Higher Education were automatically placed into a forbearance. This happened following passage of the CARES Act. Another borrower named Ashley Higgins experienced a credit score drop during the same time period and told a local news affiliate about what happened. Other borrowers (who wished to remain anonymous) have reported similar credit score hits, as well.
As shares of Norwegian Cruise Line continued to sink like the Titanic—down 80% from the end of 2019 to $12 per share by late April—Scott Dahnke and his team at L Catterton were quietly eyeing the wreckage. The partners at his Greenwich, Connecticut, private equity firm had already made a killing by taking a cruise ship-based beauty chain public and they were focused on high-end brands. After all, the “L” in their name comes from their financial backing by LVMH, the French luxury goods giant and they had already scored a string of successes from investments in the upscale home decorator Restoration Hardware, Lily’s Kitchen, a London-based organic dog food maker and Peloton, the Internet-connected stationary bicycle concern
Bitcoin has just gone through a much-hyped adjustment that reduced the rate at which new coins are created.
The world’s biggest cryptocurrency’s so-called “halving” happens roughly every four years.
The digital currency relies on what are known as “miners”, who run software that races to solve complex maths puzzles in return for Bitcoins.
Monday’s halving event means that the reward for unlocking a “block” has been cut from 12.5 new coins to 6.25.
Heading into earnings season, you might have expected Uber and Lyft to suffer.
After all, global travel slowed toward the end of Q1, so how could these companies have done well? Continuing the same line of thinking, given that they are both unprofitable and are valued more on growth than trailing earnings, with growth slowing would there be much to celebrate?
The answer was a resounding “yes.” Uber and Lyft both rallied toward the end of last week following their successive earnings reports.
Today, let’s go back and remind ourselves how Uber and Lyft performed against Q1 expectations and what they said about the hits they took in March (Q1) and early April (Q2). Then we’ll ask ourselves why their shares rallied despite telling investors that their businesses had begun to fall sharply in the COVID-19 world.
Last year, America’s biggest chain restaurants went all in on breakfast.
Companies ranging from Wendy’s to McDonald’s to Dunkin’ invested heavily in the meal, testing out everything from new chicken sandwiches to plant-based options.
Now, with people stuck at home because of the coronavirus pandemic, it’s one of the industry’s worst-performing segments. McDonald’s (MCD) CEO Chris Kempczinski said during the company’s first-quarter analyst call last week that “breakfast is down” compared to other meals.
Similarly, Jose Cil, CEO of Restaurant Brands International (QSR), which owns Burger King, Popeyes and Tim Hortons, said during an earnings call last week that breakfast and snacking “have seen a disproportionate decrease, while lunch and dinner have shown more strength.”
Today after the bell, Alphabet, parent company of Google, reported its Q1 2020 performance. The company’s $41.16 billion in revenue for the three-month period came in ahead of expectations, besting analyst estimates of $40.33 billion. However, its earnings per share came in under expectations, with the street anticipating $10.38 in per-share profit, while Alphabet delivered a slimmer $9.87 in per-share income.
Shares of Alphabet rose around 2.8% in after-hours trading after shedding 3.3% in regular trading.
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