Tag Archives: sales

Stocks fell on Tuesday, with the major indexes pulling back from record levels amid a mixed batch of earnings results from major retailers. A closely watched monthly report on retail sales also missed estimates, pointing to a bigger-than-expected deceleration in consumer spending. The S&P 500 declined after closing at an all-time high by the end of Monday’s session. That marked the index’s fifth consecutive record close. The Dow and Nasdaq also traded lower. Shares of Dow component Walmart ( Source link

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell more than expected in July as shortages weighed on purchases of motor vehicles, suggesting a moderation in economic growth early in the third quarter. The weak sales reported by the Commerce Department on Tuesday also reflected a plunge in online purchases, payback after Amazon pulled forward its Prime Day to June from July. With the school year getting into full swing later in August and most education districts reverting to… Source link

V-12 powered sports cars and rare Ferraris, each worth multiple millions of dollars, lead the line-up at this year’s annual Gooding & Company Pebble Beach auction.  “Ferrari has been in such strong demand for such a long time because they build absolutely fantastic cars,” President and CEO David Gooding told Yahoo Finance Live. “There’s everything about them that is magical.”  Gooding is the official auction house of the iconic Pebble Beach Concours d’Elegance which concludes on Aug. 15…. Source link

(Bloomberg) — Robinhood Markets Inc.’s wild week took another turn on Friday morning when it said that some early investors who filed to sell millions of shares won’t be able to do so until they get clearance from the U.S. Securities and Exchange Commission. Shares of the company climbed as much as 17% at the open in New York before parting some of the gains to trade at $50.33 in late morining in New York. The trading platform said no sales can be made off of the Thursday filing until an… Source link

An increase in mobility as more people get vaccinated for COVID-19 hasn’t changed much for the trajectory of Papa John’s (PZZA) business.  The pizza joint clobbered Wall Street sales and profit forecasts on Thursday, powered by demand for new Epic Stuffed Crust pizza and Papadia sandwiches. Here is how Papa John’s performed compared to Wall Street analyst forecasts for the second quarter: Adjusted Diluted EPS: $0.93 vs. $0.73 Net Sales: $515 million vs. $494.4 million Systemwide North America… Source link

(Bloomberg) — Alibaba Group Holding Ltd.’s revenue missed estimates for the first time in more than two years, underscoring how Beijing’s months-long campaign against the internet sector is taking a toll. Growth slowed in most of Alibaba’s major divisions from cloud to e-commerce, underlining fears that the mounting list of new government regulations is constraining expansion and increasing companies’ burdens. In a sign of the times, Chief Executive Officer Daniel Zhang on Tuesday… Source link

(Bloomberg) — AbbVie Inc. beat expectations for second-quarter profit and revenue and raised its adjusted profit guidance for the year as sales rebounded from last year’s pandemic disruptions, helped by the purchase of Allergan. Adjusted earnings for the year will be $12.52 to $12.62 a share, AbbVie said, up from a previous range that topped out at $12.57.Revenue was $14 billion for the quarter, a 34% increase from the year-earlier period that beat Wall Street’s projection of $13.65… Source link

Facebook (FB) reported second-quarter earnings after market close on Wednesday, with the recovery across the internet advertising industry helping lift the social media company’s results beyond Wall Street’s expectations.  However, Facebook flagged an expected slowdown in revenue growth, and said that decreased ad targeting abilities following an Apple iOS update would negatively impact results going forward. Shares slid more than 3.5% in late trading.  Here were the main metrics from… Source link

Apple’s iPhone 12 is expected to continue to dominate in Q3. (Image: Apple) Apple (AAPL) is set to report its Q3 2021 earnings after the closing bell on Tuesday, and analysts predict strong iPhone sales performance. But a predicted slowdown in future quarters for App Store revenue, thanks to vaccine-related reopenings and tough comparisons to 2020, could send guidance for the coming quarters lower. Here’s what Wall Street is expecting from Apple, as compiled by Bloomberg, versus how it… Source link

By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes tumbled to a 14-month low in June and sales in the prior month were weaker than initially estimated, the latest signs that expensive lumber and shortages of other building materials were hurting the housing market. The third straight monthly decline in sales reported by the Commerce Department on Monday followed news last week that permits for future homebuilding dropped to a nine-month low in June while home… Source link