Finance

AMZN, PINS, EXPE and more

Published

4 months ago

February 6, 2025

Business Finance News

Amazon signage during the 2024 CES event in Las Vegas, Nevada, on Jan. 10, 2024.

Bridget Bennett | Bloomberg | Getty Images

Check out the companies making headlines in extended trading:

Amazon — The e-commerce giant fell 2% after issuing weaker-than-expected guidance for the current quarter. Amazon said it forecasts sales in the first quarter between $151 billion and $155.5 billion. Analysts surveyed by LSEG were looking for $158.5 billion. Meanwhile, the company’s fourth-quarter earnings and revenue were above consensus expectations.

Take-Two Interactive Software — The video game company jumped nearly 7% despite posting fiscal third-quarter revenue of $1.37 billion. Analysts polled by LSEG had expected $1.39 billion. Take-Two sees its current-quarter revenue, based on net bookings, coming in between $1.48 billion and $1.58 billion versus the estimated $1.54 billion.

Affirm Holdings — Shares of the payment company jumped more than 9% following a top-line beat for the fiscal second quarter. Affirm reported $866 million in revenues, while analysts expected $807 million, per LSEG. Gross merchandise volume grew 35% year-over-year in the prior quarter.

Pinterest — Shares of the social media company popped 18%. Revenue for the fourth quarter came in at $1.15 billion, slightly ahead of analysts’ estimates of $1.14 billion, per LSEG. Pinterest also said it expects revenue of $837 million to $852 million in the first quarter, while analysts sought $833 million.

Expedia — The stock gained 11% after the company’s fourth-quarter results topped Wall Street expectations. Expedia posted adjusted earnings of $2.39 per share on revenue of $3.18 billion. That is more than the $2.04 per share on $3.07 billion in revenue that analysts had penciled in, according to LSEG. The company also reinstated its quarterly dividend at 40 cents per share.

Bill Holdings — Shares plunged about 32% after the billing software company issued disappointing fiscal third-quarter revenue guidance. Bill Holdings expects for that period to generate revenue between $352.5 million and $357.5 million, below the $360.4 million that analysts surveyed by LSEG were expecting. However, earnings and revenue for the second quarter beat analysts’ expectations.

Fortinet — The cybersecurity stock rallied 11%. Fortinet posted better-than-expected results for the fourth quarter, in addition to strong guidance for the full year. Fortinet sees full-year revenues falling between $6.65 billion and $6.85 billion, topping the $6.63 billion estimate from analysts, per LSEG.

E.l.f. Beauty — The cosmetics company tumbled 23% after slashing its guidance for the full fiscal year. E.l.f now sees sales ranging from $1.3 billion to $1.31 billion, short of consensus estimates of $1.34 billion, per StreetAccount. Adjusted earnings for the third quarter also narrowly missed expectations, coming in at 74 cents per share versus analysts’ forecast for 75 cents a share, per LSEG.

Monolithic Power Systems — The semiconductor stock soared 16% following strong fourth-quarter results. Monolithic Power Systems reported adjusted earnings of $4.09 per share on revenue of $621.7 million. Analysts surveyed by FactSet had called for earnings of $3.98 per share on $608.1 million in revenue. The company also issued better-than-expected revenue guidance for the current quarter and a $500 million stock repurchase program. Management also increased the quarterly dividend by nearly 25%.

— CNBC’s Sean Conlon, Lisa Kailai Han and Darla Mercado contributed reporting.

Finance

CVX, UAL, NOC, RH and more

Published

12 minutes ago

June 13, 2025

Business Finance News

Finance

Trump CFPB cuts reviewed by Fed inspector general

Published

21 hours ago

June 12, 2025

Business Finance News

Director of the Office of Management and Budget (OMB) Russell Vought attends a cabinet meeting at the White House in Washington, D.C., U.S., April 10, 2025.

Nathan Howard | Reuters

The Federal Reserve’s inspector general is reviewing the Trump administration’s attempts to lay off nearly all Consumer Financial Protection Bureau employees and cancel the agency’s contracts, CNBC has learned.

The inspector general’s office told Sen. Elizabeth Warren, D-Mass., and Sen. Andy Kim, D-N.J., that it was taking up their request to investigate the moves of the consumer agency’s new leadership, according to a June 6 letter seen by CNBC.

“We had already initiated work to review workforce reductions at the CFPB” in response to an earlier request from lawmakers, acting Inspector General Fred Gibson said in the letter. “We are expanding that work to include the CFPB’s canceled contracts.”

The letter confirms that key oversight arms of the U.S. government are now examining the whirlwind of activity at the bureau after Trump’s acting CFPB head Russell Vought took over in February. Vought told employees to halt work, while he and operatives from Elon Musk‘s Department of Government Efficiency sought to lay off most of the agency’s staff and end contracts with external providers.

That prompted Warren and Kim to ask the Fed inspector general and the Government Accountability Office to review the legality of Vought’s actions and the extent to which they hindered the CFPB’s mission. The GAO told the lawmakers in April that it would examine the matter.

“As Trump dismantles vital public services, an independent OIG investigation is essential to understand the damage done by this administration at the CFPB and ensure it can still fulfill its mandate to work on the people’s behalf and hold companies who try to cheat and scam them accountable,” Kim told CNBC in a statement.

The Fed IG office serves as an independent watchdog over both the Fed and the CFPB, and has the power to examine agency records, issue subpoenas and interview personnel. It can also refer criminal matters to the Department of Justice.

Soon after his inauguration, Trump fired more than 17 inspectors general across federal agencies. Spared in that purge was Michael Horowitz, the IG for the Justice Department since 2012, who this month was named the incoming watchdog for the Fed and CFPB.

Horowitz, who begins in his new role at the end of this month, was reportedly praised by Trump supporters for uncovering problems with the FBI’s handling of its probe into Trump’s 2016 campaign.

Meanwhile, the fate of the CFPB hinges on a looming decision from a federal appeals court. Judges temporarily halted Vought’s efforts to lay off employees, but are now considering the Trump administration’s appeal over its plans for the agency.