July 28, 2021

Investment

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Barclays beats profit estimates and ups shareholder payments as equities, investment banking surge
Investment

Barclays beat second-quarter profit expectations on Wednesday and boosted returns to shareholders, with its investment banking and equities businesses posting record incomes.The British lender posted a quarterly attributable profit of £2.1 billion ($2.9 billion), up from £90 million for the second quarter of 2020. Analysts had expected net reported income of £1.7 billion for the three months until the end of June, according to Refinitiv data.Equities and investment banking fees were up 38% and 27%, respectively, in the second quarter.Barclays also announced increased capital distributions to shareholders, with a half-year dividend of 2 pence per share and a further share buyback of up to £500 million.
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Dow futures decline 100 points after stocks snap five-day winning streak
Investment

U.S. stock index futures fell during overnight trading on Tuesday after the major averages pulled back from record highs, snapping a five-day winning streak.Futures contracts tied to the Dow Jones Industrial Average slid 91 points, or 0.25%. S&P 500 futures were down 0.27%, while Nasdaq 100 futures fell 0.44%.During regular trading the S&P dipped 0.47%, while the Dow shed 85.79 points, or 0.24%. At the lows of the day the 30-stock benchmark dipped more than 260 points. The Nasdaq Composite declined 1.21% for its worst daily performance since May 12. All three major averages finished Monday's session at record highs."Risk sentiment is on edge as pressure continues in Chinese equities," TD Securities wrote in a note to clients. "This comes at an inopportune time as markets are digesting the pervasiveness of a growth scare," the firm added. The sell-off for Asian markets came amid an ongoing crackdown from Beijing on tech and education companies.
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Stocks making the biggest moves after hours: Tesla, F5 Networks, Coinbase and more
Investment

In this articleCheck out the companies making headlines after the bell: Tesla — Shares of Tesla edged more than 2% higher in extended trading after the electric vehicle maker's second-quarter earnings beat Wall Street expectations on both top and bottom lines. Tesla reported quarterly adjusted earnings of $1.45 per share on revenues of $11.96 billion. Analysts estimated earnings of 98 cents per share on revenues of $11.3 billion, according to Refinitiv. Tesla reported more than $1 billion in quarterly net income and noted a $23 million impairment related to bitcoin.F5 Networks — F5 Networks shares jumped more than 5% after hours following a third-quarter earnings beat. The technology company reported adjusted earnings of $2.76 per share, compared with analysts' $2.46 per share estimate, according to Refinitiv. F5 Networks also posted revenue of $652 million versus Wall Street's $638 million projection.
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Stocks making the biggest moves after hours: Alphabet, Microsoft, Apple and more
Investment

In this articleCheck out the companies making headlines Tuesday after the bell: Alphabet — Google-parent Alphabet saw its shares jump about 3% after a blowout quarterly earnings report. The technology giant reported earnings of $27.26 per share, topping a Refinitiv forecast of $19.34 per share. Google also posted revenue of $61.88 billion, beating Wall Street's $56.16 billion projection. The company's advertising revenue rose 69% from last year.Microsoft — Microsoft shares fell more than 2% despite a better-than-expected quarterly earnings report. The tech company posted earnings of $2.17 per share, while Wall Street was looking for earnings of $1.92 per share, according to Refinitiv. The company's quarterly revenue of $46.15 billion also beat analysts' estimates. However, Microsoft's revenue from device makers for Windows licenses in the quarter fell 3%.
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Stocks making the biggest moves midday: UPS, Moderna, Tesla and more
Investment

In this articleCheck out the companies making headlines in midday trading.UPS — The logistics company tumbled over 8% after the company's second-quarter earnings report showed that domestic revenue came up shy of estimates. UPS said the total volume of U.S. deliveries declined almost 3% year over year, while the revenue from U.S. packages in the second-quarter missed expectations, according to Street Account. The company beat on top and bottom lines, however, thanks to continued strength in e-commerce orders.Polaris — Shares of the vehicle maker lost more than 6% despite beating consensus estimates in its quarterly earnings report and matching revenue projections. Polaris reported lower promotional costs and stronger pricing, but experienced higher costs for commodities and labor.
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Like prices, inflation talk is going through the roof: Morning Brief
Investment

