Tag: earnings

S&P 500, Dow Open Higher on Earnings Optimism

The S&P 500 and the Dow opened higher on Thursday after strong profit forecasts from companies such as Macy’s, while data confirmed the U.S. economy contracted in the first-quarter, quelling some worries about aggressive rate hikes. The Dow Jones Industrial Average rose 127.89 points, or 0.40 percent, at the open to 32,248.17. The S&P 500…


4 Nordstrom Analysts React to Mixed Q1 Earnings: ‘We Remain Skeptical’

Nordstrom, Inc. shares traded higher by 11 percent on Wednesday after the company reported strong first-quarter sales numbers and raised its full-year guidance. On Tuesday, Nordstrom reported a first-quarter adjusted EPS loss of 6 cents, slightly missing consensus analyst estimates of a 5-cent loss. First-quarter revenue of $3.57 billion exceeded Wall Street expectations of $3.28…


Apple’s Supply Chain Issues Are ‘Investor Distraction Vortex’ and ‘Blown Out of Proportion’: Analyst

Problems with Apple Inc.’s supply chain have been “blown out of proportion” according to Gene Munster, Apple analyst and co-founder and managing partner at Loup Funds. Munster said in a note published on April 29 that the tech giant’s supply chain issues are in fact an “investor distraction vortex” after the company predicted a decline in performance…


Microsoft Analyst Warns Ahead of Quarterly Earnings: ‘There’s Little Margin for Error’

Microsoft Corporation is scheduled to report its fiscal-year third-quarter results after the market closes next Tuesday. Ahead of the event, an analyst at Piper Sandler sounded out downside risks but retained his bullish bias. Microsoft Analyst Brent Bracelin maintained an Overweight rating and $352 price target on Microsoft shares. Microsoft Thesis Durability of the Microsoft…


TD Synnex’s Q1 Earnings Exceed Expectations

TD Synnex Corp. reported first-quarter FY22 revenue growth of 213.2 percent year-over-year to $15.47 billion, beating the consensus of $15.31 billion. Revenue fell 0.9 percent Q/Q. Adjusted EPS of $3.03 beat the consensus of $2.73. The adjusted operating margin contracted by 37 bps to 2.79 percent. The trailing fiscal four quarters ROIC was 9.7 percent compared to…


More Chinese Property Developers Delay Earnings Reports, Deepening Market Concerns Over Sector’s Woes

A growing number of Chinese property developers this week said they will be unable to publish audited 2021 earnings statements on time, deepening market concerns over the sector’s financial troubles. Indebted Kaisa Group Holdings Ltd. became the latest developer to disclose that it will most likely miss the deadline for reporting audited financial results due…


BMW Beats Pre-Pandemic Earnings, but Chip Troubles Hit Fourth Quarter

BERLIN—BMW more than doubled pre-pandemic earnings in 2021 to 16 billion euros ($17.67 billion), the company said on Thursday, as higher prices and strong sales of top-end cars boosted revenue despite supply chain constraints. The premium carmaker, which sold a record 2.52 million vehicles last year despite semiconductor shortages, reported a 10.3 percent earnings margin…


Scottish Tory Leader Douglas Ross Avoids Punishment Over Undeclared Earnings

Scottish Conservative leader Douglas Ross has avoided sanctions after failing to declare earnings while serving as an MP. Ross referred himself to the Standards Commissioner in November for not recording his full MSP salary and earnings as a match official for the Scottish Football Association. In a judgment released on Friday, Parliamentary Commissioner for Standards…


Burger King, Tim Hortons Power Restaurant Brands Sales Beat

Restaurant Brands International Inc. beat estimates for quarterly revenue and profit on Tuesday, led by soaring online sales and a recovery in demand at its Burger King and Tim Hortons chains. Consumers are increasingly venturing out to diners, encouraged by easing COVID-19 curbs, after the nearly two-year long health crisis prompted restaurant closures and dine-in…


3M Sees Earnings Hit From Waning Mask Demand

Industrial giant 3M Co. on Monday forecast a slower pace of sales growth in 2022 and a 45 cent hit to its per-share earnings, as demand for its masks wanes due to the global vaccination drive against COVID-19. The company is expecting total sales growth in the range of 1 percent to 4 percent for…