Lowe’s recent announcement of a reduced full-year forecast has raised concerns about the future of the company. The retailer’s quarterly sales declined, leading to projections of weak home improvement spending in the second half of the year. The company now anticipates total sales of between $82.7 billion and $83.2 billion for the full year, a
Earnings
After Palo Alto Networks posted better-than-expected fiscal 2024 fourth-quarter earnings and revenue, Wall Street responded with an enthusiastic 8% surge in the company’s stock price. This brought the stock just a few dollars shy of its record-high close, prompting Jim Cramer to describe the recent move as “parabolic.” While the short-term outlook may seem promising,
Estee Lauder, a renowned name in the prestige beauty market, recently faced challenges with its fiscal 2025 guidance. Despite capping off fiscal year 2024 on a positive note, the company’s forecast for the new fiscal year fell short of expectations. With organic net sales projected to decline or show minimal growth, and adjusted EPS forecasted
The recent second-quarter earnings report from Flutter revealed impressive growth in revenue, driven largely by the success of its FanDuel betting platform. This positive news caused a surge in investor interest, with shares rising approximately 8% following the announcement. One of the key highlights of the report was Flutter’s decision not to impose a surcharge
Tencent, the Chinese tech giant, recently reported its financial results for the second quarter, surpassing both revenue and profit expectations. The company’s revenue stood at 161.12 billion Chinese yuan, exceeding the LSEG consensus estimate of 160.77 billion yuan. Similarly, the profit attributable to equity holders of the company was 47.63 billion Chinese yuan, beating the
The stock of Palo Alto Networks has seen significant growth leading up to its fourth-quarter earnings report. This surge has raised investor expectations, putting pressure on the company to meet or exceed Wall Street estimates. The heightened anticipation for positive results has influenced trading decisions, as some investors have downgraded their rating on Palo Alto
Chili’s has experienced a significant turnaround in its revenue growth, with same-store sales climbing nearly 15% in its latest quarter. The success can be attributed to an effective ad campaign targeting fast-food chains and a TikTok-viral appetizer. Kevin Hochman, CEO of parent company Brinker International, believes that the chain’s recent strong performance is a culmination
Alibaba, the Chinese e-commerce giant, fell short of both revenue and net income expectations for the June quarter of 2024. The company reported revenue of 243.24 billion Chinese yuan, missing the expected 249.05 billion yuan. Similarly, net income stood at 24.27 billion yuan, lower than the estimated 26.91 billion yuan. The revenue was up by
Norway’s sovereign wealth fund recently announced a first-half profit of 1.48 trillion kroner, with the bulk of the gains attributed to the robust returns on its investments in technology stocks. The Government Pension Fund Global, touted as the world’s largest sovereign wealth fund, revealed that it had a value of 17.75 trillion kroner by the
Recent market volatility has caused UBS CEO Sergio Ermotti to express concerns about the possibility of a recession in the United States. Despite the sharp sell-offs in global equities and the weak economic data coming out of the U.S., Ermotti believes that a recession may not be imminent, but a slowdown is definitely a possibility.