Scott Olson | Getty ImagesThe New Mexico attorney general has filed a lawsuit against Snap, alleging that the design and algorithmic recommendations of its social media app Snapchat “openly foster and promote illicit sexual material involving children and facilitate sextortion and the trafficking of children, drugs, and guns.”The suit calls Snapchat “a breeding ground for predators to collect sexually explicit images of children and to find, groom and extort them.”New Mexico Attorney General Raúl Torrez, who has a pending lawsuit against Facebook owner Meta alleging the company enables the sexual exploitation of children, in a statement Thursday said, “Snap has…
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Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023. JanValls | Nurphoto | Getty ImagesAs social media feeds make their seasonal shift from the Parthenon to pumpkin patches, airlines are busy preparing for the 2025 Europe travel season, a bet that strong demand for international travel will continue next summer.American Airlines on Thursday unveiled new routes to Europe for spring and summer next year. The carrier rolled out nonstop service from Chicago to Madrid starting March 30; Philadelphia to Milan starting May 23; Philadelphia to Edinburgh, Scotland, beginning May 23, back for…
Broadcom CEO Hock Tan.Lucas Jackson | ReutersBroadcom reported fiscal third-quarter results on Thursday that beat Wall Street expectations for revenue and earnings.Broadcom shares fell 7% in extended trading after guidance was in-line with expectations.Here is how the chipmaking conglomerate did versus LSEG consensus estimates for the quarter that ended Aug. 4:Earnings per share: $1.24 adjusted vs. $1.20 expectedRevenue: $13.07 billion vs. $12.97 billion expectedBroadcom projects current-quarter revenue of $14 billion, versus $1.36 per share on $14.04 billion expected.Broadcom reported a net loss of $1.88 billion, or a loss of 40 cents per share, versus net income in the year-ago quarter…
Marc Benioff, CEO of Salesforce.com, speaks during a keynote at the Dreamforce 2023 conference in San Francisco on Sept. 12, 2023.Marlena Sloss | Bloomberg | Getty ImagesSalesforce announced Thursday that it would pay $1.9 billion in cash for Own Co., a startup specializing in tools for backing up data in cloud-based applications. Salesforce intends to close the deal in the quarter ending in January 2025 if regulators give it their blessing, according to a statement.The startup, formerly known as OwnBackup, was valued at $3.35 billion in a 2021 funding round. Salesforce Ventures, the cloud software company’s venture arm, invested in…
Check out the companies making headlines in after-hours trading: DocuSign — The e-signature software company ticked up nearly 1% after posting a top- and bottom-line beat. DocuSign’s adjusted earnings of 97 cents per share for the second quarter exceeded analysts’ expectations of 80 cents per share, according to LSEG. DocuSign’s revenue of $736 million also beat estimates of $727 million for the quarter. Broadcom — The semiconductor company slipped about 6%. Broadcom said it sees $14 billion of revenue for the fiscal fourth quarter , while analysts called for $14.04 billion, per LSEG. In the fiscal third quarter, Broadcom reported…
A handful of stocks have been noticeably absent from the 2024 rally, and they might see further declines as investors jettison their losing positions to save on taxes, Wolfe Research found. Even as the major averages have stumbled to start September, they have already posted solid gains for the year. The S & P 500 is up 15% in 2024, benefiting from a surge in the information technology sector amid excitement around artificial intelligence. September kicks off a pivotal period for investors: As the year winds down, they dump big losers in their portfolio in a bid to realize capital…
Think rate cuts will save the bull market? Think again, according to Stifel. “Fed cuts are a red herring,” Stifel strategists said in a note to clients. “We have our doubts about the currently widespread belief that ‘Fed Cuts = Buy Stocks.'” Markets are expecting the central bank to lower benchmark rates by at least a quarter percentage point in a few weeks, which could give the stock market a much needed boost after a volatile period. However, Stifel thinks a big phenomenon in the bond market is spelling trouble ahead, set to put pressure on risk assets regardless of…
Former President Donald Trump, the GOP presidential nominee, speaks at the New York Economic Club in New York, Sept. 5, 2024.Adam Jeffery | CNBCNEW YORK — Former President Donald Trump on Thursday unveiled a new batch of economic policy proposals that include Tesla CEO Elon Musk’s idea of creating a government efficiency commission to eliminate wasteful federal spending, a shot at the Biden-Harris administration’s spending levels.”This commission will develop an action plan to totally eliminate fraud and improper payments within six months,” Trump said in a speech to a room full of business executives at the Economic Club of New…
Andreypopov | Istock | Getty ImagesWall Street is gearing up for one of the most important economic releases of the year Friday, when the Labor Department puts out a jobs report expected to go a long way in determining the future of Federal Reserve policy.The Wall Street consensus is for nonfarm payrolls growth of 161,000 for August and a slight decline in the unemployment rate to 4.2%, according to Dow Jones.However, recent data, including a massive downward revision to previous counts, has pointed to a sharp slowdown in hiring and has put some downside risk to that forecast.In turn, markets…
The concept of risk-adjusted returns is crucial for investors because it allows for evaluating investment returns relative to the risk taken to achieve that return. I’ll review how to look at risk for individual stocks and the overall market. And then I’ll provide a hedge for the overall market. Common sense suggests that rational investors would demand higher rates of return to take on greater risk. Assuming investors have some estimate for both the rate of return they expect over time and a method to measure the risk associated with an investment, they may compare the risk-adjusted returns between different…