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2 Articles
Source: Common Domain

The Morning Risk Report: Facebook Sets Aside $3 Billion to Cover Expected FTC Fine

Thursday 21:50 GMT

Facebook Inc. said it has set aside $3 billion for an expected fine from the Federal Trade Commission over privacy issues, cutting into the social-media giant’s profits even as its underlying business remained strong.

The fine could mark the largest privacy-related action in FTC history, and the first major regulatory penalty for Facebook after a bruising period in which its business practices have been under intense global scrutiny.

1 Article
Source: Fox News

GOP strategist Colin Reed on Biden's expected 2020 announcement: 'The gloves will come off right away'

Thursday 23:40 GMT

GOP strategist Colin Reed said Wednesday he thinks “the gloves will come off right away” if former Vice President Joe Biden joins the crowded 2020 field of Democrats as expected. “I think Joe Biden has made a connection with voters,” Democratic strategist Michael Meehan, the president and CEO of Squared Communications, responded on “The Daily Briefing with Dana Perino” Wednesday.

When asked if he thought Vermont Sen. Bernie Sanders would go after Biden right away, Reed said, “I don’t think he goes after him right away because he’s the frontrunner, and in politics, you always punch up, not down.”

1 Article
Source: Reuters

Exxon, Chevron first-quarter earnings expected to dip from last year

Thursday 23:40 GMT

Exxon Mobil and Chevron are expected to report lower quarterly earnings per share when compared with last year’s first quarter, though their stocks have outperformed smaller companies with both in the midst of aggressive expansion plans in shale oil.

Shares of Exxon Mobil Corp have rallied about 20 percent since the start of the year, while Chevron Corp stock has risen roughly 10 percent. Exxon, the world’s largest publicly traded oil producer, is expected to earn 69 cents a share, down from $1.09 a year ago.

1 Article
Source: Fox News

Amazon crushes earnings expectations, but revenue growth slows

Thursday 21:51 GMT

Amazon crushed expectations for its first-quarter results on Thursday, reporting earnings that easily surpassed Wall Street’s projections even as revenue growth slowed.

Quarterly revenue rose 17 percent to $59.7 billion, roughly in line with expectations, but growth was down from 46 percent in the same period one year ago. In the first quarter, North America revenue grew 17 percent to $35.8 billion, compared to 46 percent growth in the same period one year ago.

1 Article
Source: Reuters

Southwest Airlines says bookings strong even as 737 MAX remains...

Thursday 21:50 GMT

(Reuters) - Southwest Airlines Co forecast better-than-expected second-quarter revenue growth on Thursday, citing demand from leisure and business customers, even as the low-cost carrier is forced to ground its 34 Boeing 737 MAX jets.

Dallas-based Southwest, the world’s largest MAX operator, said it expected closely watched unit revenue to grow by 5.5 percent to 5.7 percent year-on-year in the second quarter.

1 Article
Source: The Guradian

Bad girl gone good What to expect from Taylor Swift's mystery release

Thursday 23:40 GMT

Judging by the glittery countdown on her website, Taylor Swift is set to release something this Friday – presumably the first single from her forthcoming seventh album, known for now as TS7.

It’d be disappointing to see Swift on the back foot, and she’d be foolish to storm ahead as if her imperial phase wasn’t almost half a decade ago, but there is one retreat that would make sense without seeming defensive: if the hip-hop-referencing Reputation was the logical conclusion to the stadium-pop Swift perfected on 1989, a callback to Swift’s Nashville roots would be a partial reset that would be believable and on trend.

1 Article
Source: Common Domain

Elon Musk keeps moving Tesla’s finish line

Thursday 09:55 GMT

Elon Musk on Aug. 1, 2018: “In the second half of 2018, we expect, for the first time in our history, to become both sustainably profitable and cash-flow positive.” Elon Musk on Oct. 24, 2018: “We expect to again have positive net income and cash flow in Q4, and I believe — our aspirations, I think — will be for all quarters going forward.”

Elon Musk on Jan. 30: “At this point I’m optimistic about being profitable for Q1 ... and for all quarters moving forward.” Elon Musk on Feb. 28: “We do not expect to be profitable in Q1, But we do think that profitability in Q2 is likely.”

