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Even after Lyft beat, Wall Street pummels former unicorns

SAN FRANCISCO (Reuters) – Wall Street pummeled shares of companies including Pinterest (PINS.N), Lyft (LYFT.O), Uber Technologies (UBER.N) and SmileDirectClub (SDC.O) on Thursday as investors grew more sour on money-losing former startups that went public this year. Traders work on the floor at the New York Stock Exchange (NYSE) in New York,…

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Stock investors see silver lining in Fed’s rate-cut pause

NEW YORK (Reuters) – The U.S. Federal Reserve may be done cutting interest rates but stock investors are not done buying. FILE PHOTO: Traders work, as a screen shows Federal Reserve Chairman Jerome Powell’s news conference after the U.S. Federal Reserve interest rates announcement, on the floor of the New York Stock…

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Facebook beats on profit as cost growth slows; shares rise

(Reuters) – Facebook Inc (FB.O) reported better-than-expected quarterly revenue on Wednesday and a rise in profit as growth in expenses slowed from a year earlier and the number of users ticked higher, assuaging investor fears of fallout from fierce scrutiny by regulators and lawmakers. Shares rose nearly 2% after hours to $191.49.…

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U.S. Fed cuts interest rates, signals it is on hold

WASHINGTON (Reuters) – The Federal Reserve on Wednesday cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the worse. “We believe that monetary…

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