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Business Highlights: WeWork seeks bankruptcy protection; Yellen blasts GOP bid to cut IRS funding

Published Tue, 05 Nov 2024 10:31:34 GMT

___WeWork seeks bankruptcy protection in stunning fall for a company once valued close to $50 billionNEW YORK (AP) — WeWork has filed for Chapter 11 bankruptcy protection. It marks a stunning but anticipated fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world. WeWork says it entered into a restructuring support agreement with the majority of its stakeholders to “drastically reduce” its debt while further evaluating its commercial office lease portfolio. WeWork added that it is seeking to cancel leases in locations that WeWork described as largely non-operational. All affected WeWork members have received advanced notice.___Treasury’s Yellen calls Republican effort to cut IRS funding for Israel ‘damaging and irresponsible’WASHINGTON (AP) — The IRS commissioner says for the agency to keep building on its customer service and enforcement priorities it needs a reliable funding stream. IRS Commissioner...

Inspire: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

GOLDEN VALLEY, Minn. (AP) — GOLDEN VALLEY, Minn. (AP) — Inspire Medical Systems Inc. (INSP) on Tuesday reported a loss of $8.5 million in its third quarter.On a per-share basis, the Golden Valley, Minnesota-based company said it had a loss of 29 cents.The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.The maker of devices for treating obstructive sleep apnea posted revenue of $153.3 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $156.1 million.Inspire expects full-year revenue in the range of $608 million to $612 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INSP at https://www.zacks.com/ap/INSPSource

Toast: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

BOSTON (AP) — BOSTON (AP) — Toast Inc. (TOST) on Tuesday reported a loss of $31 million in its third quarter.On a per-share basis, the Boston-based company said it had a loss of 9 cents.The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.The restaurant software provider posted revenue of $1.03 billion in the period, meeting Street forecasts.For the current quarter ending in December, Toast said it expects revenue in the range of $1 billion to $1.03 billion.The company expects full-year revenue in the range of $3.83 billion to $3.86 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TOST at https://www.zacks.com/ap/TOSTSource

Power Integrations: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Power Integrations Inc. (POWI) on Tuesday reported third-quarter net income of $19.8 million.The San Jose, California-based company said it had net income of 34 cents per share. Earnings, adjusted for stock option expense and amortization costs, came to 46 cents per share.The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.The maker of integrated circuits used for power conversion posted revenue of $125.5 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $130.8 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on POWI at https://www.zacks.com/ap/POWISource

Devon Energy: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

OKLAHOMA CITY (AP) — OKLAHOMA CITY (AP) — Devon Energy Corp. (DVN) on Tuesday reported third-quarter net income of $910 million.On a per-share basis, the Oklahoma City-based company said it had net income of $1.42. Earnings, adjusted for non-recurring costs and pretax expenses, came to $1.65 per share.The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.The oil and gas exploration company posted revenue of $3.84 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $4.03 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DVN at https://www.zacks.com/ap/DVNSource

Tiger Woods to own and play for Florida team in TGL, his tech-infused golf league

Published Tue, 05 Nov 2024 10:31:34 GMT

Tiger Woods couldn’t be more involved with prime-time TGL unless he had built the arena. He helped develop the tech-infused golf league. He’s playing in it. And now he’s a team owner.Woods and his TGR Ventures and David Blitzer, the investor who has ownership in all four major U.S. sports leagues, were announced Tuesday as owners of Jupiter Links GC, the sixth and final team for the first-of-its-kind golf league that starts in January.Woods, Rory McIlroy and former Golf Channel president Mike McCarley are founding partners in TMRW Sports, the sports and entertainment company behind TGL.“Having the opportunity to not only compete, but also own a team to represent Jupiter is an exciting next chapter for me,” Woods said Tuesday.Woods referred to TGL as a “modern twist of traditional golf” that ultimately will make it more accessible by leaning the glitz of technology. Key to the modernization is playing in SoFi Center in Palm Beach Gardens, Florida, an arena that hold...

Collegium Pharmaceutical: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

STOUGHTON, Mass. (AP) — STOUGHTON, Mass. (AP) — Collegium Pharmaceutical Inc. (COLL) on Tuesday reported third-quarter net income of $20.6 million.The Stoughton, Massachusetts-based company said it had profit of 53 cents per share. Earnings, adjusted for one-time gains and costs, were $1.34 per share.The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.The specialty pharmaceutical company posted revenue of $136.7 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $139.5 million.Collegium Pharmaceutical expects full-year revenue in the range of $565 million to $570 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COLL at https://www.zacks.com/ap/COLLSource

Turtle Beach: Q3 Earnings Snapshot

Published Tue, 05 Nov 2024 10:31:34 GMT

WHITE PLAINS, N.Y. (AP) — WHITE PLAINS, N.Y. (AP) — Turtle Beach Corp (HEAR) on Tuesday reported a loss of $3.6 million in its third quarter.The White Plains, New York-based company said it had a loss of 21 cents per share.The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.The audio technology company posted revenue of $59.2 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $53.9 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HEAR at https://www.zacks.com/ap/HEARSource

Dogs' owners wanted in attack at Arapahoe County park

Published Tue, 05 Nov 2024 10:31:34 GMT

DENVER (KDVR) -- Arapahoe County Animal Services is asking for help identifying two suspects whose dogs attacked another dog and its owner.According to authorities, three dogs attacked a female victim and her dog at the Cheyenne-Arapaho Dog Park on Thursday at about 12:20 p.m., causing the hurt dog to need at least two sets of stitches. 2 boys seriously hurt in neighborhood ATV crash The three attacking dogs were described as medium size, mixed breed and dark in color. A picture of the female suspect in her vehicle shows a medium-sized, brindled, short-haired dog in the backseat. The victim was able to capture photos of both the man and woman whose dogs attacked her and her dog.According to the victim's account to law enforcement, she arrived at the park with her dog when the trio of canines rushed her, biting the woman's hand and her dog's stomach and neck. The pair of suspects then reportedly left "immediately" with their dogs in a gray Nissan Altima with no license plates.The A...

Denver weather: Rain and snow showers to return along with cooler temperatures

Published Tue, 05 Nov 2024 10:31:34 GMT

DENVER (KDVR) — The Pinpoint Weather team is tracking a cold front that will move across Colorado on Wednesday and bring rain and snow showers to Denver weather along with cooler temperatures. The central mountains will see the most accumulation with 2-4 inches in town and deeper 4-7 inches over the higher peaks. FOX31 Newsletters: Sign up for alerts from the Pinpoint Weather team According to Pinpoint Weather, Colorado’s Most Accurate Forecast, the Denver metro will see a rain/snow mix with light grassy accumulation as roads stay wet given the past few warm days.There could be up to an inch in areas west of the city in the foothills and south of downtown across the Palmer Divide.Weather tonight: Turning cloudy and coldSkies will turn cloudy overnight ahead of the approaching cold front. It will be breezy at times. Snow showers will develop in the northern mountains overnight with light accumulation. Temperatures will be in the cold 20s across the high country and in th...