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U.S. President Donald Trump signed two executive orders on Thursday giving American citizens and businesses 45 days to sever any relations with popular Chinese social media and video-sharing platform TikTok, owned by ByteDance and messaging app WeChat, a unit of gaming and internet conglomerate Tencent Holdings. Trump administration officials have urged the president to delistRead More
ViacomCBS Inc beat Wall Street’s expectations for quarterly revenue and profit on Thursday as coronavirus shut-ins of millions of American households boosted demand for streaming, sending shares up 7% before the bell. Although it logged a 12% drop in revenue, dragged down by a steep decline in advertising, the fall was less than expected andRead More
Walt Disney Co. suffered a major decline in earnings in its third fiscal quarter, illustrating the severe damage dealt with the world’s most powerful entertainment company by the COVID-19 pandemic, which has kept Disneyland closed, cratered global tourism and delayed movie releases for months. Disney’s parks, experiences and products segment showed the most pronounced impactRead More
Apple on Thursday announced in its fiscal third-quarter earnings that the Board of Directors has approved a four-for-one stock split. Apple announced a stock split on Thursday and it may not bode well for future gains in the Dow Jones Industrial Average. Apple reported a historically strong quarter of fiscal 2020 ended June 27, 2020,Read More
Exxon Mobil Corp reported a $1.1 billion loss for the second quarter on Friday, the first back-to-back quarterly loss for the U.S. oil giant in at least 36 years. Exxon stood out among its supermajor peers for not taking a large write-down on the value of its assets as the industry outlook darkens on theRead More
MasterCard Inc. shares are up 1.5% in premarket trading on Thursday after the payments giant delivered better-than-expected results for its second quarter even as revenue and earnings declined due to weaker consumer spending during the pandemic. MasterCard shares are up 3% from the beginning of the year but are still down 10.9% from their 52-weekRead More