Profit Smashes Expectations
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Nissan Expects Drop in Annual Profit
The carmaker projected a drop in fiscal-year net profit, citing heightened competition and high inflation, after it posted lower quarterly net profit.The Wall Street Journal - World -
Nissan Expects Drop in Annual Profit
The carmaker projected a drop in fiscal-year net profit, citing heightened competition and high inflation, after it posted lower quarterly net profit.The Wall Street Journal - Business -
Home builders’ stocks have soared since we said they were cheap. These five are expected to grow profits rapidly through 2025.
Demand for new homes has been strong, despite high mortgage-loan rates.MarketWatch - Business -
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Reddit Records Bigger-Than-Expected Jump in Users
Daily active users for the social-media company rose 37% to 82.7 million. The company posted higher revenue and a wider loss for the first quarter, hit by IPO-related costs.The Wall Street Journal - World -
Interest rates expected to stay at 16-year high
The Bank of England will decide interest rates later, but is not expected to cut them until the summer.BBC News - Top stories -
China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts.CNBC - Business - China -
Bank of England holds interest rates at 5.25%
The governor of the Bank says it needs to "see more evidence" of falling inflation before cutting the base rate.BBC News - Top stories -
Airbnb beats earnings expectations for first quarter but offers weaker-than-expected guidance
Airbnb reported first-quarter results on Wednesday that beat analysts' estimates.CNBC - Business -
Reddit Stock Surges After Active Users Jump More Than Expected
Reddit posted higher revenue and a wider loss for the first quarter, as IPO-related costs weighed heavily on the social-media company.The Wall Street Journal - World -
Biden campaigning in Wisconsin, expected to announce expansion of Microsoft facility
President Biden is hitting the campaign trail in Wisconsin Wednesday, where he's expected to tout his Investing in America agenda and announce the expansion of a Microsoft Data Center in the state. CBS News campaign reporter Aaron Navarro has more.CBS News - Top stories - Joe Biden -
Arm crushes earnings expectations, but stock falls as forecast lacks wow factor
After a sharp run for Arm shares recently, they looked set to give back some of their gains after Wednesday afternoon’s earnings report.MarketWatch - Business -
Airbnb expects a stronger summer quarter, spurred by Olympics, but shares fall
Online vacation-rental platform Airbnb Inc. on Wednesday forecast second-quarter sales that were below Wall Street’s expectations, largely due to Easter falling in March this year, but the company said big events abroad like the Summer Olympics in ...MarketWatch - Business -
Commanders' Jayden Daniels addresses if he expects to start immediately
Washington is about to break an NFL record for different starting quarterbacksCBS Sports - Sports -
Malaysia Central Bank Holds Rates Steady, as Widely Expected
Malaysia’s central bank held its benchmark interest rate unchanged again, extending its policy pause to a year as it keeps a watchful eye on growth and inflation.The Wall Street Journal - World -
U.K. Can Expect Two Rate Cuts This Year, NIESR Says
The Bank of England will likely make its first move in August, despite a weak outlook for economic growth.The Wall Street Journal - World - United Kingdom -
Virgin Galactic’s better-than-expected cash burn a positive sign, says KeyBanc
Virgin Galactic Holdings Inc. gave an update on its closely-monitored cash position when it reported its first-quarter results after the bell Tuesday, with the company’s cash burn, in particular, attracting attention.MarketWatch - Business -
Brutal summer heat expected in US as planet records 11th consecutive warmest month
Earth has just experienced its 11th-hottest month on record -- a preview of the brutal temperatures forecast for the summer, according to scientists.ABC News - Top stories -
Biden says Microsoft's new data center in Wisconsin expected to create thousands of jobs
President Biden highlighted Microsoft's plans to build a new data center during his recent visit to Wisconsin, saying it would be transformative and likely create thousands of jobs. CBS News campaign reporter Aaron Navarro has more.CBS News - Top stories - Joe Biden -
Bank of England expected to wait for more evidence that inflation is under control before rate cut
The Bank of England is expected to maintain interest rates at a 16-year high of 5.25% Thursday, but a cut wouldn’t be a huge surprise as inflation falls from multi-decade highsABC News - World -
Six Flags’ stock dips after theme park operator posts wider-than-expected loss
Six Flags Entertainment Corp.’s stock dipped 0.3% early Thursday, after the theme park operator posted a wider-than-expected first-quarter loss and revenue that lagged estimates.MarketWatch - Business -
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 -
Nexi Shares Climb on Buyback, Profit Beat
The Italian payments company launched its up to $538 million buyback program after underlying earnings rose 9% in the first quarter.The Wall Street Journal - World -
Nexi Shares Climb on Buyback, Profit Beat
The Italian payments company launched its up to $538 million buyback program after underlying earnings rose 9% in the first quarter.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 - Business -
Intel said its revenue for the current quarter would be lower than expected amid new restrictions on sales by chip makers to Huawei.
Intel said its revenue for the current quarter would be lower than expected amid new restrictions on sales by chip makers to Huawei.The Wall Street Journal - World -
New York Times stock gains as adjusted profit rises by 41%
Digital subscriptions rise by 210,000 in a ’strong start’ for the year.MarketWatch - Business - New York -
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 -
Applebee’s and IHOP parent suffers rare profit miss as consumers remain cautious
Stock falls premarket as same-restaurant sales for both Applebee’s and IHOP chains fell more than expected.MarketWatch - Business -
EU reaches deal on using profits from Russia’s frozen assets for Ukraine
10% of the windfall profits will fund non-lethal aid to assuage EU member states that do not wish to fund arms. The EU has reached a deal to seize profits from Russia’s frozen assets to fund weapons and aid for Ukraine within months.. EU senior ...The Guardian - World - Ukraine -
EU agrees to arm Ukraine using profits from Russian state assets
Belgium’s central securities depository Euroclear expected to start transferring money to bloc in JulyFinancial Times - Business - Ukraine