Industry News

Tesla’s Market Cap Surpasses Toyota’s as Deliveries Beat Wall Street Forecasts

  The shares of Tesla Inc (Nasdaq: TSLA) skyrocketed yesterday after the electric car manufacturer revealed that it delivered roughly 90,650 cars in the second quarter of 2020, easily surpassing Wall Street forecasts, showing that the automaker was able to

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Accenture Beats Third Quarter Estimates, Narrows Fiscal Year 2020 View

  Global consulting firm Accenture PLC (NYSE: ACN) reported fiscal 2020 third-quarter earnings and revenues above the Street estimates. However, the reported Q3 earnings were slightly down from the same period last year. The company also narrowed its FY 2020

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Supermarket Kroger Revenues Surge on Covid-19 Stockpiling

  The supermarket chain, Kroger Co (NYSE: KR) reported better-than-anticipated fiscal 2020 first-quarter results, aided by COVID-19 related stockpiling by consumers. The company’s same-store sales also exceeded analysts’ estimates.  The multi-department store operator also refrained from providing outlook due to

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Food Delivery, Just Eat Takeaway, To Buy GrubHub in $7.30 Billion Deal

  European food delivery firm, Just Eat Takeaway.com NV (OTC: TKAYY, Euronext Amsterdam: TKWY-NL) is acquiring the US food delivery company GrubHub Inc (NYSE: GRUB) in an all-stock deal worth $7.30 billion. The agreement has happened after takeover talks between

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Louis Vuitton Arouses Suspicion over $16bn Tiffany takeover

  The CEO of France based Luxury goods company, LVMH Moet Hennessy Louis Vuitton Societe Europeenne (OTC: LVMUY), Bernard Arnault, has stated that his company is looking at ways to recommence discussions on the previously agreed $16.20 billion takeover of

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Trump Signs Executive Order Targeting Twitter

  Twitter, Inc. (NYSE: TWTR) is facing the heat of the White House as US President Donald Trump is on course to sign an executive order focused on social media firms, after Twitter started fact-checking tweets, including the ones from

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Department Store Macy’s Issues Gloomy Outlook

  Apparel and accessories chain Macy’s Inc (NYSE: M) stated that it anticipates a 45% decline in the first-quarter sales and the net losses could be more than $1 billion, primarily due to the Covid-19 pandemic. The company also announced

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Cisco Beats Third Quarter Earnings Estimates and Issues Upbeat Fourth Quarter View

  Routers, wireless, and security systems manufacturer Cisco Systems Inc (Nasdaq: CSCO) reported its fiscal 2020 third-quarter profit that declined from the comparable period last year. However, both earnings and revenues beat analysts’ estimates. The networking solution provider’s fourth-quarter guidance

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Bristol-Myers Squibb Beats Q1 Estimates and Reaffirms FY 2020 Profit View

  Biopharmaceutical company Bristol-Myers Squibb Co (NYSE: BMY) swung to a GAAP loss in the first quarter of fiscal 2020. However, the company’s adjusted earnings and revenues surpassed Wall Street estimates. Bristol-Myers also reconfirmed its yearly adjusted profit outlook. The

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Twitter Q1 Beats On Earnings, Issues Vague April Outlook

  The social media platform Twitter Inc (NYSE: TWTR) reported fiscal 2020 first-quarter earnings that beat analysts’ estimates, despite the negative impact to its advertisement business due to the Covid-19 outbreak. Furthermore, considering the uncertainty in the business environment caused

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