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Amazon (AMZN) is rolling out a “handy” payment upgrade to its Whole Foods locations.
Paying with biometric data is becoming a common, convenient way to shop thanks to Amazon One. But, as it becomes more common, data-conscious shoppers may face a difficult decision.
US stocks were mixed Thursday after a flurry of major corporate earnings.
• Tesla (TSLA) reported all-time high quarterly revenue of $24.93 billion, but its operating margin dropped to 9.6%. Revenue from Tesla's core automotive business rose 46% year-over-year to $21.27 billion. Precise specs and delivery dates for the Cybertruck and a robotaxi-ready vehicle were not discussed on the earnings call.
• American Airlines (AAL) raised its earnings outlook for 2023 after a strong start to the peak travel season. The airline reported record revenue of $14.06 billion, topping analyst expectations and up 4.7% from the year prior. The company's flying capacity was also up 5.3% year-over-year. The airline expects to earn between $3 and $3.75 per share for the full year, up from May’s forecast of $2.50 to $3.50.
• Netflix (NFLX) reported an 8% increase in subscriptions in the second quarter. The company cracked down on password sharing, which it claims helped boost subscriptions. As it begins to see the full benefits of paid sharing and the steady growth in its ad-supported plan, Netflix expects revenue growth in the second half of the year.
What to be on the lookout for today
• American Express (AXP) will report its second-quarter earnings. The global financial services company could clear up rumors on whether it plans to take over Apple’s (AAPL) credit card and savings products from Goldman Sachs (GS).
Here’s how to avoid the mistakes many homebuyers make.
For first-time homebuyers (or any homebuyer) the business of buying a house can be tricky. There’s so much to learn and do all at once, with the potential for plenty of pitfalls along the way. These smart moves will help make the process go a lot more smoothly.
• Get preapproved for a mortgage before you start house-hunting. In a competitive market you’ll be ahead of the game if a lender has already determined you to be loan-worthy. If you end up in a bidding war, you may have a leg up with the sellers.
• Understand your home buying budget. You may have your heart set on an amazing house, but unless you can afford it, you could end up overbidding and financially overextending yourself. That could land you in debt. Do the math and be realistic about what you can afford. This mortgage calculator can help.
• Keep a cool head. The home-buying process is fraught with emotion. You might argue over a property with your significant other. Or a seller or their agent might do something that threatens to send you over the edge. Instead of overreacting and potentially passing up a good deal, or pursuing a bad one, take a moment and breathe. Remind yourself of the goal at hand. Keeping calm can help get you where you need to go — namely, in the front door of your new home.
Today’s top stories
Walmart (WMT) shows its sensitive side. The world’s biggest retailer will be dimming the lights one morning per week to create a “sensory friendly” environment for customers. Will this spark an inclusive retail revolution? Read more >> High-quality health testing in every home across the country? A startup run by MIT scientists has raised $27 million to make it a reality. Find out how. Read more >> The options for investing in green stocks are growing, providing more opportunity for interested investors. The most well-known green tech sectors and green stocks include renewable energy and electric vehicles, but green investment can apply to nearly every industry. Read more >>Not-so-breaking news
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Starbucks (SBUX) announced a partnership with K-pop group Blackpink. The partnership will feature a Blackpink Strawberry Choco Cream Frappuccino sold across nine Asian markets.
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InDrive launched in its first US market, Florida. The unique ride-hailing service, popular in Asia and Latin America, uses a bid-style pricing method in which customers name a price, and drivers accept or counter.
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UPS (UPS) is returning to the bargaining table with a better offer for its union workers. A 10-day strike from the 340,000-person union could have an economic impact of roughly $7 billion.
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Netflix (NFLX) will no longer offer its free ad-supported tier. Users who already subscribe to this tier can continue to watch content, but no new members will be able to sign up.
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Kim Kardashian’s shapewear brand Skims hit a $4 billion valuation. This valuation comes as the apparel brand recently raised $270 million, led by Wellington Management.
Financial planner tip of the day
"A bond is basically loaning someone — a government, company, or municipality — money. Bonds can provide a steady stream of income, which includes interest payments and initial investment. However, bonds are riskier than cash. Bond issuers can default, and the yields in the long-term aren’t as high as other investments."
Brian Walsh, CFP® at SoFi