Wall Street’s major stock indexes closed mixed Tuesday, as more big companies delivered their financial results for the last three months of 2022 amid lingering concerns about a potential recession. The S&P 500 slipped less than 0.1 percent, its second loss in three trading days. The Dow Jones Industrial Average rose 0.3 percent and the…
Pilots Fail to Cash in on Air Traffic Revival: Global Survey
A global rebound in air travel has brought pilots back to work after a pandemic-induced slump, but many men and women in the cockpit have concerns over salary, a survey on Thursday said. More than half of pilots have not had a salary increase for five years, according to the global survey by aviation industry…
Wall Street Ends Higher as Company Earnings Season Kicks Off
NEW YORK—Stocks closed higher on Wall Street Friday to give the S&P 500 its best week in two months as earnings reporting season gets underway and CEOs begin to show how well or poorly they’re navigating high inflation and a slowing economy. The year has begun on Wall Street with optimism that cooling inflation trends…
Volkswagen Says Supply Jams Here to Stay as Earnings Stagnate
BERLIN—Volkswagen said supply chain troubles were the new norm as it reported stagnated earnings in the third quarter, but the carmaker still expects growth in the autos market next year as some bottlenecks look likely to ease. The carmaker lowered its expectations for deliveries this year to be on par with 2021, down from a…
Exxon Shares Surge to Record High on Strong Earnings Outlook
HOUSTON—Exxon Mobil Corp. shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer’s cash flow and earnings outlook. Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy…
Wells Fargo Profit Falls on Sales Scandal Costs, Higher Reserves
October 14, 2022
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Wells Fargo & Co. on Friday reported a 31 percent decline in third-quarter profit as the bank racked up costs related to a fake accounts scandal and boosted its loan loss reserves in preparation for a potential slowdown. The bank posted $2 billion in operating losses related to litigation, customer remediation, and regulatory matters associated…
UnitedHealth Expects Strong 2023 Earnings as COVID-19 Costs Ease
UnitedHealth Group Inc. expects to meet Wall Street’s loftier expectations for 2023 profit after the health insurer raised its annual profit forecast for the third time on Friday, helped by lower COVID-19 costs. An industry bellwether and the first health insurer to report third-quarter earnings set a positive tone with its 2022 forecast raise and…
Why 3 Pepsi Analysts Are Raising Price Targets After Q3 Earnings
PepsiCo, Inc. reported third-quarter results Wednesday that were ahead of expectations and raised its outlook for the full year. The company’s sales grew 8.8 percent year-over-year to $21.97 billion, topping the consensus estimate of $20.81 billion, while core earnings grew 10.05 percent to $1.97 per share, exceeding expectations of $1.84 per share. Here’s what the…
What Micron Investors Need to Know About Q4 Results: Earnings Beat, Revenue Miss, Weak Guidance
Micron Technology Inc. reported its fiscal fourth-quarter results Thursday after the bell. Here’s a rundown of the report. What Happened Micron reported fourth-quarter revenue of $6.64 billion, which missed average analyst estimates of $6.68 billion, according to Benzinga Pro. The company’s top-line results were down from $8.64 billion year-over-year. Micron reported quarterly adjusted earnings of…
Gazprom Says Group’s First Half Core Earnings More Than Doubled to $53 Billion
MOSCOW—Russian gas giant Gazprom Group’s earnings before interest, taxes, depreciation, and amortization more than doubled in the first six months of the year to 3.05 trillion rubles ($52.54 billion), the company said on Tuesday. It also said its average exporting gas price rose more than 3.5 times in the same period of this year. Gazprom…
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