Bill McDermott, chief executive officer of ServiceNow Inc., during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, US, on Thursday, July 10, 2025. David Paul Morris | Bloomberg | Getty ImagesServiceNow reported third-quarter results on Wednesday that blew past Wall Street’s estimates, with the company also approving a five-for-one stock split.Shares rose 4% after the bell.Here’s how the company did versus LSEG estimates.Earnings per share: $4.82 adjusted vs. $4.27 expectedRevenue: $3.41 billion vs. $3.35 billion expectedThird-quarter subscription revenues, which account for the bulk of the enterprise software company’s sales, totalled $3.3 billion and surpassed a $3.26…
Author: usaeverydaylife
The logo and lettering of Paramount Skydance Corporation can be seen at a Paramount stand at the Media Days in Munich (Bavaria, Germany). Matthias Balk | Picture Alliance | Getty ImagesParamount Skydance is slashing nearly 1,000 jobs beginning on Wednesday, just months after the close of its merger, according to a person close to the situation. The layoffs will eventually amount to 2,000 roles, the person said.”When we launched the new Paramount in August, we made clear that building a strong, future-focused company would require significant change – including restructuring the organization,” CEO David Ellison told employees in a memo…
DoubleLine Capital CEO Jeffrey Gundlach is dialing back his exposure to gold after the precious metal’s powerful run this year, saying it’s time for investors to rebalance as the price climbs to “nosebleed levels.” Gundlach, whose firm managed about $95 billion at the end of 2024, had recommended a 25% gold position in mid-September. Since then, the yellow metal topped $4,400 an ounce at one point before falling to about $3,977 Wednesday. “It worked out pretty well, but I don’t hold that any longer. .. with all these market moves, you really want to think about rebalancing,” Gundlach said on…
A Carvana car vending machine displays vehicles at a dealership on February 21, 2025 in Peoria, Arizona. Kevin Carter | Getty ImagesUsed car retailer Carvana reported higher third-quarter profit and revenue on Wednesday, aided by strong demand for preowned vehicles.Demand for used vehicles has remained strong as consumers flock to older cars to avoid hefty price tags on new ones caused by tariffs.”We believe tariffs have actually led us to a stronger used-vehicle market,” Cox Automotive Chief Economist Jonathan Smoke said in a report.Carvana’s shares nearly quadrupled in 2024 after its quarterly profits improved over the years aided by cost-saving…
(These are the market notes on today’s action by Mike Santoli, CNBC’s Senior Markets Commentator. See today’s video update from Mike above.) The core tenets of the bullish case for stocks were all on display and up for a test today: Insatiable AI-buildout demand, a Fed lowering rates as a precaution rather than an emergency response and a settling down of trade frictions. Most evidence is coming through with a positive tilt, confirming consensus assumptions, though the muddled market action and hawkish tone from Fed Chair Jerome Powell suggest plenty of good news was largely priced in for the moment,…
A customer carries a Chipotle bag in San Francisco, California, US, on Friday, Jan. 31, 2025. David Paul Morris | Bloomberg | Getty ImagesChipotle Mexican Grill on Wednesday reported quarterly revenue that fell short of expectations and cut its same-store sales forecast for the third straight quarter.Chipotle is expecting its full-year same-store sales to shrink by a low-single digit percentage in fiscal 2025. That’s a big change from February, when the burrito chain was projecting same-store sales would grow by a low- to mid-single digit percentage.CEO Scott Boatwright said the company is seeing “consistent macroeconomic pressures.” Traffic fell by 0.8%, the third straight…
Federal Reserve Chair Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee at the Federal Reserve on Oct. 29, 2025 in Washington, DC. Alex Wong | Getty ImagesFederal Reserve Chair Jerome Powell said on Wednesday that the artificial intelligence boom is different from the dotcom bubble of the late 1990s.”This is different in the sense that these companies, the companies that are so highly valued, actually have earnings and stuff like that,” Powell said, during a news conference following the Fed’s two-day policy meeting. AI investments in data centers and chips are also…
Treasury yields gained even after the Federal Reserve cut rates for a second time this year as central bank chief Jerome Powell indicated another easing in December was far from certain.The benchmark 10-year Treasury yield was 7 basis points higher at 4.054%. The 2-year Treasury note yield added 9 basis points to 3.582%. The 30-year bond yield rose 5 basis points to 4.598%.One basis point equals 0.01% and yields and prices move in opposite directions.Rates jumped after Powell said the following: “In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December. A further reduction in the policy rate at…
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in September.Text removed from the September statement is in red with a horizontal line through the middle.Text appearing for the first time in the new statement is in red and underlined.Black text appears in both statements.Zoom In IconArrows pointing outwards Source link
The traditional 60/40 portfolio of stocks and bonds no longer delivers the returns investors need, pushing more money into alternatives such as hedge funds and private credit, according to Jim DeWolfe, co-founder and chief investment officer at Northside Capital. Over the past 35 years, the classic 60/40 mix of global stocks and bonds has generated an annualized return of about 6.6%, and that’s before accounting for any fees, DeWolfe noted. In his view, that level of performance isn’t enough to meet the long-term return targets of most investors today, which is why so many are rethinking traditional portfolio construction. He…
