Missing Earnings Views Cutting Outlook
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CVS shares plummet as health company slashes profit outlook on higher medical costs
CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.CNBC - Business -
Mastercard sees healthy spending, expects strong dollar to impact revenue growth
Mastercard Inc. lowered its GAAP revenue outlook for the full year, but not because it has a more cautious view of the spending landscape.MarketWatch - Business -
Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales
The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.CNBC - Business - Covid -
Santander Confirms Outlook Despite Profit Miss
Santander posted a below-forecast rise in first-quarter net profit, for the first quarter, but said it was on track to meet its key 2024 financial targets.The Wall Street Journal - Business -
Starbucks Shares Plunge After Sales, Earnings Miss
Speeding up service and introducing new beverages are part of efforts to win back customers, executives say.The Wall Street Journal - World -
Starbucks Shares Plunge After Sales, Earnings Miss
Speeding up service and introducing new beverages are part of efforts to win back customers, executives say.The Wall Street Journal - Business -
Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint
KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.CNBC - Business -
Coca-Cola beats first-quarter earnings estimates, raises annual revenue outlook
Coca-Cola Co. reported better-than-expected first-quarter results before market open Tuesday, boosted by what the beverage giant described as “a dynamic backdrop.”MarketWatch - Business -
Taco Bell parent Yum Brands’ stock slides on first-quarter earnings and revenue miss
Yum Brands’ CEO David Gibbs described “a difficult operating environment” during the first quarter.MarketWatch - Business -
Starbucks gets a price target cut after a brutal quarterly miss and light guidance
Starbucks is dealing with too many headwinds right now. This is a decline we do not have plans of immediately buying.CNBC - Business -
Qantas blunder lets customers view strangers' data
The airline has apologised after users of its app were mistakenly given access to personal details.BBC News - Top stories -
DBS Earnings Beat Expectations
Singapore’s biggest bank by assets said its first-quarter net profit rose on higher fee and commission income, and expects to deliver strong shareholder returns this yearThe Wall Street Journal - World -
The Guardian view on the women of Iran: still resisting repression | Editorial
The regime wants to crush resistance. But those it rules continue to push back against its brutality. The protests that exploded across Iran following Mahsa Amini’s death in custody in September 2022 were a turning point. The young Iranian-Kurdish ...The Guardian - World -
Most Americans View TikTok as a Chinese Influence Tool, Poll Shows
AReuters/Ipsos survey shows huge support for the idea that the social media platform is being used to shape U.S. public opinion.Inc. - Business - Tiktok -
The Guardian view on the cost of a cashless society: the most vulnerable will pay | Editorial
The pandemic accelerated the shift away from notes and coins. But China and others are realising that transition has a price. One of the idiosyncrasies of China’s huge appetite for luxury goods has been the high sales of man bags – a niche item in ...The Guardian - World -
Clariant Confirms Outlook as Profits Rise
Clariant reiterated its full-year outlook after it reported an improved earnings margin in the first quarter, helped by lower raw material prices and a strong performance at its aviation business.The Wall Street Journal - Business -
Haleon Keeps Outlook as Profits Rise
Haleon reported a 2% rise in underlying profits for the first quarter despite lower revenue, and maintained its full-year guidance and buyback plan.The Wall Street Journal - World -
Microsoft Earnings Jump on AI Demand
Microsoft’s revenue and profit rose last quarter as artificial intelligence bolstered demand for its software and cloud services.The Wall Street Journal - Tech - Microsoft -
Embiid misses G5 shootaround with migraine
Philadelphia 76ers center Joel Embiid and forward Kelly Oubre Jr. missed shootaround Tuesday morning ahead of Game 5 of their first-round playoff series against the New York Knicks.ESPN - Sports -
