Mondelez International Inc. late Tuesday reported adjusted second-quarter earnings above Wall Street expectations and increased its dividend by 10%, but said a stronger dollar could take a bigger chunk of its 2022 revenue growth. Mondelez said it earned $747 million, or 54 cents a share, in the quarter, compared with $1.08 billion, or 76 cents a share, in the year-ago period. Adjusted for one-time items, Mondelez earned 67 cents a share. Revenue increased 9.5% to $7.3 billion, the company said. Читать дальше...
Visa Inc. topped expectations with its latest results, showing continued growth in consumer spending despite uncertainties about the economy.
Former President Donald Trump on Tuesday called the U.S. a "cesspool of crime," and said a forceful response is needed to violence, in his first remarks in Washington since leaving office.
Chipotle Mexican Grill Inc. rally more than 8% in the late session Tuesday after the fast-casual restaurant chain beats Wall Street quarterly expectations as menu price increases took some of the sting from rising costs it faced.
The Biden White House plays defense before Thursday’s reading on U.S. gross domestic product, which is expected to show a drop for the second quarter in a row.
Williams-Sonoma Inc. said late Tuesday that Ryan Ross, president of its flagship Williams Sonoma brand, is resigning effective immediately "to assume a leadership role outside of the company." The retailer said Chief Marketing Officer Felix Carbullido will become the president of the Williams Sonoma brand. Shares of Williams-Sonoma fell 2.2% in the extended session after ending the regular trading day down 2%.
Читать дальше...The Fed on Wednesday needs to send a message to traders pricing in a reversal of Fed interest rate hikes next year.
“We worry that the market is not adequately considering the tail risk that inflation continues to surprise to the upside” as growth slows, one strategist says.
Microsoft Corp. missed expectations for profit and revenue in a Tuesday earnings report, as deteriorating economic conditions led to an even greater shock than expected when executives revised their guidance at the beginning of June.
Shares of Alphabet Inc.'s Google popped more than 2% in extended trading Tuesday after the computing behemoth reported results largely in line with Wall Street estimates.
Alphabet earnings and revenue miss targets; stock rises in late trading
Microsoft stock falls as earnings and revenue miss expectations
Dow finishes down over 200 points ahead of Fed rate decision; Nasdaq off 1.9%
U.S. stocks closed lower Tuesday as investors digested a profit warning from Walmart ahead of the Federal Reserve's policy decision on interest rate hikes aimed at curbing high inflation. The Dow Jones Industrial Average fell around 0.7%, while the S&P 500 slid 1.2% and the Nasdaq Composite dropped 1.9%, according to preliminary FactSet data. Retail giant Walmart Inc. said Monday after the market's close that high food inflation was hurting its customers' spending on general merchandise and it was lowering its profit forecast. Читать дальше...
Natural-gas futures climbed on Tuesday to settle at their highest since June 7, according to Dow Jones Market Data. Prices continued to find support after reports that Russian state-owned energy producer Gazprom’s natural-gas exports through the Nord Stream pipeline to Germany would drop by half. August natural gas rose 27 cents, or nearly 3.1%, to settle at $8.993 per million British thermal units on the New York Mercantile Exchange. September West Texas Intermediate crude , meanwhile, fell $1.72... Читать дальше...
Facebook parent company Meta Platforms Inc. on Tuesday said it is raising the price of Meta Quest 2 headsets by $100 to $399.99 (128GB) and $499.99 (256GB), starting Aug. 1. The company reports second-quarter results on Wednesday. Rival Apple Inc. is reportedly readying a headset of its own, for a possible announcement later this year.
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Gold futures settled lower for a second straight session on Tuesday. Prices were "treading water" ahead of the Federal Reserve's decision on interest rates due Wednesday, said Adrian Ash, director of research at BullionVault. For now, strength in the U.S. dollar ahead of the decision has weighed on dollar-denominated gold prices. August gold fell $1.40, or nearly 0.1%, to settle at $1,717.70 an ounce.
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Grill maker Traeger Inc. was downgraded to neutral from outperform at Credit Suisse, with analysts saying that recent news from both Traeger and rival Weber Inc. "suggest a soft start to the summer selling season and more importantly, dampened consumer sentiment." Credit Suisse cut Traeger's price target to $4 from $8. In an 8-K dated July 14, Traeger announced plans for a workforce reduction that will result in pre-tax charges between $6 million and $7 million. On Monday, Weber announced a sales warning. Читать дальше...
President Joe Biden, who tested positive for COVID-19 last week, "now feels well enough to resume his physical exercise regimen," his physician said in a letter released by the White House on Tuesday. Dr. Kevin O'Connor also reiterated that Biden's symptoms "have now almost completely resolved."
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Keefe, Bruyette & Woods analyst Robert Lee cut his rating on private equity firm Blackstone Inc. to market perform from outperform and lowered his price target on the stock to $115 a share from $127 a share. "We see few current avenues for its premium valuation to expand in the current environment and strong fee-related earnings growth may already be substantially reflected in BX's valuation," Lee said in a note distributed on Sunday. A recent drop in Blackstone's stock price "reflects wariness... Читать дальше...
‘My parents set up the company so that I had a slight majority of the shares.'
PayPal Holdings Inc. shares were sagging Tuesday after two consumer-facing names issued warning signs about their businesses and the state of shopping behavior.
The top U.S. auto-safety regulator is opening an investigation into reported catastrophic engine failures with some Ford Bronco vehicles, yet another setback in the auto maker’s efforts to improve its quality record.
Customers have been devastated by Klondike discontinuing the treat. Here's the company's full statement on the matter.
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