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Check out the companies making headlines in midday trading: Apple — Shares ticked up roughly 2% ahead of the iPhone maker's second-quarter results due after the closing bell. Wayfair said it lost 32 cents per share on an adjusted basis, narrower than the estimate of a loss of 44 cents from analysts polled by LSEG. Etsy reported adjusted earnings of 48 cents per share, while analysts polled by LSEG called for 49 cents a share. EBay said it expects revenue in the range of $2.49 billion to $2.54 billion, while analysts polled by LSEG forecast $2.56 billion. Qorvo now expects earnings of 60 cents to 80 cents per share, while analysts polled by FactSet expected $1.27.
Persons: Barry McCarthy, Wayfair, Cigna, DoorDash, Etsy, LSEG, Zillow, Qorvo, FactSet, — CNBC's Pia Singh, Tanaya Macheel, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Alex Harring Organizations: Apple, , Qualcomm, LSEG . Revenue, Moderna, LSEG, eBay —, EBay, Revenue
Robert Downey Jr. disagreed with Chris Hemsworth, who said he was "replaceable" as Thor. AdvertisementRobert Downey Jr. disagreed with Chris Hemsworth after the "Thor" star said he was "replaceable" in the "Avengers" movies. "Hemsworth is, in my opinion, the most complex psyche out of all us Avengers. He's got wit and gravitas, but also such restraint, fire, and gentleness," Downey Jr. continued, before describing Hemsworth's work in "Thor: Ragnarok," "Avengers: Infinity War," and "Avengers: Endgame" as a "formidable hat trick." Downey Jr. and Chris Evans both left after "Endgame," and Scarlett Johansson exited following 2021's "Black Widow."
Persons: Robert Downey Jr, Chris Hemsworth, Thor, Hemsworth, , You've, Downey, Kenneth Branagh, Ken Branagh, He's, Dave Bautista, Kumail Nanjiani, Anthony Hopkins, Mark Ruffalo, Jeremy Renner, Downey Jr, Chris Evans, Scarlett Johansson, Marvel Organizations: Service, Marvel, Fair, Marvel Studios
The 10-year Treasury yield at one point in April neared 4.75% after starting the year below 4%. The anecdote, coupled with troubling inflation and economic growth data in April, helped push Treasury yields higher. More worrisome Powell commentary Wednesday after the Fed decision could further spike Treasury yields — or perhaps, he will sound confident the Fed still has a handle on inflation and rates will decline in response. However, that climb could run out of steam if Federal Reserve comments on Wednesday force Treasury yields higher. Higher interest rates constrain technology companies' ability to post the type of strong growth the sector has become synonymous with in recent years.
Persons: Stocks, Jerome Powell, worrisome Powell, Goldman Sachs Organizations: Federal, Tesla, Micro, Treasury
Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street's first-quarter revenue forecast and raised its full-year profit guidance. CVS expects adjusted earnings of at least $7 per share for 2024, down from previous guidance of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. A second-quarter revenue forecast also surpassed expectations, with Pinterest forecasting sales of $830 million to $850 million vs an LSEG consensus estimate of $827 million. Fiscal third-quarter revenue of $3.85 billion missed the Street's consensus estimate of $3.95 billion, according to LSEG.
Persons: Wall, Marriott, Estée Lauder, Estee Lauder, LSEG –, Kraft Heinz —, Powell, Macheel, Alex Harring, Sarah Min, Michelle Fox Organizations: Pfizer —, New, Pfizer, CVS, Marriott, LSEG, Starbucks, AMD —, AMD, Yum, KFC, Taco Bell, Powell Industries Locations: New York City, LSEG, Houston
Amazon posted earnings of 98 cents per share on $143.31 billion in revenue. Analysts surveyed by LSEG had forecast earnings of 83 cents per share on $142.5 billion in revenue. However, the company's second-quarter revenue forecast was shy of estimates. It forecast revenue for the current quarter in line with the analyst forecast of $5.70 billion. Pinterest reported adjusted earnings of 20 cents per share, topping forecasts for 13 cents per share, according to LSEG.
