UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
Intel stock drops nearly 10% after earnings miss, execs predict quarterly loss as data-center market shrinks
Intel Corp. shares dropped more than 9% in the extended session Thursday after the chip maker reported a big miss for the fourth quarter, forecast a loss for the first quarter, said the data-center market was contracting and that inventory digestion will gnaw at margins. Intel INTC, +1.31% executives forecast an adjusted loss of 15 […]
JD Sports Fashion sees 2023 profit at the higher end of expectations after stronger Christmas sales
JD Sports Fashion PLC said Wednesday that it expects to report fiscal 2023 adjusted pretax profit toward the top end of market expectations after it booked a strong performance during the Christmas period. The sports-and-fashion retailer JD, +6.42% said that for the fiscal year ending Jan. 28 it expects to report adjusted pretax profit in […]
FedEx stock tanks after company withdraws outlook, says year is about to get worse
FedEx Corp. shares fell nearly 17% in the extended session Thursday after the logistics company pulled its outlook for the year, called for significantly lower quarterly profit and lower revenue, and said that fiscal 2023 is about to become worse. FedEx FDX, -0.07% said fiscal first quarter was hit by lower volumes globally, a trend […]