C&E Industry News Filter

Largest U.S. Pension Buys Up Apple, Intel, Microsoft, and GE Stock

America’s largest public pension fund by assets increased positions in some of its largest stock investments in the third quarter. California Public Employees’ Retirement System bought more shares of Apple (ticker: AAPL), Intel ( INTC ), Microsoft (MSFT), and General Electric ( GE ) stock. Calpers, as the pension is known, disclosed the stock trades, …

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Binance Walks Away From Deal to Buy FTX

Crypto exchange Binance reversed course on a rescue offer for FTX, leaving the second-largest crypto exchange with an uncertain future. Binance chose not to go ahead with the acquisition following a review of the company’s finances, the exchange said.

Frackers Say Oil Production Slowing in the Shale Patch

Despite an extended streak of strong profits, shale companies are slowing their oil-field activity, keeping U.S. oil production roughly flat and offering little relief for tight global markets. What was expected to be a banner year for U.S. oil production has failed to materialize as creeping inflation-related costs, supply-chain snarls and disappointing well performance for …

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Airbnb Books Record Revenue as Travel Demand Remains Strong

Airbnb Inc. ABNB 2.00% posted its most profitable quarter to date, with record revenue bolstering the case that travel demand remains strong despite continuing challenges from rampant inflation. The home-sharing company said its results were driven by higher bookings in cities, stronger cross-border travel and longer stays. Airbnb said booked third-quarter nights and experiences, or …

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Seagate Is Slashing 8% of Its Workforce. It’s Cutting Costs as Demand Slows.

Seagate Technology was falling Wednesday after the company announced it was laying off about 3,000 workers and issued a disappointing outlook for its fiscal second quarter as demand deteriorates and high costs continue to pinch. The data-storage company said Wednesday in its fiscal first-quarter earnings report that its board approved a restructuring plan with the …

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Microsoft Reports Earnings Today. What to Expect.

Microsoft September-quarter results will reflect considerable crosswinds, as continued strong demand for cloud computing offsets weakness in the personal-computer market, and the strength of the dollar against other currencies. For the quarter, the Street expects the PC and software giant to post revenue of $49.7 billion, up 9.6% from a year ago, with profits of …

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AT&T Stock Will Outpace Verizon, Raymond James Says, Upgrading the Stock

AT&T stock comes with its risks but the telecom company will outpace rival Verizon Communications over the next few months, according to Raymond James’s Frank Louthan. On Monday, the analyst lifted his rating on AT&T stock to a Strong Buy after keeping it at Outperform since late 2019. His upgrade comes after AT&T reported strong …

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Tesla Stock Could Rebound in 3 Months. Here’s What it Would Take.

Elon Musk says that Tesla could someday be worth more than Apple and Saudi Aramco, combined. First, it needs to get through the next few months. Before Tesla (ticker: TSLA) reported third-quarter earnings this past week, investors had been hoping they would allay concerns that had been growing since the company released second-quarter numbers three …

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