The day with the s p 500 up 1. 3 , building on the gains from yesterday. Biotech and Technology Stocks bouncing back with ten of the 11 s p sectors trading in positive territory. And lets draw your attention to spotify, up a whopping 16 , highest level since march of 2021 on the back of its earnings beat also, check out jetblue, sinking after reporting worse than expected revenue. On the other hand, aviation engineer making air owe maker ge autos, gm up beating on earnings well take a technical look at that name further ahead. Another name, that would be tesla reporting after the bell that name along with other big tech stocks become the target of short sellers. For that we turn to kate rooney. Hi, kate. Hi, tyler the bears are betting against big techs short sellers and the magnificent seven, weekly profit of 10 billion that was an alltime high during that nasdaq selloff the tech giants mostly report this week and they are the most shorted stocks in the u. S. Markets. Thats according
The news comes as the currency fell to a fiveyear low but then recovered. Chairman of China Telecom has quit after an official investigation. He will be replaced temporarily by the chief operating officer. Authorities say chong was questioned about severe violations of discipline. That is code for corruption. Shanghai are being warned to stay indoors. The air is heavily polluted today. The particularys its were 10 times above the internationally safe level. Here is a quick check of the asian markets. Im cory johnson in for emily chang. You are watching bloomberg west. Failure which companies are best prepared for the digital future. How hollywood smashed the sales record for all time. Apple is paying 348 million to settle an italian tax bill. Apple had been accused of evading taxes over the span of five years by booking italian sales through its irish subsidiary. More favorable Corporate Tax rates. Each country where they do business. Explain this tax practice that that these yahoos at
More than 150 news bureaus across the world. Cory im cory johnson and this is bloomberg west. How do you say taxes in italian . Lets take a look at which companies are best prepared for the digital future. Dragaurs, droids, and racing. What smash the Box Office Sales record for all time. We will have the details. Million tog 340 settle its italian tax bill. Apple had been accused of evading taxes over five years by booking italian fayette sales. Hrough its irish subsidiary as part of a broader eu crackdown making multinationals pay with a oh in each country where they do business. Mark, explain this tax practice that apple followed. Essentially where they structure some of their sales through their irish the theory, which is not an in network in operation for apple. They have been operating in ireland since 1980 and are expanding their, but they sort tactic which is fairly common for a global apple where like they put the manager alan so they pay on irelands Corporate Tax rate which is
View of the ball, but is it worth the 400 price tag . The taste test with the spread from applebys. Its officially a wrap on 2015. Ending down 178 points. Dow and s p seeing their worse year since 2008. Nasdaq finished positive by 5. 5 . Take a look at stocks that stood out this year. The top two dow performers, they were nike and mcdonald. The top two s p 100 performers, ahmae amazon and netflix, trades for the year. Do you bid them along . Happy new year. Timmy was all year long belling mcdonalds. Theyve proven theyve gotten through their growing pains or difficulties they were having and figured it out good. For them. I think you stay with netflix as well. It has not traded well for the last 1 1 2 months, two months or so. Netflix faltered. I still think its too hard to replicate it. When earnings come around, you are going to be happy you were involved in the stock. How can you say its too tough to replicate netflix . There is a lot of competition. Anyone whos got distribution like
Dealing with what is a very wet and potentially dangerous winter. Reporter yeah, timing is important here, sam and laura. Thats how you got that announcement here in the Mayors Office just wrapping up and mayor ed lee saying the attitude at city hall is theyre always planning for a disaster for the rain. Planning for this apparently last fall coordinating among many agencies. 1,100 beds additionally open with more set aside for overflow in seven dedicated areas in the city where there are more homeless. Setting up in phases of 200 to 300 beds. Theyre working with Salvation Army and providing food. Public works passing out sandbags to Property Owners while several preparing for heavy rains, high winds, power outages, mudslides and landslides and trying to get to as many people as they can. Its about doing the right thing and making sure they take care of communications, their family, their businesses and their neighbors. Reporter and this is happening as federal Disaster Relief workers