- 2020-01-29 00:31:21Z
(Bloomberg) -- AT&T Inc. topped earnings estimates as cost cuts helped offset steep TV-subscriber losses and higher spending on its media business, a positive sign as the company tries to mend its balance sheet and turn attention to the launch of its HBO Max streaming service.Fourth-quarter earnings excluding one-time items were 89 cents a share. Analysts had predicted 87 cents, according to estimates compiled by Bloomberg. The company, which operates DirecTV, the largest U.S. TV service, lost 1.2 million subscribers, more than the 640,000 decline analysts expected.See more details.Key InsightsThe record annual loss of 4.1 million U.S. TV subscribers that AT&T reported for last year...
The results marked a fourth consecutive quarter that GE beat its own earnings and cash flow targets, reinforcing a view that Chief Executive Officer Larry Culp is progressing in turning around the ailing conglomerate, which makes jet engines, power plants, medical imaging equipment and other industrial goods. Free cash flow from industrial operations was $3.9 billion in the fourth quarter, beating analysts estimates of $3.4 billion, according to Refinitiv data. GE's cash flow typically surges in the fourth quarter as workers rush to ship units and book orders by year-end.
French startup Bankin' has introduced Bridge Pay this week, an API that lets you initiate payments using bank transfers from your app. Think about it as a sort of Stripe, but for bank transfers. The API currently covers 12 major French banks, which represent around 90% of retail bank accounts in France
A U.S. judge Tuesday sentenced a socially awkward math whiz-turned-futures trader who earned tens of millions of dollars over several years and helped trigger a U.S. stock market "flash crash" from his parents' suburban London home to time served and a year's home confinement, sparing him imprisonment
(Bloomberg) -- Tim Hortons restaurants have stopped selling Beyond Meat products at its coffee and donut shops across two of Canada's biggest provinces.The chain had been serving the Beyond Burger and a Beyond Meat breakfast sandwich made with the company's imitation sausage products. After an initial launch starting in June at nearly 4,000 Canadian locations, the items were scaled back to the provinces of Ontario and British Columbia in September."We introduced Beyond Meat as a limited time offer. We are always listening to our guests and testing new products that align to our core menu offerings. We may offer Beyond Meat again in the future," Tim Hortons said in an e-mailed...
Apple's much-awaited online store in India will be operational starting Q3 this year, a little longer than previously expected, a source familiar with the matter told TechCrunch. While the company never shared a firm timeline on when the online and brick-and-mortar stores would be set up in India,
Match Group, home to Tinder, Match, OkCupid, PoF and a host of other online dating apps, announced today that CEO Mandy Ginsberg would be stepping down from her position after 14 years with the company. Assuming her position is Shar Dubey, currently the president of the Match Group, who will begin
Research presented at the ACM FAT 2020 conference in Barcelona today supports the notion that YouTube's platform is playing a role in radicalizing users via exposure to far-right ideologies. The study, carried out by researchers at Switzerland's Ecole polytechnique fédérale de Lausanne and the
The team behind Product Hunt is launching a new social network called YourStack, a platform aiming to connect people that are passionate about products and help them discover what things their friends love. "It's super simple, you just search through and create a stack of products you love
Facebook's internal "Supreme Court" can't set precedents, can't make decisions about Facebook Dating or Marketplace, and can't oversee WhatsApp, Oculus, or any messaging feature, according to the bylaws Facebook proposed today for its Oversight Board. Oh, and this Board can
- Record quarterly revenue of $2.13 billion; record annual revenue of $6.73 billion - - Gross margin expanded to 45 percent in Q4 2019 and 43 percent for 2019 - SANTA.
A little-known payments processor, which bills itself as a Christian-friendly company that does "not process credit card transactions for morally objectionable businesses," left a database containing years' worth of customer payment transactions online. TechCrunch identified its owner
Navinder Sarao, who had traded from a bedroom in his parents' west London home, briefly caused havoc on Wall Street in 2010The story of the British day trader charged with triggering a trillion-dollar "flash crash" that caused havoc on Wall Street in 2010 ended where it began on Tuesday with a judge
It's been a rough year for cannabis stocks and even though Aurora Cannabis (NYSE: ACB ) is one of the most notable companies in the sector, it had its fair share of struggles in 2019. Following that yearlong ...
