Expedia, Block, Lyft and more

Expedia, Block, Lyft and more

Check out the companies making headlines before the bell: Expedia (EXPE) – The travel website operator’s stock jumped 5.4% in the premarket after Expedia beat top and bottom line estimates in its latest quarterly report. Travel demand was strong, with lodging revenue up 57% from a year ago and airline ticket revenue up 22%. Block … Read more

Elon Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment

Elon Musk’s warning could be auto industry’s ‘canary in the coal mine’ moment

Tesla chief executive Elon Musk’s “super bad feeling” about the economy could be the auto industry’s “canary in the coal mine” moment, signaling a recession for an industry whose bumps have shown no signs of concern. Mr. Musk said the electric-car maker needed to cut about 10 per cent of its work force in an … Read more

Tech companies lost $17 billion in Q1 as equity investments take a hit

Tech companies lost  billion in Q1 as equity investments take a hit

An electric Amazon delivery van from Rivian cruises down the street with the Hollywood sign in the background. Amazon The tech sell-off of 2022 accelerated in the past couple weeks, with first-quarter earnings reports highlighting challenges like inflation, supply chain shortages and the war in Ukraine. For some tech leaders, the market swoon has created … Read more

Stock futures are lower after big market reversal to start May

Stock futures are lower after big market reversal to start May

US stock futures moved lower Monday night after the major averages staged a big reversal to start the month. Dow Jones Industrial Average futures fell 59 points, or 0.2%. S&P 500 and Nasdaq 100 futures dipped 0.2% and 0.3%, respectively. Earlier in the day, the major averages posted a wild up-and-down session with the Nasdaq … Read more

Amazon takes $7.6 billion loss on Rivian stake from Q1 stock plunge

Amazon takes .6 billion loss on Rivian stake from Q1 stock plunge

RJ Scaringe, Rivian’s 35-year-old CEO, introduces his company’s R1T all-electric pickup and all-electric R1S SUV at Los Angeles Auto Show in Los Angeles, California, November 27, 2018. Mike Blake | Reuters Amazon invested in electric vehicle maker Rivian in 2019 as part of a plan to go green. During the first quarter, it saw nothing … Read more