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Tesla posted a profit in the second quarter beating Wall Street expectations. Yahoo Finance's Myles Udland, Seana Smith, Rick Newman, and Andy Serwer break down the earnings report on The Final Round. ...
(Bloomberg) -- Jack Ma’s timing is frequently spot-on. Now, he’s signaling to a host of Chinese startups it’s time to race ahead with multi-billion-dollar stock sales before the coronavirus pandemic or trade war does more damage to the global economy.Ant Group, Ma’s financial services juggernaut, is seeking to raise about $10 billion in Hong Kong and potentially more in Shanghai for its initial public offering. That decision is likely to encourage smaller brethren to accelerate their own public debuts, catching markets at multi-year peaks and avoiding longer-term uncertainty. China has birthed more than a hundred startups valued at $1 billion or more in recent years, led by TikTok-parent ByteDance Ltd. and ride-hailing giant Didi Chuxing.“The economy has its own timeline. Right now liquidity is available, but the Chinese and global economies are fraught with risk,” argues Brock Silvers, chief investment officer for Adamas Asset Management Ltd. in Hong Kong. “Everyone thus...
Las Vegas Sands released its second quarter earnings results after the bell on Wednesday, reporting a net revenue of of $98 million, compared to the more than $3.3 billion reported over the same period in 2019. Yahoo Finance’s Jared Blikre joins The Final Round panel to break down the company’s earnings report....
(Bloomberg) -- Back-to-back bribery scandals involving utility giants in Ohio and Illinois over the last five days have given a black eye to efforts to prop up struggling U.S. nuclear plants.On Tuesday, federal officials arrested the speaker of the Ohio House of Representatives on racketeering charges tied to a bailout of two nuclear plants owned by Energy Harbor Corp., a former FirstEnergy Corp. subsidiary. Four days earlier, Exelon Corp.’s Commonwealth Edison unit agreed to pay $200 million to resolve a lobbying probe in Illinois, where nuclear plants also receive aid.The fallout in Ohio has been swift, with Democratic and Republican lawmakers calling on Wednesday for the nuclear bailout law to be repealed immediately. Shares of FirstEnergy, which received a subpoena related to the investigation, plunged the most on record, 21%. Taken together, the two scandals could undermine future efforts by utilities to seek support from lawmakers.“Fairly or not, these events add...
(Bloomberg) -- Microsoft Corp. reported disappointing quarterly sales growth in its Azure cloud-computing business, dashing optimism that growth would remain in overdrive as companies increasingly rely on internet-based services during the coronavirus outbreak.Azure revenue rose 47% in the quarter ended June 30, missing analysts’ predictions for a 49% gain and notably lower than the 59% jump of the prior quarter. Shares slipped about 2.7% in extended trading. The miss overshadowed an otherwise strong report -- revenue rose 13% to $38 billion, the software maker said Wednesday in a statement. Analysts polled by Bloomberg on average estimated $36.5 billion. Net income was $11.2 billion, or $1.46 a share, including a 5-cent charge Microsoft took for closing its retail stores, compared with estimates of $1.36 a share.“Some of the bulls were hoping for more of a beat,” said Dan Ives, an analyst at Wedbush Securities.Corporate customers have been signing up for subscriptions and...
The brand new, massive “blank-check” company, led by billionaire activist investor Bill Ackman, is looking to "marry a unicorn." Pershing Square Capital Management CEO Bill Ackman joins Yahoo Finance’s Julia La Roche and Akiko Fujita to discuss....
