Thursday 29 October 2020

Stocks rally to pare weekly loss; oil falls further

Stocks rally to pare weekly loss; oil falls further

Crude oil fell again on Thursday as lockdowns in Europe and rising cases elsewhere clouded the energy demand outlook, while stocks rose as Wall Street rallied.

Facebook warns of tough 2021 as pandemic boosts ad revenue

Facebook Inc on Thursday warned of a tougher 2021 despite beating analysts' estimates for quarterly revenue as businesses adjusting to the global pandemic continued to rely on the company's digital ad tools.

Weak iPhone sales pull down Apple shares

Apple Inc's announcement Thursday that iPhone sales were weaker than expected sent shares down 4% even as the tech company's revenue and profit did better than Wall Street expected thanks to booming Mac and AirPods sales.

Rushed discussion before Huawei CFO's detention missed potential violations, border official says

The impending arrival of Huawei Chief Financial Officer Meng Wanzhou at a Canadian airport two years ago meant discussions about the best way to apprehend her, including potential civil rights violations, had to be cut short, a border officer told a court on Thursday.

Canada's attempt to get part of Huawei CFO's case against U.S. extradition denied

The Canadian attorney general's attempt to get part of Huawei Chief Financial Officer Meng Wanzhou's arguments against her extradition to the United States dismissed has been denied, a ruling released on Thursday showed.

Starbucks sees better-than-expected earnings for 2021

Starbucks Corp forecast 2021 earnings largely above estimates on Thursday, helped by strong online orders and a recovery in demand following the initial hit from the COVID-19 pandemic.

Amazon forecasts jump in holiday sales - and pandemic costs

Amazon.com Inc on Thursday reported record profit for the second consecutive quarter and forecast a jump in holiday sales, as consumers continued to shop more online during the novel coronavirus pandemic.

Alphabet sales growth back as Google flooded with advertisers

Google parent Alphabet Inc on Thursday returned to sales growth in the third quarter, beating analysts' estimates, as businesses initially hobbled by the coronavirus pandemic resumed advertising with the internet's biggest supplier of ads.

Twitter misses user growth expectations, shares drop 13%

Twitter Inc on Thursday added fewer users than Wall Street had expected and said expenses would accelerate in the current quarter, sending its shares tumbling 13%.

Apple's subscription bundle of news, music and services to launch Friday

Apple One, the bundle of Apple Inc's paid online services, will launch on Friday, Chief Executive Tim Cook told Reuters in an interview.

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