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To fend off tourists, a town in Japan is building a big screen blocking the view of Mount Fuji
A town in Japan is building a large black screen to block the view of the country’s iconic Mount Fuji, in an effort to fend off misbehaving foreign tourists.NBC News - Top stories -
Volkswagen Hit by Drop in Car Sales But Confirms Outlook
Volkswagen posted lower sales revenue and profit margins in the first quarter on fewer vehicle sales and higher costs, but backed its full-year outlook.The Wall Street Journal - Business -
OMV Profit Tops Hopes, Keeps Outlook
OMV reported first-quarter profits ahead of forecasts despite revenue falling on lower gas prices, and backed its full-year production guidance.The Wall Street Journal - Business -
AMD boosts its outlook for AI revenue, but stock still falls
AMD lifted its outlook for its MI300 AI accelerator product, which is now expected to drive upwards of $4 billion in revenue this year.MarketWatch - Business -
Adidas Maintains Outlook as First Quarter Tops Forecasts
Adidas posted above-forecast profits for the first quarter, citing brand momentum, and confirmed its recently-lifted outlook for the year.The Wall Street Journal - Business -
Metals Fall Ahead of Fed Policy Decision
Metal prices traded lower, with gold falling back below $2,300, as traders further temper expectations on the timing of U.S. interest-rate cuts this year.The Wall Street Journal - World - Federal Reserve -
Colombia to cut diplomatic ties with Israel
Colombian President Gustavo Petro said Wednesday he plans to sever diplomatic ties with Israel over the Middle Eastern country’s conduct in its war against Hamas in Gaza. Speaking at a May Day rally in Bogotá’s central Plaza de Bolívar, Petro ...The Hill - Politics - Israel -
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Don't hold out for rate cuts
Presented by BP — The Fed may not cut until November. {beacon} View Online Business & Economy Business & Economy PRESENTED BY The Big Story High interest rates aren't going anywhere The central bank doesn't expect to cut rates anytime soon as ...The Hill - Politics -
Vinicius' double earns Real draw with Bayern
Vinicius Junior scores twice as Real Madrid come away with a draw in the first leg of their Champions League semi-final tie with Bayern Munich.BBC News - Top stories -
USMNT's Dest to miss Copa América with torn ACL
United States defender Sergiño Dest has confirmed he has torn his ACL and is facing a lengthy period out of action, ruling him out of the Copa América in the summer.ESPN - Sports -
Premier League misses fifth Champions League spot
The Premier League misses out on a fifth Champions League spot next season.BBC News - Top stories - UEFA Champions League -
Analysis: The Fed's No-Need-to-Cut Camp Is Feeling Emboldened
A third month of disappointing inflation data dashed the prospect of the Federal Reserve setting the stage today for a summer rate cut.The Wall Street Journal - World -
The Fed's Case for Rate Cuts Simply Does Not Exist
Every new data dump proves inflation isn't going anywhere fast.Inc. - Business -
Analysis: Fed's No-Need-to-Cut Camp Is Feeling Emboldened
A third month of disappointing inflation data dashed the prospect of the Federal Reserve setting the stage for a summer rate cut.The Wall Street Journal - World -
Stocks Turn Higher After Powell Comments
Stocks were turning higher following the Federal Reserve’s widely expected decision to keep rates steady.The Wall Street Journal - World -
Aston Martin Outlook on Track, New Cars to Boost Growth
Aston Martin losses grew in the first quarter on lower revenue, but said it expected the launch of four new models this year would drive growth in the second half.The Wall Street Journal - World -
GSK raises profit outlook on strong vaccine and HIV drug sales
Quarterly results beat expectations and signal strong start for pharma groupFinancial Times - Business -
Why Super Micro’s stock is falling despite an upbeat growth outlook
One analyst’s price target implies 60% further downside, in part due to margin concerns, as AI competition heats up.MarketWatch - Business -
Aston Martin Outlook on Track, New Cars to Boost Growth
Aston Martin losses grew in the first quarter on lower revenue, but said it expected the launch of four new models this year would drive growth in the second half.The Wall Street Journal - Business