Apple's revenue grew considerably during the most recent quarter but iPhone sales were down. The company sold 77.3 million iPhones during the holiday quarter, about one million less than the same time last year. It's the first time Apple has ever seen declining sales on its iPhones during the holiday season. However, the company did post $88.3 billion in revenue, up 13% from last year.
There was good news and bad news in the earnings report for Alphabet, the parent company of Google. The company beat expectations on revenue but fell short on earnings. Ad sales were strong but that profit was offset by increased ad spending.
And Amazon soared past Wall Street expectations thanks to strong holiday sales. The company beat on revenue and earnings. Amazon also set a new record, posting profits above $1 billion for the first time.
We dive into these earnings reports with Gene Munster, Managing Partner at Loup Ventures. Munster believes Amazon's profitability was a one-time thing. He is also predicting that Apple will release a new iPhone soon with a screen that's 25% bigger.
Plus, Cheddar's CEO Jon Steinberg talks to veteran newsman Dan Rather about his new partnership with The Young Turks. Rather now has a half-hour show airing on the network's YouTube channel. "The News with Dan Rather" will offer commentary and analysis on today's news, something he never did on "CBS Evening News." The show airs Mondays at 5:30pm ET.
Guinness Ambassador and Pro Football Hall of Famer Joe Montana and Diageo CEO Nuno Teles got to ring the closing bell at the New York Stock Exchange to celebrate the St. Patrick’s Day holiday for the first time in two years. "We're just happy to be out here celebrating today. not only St. Patrick's Day, but the ability for all of us to get together again, right, and be able to celebrate St. Patrick's Day," said Montana. And with March 17th being the biggest day of the year for the Guinness brand, it comes amid supply chain woes. "Well, there's a high demand and with high demand, we need to really go and be more creative in the way we manage the supply," Teles said. "So we have been able to allocate product, making sure that everyone has what they need to go through this important period of the year, which is St. Patrick's."
Bioscience and genetic engineering company, Colossal, raised $60 million in a Series A funding round. Colossal is focused on developing new technologies and genetic tools to restore extinct species, and protect critically endangered species. One of the startup's long-term goals is to resurrect the woolly mammoth, and return it back to the arctic. Colossal also says it is developing technology that expands beyond animals, and has the potential to advance human health. Ben Lamm, co-founder and CEO of Colossal, joins Cheddar News' Closing Bell to discuss.
Analysts are puzzled by AMC Theaters' purchase of a 22 percent stake in a Nevada-based gold and silver mine this week. Cheddar's Alex Vuocolo investigates.
Amazon has closed its $8.5 billion acquisition of Hollywood studio MGM, two days after European regulators said the deal “would not significantly reduce competition” in European markets.
Markets opened lower as the Federal Reserve announces plans to hike interest rates by a quarter point, while signaling six additional rate hikes later this year. Gary Schlossberg, Global Strategist, Wells Fargo Investment Institute, joined Cheddar's Opening Bell to discuss.
Ahmed Riesgo, Chief Investment Officer for Insigneo, discusses the importance of the Fed's comments on future rate hikes and what lower-than-expected Retail Sales data means for consumer spending in the near term.
Jordan Mauriello, CEO of MoreYellow, talks about the evolving landscape of female gamers and why brands see Influencers as more valuable than their male counterparts.
