Stock Market

Airbnb shares slide on lower revenue forecast despite a doubling of net income

Updated 52 mins ago

Airbnb's profit more than doubled last quarter, but management's disappointing revenue forecast sparked a roughly 7% drop in its stock in after-market trading. The San Francisco-based short-stay home sharing app said Wednesday that its net income jumped to $264 million from $117 million a year earlier, on revenue that rose 18% to $2.14 billion. Earnings per share in the quarter jumped to 41 cents; analysts surveyed by FactSet expected per-share earnings of 23 cents. Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.

Stock market today: Wall Street's lull stretches to a second day as indexes finish mixed

Updated 1 hr ago

Stock drifted to a mixed close as Wall Street remains in a lull. The S&P 500 closed little changed Wednesday, after a big three-day winning streak gave way to a slight gain the prior day. The Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite fell 0.2%. Uber Technologies slumped after reporting worse results for the latest quarter than analysts expected. Shopify tumbled after giving a forecast for slowing revenue growth. Lyft and Arista Networks revved higher after topping expectations for profit and revenue. Treasury yields ticked higher in the bond market.

Regenxbio: Q1 Earnings Snapshot

2 hrs ago

ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Regenxbio Inc. (RGNX) on Wednesday reported a loss of $63.3 million in its first quarter.

How major US stock indexes fared Wednesday, 5/8/2024

2 hrs ago

Stock drifted to a mixed close as Wall Street remains in a lull. The S&P 500 closed little changed Wednesday, after a big three-day winning streak gave way to a tiny gain the prior day. The Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite fell 0.2%. Uber Technologies slumped after reporting worse results for the latest quarter than analysts expected. Shopify tumbled after giving a forecast for slowing revenue growth. Lyft and Arista Networks revved higher after topping expectations for profit and revenue. Treasury yields rose in the bond market.

Uber, Shopify fall; Lyft, Arista Networks rise, Wednesday, 5/8/2024

Updated 2 hrs ago

Stocks that traded heavily or had substantial price changes on Wednesday: Uber, Shopify fall; Lyft, Arista Networks rise.

Grains lower, Livestock mixed

3 hrs ago

Wheat for May was off 8.75 cents at $6.16 a bushel; May corn lost 8.25 cents at $4.4550 a bushel, May oats was off .75 cent at $3.9625 a bushel; while May soybeans fell 19.25 cents at $12.1275 a bushel.

Grains lower, Livestock mixed

3 hrs ago

Grains lower, Livestock mixed

3 hrs ago

Closing prices for crude oil, gold and other commodities

3 hrs ago

Benchmark U.S. crude oil for June delivery rose 61 cents to $78.99 per barrel Wednesday. Brent crude for July delivery rose 42 cents to $83.58 per barrel. Wholesale gasoline for June delivery fell 1 cent to $2.53 a gallon. June heating oil rose 1 cent to $2.48 a gallon. June natural gas fell 2 cents to $2.19 per 1,000 cubic feet. Gold for June delivery fell $1.90 to $2,322.30 per ounce. Silver for July delivery rose 6 cents to $27.60 per ounce, and July copper fell 7 cents to $4.54 per pound. The dollar rose to 155.63 yen from 154.76 Japanese yen. The euro fell to $1.0746 from $1.0753.

The $230 billion donor-advised fund industry gets an IRS hearing

Updated 4 hrs ago

Congress and the Biden administration are considering what, if anything, should be done to tighten restrictions on donor-advised funds, an increasingly popular way for donors to set aside money to spend on charitable causes. This week, the Internal Revenue Service held a public hearing to discuss plans to regulate DAFs. The proposals include: altering the definition of what constitutes a DAF so it applies to a broader swath of accounts; expanding the definition of donor advisers to include personal investment advisers who help manage assets in DAFs; and imposing new penalties for abusing the funds. If approved, the IRS would impose a 20% excise tax on donations that provide significant benefit to the donor, among other changes.

A timeline of the collapse at FTX

Updated 6 hrs ago

FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse.

Grains mixed and Livestock lower

7 hrs ago

CHICAGO (AP) — Grain futures were mixed Wednesday in early trading on the Chicago Board of Trade. Wheat for Jul. lost 4.25 cents at $6.3075 a bushel; May corn was off 9.25 cents at $4.47 a bushel; Jul. oats rose 3.75 cents at $3.9775 a bushel; while May soybeans fell 15.75 cents at $12.24 a bushel.