U.S. holiday sales could rise over 10 percent this year, a trade body said on Wednesday, as major consumer goods makers and retailers work to prevent supply chain disruptions from leaving shelves empty of in-demand toys and games. The National Retail Federation (NRF) forecast sales to increase between 8.5 percent and 10.5 percent, to between…
Twitter Stock Sinks After Q3 Earnings: 5 Analysts React to Impact of iOS Privacy Changes
Twitter Inc. shares tumbled 9.6 percent on Wednesday after the company disappointed the market with lackluster sales guidance. On Tuesday, Twitter reported third-quarter adjusted earnings per share (EPS) of 18 cents, beating consensus analyst estimates of 15 cents. Revenue of $1.284 billion fell just short of analyst expectations of $1.285 billion. Revenue was up 37 percent…
Microsoft’s Cloud-Powered Q1 Results Prompt Analysts to Lift Price Target
Microsoft Corporation shares rallied out of the gate Wednesday following the release of its quarterly results. Microsoft Analysts Stifel analyst Brad Reback maintained a Buy rating and increased the price target from $325 to $380. Bank of America (BofA) Securities Brad Sills reiterated a Buy rating and hiked the price target from $340 to $365. Wedbush…
Microsoft Nearly Overtakes Apple as Most Valuable Company
A surge in Microsoft Corp’s shares nearly unseated Apple Inc. as the world’s most valuable company on Wednesday, a day before the iPhone maker reports its quarterly results. Fueled by strong quarterly growth in its Azure cloud-computing business, Microsoft’s shares jumped 4.2 percent to end at a record $323.17, elevating the software maker’s market capitalization…
Inflation Tests Central Banks’ Resolve, Credibility
Central banks are under pressure to fight mounting inflation that’s looking less transitory than what they initially suggested.
Puma Raises Outlook Despite Supply Challenges
German sportswear company Puma increased its 2021 sales outlook on Wednesday even as it highlighted supply-chain pressures from a coronavirus lockdown in Vietnam, port congestion, and container shortages. Emer McCarthy reports. German sportswear giant Puma increased its 2021 sales outlook on Wednesday (Oct. 27) despite lingering supply-chain pressures. Factories in Vietnam, a major supplier to…
Robinhood Shares Drop Below IPO Price in After-Market Trading on Crypto Slowdown
October 27, 2021
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Robinhood Markets Inc.’s shares fell below their initial public offering price in after-hours trading on Tuesday after the retail broker reported softer revenue than expected for the third quarter as trading levels declined for cryptocurrencies like dogecoin. Shares of Robinhood were down 8.77 percent at $36.10 following the release of the results, below the $38…
Visa Beats Profit Estimates on Travel, Online Spending Boom
October 27, 2021
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Visa Inc.’s quarterly profit topped Wall Street expectations on Tuesday, as a recovery in travel and an improving global economic picture drove volume growth at the world’s largest payment processor. But cross-border travel was still well below pre-pandemic levels, Visa said, with regions such as the Asia Pacific remaining closed. “Our business has been on…
US Trade Deficit Widens in September; Inventories Mixed
WASHINGTON—The U.S. trade deficit in goods surged in September as exports tumbled, suggesting trade probably weighed on economic growth again in the third quarter. The goods trade deficit increased 9.2 percent to $96.3 billion, the Commerce Department said on Wednesday. Goods exports dropped 4.7 percent, while imports gained 0.5 percent. The report, which was published…
Boeing Posts Quarterly Loss on 787, Starliner Problems
Boeing Co. reported a quarterly loss on Wednesday as charges and expenses on its problem-plagued 787 Dreamliner and Starliner spacecraft programs dampened a ramp-up in 737 MAX deliveries amid rebounding air travel. The 737 MAX and 787 jetliners are integral to Boeing’s ability to recoup billions of dollars in lost sales from the pandemic and…
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