Walgreens tops quarterly revenue estimates, but narrows profit outlook in 'challenging' economy
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Shopify Stock Slumps to Record Drop as Revenue Outlook Weakens
While its first-quarter results were largely better than expected, the online-shopping platform must now navigate an environment of shaky consumer spending.The Wall Street Journal - World -
Bertelsmann Keeps Mixed Outlook After Revenue Drop
Bertelsmann said for 2024 it continues to expect a significant decline in revenue and earnings due to asset sales, but a moderate increase in both revenue and earnings from continuing operations.The Wall Street Journal - Business -
Shopify Stock Slumps to Record Drop as Revenue Outlook Weakens
While its first-quarter results were largely better than expected, the online-shopping platform must now navigate an environment of shaky consumer spending.The Wall Street Journal - Business -
Robinhood Stock Jumps After Company Reports Record Revenue and Profit
The online brokerage’s revenue and earnings topped Wall Street expectations. Shares were up about 6% after hours.The Wall Street Journal - World -
Instacart names Uber veteran its new CFO, as results top estimates
Maplebear Inc. — the grocery-delivery platform better known as Instacart — said Wednesday that its chief financial officer had resigned, effective immediately, and appointed a veteran of Uber Technologies Inc. in his place.MarketWatch - Business -
Munich Re Says Full-Year Profit Could Top €5 Billion
The German reinsurer posted net profit for the first three months of 2024 of $2.3 billion, in line with preliminary figures, and said it was “more likely” it would surpass its full-year profit target.The Wall Street Journal - Business -
U.S. states’ tax revenue from legal cannabis tops $20 billion since 2014: study
U.S. states’ tax revenues from legal cannabis sales have surpassed $20 billion in total since the recreational marijuana industry kicked off 10 years ago, according to a study by the Marijuana Policy Project.MarketWatch - Business -
Biden promotes economy in battleground Wisconsin
As he struggles on the economy in polling, President Biden touted his administration's economic achievements. But the president faces skepticism from voters who say they are still struggling. NBC News' Peter Alexander reports.NBC News - Politics - Joe Biden -
India's Economy Isn't the New China (Yet)
Its ascent is evident, but its per capita GDP is only a little more than half of Indonesia’s.The Wall Street Journal - World - China -
Shopify’s stock slides 19% after company swings to quarterly loss
Shopify is expecting its gross margin to shrink by 50 basis points in the second quarter.MarketWatch - Business -
Icahn Enterprises says it will keep paying its $1 quarterly dividend
Carl Icahn’s investing arm narrowed its loss in the first quarter even as revenue fell.MarketWatch - Business -
AMC’s Q1 loss narrows and ‘better times are ahead’ says CEO Adam Aron
AMC Entertainment Holdings Inc. narrowed its loss in the company’s first-quarter results after the bell Wednesday, and outperformed amid the lingering impact of the Hollywood writers’ and actors’ strikes, according to Chief Executive Adam Aron.MarketWatch - Business -
Puma Confirms Outlook Despite Continued Volatility
Puma forecast an operating result of €620 million-€700 million for 2024, with analysts suggesting it should achieve sequential sales growth helped by some major sporting events.The Wall Street Journal - Business -
Barry Sternlicht says the Fed’s ‘tool kit is flawed’ for this economy, urges Fed rate cuts
Regional banks and the federal government are big losers of higher rates, but so are cities reeling from wobbling commercial real estate, says Starwood Property Trust’s CEO.MarketWatch - Business - Federal Reserve -
Intel Lowers Sales Outlook After China Chip Licenses Revoked
The chip maker kept its full-year forecast but said it expected revenue to be below the midpoint of the second-quarter range.The Wall Street Journal - World - China -
If the economic outlook is so good, why are people tapping their 401(k)s?
Bank of America has suddenly reported a sharp jump in the size of loans and hardship withdrawals from its 401(k) plansMarketWatch - Business -
Intel Lowers Sales Outlook After China Chip Licenses Revoked
The chip maker kept its full-year forecast but said it expected revenue to be below the midpoint of the second-quarter range.The Wall Street Journal - Business - China -
Duolingo’s longer-term forecast gets brighter, but short-term outlook disappoints
Duolingo Inc. on Wednesday said it saw a jump in demand in the first quarter, but investors appeared more concerned about the second, even as the language-learning app offered up more optimism further out.MarketWatch - Business -
Apple’s walled ecosystem is cracking in Europe, but revenue is still protected
Apple is astutely guarding its proprietary golden goose.MarketWatch - Business -
Arm shares drop as revenue forecast falls short despite AI boom
Lacklustre outlook raises concerns that spending on artificial intelligence chips could slowFinancial Times - Business -
Airbnb shares slide on lower revenue forecast despite a doubling of net income
Airbnb's profit more than doubled last quarter, but management's disappointing revenue forecast sparked a roughly 7% drop in its stock in after-market tradingABC News - Tech -
Benjamin Netanyahu's growing political challenges
CIA Director Bill Burns met with Israeli Prime Minister Benjamin Netanyahu in Jerusalem on Wednesday to try to broker a cease-fire and hostage release deal between Israel and Hamas. CBS News chief foreign affairs correspondent and "Face the ...CBS News - Top stories -
Fitch cuts NYCB’s debt rating deeper into junk territory but says outlook remains stable
Analyst cites “weaker earnings and profitability profile in addition to execution risk.”MarketWatch - Business -
Ranking rookie QBs with best long-term outlook. No. 1 may surprise you
The quarterback business is unforgiving, just ask Zach Wilson. Charles Robinson looks at the factors that can outline a path for survival and ranks the top six.Yahoo Sports - Sports -
The Top 3 Reasons Why Workers Come Into the Office
Struggling to up your office attendance? Here are three parts of the office experience you may want to improve.Inc. - Business -
Pirates to call up top pitching prospect Skenes
The Pirates are calling up star prospect Paul Skenes, and the hard-throwing right-hander is expected to debut Saturday at PNC Park against the Cubs.ESPN - Sports -
Toyota Motor Projects Annual Profit Drop
The Japanese carmaker projected a drop in fiscal-year profit on higher costs and announced a share buyback after posting stronger fourth-quarter net profit thanks partly to a weaker yen.The Wall Street Journal - Business -
Alstom to Cut Costs, Forecasts Higher Profits
Alstom said adjusted earnings rose 17% with an improved margin and guided for further profit growth in 2025, as it looks to cut overheads and procurement costs.The Wall Street Journal - Business -
CBA Reports Lower Profit as Margins Weaken
Commonwealth Bank of Australia posted a fall in third-quarter profit, reporting slightly lower margins as competition remains in the country’s retail banking sector.The Wall Street Journal - World