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US Economic Update: Import Prices Rise, Housing Demand Rebounds Sharply
Latest Labor and Commerce Department data reveals an unexpected jump in US import prices and a massive 19% surge in June housing starts. Import prices in the U.S. unexpectedly saw further upside in the month of June, according to a report released by the Labor Department on Friday. The Labor Department said import prices rose…
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IEA warns China’s rare earth export controls could threaten $6.5 trillion in global manufacturing
The International Energy Agency (IEA) has warned that the full implementation of China’s rare earth export restrictions could place approximately $6.5 trillion of industrial production outside China at risk, highlighting the vulnerability of global supply chains for critical minerals. China remains the world’s largest producer of rare earth elements and has continued to tighten oversight…
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Fifth Third shares rise as revenue growth offsets second-quarter earnings miss
Fifth Third Bancorp (NYSE:FITB) reported second-quarter earnings on Friday that came in just below Wall Street expectations, although investors welcomed strong revenue growth, improving credit metrics and continued business momentum. The bank’s shares gained 1.58% in pre-market trading following the results. Diluted earnings per share for the quarter ended June 30 were $0.83, narrowly missing…
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South Plains Financial tops second-quarter forecasts as acquisition boosts growth
South Plains Financial, Inc. (NASDAQ:SPFI) reported second-quarter results on Friday that came in ahead of Wall Street expectations, supported by stronger revenue growth and contributions from its recent acquisition. The company’s shares were unchanged in after-hours trading following the earnings release. Adjusted earnings were $0.96 per share, slightly above the analyst consensus estimate of $0.95.…
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WaFd revenue tops forecasts as earnings come in slightly below expectations
WaFd, Inc. (NASDAQ:WAFD) reported fiscal third-quarter results on Friday, delivering revenue above Wall Street forecasts while earnings per share came in just below analyst expectations. The bank’s shares were little changed in pre-market trading following the announcement. Adjusted earnings were $0.81 per share, narrowly missing the consensus estimate of $0.82. Revenue totaled $205.52 million, exceeding…
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Autoliv shares decline after second-quarter earnings miss despite higher revenue (ALV)
Autoliv Inc. (NYSE:ALV) reported second-quarter results that fell short of profit expectations even as revenue exceeded Wall Street forecasts, with restructuring-related costs weighing on overall earnings. The automotive safety supplier posted adjusted earnings of $2.43 per share, below analysts’ consensus estimate of $2.46. Revenue rose to $2.8 billion, ahead of the expected $2.77 billion and…
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Cohen & Steers exceeds second-quarter forecasts as inflows and assets under management climb (CNS)
Cohen & Steers, Inc. (NYSE:CNS) reported second-quarter results on Friday that came in ahead of Wall Street expectations, supported by strong client inflows and continued growth in assets under management. The company’s shares rose 0.10% in pre-market trading following the earnings release. Adjusted earnings were $0.85 per share, outperforming the analyst consensus forecast of $0.83.…
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Regions Financial tops second-quarter forecasts as profit and lending improve (RF)
Regions Financial Corporation (NYSE:RF) reported second-quarter results on Friday that exceeded Wall Street expectations, supported by higher lending activity, stronger net interest income and record wealth management revenue. The bank’s shares were little changed in pre-market trading following the earnings announcement. Adjusted earnings came in at $0.68 per share, ahead of analysts’ consensus estimate of…
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Investors rotate within AI trade as slowing hyperscaler spending becomes a growing concern
Investors are beginning to rethink their artificial intelligence strategies as concerns grow that the rapid expansion in hyperscaler spending could lose momentum over the next few years, prompting some fund managers to reduce exposure to semiconductor stocks in favour of software companies and major cloud providers. AI infrastructure rally faces fresh scrutiny For much of…
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Chipotle makes its Mexico debut with first restaurant in Monterrey (CMG)
Chipotle (NYSE:CMG) officially entered the Mexican market on Thursday, opening its first restaurant in the country as the U.S. fast-casual chain looks to establish itself in the birthplace of tacos. First location opens in Monterrey The company’s debut restaurant welcomed customers in San Pedro Garza Garcia, an affluent suburb of Monterrey in the northern state…