Reported 3 months ago
Amid rising inflation, McDonald's is facing declining sales as budget-conscious customers seek better value elsewhere. The fast-food giant reported a 0.7% drop in sales at U.S. stores, leading to a global sales decrease of 1%. CEO Chris Kempczinski noted a shift in consumer behavior, particularly among low-income households, prompting the introduction of new value meal options. Despite early signs of success with the $5 meal deal, the company acknowledges the need for further improvements to win back customers.
Source: YAHOO
Reported 3 months ago
On July 29, 2024, U.S. stock indexes closed with mixed results ahead of major earnings reports and a Federal Reserve meeting. The S&P 500 gained 0.1%, while the Dow Jones fell 0.1%, and the Nasdaq also rose 0.1%. Notably, ON Semiconductor exceeded profit expectations. Key reports from tech giants like Microsoft, Apple, Amazon, and Meta Platforms are expected later this week, alongside potential hints of a rate cut from the Fed.
Source: YAHOO
Reported 3 months ago
On Monday, the stock market saw mixed results with the Dow Jones Industrial Average falling by 49 points, while the S&P 500 and Nasdaq managed to post small gains. The Russell 2000 index fell nearly 1%. Investors are anticipating earnings reports from major tech companies, notably Microsoft, which is set to release its results after the market closes on Tuesday.
Source: YAHOO
Reported 3 months ago
Chesapeake Energy disclosed a net loss of $227 million in its second quarter, contrasting with a profit of $391 million from the same period last year, as production dropped nearly 25% due to low natural gas prices and reduced demand. The company adjusted its 2024 capital expenditure forecast downward and expects to continue curtailed production in response to market conditions.
Source: YAHOO
Reported 3 months ago
US stock markets started the week with mixed results as the Dow Jones dipped slightly while the S&P 500 and Nasdaq saw minor gains. This week is pivotal with anticipation surrounding the Federal Reserve's interest rate decision, a crucial jobs report due on Friday, and earnings reports from major tech companies like Microsoft and Apple. Following a substantial rise last Friday, investors are keenly watching for potential surprises that could impact market momentum.
Source: YAHOO
Reported 3 months ago
The Federal Motor Carrier Safety Administration has approved a two-year exemption for Covenant Logistics, allowing commercial learner's permit holders to drive company trucks with a CDL holder on duty in the sleeper berth. Despite support from the American Trucking Associations, the decision has faced significant objections from industry groups like the Owner-Operator Independent Drivers Association and the Truck Safety Coalition, citing safety concerns and questioning the efficacy of mentoring without direct supervision.
Source: YAHOO
Reported 3 months ago
Starbucks investors are bracing for a disappointing Q2 earnings report, with analysts predicting lower same-store sales and reduced foot traffic as the coffee chain introduces new menu items to attract customers. The company will release its financial results on Tuesday, drawing significant attention from Wall Street.
Source: YAHOO
Reported 3 months ago
This week, major tech earnings from companies like Microsoft and Amazon could signal shifts as investors rotate towards small-cap stocks amid a current market trend. According to Liz Young Thomas from SoFi, large-cap tech stocks are being sold to realize profits, making small caps the beneficiaries of this rotation. Investors might be responding to the ease of liquidating large tech positions, indicating a possible short-term movement in investment strategies.
Source: YAHOO
Reported 3 months ago
After witnessing a bustling week for US IPOs, driven by Lineage Inc.'s $4.4 billion offering and several other notable listings, market analysts foresee a slowdown in activity during the upcoming months, particularly in August. While over $6 billion was raised last week, experts predict the lack of substantial IPOs until the post-Labor Day period will lead to a quieter summer ahead, although a more active window may emerge in September and October.
Source: YAHOO
Reported 3 months ago
Charter Communications will pay a $15 million fine to settle an FCC investigation regarding its failure to properly notify officials about network outages. The violations were linked to both unplanned outages and scheduled maintenance incidents in 2023, including an outage caused by a minor denial of service attack.
Source: YAHOO
Reported 3 months ago
J.M. Smucker, best known for its jams, is reportedly looking to sell its cookie brand Voortman Bakery, which could be valued over $350 million. The company, which previously acquired Voortman as part of its Sweet Baked Snacks unit, is collaborating with Goldman Sachs to attract potential buyers. Although Smucker declined to comment on the sale, it continues to pursue opportunities to enhance its business and shareholder value.
Source: YAHOO
Reported 3 months ago
Senator Cynthia Lummis is proposing legislation to designate Bitcoin as a strategic reserve asset for the Federal Reserve, aligning it with traditional assets like gold. This move is part of a broader effort to stabilize the U.S. dollar and reflect the growing mainstream status of Bitcoin, also echoed by presidential candidate Robert F. Kennedy Jr. during his campaign advocating for cryptocurrencies. The Bitcoin Conference has showcased these developments, with political figures like Kamala Harris engaging with crypto supporters, further emphasizing the relevance of Bitcoin in the upcoming 2024 Presidential election.
