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Gold prices struggle for direction on Wednesday, after back-to-back session gains, as investors continue to weigh remarks a day earlier from Federal Chairman Jerome Powell and the reaction in the U.S. dollar and Treasury yields.
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Microsoft's Bing and Alphabet's Google search engines are getting major AI upgrades.
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U.S. stocks fall Wednesday, as investors waited for Disney earnings after the close and listened to several Fed speakers throughout the trading day.
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Uber Reports Record Revenue as It Defies the Economic Downturn The New York TimesUber beats estimates and the stock is up CNBCUber CEO: We are not seeing any signs of consumer weakness at this point CNBC TelevisionUber stock pops on impressive revenue growth, consumer resilience Yahoo FinanceUber extends post-lockdown streak with strong rideshare and food delivery demand Financial TimesView Full Coverage on Google News
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These are some of the stocks posting the largest moves before the stock market's opening bell.
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Which AI software stock is a more resilient long-term investment?
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Companies that are stumbling through layoffs, stock-price drops and slowing growth in a bruising economy are being targeted.
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In 2023, Cantaloupe could turn profitable again.
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Traders grow more optimistic that US interest rates will not rise more than expected
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An earlier version of this report misstated Uber's adjusted Ebitda guidance. It has been corrected.Shares of Uber Technologies Inc. UBER were heading 7% higher in premarket trading Wednesday after the ride-hailing company delivered an upbeat outlook for the current quarter. The company generated fourth-quarter net income of $595 million, or 29 cents a share, whereas it posted net income of $892 million, or 44 cents a share, in the year-earlier quarter. The FactSet consensus was for a 15-cent loss per share on a GAAP basis. Uber's net income figure included a $756 million net pre-tax benefit largely due to unrealized gains from the revaluation of equity investments. Uber also reported adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $665 million, whereas analysts were expecting $624 million. Revenue increased to $8.6 billion from $5.8 billion, while analysts had been modeling $8.5 billion. Gross bookings rose $19% to $30.7 billion, matching the FactSet consensus. "We ended 2022 with our strongest quarter ever, with robust demand and record margins," Chief Executive Dara Khosrowshahi said in a release. For the first quarter, Uber executives anticipate gross bookings of $31.0 billion to $32.0 billion, along with $660 million to $700 million in adjusted Ebitda. Analysts were looking for $31.3 billion in gross bookings and $612 million of adjusted Ebitda.
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.
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Investors got newfound optimism about these companies, whose shares had seen some recent declines.
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