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. SubscribeTuesday, July 27, 2021It likely comes as little surprise to readers that corporate executives can't stop talking about inflation.After all, prices across the economy rose at the fastest pace since 2008 in June — and between labor, materials and shipping, it's gotten more expensive and challenging to get just about anything done in the business world.
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China Crackdown Rout Spreads Amid Fears of Foreign Selloff
Investment

(Bloomberg) -- A rout in Chinese shares in the crosshairs of Beijing’s regulatory crackdown extended into the bond and currency markets Tuesday as unverified rumors swirled that U.S. funds are offloading China and Hong Kong assets.The speculation, which included talk that the U.S. may restrict investments in China and Hong Kong, circulated among traders in late afternoon in Asia, spurring a renewed bout of selling. The Hang Seng Tech Index, a gauge of many Hong Kong-listed Chinese stocks, plunged as much as 10%, while the yuan slid to its weakest since April against the dollar and even Chinese bonds were dumped.
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Binance CEO willing to step down as crypto exchange welcomes regulation
Investment

The boss of cryptocurrency exchange Binance says he's willing to step down from his role as the company seeks to become a regulated financial institution.Speaking at a virtual press conference Tuesday, Changpeng "CZ" Zhao said he had no immediate plans to quit his role but that the company does have a succession plan in place."We're going to pivot to be a fully regulated financial institution going forward," Zhao told reporters, adding that, during that pivot, he would be "very open" to finding a replacement CEO with more regulatory experience.Binance is the world's largest digital currency exchange by trading volume. However, it has come under intense regulatory scrutiny lately as authorities around the world seek to clamp down on the fast-growing crypto industry.
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China is still falling short of meeting an agreement to reduce its U.S. trade surplus
Investment

BEIJING — China's purchases of U.S. goods are still falling short of trade agreement levels, even as overall Chinese imports from the U.S. have surged.That's according to analysis out Monday from the U.S.-based Peterson Institute for International Economics.In January 2020, before the coronavirus pandemic and under former U.S. President Donald Trump, China agreed to buy at least $200 billion more in U.S. goods and services over the next two years, relative to the 2017 level. Known as the phase one trade deal, the purchase agreement included specific agriculture, energy and manufactured products.However, as of June, both Chinese and U.S. government data indicated that China had bought less than 70% of the year-to-date target, according to estimates from Peterson Institute senior fellow Chad P. Bown.
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CDC urges some vaccinated to wear masks again
Investment

Dr. Shereef Elnahal, University Hospital CEO, former NJDOH Commissioner, joined Yahoo Finance to discuss the latest on covid-19.
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20 Best Ways to Lose Weight
Investment

In this article, we will be looking at the 20 best ways to lose weight. If you want to skip our detailed analysis of these different diets, you can go directly to the 5 Best Ways to Lose Weight.Losing weight can become a pressing health concern for many people. When people consume more energy than what they burn, it can lead to weight gain. In certain cases, this can even lead to obesity. Obesity has been declared as an epidemic by health experts around the world. It is important to realize that gaining excess weight can cause other health issues as well such as diabetes, heart disease, and even certain types of cancer.
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US home price growth soars to a new record
Investment

Home price growth in the U.S. soared to a new record in May as the housing market continues to heat up.Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 16.6% annual gain in May, up from 14.8% in April — marking the highest reading in more than 30 years of data. It is also the 12th straight month of accelerating prices. The 20-City Composite posted a 17% annual gain, up from 15% a month earlier. The 20-City results surpassed analysts’ expectations of a 16.3% annual gain, according to Bloomberg consensus estimates.
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Passport processing delays
Investment

