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…
Freshworks tops revenue estimates as lower-priced offerings boost demand
(Reuters) – Freshworks Inc beat quarterly revenue estimates on Tuesday and posted its first adjusted operating profit as more businesses sought its lower-priced customer engagement software in a tough economy. Rising interest…
Sysco Corp misses profit estimates on higher input costs
(Reuters) – U.S. food distributor Sysco Corp missed Wall Street expectations for third-quarter profit on Tuesday, hurt by higher raw material costs and a stronger dollar. Shares of the Texas-based company fell…
Northrop’s quarterly earnings beat estimates on weapon demand
(Reuters) – Northrop Grumman Corp beat first-quarter earnings expectations on Thursday, helped by higher sales of weapons amid heightened geopolitical tensions. Shares of the Virginia-based company were up 1.32% in premarket trading.…
DTE Energy beats profit estimates on lower costs, non-utility gains
(Reuters) – U.S. electric and gas utility firm DTE Energy Co beat estimates for first-quarter profit on Thursday, as lower costs and upbeat performance of a unit that develops energy projects partially…
CenterPoint Energy beats profit estimates on lower operating costs
(Reuters) – CenterPoint Energy Inc beat first-quarter profit expectations on Thursday, as lower operating and maintenance costs outweighed the impact of high interest expenses and mild winter. The electric and gas utility…
Raymond James profit misses estimates as deals drought extends
(Corrects dateline, day in paragraph 1, typo in headline) (Reuters) – Raymond James Financial Inc missed Wall Street estimates for second-quarter profit on Wednesday as a prolonged dealmaking slump weighed on the…
C.H. Robinson misses quarterly estimates on softening freight demand
(Reuters) – C.H. Robinson Worldwide Inc missed Wall Street expectations for quarterly sales and profit on Wednesday, as the logistics company grapples with falling freight demand against the backdrop of an uncertain…
PACCAR overtakes analyst estimates on trucks, aftermarket parts demand
(Reuters) – Truckmaker PACCAR Inc on Tuesday beat first-quarter profit and revenue estimates as demand for its truck models and aftermarket parts remained strong, boosted by customers looking to replace ageing fleets.…
Apple supplier Corning rides on price hikes to beat profit estimates
(Reuters) – Specialty glass maker Corning Inc beat profit estimates for the first quarter on Tuesday as price hikes more than made up for higher raw material costs and a demand slowdown.…
Northern Trust’s first-quarter profit slightly below estimates as fees plunge
(Reuters) – Wealth manager Northern Trust Corp reported lower-than-expected first-quarter profit on Tuesday, as lower asset management fees dragged down gains from higher interest rates. The results come close on the heels…
CSX quarterly results beat estimates on higher freight rates
(Reuters) – U.S. railroad operator CSX Corp posted better-than-expected quarterly profit and revenue on Thursday, as higher shipment rates had helped offset the impact of a 1% drop in volumes. Shares of…
U.S. Bancorp beats profit estimates as higher rates boost interest income
(Reuters) – U.S. Bancorp (USB) on Wednesday beat estimates for first-quarter profit as rapid rate hikes from the Federal Reserve helped the lender earn more from the interest charged on loans. That…
J.B. Hunt misses estimates on weak freight demand and higher maintenance expenses
(Reuters) – J.B. Hunt Transport Services Inc reported lower-than-expected quarterly earnings on Monday, hurt by weak shipping demand, high driver wages and maintenance expenses. Shares of trucking operator fell 2.43% to…
M&T Bank Corp beats profit estimates as interest income doubles
(Reuters) – M&T Bank Corp beat Wall Street estimates for first-quarter profit on Monday, as the U.S. Federal Reserve’s rapid rate hikes to tame high inflation boosted the lender’s interest income. U.S.…
PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income…
Corona beer maker Constellation sees 2024 profit above estimates on price hikes
(Reuters) – Constellation Brands Inc forecast full-year profit above Wall Street estimates on Thursday, benefiting from price increases aimed at combating elevated costs and strong demand for its high-end beer brands. Like…
Dollarama beats sales estimates on strong demand for affordable goods
(Reuters) -Canada’s Dollarama Inc beat quarterly revenue expectations on Wednesday helped by strong demand for affordable everyday goods and seasonal products such as home decor items during the holiday season. Higher prices…
McCormick beats quarterly estimates on higher prices, reiterates outlook
(Reuters) – McCormick & Co Inc beat first-quarter sales and profit expectations on Tuesday as the Cholula sauce maker benefited from multiple prices increases. Shares of the company, which reiterated 2023 sales…
Brown-Forman misses quarterly profit estimates as costs weigh
(Reuters) – Brown-Forman Corp missed Wall Street expectations for third-quarter profit on Wednesday, as the Jack Daniel’s whiskey maker struggled to keep a tight lid on costs. Spirit makers such as Brown-Forman…
Green Thumb beats quarterly revenue estimates on adult-use legalization in New Jersey
By Arshreet Singh (Reuters) – U.S. cannabis producer Green Thumb Industries Inc beat fourth-quarter revenue estimates on Tuesday, on the back of legalization of adult-use in New Jersey, but price compression caused…
Baidu beats fourth-quarter revenue estimates, flags chatbot launch
(Reuters) – China’s Baidu Inc beat revenue estimates for the fourth quarter on Wednesday, bolstered by strength in its advertising, cloud and artificial intelligence businesses, sending its U.S.-listed shares up 7% in…
CoStar ends talks to buy Move Inc, posts weak profit forecast
(Reuters) -CoStar Group said on Tuesday it was no longer in talks to buy Realtor.com owner Move Inc from News Corp and forecast disappointing first-quarter revenue that sent its shares down 15%…
South Korea defence paper calls North ‘enemy’, estimates plutonium stockpile at 70 kg
By Hyonhee Shin SEOUL (Reuters) – South Korea released its latest defence white paper on Thursday, describing North Korea as its “enemy” for the first time in six years and reporting an…
Leidos Holdings sees 2023 profit below estimates as supply chain woes persist
(Reuters) – U.S. defense contractor Leidos Holdings Inc forecast lower-than-expected 2023 profit as the industry struggles with labor shortages, higher costs and lingering supply chain bottlenecks. The Reston, Virginia-based company expects 2023…
Newell Brands CEO Saligram to retire; forecasts 2023 results below estimates
(Reuters) – Newell Brands Inc said its top boss Ravi Saligram will retire effective May 16 and forecast annual results below analysts’ estimates, sending the Sharpie maker’s shares down 11% in premarket…
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