Author: iHub News
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US Futures Flat, European Stocks Rise
In the U.S., futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 rose 0.2% in morning trading. Electrolux Series B rose 6.8% and Persimmon PLC climbed 5.4%. On the other…
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HSBC Profits Surge, First Republic Sold to JPMorgan
HSBC Profit Surges in First Quarter on Interest Income, Accounting Gains The bank announced its first quarterly dividend since 2019. BP Profit Slows, but Beats Views BP reported a first quarter underlying replacement cost profit of almost $5 billion, and said it planned to launch an additional $1.8 billion share buyback. First Republic Bank Is…
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U.S. Stocks Finish Choppy Trading Session Slightly Lower
Following the notable advance seen to close out the previous week, stocks showed a lack of direction throughout much of the trading session on Friday. The major averages spent the day bouncing back and forth across the unchanged line. The major averages eventually ended the session slightly lower. While the Dow dipped 46.46 points or…
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Unemployment Rate Seen Ticking Up to 3.6%
The following are median forecasts for this week’s remaining U.S. data from a survey compiled by The Wall Street Journal. The FOMC statement is scheduled for Wednesday at 2:00 p.m. ET, followed by a press conference with Fed Chairman Jerome Powell at 2:30 p.m. ET. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS (ET) Tuesday 1000 Job…
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JPMorgan Bids To Buy First Republic, Arm Files For IPO
JPMorgan, PNC Submit Bids to Buy First Republic in Government-Led Sale The FDIC is expected to name a winning bidder before First Republic opens Monday morning. Astellas Pharma to Buy Iveric Bio The Japanese drugmaker said it agreed to acquire Iveric bio for about $5.9 billion to strengthen its capabilities in the ophthalmology field. SoftBank’s…
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U.S. Stocks Move Mostly Higher Following Early Volatility, FOMC Next Week
After initially showing a lack of direction, stocks moved mostly higher over the course of the trading session on Friday. The major averages extended Thursday’s rally, with the Nasdaq reaching a seven-month closing high, while the Dow and the S&P 500 reached their best closing levels in over two months. The major averages saw further…
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Negative Reaction To Amazon Results May Weigh On Wall Street
The major U.S. index futures are currently pointing to a lower open on Friday, with stocks likely to give back ground following the rally seen in the previous session. A negative reaction to quarterly results from Amazon (NASDAQ:AMZN) may weigh on Wall Street, as the online retail giant is slumping by 2.2 percent in pre-market…
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Intel Records Its Worst Quarterly Loss, Snapchat’s Sales Drop
Mercedes-Benz Profit Boosted by Top-End Models, Pricing Mercedes-Benz posted underlying earnings of EUR5.5 billion for the year, in line with preliminary figures released last week, and maintained its overall guidance for 2023. Remy Cointreau Sees Flat Sales Growth Remy Cointreau said it expected a sharp sales decline in the first half of fiscal 2024, due…
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US Futures Slip, European Stocks Largely Rise
In the U.S., futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average declined 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 rose 0.2% in morning trading. Holmen Series B climbed 7.6% and GN Store Nord rose 7.4%.…
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Amazon beats sales expectations, Snap falls 20% on revenue miss
Amazon Sees Surging Growth After Postpandemic Slowdown The company’s first-quarter sales increased by 9% year-over-year to $127.4 billion, beating Wall Street projections. It posted $3.2 billion in quarterly profit, almost 50% higher than analysts expected. Intel Suffers Largest-Ever Loss Amid PC Slump, Fierce Competition The chip maker has embarked on cutting costs while pursuing a…