Tuesday 26 October 2021

Reuters Business: Wall Street closes at record but Facebook weighs

Wall Street closes at record but Facebook weighs

U.S. stock indexes closed modestly higher on Tuesday, with the Dow Industrials and S&P 500 hitting fresh records, and gains were subdued as Facebook shares fell in the wake of its quarterly earnings.

U.S. SEC obtains asset freeze to halt alleged penny stock scheme on Twitter

The U.S. Securities and Exchange Commission said on Tuesday it filed an emergency action, and obtained an injunction and asset freeze, against an individual for allegedly committing securities fraud through a scheme to manipulate stocks using Twitter.

Visa beats profit estimates on travel, online spending boom

Visa Inc reported a rise in quarterly profit on Tuesday that beat Wall Street estimates, as the world's largest payment processor benefited from a pickup in travel with economies reopening worldwide and more people shopping online.

Robinhood quarterly revenue jumps on crypto boost

Robinhood Markets Inc posted a 35% jump in third-quarter revenue on Tuesday, as cryptocurrency trading helped offset the hit from retail investors becoming less active after powering a frenzied rally in so-called "meme stocks" earlier this year.

Twitter falls short of user estimates, avoids hit from Apple privacy changes

Twitter Inc on Tuesday missed Wall Street expectations for user growth as it faced competition from rival apps like TikTok for people's time, while it reported quarterly revenue in line with estimates.

Alphabet beats sales estimates, posts record profit again on Google ad surge

Google owner Alphabet Inc on Tuesday beat expectations for third-quarter revenue, a positive sign that its advertising business is overcoming new limits on tracking mobile users.

Texas Instruments fourth-quarter revenue outlook below estimates

Texas Instruments Inc forecast fourth-quarter revenue largely below Wall Street estimates on Tuesday, as the company struggles with supply chain constraints that have plagued the entire chip industry.

Microsoft beats quarterly revenue estimates on cloud boost

Microsoft Corp beat Wall Street expectations for quarterly revenue on Tuesday, as demand soared for the software giant's cloud-based services from businesses adopting hybrid work models.

Wall Street hits record but Facebook weighs

U.S. stock indexes closed modestly higher on Tuesday, with the Dow Industrials and S&P 500 hitting fresh records, and gains were subdued as Facebook shares fell in the wake of its quarterly earnings.

Stellantis to complete restructuring of Turin plants by mid-January

Carmaker Stellantis and unions reached an agreement on Tuesday on a planned restructuring of the group's production in the Italian city of Turin, which will be completed by mid-January, FIM, UILM, FISMIC, UGLM and AQCFR unions said.

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