Online home goods company Wayfair reported a jump in third-quarter revenue on Tuesday, as it beat Wall Street estimates on the top and bottom lines.The company said total net revenue increased 8.1% year-over-year.Here’s how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: 70 cents adjusted vs. 43 cents expectedRevenue: $3.12 billion vs. $3.02 billion expectedWayfair shares climbed 10% in premarket trading.For the period ended Sept. 30, Wayfair reported a net loss of $99 million, or 76 cents per share, compared to a loss of $74 million,…
Author: usaeverydaylife
Here are Tuesday’s biggest calls on Wall Street: Wells Fargo initiates Vistra Energy as overweight Wells said the utility and energy company is well positioned. “We are initiating coverage of VST with an Overweight rating, as it fits within the absolute call on IPPs [independent power producer]—similar story to our Best Idea CEG, but with slightly longer dated catalyst path.” Deutsche Bank reiterates Reddit as buy Deutsche said it’s bullish on the stock ahead of earnings on Thursday. “While Google-related referral traffic concerns remain, internal initiatives appear to be a focus, potentially giving Reddit more control of user growth including…
Shortly after the opening bell, we will be buying 220 shares of Corning at roughly $83. Following the trade, Jim Cramer’s Charitable Trust will own 440 shares of GLW, increasing its weighting to about 1% from 0.5%. Corning shares are down more than 7% in premarket trading after the specialty glass maker reported its third-quarter earnings. The results were generally better than expected, with core sales growing 14% year over year to $4.27 billion, edging the consensus forecast of $4.22 billion, and core adjusted earnings per share of $0.67, beating the consensus forecast by one penny. The company’s guidance for…
Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025.Smith Collection | Gado | Archive Photos | Getty ImagesThis is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Here are five key things investors need to know to start the trading day:1. Amazon’s cullAmazon is laying off 14,000 workers in its latest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company’s history, CNBC’s Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a…
The Grok AI logo is seen displayed on a smartphone with the Wikipedia logo in the background. Sopa Images | Lightrocket | Getty ImagesElon Musk launched an early version of an AI-powered encyclopedia called ‘Grokipedia’ on Monday, with its website temporarily crashing before coming back online hours later. The new AI service, named after xAI’s large language model Grok, has been promoted by Musk as an improved and less biased version of the popular free and web-based Wikipedia. The Tesla and SpaceX CEO announced last month that he was working on a Wikipedia rival after a suggestion from David Sacks, a fellow…
Carlos Domingo, chief executive officer of Securitize Inc., speaks during the Messari Mainnet summit in New York, US, on Thursday, Sept. 21, 2023. Photographer: Michael Nagle/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesSecuritize, the “real world assets” platform that powers BlackRock’s tokenized money market fund, will go public through a merger with a special purpose acquisition company, CEO Carlos Domingo told CNBC in an exclusive interview.The fintech firm will merge with Cantor Equity Partners II, Inc., a blank-check company sponsored by an affiliate of Cantor Fitzgerald that trades under the CEPT ticker. The deal values Securitize’s business at $1.25…
Cheng Xin | Getty Images News | Getty ImagesUnitedHealth on Tuesday raised its annual profit forecast and said it aims to grow in 2026, in a sign that the turnaround efforts under new CEO Stephen Hemsley were gaining steam.Shares of the company rose over 3% in premarket trading after third-quarter earnings came ahead of Wall Street expectations as the U.S. health insurer kept medical costs in check.Hemsley, who was at the helm of the company from 2006 to 2017, has been working to regain investor and consumer trust in the wake of an unexpected surge in medical costs, a federal…
Citi sees more upside ahead for Gold Fields on top of its already impressive year-to-date rally. The bank initiated the South Africa-headquartered gold miner at a buy rating. Analyst Ephrem Ravi’s $50 price target is about 33% higher than where shares of Gold Fields closed on Monday. The stock has soared more than 184% this year as gold prices surged to record levels above $4,000 per ounce. However, Ravi thinks the miner can build on those strong gains. GFI YTD mountain GFI YTD chart Ravi applauded Gold Fields for being the world’s eighth largest gold producer and having a diversified…
Cheng Xin | Getty Images News | Getty ImagesUnitedHealth on Tuesday raised its annual profit forecast and said it aims to grow in 2026, in a sign that the turnaround efforts under new CEO Stephen Hemsley were gaining steam.Shares of the company rose over 3% in premarket trading after third-quarter earnings came ahead of Wall Street expectations as the U.S. health insurer kept medical costs in check.Hemsley, who was at the helm of the company from 2006 to 2017, has been working to regain investor and consumer trust in the wake of an unexpected surge in medical costs, a federal…
Google CEO Sundar Pichai waves as he arrives to attend the Artificial Intelligence (AI) Action Summit at the Grand Palais in Paris, France, February 11, 2025. Benoit Tessier | ReutersAlphabet has a high bar to clear when it reports earnings Wednesday.The company’s stock price soared 38% in the third quarter, its best quarterly performance in two decades. It’s continued to rally, climbing 11% so far in October, closing at a record on Monday.With revenue growth stuck in the low teens of late, and expected to come in at 12% next year, investors have recalibrated their expectations after witnessing speedier growth…
