Category: Latest News

American firms posted their most significant earnings beats in over three years during the second quarter, Jefferies reported, with smaller companies poised to outpace their larger counterparts in the upcoming reporting season. Jefferies highlighted that “the difference between actual & consensus earnings growth is 12.3%, the widest spread since 1Q’22.” The firm noted that more…

Goldman Sachs analysts believe that the recent slowdown in U.S. job creation, along with the risk of further downward revisions to employment figures, has likely already nudged the Federal Reserve toward resuming interest rate cuts. In a research note, the bank argued that the labor market will likely appear “mediocre” in the months ahead due…

Ross Stores (NASDAQ:ROST) reported second-quarter results on Thursday that exceeded Wall Street expectations, despite facing tariff-related pressures, and indicated that industry-wide price increases are likely to boost demand among value-conscious consumers this Fall. Shares of Ross Stores climbed 3% in premarket trading Friday. The retailer posted Q2 earnings of $1.56 per share on $5.53 billion…

Intuit (NASDAQ:INTU) reported fourth-quarter earnings and revenue that exceeded Wall Street expectations on Thursday, yet its shares dropped more than 5% in extended trading, amid concerns over slower growth in its Global Business Solutions Group (GBSG) division. The maker of TurboTax and QuickBooks posted Q4 earnings of $2.75 per share, above analysts’ consensus of $2.66.…

Workday (NASDAQ:WDAY) reported quarterly results that exceeded Wall Street estimates for both profit and revenue, yet its shares fell more than 4% in premarket trading Friday after issuing a cautious revenue forecast for the current quarter. The company posted second-quarter earnings of $2.21 per share, surpassing analysts’ expectations of $2.11. Revenue reached $2.35 billion, slightly…

Starbucks (NASDAQ:SBUX) has invited non-binding offers from a select group of potential buyers for a stake in its China operations, with submissions due within the next two weeks, Reuters reported. The shortlist reportedly includes private equity firms Carlyle, EQT, Bain, and KKR, alongside investment companies Hillhouse Capital, Primavera Capital, and tech giant Tencent. Starbucks declined…

Shares of Zoom Video Communications Inc (NASDAQ:ZM) jumped more than 5% in premarket trading Friday following the company’s stronger-than-expected second-quarter results and a boost to its annual earnings guidance. For the quarter ending July 31, Zoom reported adjusted earnings per share of $1.53 on revenue of $1.22 billion, surpassing analysts’ estimates of $1.38 per share…

Shares of Alphabet Inc (NASDAQ:GOOGL) rose over 1% in premarket trading Friday following reports that Meta Platforms (NASDAQ:META) has struck a cloud computing deal with Google valued at more than $10 billion, according to The Information citing sources close to the matter. Under the agreement, Meta will rely on Google Cloud for servers, storage, and…

Meta Platforms Inc (NASDAQ:META) is reportedly hiring a top artificial intelligence executive from Apple Inc (NASDAQ:AAPL) as the company plans to slow overall hiring, according to Bloomberg sources familiar with the matter. Frank Chu, who has previously led Apple AI teams specializing in cloud infrastructure, AI training, and search, is set to join Meta’s Superintelligence…

NVIDIA Corporation (NASDAQ:NVDA) has reportedly instructed some of its suppliers to suspend production of the H20 AI chip designed for the Chinese market, following heightened scrutiny from Chinese authorities, according to The Information. Shares of the semiconductor giant fell 1.2% in premarket trading on Friday at 04:14 ET (08:14 GMT). Earlier this month, Chinese regulators…