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Apple Sees Third Straight Quarter of Falling Sales, Amazon Delivers Surprisingly Strong Profit
Wells Fargo, SocGen to Settle With SEC, CFTC Over Use of Messaging Apps Truist Financial also disclosed this week that some of its subsidiaries have received requests for information from regulators related to compliance with record-keeping requirements. Apple Sees Third Straight Quarter of Falling Sales, but Services Unit Hits Record Sales of iPhones missed analyst…
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Apple Sees Drop In Demand For Smartphones In Its Fiscal Third Quarter
Apple (NASDAQ:AAPL) has been able to boost its revenue from services, including advertising, payments, video streaming and cloud storage, in a long-standing strategy to offset slumping demand for smartphones. But the advance in services was not enough to cushion the global retreat in sales of smartphones, which collaborated with the drop in the company’s revenue…
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Amazon Expands Revenue And Has Higher-Than-Expected Q2 Profit
Amazon (NASDAQ:AMZN) reported net income of US$ 6.75 billion and earnings per share of US$ 0.65 in the second quarter of 2023. The result was above the forecast of analysts consulted by Factset, of earnings per share of US$ 0.35 . In the second quarter of 2022, the company lost $2 billion, or $0.20 per…
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U.S. Stocks Close Modestly Lower Ahead Of Jobs Report
After an early move to the downside, stocks fluctuated over the course of the trading session on Thursday. The major averages bounced back and forth across the unchanged line before closing modestly lower. The Dow slipped 66.63 points or 0.2 percent to 35,215.89, the Nasdaq edged down 13.73 points or 0.1 percent to 13,959.72 and…
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Crypto This Thursday: Shiba Inu Strengthens Digital Identity, Upbit Dominates July Trading, and More
Tether generates surprising profits and doubts Tether (COIN:USDTUSD) reported profits of over $1 billion in its latest quarterly attestation, which seems surprising for a company with only around 60 employees. The company holds a large amount of US Treasuries, which may explain its profitability. However, the lack of real money on its balance sheet is concerning and…
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Futures Pointing To Continued Weakness On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Thursday, with stocks likely to extend the sell-off seen in the previous session. Concerns about U.S. debt may continue to weigh on Wall Street after credit rating agency Fitch Ratings unexpectedly downgraded the United States’ credit rating. Fitch downgraded the…
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Thursday’s Wall Street Highlights: Anheuser-Busch InBev, Apple, Hasbro, Sunrun and more
US index futures are lower on Thursday as Fitch’s credit rating downgrade is still reverberating through markets, with investors cautious amid global economic and political uncertainties. The market watches economic indicators in Europe, corporate results and the interest rate decision in England. By 7:00 AM, Dow Jones futures (DOWI:DJI) were down 55 points, or 0.16%. S&P 500…
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North American Morning Briefing: Stocks Face Fresh Losses; Apple, Amazon Earnings Eyed
Market Wraps Watch For: Preliminary Productivity and Costs; ADP National Employment Report; Weekly Jobless Claims; Factory Orders; Canada Official International Reserves; earnings from Amazon.com, Apple, Hasbro, Kellogg, Moderna Today’s Headlines/Must Reads – Bud Light Boycott Sparks Big U.S. Profit Drop for AB InBev – Fitch Downgrade Won’t Break Washington’s Tax, Spending Habits – California Law…
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US Futures, European Stocks Down
In the U.S. futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average decreased 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 0.6% in morning trading. United Internet added 3.9% and Teleperformance rose 3.6%. On the other…
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Top Company News of the Day: AB InBev, Lufthansa, Adidas, Société Générale
AB InBev Earnings Beat Hopes Despite Drop in US Volumes Anheuser-Busch InBev reported normalized earnings of $4.9 billion, slightly above forecast, as organic revenue grew 7.2%, and despite a steep drop in North America volumes. Lufthansa Profits Boosted by Air Travel Demand Lufthansa’s second-quarter adjusted earnings almost tripled to EUR1.1 billion on a 17% rise…