Monday, Mar 01, 2021 - 04:58:15
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    An employee walks past a quilt displaying Etsy signage at the company's headquarters in Brooklyn, New York.Victor J. Blue | Bloomberg | Getty Images Etsy reported better-than-expected fourth-quarter results after the bell on Thursday, including soaring profits and 129% revenue growth. The stock rose more than 8% in extended trading following the report. Here's how the company did: Earnings: $1.08 per share vs. 59 cents per share expected, according to analysts surveyed by Refinitiv Revenue: $617.4 million vs. $516 million expected, according to analysts surveyed by Refinitiv The e-commerce company said it expects revenue in the current quarter to be between $513 million and $536 million, way ahead of Wall Street's forecast revenue of $383 million. Etsy declined to give guidance for the full year of 2021, citing future macroeconomic conditions tied to the coronavirus pandemic. Etsy, which operates an online marketplace known for handmade and...
    Hershey’s is delivering on growth. February 5, 2021 4 min read This story originally appeared on MarketBeat Hershey’s (NYSE: HSY) became an attractive investment last year when the COVID-driven sell-off resulted in ultra-low prices for this consumer staple. The company was not only well-positioned to weather the storm internal efforts to reposition the portfolio for longer-term sustainable growth were beginning to pay off. Over the past year, the company has finalized three major divestitures that have it in leaner shape, with a healthier balance sheet, and accelerating business. Hershey’s, A Triple-Dip Of Good News Hershey’s reported a very solid quarter despite headwinds related to divestitures and FX. Divestitures and FX resulted in a 0.2% and 0.4% headwind to the topline results with the takeaway being these headwinds are largely behind the company. That said, the $ 2.19 in reported consolidated revenue is 5.8% higher than...
    A Missouri lawmaker sold a ‘potential cure’ for coronavirus. It was a fake stem cell treatment, feds say. 10 Things in Politics: What Sen. Patrick Leahys health scare shows European stocks and U.S. futures rise as earnings lift big corporates © filippo monteforte/Agence France-Presse/Getty Images EUROPE MARKETS Load Error European stocks and U.S. equity futures traded higher on Wednesday, as investors seized on positive results from Amazon and Google parent Alphabet, along with a raft of continental earnings from Siemens, Vodafone and more. The Stoxx Europe 600 index rose 0.8% to 409.30, after a near 1.3% gain on Tuesday, which was the best gain since Jan. 6. The German DAX rose 0.8%, the French CAC 40 gained 0.6%, and the FTSE 100 index added 0.6%. The FTSE MIB Italy index surged more than 2% on hopes former European Central Bank President Mario Draghi may form a new...
    Portland police name suspect in hit-and-run that killed 1 and injured 9 Billions of Brood X cicadas set to emerge simultaneously from underground in mid-May to molt, mate Tesla set to report Q4 earnings after the bell Tesla is expected to report Q4 2020 results and give guidance for the year ahead on Wednesday after the bell. Tesla previously said it had delivered 499,550 vehicles in 2020, falling barely shy of its guidance for half a million vehicle deliveries in 2020. © Provided by CNBC Employees work at the Tesla Gigafactory in Shanghai, east China, Nov. 20, 2020. U.S. electric car company Tesla in 2019 built its first Gigafactory outside the United States in the new Lingang area, with a designed annual production capacity of 500,000 units. Tesla is expected to report 2020 fourth quarter results on Wednesday after the bell, and to offer guidance for the...
    Apple CEO Tim Cook reveals the new iPhone 12.Source Apple is set to report its first quarter earnings after the bell Wednesday. Here's what Wall Street is expecting: EPS: $1.41, according to Refinitiv consensus estimates Revenue: $103.28 billion, according to Refinitiv consensus estimates If Apple hits Wall Street expectations, it will be the company's first $100 billion quarter. It comes after Apple warned investors last February about its financial results in the early days of the pandemic. Analysts are expecting a blow-out quarter driven not just by the first full quarter of 5G iPhone sales, but also strong performance in Mac computers and online services. "We are buyers ahead of what we expect to be a record December quarter print," Morgan Stanley's Katy Huberty said in a note this week. Analysts still see the 5G iPhone results as critical for the company. "We believe Apple's first lineup of...
