Tuesday, 6 February 2018

Wall Street roars back in whipsaw session

Wall Street roars back in whipsaw session

NEW YORK (Reuters) - U.S. stocks posted sharp gains in another wild trading session on Tuesday, as indexes rebounded from the biggest one-day drops for the S&P 500 and the Dow in more than six years that stalled the market's record run.

Disney profit beats estimate on strength in parks business

(Reuters) - Walt Disney Co, which is buying some of Fox's film and TV units, on Tuesday trounced analysts' estimate for quarterly profit, as strong attendance at its theme parks and resorts helped offset another drop in subscribers at ESPN.

Snap's user growth, revenue beat analyst expectations, shares soar

(Reuters) - Snap Inc said on Tuesday it added more users than expected to its Snapchat messaging app as it fights to fend off competition from Facebook Inc's Instagram, sending it shares up by nearly 30 percent.

Apple sees 'strong demand' for replacement iPhone batteries: letter

WASHINGTON/SAN FRANCISCO (Reuters) - Apple Inc has seen "strong demand" for replacement iPhone batteries and may offer rebates for consumers who paid full price for new batteries, the company said in a Feb. 2 letter to U.S. lawmakers made public on Tuesday.

U.S. regulators may ask Congress for virtual currency legislation

WASHINGTON (Reuters) - U.S. regulators may ask Congress to pass legislation to improve oversight of virtual currencies like bitcoin amid concerns about the risks posed by the emerging asset class, the head of the Securities and Exchange Commission said on Tuesday.

Treasury's Mnuchin says he wants answers on Equifax breach

WASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin on Tuesday said he wants to know how the Consumer Financial Protection Bureau is handling a probe into a hack of credit bureau Equifax Inc after a report that the agency's chief has pulled back from investigating the matter.

In trade-secrets trial, subdued Kalanick says Uber trailed in self-driving cars

SAN FRANCISCO (Reuters) - Former Uber Chief Executive Officer Travis Kalanick testified at trial on Tuesday that he believed Uber was lagging in self-driving car development and came up with a plan to hire a star engineer from rival Waymo to catch up with competitors.

BlackRock says it sees opportunity to take on more market risk

NEW YORK (Reuters) - BlackRock Inc's Investment Institute said on Tuesday that the swoon in stock markets is "contained" and that it sees an opportunity to take on more risk, particularly in emerging market equities.

Chipotle restaurant sales rise slightly after price increases

(Reuters) - Chipotle Mexican Grill Inc on Tuesday reported a slightly better-than-expected rise in sales at established restaurants, boosted by menu price increases, as it works to regain customer trust after food safety lapses in 2015.

Bitcoin bounces back from three-month low in volatile trade

NEW YORK (Reuters) - Bitcoin rallied from three-month lows below $6,000 in choppy trading on Tuesday, but worries lingered about a global regulatory clampdown and moves by banks to ban buying bitcoin with credit cards.

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