Amazon (NASDAQ: AMZN) shareholders will vote on carrying out a 20-for-1 stock split at its annual meeting later this month. Splitting the stock into smaller, easier-to-purchase shares could make investing in the company significantly more attractive to a wider pool of investors and work to increase trading volume. Amazon stock has been hit hard following the company's recent first-quarter earnings release. Read More...
Reuters
Brazil’s Petrobras posts $9 billion profit as Bolsonaro rails against company
Brazil’s Petrobras posted a first-quarter net income that beat forecasts on Thursday, just minutes after Brazilian President Jair Bolsonaro railed against the state-run oil company’s profitability, saying its executives had no sympathy for ordinary people. In a securities filing, Petroleo Brasileiro SA, as the company is formally known, posted a quarterly net income of 44.56 billion reais ($8.86 billion), above a Refinitiv consensus estimate of 43.5 billion reais and almost 40 times greater than the same quarter last year. In comments accompanying the results, Petrobras attributed the profit jump to factors including high Brent crude oil prices, wider margins in its diesel business and reduced liquefied natural gas imports.
