The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
spending@ (Adds details on forecast, share movement)
Aug 1 (Reuters) - Square Inc forecast third-quarter profit below analysts' estimates on Thursday as it spends heavily on its Cash App business to fend off rivals such as PayPal Holdings Inc's Venmo, sending its shares down 6% in extended trading.
The company, founded and led by Twitter Inc Chief Executive Officer Jack Dorsey, also said it would sell its food-ordering platform Caviar to DoorDash for $410 million in cash and preferred stock.
Square's Cash App allows users to send money to each other for free. The app charges fees to businesses when users choose to instantly deposit money from the app into their bank accounts.
The company said it expects adjusted earnings per share of between 18 cents and 20 cents for the third quarter, below analysts' expectations of 22 cents, according to IBES data from Refinitiv.
The company said net loss widened to $6.7 million, or 2 cents per share, in the three months ended June 30 from $5.9 million, or 1 cent per share, a year earlier. (https://bit.ly/2Yywrb3)
On an adjusted basis, the company earned 21 cents per share, while analysts had expected a profit of 17 cents.
Total net revenue rose 44% to $1.17 billion. (Reporting by C Nivedita in Bengaluru; Editing by Sriraj Kalluvila)