Reported about 1 month ago
Starbucks Corporation's shares dropped as it reported a 7% decline in same-store sales for the fourth quarter, marking the third straight quarter of sales drops. The company has decided to withdraw its guidance for 2025, focusing on a turnaround strategy under new CEO Brian Niccol, who has indicated a need for a fundamental change in strategy. The drastic sales drop, particularly in the US and China, has raised concerns about the company's future trajectory.
Source: YAHOO
Reported about 1 month ago
Australia's corporate regulator, ASIC, has filed a lawsuit against QBE Insurance, accusing the insurer of misleading over half a million customers about pricing discounts on their products from July 2017 to September 2022. The lawsuit claims QBE used a flawed pricing model that reduced discounts customers were entitled to, leading to a 1.1% drop in QBE's shares. ASIC seeks civil penalties and has previously urged improvements in claim-handling practices within the insurance industry.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
The UK has raised concerns over food security following an increase in Russian attacks on Ukrainian port infrastructure, which have damaged merchant ships and disrupted grain shipments crucial for regions including Gaza and southern Africa. With Ukraine being a vital global grain supplier, these strikes pose a significant threat during harvest season, impacting not only Ukraine's economy but also global food supplies. In response, the UK is enhancing its military support to Ukraine and working with Germany on defense cooperation while preparing to protect maritime routes in the Black Sea.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
McDonald's shares dropped after the CDC reported an E. coli outbreak linked to Quarter Pounders, resulting in 10 hospitalizations and one death. The fast-food giant has temporarily halted the use of fresh onion and quarter-pound beef patties in several states as they investigate the source of the contamination, with most cases concentrated in Colorado and Nebraska.
Source: YAHOO
Reported about 1 month ago
Meta Platforms and CEO Mark Zuckerberg successfully had a lawsuit dismissed that accused them of misleading shareholders about the company's ability to ensure the safety of children on Facebook and Instagram. A U.S. District Judge ruled that the plaintiff did not demonstrate economic losses from Meta's disclosures and that federal law did not require detailed accounts of child safety measures. The dismissal prevents future litigation on this matter, although Meta still faces other lawsuits related to children's safety.
Source: YAHOO
Reported about 1 month ago
Conor Cunningham from Melius Research discusses the airline industry's need to prioritize profitability as it recovers from pandemic disruptions. He highlights the importance of effective supply management, suggesting airlines should slow growth, reassess their customer targets, and refine their product offerings. Cunningham identifies United Airlines and Delta Air Lines as noteworthy stocks, emphasizing their strategies to cater to both premium and basic market segments.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, US Secretary of Energy Jennifer Granholm highlighted the growing interest of major tech companies, including Microsoft, Google, and Amazon, in clean energy through Small Modular Reactors (SMRs). She emphasized the importance of these reactors for powering AI data centers with clean baseload energy, while acknowledging the challenges of their widespread adoption. Granholm calls for tech companies to unite in agreeing on specifications for these reactors to facilitate their deployment.
Source: YAHOO
Reported about 1 month ago
General Motors (GM) has seen a significant rise in its stock value, following a strong third quarter earnings report and an adjustment to its full-year financial guidance. The company's shares have increased approximately 50% this year, in contrast to struggling automakers like Ford. Analysts credit GM's focus on cost control and a $10 billion accelerated share repurchase plan as key drivers of its stock's impressive performance.
Source: YAHOO
Reported about 1 month ago
The S&P 500 faced its first consecutive losses since early September, closing slightly below the flatline as investors reacted to a recent bond market sell-off and upcoming earnings reports. US stocks remained mixed, with the Dow Jones Industrial Average also ending lower while the tech-focused Nasdaq saw marginal gains. Market sentiment is clouded by uncertainties surrounding Federal Reserve policies, mixed earnings from major companies like General Motors and Verizon, and ongoing geopolitical tensions affecting investor confidence.
Source: YAHOO
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Starbucks reported its preliminary earnings for Q4, revealing adjusted earnings of $0.80 per share, significantly below the $1.03 expected by analysts. Total net revenue of $9.1 billion also fell short of the anticipated $9.36 billion, with same-store sales declining 7% compared to an expected drop of 3.48%. The company's guidance for fiscal 2025 has been suspended, indicating a challenging outlook ahead.
Source: YAHOO
Reported about 1 month ago
Citi analysts have upgraded First Solar (FSLR) to a Buy rating, contrasting with their decision to downgrade Canadian Solar (CSIQ) from Neutral to Sell. Market analysts Julie Hyman and Josh Lipton provide insights on these changes. For further analysis on market actions, viewers can check Market Domination.
Source: YAHOO
Reported about 1 month ago
Texas Instruments exceeded third-quarter revenue expectations with $4.15 billion, surpassing the projected $4.12 billion, and recorded adjusted earnings of $1.47 per share against a forecast of $1.37. However, the semiconductor giant's fourth-quarter revenue guidance fell short of expectations.
Source: YAHOO
Reported about 1 month ago
With the US election approaching, market strategist Rick Rieder emphasizes the volatility created by election uncertainties as a chance for investors to buy stocks at lower prices. He believes that regardless of the election outcome, the economy will remain resilient, making investments in robust companies a sound strategy.
Source: YAHOO
Reported about 1 month ago
Lockheed Martin's stock experienced a significant drop after the company reported third-quarter earnings that missed revenue expectations. The aerospace and defense leader generated $17.1 billion in revenue, falling short of the anticipated $17.37 billion, despite an adjusted earnings per share of $6.84 that exceeded analyst projections.
Source: YAHOO
Reported about 1 month ago
The stock market experienced a quiet session with slight gains, as the three major indexes finished just above the flatline, with the Nasdaq Composite rising by 0.26%. Meanwhile, the 10-year Treasury yield remains steady at 4.2%. Analysts from Yahoo Finance discussed the day's market dynamics and sector performance.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs forecasts a significant decline in S&P 500 equity returns over the next decade, with expected returns dropping to around 3% compared to the 13% of the past ten years. Equity strategist Ben Snider reassures that while their call highlights concerns over high market concentration, they remain optimistic about long-term corporate profit growth and the general outlook for S&P 500 stocks.
Source: YAHOO
Reported about 1 month ago
Genuine Parts Company (GPC) saw its stock plummet on Tuesday after falling short of third quarter earnings expectations, attributing the underperformance to weakness in its European operations and industrial segments.
Source: YAHOO
Reported about 1 month ago
Source: BARRONS
Reported about 1 month ago
Source: YAHOO
Reported about 1 month ago
Tupperware Brands has agreed to sell its business to a group of lenders for $23.5 million and over $63 million in debt relief, canceling its planned auction of assets. This decision was announced during a bankruptcy court hearing in Delaware, as Tupperware seeks to navigate its financial difficulties after filing for bankruptcy with $818 million in debt. The lenders will acquire the brand and operations in key markets, focusing initially on North America, Asia, and gradually moving to European and other Asian markets while winding down operations in areas with heavy liabilities.
Source: YAHOO