Reported 3 months ago
Macy's has reported first quarter earnings that exceeded low expectations despite facing declining revenue and challenges related to tariffs and cautious consumer behavior. The retailer's revenue fell 5.1% year-over-year to $4.6 billion, surpassing analyst predictions. Adjusted earnings per share also beat forecasts, though same-store sales dropped 1.2%. The company has revised its earnings outlook for 2025 amid uncertainties while reaffirming sales guidance, as it struggles with macroeconomic challenges and shifts towards e-commerce.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
The recent 90-day trade truce between the US and China has led to a significant increase in container bookings, particularly in the shipping industry. During a discussion, Semiramis Paliou, CEO of Diana Shipping, explained that the impact of potential EU tariffs varies across shipping sectors. While car carriers and container sectors may face greater risks due to their trade ties with the US, the dry bulk sector, less exposed, may not be as significantly affected. However, disruptions in the system have been noted, especially with US agricultural exports to China shifting to other markets like Brazil.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
The recent steepening of the yield curve is raising concerns and opportunities for equity investors, particularly as US Treasury yields decline. Experts highlight the need for caution in long-term bond exposure while suggesting a focus on yield-oriented investments, such as dividend growth stocks and infrastructure-related equities. Corporate profitability appears stable for now, but increasing rates could pose risks to profit margins, prompting investors to explore mid-cap equities and other sectors that may remain resilient amid rising interest rates.
Source: YAHOO
Reported 3 months ago
Remy Cointreau has announced that Franck Marilly will succeed Eric Vallat as CEO starting June 25, following Vallat's resignation. Marilly, with over 30 years in the luxury industry and a background in companies like Chanel and Shiseido, will need to navigate challenges in sales and tariffs affecting the company's key markets in the U.S. and China.
Source: YAHOO
Reported 3 months ago
Eni has signed an exclusivity agreement with Global Infrastructure Partners (GIP) to facilitate the sale of a 49.99% co-control stake in Eni CCUS Holding, a leader in carbon capture, utilization, and storage in Europe. The partnership aims to enhance investment in projects like Hynet and Bacton in the UK and supports Eni's strategy to attract aligned capital for further growth in new energy sectors. This follows extensive interest from global investors in Eni's CCUS initiatives, which are crucial for emission reduction and energy transition.
Source: YAHOO
Reported 3 months ago
CoreWeave, Inc. (NASDAQ:CRWV) experienced a significant 20.66% increase in stock price on Tuesday, reaching $123.97 per share, following the appointment of Carl Holshouser as Vice President for Government Affairs. With two decades of experience in public affairs, Holshouser is expected to lead the company's efforts in influencing federal and state policies. Additionally, CoreWeave benefits from challenges faced by Nvidia's suppliers, as it operates servers that were impacted by delays in AI data center rack shipments.
Source: YAHOO
Reported 3 months ago
Jim Cramer has highlighted AutoZone, Inc. (NYSE:AZO) as a strong investment choice, noting its impressive performance and aggressive stock buyback program. He encourages investors to buy the stock if it dips, as management is committed to supporting it. While acknowledging AZO's potential, the article also suggests that AI stocks may offer even higher returns.
Source: YAHOO
Reported 3 months ago
Meta Platforms, the owner of Facebook, Instagram, and WhatsApp, has recently faced scrutiny regarding lax policies related to its ad business, contributing to a slowdown in growth rates and raising concerns about future performance. Reports reveal that nearly half of reported scams on Zelle were linked to Meta, with a significant portion of new advertisers promoting scams. As the company navigates an antitrust case that could lead to the sale of Instagram and/or WhatsApp, analysts advise caution for potential investors due to the uncertain growth outlook and existing regulatory challenges.
Source: YAHOO
Reported 3 months ago
Cathie Wood of Ark Invest believes Tesla's Robotaxi service could drive its stock price to $2,600 in five years, but the challenge lies in the company's current position relative to Waymo, which is ahead in autonomous driving. For Tesla to achieve this optimistic target, it must rapidly expand its Robotaxi fleet and overcome significant hurdles in safety, technology, and competition, as its self-driving capabilities are still limited compared to Waymo's advanced level 4 autonomy.
Source: YAHOO
Reported 3 months ago
Remy Cointreau has appointed Franck Marilly as its new CEO, replacing Eric Vallat, who resigned after leading the company through the pandemic and a subsequent luxury spirits boom. Marilly, a luxury industry veteran, will take office on June 25 and is tasked with reversing the decline in sales due to economic pressures and tariffs affecting the brand's key markets in the U.S. and China. He aims to maintain the company’s focus on high-end brand value while navigating the challenges ahead.
Source: YAHOO
Reported 3 months ago
British American Tobacco has sold a $1.5 billion stake in India's ITC, comprising 313 million shares at 413 rupees each, exceeding its initial plan. The sale, conducted through a block deal, resulted in a slight discount from ITC's closing price and caused the shares to drop nearly 3%. Despite this, BAT will remain the largest shareholder in ITC and plans to enhance its share buyback program following the deal.
Source: YAHOO
Reported 3 months ago
On May 28, Wall Street will focus on first-quarter earnings from Nvidia, Salesforce, HP, and Abercrombie & Fitch. Nvidia is expected to report strong results driven by high demand for its Blackwell chips, while Salesforce analysts anticipate no major slowdown. Additionally, minutes from the recent FOMC meeting will provide insights into the Fed's interest rate decisions.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Okta (OKTA) reported a Q1 earnings per share of $0.86, surpassing estimates of $0.77, and showed a revenue of $688 million, exceeding the forecast. This performance reflects an 11.69% earnings surprise and continues Okta's trend of exceeding earnings expectations for four consecutive quarters. However, the current outlook for the stock remains cautious with a Zacks Rank #4 (Sell), indicating anticipated underperformance in the near future.
Source: YAHOO
Reported 3 months ago
Nvidia is set to announce its Q1 earnings, with analysts predicting earnings per share of 88 cents on revenue of $43.4 billion, reflecting significant growth in data centers despite challenges from US chip restrictions on China. Key focuses will include data center revenue and the impact of the $5.5 billion charge linked to sales bans of Nvidia's H20 chips in China. There are discussions on Nvidia's strategy to navigate these challenges, including potential adaptations of their chips for the Chinese market and their expansion into regions like the Middle East.
Source: YAHOO
Reported 3 months ago
General Motors is committing $888 million to enhance engine production at its Tonawanda propulsion plant in Buffalo, New York, shifting focus from earlier plans for electric vehicle drive units. This investment will support the development of a new generation V8 engine aimed at improving fuel efficiency for full-size trucks and SUVs. Governor Kathy Hochul announced that the project would secure 870 jobs, with significant tax credits offered by the state. Despite a strategic pivot in response to EV market demand, GM remains committed to its plans for transitioning to electric vehicles.
Source: YAHOO
Reported 3 months ago
Traders are approaching Nvidia's upcoming earnings report with caution, as indicated by the heavy trading of put options in the VanEck Semiconductor ETF, reflecting concerns about potential volatility in the semiconductor sector. Over the past 10 days, about 2.4 put options were traded for every call option, marking the most defensive trading in months. While Nvidia itself saw mixed options action, overall investor interest remains high, especially as Nvidia, accounting for 20% of the ETF's assets, prepares to report its results.
Source: YAHOO