EBay Inc. on Wednesday forecast current-quarter revenue above Wall Street projections after beating March-quarter earnings estimates, as it benefits from its strategy of focusing on product categories including sneakers and watches. A selective push from the ecommerce firm also on items like collectibles and refurbished products is helping it drive sales at a time when…
eBay Forecasts Upbeat Revenue as Sneakers, Refurbished Items Drive Growth
Tesla Raises 2023 Spending Forecast as It Races to Ramp up Output
Tesla Inc. raised its capital expenditure forecast for 2023 on Monday as the automaker ramps up output at its factories to take advantage of the rising interest in electric vehicles. The company, led by Elon Musk, said in a filing that it expects to spend between $7 billion and $9 billion this year, higher than…
The IMF’s Asia Forecast Misses a Lot
March 6, 2023
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Commentary New projections on Asian growth from the International Monetary Fund (IMF) paint a bright picture—too bright, in fact. The organization relies on the positive effects of China’s reopening to forecast not only rapid real growth for China but also for other Asian economies, including India, Vietnam, Bangladesh, and Mongolia. Though there can be little…
Beyond Meat Beats Q4 Forecasts Despite Flagging Sales
Beyond Meat on Thursday reported better-than-expected fourth quarter sales despite flagging consumer demand and lower prices. The plant-based meat maker said its revenue fell 21 percent to $80 million in the October-December period. Still, that beat Wall Street’s expectations. Analysts polled by FactSet were forecasting revenue of $75.8 million. Beyond Meat’s shares jumped 14 percent in…
Ryanair Hikes Full Year Profit Forecast After Strong Christmas Season
DUBLIN—Ryanair hiked its forecast for after-tax profit by up to 325 million euros on Wednesday, citing recent pent-up travel demand while warning that COVID-19 and the war in Ukraine could still affect the outcome. Europe’s largest airline by passenger numbers saw profit for the year to end-March at between 1.325 billion euros and 1.425 billion…
Storms Could Spawn Major Tornadoes, Floods in Several States
JACKSON, Miss.—Forecasters warned of the potential for strong tornadoes that could stay on the ground for long distances in parts of the South on Tuesday, as well as flooding rains and hail the size of tennis balls. More than 25 million people could be at risk as the storm system moves from east Texas to…
Storms Cause Major Tornadoes, Flooding Around the South
JACKSON, Miss.—Residents in several towns across Louisiana and Mississippi took cover as tornado sirens blared late Tuesday, and forecasters warned of the threat of strong twisters capable of tracking long distances on the ground as a severe weather outbreak erupted in the Deep South. There were no immediate reports of severe damage or injuries as…
OPEC Cuts Oil Demand Growth Forecast Again as Economic Challenges Mount
November 14, 2022
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Business & Marketseconomic policieseconomyenergyEuropeforecastGold and CommoditiesgrowthInternationalMarketsOilOPECWorld
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LONDON—OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and further trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. Oil demand in 2022 will increase by 2.55 million barrels per day (bpd), or 2.6 percent, the Organization of the…
Barclays Beats Forecast on Trading Boom, but Bad Loan Charges Rise
LONDON—Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges. The British bank made a profit before tax of 2 billion pounds ($2.3 billion) in July–September, up from 1.9 billion a…
Mercedes-Benz Lifts Profit Forecast as Luxury Cars Boom
BERLIN—Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15 percent this year, compared with a previous forecast of 5 percent–15 percent…
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