Author: Bruno T
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AT&T Raises Annual Free Cash Flow Target and Exceeds Subscriber Addition Estimates
The mobile telecommunications operator AT&T (NYSE:T) raised its annual free cash flow forecast on Thursday as its quarterly subscriber additions exceeded estimates due to promotions and phone upgrades. The company said it expects full-year free cash flow of around $16.5 billion, up from the previous forecast of $16 billion or more. Its value of $5.2…
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Third Quarter Results from Nokia Decline, Cutting Up to 14,000 Jobs; Stock Falls
Nokia Corp’s (NYSE:NOK) shares were losing about 4 percent in morning trading in Helsinki, as well as approximately 3 percent in pre-market activity on the NYSE, after the leading Finnish telecommunications company reported a sharp drop in its third-quarter profit and revenue on Thursday amid ongoing macroeconomic challenges. Additionally, the company maintained its financial outlook…
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TSMC’s Third-Quarter Profit Falls 24.9%, Exceeds Market Expectations
Taiwanese chipmaker TSMC (NYSE:TSM) reported a 24.9% drop in third-quarter net profit on Thursday as global economic problems hit demand for chips used in applications ranging from cars to cell phones and servers, coming off a high base last year. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a key supplier…
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Top 5 Moving Markets: Powell’s speech, Netflix, Tesla Earnings
1. Powell’s speech in the spotlight Jerome Powell is set to hold the spotlight Thursday, as the Federal Reserve chairman speaks at the Economic Club of New York later in the session, with markets nervous that he may strike a hawkish tone after a series of U.S. data pointed to strength in the economy. Fed policy…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Pre-Market U.S. Stock Movers Netflix Inc (NASDAQ:NFLX) surged about +13% in pre-market trading after the company reported stronger-than-expected Q3 EPS, posted its best subscriber growth in years, and confirmed it would start raising prices. Tesla Inc (NASDAQ:TSLA) slid over -5% in pre-market trading after the Austin-based company reported weaker-than-expected Q3 results. Las Vegas Sands Corp…
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Keep An Eye Out: Pre-Market Movers And Analyst Recommendations
Pre-Market U.S. Stock Movers United Airlines Holdings (NASDAQ:UAL) slid over -4% in pre-market trading after the carrier provided weaker-than-expected Q4 EPS guidance. Floor & Decor Holdings (NYSE:FND) climbed more than +7% in pre-market trading after entering the S&P MidCap 400 index. NVIDIA Corporation (NASDAQ:NVDA) fell over -1% in pre-market trading after Morgan Stanley lowered its…
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Home Builder Confidence Falls to Lowest Since January
In October, homebuilder confidence hit its lowest levels since January, as indicated by a report released on Tuesday. This decline signals that soaring mortgage rates are putting pressure on the optimism of construction firms and affecting potential buyer traffic. The confidence index has now fallen for the third consecutive month, dropping from a revised September…
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U.S. Industrial Output Up 0.3% in September as Auto Strike has Limited Impact
In September, United States industrial production exhibited a 0.3% increase when compared to the previous month, following a period of stability in August (revised data). This information comes from the Federal Reserve, the central bank of North America. In comparison to September 2022, the overall production saw a modest uptick of 0.1%. During September, the…
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September US Retail Sales Rise Faster Than Expected
In September, retail sales in the United States experienced a robust increase of 0.7%, surpassing expectations. This growth was significantly higher than the 0.3% rise anticipated in a Bloomberg survey conducted as of 7:35 am ET. It also followed a revised 0.8% increase from the previous month. When excluding the 1% increase in motor vehicle…
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Vista Outdoor Announces $1.91 Billion Sale of Sporting Products Unit and Slashes Sales Forecast; Stocks plummet 20%
Ammunition manufacturer Vista Outdoor (NYSE:VSTO) announced on Monday its intention to sell its sporting products business in a $1.91 billion transaction and revised its full-year sales projection, causing its premarket shares to plummet by 18%. The sale of the sporting products business, encompassing its firearms and ammunition operations, will be an all-cash deal with Czechoslovak…