Tag Archives: earnings

U.S. stocks fell on Tuesday to cap a back-and-forth session as investors gear up for a big inflation report Wednesday and the start of third-quarter earnings season. The S&P 500 (^GSPC) fell 0.6% after failing to retain a gains from an intraday rebound, and the Nasdaq Composite (^IXIC) tumbled 1.1% to a fresh two-year low. The Dow Jones Industrial Average was an outlier — ending 0.1% in the green. Meanwhile, the benchmark 10-year Treasury note came close again to the key 4% level. Investors… Source link

The full ramifications of U.S. dollar strength that has wreaked havoc on the top and bottom lines of large companies such as Nike (NKE) and FedEx (FDX) in the third quarter likely won’t be felt for a while, warns one veteran currency strategist. “What you see immediately today will take some time to flow through earnings,” Joseph Lewis, head of corporate hedging and FX solutions at Jefferies, said on Yahoo Finance Live (video above). “I think what you will expect is that if the dollar… Source link

An economic slowdown that triggered a tsunami of unsold inventory at various companies may have proved lethal for corporate America’s third-quarter earnings and, soon, forward guidance. At least, that’s what the strategy team at Morgan Stanley warned in a new note out on Monday. “Our U.S. Equity Strategy team sees inventory as a key risk to earnings — oversupply and lagging demand are likely to weigh on margins,” the note stated. “The problem with inventory is twofold — supply chain… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, September 30, 2022 Today’s newsletter is by Julie Hyman, anchor and correspondent at Yahoo Finance. Follow Julie on Twitter @juleshyman. It’s the end of the third quarter, and it’s been a bumpy ride for investors. After a two-month, 17% rally for the S&P 500, the index headed downslope, wiping out its June lows this week. The… Source link

Stocks tumbled Friday morning, deepening a sell-off across U.S. equity markets that placed all three major averages on pace for a weekly loss. The moves came as traders weighed an ominous warning from FedEx about the global economy. The S&P 500 slid 1.2% at the start of trading as the Dow Jones Industrial Average shed 350 points, or 1.1%. The technology-heavy Nasdaq Composite led losses, plunging 1.6%. FedEx (FDX) withdrew its full-year guidance late Thursday and delivered messaging around its… Source link

If Walmart’s second quarter sales trends in electronics are any indication, Best Buy could announce a dud of a quarter and outlook in a few short weeks. In Walmart’s earnings release on Tuesday, the world’s largest retailer cited “softness” in electronics at its Walmart U.S. division. And at Sam’s Club U.S., sales fell by a high-single digit percentage in the tech, office, and entertainment category. Walmart CFO John David Rainey struck a cautiously optimistic tone on the state of the U.S…. Source link

Walmart’s business looks to have stabilized after surging inflation for food and gas weighed on the company’s guidance a few weeks ago. The world’s largest retailer revised its full year guidance for profits to drop 9% to 11% from a prior range for a 11% to 13% decline. Walmart stock popped 4% in pre-market trading Tuesday following a 15 cents a share beat versus Wall Street profit estimates. Sales came in better than expected as well. Yahoo Finance caught up with Walmart’s well-regarded CFO Source link

Warner Bros. Discovery (WBD) has a lot of questions to answer ahead of its earnings report on Thursday. The three-month-old streaming conglomerate, which is set to report its first quarterly earnings since the $43 billion merger, plans to lay off 70% of its development business, according to The Wrap, which cited “multiple insiders.” The news has fueled speculation when it comes to the future of HBO Max with sources telling The Wrap that CEO David Zaslav, known for his cost-cutting leadership… Source link

Stocks finished lower on Tuesday following a volatile trading session that saw the Nasdaq gain over 1% at its highs and the Dow ultimately lose more than 1%. When the closing bell rang on Tuesday, the S&P 500 was down 0.66%, the Dow off 1.22%, and the Nasdaq down 0.16%. Stocks opened Tuesday’s session lower with traders citing rising U.S.-China tensions amid House Speaker Nancy Pelosi’s trip to Taiwan as the source of market stress. Stocks around the globe were lower overnight on Tuesday ahead… Source link

“Call of Duty” maker Activision Blizzard (ATVI) reported its Q2 earnings after the closing bell Monday, beating analysts’ expectations on revenue, but falling short on the bottom line as the industry contends with a slowdown from its pandemic-era highs. Here are the most important numbers from the announcement versus what Wall Street was anticipating from the gaming giant, as compiled by Bloomberg. Shares of Activision Blizzard were largely flat following the report. While Activision… Source link