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Stocks making the biggest moves after hours: Gap, Salesforce, Intuit

Stocks making the biggest moves after hours: Gap, Salesforce, Intuit

Finance
Kuni Takahashi | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell:Shares of Gap slid as much as 7% before settling around 1% lower in extended trading after the retailer posted second-quarter sales that missed estimates. The company reported adjusted earnings per share of 63 cents on revenue of $ 4.01 billion. Analysts had expected earnings per share of 53 cents on revenue of $ 4.02 billion, according to Refinitiv consensus estimates. CEO Art Peck cited a "challenging environment" in which all of its brands, including Old Navy, experienced a sales decline.Salesforce climbed 7% after the company announced better-than-expected quarterly revenue and raised its annual forecast. The cloud-based software company reported adjusted second-quarter earnings per ...
Cuadrilla suspends fracking after biggest tremor yet

Cuadrilla suspends fracking after biggest tremor yet

Business
By John-Paul Ford Rojas, business reporter Cuadrilla has suspended fracking at Britain's only shale gas exploration site after it recorded its biggest tremor yet.Operations were paused for 18 hours after what it called a "micro seismic" event of magnitude 1.55 was detected at 8.46pm on Wednesday. Work was halted several times last year due to minor tremors and it was only last week that Cuadrilla said it was resuming fracking at the Preston New Road site in Little Plumpton, near Blackpool in Lancashire.The magnitude of the latest event was bigger than the previous largest recorded - at 1.5 - last December.Cuadrilla said Wednesday's tremor was only equivalent to "a large bag of shopping dropping to the floor" and that "most local people ...
Bond market close to sending biggest recession signal yet

Bond market close to sending biggest recession signal yet

Finance
Scott Olson | Getty ImagesAs Wall Street economists up the odds for a recession in the coming year, the bond market is sending its own scary warning about an economic downturn.Various parts of the yield curve have been inverted, but the traditionally watched 2-year to 10-year spread looks set to invert any day now, with the curve at its flattest level since 2007.The 10-year yield, at its low yield of 1.64% Monday came less than 6 basis points above the 2-year yield, which was at 1.58% in afternoon trading. The spread broke below 10 basis points last week. An inverted curve simply means a shorter-term interest rate is higher than the longer-term one that it is being compared too, and that inversion has been a reliable recession signal. "It's the whole idea that the Fed is making a mistake. ...
Fortnite World Cup: Players battle for biggest total prize pool

Fortnite World Cup: Players battle for biggest total prize pool

Technology
Media playback is unsupported on your device The finals of the Fortnite World Cup are taking place in a stadium in New York, with the winner set to earn more prize money than Simona Halep and Novak Djokovic won as Wimbledon champions.Forty million players attempted to qualify over 10 weeks of online competition but only 100 finalists have a shot at winning the $ 3m (£2.4m) prize at Flushing Meadows.With $ 30m to be awarded in total, the prize pool will be the biggest given away at an e-sports event so far - until the annual DOTA 2 tournament in August.All finalists will take home at least $ 50,000 and the runner-up, as well as third and fourth-placed finishers, will all become millionaires.
Stocks making the biggest moves after hours: Facebook, Amazon, Snap, Chipotle, iRobot and more

Stocks making the biggest moves after hours: Facebook, Amazon, Snap, Chipotle, iRobot and more

Finance
A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company's IPO in New York.Brendan McDermid | ReutersCheck out the companies making headlines after the bell:Shares of technology companies Facebook, Alphabet and Amazon all fell more than 1% after the U.S. Department of Justice said it is opening a broad antitrust review of big tech companies. Apple's stock also ticked down following the report. The review is the biggest move yet by Attorney General William Barr to impose greater regulation on the sector. Snap soared more than 12% in after-hours trading after the parent company of Snapchat reported second-quarter earnings that surpassed Wall Street's estimates. The company reported a smaller-than expected loss per share of 6 cents on r...