Reported 29 days ago
Zebra Technologies has raised its fourth-quarter profit forecast, expecting it to surpass Wall Street estimates, owing to rising demand and effective cost controls following restructuring efforts. The company reports a recovery in product demand across its mobile computing, printing, and scanning divisions, particularly for portable devices, with notable growth in large deals as the year progresses. Adjusted profit per share is projected to fall between $3.80 and $4.00, exceeding analysts' expectations.
Source: YAHOO
Reported 29 days ago
JetBlue Airways has projected a steeper-than-anticipated decline in its 2024 revenue due to dampened domestic travel demand linked to the upcoming U.S. elections, resulting in a 14% drop in its share price. The airline forecasts a revenue decline between 4% and 5%, which exceeds analysts' expectations of a 3.6% decrease. Additionally, the impact of Hurricane Milton, rising operating costs, and delays in aircraft deliveries have compounded challenges, despite reporting a smaller-than-expected loss in the third quarter.
Source: YAHOO
Reported 29 days ago
D.R. Horton has announced disappointing forecasts for 2025 revenue and home deliveries due to buyer uncertainty amid fluctuating mortgage rates, leading to an approximately 11% drop in its shares. The company missed fourth-quarter profit and revenue estimates as housing affordability remains a challenge, prompting the builder to increase discounts to boost demand. D.R. Horton anticipates delivering between 90,000 and 92,000 homes, which is below earlier estimates.
Source: YAHOO
Reported 29 days ago
Pfizer Inc. reported a third-quarter adjusted EPS of $1.06, a significant improvement from a loss of 17 cents last year, accompanied by sales of $17.70 billion, marking a 31% year-over-year increase. The growth was mainly attributed to the surge in demand for Paxlovid amid a global COVID-19 wave, contributing $2.7 billion in revenues. The company revised its 2024 revenue forecast to $61-$64 billion, expecting around $10 billion from COVID-related products, while also anticipating operational revenue growth of 9% to 11% compared to 2023.
Source: YAHOO
Reported 29 days ago
Source: INVESTORS
Reported 29 days ago
In a recent episode of Stocks In Translation, Kevin Gordon from Charles Schwab discussed the current investment landscape, emphasizing a strong market breadth and the potential for bonds, given their newfound attractiveness compared to equities. As the S&P 500 shows solid performance this year and with elections approaching, Gordon suggests that bonds now offer competitive income opportunities that many investors haven't seen in a long time, making them a viable option for those seeking stability.
Source: YAHOO
Reported 29 days ago
Nike's vintage Air sneakers have exposed significant flaws in the carbon offset market, as the sulfur hexafluoride previously used in their shoe soles is a potent greenhouse gas. Although Nike replaced this gas and generated nearly 8 million carbon credits, concerns arise over the legitimacy of these credits since they stem from a project that may not represent genuine emissions reductions. The situation raises critical questions about the integrity of carbon markets and their ability to ensure that offset projects genuinely contribute to reducing atmospheric carbon.
Source: YAHOO
Reported 29 days ago
Blackstone Inc. has raised approximately $22 billion for a new direct lending fund aimed at institutional investors, blending features of drawdown and evergreen funds. This new initiative emphasizes large-cap and middle-market lending and complements Blackstone's existing $62 billion Private Credit Fund. The firm's total direct lending platform now exceeds $123 billion, contributing to a broader credit asset management portfolio of $432 billion as of September 30.
Source: YAHOO
Reported 29 days ago
Corning Inc. projects a robust fourth-quarter performance, anticipating revenue of $3.75 billion, exceeding analysts' expectations. The company attributes this growth to increased demand for optical fiber driven by rising data consumption patterns, including those from AI model training. Shares rose by 4.8% in premarket trading following the announcement.
Source: YAHOO
Reported 29 days ago
Access Bank, Nigeria’s leading lender, plans to sell dollar-denominated securities in the local market to support its expansion and comply with new capital regulations by the central bank. The bank aims to issue two tranches targeting development financial institutions and the wider market, with plans to finalize the first tranche by mid-2025. As the naira continues to depreciate significantly, Nigerian investors have increasingly turned to dollar assets to safeguard their funds.
