Lucid forecasts annual vehicle production below estimates
(Reuters) -Lucid Group forecast annual vehicle production far below analysts’ estimates on Wednesday, on signs that demand for its luxury electric vehicles will slow down as high interest rates pinch consumer budgets.…
Stryker forecasts strong 2024 as uptick in surgeries lift demand for devices
(Reuters) – Stryker Corp forecast 2024 profit above Wall Street estimates on Tuesday, banking on a post-pandemic pick-up in volume for certain surgical procedures at hospitals to drive sales for its medical…
Whirlpool shares slip after weaker-than-expected annual forecasts
(Reuters) – Whirlpool forecast full-year sales and profit below analysts’ estimates on Monday, as the home appliance maker navigates pricing pressure from rivals and higher expenses, sending its shares down about 4%…
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…
Hot sauce maker McCormick forecasts weak 2024 on falling sales volumes
(Reuters) – McCormick on Thursday forecast its annual sales and profit below Wall Street estimates, hit by lower sales volumes as consumers traded down to cheaper private label alternatives for spices and…
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…
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…
Egypt economic growth forecasts lowered as Gaza crisis flares: Reuters poll
By Patrick Werr CAIRO (Reuters) – Egyptian economic growth will be slower than previously expected as its pound weakens, inflation cuts into purchasing power and fallout from the Gaza crisis eats into…
Comerica forecasts weak interest income as deposit costs rise, loan growth slows
(Reuters) – Comerica on Friday forecast an 11% drop in its net interest income (NII) in 2024, as it pays more interest on deposits to keep customers from moving to other options,…
More junk-rated US companies to default in Q1, Moody’s forecasts
By Matt Tracy (Reuters) – Defaults by U.S. companies with low junk credit ratings are likely to rise further in the first quarter of 2024, according to a Thursday report by credit…
Fed debated in 2018 whether to accelerate updates of economic forecasts
By Michael S. Derby NEW YORK (Reuters) – While it never came to pass, some of the Federal Reserve’s most prominent officials said at the end of 2018 that they saw value…
M&S claims Christmas crown as food and clothing sales beat forecasts
By Paul Sandle LONDON (Reuters) -British retailer Marks & Spencer on Thursday reported a better-than-expected 8.1% rise in sales over the Christmas trading period, driven by market-leading growth in food and a…
Fitch no longer expects a US recession, forecasts three rate cuts
NEW YORK (Reuters) – Credit rating agency Fitch no longer forecasts a U.S. recession this year due to several signs of strength in the economy, Fitch Ratings’ Chief Economist Brian Coulton said…
World Bank forecasts 2024 global growth to slow for third consecutive year
By David Lawder WASHINGTON (Reuters) – The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating…
Taiwan Dec exports beat forecasts as demand from US surges, slips from China
By Liang-sa Loh and Faith Hung TAIPEI (Reuters) – Taiwan’s exports rose more than expected in December on stronger demand for high-tech products from the United States, but the recovery is expected…
Microchip Technology forecasts further drop in third-quarter revenue
(Reuters) – Microchip Technology on Monday forecast a further drop in its third-quarter revenue, citing lower shipment levels and a weak economy. Shares of the company fell 4.1% in trading after the…
Huawei forecasts 9% revenue growth in 2023 as smartphones surge
BEIJING (Reuters) – Chinese tech giant Huawei Technologies expects to report revenue exceeding 700 billion yuan ($98.5 billion) for 2023, according to comments from rotating chairman Ken Hu in an internal new…
Anthropic forecasts more than $850 million in annualized revenue rate by 2024-end – report
(Reuters) – Artificial intelligence startup Anthropic has projected it will generate more than $850 million in annualized revenue by the end of 2024, the Information reported on Tuesday, citing two people with…
DIW institute lowers German GDP forecasts after budget cuts
BERLIN (Reuters) – Germany’s DIW economic institute revised down its growth forecasts for the next two years on Thursday, expecting only a slow recovery from recession for Europe’s largest economy after Berlin…
Refiner Phillips 66 forecasts lower spending in 2024
(Reuters) – U.S. refiner Phillips 66 forecast lower spending in 2024 on Friday, days after Elliott Investment Management sought a revamp of its board to boost lagging performance. In November, the activist…
Canadian dollar forecasts turn less bullish as BoC rate cuts eyed: Reuters poll
By Fergal Smith TORONTO (Reuters) – Analysts see less upside for the Canadian dollar than previously thought over the coming year as recent data showing a slowdown in the domestic economy brings…
Canada’s oil province Alberta forecasts increased C$5.5 billion budget surplus
(Reuters) – Canada’s main oil-producing province Alberta on Thursday forecast an increased surplus of C$5.5 billion ($4.06 billion) for the 2023/24 fiscal year, fuelled by strong bitumen royalties and higher income tax…
Ulta Beauty raises annual forecasts, longtime CFO Settersten to retire
(Reuters) – Ulta Beauty on Thursday raised the lower end of its full-year profit and sales forecasts helped by buoyant demand for luxury skincare and fragrances and also said its longtime CFO…
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…
Barclays forecasts Fed to stand pat on rates in January
By Subhadeep Chakravarty (Reuters) -Barclays said on Wednesday it no longer expects the U.S. Federal Reserve to raise interest rates in January, compared with an earlier forecast of a 25-basis-point hike. Rates…
HP forecasts downbeat first-quarter profit amid slow PC market recovery
By Samrhitha A (Reuters) -HP Inc on Tuesday forecast first-quarter profit below Wall Street estimates but maintained annual earnings outlook, a sign that demand in the personal computers market is still recovering,…
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