Yahoo Finance’s Stephanie Asymkos joins the Yahoo Finance Live panel to discuss the latest with major delays with Passports.
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Inflation, delta risks are contributing to a critical 'inflection point' on Wall Street: Federated
Investment

Longtime market bull Phil Orlando is bracing for a rough stretch because Wall Street has reached a critical "inflection point."The Federated Hermes chief equity market strategist is blaming the risk dynamic. Not only does Orlando see hotter-than-expected inflation and the Covid-19 delta variant as glaring issues, he's also worried about uncertainty surrounding monetary and fiscal policy."We're entering what is historically a seasonally choppy period of time, and we've got a bunch of things that are coming together at the same time," he told CNBC's "Trading Nation" on Monday. "We've got this surging inflation. We've got questions about what the Federal Reserve is going to do in terms of policy. We've got this debt ceiling issue that's coming up the end of this week."
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Stock futures open flat ahead of Big Tech earnings
Investment

Stock futures were flat in overnight trading Monday ahead of quarterly earnings reports from several mega-cap technology companies.Futures on the Dow Jones Industrial Average added 15 points, or 0.04%. S&P 500 futures and Nasdaq 100 futures traded near the flatline.Shares of Tesla rose after hours Monday following a better-than-expected second-quarter earnings report. The electric vehicle maker passed $1 billion in quarterly net income for the first time.The major U.S. stock averages closed Monday's regular session at record highs to each notch five-day win streaks. The Dow gained 82.76 points, or 0.24%. The S&P 500 also added 0.24% and the tech-heavy Nasdaq Composite closed 0.03% higher.Second-quarter earnings season continues with Google-parent Alphabet, Microsoft and Apple are set to report after the bell Tuesday.
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Charting the rise of meme stocks
Investment

Yahoo Finance's Jared Blikre discusses the rise of meme stocks and examines the charts of some of the most popular trades.
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Stocks making the biggest moves in the premarket: F5 Networks, UPS, Sirius XM and more
Investment

Take a look at some of the biggest movers in the premarket:F5 Networks (FFIV) – F5 beat estimates by 30 cents a share, with quarterly earnings of $2.76 per share. The enterprise software maker's revenue topped analysts' forecasts as well. F5 saw strong demand amid a continued pandemic-induced growth in digital business applications. F5 rallied 6.1% in premarket trading.United Parcel Service (UPS) – UPS shares fell 2.4% in the premarket, as domestic revenue came up shy of estimates. UPS beat overall on the top and bottom lines, however, as a surge in shipping of e-commerce orders continued. UPS earned $3.06 per share for the second quarter, compared to a consensus estimate of $2.82.Stanley Black & Decker (SWK) – The tool maker beat estimates by 18 cents a share, with quarterly earnings of $3.08 per share. Revenue topped Street forecasts and the company raised its full-year outlook, expecting growth and stronger pricing to offset higher costs.
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FOMC preview: Fed to keep cards close to the chest on taper
Investment

The Federal Reserve has signaled that it will eventually slow its asset purchases when the U.S. economy shows signs it no longer needs the help.But the Fed has not offered any clues as to when it will specifically begin “tapering” its so-called quantitative easing program, which is currently absorbing about $80 billion in U.S Treasuries and about $40 billion in agency mortgage-backed securities each month.
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Apple earnings: Huge iPhone 12 sales beat analyst expectations
Investment

Apple (AAPL) reported its Q3 2021 earnings after the closing bell on Tuesday, beating analysts' expectations on strong iPhone sales performance and overall revenue growth of 36% year-over-year.Here are the most important numbers from Apple's report and what Wall Street was expecting, as compiled by Bloomberg.Revenue: $81.4 billion versus $73.8 billion expectedEarnings per share: $1.30 versus $1.01 expected
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Critical week for bipartisan infrastructure proposal
Investment

Yahoo Finaance's Jessica Smith joins to break down the latest out of Washington D.C. as Congress continues to battle it out over the bipartisan infrastucture bill
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