Source: YAHOO
Reported 29 days ago
The European Union announced a €1.4 billion ($1.5 billion) investment in the deep tech research sector for 2025, aiming to enhance its competitiveness with the US and China in technology and AI. This funding, sourced from the European Innovation Council, marks a nearly €200 million increase compared to the previous year and is part of a broader strategy to invigorate Europe's economy through tech innovation.
Source: YAHOO
Reported 29 days ago
Apple is set to release its quarterly earnings on October 31, and industry experts are keenly observing the reception of the iPhone 16 and updates regarding its AI initiatives. Ramon T. Llamas from IDC highlights the importance of convenience, ease of use, and utility in the new iPhone, amid concerns of a lengthening upgrade cycle. The iPhone continues to be a major revenue driver, contributing 67% to 70% of the company's total earnings, while the Services sector is noted for its profitability.
Source: YAHOO
Reported 29 days ago
Blue chip stocks are influencing early market movements, with McDonald’s and Pfizer exceeding earnings expectations and raising their forecasts. In contrast, Ford’s shares are down despite surpassing sales estimates due to disappointing guidance for the full year.
Source: YAHOO
Reported 29 days ago
Source: INVESTORS
Reported 29 days ago
Pfizer's CEO Albert Bourla defended the company's turnaround strategy amid activist shareholder pressure, highlighting a higher-than-expected profit driven by strong sales of the COVID-19 treatment Paxlovid. Despite reporting better-than-expected earnings and raising annual forecasts, investors expressed caution, urging for improved profitability and growth from recent acquisitions. Bourla confirmed his commitment to Pfizer's future and outlined ongoing cost-cutting measures and plans to enhance their drug pipeline.
Source: YAHOO
Reported 29 days ago
Source: YAHOO
Reported 29 days ago
Source: YAHOO
Reported 29 days ago
Royal Caribbean has raised its annual profit forecast for the fourth time this year, fueled by strong demand for cruises at higher prices, particularly to private destinations and in Europe and Alaska. The company's shares rose about 1.3%, reflecting a 57% gain this year. Royal Caribbean anticipates strong demand for 2025, with current bookings exceeding prior years. The company expects adjusted earnings per share for 2024 to be between $11.57 and $11.62, up from earlier predictions, though it warned of potential profits being impacted by Hurricane Milton.
Source: YAHOO
Reported 29 days ago
US regional banks are experiencing increasing stress in their commercial real estate (CRE) portfolios due to a rise in non-performing office loans, as remote work remains common. Analysts have noted that while rate cuts could alleviate some pressure on other segments of CRE, the unique challenges posed by hybrid work arrangements are likely to persist. With around $950 billion in CRE mortgages set to mature in 2024, banks face potential defaults and increased strain on their balance sheets, further complicating the situation.
Source: YAHOO
Reported 29 days ago
BP Plc is contemplating a reduction in its share buybacks next year, currently at a quarterly pace of $1.75 billion, as weaker oil prices are leading to increased debt, which rose by $1.7 billion to $24.27 billion in Q3. Despite maintaining its buyback strategy for the time being, CEO Murray Auchincloss emphasized the variability of buybacks depending on performance and market conditions, hinting at a review in February 2025. The company's overall financial outlook remains cautious, with expectations of low fuel margins and a commitment to transitioning towards greener energy.
Source: YAHOO
Reported 29 days ago
VF Corp, the owner of Vans, experienced a 22% surge in share prices after returning to profit following two quarters of losses, indicating a promising turnaround plan under CEO Bracken Darrell. The company is focusing on its core Vans brand while cutting costs and divesting from non-core businesses like Supreme. Despite expected revenue declines of 1% to 3% in the current quarter, improvements in direct-to-consumer sales and a shift towards full-price sales have bolstered investor confidence.
Source: YAHOO
Reported 29 days ago
Japan's Liberal Democratic Party (LDP) is set to engage in high-level discussions with the Democratic Party For the People (DPP), which may lead to tax break policies for part-time workers. DPP leader Yuichiro Tamaki is advocating for raising the income threshold for tax-free part-time earnings, hoping to ease labor shortages and increase household incomes, even as it may reduce government tax revenues. Prime Minister Shigeru Ishiba faces pressure to secure support ahead of an upcoming vote, making a potential deal with the DPP crucial for maintaining his administration.
Source: YAHOO