    California coronavirus: State lifts regional stay-at-home orders Justices Gorsuch and Thomas Wanted to Reconsider Corrupt Democrat’s Conviction. Here’s the Interesting Reason Why. GE earnings: Can record Q4 stock rally be supported by earnings, FCF guidance? © AFP via Getty Images EARNINGS OUTLOOK Load Error General Electric Co. investors will soon get some confirmation on whether the big bet they made on the industrial conglomerate’s stock over the last few months will actually pay off, now and down the road. GE is scheduled to report fourth-quarter results on Tuesday, Jan. 26, before the market opens. One might argue that this quarterly report and management’s outlook for 2021 will be among the most important for investors in years, as it follows a record quarterly rally in the stock. The stock had rocketed 73.4% during the fourth quarter, its biggest-ever gain for a calendar quarter, according to data provided by FactSet,...
    Former Marine arrested in Capitol riot went viral rescuing dogs during 2018 hurricane 3 Endangered Rodrigues Fruit Bat Babies Born at Oregon Zoo: Each New Arrival Is Significant GE earnings: Can Q4 results, FCF guidance support the stock’s record rally? © AFP via Getty Images EARNINGS OUTLOOK Load Error General Electric Co. investors will soon get some confirmation on whether the big bet they made on the industrial conglomerate’s stock over the last few months will actually pay off, now and down the road. GE is scheduled to report fourth-quarter results on Tuesday, Jan. 26, before the market opens. One might argue that this quarterly report and management’s outlook for 2021 will be among the most important for investors in years, as it follows a record quarterly rally in the stock. The stock had rocketed 73.4% during the fourth quarter, its biggest-ever gain for a calendar quarter, according...
    Today in D.C.: Headlines to start your Wednesday in D.C., Maryland and Virginia Coronavirus fails to deter massive Hindu Ganges pilgrimage Investors are looking for some clarity from the upcoming earnings season, but likely wont get it Earnings season is upon us, but traders will be far less interested in fourth quarter results than in first quarter and second quarter guidance. © Provided by CNBC People pass a sign for JPMorgan Chase at it's headquarters in Manhattan, New York City. The problem is it's not clear that CEOs will cooperate. Load Error Banks are strong going into earningsBig banks like JPMorgan Chase kick off earnings season on Friday. One good omen: banks are strong going into earnings season. "This is the first earnings season in recent memory where banks have been leaders going into earnings season," Alec Young from Tactical Alpha told me.  Indeed, the SPDR Bank ETF (KBE), a...
    People pass a sign for JPMorgan Chase at it's headquarters in Manhattan, New York City.Spencer Platt | Getty Images Earnings season is upon us, but traders will be far less interested in fourth quarter results than in first quarter and second quarter guidance. The problem is it's not clear that CEOs will cooperate.Banks are strong going into earningsBig banks like JPMorgan Chase kick off earnings season on Friday. One good omen: banks are strong going into earnings season. "This is the first earnings season in recent memory where banks have been leaders going into earnings season," Alec Young from Tactical Alpha told me.  Indeed, the SPDR Bank ETF (KBE), a basket of large banks, is up 30% since the election, far outperforming the S&P 500. And unlike much of the market, they are not overpriced. "They have a lot of room to move up, they are not expensive," he told me. Why we...
    Patrick Spence, CEO of Sonos. Devan Burris | CNBC Shares of speaker maker Sonos rose as much as 21% in extended trading on Wednesday after the company reported fiscal fourth-quarter earnings and guidance that beat expectations. Here's how the company did: Earnings: 33 cents, excluding certain items, vs. 0 cents as expected by analysts, according to Refinitiv. Revenue: $339.8 million, vs. $298.8 million as expected by analysts, according to Refinitiv. For the upcoming 2021 fiscal year, Sonos projects $1.44 billion to $1.5 billion in revenue, implying 11% to 15% growth, ahead of the $1.38 billion consensus among analysts polled by Refinitiv. In the fiscal fourth quarter, which ended on October 3, Sonos' revenue grew 16%, although the quarter was 14 weeks long, according to a statement. Excluding the after-hours move, Sonos shares are up 9% for the year, compared with 14% for the S&P 500 index. This...
    Hunting numbers surge during COVID — but will the sports popularity last? Everyday items that didnt exist a decade ago Investors were disappointed by mega-cap tech guidance last week — but UBS says investors should stay invested and focus on 3 key areas © Spencer Platt/Getty Images Spencer Platt/Getty Images Technology investors were tested on Friday after strong earnings reports from mega-cap earnings like Amazon, Facebook, and Apple were still followed by sharp declines in share prices. Traders elected to focus on tepid profit-growth outlooks, rather than the past quarter's better-than-expected results. Despite the negative earnings reaction in Friday trades, investors should stick with technology stocks for the long term, UBS said in a note on Friday. The firm lays out three long-term technology themes investors should stay focused on. Visit Business Insider's homepage for more stories. Technology stocks took it to the chin on Friday after...
