Tag: C&E Industry News Filter
-
Samsung manages to beat on earnings despite 84% drop in Q2 net profit
[ad_1] Samsung Electronics 005930, +1.29% posted above-consensus quarterly earnings despite an 84% drop in net profit for the second quarter, as the South Korean tech giant sees the memory-chip industry passing through a trough. The world’s largest manufacturer of memory chips, smartphones and televisions said Thursday that it expects global demand for technology products and…
-
Fed no longer foresees a U.S. recession — and other things we learned from Powell’s press conference
[ad_1] The Federal Reserve on Wednesday raised its benchmark interest rate to a range of 5.25% to 5.5%, the highest level in 22 years, in order to combat “elevated” inflation. With financial markets and economists widely expecting that rate move, the focus was on Fed Chair Jerome Powell’s one-hour session with reporters, which followed. Here…
-
ServiceNow’s stock gains on doubling of earnings, strong subscription sales forecast
[ad_1] ServiceNow Inc.’s stock was gaining 2% in extended trading Wednesday after the software company reported quarterly earnings more than doubled on strong subscription sales. “That’s the economics of the cloud,” ServiceNow Chief Executive Bill McDermott said in an interview Wednesday. “What’s incredible is we have a 99% renewal rate.” The software company NOW, -0.88%…
-
Netflix attacked for posting AI jobs that pay $900K while writers, actors strike
[ad_1] Among the many reasons why Hollywood actors have joined screenwriters in a historic industry-stopping strike are calls for better pay, plus greater protections against the rise of artificial intelligence in developing scripts or using artist’s likenesses in movie and TV productions. So it shouldn’t come as a surprise that Netflix NFLX, -1.18% is catching…
-
I’m a single parent with 2 kids, and owe $27,000 after being scammed. What now?
[ad_1] I’m a single parent with two kids, and fell victim to an online dating scam. I have no legal recourse as I did this on my own, thinking I was helping someone. My credit has now tanked. I owe $17,000 on one credit card, and I have two loans of $5,000 each. I have my…
-
Regional-bank stocks move up after PacWest deal suggests stabilization in sector
[ad_1] Regional-bank stocks rose Wednesday as hard-hit PacWest Bancorp agreed to be acquired by Banc of California in a sign that the hangover from bank failures earlier this year may be receding. “The implied take out price of $9.60 is higher than many estimated, with ‘[PacWest] resolution’ a net positive for the banking sector,” KBW…