The e-commerce company forecast third-quarter adjusted profit in the range of 62 cents to 65 cents per share and revenue of $2.61 billion to $2.66 billion. Analysts had expected a profit of 63 cents on revenue of $2.68 billion, according to IBES data from Refinitiv. EBay's net income from continuing operations fell to $403 million or 46 cents per share for the...
WASHINGTON/ NEW YORK, July 17- U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, saying the company had not shown it could be trusted to safeguard the world financial system and consumers' data. "I have serious concerns with Facebook's plans to create a digital currency and digital wallet," Maxine Waters, chairwoman of the...
July 17- Netflix Inc added fewer paid subscribers than expected in the second quarter as the video streaming pioneer raised prices in some of its major markets, including the United States, sending its shares down nearly 10% in extended trading. Net income fell to $270.7 million, or 60 cents per share, in the second quarter ended June 30 from $384.3 million, or 85...
Revenue from the cloud and cognitive software segment, which includes analytics, cybersecurity and artificial intelligence, was up 3.2% at $5.65 billion and beat estimates of $5.49 billion, according to 3 analysts polled by Refinitiv IBES. The company's net income rose to $2.50 billion, or $2.81 per share, in the second quarter ended June 30, from $2.40 billion,...
*Canada's annual inflation rate falls to 2.0% in June. *Canada's 10- year yield hits a 12- day low at 1.532%. Lower energy prices helped push down Canada's annual inflation rate in June to 2.0% from 2.4% in May, while factory sales rose by 1.6% in May, the most in a year, data from Statistics Canada showed.
July 17- Netflix Inc added fewer paid subscribers than expected in the second quarter as the video streaming pioneer raised prices in some of its major markets, including the United States.
GUAYAQUIL, Ecuador, July 17- Loans to Venezuela from President Nicolas Maduro's allies Russia and China would be renegotiated though the Paris Club if Maduro leaves power, an advisor to the opposition said on Wednesday, responding to concerns about favorable treatment for the two countries. Ricardo Hausmann, who represents opposition leader Juan Guaido at...
WASHINGTON, July 17- The worldwide non-military drone market, dominated by manufacturers in China, will triple in size to $14.3 billion in sales over the next decade, a study said on Wednesday, even as U.S. officials warn of national security risks. The market, estimated at $4.9 billion this year, will benefit from a gradual opening of U.S. airspace by the Federal...
CHICAGO, July 17- Chicago Mercantile Exchange lean hog futures soared by the daily limit and approached a one-month high on Wednesday on renewed hopes that China will increase pork imports to compensate for pigs killed in a widespread outbreak of a fatal swine disease. However, a recent increase in Chinese pork prices is raising expectations that China may now...
NEW YORK/ CALGARY, Alberta, July 17- Enbridge Inc has delayed the start of an open season to solicit bids for contracted space on its Mainline oil pipeline system, North America's largest oil-shipping network, three market sources told Reuters. We anticipate on holding the open season soon, "Enbridge spokeswoman Tracie Kenyon said in an emailed statement when...
Sherwin-Williams, Conagra Brands Inc and NL Industries have agreed to a $305 million settlement, according to a filing in Santa Clara County Superior Court in California on Wednesday. High-profile public nuisance claims have proliferated in recent years in the United States as local governments try to use the courts to make corporations pay for societal...
*Fed's Beige Book points to trade concerns. *Bank of America rises after earnings beat. NEW YORK, July 17- U.S. stock indexes dipped on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings.
NEW YORK, July 17- The dollar softened against most major currencies on Wednesday in step with lower U.S. bond yields and expectations the Federal Reserve would lower interest rates, reversing some of the prior day's gains tied to stronger-than-forecast retail sales data. "With the market pricing for lower interest rates, that's keeping a lid on the dollar," said...
*Iran says it came to aid of foreign oil tanker in the Gulf. NEW YORK, July 17- Oil futures fell more than 1% on Wednesday, extending a more than 3% drop in prices the previous session, after U.S. government data showed large builds in refined product stockpiles. Brent crude futures were down 69 cents, or 1.1%, to settle at $63.66 a barrel.
WASHINGTON/ NEW YORK, July 17- U.S. lawmakers bashed Facebook on Wednesday over its planned cryptocurrency, after a bruising first bout a day earlier when senators from both parties condemned the project, saying the company had not shown it could be trusted. "I have serious concerns with Facebook's plans to create a digital currency and digital wallet," Maxine...
WASHINGTON, July 17- U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite declining mortgage rates. Borrowing costs could drop further as the U.S. central bank is poised to cut rates this month for the first time in a decade to protect the economy from rising...
Treasury yields fell on Wednesday as concerns about the U.S.- China trade war boosted demand for safe haven debt and after data showed weakness in the U.S. housing market. President Donald Trump said on Tuesday the United States still had a long way to go to conclude a trade deal with China but could impose tariffs on an additional $325 billion worth of Chinese...
SANTA FE, Argentina, July 17- Leaders from countries in South America's Mercosur trade bloc met on Wednesday in Argentina, with plans as to how to push forward a recently struck free-trade deal with the European Union at the center of discussions. The presidents of Argentina, Brazil, Paraguay and Uruguay appeared together in the city of Santa Fe, in Argentina's...
The White House sought to downplay the impact of the decision on the U.S. relationship with Turkey, saying that Washington still "greatly values" its strategic relationship with Ankara. Our military-to-military relationship is strong, and we will continue to cooperate with Turkey extensively, mindful of constraints due to the presence of the S-400 system in...
LONDON, July 17- Governments could stop the West Antarctic ice sheet from sliding into the ocean and submerging coastal cities by launching a last-ditch engineering project to blanket its surface with' artificial snow,' a study found on Wednesday. "We have already awoken the giant at the southern pole," said Anders Levermann, a professor at Germany's Potsdam...
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