Starbucks on Tuesday reported mixed quarterly results and raised its full-year forecast for earnings and revenue. While the company’s earnings topped Wall Street’s expectations, its revenue missed estimates, dragged down by some international markets’ slower recovery. Shares of the company dropped nearly 2% in extended trading. Here’s what the company reported compared with what Wall Street […]
Category: Top News
Demand high as cruises gear up for a restart
In a drizzle covered dock just outside Edinburgh, three Fred Olsen cruise ships are being readied for service. After 14 months of standstill, the paint is being retouched, the chairs re-upholstered and the carpets relayed, ready to set sail this summer. From 17 May cruises will be able to resume from England, and Fred Olsen […]
HSBC forecasts brighter outlook as profits surge
HSBC has reported stronger than expected profits and says the economic outlook is looking brighter. Europe’s biggest bank by assets reported income of $5.8bn (£4.2bn) for the January-to-March period, up from $3.2bn a year earlier. More than half of its profits came from Asia, the region where the bank does much of its business. The […]
The Fed will stay put in 2021 despite growing concerns about overheating economy, CNBC survey says
The Federal Reserve will remain on hold for the rest of this year despite an increasing belief on Wall Street that policymakers should throttle back the stimulus they’re providing to the U.S. economy, according to the latest CNBC Fed Survey. Respondents to the survey forecast the Fed won’t reduce its $120 billion of asset purchases […]
Tesla posts record net income of $438 million, revenue surges by 74%
Tesla reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 3% after hours as investors digested the numbers. Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv: Earnings: 93 cents per share […]
Lyft agrees to sell autonomous-driving unit to Toyota for $550 Million
Lyft Inc. is selling its self-driving division to a unit of Toyota Motor Corp. for $550 million, a move the ride-hailing giant said will help it turn a profit sooner than previously expected. Woven Planet Holdings, a Toyota subsidiary focused on autonomous technology, will pay $200 million up front as part of the deal, Lyft […]
HSBC shares in Hong Kong up 2.7% after pre-tax profit in the first quarter beat expectations
HSBC shares jumped 2.66% after Europe’s largest lender by assets reported first-quarter pre-tax profits that beat estimates but reported revenue was down. Hong Kong-listed HSBC shares traded up 0.44% prior to the earnings release. The London-headquartered bank, which makes most of its revenue in Asia, said its reported profit before tax rose 79% from a year […]
BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks
British energy major BP on Tuesday reported better-than-expected earnings for the first quarter, following a period of stronger commodity prices and a brighter demand outlook. It comes as oil and gas majors seek to prove to investors that they have gained a more stable footing amid the ongoing coronavirus crisis. BP’s first-quarter underlying replacement cost […]
‘What Does The Future Hodl?’—Elon Musk Primes Bitcoin And Crypto For A Tesla Bombshell After Extreme Price Swings
Elon Musk, the meme-happy Telsa billionaire who has helped bitcoin reach a $1 trillion market capitalization this year, continues to tease the cryptocurrency market. The bitcoin price, after doubling through the first three months of the year, has struggled in April—losing over 10% of its value amid multiple warnings the “frothy” cryptocurrency market could be […]
New proposal to lower Medicare age to 50 could be a lifeline to millions
A group of 21 Democratic senators have reintroduced legislation in Congress to lower the qualifying age for Medicare from 65 to 50. “When it comes to providing affordable health care for every American, there is more we must do right now to change the status quo, improve our health care system and lower costs,” said […]
Stock futures calm in anticipation of big earnings week
Futures contracts tied to the major U.S. stock indexes held steady at the start of the overnight session Sunday evening as investors braced for one of the busiest weeks of the first-quarter earnings season. Contracts linked to the S&P 500 fell less than 0.1% while those tied to the Dow slipped 5 points. Nasdaq 100 […]
10-year Treasury yields will break out of slump within weeks, Wells Fargo predicts
The 10-year Treasury Note yield may be on the verge of breaking out of its slump. After stabilizing over the past several weeks, Wells Fargo Securities’ Michael Schumacher predicts the current risk backdrop will re-energize yields in the coming weeks. He lists the Federal Reserve’s high level of comfortableness surrounding rising inflation, the massive amount […]