Microsoft Xbox, Sony PlayStation, Nintendo: Video game earnings round-up

A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted … Read more

GE Is Building the Electricity Grid of the Future. Here’s What We Found on a Tour.

Text size GE wants to be a player in the electricity grid of the future. That will benefit its coming Vernova business. Brandon Bell/Getty Images NISKAYUNA, N. Y–In General Electric ’s sprawling research center here, you will find two Nobel Prizes won by GE scientists, Thomas Edison’s desk, and current research that could help create … Read more

Buy PayPal Stock. The Battered Payments Company Is Starting to Perk Up.

Anyone who bought PayPal Holdings stock last summer may be ruing the day. Despite popping a bit this past week, the shares, at $97, are still off 68% from their highs around $308. Memories of the stock’s skid in February, when it fell 35% over two days, may still be uncomfortably fresh in investors’ minds. … Read more

The U.S. economy has yet to face its biggest recession challenge

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an … Read more

Varda signs NASA partnerships for space factory demo flight next year

Varda co-founders Varda Space Industries Early stage Varda Space Industries has signed a pair of agreements with NASA, the company announced Friday, securing access to key technologies the company will need for the first demonstration of its space factory system. Varda’s goal is to develop a new method for manufacturing materials in space, an opportunity … Read more

Dow falls 150 points after strong July jobs report points to more aggressive Fed

Yields jump after better-than-expected July jobs report The 10-year Treasury yield surged to 2.834% Friday morning following the July jobs report, which came in well above expectations and showed solid job growth in the month. Earlier this month, the 10-year Treasury yield hit 2.5%, its lowest since April, as the bond market worried about a potential recession. … Read more

Stock futures tick up ahead of the July jobs report

Amazon to acquire iRobot in $1.7 billion deal Amazon will acquire iRobot for $61.00 per share, the consumer robot company announced on Friday. The all-cash transaction is valued at approximately $1.7 billion, including iRobot’s net debt. Shares of iRobot were halted on the news. The sale price of $61 per share is a 22% premium … Read more

Gold price in rally mode on latest geopolitical tensions but Friday’s jobs report could disrupt momentum – analysts

(Kitco News) Gold breached the coveted $1,800 an ounce level Thursday on increased geopolitical tensions between the U.S. and China. But the upcoming Friday’s employment report could disrupt momentum, according to analysts. December gold futures rose $33 on Thursday, touching a daily high of $1,812. At the time of writing, prices … Read more

Credit Suisse hit with stock and credit downgrades after earnings plunge

Speculation has emerged in recent months that Credit Suisse may be considering a capital raise. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse shares slipped on Wednesday after Goldman Sachs downgraded the stock to “sell” following credit rating downgrades from Moody’s and S&P. The embattled Swiss lender’s shares were down slightly by … Read more

We expected more from AMD’s earnings, but nothing changes our investment thesis

Advanced Micro Devices (AMD) reported better-than-expected second quarter results Tuesday after the closing bell. Revenue increased 70% year over year to $6.55 billion, beating estimates of about $6.53 billion, according to FactSet. Adjusted gross margins expanded 640 basis points year over year to 54%, beating expectations of about 53.5%. And adjusted earnings per share climbed … Read more