Economic forecaster Lakshman Achuthan has a warning for investors: Brace for earnings to go negative. According to the Economic Cycle Research Institute co-founder, the global slowdown is unleashing major challenges for U.S. corporations. Achuthan turns to a chart of S&P 500 earnings growth to build his case. “Every time you have a cyclical slowdown in
Earnings
SOPA Images | LightRocket | Getty Images Delta Air Lines shares rose Thursday after the Atlanta-based carrier raised its profit forecast for the year amid strong travel demand. The Atlanta-based carrier expects to earn $6.75 to $7.25 per share this year, up from a previous estimate of $6 to $7 a share. Shares rose up more than
Tesla Motors CEO Elon Musk unveils large utility scale home batteries at the Tesla Design Studio in Hawthorne, California. David McNew | AFP | Getty Images Tesla shares surged on Wednesday after what Barclays’ called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings
Pedestrians walk past a Walgreens store in New York. Michael Nagle | Bloomberg | Getty Images Walgreens Boots Alliance reported fiscal third-quarter earnings that beat Wall Street’s expectations Thursday before market open. The drugstore chain reported adjusted earnings of $1.47 per share, beating analysts polled by Refinitiv’s expectations of $1.43 per share. Walgreens posted $34.59
Nike sold more sneakers and sports gear during the fiscal fourth quarter than Wall Street expected, helping to boost revenues by 4% to just over $10 billion. Its earnings released Thursday, however, missed analysts’ expectations by a few pennies a share, and the stock initially fell by more than 4% in after-hours trading before rebounding.
NEW YORK, NY – APRIL 24: Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the opening bell, April 24, 2019 in New York City. U.S. stocks started the trading day mixed, following Tuesday’s closing record highs for the S&P 500 and Nasdaq. Drew Angerer | Getty Images
A pedestrian crosses the street in front of a Rite Aid Corp. store in Los Angeles, California. Patrick T. Fallon | Bloomberg | Getty Images Shares of Rite Aid seesawed premarket trading Thursday on disappointing quarterly earnings results as the drugstore chain struggles to prove itself as an independent company. Rite Aid lost 99.3 million,
Sanjay Mehrotra, CEO, Micron Technology Scott Mlyn | CNBC Shares of memory and storage company Micron rose more than 7% after-hours Tuesday after the company beat analysts’ expectations for its fiscal third quarter of its 2019 earnings. Here are the key numbers: Earnings: $1.05 per share, excluding certain items, vs. 79 cents per share as
General Mills Cereal boxes Joe Raedle | Getty Images Shares of General Mills tumbled Wednesday after the Cheerios maker’s quarterly revenue fell short of analysts’ estimates as fewer Americans eat its snack foods. The company’s stock, which has a market value of $32.2 billion, fell by more than 5% during premarket trading. Net sales for
Frederick Smith, CEO of FedEx. Adam Jeffery | CNBC FedEx CEO and Chairman Frederick Smith said on Tuesday the company’s lawsuit against the Department of Commerce is “separate and distinct” from recent shipping incidents involving Chinese technology company Huawei. The shipping company sued the Department of Commerce on Monday, saying that regulations requiring companies to