Latest Business News: Internet Companies, Stung by Earnings, Still Look Pricey

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Latest Business News: Internet Companies, Stung by Earnings, Still Look Pricey

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Latest Business News: Internet Companies, Stung by Earnings, Still Look Pricey

by Wochit 1:05 mins

Latest Business News: Internet Companies, Stung by Earnings, Still Look Pricey

by Wochit 1:05 mins

Expedia Inc can send people to destinations around the world, but it can't send investors back in time so they can avoid the stock's massive selloff. The stock's 25 percent fall is its worst in seven years, becoming the latest in what is shaping up as a rough quarter for Internet company earnings. JPMorgan Chase & Co said it was considering a sale or a spin-off of its physical commodities business as regulators increase scrutiny of Wall Street's role in commodities. Starbucks is seeing impressive adoption of mobile payments in its U.S.-based store locations, the company revealed during its quarterly earnings conference call. Mobile payments crossed the 10 percent mark in the U.S. as a percentage of in-store purchases, indicating efforts like the Starbucks mobile app, Apple's Passbook and Square Wallet are popular among users.

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