Persons: LSEG, Pinterest, Mondelez, , Sarah Min, Brian Evans, Alex Harring, Darla Mercado, Tanaya Macheel Organizations: Starbucks, Computer, Chesapeake Energy, Caesars Entertainment, Caesars, Revenue, Diamondback Energy Locations: LSEG
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe can easily see the Bank of Japan moving in June: State Street Global MarketsDwyfor Evans, managing director and head of Asia-Pacific macro strategy at State Street Global Markets, discusses how U.S.-Japan interest rate differentials might affect the yen.
Persons: Dwyfor Evans Organizations: Bank of, Global, Street Global Locations: Bank of Japan, Asia, Pacific, Japan
Read previewEmma Tucker's arrival at The Wall Street Journal a little over a year ago was met with enthusiasm. This story is available exclusively to Business Insider subscribers. Business Insider talked to a dozen insiders for this story; many of them said they had felt a shift from optimism to angst regarding Tucker and the newsroom generally. A Journal spokesperson said Tucker wasn't available to comment but offered an interview with Taneth Evans, Tucker's associate editor. Evans told Business Insider that the changes were drawn out to give the new leadership time to understand how the newsroom works.
Persons: , Emma Tucker's, Tucker, She's, effused, Liz Harris, Dow Jones, IAPE, Tucker wasn't, Taneth Evans, Tucker's, Evans, I've, Harris, Emma Tucker, Joy Malone, Rupert Murdoch, Matt Murray, Murray, Elon, Taylor, I'm, OpenAI's Sam Altman, Michael Bloomberg's, Lachlan Murdoch, Adrian Edwards, Axel Springer Organizations: Service, Wall, Business, Dow, Independent Association of Publishers ' Employees, CWA, Associates, Sunday Times, The New York Times, Times, Boeing, News Corp Locations: New York, London, Tesla, Gaza, New York City
Monday's analyst calls included an upgrade to Apple and a move in the opposite direction for athleisure giant Lululemon and electric car marker Tesla. The firm downgraded Ulta stock to equal weight from overweight, and lowered its price target to $434 per share from $612. — Brian Evans 6:30 a.m. Evercore slashes Tesla price target Evercore ISI says its forecast for Tesla stock is due for an update as headwinds from the start of the year converge and pressure the electric vehicle company. Apple stock has pulled back 12.1% in 2024 but was up 1.7% in premarket trading Monday. Lululemon stock has slipped nearly 29% in 2024 and was off 1.9% premarket Monday.
Persons: Bernstein, Toni Sacconaghi, Barclays downgrades Ulta, Adrienne Yih, Yih, — Brian Evans, Chris McNally, McNally, Bernstein's Toni Sacconaghi, Sacconaghi, Barclays downgrades Lululemon, headwinds, LULU Organizations: CNBC, Apple, Tesla, Barclays, ISI Locations: China, Friday's, Mexico
"Elon Musk's visit to China means far more than seeking approval for self driving tech on Chinese roads. Jonas reiterated an overweight rating on Tesla stock, alongside a $310 per share price target, implying more than 82% upside from Friday's $169.29 close. Tesla jumped as much as 14.4% on Monday following news of Musk's visit to China and meeting with Chinese Premier Li Qiang , as investors interpreted it as a sign of Musk's commitment to Tesla. To be sure, Musk's visit to China doesn't mean a breakthrough for FSD technology will come sooner. Tesla stock has faced increased pressure in 2024 on several fronts, and has still slumped 22% even after Monday's rally.
Persons: Elon, he's, Morgan Stanley's, Adam Jonas, Elon Musk's, Jonas, Tesla, Premier Li Qiang, Musk, Elon Musk, FSD Organizations: Premier, Twitter, SpaceX, Tesla Locations: China, Delaware, Beijing
Nvidia is proving itself a key beneficiary as technology companies "spend like crazy" to take advantage of artificial intelligence, according to Melius Research. "Sometimes a no brainer is a no brainer," analyst Ben Reitzes wrote on Monday. Reitzes' bullish take is tied to how aggressively he says technology companies and fellow chipmakers are pursuing artificial general intelligence, or artificial intelligence most closely akin to human reconnaissance. Nvidia will remain an essential piece of any tech firm's AI pursuits, he said. NVDA YTD mountain Nvidia stock.
