CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, tech is in focus. Just one day after the CEO's testified before Congress, Facebook, Apple, Amazon, and Google all reported earnings. Plus, CNBC.com's Pippa Stevens breaks down this week's wild and speculative swings in Kodak stock.
Apple posts blowout third quarter, with sales up 11% despite coronavirus disruptions
Apple reported a historically strong quarter for the company on Thursday, including $59.7 billion in revenue and double-digit growth in its products and services segments, blowing away analyst estimates in a period deeply impacted by the coronavirus pandemic. The company also announced it plans to give investors three additional shares of Apple per share they own at the end of August as part of a 4-1 stock split.
Apple saw widespread retail closures during the quarter, especially in the United States, but previously touted both work-from-home trends and strong online sales as delivering a boost to overall operations. The company declined to issue guidance for the second quarter in a row, most likely due to uncertainty from the pandemic.
Amazon sales soar as pandemic fuels online shopping
Amazon reported its fiscal second-quarter earnings after market close on Thursday. The stock climbed about 5.4% after hours after the company beat on both the top and bottom lines.
Move over Tesla: Robinhood day-trading crowd finds a new speculative favorite in Kodak
The Robinhood crowd has a new favorite speculative stock: Eastman Kodak.
In the last 24 hours, more than 60,000 users have added the stock to their portfolio, making it by far the most popular stock on the millennial-favored trading app according to data from Robintrack, which tracks user activity but is not affiliated with the company.
Shares of the photography pioneer sky-rocketed more than 500% at one point on Wednesday after the U.S. government on Tuesday awarded the company a $765 million loan to produce pharmaceutical components in an effort to combat the coronavirus pandemic.
