US consumer sentiment tops estimates in March to hit nearly 3-yr high, UMich says
(Reuters) – U.S. consumer sentiment rose unexpectedly in March to the highest in nearly three years thanks in part to growing confidence that inflation will keep softening. The University of Michigan’s benchmark…
Thermo Fisher forecasts 2024 profit below estimates on biotech demand slump
(Reuters) -Medical equipment maker Thermo Fisher Scientific forecast annual profit and revenue below Wall Street estimates on Wednesday, signaling that a slump in demand for its services used to make therapeutics and…
Food distributor Sysco misses Q2 sales estimates on slowing demand
(Reuters) – Sysco missed Wall Street expectations for its second-quarter sales on Tuesday, as demand for custom meat cuts and high-quality seafood petered out in the face of still-high inflation. With customers…
Water heater maker A. O. Smith quarterly profit beats estimates
(Reuters) – A. O. Smith beat fourth-quarter profit estimates on Tuesday, helped by strong demand for its water heaters in North America. The Milwaukee, Wisconsin-based company also benefited from a shift towards…
PulteGroup misses revenue estimates as home sales slow
(Reuters) – PulteGroup missed Wall Street estimates for fourth-quarter revenue on Tuesday, as it sold fewer homes at lower prices to offset a hit to demand from higher mortgage rates. The 30-year…
Franklin Templeton beats profit estimates on equity, fixed-income strength
(Reuters) – Franklin Resources reported higher-than-expected profit for the first quarter on Monday, thanks to strength in its equity and fixed-income products. Shares of the investment manager, better known as Franklin Templeton,…
Norfolk Southern misses profit estimates, says it took $1.1 billion hit from derailment in 2023
(Reuters) – Norfolk Southern reported fourth-quarter profit below analysts’ estimates on Friday, hurt by lower revenue across the U.S. railroad operator’s merchandise, intermodal and coal businesses, sending its shares down more than…
KLA forecasts third-quarter revenue below Street estimate on weak demand
(Reuters) -Chipmaking tools manufacturer KLA Corp forecast third-quarter revenue below Wall Street estimates on Thursday, signaling sluggish demand in the electronics segment. Shares of the California-based company fell more than 5% in…
American Airlines forecasts 2024 profit largely above estimates
(Reuters) – American Airlines Group forecast 2024 profit largely above Wall Street expectations on Thursday as the carrier benefits from strong demand for international travel. The company expects full-year adjusted earnings per…
STMicro sees Q1 sales well below estimates as auto chip demand softens
By Michal Aleksandrowicz (Reuters) -European chipmaker STMicroelectronics on Thursday forecast a more than 15% drop in first-quarter revenue, well below market expectations, due to softer automotive demand and a further decline in…
Sensor maker TE Connectivity beats profit estimates, forecasts robust Q2 earnings
(Reuters) – TE Connectivity Ltd on Wednesday provided an upbeat forecast for second-quarter profit after reporting a better-than-expected quarterly profit, helped by component demand from electric vehicle makers. Shares of the Switzerland-based…
Oilfield firm Baker Hughes beats profit estimates on international demand, LNG bets
(Reuters) -U.S. oilfield technology firm Baker Hughes beat Wall Street estimates for fourth-quarter profit on Tuesday, powered by strong demand for its services and equipment from LNG producers, as well as offshore…
PACCAR beats quarterly profit, revenue estimates on demand for newer truck models
(Reuters) – PACCAR Inc beat estimates for fourth-quarter profit and revenue estimates on Tuesday, on sustained demand for its fuel-efficient truck models. Shares of the U.S. truck maker were up 1.5% in…
Coatings maker PPG Industries beats fourth-quarter profit estimates
(Reuters) – PPG Industries beat Wall Street estimates for fourth-quarter profit on Thursday, as the industrial coatings maker benefited from increased sales of vehicles as well as strength in its aerospace segment.…
Fastenal beats results estimates on robust demand for onsite products
(Reuters) – Fastenal surpassed fourth-quarter profit and revenue estimates on Thursday, as higher demand from manufacturers for its onsite products boosted sales of its products, such as safety gloves, power tools and…
Constellation Brands misses quarterly sales estimates on tepid wine, spirits demand
(Reuters) – Corona beer maker Constellation Brands’ third-quarter sales fell short of market expectations on Friday, as demand for its higher-priced spirits and wines slowed down in the face of sticky inflation.…
India likely to report higher GDP growth estimates for 2023/24
By Manoj Kumar NEW DELHI (Reuters) – India is likely to project higher economic growth estimates of around 7% for the 2023/24 fiscal year ending in March, compared with earlier government forecasts…
Japan government lifts economic growth estimates
TOKYO (Reuters) – Japan’s government on Thursday slightly raised its economic growth projections for this fiscal year from its previous estimates, as external demand is likely to more than offset weak domestic…
Darden falls short of sales estimates as fine dining takes a backseat
(Reuters) – Olive Garden owner Darden Restaurants on Friday forecast annual same-store sales largely below estimates and missed Wall Street expectations for second-quarter revenue as its fine dining business remained under pressure.…
Jabil’s quarterly profit beats estimates as cost cutting measures takeoff
(Reuters) -Jabil reported core quarterly profit slightly above Wall Street estimates on Thursday, as the electronic components maker turned its focus on cutting costs to navigate weak demand in a tough economy.…
Hormel Foods forecasts full year 2024 profit below estimates as consumers cut back
(Reuters) – Skippy peanut butter maker Hormel Foods forecast fiscal year 2024 profit below estimates on Wednesday as consumers reduce spending on its pricier meat products and ready-to-eat meals as well as…
Intuit beats first-quarter estimates on resilient demand for financial products
(Reuters) – Accounting software-maker Intuit on Tuesday beat Wall Street estimates for first-quarter profit and revenue, on resilient demand for its artificial intelligence infused products that help businesses manage their financial needs.…
Singapore’s Q3 GDP tops initial estimates on financial services, tourism
By Xinghui Kok SINGAPORE (Reuters) -Singapore’s economy grew faster than initial estimates in the third quarter, helped by a resurgence in tourism and service sector activity, although authorities warned of risks to…
AMC beats quarterly revenue estimates on ‘Barbenheimer’ boost
(Reuters) – AMC Entertainment beat third-quarter revenue estimates on Wednesday, riding on the success of “Barbie” and “Oppenheimer” movies as volumes of theatrical releases also improved at the box office. Popular and…
Twilio forecasts fourth-quarter profit above estimates on active customer accounts growth
(Reuters) – Cloud service provider Twilio on Wednesday forecast fourth-quarter profit above Wall Street estimates on an increase in its active customer accounts. The company’s shares rose 8.4% to $60.50 after the…
Casino operator MGM beats third-quarter estimates as China travel rebounds
(Reuters) – MGM Resorts International beat market estimates for third-quarter profit and revenue on Wednesday, as the casino operator benefited from easing pandemic-related entry restrictions in its key markets. The post-pandemic travel…
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