Reported 2 months ago
Intel Corp. has projected disappointing third-quarter revenue of $12.5 to $13.5 billion, falling short of analyst expectations, and plans to cut over 15,000 jobs as it struggles to compete in the AI market. CEO Pat Gelsinger acknowledged challenges ahead, noting that both costs and margins need improvement. The company's stock dropped significantly after the announcement, reflecting ongoing struggles against competitors like Nvidia and AMD.
Source: YAHOO
Reported 2 months ago
Following Governor Kazuo Ueda's recent hawkish comments and an unexpected interest rate hike, most analysts are reevaluating their forecasts for the Bank of Japan's rate trajectory. According to a recent Bloomberg survey, 68% of economists now predict a rise in the policy rate to 0.5% by the end of the year, with a significant portion anticipating hikes as early as October. Ueda's determination to normalize policy has increased confidence among analysts regarding future rate increases.
Source: YAHOO
Reported 2 months ago
Amazon's stock fell over 8% in pre-market trading after the company reported third-quarter sales guidance between $154 billion and $158.5 billion, which was below analysts' expectations of $158.43 billion. While Amazon exceeded earnings estimates with an EPS of $1.26, concerns over weaker overall revenue and competition in the e-commerce sector overshadowed its performance. Additionally, despite a strong showing from its cloud division, AWS, which generated $26.3 billion, the company faces increasing pressure to adjust to cautious consumer spending and stiff competition from budget retailers.
Source: YAHOO
Reported 2 months ago
In its third quarter, Apple (AAPL) reported earnings of $1.40 per share and revenue of $85.78 billion, both exceeding Wall Street estimates. However, revenue from Greater China fell short at $14.73 billion against expectations of $15.26 billion. Notably, revenue across all Apple units, especially Services, performed better than projected.
Source: YAHOO
Reported 2 months ago
In a recent episode of Good Buy or Goodbye, Kamran Ansari highlighted Microsoft as a prime investment due to its favorable valuation and potential benefits from AI investments, while advising investors to steer clear of Groupon, citing its declining revenue and loss in market appeal.
Source: YAHOO
Reported 2 months ago
DoorDash has projected a strong core profit for the third quarter, driven by resilient online ordering and surpassing revenue estimates for the June quarter. With shares soaring more than 13%, the company reported a 19% increase in orders compared to the previous year and expects adjusted earnings between $470 million and $540 million, outpacing market expectations. Despite concerns over a slowdown in U.S. restaurant demand, DoorDash's CFO emphasized robust consumer demand on their platform.
Source: YAHOO
Reported 2 months ago
DoorDash's stock soared following the release of its optimistic Q3 outlook, predicting an adjusted EBITDA between $470 million to $540 million, surpassing analysts' expectations of $449.2 million. The company also reported a narrower-than-expected adjusted loss of $0.38 per share in Q2 alongside revenues of $2.63 billion, exceeding estimates.
Source: YAHOO
Reported 2 months ago
Amazon reported mixed results for the second quarter, with earnings per share exceeding expectations at $1.26, but net sales falling short at $147.98 billion. The company's forecast for Q3 operating income also disappointed, expecting between $11.5 billion and $15 billion, below the anticipated $15.66 billion. Meanwhile, AWS saw net sales of $26.28 billion, surpassing estimates.
Source: YAHOO
Reported 2 months ago
Nio's stock fell 8.3% after the company reported July deliveries of around 20,500 electric vehicles, a 2% increase from the previous year but a slight decline from June's figures. Investors are disappointed as they anticipated stronger sales growth and a path towards profitability; the company has seen a 55% decline in stock value this year. In contrast, rival Li Auto posted a 50% increase in July deliveries, raising concerns about Nio's competitiveness in the market.
Source: YAHOO
Reported 2 months ago
The Federal Reserve opted to keep interest rates steady, with discussions of a potential cut in September amid upcoming elections. Wall Street Journal's Nick Timiraos notes that historical behavior of Fed officials suggests they do not factor in political elements when making monetary policy decisions, despite increased scrutiny from investors as election day approaches.
Source: YAHOO
Reported 2 months ago
Snap Inc. reported Q2 adjusted earnings of $0.02 per share, meeting expectations, but its revenue of $1.24 billion fell short of the anticipated $1.25 billion. Although daily active users increased to 432 million, the company's Q3 outlook of $70 million to $100 million in adjusted EBITDA is below the Bloomberg consensus estimate of $110.5 million, causing a drop in stock value.
Source: YAHOO
Reported 2 months ago
Warren Buffett's Berkshire Hathaway is expected to release its second-quarter earnings this Saturday, with significant focus on its operating income, which stood at $11.2 billion last quarter. Investors are particularly interested in the company's massive cash reserves of $189 billion, speculation on potential share buybacks, and recent adjustments to its investments, including a reduction in its stakes in Apple and Bank of America. The performance of its insurance segment, a key revenue driver, is also anticipated to provide insights into the company's financial health.
Source: YAHOO
Reported 2 months ago
Apple reported its Q3 earnings, surpassing expectations with a revenue of $85.5 billion and EPS of $1.40, despite a drop in iPhone sales to $39.2 billion. The company struggled in China, earning $14.7 billion compared to predictions of $15.2 billion. However, services and iPad sales showed growth, while Apple prepares to launch its new generative AI software, Apple Intelligence, which may impact future iPhone sales.
