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: Otis Worldwide Q4 profit and sales top estimates, offers upbeat guidance for 2023

Otis Worldwide Corp. OTIS posted stronger-than-expected fourth-quarter earnings on Wednesday, despite macro challenges it says are pressuring its business. The elevator and escalator manufacturer posted net income of $297 million, or 71 cents a share, for the quarter, up from $281 million, or 65 cents a share, in the year-earlier period. Adjusted per-share...

Coronavirus tally: U.S. cases down 23% from two weeks ago as hospitalizations fall 22%

The seven-day average of new U.S. COVID cases stood at 45,236 on Tuesday, according to a New York Times tracker. That's down 23% from two weeks ago. The daily average for hospitalizations was down 22% at 32,080. The average for deaths was 488, down 9% from two weeks ago. The global tally of confirmed cases of COVID-19 topped 670.8 million on Wednesday,...

: Visa’s arrangement with PayPal has sparked DOJ interest: report

Visa Inc. V is facing scrutiny from the Department of Justice over an arrangement with PayPal Holdings Inc. PYPL that was struck years ago, Bloomberg Law reported earlier Tuesday. In the early days following PayPal’s spinoff from eBay Inc. EBAY, the digital-payments company preferred that users paid with their bank accounts rather than with credit or...

: Super Micro stock falls after weaker sales guidance for fiscal Q3

Shares of Super Micro Computer Inc. SMCI fell more than 10% in the extended session Tuesday after the IT company reported fiscal second-quarter earnings above Wall Street expectations but called for softer current-quarter sales. The company, which does business as Supermicro, earned $176 million, or $3.14 a share, in the quarter, compared with $42 million,...

: Western Digital stock drops as outlook disappoints

Western Digital Corp. WDC shares fell in the extended session Tuesday after the data-storage device company’s outlook fell below Wall Street expectations. Western Digital stock fell as much as 7% after hours, following a 0.7% decline to close the regular session at $43.95. Western Digital forecast an adjusted fiscal third-quarter loss of $1.70 a share...

: Nasdaq logs best January since 2001 as stocks climb to cap off stellar month

U.S. stocks finished in the green on Tuesday as the Nasdaq cemented its best January performance since 2001 amid a broad-based rally in equities that saw some of 2022’s worst performers take the lead. The S&P 500 SPX gained 58.83 points, or about 1.5%, to finish January at 4,076.60, a gain of 6.2% for the month, according to Dow Jones Market Data....

: Vice President Kamala Harris to attend Tyre Nichols’ funeral

Vice President Kamala Harris on Wednesday will travel to Memphis, Tenn., to attend the funeral of Tyre Nichols, the White House announced Tuesday. Nichols, a Black man who was severely beaten by a group of Memphis police officers, died on Jan. 10.   Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit...

: U.S. oil prices gain for the session, fall for the month

Oil futures climbed on Tuesday, but U.S. benchmark prices posted a loss for the month ahead Federal Reserve monetary policy decision and a committee meeting of the Organization of the Petroleum Exporting Countries and their allies, which are both scheduled for Wednesday. “The main driver for oil lately has been the potential for a resurgence of oil...

: Motorsports Games stock rockets more 600% on massive volume after satisfying Nasdaq listing requirements, again

Shares of Motorsport Games Inc. MSGM blasted 662.7% higher toward a 10-month high on heavy volume in afternoon trading, after the Florida-based racing game developer and esports ecosystem provider said it regained full compliance with Nasdaq listing requirement. Trading volume rocketed to 45.6 million shares, compared with the full-day average over...

Defiance Digital Revolution ETF is closing

Defiance ETFs is closing the Defiance Digital Revolution ETF, an exchange-traded fund that tracks an index of companies with exposure to non-fungible tokens, the blockchain and cryptocurrency. Defiance ETFs announced Jan. 27 that it will "close and liquidate the fund immediately after the close of business on February 28." Shares of the ETF, which trade...

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