China extends EV tax break; Li Auto shares fall after delivery outlook cut

Li Auto warned that “supply chain constraint” would mean the company will deliver fewer cars than expected in the third quarter. Meanwhile, China has extended a tax exemption for new energy vehicles until the end of 2023 as it looks to spur growth for electric cars. CFOTO | Future Publishing | Getty Images Shares of […]

Mixed performance with progress and delays

The company’s Electron rocket carrying the CAPSTONE mission lifts off from New Zealand on June 28, 2022. Rocket Lab The second quarter was a mixed bag for space companies, with some firms posting steady progress while others faced setbacks. Most space stocks, many of which went public last year through SPAC deals, are struggling despite […]

Premium products take priority as companies battle cost-of-living

“As we create more premium beverages, it becomes more difficult for customers to replicate it at home and we think that helps with the concept of trade down,” Starbucks CFO Rachel Ruggeri told CNBC’s “Squawk Box” on Aug. 3. Gary Hershorn / Contributor / Getty Images Personalized coffees, “prestige” skincare and “elevated” sauces and spreads […]

Rivian (RIVN) earnings Q2 2022

Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California.  Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street expected. But it trimmed its […]

Sweetgreen stock plummets after salad chain cuts forecast, announces layoffs

A worker wears a Sweetgreen Inc. hat while preparing food inside the company’s restaurant in Boston, Massachusetts. Adam Glanzman | Bloomberg | Getty Images Shares of Sweetgreen plunged about 20% in extended trading Tuesday after the salad chain lowered its 2022 forecast. The restaurant company also said it laid off 5% of its support center […]

SoftBank Vision Fund posts a $21.6 billion quarterly loss

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted one of its biggest losses at its Vision Fund investment […]

SocGen earnings Q2 2022

French bank Societe Generale’s headquarters in Paris. Chesnot | Getty Images News | Getty Images Societe Generale on Wednesday reported better-than-expected earnings despite taking a 3.3 billion euro ($3.36 billion) hit from exiting its Russian operations. The French lender saw every unit grow in the second quarter, which helped offset the impact of its departure […]

Starbucks (SBUX) Q3 2022 earnings

Starbucks is expected to report its fiscal third-quarter earnings after the bell Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 75 cents expected Revenue: $8.11 billion expected The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in China, the company’s second-largest […]

Oil major BP earnings Q2 2022

A BP gas station in Madrid, Spain. Sopa Images | Lightrocket | Getty Images LONDON — U.K. oil giant BP on Tuesday reported bumper second-quarter profits, benefitting from a surge in commodity prices. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion. That compared […]

Enphase (ENPH) earnings Q2 2022: Huge growth in Europe

Workers install solar panels on the roofs of homes under construction south of Corona, California. The California Energy Commission in May 2018 adopted new energy building standards requiring solar panels for virtually all new homes built in the state starting in 2020. MediaNews Group/Inland Valley Daily Bulletin via Getty Images | Digital First Media | […]

General Motors (GM) earnings Q2 2022

GM CEO Mary Barra talks with media prior to the start of the 2017 General Motors Company Annual Meeting of Stockholders Tuesday, June 6, 2017 at GM Global Headquarters in Detroit, Michigan. Photo by John F. Martin for GM General Motors reported second-quarter earnings that fell short of Wall Street’s estimates after the company was […]

UBS misses second-quarter earnings expectations; CEO cites ‘uncertain times’

UBS on Tuesday missed expectations for the second quarter of 2022 as its wealth management and investment banking divisions saw falling client activity on the back of the global market downturn. The Swiss bank posted a net profit attributable to shareholders of $2.108 billion, below analyst expectations aggregated by the company of $2.403 billion. It […]

Amazon sinks after Walmart lowers profit outlook on inflation concerns

The front desk of the Amazon office is pictured in New York, May 1, 2019. Carlo Allegri | Reuters Shares of Amazon fell more than 4% in extended trading on Monday after Walmart said it was lowering its quarterly and full-year profit guidance. Walmart announced after the bell on Monday that it now expects adjusted […]

Ryanair unsure of return to pre-Covid profit this year, tops Q1 estimates

A Ryanair aircraft Boeing 737-800 prepares to take off at Krakow Airport. Omar Marques | Getty Images News | Getty Images Ryanair on Monday said a return to pre-Covid levels of profitability this year was not certain even as the carrier topped first-quarter profit estimates. The after-tax profit of 170 million euros ($174 million) for […]

Markets face crucial summer week, with Fed, earnings and economic data

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest U.S. companies — Microsoft and Apple — […]

