Reported 2 months ago
As summer travel continues, experts suggest that more consumers are choosing cruises over traditional hotel stays for their convenience and all-inclusive offerings. Travel strategist Jen Ruiz points out that cruising allows travelers to visit multiple destinations without the hassle of planning, an attractive option amid rising costs and inflation that encourages budget-conscious travel. With the upcoming Paris Summer Olympics, Ruiz also shares tips on how to sidestep tourist crowds in France.
Source: YAHOO
Reported 2 months ago
Spirit Airlines has announced that it expects its third-quarter revenue to fall below analysts' estimates, projecting between $1.16 billion and $1.18 billion, compared to the $1.33 billion anticipated by the market. This downturn is attributed to fierce competition, overcapacity, and operational disruptions stemming from a CrowdStrike IT outage that led to the cancellation of 470 flights, costing the airline $7.2 million. The airline also reported a wider-than-expected loss in the previous quarter as issues with specific aircraft engines further impacted its operations.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Hershey has reduced its annual profit and sales forecasts after reporting a nearly 17% decline in quarterly sales, as consumers increasingly seek cheaper alternatives amid rising product prices. The company's shares dropped over 4% in premarket trading following this news. Overall, Hershey's net sales fell short of expectations, particularly in the North American market, where demand for its confectionary products has been negatively impacted by consumers' price sensitivity. The company now anticipates a net sales growth of around 2% for the year, down from a previous estimate of 2% to 3%.
Source: YAHOO
Reported 2 months ago
Maersk has raised its full-year earnings and market demand outlook due to disruptions in Red Sea shipping routes, now forecasting a 4-6% increase in global container market volumes. However, the company expressed uncertainty regarding supply and demand conditions for the fourth quarter, as it continues to experience higher shipping rates and congestion at ports. This marks the third revision of its guidance for 2024.
Source: YAHOO
Reported 2 months ago
Occidental Petroleum announced that Colombian firm Ecopetrol will not proceed with acquiring a 30% stake in its CrownRock assets, despite previous talks. Occidental had agreed to acquire CrownRock last year in a deal worth $12 billion. Should they not finalize the deal, Ecopetrol can opt for an indirect 49% interest in CrownRock through a joint venture agreement. Occidental aims to sell $4.5 billion to $6 billion of assets within 18 months after the CrownRock purchase closes in August.
Source: YAHOO
Reported 2 months ago
Intercontinental Exchange (ICE) reported a rise in second-quarter profits due to strong trading performance, particularly in energy markets amid rising volatility from geopolitical tensions. Trading volumes surged notably, with energy trades up by 31% and natural gas volumes increasing by 36%. The company's total revenue from its exchange business reached $1.25 billion, marking a significant year-over-year increase.
Source: YAHOO
Reported 2 months ago
Ferrari has raised its full-year revenue and core earnings forecasts following a successful second quarter driven by higher sales of expensive models and greater demand for personalized features. The company anticipates adjusted EBITDA to reach at least €2.50 billion, up from a previous estimate of €2.45 billion, supported by a stronger product mix and positive cash generation.
Source: YAHOO
Reported 2 months ago
The Bank of England has reduced interest rates from a 16-year high, lowering them by 0.25% to 5% following a narrow 5-4 vote among policymakers. Governor Andrew Bailey emphasized the need for caution in future rate adjustments as the BoE monitors inflation pressures, which have recently moderated. This marks the first rate cut since March 2020 amid concerns over economic growth and inflation forecasts. Financial markets had anticipated a rate cut, though the situation remains fluid with expectations of further adjustments depending on future economic indicators.
Source: YAHOO
Reported 2 months ago
Anheuser-Busch InBev has reported encouraging profits that surpassed expectations, contrasting sharply with the struggles of its peers in the alcohol sector. While the company acknowledges continuing challenges linked to low consumer confidence and economic turbulence, it maintained its growth forecast despite mixed results in volumes and revenue. The broader spirits market is facing declines as consumers opt for cheaper options amid a cost of living crisis, raising concerns about the long-term viability of premium pricing strategies.
Source: YAHOO
Reported 2 months ago
ConocoPhillips exceeded Wall Street expectations in its second-quarter earnings, driven by higher oil production and prices, while planning a major acquisition of Marathon Oil worth $22.5 billion. Despite a forecast for lower third-quarter production due to maintenance activities, the company has adjusted its full-year output estimates upward. The adjusted earnings per share were $1.98, slightly above analysts' estimates.
Source: YAHOO
Reported 2 months ago
The Bank of England has reduced interest rates from a 16-year high to 5%, following a narrow 5-4 decision among policymakers. This cut, initially moving the pound lower, aligns with economists' forecasts but was approached with caution due to ongoing inflation concerns. As market reactions unfold, indicators suggest a potential trend of gradual interest rate reductions in the future.
