(Bloomberg) — Tesla Inc. delivered fewer vehicles than analysts expected last quarter, missing estimates despite taking the unusual step of offering hefty incentives in its two biggest markets. The company handed over 405,278 vehicles to customers in the last three months, short of the 420,760 average estimate compiled by Bloomberg. While the total was a […]
Read More(Bloomberg) — Walt Disney Co. fell on Monday, with the media company extending a lengthy selloff that took the stock to a more than two-year low. Its shares fell 4.8% to $85.78, ending at their lowest since March 2020 after a fourth day of losses. The slump came after a somewhat disappointing opening weekend for […]
Read More(Bloomberg) — US equities are set for their worst year since the global financial crisis, and, according to Morgan Stanley strategist Michael Wilson, corporate profits are about to meet the same fate. A looming earnings recession “by itself could be similar to what transpired in 2008/2009,” said Wilson. That could spark a new stock-market low […]
Read More(Bloomberg) — Goldman Sachs Group Inc. lowered earnings estimates for the S&P 500 Index for each year till 2024, saying margins contraction in the third-quarter signals more pain ahead. “We believe S&P 500 margins have inflected downwards and lower our estimates to incorporate greater margin contraction,” strategists including David J Kostin wrote in a note […]
Read More(Bloomberg) — Tesla Inc. was one of the biggest laggards in the S&P 500 Index on Monday, and options traders are betting the stock could drop further before the weekend. A put contract with a Friday expiration and a strike price of $200 was the most-traded contract for Tesla on Monday and among the 15-most […]
Read More(Bloomberg) — Investors expect this earnings season to pummel stocks further and will watch Apple Inc. in particular as a bellwether of global economic conditions. More than 60% of the 724 respondents to the latest MLIV Pulse survey say this earnings season will push the S&P 500 Index lower. That means no end in sight […]
Read More(Bloomberg) — Stock markets may have become too pessimistic about corporate earnings despite the gloomy outlook for the global economy, according to Sanford C. Bernstein strategists. “While the probability of an outright recession has likely increased in recent days as it has become apparent that the Federal Reserve needs to act more aggressively to tackle […]
Read More(Bloomberg) — Weakening corporate profit forecasts may provide the latest headwind to US stocks, which are likely to fall further before bottoming during the second-quarter earnings season, according to Morgan Stanley strategists. “In the absence of an obvious shock like a recession, companies are slow to guide down,” strategists led by Michael Wilson wrote in […]
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