    Black Americans are the most hesitant to get a COVID-19 vaccine Europes COVID-19 outbreak is worsening from disaster to catastrophe, as the US scrambles to contain its third wave Set up for a strong 4Q with holidays plus Prime Day: Heres what 4 analysts expect from Amazons 3rd quarter earnings report © c c Amazon is set to report its third quarter earnings after the bell on Thursday, but all eyes will be on guidance. The third quarter is expected to be one filled with COVID-19 related safety investments and expansion of its fulfillment capacity, which could put a dent into profits. But fourth quarter guidance surrounding its October Prime Day event and the holiday shopping season should have a sizable impact on the direction of Amazon's stock price. Visit Business Insider's homepage for more stories. Amazon will release its third quarter earnings report after the market...
    People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City.Spencer Platt | Getty Images Earnings hopes wilt as fresh Covid outbreak throws 2021 reopening in doubt. That's the story of earnings season so far.  It's the one word investors didn't want to hear: lockdown. Never mind it's mostly in Europe, and only partial. "Lockdown light" still has a bad ring to it.  We are now halfway through a spectacular third quarter earnings season. So far, 85% of companies have beat expectations by an astounding 19% on average, well above the historic average beat of 3% to 5%, according to The Earnings Scout. The result is the market has shrugged. The S&P 500 is 8% below where it started on the day earnings season began Oct. 13.What went wrong?It's simple: Wall Street doesn't live on past earnings reports, however good they may be. It lives on future...
    HBCUs face pushback trying to diminish distrust in the medical community The best hole-in-the-wall diner in every state Boston Beer shares soar as much as 17% to a new all-time high after raised guidance Shares of Boston Beer rose as much as 17% on Friday to a new intraday all-time high after management raised guidance. The maker of Samuel Adams and Truly hard seltzer has seen its stock soar almost 180% so far in 2020. The company on Thursday reported third-quarter earnings per share that beat Wall Street expectations while revenues came in lighter than forecast. © Provided by CNBC Boston Beer shares soared as much as 17% to a new intraday all-time high Friday, one day after the maker of Samuel Adams and Truly hard seltzer reported third-quarter earnings and raised guidance. Load Error The stock was up about 14% to about $1,044 apiece in...
    Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020.Brendan McDermid | Reuters The big banks start off third quarter earnings season, and investors will be most focused on guidance to see if earnings can propel the market back to its highs. The S&P 500 closed at 3,534 Monday, about 1.5% from its previous high. Banking bellwether JPMorgan reports Tuesday morning, as do Citigroup and BlackRock. Delta Airlines and pharmaceutical maker Johnson and Johnson also report Tuesday. Bank of America, Goldman Sachs, Wells Fargo and PNC release earnings Wednesday. "The bank stocks haven't done anything in nine months. If JPMorgan is solid, and traders can't sell it down, the banks could help take S&P to the highs of the year,"...
    A Johnson & Johnson building is shown in Irvine, California.Mike Blake | Reuters Johnson & Johnson on Tuesday reported third-quarter earnings and revenue that beat Wall Street's expectations, led by higher sales in its medical-device unit. J&J reported an adjusted earnings of $2.20 per share, higher than the $1.98 per share projected by analysts surveyed by Refinitiv. The company generated $21.08 billion in revenue, higher than the $20.20 billion expected. The company also raised its full-year guidance, expecting adjusted earnings of $7.95 to $8.05 from per share from $7.75 to $7.95 per share. It also raised its sales forecast to between $82.0 billion and $82.8 billion from $79.9 billion and $81.4 billion. Last month, J&J began its phase three trial testing its potential coronavirus vaccine, becoming the fourth drugmaker backed by the Trump administration's Covid-19 vaccine program Operation Warp Speed to enter late-stage testing. J&J confirmed Monday that the 60,000-patient...
    Roval winners and losers The best fried foods around the world Third-quarter earnings season kicks off this week and results should be much better than expected Stock market bulls, rejoice.  Third quarter earnings season begins Tuesday with JPMorgan Chase.  © Provided by CNBC People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 5, 2020 in New York City. The good news: in the second quarter, companies delivered surprisingly large earnings beats as analysts underestimated the strength of the recovery.  That is happening again. The bad news: fourth quarter earnings — which is the quarter now on the minds of traders — remains hostage to the vaccine and reopening story, and to a lesser extent to the election. Third quarter estimates rising, an unusual development In most quarters, estimates for the quarter start out high, and then are adjusted downward — typically by 3% to 5% — as the...
