Author: Jae Hur
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3 Issues To Watch Out For This Week: Jackson Hole, Nvidia, China
This week’s attention turns to the annual meeting of the Federal Reserve and other major central banks in Jackson Hole, Wyoming. Investors will scrutinize Fed Chair Jerome Powell’s speech on the 25th for clues about the rate outlook. And although the second quarter earnings season is virtually over, we anticipate Nvidia’s quarterly earnings announcement on…
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3 Issues To Watch For This Week: Fed, Economic Data, Earnings
Investors this week will look to the US Federal Reserve’s (Fed) minutes from last month’s meeting, due to be released on the 16th, for clues about the future outlook for US interest rates. And retail sales data and earnings of major retailers will help spot consumer spending trends in the US, while China’s industrial production…
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Shares plummet as Cheg loses subscribers and disappointing second quarter outlook
Chegg (NYSE:CHGG), a leading US online education platform, reported a decline in the number of subscribers to subscription services in its first-quarter earnings report on Monday, and lowered its second-quarter forecast from analysts’ expectations. The announcement caused the stock to plummet in after-hours trading. “As artificial intelligence technology continues to advance at a rapid pace,…
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Carrier to Acquire Business in Viessmann’s Unit for $13.17 Bln
Carrier Global, a global air conditioner manufacturer, has acquired a division of the Viessmann Group, a German industrial company that makes heating boilers and heat pumps, in a €12 billion ($13.17 billion) cash-and-stock deal. The acquisition is expected to strengthen the carrier’s strategy to capitalize on Europe’s rapid energy transition and provide access to a…
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Stellantis Plans to Cut U.S. Hourly Jobs – Union Letter
Stellantis NV, the parent company of Chrysler, is cutting about 3,500 hourly jobs in the United States and seeking to offer a willing and voluntary exit package, the UAW union said in a letter released Tuesday. The automaker is proposing an incentive package that includes a $50,000 payout to workers hired before 2007 and is…
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LG Display, After 4 Consecutive Quarters Of Loss, Expected To Turn To Profit In H2
LG Display (NYSE:LPL) announced on Wednesday that it will improve its second half performance by upgrading its business structure centered on ‘order-based business’ after four consecutive quarterly losses. LG Display (KOSPI:034220) disclosed that its sales for the first quarter of 2023 were KRW 4.411 trillion (approximately $3.3 billion) and an operating loss of KRW 1.984…
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Chipotle Beats Q1 Earnings on Price Hikes, New Store Openings
Chipotle Mexican Grill Inc. reported first-quarter earnings and revenue on Tuesday to beat Wall Street estimates, buoyed by higher menu prices, the opening of 41 new restaurants and some recovery in consumption by lower-income customers. The announcement sent the stock skyrocketing in after-hours trading. The company said it expects mid- to high-single digit growth in…
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Global Pharmaceutical Giant GSK’s Q1 Results Beat Expectations
Global biopharmaceutical company GSK (LSE:GSK) beat expectations for first-quarter revenue and profit on Wednesday, buoyed by sales of its blockbuster shingles vaccine Shingrix. The London-listed pharmaceutical company reported adjusted earnings of 37 pence per share on sales of around £7 billion ($8.7 billion). The consensus of analysts compiled by the company was expecting 33.2 pence…
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MS jumps in after-hour trade on better-than-expected Q3 earnings
Microsoft (MS) said on Tuesday that its third-quarter revenue and earnings beat Wall Street expectations, driven by growth in its cloud computing and office productivity software businesses. The announcement sent shares higher in after-hours trading. Microsoft reported earnings per share of $2.45. Data from Refinitiv showed that it was above the Wall Street estimate of…
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Enphase Energy’s Q2 Sales Outlook Disappoints, Stock Plummets
US solar company Enphase Energy reported market-beating earnings in the first quarter on strong sales in Europe, but the share price tumbled in after-hours trading on Tuesday as second-quarter sales outlook was expected to be below Wall Street projections. The Fremont, Calif.-based company forecast second-quarter revenue between $700 million and $750 million. That’s below Refinitiv’s…