Match Group Inc. shares were pummeled Tuesday after the online-dating company’s new chief executive detailed a slowdown for its most popular product, Tinder, and decided to pause newer initiatives such as Tinder-based crypto and “metaverse” dating. Match MTCH, +4.32% reported a loss of $31.86 million, or 11 cents a share, down from a profit of … Read more
Shares of Caterpillar Inc. sank Tuesday, after the construction and mining equipment maker reported another disappointing earnings report, with profit beating expectations but sales coming up a bit shy. The CAT company, -5.58% stressed that demand remained “healthy” and “strong,” but results were hampered mostly by continued supply chain constraints, as well as the strong … Read more
Activision Blizzard Inc. shares ticked higher in the extended session Monday after the videogame publisher released better-than-expected revenue as sales dropped for a third straight quarter. Activision Blizzard ATVI, +0.16% shares rose 1% after hours, following a 0.2% rise to close the regular session at $80.08. The company will not be issuing an earnings presentation … Read more
As mergers and acquisitions hit record levels last year, the young dealmakers on Financial News‘ Rising Stars of Investment Banking list made their mark, taking central roles on key deals. Here are the M&A bankers that rose to the challenge and made it on FN’s illustrious ranking: Jack Blomfield, managing director, William Blair Augustin D’Angerville, … Read more
GLENDALE, Calif. & NEW YORK–(BUSINESS WIRE)–Jul 20, 2022– Blackstone (NYSE: BX) today announced that affiliates of Blackstone Real Estate have completed the previously announced acquisition of all of the outstanding shares of common stock of PS Business Parks, Inc. (“PSB”) for $187.50 per share in an all-cash transaction valued at approximately $7.6 billion, including transaction … Read more
Uber Technologies Inc. reportedly paid high-profile academics in the United States and Europe to produce reports that could be used in the company’s lobbying, while continuing to fight a push to disclose more information about its current lobbying. The Guardian reported Tuesday based on files leaked by a former Uber executive that the company paid … Read more
If you’re a long-term investor, this year’s selloff is good news because it offers a great chance to pick up quality companies at a discount. But wait a second. If a company is “high quality,” why would its stock be getting hit? “Portfolio managers have been selling what they can as opposed to what they … Read more
SYDNEY – Buy-now-pay-later rivals Zip Co. ZIP, + 5.00% and Sezzle Inc. SZL, -37.35% have scrapped the planned merger that they had hoped would create the scale to better compete in the crowded installment-payments industry. The ASX-listed companies on Tuesday issued separate statements saying that they had mutually agreed to halt the merger, without immediately … Read more