Facebook is making its "Off-Facebook Activity" tool, which allows users to manage and delete the data that third-party websites and apps share with Facebook, available to all users worldwide. The feature was first introduced in 2018 at Facebook's annual developer conference, but only launched to users
Data visualization, better infrastructure, and a reimagined health care system could change the course of the outbreak.
GM has improved its hands-free driving assistance system Super Cruise, adding a feature that will automatically change lanes for drivers of certain Cadillac models, including the upcoming 2021 Escalade. This enhanced version of Super Cruise, which will include better steering and speed control, puts
Small satellite launch company Virgin Orbit is teaming up with Israel's ImageSat International (ISI) to develop a launch services that would be able to deliver small satellite-based Earth observation on remarkably short notice, basically anywhere in the world. This is a service aimed specifically
Securiti.ai, a San Jose startup, is working to bring a modern twist to data governance and security. Today the company announced a $50 million Series B led by General Catalyst with participation from Mayfield. What is attracting all of this investment in such a short period of time is that the company
Congresswoman Kathy Castor (D-Florida) is calling on YouTube to stop including climate change misinformation in its recommendation algorithm and to demonetize videos that deny climate change. In a letter addressed to Google CEO Sundar Pichai, Castor references a report by Avaaz, which claims that YouTube
State and federal authorities sued imprisoned entrepreneur Martin Shkreli on Monday over tactics that shielded a profitable drug from competition after a price hike made the so-called "Pharma Bro" infamous. Shkreli was scorned as the bad-boy face of pharmaceuticals profiteering after he engineered a
Miso Robotics, the designers of the world's most popular robotic fry cook "Flippy", is giving their burger-flipping, french fry prepping robot a new look. The company has designed a new installation for its robotic arm that slots under the hood above a fry station instead of planting the
Ahead of the launch of Pokémon Home sometime next month, Nintendo has shared pricing for the upcoming cross-platform storage and transfer service. A month of the Premium subscription to Pokémon Home will set you back $3 every 30 days. Nintendo also plans to offer quarterly and annual subscription
Longtime pilot Ara Zobayan told air traffic controllers in his last radio message that he was climbing to avoid clouds.
Facebook is making its "Off-Facebook Activity" tool, which allows users to manage and delete the data that third-party websites and apps share with Facebook, available to all users worldwide. The feature was first introduced in 2018 at Facebook's annual developer conference, but only launched
ServiceNow announced this morning that it has acquired Passage AI, a startup that helps customers build chatbots in multiple languages, something that should come in handy as ServiceNow continues to modernize its digital service platform. With Passage AI, ServiceNow gets a bushel of AI talent, which
Chatbots have had a patchy track record world of tech, where early efforts not only failed to deliver on the magical idea of a computer producing the exact answers you were looking for in a chat-based-Q&A, they even produced surprising (and not in a good way) results instead. Things have moved along
Chipotle was hit with a $1.3 million fine over more than 13,000 child labor violations at its Massachusetts restaurants, the state's attorney general announced Monday. Attorney General Maura Healey ordered the largest child labor penalty ever issued by the state against the Mexican restaurant chain
Harley-Davidson Inc on Tuesday reported a larger-than-expected decline in its motorcycles revenue, hurt by a continuing slide in retail sales in the United States, sending its shares plunging in pre-market trade. The company said revenues at its motorcycles, parts & accessories and general merchandise segment fell 8.5% to $874.1 million in the fourth quarter from a year ago. Harley's challenges in the United States, which accounts for more than half of sales, are well documented - core customers are growing older and efforts to attract new and young riders have yet to show results.
The largest U.S. drugmaker is spinning off its struggling Upjohn unit, which houses off-patent drugs including Lyrica and Viagra, and separated its consumer health business last year to focus on its more profitable drugs. The company's total revenue fell 9% to $12.69 billion in the fourth quarter, with Lyrica sales sinking 68% to $433 million due to competition from generic drugs. Sales of breast cancer drug Ibrance, a growth driver for Pfizer, rose 13% to $1.28 billion in the quarter, but missed the consensus estimate of $1.35 billion, according to IBES data from Refinitiv.
In line with improving earnings results, six large-cap stocks are poised to beat earnings estimates next week.
