Trending
Apple reports slight year-end revenue rise
Apple snapped out of a yearlong sales funk during its holiday-season quarter. The tech giant was propelled by solid demand for the latest model of its iPhone and still-robust growth in a services division facing legal threats that could undermine its prospects.
The modest revenue growth announced Thursday as part of Apple's October-December results ended four consecutive quarters of year-over-year sales declines.
Amazon reports better-than-expected revenue
Amazon reported better-than-expected revenue and profits for the fourth quarter, driven by strong consumer spending during the holiday shopping season.
The Seattle-based e-commerce company said it earned $170 billion in revenue and $10.6 billion in profits during the last three months of 2023.
Wall Street rebounds to its best day in weeks
Wall Street burst out of its hangover, and stocks bounced back in a widespread rally following their worst day since September.
The S&P 500 rose 1.2% Thursday to recover three quarters of its sharp loss from the day before. The Dow Jones Industrial Average climbed 369 points, and the Nasdaq composite added 1.3%.
Meta posts sharp profit, revenue increase in Q4
Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the "year of efficiency."
The Menlo Park, California-based company said Thursday that it earned $14 billion, or $5.33 per share, in the October-December period.
Peloton shares hit all-time low after losses
Peloton sank to its lowest price on record after it reported another loss and gave investors a lukewarm forecast as the connected exercise company continues to struggle following its pandemic hot streak.
Sales fell to $744 million in the second quarter, which company executives consider its most important quarter. That amounts to a 6% decline from a year ago and a whopping 34% fall from two years ago.
Forced labor may taint supply chain for vehicles
A new report says automakers including Tesla, General Motors, Volkswagen and Toyota are failing to ensure they are not using forced labor as part of their China supply chains.
Human Rights Watch says it linked some of the world's largest car manufacturers to aluminum allegedly produced with forced labor by Uyghurs and other ethnic minorities in China's western Xinjiang region and other parts of the country. More than 15% of China's aluminum supply and about 9% of the global supply originates in Xinjiang.
More Americans apply for jobless benefits
The number of Americans filing for jobless benefits rose last week to the highest level in 11 weeks, though layoffs remain at historically low levels.
Applications for unemployment benefits climbed to 224,000 for the week ending Jan. 27, an increase of 9,000 from the previous week, the Labor Department reported Thursday.
Probe: Pegasus spyware hacked many in Jordan
A new report says Israeli-made Pegasus spyware was used in Jordan to hack the cellphones of nearly three dozen people, including journalists, lawyers and human rights activists.
The digital rights group Access Now says the hacking with spyware made by Israel's NSO Group occurred from 2019 until September.