Zoom reports big 3Q gains, but slowing growth sinks stock

SAN RAMON, Calif. (AP) — Zoom’s videoconferencing service remains a fixture in pandemic life, but its breakneck growth is showing signs of tapering off as investors debate whether the company will be able to build upon its recent success after a vaccine enables people to intermingle again.

For now, Zoom is thriving as tens of millions of people who never heard of the service at the beginning of the year rely on its video meeting tools to connect with their co-workers, teachers, friends and family while efforts to fight contain the pandemic prevent them from going into offices, schools and most many other places. That dependence boosted Zoom’s fortunes, producing a pandemic-driven success story that was highlighted again Monday with the release of the company’s quarterly results for the August-October period.

Zoom’s revenue more than quadrupled from the same time last year to $777 million, yielding a profit of $198

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Tesla Reliability Sinks In Consumer Reports Annual Survey

No one expects to have to give their car a trim after taking delivery, but one Tesla customer reported finding hair in the paint of a new Tesla Model Y. That was only one example of poor workmanship on Tesla’s newest model consumers reported in the 2020 Consumer Reports Vehicle Reliability Study. 

Tesla’s overall poor performance in the annual study placed it second to last among the 26 ranked brands. Ford’s Lincoln

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Amazon’s Pharmacy Rollout Sinks Drugstore Stocks

Amazon.com  (AMZN) – Get Report officially opened the virtual doors of Amazon Pharmacy, a new full-service digital pharmacy that lets Amazon Prime members order and fill their prescriptions online and have them delivered directly to their front doors.

The offering puts Amazon in direct competition with pharmacy giants CVS Health  (CVS) – Get Report and Walgreens Boots Alliance  (WBA) – Get Report, and helps it compete with Walmart  (WMT) – Get Report, Target  (TGT) – Get Report and other big-box stores that already sell prescription drugs.

Walgreens Boots, CVS Health and Rite Aid  (RAD) – Get Report all traded lower in premarket trading on Tuesday after Amazon’s announcement. Shares of Walgreens Boots were down 8.7% at $40.26, while shares of CVS were down 7.95% at $67.63. Rite Aid stock was down 12.79% at $11.28.

The new

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Tech earnings tsunami buoys Alphabet, sinks Apple

(Reuters) – Alphabet GOOGL.O rallied, Apple AAPL.O sank and Twitter TWTR.N tumbled on Thursday after a mixed bag of quarterly reports from top-tier technology companies that investors have relied on this year to power a stock market rally through the coronavirus pandemic.

Share swings following the reports from the tech heavyweights after the bell sent exchange-traded funds tracking the S&P 500 .SPX and Nasdaq .IXIC down about 1% each, suggesting Wall Street may open weaker on Friday.

Mostly upbeat results from Facebook FB.O, Google-parent Alphabet and Amazon, along with Microsoft’s MSFT.O strong report earlier this week, show how the largest U.S. companies have expanded their businesses and outperformed smaller rivals this year as the pandemic accelerates trends toward online shopping, video streaming and other technologies.

Alphabet and Facebook both reported strong rises in advertising sales and some caution about the future. Facebook, which often is conservative with forecasts, said

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