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News Highlights: Top Company News of the Day
Nokia Profit Falls Short But Confirms Outlook Nokia reported a first-quarter net profit of EUR332 million, missing forecasts, but backed its full-year guidance despite seeing some early signs of the economic environment impacting customer spending. Rio Tinto’s Iron-Ore Exports Hit Record; Cuts Copper Output Estimate UPDATED: Rio Tinto reported record first-quarter iron-ore shipments from its…
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Tesla Earnings Dented by Price Cuts, IBM stock ticks higher on earnings beat
Tesla Earnings Dented by Price Cuts Tesla Inc. (NASDAQ:TSLA) reported a 24% decline in first-quarter profit after a wave of price cuts dented the electric-vehicle maker’s bottom line. IBM stock ticks higher on earnings beat IBM (NYSE:IBM) shares ticked higher in the extended session Wednesday after Big Blue topped earnings estimates. Fox Has Settled One…
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Crypto this Wednesday: a16z defines mysterious tweet, Intel cancels production of Blockscale series and more
Intel will stop producing Bitcoin mining chips A little over a year after Intel (NASDAQ:INTC) announced its entry into the world of producing Bitcoin (COIN:BTCUSD) mining chips, the technology giant revealed that it is giving up on the sector. The company will stop producing its Blockscale series and has no plans to release anything to replace…
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Morgan Stanley’s Profit Declines, Sega Acquires Angry Birds, Merck’s $10.8 Billion Acquisition
US Equities Decline on Mixed Earnings US equity futures declined while bond yields rose on Wednesday as traders analyzed the most recent corporate earnings reports against the background of another high inflation print from one of the world’s major economies. The rates-sensitive Nasdaq 100 (NASDAQI:NDX) fell 0.8%, and the S&P 500 (SPI:SP500) was down 0.6%.…
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Millionaires Flock To New York, England and Wales Insolvency Spike, AT1 Bond Market Rebounds
Millionaires Flock To New York Henley & Partners, an investment company, ranks New York City as home to the largest number of millionaires in the world. The city has around 340,000 millionaires, up 40% from 2012, while Tokyo has slipped to second place. Singapore, with 240,000 millionaires as of 2022, has overtaken Hong Kong in…
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Wednesday’s Wall Street Highlights: Western Alliance, Morgan Stanley, ASML, Tesla and more
Main subjects of the day US stock futures fell on Wednesday as investors digested double-digit inflation in the UK that triggered government bond sales, and the latest batch of quarterly earnings. By 8:39 AM, Dow Jones futures were down 122 points, or -0.36%. S&P 500 and Nasdaq-100 futures fell -0.63% and -0.85%, respectively. Treasury yields soared…
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Futures Pointing To Initial Weakness On Wall Street
US Market The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to move to the downside after ending the previous session narrowly mixed. Ongoing concerns about the outlook for interest rates and the global economy may weigh on the markets to start the session. Negative sentiment may…
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European Midday Briefing: Hot UK Inflation Print Drags on Stocks
Market Wraps Stocks: European stocks were mostly lower on Wednesday as investors focused on another hot U.K. inflation print that will likely support the case for further Bank of England interest rate rises. Annual inflation fell to 10.1% in March from 10.4% in February, but it was above the 9.8% expected by analysts in a…
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US Futures Fall, European Stocks Mostly Down
In the U.S., futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average fell 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.3% in morning trading. Worldline rose 5.4% and THG climbed 3.5%. On the other hand,…
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Netflix’s Mixed Revenue Results, Goldman’s Profit Fall, Tesla Cuts Model Prices Again
Netflix’s Mixed Revenue Results Netflix (NASAQ:NFLX) reported Q1 2023 revenues of $8.16bn, a 4% YoY rise, beating analysts’ estimates, but its Q2 estimate of $8.24bn was less than the $8.47bn expected by Wall Street analysts. The news initially caused a 10% drop in Netflix shares during after-hours trading, but they later recovered. The company also…