GoPro predicts revenue slump and slashes workforce; stock plunges

Camera maker GoPro Inc. is getting out of the drone business, laying off more than 20 percent of its workforce and losing two executives after predicting a sharp decline in its fourth-quarter revenue and disclosing weak holiday-season demand for its cameras. The disappointing outlook sent shares plummeting nearly 30 percent to an all-time low of $5.32… Please follow and like us:

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Comcast quietly fired hundreds in direct sales before Christmas

Hundreds of door-to-door salespeople for Comcast who walk neighborhoods and troll apartment complexes to pitch its telecom and TV services were called into company offices about two weeks before Christmas and fired, according to an employee and Comcast documents reviewed by the Philadelphia Inquirer, Daily News, and Philly.com. The Florida employee could not be identified because… Please follow and like us:

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Pickups, SUVs and crossovers dominated strong auto sales in 2017

Robot vehicles might rip apart the business model of the car industry in the coming years, but for now, automakers are still selling lots of cars and light trucks. U.S. sales for 2017 are expected to come in at 17.2 million vehicles, to be adjusted slightly up or down this week as more companies report their… Please follow and like us:

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Ford sales rose in December on strength of pickups; Fiat Chrysler and GM fall

DETROIT — Ford’s U.S. sales rose 0.9 percent in December, fueled by 89,385 F-Series pickup trucks. Fiat Chrysler sales fell 11 percent while General Motors dropped 3.3 percent. For perspective, Ford sold more than twice as many large pickups as the total of all Ford passenger cars sold in the month, 44,871. At Fiat Chrysler, Jeep… Please follow and like us:

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US existing home sales, prices surge in November

The US housing market continued to boom in November, with existing home sales rising for the third straight month to the highest level in nearly 11 years, according to data released Wednesday. The multi-year streak of rising prices and falling inventories also continued, adding to concerns about affordability for would-be home owners, the National Association of… Please follow and like us:

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Tesla was under federal investigation over Model 3 and may still be, report says

PALO ALTO, Calif. — The Securities and Exchange Commission investigated Tesla over how it was selling its Model 3 sedan, but the company didn’t tell investors about it, and may still be under federal investigation, according to a new report. The firm led by CEO Elon Musk was under investigation by the securities regulator from June… Please follow and like us:

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Analysts: US Cyber Monday Sales Could Set New Online Spending Record

In the United States, it’s Cyber Monday, a day when holiday shoppers could set a new spending record for online purchases from work, home or anywhere with their cellphones. With rising wages in the U.S., low unemployment and strong consumer confidence, research firm Adobe Analytics predicted shoppers could spend $6.6 billion on Monday, more than a… Please follow and like us:

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Black Friday Sales Improve From Previous Years

Black Friday called for retailers to boast off an abundant of discounts and doorbuster deals to attract shoppers as they began holiday shopping, but the real action took place online instead of in brick-and-mortar stores. A rise in online sales helped to bring about one of the best turnouts for the annual shopping day in the… Please follow and like us:

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How Black Friday and Its Doorbusting Discounts Came to Be

Black Friday has become quite the affair. The special-event day — not quite a holiday, though it often feels like one — creates hysteria in many parts of the country as people practically race from their Thanksgiving tables right to the stores offering them the very best deals. Black Friday isn’t even really on Friday anymore.… Please follow and like us:

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Brexit-charged inflation bites into Christmas shopping

While shoppers at Nottingham’s Christmas market complain about high prices, nearby volunteers hand out food parcels and retailers seek to dispel Brexit gloom with Black Friday sales. The price of everything “is shooting through the roof and wages are pretty much staying the same, so every month you cut back on a little bit more”, council… Please follow and like us:

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Equifax puts price tag on massive data breach: $140 million

The Equifax data breach that compromised the personal information of roughly 145 million Americans this year will likely cost the company upwards of $140 million in 2017, according to the credit rating agency. Equifax said in a fourth-quarter profit outlook released Friday that it expects the data breach disclosed in September will hurt sales and result… Please follow and like us:

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Hasbro reportedly offers to buy Mattel

Hasbro Inc. reportedly made an offer to buy beleaguered rival Mattel Inc. Hasbro approached El Segundo, Calif.-based Mattel recently with a takeover offer but terms of the proposal were not available, the Wall Street Journal reported Friday, citing unidentified sources. Representatives of Hasbro and Mattel declined comment on the report. Hasbro, based in Pawtucket, R.I., makes… Please follow and like us:

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J.C. Penney, having slashed prices on slow-moving merchandise, warns of poor results

DALLAS — J.C. Penney cut its outlook for full-year results on Friday saying it accelerated markdowns in the third quarter ended in October to move out slow-moving apparel, primarily in women’s, its largest department. The company said it now expects 2017 comparable store sales to be flat or down 1 percent versus its most recent guidance… Please follow and like us:

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F-150 pickups drive 3rd quarter earnings: Ford beats expectations

DETROIT — Ford announced Thursday a third-quarter profit of $1.6 billion, a 63 percent increase from one year ago. On a per share basis, the Detroit-area automaker earned 39 cents per share, beating the 33 cents per share average, based on a FactSet survey of Wall Street analysts. That’s up from 26 cents per share a… Please follow and like us:

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Fiat Chrysler earns $1.07B in record 3rd quarter

DETROIT — Fiat Chrysler Automobiles reported earnings of $1.07 billion (910 million euro) in the third quarter, an increase of 50 percent over the same period a year ago. The automaker, which has its U.S. headquarters in suburban Detroit, touted a record third-quarter, citing a drop in expenses related to debt reduction, strong performance in North… Please follow and like us:

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