    People walking along Wall Street in the Financial District of Manhattan on September 03, 2019 in New York City.Spencer Platt | Getty Images News | Getty Images Check out the companies making headlines after hours Monday: Standex International — Shares of the industrial mold manufacturing company rose 0.2% on the back of better-than-expected results for the previous quarter. Standex reported adjusted earnings for the fiscal fourth quarter of 65 cents per share. Analysts polled by FactSet expected a profit of 43 cents per share. "Since the end of April, our end markets have exhibited a gradual increase in the level of customer activity that has continued into our first quarter," said CEO David Dunbar. Palo Alto Networks — Palo Alto Networks posted earnings per share of $1.48, topping a FactSet estimate of $1.39 per share. The company also issued better-than-expected earnings guidance for the current quarter. However, Palo Alto shares...
    Chuck Robbins, chief executive officer of Cisco Technologies Inc., pauses during a panel session on day two of the World Economic Forum in Davos, Switzerland, on Jan. 22, 2020.Jason Alden | Bloomberg | Getty Images Cisco shares fell about 6% in extended trading on Wednesday after the maker of computer networking equipment provided a disappointing forecast. CEO Chuck Robbins told analysts during a conference call on Wednesday that the company's chief financial officer, Kelly Kramer, will be retiring. Here's how the company did in the fiscal fourth quarter:  Earnings: 80 cents per share, adjusted, vs. 74 cents per share as expected by analysts, according to Refinitiv. Revenue: $12.15 billion, vs. $12.08 billion as expected by analysts, according to Refinitiv. Revenue in the quarter declined 9% from a year earlier, according to a statement, the third straight quarterly drop. Earnings per share rose 22% as the company reduced...
    A customer leaves a Sherwin-Williams Co. storeDaniel Acker | Bloomberg | Getty Images With one-third of the S&P 500 reporting, there's a battle shaping up between two stories. One is somewhat bearish: The reopening is slowing, and the second half will not see the V-shaped recovery anticipated at the height of reopening euphoria in June. The other is generally bullish: Regardless of whether the reopening has bumps in the road, the second quarter was the bottom and there will be incremental improvement in the third and fourth quarter.The winners: Stay-at-home stocks, home buildersSherwin-Williams is a great example of the stay-at-home success stories. Earnings were way above consensus as consumers stayed home and painted their houses, and the company raised guidance for the full year, one of the few companies to do so. Home builders are also killing it. D.R. Horton had a big beat on a huge increase in orders...
    Vikings sign Kenny Willekes, leaving just one unsigned pick Dermatologists Say These Moisturizers Will Bring Your Dry Skin Back to Life Intel offers disappointing Q3 earnings guidance Intel beat on the top and bottom lines, but earnings guidance for the current quarter was lighter than expected. The company started giving full-year guidance again. © Provided by CNBC Intel CEO Robert Swan speaks at the Rakuten Optimism event in Yokohama, Japan, on July 31, 2019. Intel shares fell more than 8% on Thursday after the company reported better-than-expected second-quarter earnings. Here's how the company did: Earnings: $1.19 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. Revenue: $19.73 billion, vs. $18.55 billion as expected by analysts, according to Refinitiv. With respect to guidance, Intel called for $1.10 in earnings per share on an adjusted basis and $18.2 billion in...
    People walk past a TD Bank in Brooklyn, New York.Drew Angerer | Getty Images Earnings keep coming in, and while some high-profile companies are continuing to refuse providing guidance, many are making very interesting comments about the state of their industries. Here's a few: Stock trading really strong. A solid report from TD Ameritrade. Equity trading remains strong with Daily Average Revenue Trades (DARTS) up 62% from prior year. That was not as high as March to May but still strong, with asset growth and revenues above guidance. The move to $0 commissions and all the trading volatility really helping these e-brokers. Nasdaq also reported record trading volumes. Interactive Brokers also reported really strong volume. Initial public offering business also doing really well. Nasdaq CEO Adena Friedman: "The reopening of the IPO window is very encouraging. We have seen a steady inflow of listings from technology and health care ......
    As coronavirus ruined the US economy, these companies reaped dramatic profits, study says 10 Fruits and Veggies Worth Buying at the Farmers Market CEOs reflect on tough quarter, but also offer some good news on earnings calls Companies aren't giving much in the way of earnings guidance, but some top executives have recently offered some insightful comments. CEOs see upticks in tobacco, gasoline, RV, truck and can sales. © Provided by CNBC Coca-Cola President and CEO James Quincey attends a press conference with International Olympic Committee (IOC) president and China Mengniu Dairy CEO and Executive Director, as part of the 134th Session of the International Olympic Committee (IOC) at the SwissTech Convention Centre in Lausanne, on June 24, 2019. With so few companies providing numerical guidance, investors are listening carefully to earnings conference calls for some hint — any hint — on what is going on....
