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…
Equinix projects quarterly revenue below estimates, shares slip
(Reuters) – Equinix forecast third-quarter revenue below market estimates on Wednesday, a sign that demand for data centers was slowing as businesses curtail spending in an uncertain economy. Shares of the company…
Garmin beats quarterly estimates on growth in fitness and auto businesses
(Reuters) – Navigation equipment maker Garmin beat market estimates for second-quarter revenue and profit on Wednesday, thanks to strong growth in its auto and fitness businesses. The company has been leaning on…
BorgWarner’s second-quarter results beat estimates on auto parts demand
(Reuters) – Auto parts supplier BorgWarner reported second-quarter results on Wednesday that beat analysts’ estimates, helped by sustained demand from automakers ramping up output. The Michigan-based company, whose customers include Volkswagen, General…
Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
(Reuters) – Match Group forecast revenue for the third quarter above Wall Street estimates on Tuesday, as the Tinder parent expects stronger marketing to drive user growth, sending its shares up about…
Insurer CNA Financial misses profit estimates on higher catastrophe losses in P&C segment
(Reuters) – Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under…
Keurig Dr Pepper beats sales estimates, posts strong forecast on higher prices
(Reuters) – Keurig Dr Pepper Inc beat Wall Street estimates for quarterly results on Thursday and forecast higher annual sales, as the soda maker benefits from multiple rounds of price hikes that…
Lazard profit beats estimates, sees early signs of recovery in deals
By Manya Saini (Reuters) -Investment bank Lazard’s profit topped Wall Street expectations in the second quarter, and executives said that they were seeing early signs of a prolonged slump in dealmaking bottoming…
Textron beats profit estimates on higher pricing of business jets
(Reuters) – Textron Inc raised its full-year adjusted earnings per share forecast on Thursday, as stronger pricing of business jets and military helicopters continues to offset inflationary costs and drive revenue growth…
Lam Research sales forecast beats estimates on AI boom
By Akash Sriram and Max A. Cherney (Reuters) -Chip-making tools supplier Lam Research forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising…
Raymond James profit misses estimates on decline in deals
(Reuters) – Raymond James missed quarterly profit estimates on Wednesday as Wall Street’s prolonged dealmaking slump impacted its investment banking business, sending its shares down 2% in extended trading. Investment banking revenue…
Liftmaker Otis beats analyst estimates for quarterly profit, revenue
(Reuters) – Liftmaker Otis Worldwide posted second-quarter revenue and profit above analysts’ estimates on Wednesday, fueled by sustained demand for escalators and elevators in residential and commercial projects. The Connecticut-based company’s price…
Loblaw beats revenue estimates on resilient demand for essentials
(Reuters) – Canadian retailer Loblaw on Wednesday beat Wall Street expectations for second-quarter revenue, helped by higher prices and as demand held up for groceries and drugs. The company’s revenue rose 6.9%…
Logitech beats earnings estimates and raises forecast, lifting shares
By John Revill (Reuters) -Logitech International raised its sales and profit outlook for the first half of the financial year 2024 on Tuesday, sending its stock sharply higher. The maker of computer…
PACCAR beats quarterly estimates on strong demand for trucks
(Reuters) – PACCAR Inc beat market estimates for second-quarter profit and sales, helped by strong demand for its trucks and aftermarket parts. A strong freight market and a focus on bolstering logistics…
Dover misses second-quarter estimates as system upgrade disrupts operations
(Reuters) – Dover Corp on Tuesday forecast annual profit largely below Wall Street expectations and missed second-quarter estimates, as manufacturing and shipment disruptions due to a system upgrade hit the company’s vehicle…
Moody’s beats revenue estimates on steady demand for analytics services
(Reuters) – Moody’s Corporation beat Wall Street estimates for second-quarter revenue on Tuesday, helped by steady demand from investors for its data, analytics and research services. Customer demand for the firm’s ‘Know…
PulteGroup results beat estimates on higher new home sales
(Reuters) – PulteGroup Inc beat Wall Street estimates for second-quarter profit and revenue on Tuesday, as strong demand for affordable housing and tight resale inventory boosted new home sales. Existing home-owners locked…
Alaska Air forecasts 2023 revenue growth below estimates
(Reuters) – Alaska Air Group on Tuesday forecast its annual revenue below estimates on early signs of cooling ticket prices, sending its shares down 6.3% in premarket trading. U.S. inflation data in…
Huntington Bancshares beats Q2 profit estimates on interest income strength
(Reuters) -Huntington Bancshares beat Wall Street estimates for second-quarter profit on Friday, as it earned more from rising interest rates and saw strong demand for its commercial loans. Largely positive reports from…
Regions Financial’s quarterly profit meets estimates on net interest income boost
(Reuters) – Regions Financial’s second-quarter profit met Wall Street estimates on Friday, as higher interest income offset the drag from bigger provisions. Lenders have earned more in interest income, thanks to a…
Capital One Financial beats profit estimates on higher interest income
(Reuters) – Consumer lender Capital One Financial reported a second-quarter profit on Thursday that beat analysts’ estimates, helped by higher income from borrowers following a rise in benchmark lending rates. The U.S.…
Marsh McLennan beats Q2 profit estimates on interest income boost
(Reuters) – Marsh McLennan reported second-quarter profit above expectations on Thursday, bolstered by the higher interest the company earned from client funds. The company reported a profit of $2.20 per share, excluding…
Snap-on’s profit beats Street estimates on healthy aftermarket business
(Reuters) – Toolmaker Snap-on Inc beat Wall Street estimates for second-quarter profit on Thursday, powered by healthy demand for its repair tools and equipment from automotive and industrial customers. Snap-on, which caters…
Fifth Third Bancorp tops profit estimates on strong interest income
(Reuters) – Fifth Third Bancorp on Thursday posted a better-than-expected second-quarter profit, as interest rate hikes by the U.S. central bank boosted its interest income. On an adjusted basis, the Ohio-based bank…
Reliance spin-off Jio Financial valued at $20 billion, above estimates
By Chris Thomas and Sethuraman N R BENGALURU (Reuters) -Jio Financial Services (JFS) has been valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees…
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