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Yahoo BusinessOct 29, 2020
Apple stock pulled down by weak iPhone sales, China
Despite those delays, Apple has mostly beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic. Apple said revenue and profits for the fiscal fourth quarter ended on Sept. 26 was $64.7 billion and 73 cents per share, compared with analyst estimates of $63.7 billion and 70 cents per share, according to IBES data from Refinitiv. Analysts anticipated consumers would hold off on iPhone purchases ahead of new iPhone 12 models.


Forbes HeadlinesOct 29, 2020
Wine Sales Soar During Pandemic Says Leading Wine Educator Kevin Zraly.
People are staying home during Covid and enjoying wine with meals more than ever, says wine guru Kevin Zraly.

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Kellogg tops earnings estimates and raises guidance as demand for at-home food is high during pandemic (MarketWatch MarketPulse)

Yahoo BusinessOct 29, 2020
Tech Q3 Earnings: Facebook, Google, Amazon Post Strong Revenue and Profit Gains
Big tech companies continue to prosper in the time of COVID. Facebook, Alphabet (Google's parent) and Amazon each reported solid growth for the third quarter of 2020 — results that reflect how people worldwide have upped their usage of internet giants' services during the pandemic. The trio each posted revenue and earnings that topped Wall […]


MarketWatch MarketPulseOct 29, 2020
Avis Budget Group beats Q3 estimates but profit and sales hit by pandemic effect on travel
Avis Budget Group Inc. shares jumped 4% in after-hours trade Thursday, after the rental car company topped earnings estimates for the third quarter, even as profit and revenue slid sharply as travel slowed significantly during the pandemic. The company said it had net income of $45 million, or 63 cents a share, in the quarter, down sharply from $189 million, or $2.50 a share, in the year-earlier period. Adjusted per-share earnings came to $1.13, above the 40 cents FactSet consensus. Revenue tumbled 44% to $1.534 billion from $2.763 billion, but was ahead of the $1.443 billion FactSet consensus. The company said it cut $1 billion of costs in the quarter, bringing the year-to-date total to $2 billion, and said it's on track to cut $2.5 billion for the full year. "We remain focused on what we can control," Chief Executive Joe Ferraro said in a statement. The company is expecting to see the normal seasonal effects in the fourth quarter, and expects the travel environment to remain challenged. Shares have gained 14% in the year to date, while the S&P 500 has gained 2.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



NPR Topics: BusinessOct 29, 2020
U.S. Economy Grew At A Record Pace In Third Quarter
The U.S. economy rebounded sharply during the last three months, growing at a record quarterly pace of 7.4%. However, the economy has not yet recovered from the damage done by the pandemic.
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