Source: YAHOO
Reported 2 months ago
Ark Invest's Cathie Wood recently set a bold price target for Tesla, imagining a potential increase of 1,082% by 2029, driven largely by the company's advancements in self-driving technology. However, some analysts believe this prediction might be conservative, as Tesla also pursues opportunities in robotics and energy storage, which could substantially enhance its long-term value beyond just electric vehicles.
Source: YAHOO
Reported 2 months ago
The Bank of England has lowered interest rates for the first time since 2020, leading to a drop in the pound's value by 0.7% against the dollar, trading around $1.2764. While investors had anticipated this decision, uncertainty lingered regarding future cuts amid mixed economic signals. Gilt yields, on the other hand, decreased, reflecting cautious market expectations for continued rate easing. The pound remains strong against other major currencies in 2024, but analysts suggest that further cuts by the BOE could weigh on its value.
Source: YAHOO
Reported 2 months ago
Labcorp reported stronger than expected Q2 earnings, driven by increased demand for diagnostic tests post-pandemic, prompting the company to raise its sales growth forecast for the year. However, it lowered its annual profit outlook due to costs associated with acquiring bankrupt genetic test maker Invitae. The diagnostics unit brought in $2.52 billion in sales, while total sales reached $3.22 billion, exceeding analyst estimates.
Source: YAHOO
Reported 2 months ago
Iron Mountain reported a significant increase in funds from operations (FFO) for the second quarter, driven by a surge in demand for its data-center services as businesses invest in infrastructure for AI and cloud migration. FFO rose 10% to $1.08 per share, while quarterly revenue hit $1.53 billion, surpassing expectations. The company also announced a 10% increase in its cash dividend.
Source: YAHOO
Reported 2 months ago
The Bank of England has cut interest rates for the first time since 2020 in a closely contested 5-4 vote, lowering the benchmark to 5%. This move is intended to provide some relief to households after a year of high borrowing costs. However, there is no indication of when further cuts might occur, and officials have emphasized a cautious approach moving forward, citing ongoing inflation risks and a need for careful monitoring of economic conditions.
Source: YAHOO
Reported 2 months ago
Ball Corp reported a second-quarter profit that surpassed analyst expectations, driven by successful cost-reduction initiatives and lower input costs. Despite a decline in beverage packaging sales in North America and South America due to lower consumer spending, the company saw adjusted earnings of 74 cents per share, exceeding forecasts. However, net sales for the quarter fell to $2.96 billion, below estimates of $3.10 billion.
Source: YAHOO
Reported 2 months ago
Investors are focusing on major tech companies as Meta sees a rise in its stock following better-than-expected Q2 earnings. All eyes will be on Apple and Amazon as they prepare to report their results, along with other significant players such as Snap, Intel, and Coinbase. Yahoo Finance highlights trending stocks including Arm Holdings and Qualcomm.
Source: YAHOO
Reported 2 months ago
The Bank of England (BoE) has reduced interest rates to 5% for the first time since increasing rates from a historic low in December 2021. The decision aims to alleviate financial pressure on mortgage holders and businesses following a significant drop in inflation. While the BoE recognizes the need for careful management to sustain low inflation, analysts suggest that the actual impact may be limited for many consumers facing tighter financial conditions.
Source: YAHOO
Reported 2 months ago
Moderna has reduced its 2024 sales forecast for COVID-19 and RSV vaccines by up to $1 billion, anticipating minimal sales in the EU market. The company now projects annual revenues between $3 billion and $3.5 billion, a stark decrease from previous estimates of $4 billion. This shift comes after struggles to secure agreements with the EU, alongside competitive pressures from rival vaccines and potential delays in international sales. Amid a reported net loss of $1.3 billion for the second quarter, Moderna aims for growth in 2025, banking on newer mRNA products.
Source: YAHOO
Reported 2 months ago
Nvidia's stock has more than doubled this year due to soaring demand for its GPUs in AI applications. However, the stock is known for its volatility, especially during earnings season, with significant past sell-offs. Nvidia will release its fiscal second-quarter results on August 28, and while expectations are high for continued revenue growth—expected to reach approximately $28 billion—investors are advised to consider waiting for earnings before making a purchase, particularly if the stock's premium valuation leads to a post-earnings dip.
Source: YAHOO
Reported 2 months ago
Mobileye Global has reduced its annual revenue and profit projections, responding to unstable demand for its driver-assistance chips, particularly from China. Shares of the Israeli automotive tech firm dropped nearly 10% in premarket trading as the company anticipates lower shipments of its EyeQ and SuperVision products amidst a weak consumer market and decreased orders from automakers.
Source: YAHOO
Reported 2 months ago
The Bank of England has reduced its main interest rate by 0.25% to 5%, marking the first decrease in more than four years, as announced on August 1, 2024.
Source: YAHOO
Reported 2 months ago
Source: YAHOO