Profit Weak Demand Outlook
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Uber Earnings Disappoint Amid High Legal Bills, Weak Rider Demand
The company has racked up bills after long-running legal fights with regulators and cabdrivers.The New York Times - Business -
Shopify shares plunge 19% on weak guidance
The Canadian e-commerce company beat on the top and bottom line, but it gave downbeat guidance for the second quarter.CNBC - Business -
Continental Keeps Guidance Despite Weak First-Quarter
The German car-parts company confirmed both its preliminary figures for the quarter ended March and also backed its full-year outlook, despite posting a net loss of $57 million.The Wall Street Journal - Business -
Shopify Stock on Track for 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 -
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 -
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 on Track for 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 -
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 -
AstraZeneca to withdraw Covid vaccine worldwide, citing a drop in demand
Pharmaceutical giant AstraZeneca on Wednesday said it planned to withdraw its Covid-19 vaccine as demand for it has declined.CNBC - Business - Covid -
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 -
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 -
Exclusive: RunPod secures $20M from Dell and Intel as demand soars for AI clouds
RunPod’s platform attracts over 100,000 developers with focus on iteration speed and ease of use.VentureBeat - Tech -
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 -
EU reaches a tentative deal on Ukraine aid coming from profits of frozen Russian assets
European Union nations have reached a tentative breakthrough deal to provide Ukraine with billions in additional funds for arms and ammunitions coming from the profits raised from frozen Russian central bank assets held in the blocABC News - World - Ukraine -
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