Persons: Ben Reitzes, Reitzes, Blackwell, Nvidia's Blackwell, — CNBC's Michael Bloom Organizations: Nvidia, Research, Microsoft
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA's Jill Carey Hall: We continue to favor small caps for the long-termJill Carey Hall, BofA Securities, and Brooke May, Evans May Wealth, join 'Closing Bell Overtime' to talk the day's market action.
Persons: Jill Carey, Jill Carey Hall, Brooke May, Evans Organizations: BofA Securities, Wealth
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024. Stock futures fell sharply Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. Futures tied to the Dow Jones Industrial Average fell 419 points or 1.1%. Along with the downbeat growth rate for the quarter, the report showed consumer prices increased at a 3.4% pace, well above the previous quarter's 1.8% advance. Following the GDP print, traders moved down expectations for an easing of Federal Reserve monetary policy.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Treasury, Dow, Federal Reserve, Federal, Traders
Economists polled by Dow Jones forecast GDP growth would come in at 2.4%. Tech tumbleThe lackluster GDP added further pressure to an already-tense market contending with concerns over a pullback in growth among technology earnings. "This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting," wrote Chris Zaccarelli, investment chief at Independent Advisor Alliance. Investors are hoping the PCE report, which is the Fed's preferred measure of inflation, will show an improvement in pricing pressures after the March consumer inflation report came in hotter than expected. — Brian Evans8:58 a.m.: 10-year Treasury yield jumps to highest level since NovemberThe 10-year Treasury yield broke above 4.7% following the GDP report, hitting its highest level since November.
Persons: Johannes Eisele, Dow Jones, Chris Larkin, Morgan Stanley, Meta, Thierry Wizman, UnitedHealth, Alex Harring, Mark Zuckerberg's, Hakyung Kim, Fred Imbert, Chris Zaccarelli, Sarah Min, — Brian Evans, — Jesse Pound Organizations: New York Stock Exchange, AFP, Getty, Dow Jones, Caterpillar, IBM, Nasdaq, Dow, Federal Reserve, Federal, Traders, Meta, Business Machines, FX, Macquarie, Microsoft, Amazon, Merck, York Stock Exchange, Independent, Alliance, Investors, Treasury, Gross
Honeywell posted adjusted earnings per share of $2.25, beating analysts' estimates of $2.17 per share, per LSEG. Revenue for the quarter also came in better-than-expected at $9.11 billion, compared to the $9.03 billion analysts were expecting. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Caterpillar — Shares tumbled 6.5% after revenues of $15.8 billion for the most recent quarter missed analysts' estimates of $16.04 billion, according to LSEG.
Persons: Goldman Sachs, Mark Zuckerberg, ServiceNow, LSEG, , Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox Organizations: Facebook, Meta, Tech, Microsoft, Beverage, JPMorgan, Monster Beverage, Honeywell —, Honeywell, Revenue, Merck, Co, LSEG, — Bank of America, Southwest Airlines —, Management, StreetAccount, Machines, IBM, Bank of America, Caterpillar, Nvidia —, Nvidia, Comcast, Deutsche Bank — U.S, Deutsche Bank, CNBC Locations: NBCUniversal
AdvertisementEvans designed her facials business, Saving Faces, to be a calming retreat for her clients. Stella Kalinina for BIBecoming an esthetician set me on a journey to heal myself from the inside out. Stella Kalinina for BIWhen I started my healing journey, I became most connected to my hands. Stella Kalinina for BIFor wellness practices, I started to look at the world around me and find solutions in nature. Stella Kalinina for BIOne of my goals is to pass what I have learned on to my kids.
Persons: , Jenny Evans, It's, facials, couldn't, Evans, Stella Kalinina, BeautyGrass, Evans handmakes, skincare, I've, I'm Organizations: Service, Business, BI Locations: Los Angeles, Santa Cruz
Airbnb – The vacation property rental platform added nearly 2% following an upgrade by Mizuho to buy from neutral. Visa — Shares of the payment company rose more than 2% after stronger than expected results for the second fiscal quarter. Texas Instruments posted $1.20 per share on $3.66 billion in revenue, beating analysts' projections of $1.07 and $3.61 billion, respectively, per LSEG. Mattel saw $810 million in revenue during the quarterly period, which was less than the consensus estimate of $832 million. Enphase said to expect second-quarter revenue between $290 million and $330 million, under the consensus forecast of $349 million.
