The corporate earnings picture continues to deteriorate, with companies exposed to tariffs taking a particularly strong hit. As profit reports just start to trickle in, the expectations are getting worse. Forecasters already were indicating negative earnings growth for the second quarter, but the outlook also has swung into red numbers for the third quarter, according
Earnings
Lennar reported a higher-than-expected quarterly profit on Tuesday, as the No. 2 U.S. homebuilder’s sales got a boost from lower interest rates for mortgages, sending its shares up 4% before the opening bell. Several years of rising rates had put a brake on parts of the U.S. housing market in 2018. But a moderation in
An Olive Garden restaurant in Laguna Hills, California Scott Mlyn | CNBC Shares of Darden Restaurants slid nearly 4% in Thursday morning after its earnings report showed that declining traffic to Olive Garden, its top chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter. The restaurant company’s stock, which has a market value of
The Carnival Paradise cruise ship arrives in port June 30, 2017 in Havana, Cuba. Alexander Creutzmann | Mambo photo | Getty Images Carnival cut its profit forecast for the year on Thursday due to the Trump administration’s sudden ban on cruises to Cuba and higher expenses related itinerary changes for one of its ships. Shares
Shantanu Narayen, CEO, Adobe Mark Neuling | CNBC Adobe shares rose more than 3% after hours on Tuesday after the company announced better-than-expected earnings for the second quarter of its 2019 fiscal year, which ended on May 31, and lighter-than-expected guidance. Here are the key numbers: Earnings: $1.83 per share, excluding certain items, vs. $1.78
Operations at U.S. Steel Source: United States Steel Corporation United States Steel on Tuesday said it would idle two blast furnaces in the United States and a third in Europe, as lower steel prices and softening demand led the steel producer to forecast current-quarter earnings below the Wall Street estimates. Steel producers in the United