Jonathan Wong
The Latest
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Exxon Mobil’s Earnings Surpass Expectations with Third-Quarter Gains
Exxon Mobil reported stronger-than-expected third-quarter earnings Friday, surpassing Wall Street projections and raising its quarterly dividend as the oil giant capitalized on robust production gains, strategic acquisitions, and steady demand. Exxon recorded $8.6 billion in net income, or $1.92 per share, beating the $1.88 per share forecast by analysts surveyed by LSEG. This performance, however, represented a slight decline from last year's $9.07 billion in net income, or $2.25 per share, as falling refining margins and lower natural gas prices softened profits. 
Exxon Mobil reported stronger-than-expected third-quarter earnings Friday, surpassing Wall Street projections and raising its quarterly dividend as the oil giant capitalized on robust production gains, strategic acquisitions, and steady demand. Exxon recorded $8.6 billion in net income, or $1.92 per share, beating the $1.88 per share forecast by analysts surveyed by LSEG. This performance, however, represented a slight decline from last year's $9.07 billion in net income, or $2.25 per share, as falling refining margins and lower natural gas prices softened profits. -
Boeing Union Strike Nears End with Sweetened Contract Offering 38% Pay Hike and Bonuses, Vote Scheduled for Monday
In a bid to end a nearly seven-week strike that has halted most of its aircraft production, Boeing has presented an enhanced contract proposal to its more than 32,000 striking machinists. This proposal, which includes a 38% wage increase over four years and an option for a $12,000 signing bonus, will go to a vote on Monday, potentially marking the end of the standoff between Boeing and its workforce. 
In a bid to end a nearly seven-week strike that has halted most of its aircraft production, Boeing has presented an enhanced contract proposal to its more than 32,000 striking machinists. This proposal, which includes a 38% wage increase over four years and an option for a $12,000 signing bonus, will go to a vote on Monday, potentially marking the end of the standoff between Boeing and its workforce. -
Comcast Considers Spinning Off Cable Networks as Streaming Takes Priority
Comcast Corporation announced on Thursday that it is considering a strategic move to separate its cable networks into a standalone entity, potentially creating a publicly traded company dedicated to its portfolio of cable channels. The decision, which would not include its NBC broadcast network or Peacock streaming service, underscores Comcast's focus on bolstering its streaming and digital assets as traditional cable television faces a steady decline. 
Comcast Corporation announced on Thursday that it is considering a strategic move to separate its cable networks into a standalone entity, potentially creating a publicly traded company dedicated to its portfolio of cable channels. The decision, which would not include its NBC broadcast network or Peacock streaming service, underscores Comcast's focus on bolstering its streaming and digital assets as traditional cable television faces a steady decline. -
Microsoft Shares Dip as Cloud Growth Slows Amid AI-Driven Data Center Constraints
Microsoft Corp. saw its shares decline following a forecast of slower growth in its cloud-computing division, reflecting the strain on the company's data center capacity as it ramps up AI infrastructure. Despite an otherwise strong quarterly earnings report, Microsoft's projections for Azure cloud revenue spooked investors, highlighting the challenge of meeting skyrocketing demand for AI-powered services while managing costly expansion efforts. 
Microsoft Corp. saw its shares decline following a forecast of slower growth in its cloud-computing division, reflecting the strain on the company's data center capacity as it ramps up AI infrastructure. Despite an otherwise strong quarterly earnings report, Microsoft's projections for Azure cloud revenue spooked investors, highlighting the challenge of meeting skyrocketing demand for AI-powered services while managing costly expansion efforts. -
Reddit Stock Soars as Social Media Giant Posts First-Ever Profit, Beats Revenue Expectations
Reddit has made a remarkable turnaround, reporting its first-ever profit in its nearly 20-year history, a significant milestone for the social media giant that went public earlier this year. Reddit's shares surged by 24% in premarket trading on Wednesday after the company announced its third-quarter earnings, which far exceeded Wall Street's expectations. 
Reddit has made a remarkable turnaround, reporting its first-ever profit in its nearly 20-year history, a significant milestone for the social media giant that went public earlier this year. Reddit's shares surged by 24% in premarket trading on Wednesday after the company announced its third-quarter earnings, which far exceeded Wall Street's expectations. -
Trump Media Stock Soars Amid Election Speculation, Surpasses Elon Musk's X Valuation
Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, has experienced a remarkable surge in stock value, climbing by more than 200% in the past month. 
Trump Media & Technology Group (TMTG), the parent company of the social media platform Truth Social, has experienced a remarkable surge in stock value, climbing by more than 200% in the past month. -
AMD Stock Plummets After Q4 Outlook Misses Expectations Despite Strong AI Growth
Advanced Micro Devices (AMD) saw its stock tumble nearly 8% in premarket trading after releasing third-quarter earnings for fiscal 2024 that, while in line with expectations, were overshadowed by a slightly lower-than-anticipated outlook for the fourth quarter. T 
Advanced Micro Devices (AMD) saw its stock tumble nearly 8% in premarket trading after releasing third-quarter earnings for fiscal 2024 that, while in line with expectations, were overshadowed by a slightly lower-than-anticipated outlook for the fourth quarter. T -
Eli Lilly Stock Plummets 10% After Missed Earnings and Profit Warning Amid Supply Challenges
Eli Lilly & Co. faced a sharp downturn in its stock price on Wednesday after the pharmaceutical giant posted disappointing third-quarter earnings and lowered its profit guidance for the year. Shares plummeted 10% in premarket trading as investors reacted to weaker-than-expected sales of the company's high-profile drugs, Zepbound and Mounjaro. 
Eli Lilly & Co. faced a sharp downturn in its stock price on Wednesday after the pharmaceutical giant posted disappointing third-quarter earnings and lowered its profit guidance for the year. Shares plummeted 10% in premarket trading as investors reacted to weaker-than-expected sales of the company's high-profile drugs, Zepbound and Mounjaro. -
Pfizer Surges in Q3 on Paxlovid Demand, Raises Full-Year Forecasts
Pfizer's third-quarter performance exceeded expectations, driven by a surge in demand for its COVID-19 treatment Paxlovid, along with steady growth from its other pharmaceutical products. The company reported $17.7 billion in total revenue for the quarter, a 31% increase from the same period last year, with adjusted earnings of $1.06 per share. This beat analyst expectations of $14.92 billion in revenue and 61 cents per share, according to FactSet. 
Pfizer's third-quarter performance exceeded expectations, driven by a surge in demand for its COVID-19 treatment Paxlovid, along with steady growth from its other pharmaceutical products. The company reported $17.7 billion in total revenue for the quarter, a 31% increase from the same period last year, with adjusted earnings of $1.06 per share. This beat analyst expectations of $14.92 billion in revenue and 61 cents per share, according to FactSet. -
Volkswagen to Close Three German Plants, Cut Pay Amid Financial Struggles
Volkswagen AG is planning to shut down at least three factories in Germany, lay off thousands of workers, and implement a 10% pay cut as part of a sweeping overhaul aimed at addressing mounting financial pressures. The automaker is grappling with weak sales, increased competition from Chinese electric vehicle manufacturers, and rising costs for energy, materials, and labor. 
Volkswagen AG is planning to shut down at least three factories in Germany, lay off thousands of workers, and implement a 10% pay cut as part of a sweeping overhaul aimed at addressing mounting financial pressures. The automaker is grappling with weak sales, increased competition from Chinese electric vehicle manufacturers, and rising costs for energy, materials, and labor.
