• Fueled by Smartwatch Sales, Fitbit Says It's on the Comeback Trail

    19 days ago - By Fortune

    Fitbit had a better quarter than Wall Street expected, but still saw revenue drop 15% from last year. Smartwatch sales boomed, but were held back by production limits as the company ran out of its new hit Versa watch. And sales of cheaper fitness trackers were still falling sharply.
    Overall revenue for the second quarter totaled $299 million, better than the $285 million analysts forecast, and the company lost an adjusted 22 cents per share versus the 24 cent loss analysts expected. Fitbit sold 2.7 million devices, including both smartwatches and trackers, again beating the 2.5 million...
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  • How major US stock indexes fared Wednesday

    19 days ago - By Chron

    Apple surged to its biggest gain in a year and a half Wednesday and drew closer to $1 trillion in value after it reported stronger iPhone sales and rising prices. But losses for energy and industrial companies left major stock indexes lower.
    On Wednesday:
    The S&P 500 index slipped 2.93 points, or 0.1 percent, to 2,813.36.
    The Dow Jones Industrial Average slumped 81.37 points, or 0.3 percent, to 25,333.82.
    The Nasdaq composite gained 35.50 points, or 0.5 percent, to 7,707.29.
    The Russell 2000 index of smaller-company stocks fell 1.54 points, or 0.1 percent, to 1,669.26.
    For the week:
    The...
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  • Apple and Comerica rise while Hanesbrands and Big 5 drop

    19 days ago - By Chron

    NEW YORK - Stocks that moved substantially or traded heavily on Wednesday:
    Apple Inc., up $11.21 to $201.50
    The company's quarterly results beat expectations as iPhone sales prices rose, and it gave a strong fourth-quarter forecast.
    Hanesbrands Inc., down $4.30 to $17.96
    The underwear, T-shirt and sock maker said Target won't renew a contract with the Champion brand.
    SodaStream International Inc., up $23 to $110.30
    The maker of beverage carbonation systems raised its forecasts for the year.
    Big 5 Sporting Goods Corp., down 52 cents to $5.93
    The company said wet weather hurt sales of...
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  • Facing Losses, Condé Nast Plans to Put 3 Magazines Up for Sale

    19 days ago - By NY Times

    Anna Wintour is staying, but the once-plush company behind Vogue and The New Yorker lost $120 million last year.
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  • Apple's iPhone sales this year are poised to be the biggest in company history

    Apple's iPhone sales this year are poised to be the biggest in company history

    19 days ago - By Business Insider

    Apple reported the strongest third quarter in its history Tuesday. And despite the smartphone market at a relative standstill, the company is poised to have its biggest year in iPhone revenue yet.
    As this chart from Statista shows, Apple's revenue will reach a whopping $129.5 billion by the end of its third quarter, surpassing the previous nine-month record of $122.8 billion in 2015. Last year's release of the iPhone X, its first iPhone to retail at a starting price of $999, could be a contributing factor to the company's success this fiscal year.
    Worth noting: Despite Apple's successful...
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