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 […]
Swiss Retail Sales || Act: -2.8% Prev: -1.3%
<p>Swiss Retail Sales || Act: -2.8% Prev: -1.3%ughh – following ze germans with poor sales data</p> This article was written by Ryan Paisey at www.forexlive.com. Source link
Australia December retail sales -3.9% m/m (expected -0.3%)
Australia December retail sales -3.9% m/m – a huge miss but there were warnings expected -0.3%, prior +1.4% (November benefitted from Black Friday sales) the -3.9% m/m is the first fall after 11 consecutive months of rises apart from the pandemic and the introduction of sales tax (GST) this is the worst month ever The […]
Australian retail sales data due today – “risk firmly to the downside”
Australian retail sales data are due at 0030 GMT (this is 1930 US ET and 11.30am in Sydney): Snippet from National Australia Bank’s preview: Shifting seasonal patterns put the risk firmly to the downside in our view, and NAB pencils in a -1.0%, but with high uncertainty. Black Friday pulling spending into November drove the […]
Gautam Adani falls to world’s eighth richest man as short seller report wipes $72 billion off Adani market value
Indian billionaire Gautam Adani’s wealth is evaporating, as Adani Group companies have lost a combined $72 billion in market value since U.S. short seller Hindenburg Research published a report on the Indian conglomerate last week. Once Forbes’ third richest billionaire, Adani has fallen back from his quick rise up the ranks, now falling to eighth […]
Adani shares mixed after 413-page response to Hindenburg
Shares of Adani Group companies were mixed in early trading Monday after the Indian conglomerate hit back at criticisms by U.S. short seller firm Hindenburg Research in a 413-page rebuttal. Flagship company Adani Enterprises 512599, +3.47% and Adani Ports & Special Economic Zone Ltd. 532921, -0.74% were up 6.8% and 4.8%, respectively, reversing course from […]
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 […]
S&P downgrades Bed Bath & Beyond, says beleaguered retailer has ‘insufficient funds’ to repay its financial obligations
S&P Global Ratings downgraded Bed Bath & Beyond Inc.’s credit Friday, a day after the beleaguered retailer said it was in default on loans that have been called in. The default filing sent Bed Bath & Beyond’s BBBY, +1.19% stock plunging, although it rallied to end Friday’s session up 1.2%, outpacing the S&P 500 Index’s […]
U.S. consumer sentiment strengthens in final January reading
The numbers: U.S. consumer sentiment improved in late January to 64.9, according to the University of Michigan’s gauge of consumer attitudes. This added 5.2 index points from 59.7 in December and was up from the initial January reading of 64.6. Economists surveyed by The Wall Street Journal had forecast an unchanged reading of 64.6. Key […]
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 […]