Source: YAHOO
Reported 2 months ago
Intel's shares have dropped in after-hours trading after the company reported second-quarter earnings that fell short of expectations, posting $12.83 billion in revenue against an anticipated $12.95 billion, and adjusted earnings of $0.02 per share compared to the expected $0.10. In response, the semiconductor giant announced a $10 billion cost-cutting plan which includes laying off 15,000 employees.
Source: YAHOO
Reported 2 months ago
The Federal Reserve's decision to maintain interest rates has sparked debate on whether rate cuts will be initiated in the upcoming September FOMC meeting. Wall Street Journal's Nick Timiraos discusses the Fed's stance on the labor market, highlighting a perception of balanced risks regarding inflation and employment. While the Fed remains cautious, the market seems to anticipate more downside risks in employment rather than inflation.
Source: YAHOO
Reported 2 months ago
Intel reported disappointing second quarter earnings, missing revenue and earnings expectations, leading to a 16% drop in stock price. The company announced a $10 billion cost reduction plan that includes cutting 15% of its workforce and suspending dividend payments. Intel’s revenue forecast for Q3 is also below analyst expectations as it competes in a challenging PC market, aiming to reclaim market share amidst rising competition from AMD and Qualcomm.
Source: YAHOO
Reported 2 months ago
U.S. stocks closed lower on Thursday, with the Nasdaq Composite dropping 2.3% ahead of upcoming earnings reports from major tech companies. The S&P 500 and Dow Jones Industrial Average also fell over 1% each, influenced by expectations that the Federal Reserve may cut interest rates and upcoming employment data.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Nvidia's stock fell more than 6% on Thursday, reversing the previous day's 12% gain, as the tech sector experienced a sell-off driven by weak economic data. Despite the drop, analysts remain optimistic about Nvidia's long-term prospects, noting strong capital expenditures from major clients like Microsoft and Meta, which account for a significant portion of its revenue. The semiconductor sector as a whole struggled, yet Nvidia is still considered a dominant player in the AI chip market.
Source: YAHOO
Reported 2 months ago
Numerous venture capitalists, including notable figures like Mark Cuban and Reid Hoffman, have pledged their support for Vice President Kamala Harris, as part of a collective initiative dubbed VCsforKamala. The movement boasts over 110 signatories representing approximately $150 billion in venture capital, emphasizing a pro-business and technology-focused agenda. Key investors on the list include Ron Conway, Vinod Khosla, and Brook Byers, while notable opponents of Harris exist, including Elon Musk and Peter Thiel, indicating a split in the tech community ahead of the upcoming elections.
Source: YAHOO
Reported 2 months ago
Stocks are experiencing pressure after new manufacturing and jobless claims data fell short of investor expectations. Chief investment strategist Michael Kantrowitz remarks that the latest economic indicators signal a continuing breakdown in the economy, with rising unemployment and lackluster manufacturing output overshadowing previous positive trends.
Source: YAHOO
Reported 2 months ago
Treasury yields have dipped following the Federal Reserve's decision to hold interest rates, with expectations of potential rate cuts in September. Analyst Leslie Falconio from UBS suggests that while yields are likely to decrease, the current market sentiment may be overly dovish compared to the Fed's guidance, particularly in light of upcoming economic data such as July jobs figures. The discussion explores what these developments could mean for the bond and fixed-income markets.
Source: YAHOO
Reported 2 months ago
The upcoming July jobs report is expected to show a continued cooling in the US labor market, with forecasts predicting a gain of 175,000 nonfarm payrolls and an unchanged unemployment rate of 4.1%. Economic analysts are closely watching this report amid concerns about a potential economic slowdown and the impacts of recent jobless claims rising to 249,000, indicating a softer economy. The report will also be scrutinized for any signs that could trigger the Sahm Rule, which has historically predicted recessions.
Source: YAHOO
Reported 2 months ago
US stocks fell sharply on Thursday due to disappointing economic data and a significant decline in technology shares, particularly in the semiconductor sector. The Nasdaq Composite dropped 2.3%, while the S&P 500 and Dow Jones also experienced losses, with the 10-year Treasury yield slipping below 4% for the first time since February. Recent reports indicated a deeper contraction in the manufacturing sector and a rise in jobless claims, prompting investors to reassess market conditions amidst expectations of a Federal Reserve rate cut in September. Despite some individual stocks reporting better-than-expected earnings, the overall market sentiment remained negative.
Source: YAHOO
Reported 2 months ago
Moderna's stock plummeted by over 20% after the company lowered its 2024 sales forecast to between $3 billion and $3.5 billion, down from $4 billion, citing a lack of new COVID-19 vaccine orders from the EU. Despite outperforming revenue expectations in Q2 with $241 million, the company reported a greater-than-expected earnings loss. CEO Stéphane Bancel highlighted challenges due to the ongoing war in Ukraine, rising inflation, and competition from Pfizer and GSK in the RSV vaccine market. Bancel expressed hopes for future growth driven by upcoming product launches.
Source: YAHOO