 | | | | PayPal Holdings Inc posted a 87.4% slump in quarterly profit on Wednesday as COVID-19 lockdowns hit consumer spending and forced the payments processor to boost its credit loss reserves, sending its shares down 3.7% in extended trading. | | | | | | The S&P 500 and the Dow fell on Wednesday as declines in financials and defensive groups countered gains in tech shares and as data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak. | | | | | | The U.S. Department of Commerce is close to signing off on a new rule that would allow U.S. companies to work with China's Huawei Technologies on setting standards for next generation 5G networks, people familiar with the matter said. | | | | | | Lyft Inc on Wednesday surprised investors with higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable as the U.S. coronavirus lockdown batters the economy. | | | | | | T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, thanks to cheaper plans compared to its rivals and a surge in demand for phone services as people work from home amid lockdowns. | | | | | | Fox Corp beat Wall Street estimates for third-quarter revenue and profit on Wednesday as Super Bowl broadcast boosted television viewership, sending the company's shares up more than 2% in extended trading. | | | | | | Oil prices slid and world equity markets seesawed on Wednesday as investor hopes for a pickup in business activity were dashed by downbeat economic data and a rise in U.S. crude stockpiles to three-year highs that highlighted low fuel demand. | | | | | | Facebook Inc's new content oversight board will include a former prime minister, a Nobel Peace Prize laureate and several constitutional law experts and rights advocates among its first 20 members, the company announced on Wednesday. | | | | | | Facebook Inc on Wednesday named the first members of its independent oversight board, which will be able to overturn the company's decisions on individual pieces of content and recommend policy changes. | | | | | | The New York Times Co crossed five million digital subscribers, adding a record number and withstanding a heavy drop in ad revenue in the first quarter that was dominated by heavy news coverage around the COVID-19 pandemic. | | | | | | Big gains in small caps stocks are fueling hopes that a bounce in broader equity markets may stick, as investors ponder how quickly the U.S. economy can emerge from its coronavirus-fueled slowdown. | | | | | |
