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Ecuador legislature moves forward on president’s impeachment

Published Tue, 05 Nov 2024 16:45:51 GMT

QUITO, Ecuador (AP) — Ecuador’s opposition-led National Assembly voted Tuesday to move forward with impeachment proceedings against President Guillermo Lasso over embezzlement allegations, while his defense team argued that the procedure violated the legislative body’s own rules.The vote to move forward with the impeachment process required a majority of lawmakers present, and 88 of the 116 lawmakers at the session voted in favor. The debate came three days after a majority-led legislative committee declined to adopt a report produced by its own members that had cleared Lasso of the allegations.Assemblywoman Viviana Veloz, a member of the opposition, urged lawmakers to allow the process to continue “so that once and for all, it is absolutely clear, this trial has a political nature.”Tuesday’s vote means that Lasso’s accusers and his defense will be allowed to present evidence before the National Assembly. To remove the president, at least 92 of the Assembly’s 137 members...

Airbnb posts $117 million 1Q profit as revenue grows by 20%

Published Tue, 05 Nov 2024 16:45:51 GMT

Airbnb said Tuesday that it earned $117 million in the first quarter, as rentals and revenue jumped again during an ongoing recovery in travel and a trend of more people working remotely.It was the first time that the short-term rental giant earned a profit in the first three months of the year, a seasonally slow period for travel. The San Francisco-based company’s profit compared with a loss of $19 million a year earlier and worked out to 18 cents per share.Revenue climbed 20% to $1.82 billion, beating Wall Street’s forecast of $1.79 billion, according to a FactSet survey.Nights and experiences booked, a closely watched measurement for Airbnb, increased 19% to 121 million, and the company valued the bookings made in the quarter at $20.4 billion, a 19% increase.In a letter to shareholders, Airbnb said its revenue and the gross value of bookings are both double what they were before the pandemic.Airbnb is getting a lift from people who are traveling while they take advant...

Iovance Biotherapeutics: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

SAN CARLOS, Calif. (AP) — SAN CARLOS, Calif. (AP) — Iovance Biotherapeutics Inc. (IOVA) on Tuesday reported a loss of $107.4 million in its first quarter.On a per-share basis, the San Carlos, California-based company said it had a loss of 50 cents.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 84 cents per share._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IOVA at https://www.zacks.com/ap/IOVASource

LegalZoom: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

GLENDALE, Calif. (AP) — GLENDALE, Calif. (AP) — LegalZoom.com Inc. (LZ) on Tuesday reported a loss of $2.4 million in its first quarter.The Glendale, California-based company said it had a loss of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 7 cents per share.The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.The online platform for legal services posted revenue of $165.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $155 million.For the current quarter ending in June, LegalZoom said it expects revenue in the range of $166 million to $168 million.The company expects full-year revenue in the range of $630 million to $650 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LZ at h...

Mets’ Scherzer misses start against Reds due to neck spasms

Published Tue, 05 Nov 2024 16:45:51 GMT

CINCINNATI (AP) — New York Mets pitcher Max Scherzer was scratched from his scheduled start against the Cincinnati Reds on Tuesday night due to neck spasms.Left-hander David Peterson was recalled from Triple-A Syracuse to start the opener of a three-game series.The start would have been Scherzer’s second since a 10-game suspension by Major League Baseball for violating the prohibition on foreign substances during an April 19 game at the Los Angeles Dodgers. The three-time Cy Young Award winner allowed six runs and eight hits over 3 1/3 innings at Detroit in his return on May 3, leaving the 38-year-old right-hander 2-2 with a 5.56 ERA in five starts this season.Scherzer was limited to two starts for the Washington Nationals between June 30 and Aug. 22, 2019, because of a mid-back strain and a rhomboid strain.Scherzer started feeling a problem after throwing a light bullpen on Sunday.“It started feeling barks, so I got some treatment during the game,” he said Tuesday. “When I wo...

VTEX: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

LONDON (AP) — LONDON (AP) — VTEX (VTEX) on Tuesday reported a loss of $7.3 million in its first quarter.The London-based company said it had a loss of 4 cents per share.The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.The company that helps retailers build e-commerce businesses posted revenue of $42.3 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $41.2 million.For the current quarter ending in June, VTEX said it expects revenue in the range of $45 million to $45.8 million.The company expects full-year revenue in the range of $185 million to $190 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VTEX at https://www.zacks.com/ap/VTEXSource

Wynn: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

LAS VEGAS (AP) — LAS VEGAS (AP) — Wynn Resorts Ltd. (WYNN) on Tuesday reported first-quarter net income of $12.3 million.The Las Vegas-based company said it had net income of 2 cents per share. Earnings, adjusted for non-recurring costs, came to 29 cents per share.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.The casino operator posted revenue of $1.42 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.25 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WYNN at https://www.zacks.com/ap/WYNNSource

How major US stock indexes fared Tuesday 5/9/2023

Published Tue, 05 Nov 2024 16:45:51 GMT

Wall Street edged lower following some mixed earnings reports, as stocks remain roughly where they’ve been stuck for more than a month. The S&P 500 fell 0.5% Tuesday, and the Dow Jones Industrial Average lost 56 points, or 0.2%. The Nasdaq fell 0.6%. The next big milestone for the market will be Wednesday’s report on inflation, which has come down but remains high. It could dictate the Federal Reserve’s next move on interest rates. Political leaders are also meeting in Washington Tuesday to try to avoid a default on the U.S. government’s debt.On Tuesday:The S&P 500 fell 18.95 points, or 0.5%, to 4,119.17.The Dow Jones Industrial Average fell 56.88 points, or 0.2%, to 33,561.81.The Nasdaq composite fell 77.36 points, or 0.6% to 12,179.55.The Russell 2000 index of smaller companies fell 4.79 points, or 0.3%, to 1,749.68.For the week:The S&P 500 is down 17.08 points, or 0.4%.The Dow is down 112.57 points, or 0.3%.The Nasdaq is down 55.86 points, or 0.5%.The Russell 2000 is ...

MacroGenics: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — MacroGenics Inc. (MGNX) on Tuesday reported a loss of $38 million in its first quarter.On a per-share basis, the Rockville, Maryland-based company said it had a loss of 61 cents.The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.The biopharmaceutical company posted revenue of $24.5 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $129.7 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGNX at https://www.zacks.com/ap/MGNXSource

Similar Genomics Systems: Q1 Earnings Snapshot

Published Tue, 05 Nov 2024 16:45:51 GMT

SAN DIEGO (AP) — SAN DIEGO (AP) — Singular Genomics Systems Inc. (OMIC) on Tuesday reported a loss of $23.6 million in its first quarter.On a per-share basis, the San Diego-based company said it had a loss of 33 cents.The life science technology company posted revenue of $863,000 in the period._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OMIC at https://www.zacks.com/ap/OMICSource