Buffett's Berkshire expected to post a quarterly earnings surge as market comeback boosts portfolio

Investors are preparing for a variety of news in Berkshire Hathaway's second-quarter earnings report this weekend, ranging from the possibility of record overall net income to weaker operating results from the conglomerate's industrials companies. Wall Street also hopes that Berkshire, which is expected to report per-share earnings of $2.12 and revenues of $61.08 billion per StreetAccount estimates, may have ramped […]

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Stocks making the biggest moves midday: FedEx, T-Mobile, Uber & more

Check out the companies making headlines in midday trading.  T-Mobile — Shares of the wireless provider surged more than 8% to a new 52-week high on Friday following its better-than-expected quarterly earnings. T-Mobile earned 9 cents on revenue of $17.67 billion, compared to estimates of 7 cents on revenue of $17.61 billion, according to Refinitiv. Groupon — Shares of  Groupon soared […]

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Canada Outpaces U.S., Recouping 55% of Jobs Lost to Pandemic

Canada’s economy recorded a third straight month of strong employment gains that have recouped more than half of losses from Covid-19. Employment rose by 418,500 in July, bringing to 1.7 million the number of jobs reclaimed over the past three months. Canada lost 3 million jobs in March and April at the height of the pandemic. The employment rebound in […]

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5 things to know before the stock market opens on Friday

U.S. stock futures remained slightly lower on Friday morning after the government reported that jobs had risen by a better-than-expected 1.763 million in July. Economists polled by Dow Jones had projected 1.264 million new jobs.  The unemployment rate fell from 11.1% to 10.2%, also better than the estimates from economists surveyed by Dow Jones. After the report, Dow Jones Industrial Average futures were down […]

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Gold Futures Extend Gains, Set Another New Closing High

Gold prices moved higher on Thursday, extending gains to a fifth straight day thanks to safe-haven demand amid a weak dollar and sluggish equity markets due to persisting worries about economic growth. Despite a drop in unemployment claims, worries about the economy lingered due to an increase in new coronavirus cases in several states across America. The dollar index, which […]

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Romans: Don't trust companies to protect your data

New York (CNN Business)The US government and Federal Reserve on Thursday took action against Capital One in response to the bank’s massive 2019 data breach. The Fed filed a cease and desist order, laying out steps Capital One (COF) must take to improve its risk-management program and internal controls related to cybersecurity and information security. It’s part of consent orders […]

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Hilton predicts it'll take between 2 and 3 years for hotels to bounce back after coronavirus pandemic

Coronavirus could permanently shutter 8,000 US hotels by September Some hotels are closing for good as a result of the coronavirus pandemic. FOX Business’ Kristina Partsinevelos with more. Hilton Worldwide Holdings Inc. announced on Thursday that it expected it to take at least two years for the hotel chain to rebound after the coronavirus pandemic. Continue Reading Below The company based […]

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Hear from first US participant to receive Moderna Phase 3 trial vaccine

New York (CNN Business)Moderna, one of the companies working on a treatment for Covid-19, said Wednesday that it’s on track to finish enrollment for a phase 3 study of its vaccine by the end of September. The biotech, which has received funding from the United States’ Operation Warp Speed program, also said it had about $400 million of customer deposits […]

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ADP’s U.S. Job Data Misses Estimates, Signaling New Virus Drag

Payroll gains at U.S. companies slowed sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market and the economic recovery. The 167,000 in business payrolls last month followed an upwardly revised 4.31 million increase in June, according to ADP Research Institute data released Wednesday. The July increase trailed all estimates in a Bloomberg […]

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