Snap misses quarterly revenue estimates, shares sink
Snap Inc missed Wall Street estimates for fourth quarter revenue on Tuesday as it faced tough competition from digital advertising giants Google and Facebook, sending its shares down 10%.
State AGs, Justice Department discuss Google antitrust probe
State attorneys general investigating Alphabet Inc’s Google unit met on Tuesday with U.S. Justice Department officials to coordinate efforts to probe the search and advertising giant, officials told Reuters.
Macy’s to close 125 stores, cut more than 2,000 jobs
Macy’s Inc said on Tuesday it plans to close 125 of its least productive stores over the next three years to tackle slowing mall traffic and will slash more than 2,000 corporate jobs as a part of a cost-savings effort.
Ford posts $1.7 billion loss, offers weak 2020 forecast
Ford Motor Co on Tuesday posted a fourth-quarter loss and provided a weaker-than-expected 2020 forecast due to continued higher warranty costs, investments in future transportation and lower results from Ford Credit, sending shares down 9.5% in after-h…
Best Buy board clears CEO of misconduct allegations
U.S. consumer electronics retailer Best Buy Co said on Tuesday its board had cleared Chief Executive Officer Corie Barry of misconduct allegations following an independent review.
Chipotle’s earnings beat estimates on higher prices, delivery boost
Chipotle Mexican Grill Inc beat analysts’ estimates for quarterly comparable sales and profit on Tuesday, benefiting from higher menu prices and expanded delivery options.
Wall Street jumps as China stimulus measures soothe virus worries
The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six months as fears of a heavy economic impact from the coronavirus outbreak waned after China’s central bank intervened.
Intercontinental Exchange offers to buy eBay: WSJ
Intercontinental Exchange Inc, owner of the New York Stock Exchange, has made an offer to buy eBay Inc in a deal that could value the ecommerce company at more than $30 billion, the Wall Street Journal reported on Tuesday.
Oil falls 1% as demand fears outweigh hopes for bigger OPEC+ cuts
Oil prices sank about 1% on Tuesday as fears that energy demand would take a long-term hit from the growing coronavirus outbreak outweighed hopes for more production cuts from OPEC and its allies.
ConocoPhillips’ outlook weighed down by coronavirus, disruptions in Malaysia, Libya
ConocoPhillips issued a muted annual outlook on Tuesday, expecting a hit from weaker oil demand growth due to the coronavirus outbreak and disruptions at its operations in Malaysia and Libya.