    LONDON (Reuters) - British broadband operator TalkTalk upgraded its guidance for full-year earnings on Tuesday after seeing trading recover in June and July from the impact of the COVID-19 lockdown. The company said it expected headline core earnings for its 2021 financial year to be stable or to grow, an improvement on its previous forecast of flat. It reported headline revenue of 358 million pounds ($454 million) for its first quarter. (Reporting by Paul Sandle; editing by Sarah Young) Copyright 2020 Thomson Reuters.
    A tag hangs from a Steelcase London Ltd. desk chair in the former offices of Duff Capital Advisors LP in Greenwich, Connecticut.Daniel Acker | Bloomberg | Getty Images With nearly half of the S&P 500 declining to provide earnings guidance, simple verbal commentary from a CEO or CFO —whether in a quarterly earnings press release, a conference call, or an annual meeting — is becoming increasingly important as traders grapple with understanding the investment environment. This earnings season, I'll be paying particular attention to that verbal commentary. Below, a selection of recent comments I found particularly insightful.The future of work — and furnitureWhat does a furniture company think about the future of work? Steelcase CEO James P. Keane had some interesting thoughts at his annual meeting: "In the very short run, offices need more separation between desks, and, in some cases, screens or partitions in order to comply with science-based...
    VIDEO3:3203:32Stocks jump after Moderna's positive vaccine news and Goldman beat estimatesNews Videos Stocks jumped after Moderna announced positive vaccine news and Goldman Sachs beat estimates. Here's what five experts are watching now. Jim Cramer, host of CNBC's "Mad Money," said the market is unflappable.  "Look at this market. I mean once again, remember we had a big update yesterday ... There are a lot of people who have to be converted to bulls pretty soon." Rick Rieder, global CIO of fixed income at BlackRock, laid out the catalysts for the market's bullishness.  "The markets are reacting to a couple of things. One, we are improving, whether it's this vaccine, whether it's vaccines we're seeing domestically or internationally out of China, Japan, etc. The development is impressive. And the other thing the market is reacting to is this extraordinary liquidity and the fact there's nothing else to do when the Fed...
    Floridas virus record underscores growing disaster of early state openings Tax Day deals and freebies are almost non-existent after tax deadline moved to July due to COVID-19 Investors should brace for a wild earnings season, and expect little guidance for whats ahead Analysts estimates are all over the place because about 40% of companies are not providing guidance on earnings. Companies will be hesitant to provide guidance on the third quarter as well. It's debatable whether there will be a V-shaped recovery in the economy, but stock analysts are predicting a V-shaped recovery in earnings. © Provided by CNBC People pass a sign for JPMorgan Chase at it's headquarters in Manhattan, New York City. Earnings season, which officially starts Tuesday with JPMorgan and Wells Fargo, is going to be wild — and unpredictable. Load Error Here's why: About 40% of companies are not providing any guidance...
    Clippers Kawhi Leonard healthy and now at Disney World, Doc Rivers confirms The Best Sales on Beauty Products This Week Europe Looks to ‘Messy’ Earnings That May Test Market’s Optimism (Bloomberg) -- Load Error Investors are gearing up for a potentially tumultuous European earnings season that may offer clues on whether the stock market’s rapid rebound since the start of the Covid-19 pandemic has been wise or foolish. The second-quarter reporting season kicks off this week with the likes of Volvo AB, Electrolux AB and Nordea Bank set to shed light on the virus’s profit impact. And with the region’s stock market having rallied 30% from March lows on bets that companies will start recovering in the second half of 2020, investors will be hungry for guidance that shows whether such optimism is well founded. “Our focus for the quarterly results will not be the backward-looking damage...
    Media magnate Barry Diller says his companies will end the “absurd” practice of giving earnings guidance to shareholders. The billionaire chairman of IAC and Expedia said firms are wasting the time they spend setting targets for their financial performance. The coronavirus pandemic has already led many companies to withdraw their guidance because of the economic uncertainty the crisis has created. “It kind of gave us the opportunity to say, you know what? Guidance is a bad business. We’re out,” Diller told CNBC on Friday. “We’re not doing it anymore, for either Expedia or for IAC.” “Spend your time actually figuring out where you should invest your money, how you should run your company,” he added. “Anybody who runs their company for a quarter is a bird-brain.” Issuing guidance is a common practice for public companies even though it’s not legally required. Proponents argue it keeps firms accountable to shareholders, CNBC...
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