(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) — Tesla Inc. reported third-quarter sales that fell short of Wall Street estimates, citing the US dollar’s growing strength, along with production and delivery bottlenecks. Revenue rose to $21.5 billion, the company said in a shareholder letter Wednesday, compared with analysts’ projections of $22.1 billion. Profit excluding some items rose to $1.05 a share, […]
Read More(Bloomberg) — After losing more than a million customers in the first half of 2022, Netflix Inc. has a message for investors: It could have been worse. The leader in paid streaming TV lost 970,000 subscribers in the second quarter, according to a statement Tuesday. That was less than half what Wall Street feared, thanks […]
Read More(Bloomberg) — A looming recession, runaway inflation, an energy crisis in Europe and a euro that’s sunk to near parity with the dollar: corporate earnings worldwide face a laundry list of challenges this season that could create another reason to dump stocks. After a tumultuous first half for global equities, with $18 trillion in value […]
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 […]
Read More(Bloomberg) — Shopify Inc.’s president appealed to investors to focus on the company’s growing customer base as the stock dropped again Friday to a fresh two-year low. The Canadian firm’s shares have plunged 21% since it disclosed first-quarter profit on Thursday morning that fell far short of analysts’ estimates. Shopify is navigating a “rebalancing” in […]
Read More(Bloomberg) — JPMorgan Chase & Co. strategists expect Corporate America to easily trounce Wall Street’s earnings forecasts. Consensus earnings estimates for the S&P 500 are “overly pessimistic” for the first quarter and companies in the index are poised to deliver a surprise of 4% to 5% on “better-than-feared margins,” according to a team of JPMorgan […]
Read More(Bloomberg) — The positive effects from inflation on earnings growth for U.S. firms have peaked as rising costs trim their margins and price pressures caused by the Ukraine war hit consumers, according to Morgan Stanley strategists. “Margin expectations look overly optimistic for the balance of ‘22 given the myriad of cost pressures companies face,” the […]
Read MoreTraders are tuning into Disney after a comeback quarter for the entertainment beast. Shares surged 8% in pre-market trading Thursday to $158.62 as the company smashed analyst sales estimates by more than $1 billion and earnings by 45 cents. The company saw a major uptick in operating profits at its parks divisions as consumers returned […]
Read More(Bloomberg) — Amazon.com Inc. reported a a strong holiday quarter, calming Wall Street’s concerns that the company was headed for a slowdown. Profit beat expectations, helped by the cloud-computing division, and investors cheered a price hike for the company’s Prime subscription service. The shares jumped about 18% in extended trading. Fourth-quarter sales increased 9.4% to […]
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