Cloud, Windows sales power Microsoft earnings above Wall Street estimates
Microsoft Corp on Wednesday reported fiscal second-quarter revenue and profit that beat Wall Street expectations, a sign that its Azure cloud computing services continues to grow amid a pitched battle with Amazon.com Inc’s cloud unit.
Facebook misses expectations for cost control, shares tumble
Facebook Inc reported a decline in fourth-quarter operating margins on Wednesday, missing Wall Street’s expectations that it would level off spending to improve privacy and content across its apps, and revenue growth was the slowest ever.
Airlines suspend, scale back direct flights to China amid virus fears
Global airlines on Wednesday suspended or scaled back more direct flights to China’s major cities amid an increase in travel warnings and decline in demand from passengers due to a growing outbreak of coronavirus. Fears over the spread of the flu-li…
Global stock rally loses steam, virus keeps safe-havens alive
Global equity markets closed little changed on Wednesday as strong results from Apple and others provided a lift, but concerns about the coronavirus outbreak in China kept enthusiasm in check and a safe-haven bid in gold and the dollar alive.
Petrobras workers call strike from Saturday; company says it is illegal
Workers at Brazilian oil company Petrobras approved a plan to go on strike from Saturday, protesting a plan by the state-controlled firm to close a fertilizer plant and fire its 396 workers.
PayPal forecasts 2020 profit below estimates, shares fall
PayPal Holdings Inc forecast full-year adjusted profit below analysts’ expectations as it invests in technology to fend off competition in a crowded digital payments space, sending its shares down 4%.
Exclusive: Europe wants single data market to break U.S. tech giants’ dominance
The European Union wants to create a single market in data aimed at challenging the dominance of tech giants such as Facebook, Google and Amazon, according to a European Commission proposal seen by Reuters.
Mondelez beats revenue estimates on emerging market strength; shares up 3%
Oreo cookie maker Mondelez International Inc on Wednesday beat quarterly revenue estimates on higher demand for its snacks in emerging markets, sending shares up 3%.
Investors sound out Tesla ahead of earnings report
Tesla Inc investors compiled a list of questions to the company ahead of the electric carmaker’s quarterly earnings report on Wednesday, ranging from requests for updates on the company’s insurance policy to complaints about questions asked by analysts…
S&P 500 fades to end lower after Fed policy announcement
The S&P 500 ended slightly lower on Wednesday, as an initial boost from the likes of Apple Inc , Boeing Co and General Electric Co following their quarterly results faded in the wake of the policy announcement from the Federal Reserve.
