Category: Latest News
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North American Morning Briefing: Microsoft Rally Lifts Nasdaq
Market Wraps Watch For: Durable Goods Orders for March; Advance Economic Indicators Report for March; EIA Weekly Petroleum Status Report; Bank of Canada summer of monetary policy deliberations; Goldman Sach annual shareholders meeting; Earnings from Boeing, Meta Platforms, Mattel Opening Call: Stock futures rose Wednesday as a surge in Microsoft shares boosted broader market sentiment.…
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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…
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Glencore’s Target, Teck Resources Misses Q1 Earnings Expectations
Canada’s largest mining company, Teck Resources, reported weaker-than-expected first-quarter results on Wednesday due to lower product prices, weak copper and zinc sales and higher costs. The company is also a known acquisition target for Swiss raw materials giant Glencore (LSE:GLEN). Teck (NYSE:TECK) reported adjusted earnings per share of C$1.81 for the three months ended March…
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US Futures Rise, European Stocks Decline
In the U.S., futures for the S&P 500 were up 0.4% and futures for the Dow Jones Industrial Average climbed 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 dropped 0.5% in morning trading. Kindred Group SDR rose 9% and Temenos added 8%. On the…
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News Highlights: Top Company News of the Day
Standard Chartered’s Profit Rises on Jump in Interest Income The Asia-focused bank said first-quarter net profit rose 10%, driven by sharply higher interest income as global central banks continued to raise interest rates. Roche Sales Hit by Lower Covid Test Demand Roche backed its outlook for the year despite posting lower first-quarter revenue of EUR15.3…
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Crypto this Tuesday: Visa Has Ambitious Crypto Projects, Google Launches Accelerator for Blockchain Companies, and More
Coinbase sues SEC after months of silence from federal regulator Cryptocurrency exchange Coinbase (NASDAQ:COIN) filed a lawsuit against the Securities and Exchange Commission on Monday, asking that the regulator be forced to publicly share its response to a months-old petition about whether to allow the cryptocurrency industry to be regulated using existing SEC structures. “Coinbase does not treat…
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Troubling First Republic Results May Weigh On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to move to the downside after ending the previous session narrowly mixed. Negative sentiment may be generated in reaction to quarterly results from First Republic (FRC), with the regional bank plunging by 21.4 percent in pre-market…
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Tuesday’s Wall Street Highlights: First Republic, UPS, McDonald’s, GM and more
Main subjects of the day US stock futures fell on Tuesday as traders await the week’s earnings from major tech companies as well as new economic data, and watch for bad news from regional banks. By 8:20 AM, Dow Jones futures (DOWI:DJI) were down 68 points, or 0.20%. S&P 500 futures (SPI:SP500) and Nasdaq-100 futures (NASDAQI:COMP) were down 0.37% and 0.33%,…