Turkey’s devastating earthquake comes at a critical time for the country’s future

Civilians look for survivors under the rubble of collapsed buildings in Kahramanmaras, close to the quake’s epicentre, the day after a 7.8-magnitude earthquake struck the country’s southeast, on February 7, 2023. Adem Altan | AFP | Getty Images Life for millions across Turkey and Syria changed forever on Monday, as two consecutive earthquakes sent shockwaves across hundreds of miles. Nine hours apart and measuring a magnitude of 7.8 in Turkey and 7.5 in Syria on the Richter scale, the quakes were the region’s strongest in nearly a century. At the…

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Stocks making the biggest moves premarket: Uber, Chipotle, Microsoft, Lumen and more

Check out the companies making headlines in premarket trading. Uber said it is “currently responding to a cybersecurity incident” after reports that a hacker compromised its systems. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Uber — The ride-hailing app’s shares rose more than 7% after it posted fourth-quarter earnings that topped analyst estimates. Uber earned 29 cents a share, beating analysts’ estimate of an 18 cent loss, Refinitiv data showed. Uber’s revenue for the quarter was up 49% year-over-year. CEO Dara Khosrowshahi said Uber ended 2022 with…

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Why Dick’s Sporting Goods succeeded where Sports Authority failed

In 2022, the sporting goods business had an estimated market size of $67.2 billion and was enjoying its ranking as one of the fastest-growing industries in the U.S. since 2018. The most significant player in the space, Dick’s Sporting Goods, controls an estimated 14.2% of the market, the most by a single company. In 2021, Dick’s posted a record annual revenue, hitting $12.3 billion, and its net income tripled as it pivoted its distribution strategy during the pandemic. Dick’s looks to sustain its record growth under CEO Lauren Hobart, the…

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All you need to know about ChatGPT, the A.I. chatbot that’s got the world talking and tech giants clashing

ChatGPT sign displayed on OpenAI website displayed on a laptop screen and OpenAI logo displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on February 2, 2023. Jakub Porzycki | Nurphoto | Getty Images What is ChatGPT? I asked the buzzy artificial intelligence chatbot, which has ignited conversation in schools, corporate boardrooms and social media, to explain itself. In its own description, ChatGPT is “an AI-powered chatbot developed by OpenAI, based on the GPT (Generative Pretrained Transformer) language model. It uses deep learning techniques…

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5 things to know before the stock market opens Wednesday

Customers order from a Chipotle restaurant at the King of Prussia Mall in King of Prussia, Pennsylvania. Mark Makela | Reuters Here are the most important news items that investors need to start their trading day: 1. The earnings feast continues Even as investors chew over the latest remarks from Federal Reserve Chairman Jerome Powell (more below), they’re digging into the next course in the earnings season menu. Yum Brands reported Wednesday morning, following Chipotle‘s lackluster report after the bell Tuesday. Under Armour, Uber and CVS Health also posted results.…

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American Economy Better In Terms Of Growth Than Any Other Country On Earth, Says Joe Biden

Amidst the global economic crisis, US president Joe Biden claims the American economy is positioned better in terms of growth than any other country on earth, despite the ongoing Covid-19 disruptions and Russia’s Ukraine invasion. The president was addressing the second state of the Union address on Tuesday evening at the national Capitol. He said, the pandemic has disturbed the country’s supply chain, while Putin’s unfair measures and Ukraine’s brutal war have further disrupted the energy supplies, rolling down the supply of food as well. He added, today the economy of America is…

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Stocks making the biggest moves after hours: Chipotle, Enphase Energy, Fortinet and more

A Chipotle restaurant in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Check out the companies making headlines after hours. Chipotle Mexican Grill — Shares fell more than 4% in extended trading after Chipotle Mexican Grill missed analysts’ expectations on the top and bottom lines. The burrito chain reported earnings of $8.29 per share on revenue of $2.18 billion. Analysts polled by Refinitiv were anticipating earnings of $8.90 per share on revenue of $2.23 billion. Enphase Energy — The solar stock jumped more than 8% after Enphase…

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Stocks making the biggest moves premarket: Chegg, Baidu, Bed Bath & Beyond, Hertz and more

A screen displays the Hertz logo during the Hertz Corporation IPO at the Nasdaq Market site in Times Square in New York, November 9, 2021. Brendan McDermid | Reuters Check out the companies making headlines before the bell: Chegg — Shares dropped 22.7% following its earnings report Monday . The company gave first-quarter and full-year revenue guidance that was below analyst expectations, according to Refinitiv. Chegg noted subscriber growth challenges and concerns related to the health of the broader economy. Baidu — Shares surged more than 13% after Baidu said…

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5 things to know before the stock market opens Tuesday

U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023.  Jonathan Ernst | Reuters Here are the most important news items that investors need to start their trading day: 1. Moving on Monday’s session ended on a down note across the board, as bond yields and the dollar index rose, although the Dow did scrape its way to only a slight loss…

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Prez Wickremesinghe Assures To Fix Sri Lanka’s Debt-ridden Economy

Amidst the ongoing financial crisis in Sri Lanka, President Ranil Wickremesinghe on Sunday assured of fixing the debt-ridden country by treating the “root cause” of the malaise and not by administering “painkillers.” The president in his series of tweets suggested systematic change and national unity in conjunction with economic reforms can help the country to achieve prosperity. He further pointed out many of his decisions as unpopular. But this will not let any of my fellow citizens starve or die in queues, he added. He said, despite the obstacles, I…

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