Financial Performance

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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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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Apple and Google stocks just had their worst week in more than two years

Shares of Apple Inc. and Alphabet Inc. both suffered their largest weekly declines since the beginning days of the pandemic this week, as Big Tech companies continued to draw closer scrutiny from Wall Street. Apple’s stock AAPL, -0.19% finished down 11.2% on the week, its worst weekly performance since the week that ended March 20, …

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Atlassian stock drops 23% after earnings, potentially wiping away more than $10 billion in valuation

Atlassian Corp. shares dropped in the extended session Thursday after the business-collaboration software company’s earnings and revenue outlook fell short of Wall Street expectations as executives saw signs of economic weakness taking hold. Atlassian TEAM, +1.03% shares plummeted 23% after hours, following a 1% rise in the regular session to close at $174.17. The company …

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Qualcomm stock drops more than 7% after poor outlook, months-long chip glut

Qualcomm Inc. shares fell in the extended session Wednesday following the chip maker’s poor outlook, and estimates of about two months or more of inventory it needs to clear in its core business. Qualcomm QCOM, -4.12% shares dropped 7.6% after hours, following a 4.1% decline to close at $112.50 in the regular session. In late …

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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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Apple earnings beat as record back-to-school Mac sales outweigh a slight miss on iPhones

At the end of a woeful week for Big Tech earnings, Apple Inc. managed to top expectations on revenue and earnings with the help of Macs selling at a record pace during the back-to-school season, which outweighed a slight miss on iPhone sales. Apple AAPL, -3.05% shares bounced between slight gains and losses in after-hours …

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Opinion: Facebook and Google grew into tech titans by ignoring Wall Street. Now it could lead to their downfall

Alphabet Inc. and Meta Platforms Inc. became two of the most valuable companies in the world by largely ignoring Wall Street and its concerns about their spending and big-money acquisitions. Now, in the thick of a slowdown in ad spending and with a potential recession looming, Wall Street is sending obvious signals that the parent …

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