On Wednesday and week before its Detroit-rival General Motors (NYSE: GM) scheduled its second-quarter earnings results, Ford Motors (NYSE: F) raised its outlook for the year after delivering a surprising second-quarter profit. Upon the news, its stock was up by about 4% in after-hours trading. Q2 Figures Due to the ongoing global shortage of semiconductor chips which continues to disrupt production, the revenue of $24.13 billion slightly missed expectations. Ford revealed it lost production of… Source link

(Bloomberg) — Robinhood Markets Inc. wanted to make history with its initial public offering, and now it has — for the wrong reason. Shares in the broker behind the meme-stock revolution fell 8.4% below the IPO price in the company’s first trading session. That’s the worst debut on record among 51 U.S. firms that raised as much cash as Robinhood or more, according to data compiled by Bloomberg. It dethroned the 2007 IPO by another brokerage, MF Global Holdings Ltd., as the worst debut… Source link

Tech juggernaut Amazon (AMZN) reported its Q2 2021 earnings after the closing bell on Thursday, missing expectations on revenue and falling short on Q3 guidance. Here’s are the most important numbers from Amazon’s report compared to analysts’ expectations as compiled by Bloomberg. Revenue: $113.08 billion versus $115.06 billion expected EPS: $15.12 versus $12.22 expected AWS revenue: $14.81 billion versus $14.18 billion expected Amazon’s stock was off as much as 5% following the earnings… Source link

Advanced Micro Devices (AMD) torched analyst forecasts again for the second quarter, in large part fueled by robust demand for chips for gaming consoles, PCs and servers.  “The demand for computing is just exploding everywhere,” AMD CEO Dr. Lisa Su said on Yahoo Finance Live. “I think whether it’s in PCs where you are working from home, schooling from home or returning to office, people want better devices and particularly in the data center, where there is just an incredible need for more… Source link

Robinhood shares began trading Thursday under the ticker HOOD, opening on the public markets at $38 per share. The shares had also been priced at $38. In the first half hour, the stock dropped around 5% to around $36. The stock was expected to be priced between $38 and $42, coming in at the lower end of the range, and giving the company a valuation of $32 billion.  The investing app offers a simple and mobile-first way for investors to buy stocks, ETFs, and even cryptocurrency and played a… Source link

Yandex N.V. YNDX reported second-quarter 2021 adjusted earnings of 4 cents per share, missing the Zacks Consensus Estimate by 89.7%. Further, the figure declined 50% sequentially and 55.6% year over year. Revenues were $1.12 billion. In ruble terms, the figure totaled RUB 81.4 billion, up 70% on a year-over-year basis and 11.4% from the previous quarter. The reported revenue figure includes the consolidated financial results of Yandex.Market. Strength across the company’s online advertising… Source link

Yandex N.V. (YNDX Quick QuoteYNDX – Free Report) reported second-quarter 2021 adjusted earnings of 4 cents per share, missing the Zacks Consensus Estimate by 89.7%. Further, the figure declined 50% sequentially and 55.6% year over year. Revenues were $1.12 billion. In ruble terms, the figure totaled RUB 81.4 billion, up 70% on a year-over-year basis and 11.4% from the previous quarter. The reported revenue figure includes the consolidated financial results of… Source link

Retail investors have upended conventional market dynamics in 2021, showing institutional investors and hedge funds that they are a force to contend with. “The one dynamic that will change is, I think, big institutionally-driven hedge fund players will not get out over their skis the way that Archegos did,” Keith Bliss, a former NYSE trader and president of Capital2Market, told Yahoo Finance (video above). “But what the instructive part of that whole episode was that these bigger… Source link

MOSCOW, July 29 (Reuters) – Russia on Thursday fined Google 3 million roubles ($41,017) for violating personal data legislation, Google’s first fine for that offence, Moscow’s Tagansky District Court said. Google confirmed the fine and offered no further comment. The penalty comes amid a wider standoff between Russia and Big Tech, with Moscow routinely fining social media giants for failing to remove banned content and seeking to compel foreign tech firms to open offices in Russia. read more

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)    * Ford, Qualcomm rise after strong earnings    * Didi Global jumps on report it could go private    * Banks, industrials, mining stocks gain after dovish Fed    * Futures: Dow up 0.41%, S&P adds 0.17%, Nasdaq down 0.17% (Adds comments; updates prices)    By Sagarika Jaisinghani    July 29 (Reuters) – The S&P 500 and the Dow indexes were set to rise on Thursday as a… Source link