one hour ago
McConnell joins Democrats in ruling out a US debt default after the White House meeting
President Joe Biden and Democratic leaders, as well as Republican Senate Majority Leader Mitch McConnell, have all pledged that the United States will not default on its debt after a high-stakes meeting at the White House.
“I made it clear during the meeting that default is not an option,” Biden said in a hastily held news conference.
“The United States has never defaulted on its debt and never will,” said McConnell, who attended the meeting with Republican House Speaker Kevin McCarthy, Democratic Senate Majority Leader Chuck Schumer, and House Minority Leader Hakeem Jeffries, both of New York. .
Schumer said McCarthy was the only one present at the meeting who did not rule out default. “We expressly asked Speaker McCarthy if he would take the default off the table, but he refused,” Schumer said.
For his part, McCarthy told reporters that he did not see “any new move” in the negotiating positions. “Everyone in this meeting repeated the positions they had,” he said.
Although little progress has been made, the leaders will meet again on Friday. In the meantime, their aides will meet every day, Biden said.
– Christina Wiki
2 hours ago
Airbnb fell 11% on light guidance
Airbnb shares lost 11% in extended trading after sharing soft guidance for the current quarter.
Despite the after-hours losses, Airbnb reported its first quarter profits It beat analyst estimates on both the top and bottom lines.
Looking ahead, the company warned of tough comparisons in the second quarter. Last year, the company capitalized during this period of pent-up travel demand after the Omicron surge.
For the current period, Airbnb said it expects lower booking growth and average daily rates than last year.
Airbnb is disappointing
– Samantha Sobin, Ashley Cabot
2 hours ago
Twilio, confirmed among stocks that move after hours
Here are some of the names that made the biggest moves after the bell:
Twilio — Shares of Twilio fell nearly 14% after providing a lower-than-expected forecast for the current quarter. The company posted a slight win over revenue.
Rivian Electric Vehicles stock gained more than 5% in the extended trading period. Rivian reported a smaller-than-expected loss and revenue beat Wall Street expectations. The company also reaffirmed the goal of producing electric vehicles.
Confirmation – Shares of Buy Now Pay Later fell more than 9% despite better-than-expected revenue. Losses in the quarter tripled from a year ago, but were narrower than expected.
– Samantha Sobin
2 hours ago
Stock futures open lower
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”