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 […]
EA earnings: What to expect
Electronic Arts Inc.’s upcoming earnings will show how spending on video games has held up in the current economic climate. The Tuesday afternoon report kicks off earnings season for the major publishers, with reports from Take-Two Interactive Software Inc. TTWO, -1.42% and Activision Blizzard Inc. ATVI, -0.85% to come next week. But EA EA, +0.09% […]
Royal KPN posts forecast beating profit, begins $325.5 million share buyback program
Royal KPN NV on Tuesday reported a 21% rise in fourth-quarter net profit that beat forecasts, and said it has started a new 300 million-euro ($325.5 million) share buyback program. The Dutch telecommunications operator KPN, +0.92% made a net profit for the quarter of EUR190 million compared with EUR157 million for the same period a […]
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. Source link
It’s a key week for the stock market. If you’re not nervous, you should be, this global strategist warns.
Investors have got the jitters as a big week unfolds — several central bank meetings including the Fed, earnings from Apple and Amazon.com, and jobs data. Yikes.Any investor out there who isn’t nervous, perhaps should recheck his gut, says our call of the day, from Standard Chartered’s global head of research, Eric Robertsen. “We do […]
IAG shares fall in Australia after massive flooding in New Zealand
SYDNEY — Shares in Insurance Australia Group Ltd. IAG, -3.74% fell early Monday after the general insurer said that claims in New Zealand will likely rise after severe storms and flooding around Auckland, and that it may review its natural peril costs for fiscal 2023. The stock was down 4.5% to 4.88 Australian dollars (US$3.45), […]
Apple, Amazon, Facebook and Google face earnings test amid Big Tech layoffs
In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning.After tech stocks were decimated in 2022, investors will be looking for signs of a turnaround in holiday reports and potential forecasts for the year ahead from three of 2022’s top […]
McDonald’s earnings haven’t been hit by higher prices, as ‘it just seems like Americans are more upset by the change in price at grocery stores’
Rising prices have kept diners away from many restaurants, but not McDonald’s Corp. As the ubiquitous burger chain prepares to report fourth-quarter results on Tuesday with its stock close to record highs, Wall Street could get pickier about signs of the company’s growth, though analysts were largely upbeat heading into the report. Some said McDonald’s […]
AMD earnings face even more scrutiny after ‘astonishingly bad’ Intel outlook
Advanced Micro Devices Inc. gets to show Wall Street if it “certainly” ended 2022 in a better place, after the price of clearing inventory helped gut results from rival Intel Corp. AMD AMD, +0.32% is scheduled to report earnings after the close of markets on Tuesday. AMD Chief Executive Lisa Su said three months ago […]
Shares of Adani-linked companies slump as Indian conglomerate issues defense to short-seller claims
Stocks of affiliated companies founded by Asia’s richest man Gautam Adani continued to fall in Mumbai markets on Friday, extending a slide after a U.S. short seller published its two-year investigation into the group’s business practices. The shares of flagship firm Adani Enterprises 512599, -18.52% sank as much as 20% and other linked companies saw […]