Amazon stock rallies after blowout quarter
Analysts cheered stabilizing AWS growth, improving retail margins and progress on cutting costs.
Financial News
Amazon reports blowout profit, beats on sales and issues optimistic guidance
Amazon posted its strongest earnings beat since the end of 2020, and gave upbeat guidance for the third quarter.
JPMorgan CEO Jamie Dimon calls Fitch Ratings U.S. downgrade ‘ridiculous’ but says it ‘doesn’t really matter’
In the wide-ranging interview, Dimon touched on topics including geopolitics, bank regulation, artificial intelligence and the direction of the economy.
AMD reports better-than-expected results even as PC market shows continued weakness
AMD reported an 18% decline in year-over-year revenue in the second quarter and issued a sales forecast that trailed analysts’ estimates.
Chinese are forking out more money for smartphones despite wider slowdown — that’s good news for Apple
The average selling price of smartphones in China is on the rise even as the overall market declines. This is positive for sales of Apple’s expensive iPhones.
Southeast Asia moves closer to economic unity with new regional payments system
The scheme is aimed to support cross-border economic activities in the goal of implementing an inclusive financial ecosystem around the region.
The Bank of Japan just shocked markets with a policy tweak — here’s why it matters
The Bank of Japan loosened its yield curve control in an unexpected move with ramifications across global financial markets.
Google, Microsoft, and Meta can’t stop talking about A.I. — here’s why Apple rarely mentions it
Apple’s AI works in the background. And the company doesn’t yell about it the way some of the other companies do. It doesn’t need to.
Intel jumps 7% as it returns to profitability after two quarters of losses
Intel management has told investors that the company’s turnaround will take time, and that it is aiming to match TSMC’s chip-manufacturing prowess by 2026.
Meta reports better-than-expected results and issues optimistic guidance for third quarter
Meta said revenue in the quarter increased 11% as the company returned to double-digit growth for the first time since late 2021.