Source: YAHOO
Reported 3 months ago
Stellantis CEO Carlos Tavares has hinted at possible drastic measures, including the elimination of underperforming vehicle brands, following a significant 48% drop in net profit. Tavares, who initially committed to investing in all 14 brands for a decade, may now prioritize profitability, leading to speculation about which brands like Lancia and Alfa Romeo could face discontinuation. Analysts suggest that Maserati, with its substantial losses, might also be on the chopping block, marking a significant shift in the automotive landscape.
Source: YAHOO
Reported 3 months ago
Wall Street is expressing ongoing anxiety regarding the impact of GLP-1 weight loss drugs on medical device manufacturers, particularly after Dexcom reduced its profit forecasts. Despite concerns, competitors like Abbott and Medtronic remain unaffected, and industry experts note that supply constraints rather than demand have primarily shaped the market dynamics. Furthermore, both continuous glucose monitoring devices and bariatric surgeries remain underutilized, presenting opportunities for growth amidst increased competition from emerging GLP-1 drugs.
Source: YAHOO
Reported 3 months ago
The term 'upper class' generally refers to households in the top 20% of earners, with an income exceeding $153,000 in 2024, significantly above the median household income of $74,580. Geographic location plays a critical role in determining this status, as different areas have varying cost of living markers. Factors such as education, marital status, and investments also influence economic standing, highlighting the complexity of defining class through income alone.
Source: YAHOO
Reported 3 months ago
Arm Holdings' stock price is experiencing a decline following a downgrade from HSBC Securities, which changed its rating from Hold to Reduce. The downgrade stems from concerns that the company's AI potential is not as robust as previously anticipated. However, HSBC analyst Frank Lee has adjusted the price target upward to $105 from $100.
Source: YAHOO
Reported 3 months ago
A U.S. judge has ordered Wells Fargo to face a lawsuit accusing the bank of misleading shareholders regarding its diversity hiring practices by conducting sham interviews of non-white and female candidates. Despite previously dismissing a version of the suit, Judge Trina Thompson found that there is sufficient evidence to suggest intent to defraud. The claims center around a policy aimed at ensuring diversity in hiring, while former employees allege fake interviews were commonplace. Wells Fargo maintains its commitment to diversity and has stated its intention to defend against the lawsuit.
Source: YAHOO
Reported 3 months ago
Southwest Airlines has decided to eliminate its long-standing open-seating policy and adopt assigned seating in an effort to boost revenue amid disappointing financial performance. This change, initiated under pressure from activist investors, aims to attract premium travelers and enhance margins, but it risks alienating loyal customers who valued the airline's unique approach. While the company anticipates potential annual gains exceeding $1 billion from these changes, the reaction from customers remains uncertain, especially given previous surveys indicating a strong preference for the open-seating system.
Source: YAHOO
Reported 3 months ago
Financial expert Suze Orman emphasizes the risks of a complacent retirement strategy, suggesting that simple financial maintenance could prevent a looming disaster. Key actions include regularly rebalancing retirement accounts, ensuring beneficiary designations are updated, and reviewing subscriptions that may no longer be beneficial. By taking these steps, individuals could potentially save substantial amounts and protect their financial future.
Source: YAHOO
Reported 3 months ago
Lamborghini has reported record revenue and profits for the first half of 2024, achieving €1.6 billion in revenue and €458 million in operating profit, both significant increases from the previous year. The Italian automaker's success is attributed to strong sales of its hybrid models, particularly the Revuelto supercar and Urus SUV, despite a challenging market for luxury goods. Lamborghini's commitment to electrification and appealing design has resonated with buyers, positioning it favorably against competitors who are experiencing declines.
Source: YAHOO
Reported 3 months ago
In this episode of Yahoo Finance's 'Wealth!', host Brad Smith delves into the upcoming quarterly earnings reports from major tech companies like Amazon and Microsoft, the complexities of navigating the healthcare system with rising medical bills discussed by health reporter Anjalee Khemlani, and tax strategies for student loans highlighted by BNY wealth strategist Jere Doyle. Additionally, they analyze the financial implications of the 2024 Paris Olympics, where $9.7 billion has already been spent, but the total costs remain uncertain.
Source: YAHOO
Reported 3 months ago
Despite reporting disappointing second-quarter results, McDonald's is extending its $5 meal deal as a strategy to enhance profitability. This move aims to attract more customers, even amidst concerns from an analyst about potential negative effects on the company's other offerings. Senior reporter Brooke DiPalma discusses the implications of this decision.
Source: YAHOO
Reported 3 months ago
US stocks closed mixed on Monday, with the S&P 500 rising nearly 0.1% and the Nasdaq Composite showing a slight increase, as investors gear up for a significant week ahead featuring the Federal Reserve's interest rate decision, job reports, and major tech earnings from companies like Microsoft and Apple. Despite a slight decline in the Dow Jones Industrial Average, enthusiasm remains high following a positive inflation reading that encouraged expectations for future interest-rate cuts.
Source: YAHOO
Reported 3 months ago
Source: BARRONS
Reported 3 months ago
Apple shares (AAPL) are on the rise after TD Cowen raised its price target from $220 to $250, with analyst Krish Sankar discussing the company's recent stabilization in China and clearer AI strategies. Despite concerns, Sankar notes that sentiment around Apple has improved, although he advises caution regarding the immediate impact of AI developments on the stock.
Source: YAHOO