Business

2024-08-11

Stocks making the biggest moves after hours: PARA, EXPE, ELF

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Check out the companies making headlines in after-hours trading. Paramount Global — The media company jumped 5.7% after posting a massive earnings beat for the second quarter, reporting earnings of 54 cents per share while analysts polled by LSEG called for 12 cents per share. Paramount’s revenue of $6.81 billion for the period fell short of the estimated $7.21…

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2024-08-10

Paramount Global (PARA) Q2 earnings report 2024

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The Paramount Studios in Los Angeles on April 29, 2024. Eric Thayer | Bloomberg | Getty Images Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media. Paramount has identified $500 million in cost savings, which include the head count reductions,…

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2024-08-10

Trump says he should get a say on Federal Reserve interest rate decisions

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Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida.  Joe Raedle | Getty Images Republican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest rates. “I feel the president should have…

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2024-08-10

Warner Bros. Discovery CEO Zaslav facing pressure to deliver value

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David Zaslav attends the world premiere of “The Flash”, in Hollywood, Los Angeles, California, U.S., June 12, 2023. Mike Blake | Reuters Warner Bros. Discovery CEO David Zaslav needs a win. Soon. Since merging Discovery with WarnerMedia in 2022 and immediately slashing billions in costs, Zaslav has struggled to convince shareholders that his company is a worthy investment. Warner…

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2024-08-09

JPMorgan raises 2024 recession odds to 35%

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JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. That’s…

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2024-08-09

Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market

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Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the Labor Department said Thursday….

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2024-08-09

Boeing’s new outsider CEO Kelly Ortberg takes the helm

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Robert K. “Kelly” Ortberg is the Boeing’s new president and chief executive officer, effective August 8, 2024. Ortberg will also serve on Boeing’s Board of Directors. Courtesy: Boeing Aerospace veteran Robert “Kelly” Ortberg becomes Boeing‘s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. That enormous goal will involve thousands of daily…

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2024-08-09

Eli Lilly (LLY) earnings Q2 2024

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Eli Lilly on Thursday reported second-quarter earnings and revenue that blew past expectations and hiked its full-year revenue outlook by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight loss injection Zepbound spike. Shares of Eli Lilly closed more than 9% higher on Thursday. The drugmaker now expects revenue for the year to come in between…

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