Applied Materials Q4 Profit Down

Applied Materials, Inc. (AMAT) reported that its fourth-quarter net income declined to $698 million or $0.75 per share from $757 million or $0.77 per share in the prior year.

Non-GAAP adjusted earnings per share was $0.80 compared to $0.85 last year.

Net sales for the quarter were $3.75 billion compared to $3.76 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.76 per share and revenues of $3.68 billion for the fourth-quarter. Analysts’ estimates typically exclude special items.

Looking ahead for the first quarter of fiscal 2020, the company expects Non-GAAP adjusted earnings per share to be in the range of $0.87 to $0.95, and net sales of about $4.10 billion, plus or minus $150 million.

Wall Street currently is looking for first quarter of fiscal 2020 earnings of $0.74 per share on annual revenues of $3.71 billion.

Here's what happened to the stock market on Thursday

The Dow dipped 1.63 points, or 0.01% to close at 27,781.96. The S&P 500 climbed 0.08% to 3,096.64. The Nasdaq Composite closed 0.04% lower at 8,479.02. Stocks hovered around record levels but lingering trade worries kept sentiment in check.

Trade snag tempers market enthusiasm

Wall Street's enthusiasm has been slightly curbed as U.S.-China trade talks hit a snag recently over agricultural purchases by the Chinese. Sentiment around trade also took a hit after U.S. senators pushed for a vote on a Hong Kong rights bill as protests there escalate. The fact that equities remain around record highs and have not sold off amid the snag is being interpreted as a positive by some investors. However, if China and the U.S. fail to reach even a so-called phase one trade deal, all bets will be off on Wall Street.

Cisco shares drop, Walmart hits record

Cisco Systems dropped 7.33% after the company issued disappointing revenue guidance for the current fiscal quarter. That forecast overshadowed stronger-than-forecast quarterly earnings. Walmart rose as much as 3.6% to a record high of $125.38 on earnings that beat analyst expectations. However, the retailer's stock closed 0.27% lower.

What happens next?

Wall Street will turn its attention to retail sales data and industrial production numbers. Read more here.

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He says Facebook's Libra is the future. Lawmakers aren't so sure

San Francisco (CNN Business)Facebook signed a lease for more than 1.5 million square feet of office space in New York City’s Hudson Yards.

The lease includes 30 floors and three buildings in the luxury commercial and residential development complex, according to a statement released Thursday by Hudson Yards.
The $25 billion complex is located on the west side of Manhattan near the Hudson River and above the rail yards.

Facebook will expand its offices there starting in 2020, John Tenanes, vice president of Facebook’s global facilities and real estate, said in the statement.
“New York’s vibrant communities, strong business economy and diverse talent base first attracted us to the city in 2007,” Tenanes said.

The bulk of the leased space will be in 50 Hudson Yards with additional space in 30 and 55 Hudson Yards.
Among the other tenants in Hudson Yards are WarnerMedia, of which CNN is a part, L’Oreal USA, Guardian Life Insurance Co., Wells Fargo Securities and Equinox. There are also more than 100 shops and restaurants.

The statement did not say how many workers and what functions will be housed in the space.
Facebook did not immediately respond to a request for comment.

17 Ways Black Friday Has Changed Since the 1950s

Changes happen very quickly nowadays. It wasn’t so long ago that cell phones only had the ability to make a call and send a text; now you can even do your holiday shopping on them. But despite drastic lifestyle transformations, some traditions remain strong. Such is the Black Friday madness.

The big shopping day has been around long before it even unofficially became known as “Black Friday.” It has been described for years as the day when the pre-Christmas bonanza begins, but it has changed in several ways to keep up with the times.  

The day after Thanksgiving is one of the busiest shopping days of the year and it has grown to hard-to-believe proportions — going global, too. In 2018, for example, more than 164 million consumers — or about 78% of the U.S. adult population — shopped over the holiday.

In a nutshell, Black Friday has become about getting little to no sleep so you can wait outside malls and megastores to catch the best deals on offer. But consumers have changed their priorities and retailers are adapting. Black Friday is now a week-long event, with new ways to lure shoppers emerging every year. Sometimes it’s hard to keep track and a little planning may be helpful —  here are 30 tips to start planning Thanksgiving right now.

Click here to see 17 ways Black Friday has changed since the 1950s.

How to stay updated on USA TODAY’s impeachment coverage

The impeachment inquiry of President Donald Trump is a major news event, and USA TODAY has wall-to-wall coverage of the live stories, the daily developments and long-term implications. 

This is a fast-moving story, making it a challenge to keep up. With that in mind, we’ve created a few ways for you to stay up to date on impeachment news:

► See all the stories on our impeachment page.

► Follow the topic in our mobile app. At the bottom of the app screen, click on ‘My Topics,’ then add ‘Inquiry into the president’ (and any others of interest). Now, you’ll get a notification (you can customize those too) whenever we publish a story about impeachment.

GET IT NOW: Download the USA TODAY mobile app

► Get a daily recap of all the day’s developments in your inbox with our OnPolitics newsletter. 

► Join our politics Facebook group, where members participate in moderated discussions about the day’s news.