McDonald's Is Finally Introducing Long-Awaited Chicken Sandwiches to its Breakfast Menu
Marketing and sales automation -- tools that leverage the advances and data of our digital age to better identify and then interact with customers -- is big business, with the whole market expected to generate some $6.6 billion in revenues for related companies by 2025. There is an alternative trend
The proliferation of data breaches based on leaked passwords, and the rising tide of regulation that puts a hard stop on just how much user information can be collected, stored and used by companies have laid bare the holes in simple password and memorable-information-based verification systems. The
Grocery picking service Instacart is dabbling with on-demand food delivery, announcing the launch in Florida of a pre-made meals delivery option that shoppers can tag onto a bigger supermarket order. It's partnering with US supermarket chain Publix for the initial launch of Instacart Meals -- offering
Jan.28 -- Janet Mui, global economist at Cazenove Capital, discusses the outlook for emerging markets in 2020. She speaks on "Bloomberg Markets: European Open."
The Trump administration is poised to add several African countries to a U.S. travel ban list, including Africa's top tech hub, Nigeria. Politico first reported the White House is considering Tanzania, Eritrea, Sudan and Nigeria for new travel restrictions, to coincide with the three-year anniversary
InterviewBit, a Bangalore-based startup that runs an advanced online computer science program for college graduates and young professional engineers, has raised $20 million in one of the largest Series A financing rounds in the education sector. The five-year-old startup's Series A round was led by
(Bloomberg) -- Apple Inc.'s China-centric manufacturing base is at risk of disruption after the Lunar New Year holiday as the company's partners confront the coronavirus outbreak that has gripped the country and caused more than 100 deaths.Virtually all of the world's iPhones are made in China, primarily
(Bloomberg) -- Follow Bloomberg on Telegram for all the investment news and analysis you need.One way the rich get richer is through inheritance, and they're barely paying taxes on it.Americans are projected to inherit $764 billion this year and will pay an average tax of just 2.1% on that income, New York University law professor Lily Batchelder estimates in a paper published Tuesday by the Brookings Institution.By contrast, the estimated tax on work and savings is 15.8%, more than seven times higher. Many higher-income workers pay far more, with the top marginal rate now 37% plus payroll taxes."If anything, we should be taxing income from inheritances at higher rates than income from...
An end of the year filing with the United States Securities and Exchange Commission by Jeff Bezos showed that he now exercises sole voting authority on about 19.49 million additional shares. This is about 202,000 less than the 19.7 million shares awarded to Mackenzie Bezos as part of the couple's divorce settlement in April last year, over which the e-commerce giant's founder had retained exclusive voting rights. The shares are valued at around $370 million at Amazon's after-hours price of $1831.50 on Monday.
Main Street: Sneering hashtags like #MidnightMitch, "Saturday Night Live" skits and accusations of coverup only underscore what's really bothering Democrats: Senate Majority Leader Mitch McConnell somehow always seems to outfox them. Image: Saul Loeb/Getty Images
Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing. In early European trades, the pan-region Euro
(Bloomberg) -- It's almost as if the last decade never happened for investors of Exxon Mobil Corp. shares.Once the gold-standard of Big Oil, the stock closed Monday at its lowest since October 2010, amid a slump in oil prices due to concerns about weak demand coupled with a glut. The S&P 500 also posted its worst one-day decline since October.But for Exxon, which dropped out of the index's top 10 largest companies by market value for the first time last year, the malaise runs deeper than the state of the crude market.Chief Executive Officer Darren Woods is running a counter-cyclical strategy by investing heavily in new oil and gas assets, at a time when many investors are demanding energy...
NASA has selected Houston-based Axiom Space, a startup founded in 2016, to build the first commercial habitat module for the International Space Station (ISS). This module will be used as a destination for future commercial spaceflight missions, potentially housing experiments, technology development
CBS' streaming service, CBS All Access, credits a trio of high-profile events -- including the premiere of its new Star Trek series, "Star Trek: Picard," as well as the 62nd annual Grammy Awards, not to mention a busy month of football -- with helping it to achieve a new record for subscriber
Moons, a Mexico City-based startup that's angling to be the Invisalign for the Latin American market, has joined the ranks of Y Combinator as part of the accelerator's latest cohort. The company already has $5 million in financing in the bank from an international group of investors, including
(Bloomberg) -- Boeing Co. has received more than $12 billion of orders for a loan that will help bolster the planemaker's finances as it grapples with a crisis that's left its 737 Max grounded since March, according to people familiar with the matter.The deal may be finalized as soon as Monday, said
PrimaHealth Credit, which offers loans to borrowers to pay for medical treatment, is expanding its pitch to cover addiction treatment centers. The move into addiction treatment is both a sign of how broken the American healthcare system is when it comes to substance abuse and addiction -- and mental