Tag Archives: CEO

Novavax (NVAX) missed Wall Street expectations Monday after its second quarter earnings showed softer-than-expected demand in global vaccine sales, forcing the company to slash its 2022 outlook by 50% to $2 billion. While at least $400 million in revenue has come in since July 1, the company has not fulfilled orders for low- and middle-income countries (LMICs) through the global COVAX program and anticipates no further orders from the U.S. this year, according to company executives Monday. But… Source link

Google recently announced the financial results for the quarter ended June 30, 2022. Sundar Pichai, CEO of Alphabet and Google, commented on the “solid performance” in the second quarter, with revenues of $69.7 billion, up 13% versus last year.  While revenues show double-digit growth, they are down from last year’s 57%. Earnings per share (EPS) are also down, at $1.21 vs $1.28 expected. EBIT is showing a flattening due to a 21% expansion in headcount.  This is where Pichai and the Google… Source link

JetBlue CEO Robin Hayes sees no loss in altitude for consumer demand headed into the back half of the year, despite swirling recession fears and disappointing financial results from the airline. “Demand remains extremely strong,” Hayes said on Yahoo Finance Live Tuesday. “We continue to see extremely strong demand [into the fourth quarter.]” The bullish take from Hayes comes as JetBlue shares fell 6% on Tuesday’s session after higher costs for labor and fuel weighed on second quarter… Source link

MicroStrategy (MSTR) announced on Tuesday its founder and CEO Michael Saylor will step down from the top job and take a new post as executive chairman, focused on the company’s bitcoin strategy. Phong Le, the company’s president, will take over in the CEO role. MicroStrategy reported quarterly results that were light of Wall Street estimates on Tuesday, with revenue coming at $122.1 million against expectations for $126 million. Losses in the quarter totaled $918.1 million, with $917.8 million… Source link

Extreme weather events, from droughts to floods, have inflated global food prices beyond the effects of the Russia-Ukraine war — and climate change will only continue to stress crop yields. “The climate is the No. 1 reason why food prices go up,” Sal Gilbertie, president and CEO of Teucrium Funds (CORN), told Yahoo Finance Live (video above). “It happens all the time. If you look at the last six or seven times that global grains have risen, all but one — and that would be the Ukraine war… Source link

More people are toasting with tequila, according to alcohol-delivery company Drizly’s customer base. “Tequila is the big winner here and the type of alcohol people are drinking at home,” Drizly CEO Corey Rellas told Yahoo Finance (video above) about COVID-19 era trends that have stuck around. At-home cocktail making “reset” with COVID, Rellas said, “as more and more people started to embrace cocktail culture, wanting to try new things at home when [they] didn’t have access to the bar.” The… Source link

The news on Thursday that gross domestic product (GDP) contracted for two straight quarters intensified fears the U.S. is entering a recession. Earlier this week, former Home Depot CEO Bob Nardelli suggested the country has indeed fallen into a recession — albeit an unusual one. In a wide-ranging interview for Yahoo Finance’s “Influencers with Andy Serwer,” Nardelli contended that the U.S. is still experiencing a downturn even though consumer spending has remained relatively high. “I’ve said… Source link

Bed Bath & Beyond has one foot in the grave and may be at risk of being pulled six feet under, one former retail CEO warned. “Bed Bath & Beyond is in a world of hurt because they have burned an enormous amount of available cash, their business has no forward momentum, and now as we all know they have an enormous leadership gap that they will have to fill,” Mark Cohen, Columbia University professor of retail studies and former long-time CEO of Sears Canada, said on Yahoo Finance Live (video… Source link

Vince McMahon is retiring from WWE. (Photo by Michael N. Todaro/Getty Images) (Warning: This story contains allegations of sexual misconduct.) Long-time WWE chairman and CEO Vince McMahon is retiring from the company. McMahon, 77, and the company released statements announcing the retirement Friday. McMahon kept the announcement short on Twitter, merely saying it was “time for me to retire.” In a statement released by the company, McMahon called it a privilege to entertain the fans for so many… Source link

Goldman Sachs chairman and CEO David Solomon thinks it would be wise for investors to pay extra attention to the path of corporate earnings in the weeks ahead. “I do see a little bit more market volatility — but I think the volatility at this point, the market is expecting,” Solomon said on Yahoo Finance Live at the firm’s 10,000 Small Businesses Summit (video above). “I think you’ve got to watch corporate earnings. And up to this point, corporate earnings have hung in reasonably well. But… Source link