Facebook Profits Top $10B as Revenue SoarsFacebook doubled its profit in the second quarter thanks to a massive increase in advertising revenue, especially the average price of ads it delivers to its nearly 3 billion users.
Coinbase Soars In Market Debut, Valued Near $86 BillionSan Francisco-based Coinbase made a rousing debut on Wall Street Wednesday, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.
Family Sues Robinhood After Stock Trader Kills Himself Mistakenly Believing He Lost $700KA family has filed a lawsuit against Robinhood Financial claiming the company's practices led to their son's suicide because he mistakenly believed he lost $700,000.
Tesla Short Sellers Lost More Than The US Airline Industry This YearThe incredible year for Tesla stock has created a bloodbath for those shorting the Bay Area-based electric carmaker's shares.
Dow Tops 30,000 For First Time; Tesla's Elon Musk Surpasses Bill Gates On Personal Wealth List It's been quite a month for San Francisco Bay Area tech guru Elon Musk. Space X has successfully launched a crew to the International Space Station and also lifted the Sentinel-6 satellite into orbit and now Tesla has helped fuel the stock market's historic climb.
Dow Soars Over 1,500 Points In Early Trading; Mixed Results Among Tech StocksWhile the Dow soared at the opening bell -- fueled by Pfizer announcing promising vaccine news and Joe Biden's election to the White House -- three of the cornerstones of Silicon Valley's FAANG stock engine were actually bucking the trend.
Charles Schwab Plans To Lay Off 1,000 Employees Following TD Ameritrade MergerCharles Schwab said Monday that it is laying off 1,000 employees just weeks after completing its acquisition of TD Ameritrade.
Salesforce To Cut 1000 Jobs After Record Sales, Stock SurgeSalesforce plans to cut about 1,000 jobs, or less than 2% of its workforce, after it announced record-high sales of more than $5 billion.
Airbnb Files Preliminary Paperwork for Public Stock OfferingAirbnb on Wednesday filed preliminary paperwork for selling stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business.
Lyft's 2Q Loss $437M As Riders Stay Home During PandemicLyft posted a loss on Wednesday of $437.1 million for the second quarter, when the coronavirus outbreak meant few people were looking to use its ride-hailing service.
News Of California's Reopening Rollback Sends Stocks Into ReverseWall Street got a painful reminder of the threat the coronavirus pandemic poses to the economy Monday, and a big early gain for stocks suddenly flipped to losses after California rolled back its reopening plans amid a spike in cases.
Stocks Surge To Highest Levels Since Shutdown As U.S. Death Toll Nears 100,000Stocks surged on Wall Street to their highest levels since the business shutdowns took hold in the U.S. over two months ago, climbing on optimism Tuesday about the reopening economy even as the nation’s official death toll from the coronavirus closed in on 100,000.
Tech, Health Care Stocks 'Resilient' Amid Widespread Losses During COVID-19 PandemicEven with the coronavirus pandemic throwing the global economy into disarray, tech stocks in the S&P 500 have been remarkably resilient. They’re up 4.1% for 2020.
Wall Street, Tech Stocks Suffer Opening Bell 2,000-Point Sell-Off; Trading Halted For 15 Minutes After Steep Decline After two weeks of steady declines, Wall Street was bracing for a steep tumble fueled by coronvirus fears and an oil price war between OPEC countries and Russia at Monday's opening bell as Dow futures shed nearly 1,300 points in overnight trading.
Wells Fargo 4Q Profit Slides, Hurt By Lower Interest RatesWells Fargo's net income tumbled in the fourth quarter, weighed down by hefty costs and a lower interest rate environment.