1 Article
Source: The Guradian

Facebook expects FTC fine of up to $5bn as inquiry continues

Thursday 20:00 GMT

Facebook is expecting to have to pay as much as $5bn to the US Federal Trade Commission (FTC), it revealed in first quarter financial reports, which otherwise showed continued revenue growth to more than $15bn for the first three months of the year.

Zuckerberg’s reference to “issues around the internet” echoes the CEO’s messaging from last quarter, when he expressed confidence that Facebook had “started to turn a corner” on the laundry list of “social issues” that have damaged the company’s reputation since 2016. That plan – to stitch together the various messaging platforms in Facebook’s “family of apps” – was announced in March as a pivot to a “privacy-focused communications platform”.

2 Articles
Source: Common Domain

Facebook expects multibillion-dollar FTC fine, but stock still gains after earnings

Thursday 20:00 GMT

Facebook Inc. shares jumped in late trading Wednesday, even as the company said it expects to pay a multibillion-dollar fine to the Federal Trade Commission.

Facebook took a $3 billion charge in the first quarter, as it “reasonably estimated” that it will be required to pay that much as the FTC looks to punish the company for violating a consent decree on user privacy. Without that charge, Facebook would have easily topped earnings estimates, so after a brief decline in shares during after-hours trading, they jumped back up to a 4% gain.

2 Articles
Source: Common Domain

Health-care earnings: ‘Medicare for all’ looms large

Tuesday 20:01 GMT

Shares of UnitedHealth Group Inc. tumbled last week despite the company reporting first-quarter earnings and revenue that beat expectations — a sign of investors’ growing anxiety over the health-care regulatory climate.

With that in mind, here’s what to watch out for during the next couple of days as health-care companies announce earnings. Centene CNC, -1.96% shares initially shot up 6.1% in premarket trade Tuesday after the insurer reported first-quarter profit and revenue that beat Wall Street expectations, while raising its full-year outlook.

1 Article
Source: Common Domain

AbbVie and Bristol-Myers Squibb will report first-quarter earnings on Thursday. Here’s what to expect

Thursday 17:16 GMT

Next up are AbbVie Inc. ABBV, +0.21%  and Bristol-Myers Squibb Co. BMY, -1.27%  Here’s what investors can expect on Thursday as these two pharmaceutical giants report first-quarter earnings.

Bristol-Myers Squibb, set to announce earnings on Thursday morning ahead of the market open, is expected to report a profit of $1.09 per share on revenue of $5.752 billion, up from 94 cents per share on revenue of $5.193 billion a year ago, according to analysts polled by FactSet.

1 Article
Source: Common Domain

Verizon Reports Earnings Tomorrow. Here’s What to Expect.

Tuesday 08:59 GMT

The new divisions will be Verizon Consumer Group, Verizon Business Group, and Verizon Media Group, which will include the former Oath assets.

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

1 Article
Source: Common Domain

Boeing’s earnings report brings the 737 Max debacle into focus

Wednesday 04:14 GMT

The 737 Max aircraft, the fourth and latest major iteration of Boeing’s storied 737 family, was grounded world-wide in March following two fatal crashes less than five months apart.

Boeing Co. is scheduled to report first-quarter earnings before the bell on April 24, with Wall Street focusing on the company’s 737 program and the ripple effects that two fatal crashes and the planes’ grounding continue to have on the company’s bottom line.

1 Article
Source: Common Domain

Intel earnings: New CEO is not getting a honeymoon period

Tuesday 22:44 GMT

Right after its last earnings report, Intel INTC, +0.56%  made interim CEO Bob Swan the company’s chief executive on a permanent basis, and brought on Qualcomm Inc.’s  George Davis earlier this month to fill Swan’s role as chief financial officer.

Intel Corp.’s new permanent chief executive should arrive to his first earnings report with a full deck of updates for investors after what is expected to be a slow start to 2019.

1 Article
Source: Common Domain

Forget spring, here’s a summer stock survival strategy from Deutsche

Wednesday 10:50 GMT

While Bianco doesn’t think a 5% drop for the S&P 500 is likely this summer, he said they are trimming back some of their equity risk until the index moves back into a tight range they expect will dominate this summer — 2,750 to 2,950.

There are elements of that argument in our call of the day, which comes from David Bianco, chief investment officer and strategist at DWS Investment Management (a unit of Deutsche Bank).


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