Stock winners and losers as people pinch pennies

The second quarter has shown continued earnings growth for corporate America, but there are signs that inflation and a slowing economy are starting to weigh on the U.S. consumer. Some corporate executives are highlighting growing weakness among lower income consumers, even while many companies say demand appears strong overall. That weakness is likely to spread if […]

Twitter (TWTR) earnings Q2 2022

Musk would have been appointed to Twitter’s board on Saturday, but the world’s richest man informed the company on the day that he would not, in fact, be taking the board seat. Andrew Burton | Getty Images News | Getty Images Twitter reported earnings for the second quarter on Friday that missed analyst estimates on […]

Snap, Meta Platforms, Mattel and more

People walk past Snap Inc. Snapchat signage displayed in downtown Los Angeles, California on October 2, 2021. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines after the bell:  Snap – Shares of the Snapchat parent company plummeted more than 26% in extended trading after reporting a miss on the […]

United Airlines (UAL) 2Q 2022 earnings

An aircraft takes off from O’Hare International Airport on January 18, 2022 in Chicago, Illinois. Scott Olson | Getty Images United Airlines on Wednesday notched a key profit milestone in its pandemic recovery, but said it will scale back its growth plans through 2023. United reported its first quarterly profit — $329 million — since […]

Baker Hughes, Biogen, Netflix and more

Check out the companies making headlines before the bell: Baker Hughes (BKR) – The oilfield services company reported second-quarter adjusted earnings of 11 cents per share, just half of what analysts had forecast. Revenue also fell below estimates, with Baker Hughes citing various challenges including component shortages and supply chain inflation. Baker Hughes tumbled 6% […]

Goldman Sachs, Coinbase and more

Take a look at some of the biggest movers in the premarket: Goldman Sachs (GS) – Goldman gained 2.6% in premarket trading, following upbeat profit and revenue. Second-quarter earnings came in at $7.73 per share, compared to a consensus estimate of $6.58 a share. Goldman’s profit dropped from a year ago, however, as the pace […]

GSK spins off Haleon in biggest European listing for a decade

View of the headquarters of the British pharmaceutical company GlaxoSmithKline in west London. Ben Stansall | AFP | Getty Images British drugmaker GSK spun off its consumer health business on Monday in the biggest listing in Europe for more than a decade. The new company, Haleon, becomes the world’s biggest standalone consumer health business, home to […]

Earnings could be an even bigger catalyst for stocks after the market’s wild ride on rate fears

Traders on the floor of the NYSE, July 12, 2022. Source: NYSE Investors are likely to switch their focus to earnings season, after the market’s wild ride on rising and falling expectations for Federal Reserve rate hikes. Stocks were volatile in the past week. The three major indexes posted sharp gains Friday, after worries the […]

These companies generally beat earnings estimates and trade higher

A group of companies scheduled to report quarterly results in the coming weeks tend to beat analyst estimates and see their stocks trade higher, a recent analysis showed. This earnings season, investors are watching how companies have fared given the highest inflation in roughly four decades, which may be starting to discourage consumer spending. In […]

Recession fears flare and jobs report looms as markets head to Q3

Traders work on the floor of the New York Stock Exchange. NYSE Investors are greeting the third quarter with greater trepidation about a recession, and that makes next Friday’s June jobs report a potentially bigger catalyst for markets than it might otherwise have been. The jobs report and Wednesday’s release of minutes from the Federal […]

Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

1. Macroeconomic pressure During the quarter, the U.S. Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the U.S. and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, […]

Walgreens, Constellation Brands, RH and others

Check out the companies making headlines before the bell: Walgreens (WBA) – The drug store operator earned an adjusted 96 cents per share for its latest quarter, 4 cents above estimates, with revenue also beating analyst forecasts. Walgreens also reaffirmed its full-year guidance, forecasting low-single-digit adjusted earnings growth. The stock fell 2.7% in premarket action. […]

Stocks could build on gains in the week ahead as investors await Friday’s jobs report

Stocks could carry the momentum of this latest rally into next week as investors look ahead to Friday’s jobs report. All three major indice scored big gains in the past week, each rising higher than 6%. Both the S&P 500 and Nasdaq Composite broke a seven-week losing streak, while it had been eight weeks of […]

Jefferies upgrades Ulta to buy, says strong earnings are the ‘all clear’ for a recovery

A strong quarterly report is the start of a solid recovery for Ulta Beaty , according to investment firm Jefferies. On Thursday, Ulta blew away estimates for the first quarter, generating $6.30 in adjusted earnings per share on $2.35 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.46 in earnings per share on $2.12 […]

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