Category: Market Summary

Philips (NYSE:PHG) – In the third quarter, Philips recorded €4.4 billion in sales, a 2% annual decline, though net income doubled to €181 million, and diluted earnings per share rose from €0.09 to €0.19. Adjusted EBITA increased to €516 million, up from €456 million the previous year, reflecting higher margins and a focus on productivity.…

After ending Thursday’s session on opposite sides of the unchanged line, the major U.S. stock indexes turned in another mixed performance during trading on Friday. While the tech-heavy Nasdaq added to yesterday’s strong gain, the Dow extended its losing streak to five sessions. The Nasdaq reached a new record intraday high in early trading but…

Tapestry (NYSE:TPR), Capri (NYSE:CPRI) – A U.S. judge blocked the $8.5 billion merger between Tapestry and Capri, favoring the Federal Trade Commission (FTC) and marking a win for the Biden administration before the elections. The FTC argued the merger would reduce competition among top U.S. handbag makers, raising prices. Tapestry’s shares rose 12.4% pre-market, while…

Following the steep drop seen during Wednesday’s session, the major U.S. stock indexes turned in a mixed performance during trading on Thursday. The Nasdaq and the S&P 500 regained ground, but the narrower Dow saw further downside to close lower for the fourth straight day. The major averages finished the day on opposite sides of…

Tesla (NASDAQ:TSLA) – The electric vehicle manufacturer reported earnings per share of $0.72, exceeding the estimated $0.58. Revenue was $25.18 billion, slightly below the expected $25.37 billion. Net income increased to $2.17 billion. Automotive revenue grew 2%, while energy generation surged 52%. CEO Elon Musk announced plans to launch autonomous transport services in California and…

Stocks came under pressure early in the session on Wednesday and saw further downside over the course of the trading day. The major averages all moved notably lower, with the Dow and the S&P 500 extending their losing streaks to three days. The major averages climbed off their worst levels late in the session but…

McDonald’s (NYSE:MCD) – A U.S. investigation into an E. coli outbreak focuses on McDonald’s Quarter Pounder hamburgers. The company has suspended the use of fresh onions and beef patties in certain states. Health authorities are working to identify the contaminated ingredient. Arm Holdings (NASDAQ:ARM), Qualcomm (NASDAQ:QCOM) – Arm canceled its licensing agreement with Qualcomm, which…

After coming under pressure early in the session, stocks regained ground over the course of the trading day on Tuesday. The major averages climbed well off their worst levels of the day before ending the day little changed. The major averages moved to the downside going into the close, finishing narrowly mixed. While the Nasdaq…

HSBC Holdings (NYSE:HSBC) – HSBC is undergoing a major restructuring under new CEO Georges Elhedery, focusing on cost-cutting and simplification. The merger of commercial and institutional banking operations will be overseen by Michael Roberts. Additionally, Pam Kaur has been appointed as the bank’s first female CFO, while regional changes create new autonomous units in the…

Following recent strength on Wall Street, the major U.S. stock indexes turned in a mixed performance during trading on Monday. While the Dow showed a notable pullback, the tech-heavy Nasdaq managed to end the day in positive territory. The Dow slid 344.31 points or 0.8 percent to 42,931.60 and the S&P 500 (SPI:SP500) dipped 10.69…