Author: Press Room

Amazon on Thursday issued first-quarter guidance that came in light of estimates, overshadowing better-than-expected revenue for the fourth quarter. The stock slid after hours, erasing most its rally from the regular trading day. Here are the key numbers:Earnings: 3 cents per shareRevenue: $149.2 billion vs $145.42 billion expected, according to Refinitiv estimatesHere’s how other key Amazon segments did during the quarter:Amazon Web Services: $21.4 billion vs $21.87 billion expected, according to StreetAccountAdvertising: $11.56 billion vs $11.38 billion expected, according to StreetAccountIt’s not immediately clear if the reported earnings are comparable to the Refinitiv analyst estimate of 18 cents per share.Amazon…

EXCLUSIVE: A new bill from Rep. Chris Stewart would bar social media companies from allowing children under the age of 16 to use their platforms, in an attempt to help save the declining mental health of America’s youth due to increased use of TikTok, Instagram and other addictive media apps.Stewart, R-Utah, introduced the “Social Media Child Protection Act,” which would require Big Tech companies to verify the age of their users, including by using methods such as ID verification.It would also give states the authority to bring civil lawsuits on behalf of residents if a company violates the age limit…

Mortgage rates fell slightly this week, as a smaller rate hike by the Federal Reserve signaled promising improvement on inflation. The 30-year fixed-rate mortgage averaged 6.09% in the week ending February 2, down from 6.13% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.55%. After climbing for most of 2022, spurred by the Fed’s harsh interest rate hikes to tame soaring inflation, mortgage rates have been trending downward since November, alongside data that continues to show inflation may have peaked. Mortgage rates have not been this low since September and…

Alphabet missed on both top and bottom lines when it reported fourth quarter earnings after the bell Thursday. The company’s stock dropped nearly 4% after hours, erasing some of the 7.28% it gained in normal trading hours. Here’s how the numbers stacked up:Earnings per share (EPS): $1.05 vs $1.18 per share expected, according to Refinitiv Revenue: $76.05 billion vs. $76.53 billion expected, according to RefinitivYouTube advertising revenue: $7.96 billion vs. $8.25 billion expected, according to StreetAccount estimates.Google Cloud revenue: $7.32 billion vs. $7.43 billion expected, according to StreetAccount estimatesTraffic acquisition costs (TAC): $12.93 billion vs. $13.32 billion expected, according to StreetAccount estimatesThe company said…

Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.Nic Antaya | Getty ImagesDETROIT – Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings expectations and falling short of its own full-year guidance by $1.1 billion, as the company reported “execution issues” that plagued operations.Ford’s fourth-quarter net income was $1.3 billion, $11 billion lower than the same period a year earlier. For the full year, Ford lost $2 billion, nearly $20 billion off its 2021 profit.”We should have done much better…

Researchers investigated the effects of lifetime estrogen exposure on stroke risk. They found that higher levels of lifetime estrogen exposure in women were associated with a lower risk of stroke.Further research is needed to understand how higher estrogen exposure confers protection from stroke. A stroke occurs when blood is blocked from reaching the brain or a blood vessel in the brain bursts. Stroke is the second-leading cause of death around the world, and its incidence increased substantially between 1990 and 2019 globally, including a 70% increase in the number of incident, or first-ever, strokes. Some studies suggest that higher estrogen…

The Tom Brady era in the NFL appears to have finally come to a close. The seven-time Super Bowl champion announced his retirement Wednesday morning, saying he was “retiring for good.”  “Good morning, guys. I’ll get to the point right away,” Brady said in a video posted to social media. “I’m retiring for good. I know the process was a pretty big deal last time. So, when I woke up this morning, I figured I’d just press record and let you guys know first so. I won’t be long-winded. You only get one super emotional retirement essay and I used mine…

Israeli police arrested an American tourist who allegedly vandalized a statue in a Jerusalem church in the Old City. “We take very seriously damage to religious institutions and sites,” an Israeli police spokesperson said in a statement. “The police will continue to act against acts of violence and vandalism in the holy places of all religions.”Police arrested the tourist after hearing that he had broken a statue of Jesus Christ at the Franciscan Church of the Condemnation, which contains the Church of the Flagellation in the Old City of Jerusalem. The officers cooperated with church security to locate and arrest the…

Lawyers for the family of Hae Min Lee, the Baltimore high school girl whose murder was profiled on the hit podcast “Serial,” asked appellate judges on Thursday to reinstate a murder conviction against the man once blamed for her slaying.A three-judge panel of the Appellate Court of Maryland heard arguments from lawyers on both sides of the case involving Adnan Syed, who was once convicted of the 1999 killing of Lee, his former girlfriend.He was released from prison last year after prosecutors and a judge sided with Syed’s advocates, who have long claimed that the defendant’s conviction was flawed.Outside the…

CNN  —  Former House Speaker Nancy Pelosi said Thursday that she will support Democratic Rep. Adam Schiff’s bid for US Senate in California if the state’s longtime senator, Democrat Dianne Feinstein, decides not to run for reelection next year. “If she decides not to run, I will be supporting House Intelligence Committee Chair Adam Schiff, who knows well the nexus between a strong Democracy and a strong economy,” Pelosi, who represents San Francisco, said in a statement. Schiff, a Los Angeles-area congressman, announced his bid for Feinstein’s seat last week, joining what is shaping up to be a competitive primary…