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Citigroup earnings top estimates, but stock falls as bank boosts loan loss reserves

The bank's third-quarter report was stronger than Wall Street expected but still showed a year-over-year decline in earnings.
Business - CNBC - October 15
American Airlines lifts 2024 profit forecast after sales strategy shift, posts third-quarter loss

American Airlines raised its profit forecast for the year as CEO Robert Isom said the company's sales strategy shift earlier this year is paying off.
Business - CNBC - October 24
Comcast tops earnings estimates as Olympics propel the company

Comcast beat third-quarter earnings estimates as the Summer Olympics in Paris boosted NBCUniversal’s revenue and Peacock’s subscriber count.
Business - CNBC - October 31
Bank of America tops estimates on better-than-expected trading revenue

Bank of America benefited from its Wall Street trading and banking divisions in the third quarter, just as rival JPMorgan Chase did.
Business - CNBC - October 15
Walgreens says it will close 1,200 stores by 2027, as earnings top estimates

The drugstore chain Walgreens said it plans to close roughly 1,200 stores over the next three years, which includes 500 closures in fiscal 2025 alone.
Business - CNBC - October 15
Coca-Cola tops earnings estimates, as higher prices offset sluggish demand

Shares of Coke have climbed 18% this year, raising the company's market value to nearly $300 billion.
Business - CNBC - October 23
Southwest Airlines profit tops estimates, company expects higher revenue in fourth quarter

Southwest said travel demand remains healthy and it expects unit revenue for the fourth quarter to grow 3.5% to 5.5%.
Business - CNBC - October 24
Biogen’s stock hit by soft sales of Alzheimer’s treatment

“We continue to see momentum with ongoing product launches and we are increasingly excited about the potential of our pipeline,” the company’s CEO said.
Business - MarketWatch - October 30
Bristol Myers’s stock pops as earnings top estimates and company raises guidance

The company says it “made important strides in the third quarter.”
Business - MarketWatch - October 31
Morgan Stanley shares pop 7% after beating estimates for third-quarter profit and revenue

Morgan Stanley has several tail winds in its favor, from high stock values to a rebound in investment banking and strong trading activity.
Business - CNBC - October 16
Pfizer tops earnings estimates, hikes full-year guidance as Covid products help sales

It is a critical quarterly report for Pfizer, which is grappling with activist pressure from Starboard Value.
Business - CNBC - October 29
Biogen tops estimates, raises profit guidance as Alzheimer's drug Leqembi gains traction

Leqembi, along with rare disease and depression treatments, helped offset a year-over-year decline in revenue for the company's multiple sclerosis products.
Business - CNBC - October 30
Samsung falls short of expectations as chipmaker fails to reap AI benefits

Third-quarter operating profit far lower than analyst consensus and trails domestic rival SK Hynix
World - Financial Times - October 31
Donald Trump and the autocrats' playbook

‘This is a man who should be nowhere near power’
World - Financial Times - October 31
UK Labour’s Budget borrows big, taxes more

Chancellor Rachel Reeves announced a £40bn tax increase and a sharp rise in borrowing
World - Financial Times - October 31
Bank of Japan holds rates but signals normalisation still on track

Political uncertainty following election upset raises risks of abrupt policy shifts, warn analysts
World - Financial Times - October 31
FirstFT: US consumers continue to spend, spend, spend

Also in today’s newsletter, North Korea fires its longest-ever test missile, and the activists ready to challenge the election result
World - Financial Times - October 31
Making sense of sentiment

And Trump equity trades
World - Financial Times - October 31
Stellantis hit by sales slide in US and Europe

Fiat, Jeep and Peugeot owner suffers 27% drop in third-quarter sales but signals improvement to US inventory
World - Financial Times - October 31
Merck tops earnings estimates on strong demand for Keytruda, new drugs even as HPV vaccine sales fall

The company saw strong sales from its top-selling cancer drug Keytruda, recently launched treatments and its animal health business.
Business - CNBC - October 31
Bristol Myers Squibb tops earnings estimates and hikes outlook, helped by Eliquis and new drugs

The pharmaceutical giant also raised its full-year revenue forecast to an increase of roughly 5%.
Business - CNBC - October 31
Peloton’s stock soars 30% after company names Apple Fitness+ co-founder as new CEO

Peloton announced the appointment of Peter Stern as new CEO effective Jan. 1. Stern is the co-founder of Apple Fitness+ and has done stints at Ford Motor Co. and Time Warner Cable.
Business - MarketWatch - October 31
Papa John’s stock falls as same-store sales hurt by still-cash-strapped consumer

Pizza chain says it’s still operating in a challenging consumer environment.
Business - MarketWatch - Yesterday
L’Oréal sales disappoint due to weak Chinese demand

Revenue at world’s biggest beauty company grew 3.4 per cent in third quarter, when analysts expected 6 per cent
Business - Financial Times - October 22
Enphase reports weaker quarter, and this time its U.S. business is not the problem

Enphase’s revenue in Europe dropped about 15% quarter-on-quarter as demand softened.
Business - MarketWatch - October 23
EBay’s sales outlook comes in weaker, and stock falls more than 7%

EBay’s slightly better-than-expected quarterly earnings were no match for a weaker sales outlook.
Business - MarketWatch - October 31
ASML share plunge wipes over $50 billion off Dutch chip giant's value

ASML published its third-quarter earnings Tuesday, a day earlier than expected.
Business - CNBC - October 16
Nokia sees improved Q3 profit but reports 8% sales dip mainly due to weaker India market

Wireless and fixed-network equipment maker Nokia has reported better-than-expected third quarter earnings, mainly on the back of cost cutting measures, but saw its sales dive 8% largely due to a ...
Tech - ABC News - October 17
McDonald’s earnings: Weaker demand, E. coli outbreak in focus — but sales seen at highest in years

As McDonald’s readies its third-quarter earnings report Tuesday, Wall Street is focused on demand from lower-income diners, as well as a recent E. coli outbreak.
Business - MarketWatch - October 28
Cowboys trade interest was already risky. With Dak Prescott's injury, their argument is even weaker

Dallas needs to think critically about 2024 investment, because it's now a risky endeavor.
Sports - Yahoo Sports - 3 days ago
Bitcoin surges 10% to a record above $76,000 as Trump victory heralds wider crypto adoption and weaker regulation

Crypto assets rose as investors bet that a second Trump administration will widen fiscal deficits and boost bitcoin as a hedge against higher inflation.
Business - CNBC - Yesterday
Damage Estimates for Helene and Milton Pass $100 Billion

Each hurricane is likely to be a $50 billion disaster, joining the ranks of the most costly U.S. storms.
Business - Inc. - October 17

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