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| June 18, 2019

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Warren worried about ‘slide towards war with Iran’, says Trump needs to ‘come to Congress’ before taking military action

June 15, 2019 |

Democratic presidential candidate Sen. Elizabeth Warren said she’s “very concerned about a slide towards war with Iran” and highlighted that President Donald Trump “has to come to Congress” for authorization before taking military action against Iran. Pointing to this week’s attacks on tankers in the Gulf of Oman, the Republican president told Fox News on Friday that “Iran did do it.” But Warren, the two-term progressive senator from Massachusetts who sits on the Senate Armed Services Committee, is skeptical.
FOX News

Stocks slide broadly, led down by technology shares

May 20, 2019 |

Technology companies led a broad slide in stocks Monday on Wall Street, extending the market’s losses into another week.

The U.S. decision to ban technology sales to China’s Huawei hammered the technology sector, particularly chipmakers. About one-third of Huawei’s suppliers are American chipmakers,…


L.A. Times – Business

Stocks slide as Trump’s China trade threat reverberates

May 6, 2019 |

Equities slumped globally on Monday and Treasuries rallied after President Trump’s threat to increase tariffs on Chinese imports called into question the chances of a resolution to the trade war.

Futures on the S&P 500 index tumbled, signaling a punishing start to the week on Wall Street after…


L.A. Times – Business

Lyft’s stock has a blue Monday as shares slide after public debut

April 2, 2019 |

Today, investors took off their rose-colored glasses (and pink-colored mustaches) and looked at Lyft’s shares with fresh eyes after Friday’s ebullient debut.

And — judging by the company’s share price at the end of the day — what they saw wasn’t exactly to their liking.

Lyft’s shares suffered a pretty blue Monday in trading on the Nasdaq stock exchange today, closing down $ 9.28 (or 11.85%).

Once trading after the pink confetti was swept up off the floor and analysts and investors had a different story to tell about one of the first unicorns to make its public debut.

Part of the reason for the company’s share price tumble was a report from Guggenheim Partners analyst Jake Fuller, which voiced skepticism about the ride hailing company’s path to profitability.

Lyft’s financial picture has always been challenged. That was clear from the moment it filed its financial documents with the Securities and Exchange Commission before its public debut.

As TechCrunch wrote at the time:

According to the filing, Lyft recorded $ 2.2 billion in revenue in 2018, more than double the $ 1 billion recorded in 2017. Meanwhile, losses have been growing considerably. The company posted a net loss of $ 911 million on the $ 2.2 billion in revenue and a $ 688 million loss on 2017’s $ 1 billion.

The analysis from Fuller simply makes clear that Lyft’s purported path to profitability is dependent on a number of steps that could prove very difficult for the company to execute.

“We see four paths to profitability: cut driver pay, turn off incentives, reduce insurance costs or shift to self-driving cars,” Fuller is quoted by MarketWatch as writing. “The first two would be tough in a highly competitive category, the third might not be enough by itself and the fourth is likely 10 years out.”

TechCrunch

Toddler Was on Her Backyard Slide When Stray Bullet Came

March 22, 2019 |

A 2-year-old girl is on life support in a Tennesee hospital after being struck by a stray bullet while playing in her backyard with her brothers. Ariel Salaices was on a slide when she was shot, ABC News reports. Her mother said the girl fell off the slide, then walked…
Newser

Alphabet profit margins slide as Google costs march upward

February 5, 2019 |

Google parent Alphabet Inc. reported thinner profit margins as the internet giant spent heavily to expand its cloud and YouTube businesses.

The tech giant reported its fourth-quarter results after the close of markets, and its shares slipped in after-hours trading.

Google’s fourth-quarter capital…


L.A. Times – Business

Stocks Shake Off Early Slide, End Higher

February 5, 2019 |

Stocks recovered from an early slide and finished broadly higher as gains in technology and industrial companies outweighed losses elsewhere in the market, the AP reports. The market had gotten off to a weak start Monday after the government reported that factory orders fell in November, but by midday major…
Newser

Tech firms lead stocks higher after early slide

February 4, 2019 |

U.S. stocks recovered from an early slide Monday as gains by technology and media companies outweighed losses by healthcare firms and others.

A report showing U.S. factory orders declined in November weighed on stocks earlier in the day. Concerns about slower economic growth overshadowed a mostly…


L.A. Times – Business

Samsung Posts Slide in Fourth-Quarter Net Profit

January 31, 2019 |

The South Korean firm’s bleak financial results reflect the latest fallout from China’s slowing economic growth and ongoing trade tensions with the U.S.
WSJ.com: What’s News Asia

Stocks slide as slow growth in China hurts company earnings

January 29, 2019 |

Stock indexes sank Monday after announcements from Caterpillar and Nvidia highlighted how much China’s slowing economic growth is hurting U.S. companies’ profits.

Caterpillar, a bellwether for industrial companies, reported fourth-quarter earnings that fell well short of analysts’ expectations…


L.A. Times – Business