Persons: Mizuho, Elon Musk, Tesla, LSEG, , Enphase, Alex Harring, Samantha Subin, Jesse Pound, Brian Evans, Yun Li, Sarah Min, Michelle Fox Theobald Organizations: Boeing —, Boeing, Mizuho, Summer Olympics, Visa —, Visa, Revenue, Texas, Sea, Capital, Mattel, LSEG, Enphase Energy
Ulta Beauty — Ulta Beauty shares fell 3% after Jefferies downgraded the beauty retailer to a hold from a buy rating, citing rising competition. SLB reported $8.71 billion in revenue, just above the $8.69 billion projected by analysts, according to LSEG. However, SLB did report revenue in North America was down year over year. Ibotta — Shares of the technology company fell nearly 6% a day after Ibotta's initial public offering. Intuitive Surgical — Shares ticked down nearly 2% despite the company beating on the top and bottom lines in the first quarter.
Persons: Jefferies, Shopify, Morgan Stanley, SLB, , Samantha Subin, Michelle Fox, Pia Singh, Jesse Pound Organizations: Netflix, FactSet, Revenue, American Express, Micro Computer, Paramount —, The New York Times, Bloomberg, Sony Pictures Entertainment, Apollo Global Management, PPG Industries Locations: Canada, North America
As first quarter earnings season rolls on, analysts are upping their forecasts on a collection of names set to report next week. According to FactSet data, analysts have upwardly revised their earnings estimates by more than 18% over the past three months. Analysts polled by FactSet have increased their earnings forecasts by nearly 18% over the past three months, and now expect earnings of 66 cents per share. GE YTD mountain GE Aerospace stock. GE Aerospace started trading on Wall Street earlier in April, after General Electric completed a split into three components compromised of GE Vernova, GE Healthcare and GE Aerospace.
Persons: Meta, Justin Post, Goldman Sachs, John Marshall lauding, Noah Poponak, Rowe Price Organizations: Netflix, Express, CNBC, Meta, Facebook, Messenger, Bank of America, GE Aerospace, FactSet, GE, Wall, General Electric, GE Vernova, GE Healthcare, Seagate Technology
JetBlue Airways — Shares jumped 4.1% after JPMorgan upgraded the airline to neutral from underperform, saying it likes its turnaround potential. Barnes Group — The global industrial tech and aerospace stock jumped 9.3% after DA Davidson upgraded the company to buy from neutral, saying shares are attractive. Blackstone — The asset manager slipped 2.3% after lowering its dividend to 83 cents per share from 94 cents per share. Horton exceeded expectations in its fiscal second quarter, posting earnings of $3.52 per share on revenue of $9.11 billion. Elevance Health — Shares jumped 3.2% after the health insurance company posted an earnings beat and raised its full-year guidance.
Persons: Estee Lauder, Tesla, Emmanuel Rosner, Rosner, Davidson, Blackstone, Horton —, Horton, LSEG, Morgan Stanley, Donald Trump's, , Samantha Subin, Brian Evans, Hakyung Kim, Lisa Kailai Han Organizations: JPMorgan, Taiwan Semiconductor Manufacturing, JetBlue Airways —, Iris Energy, Deutsche Bank, Google, Meta, Reuters, Group, Alaska Air Group, Revenue, BJ's Wholesale, eBay, — Rosenblatt Securities, Trump Media & Technology, Truth Social Locations: Taiwan, Alaska
Stock futures traded near the flatline on Wednesday evening after the S&P 500 and the Nasdaq Composite logged a fourth straight day of losses. Futures tied to the S&P 500 added 0.03%, while Nasdaq 100 futures gained 0.1%. Tech stocks struggled on Wednesday, with the S&P 500 and the Nasdaq Composite registering their fourth consecutive losing session. The Dow, S&P 500 and the Nasdaq have also closed below their respective 50-day moving averages. He said he's watching the 5,150 to 5,200 level of the S&P 500 as key resistance.
Persons: Dow, Jason Hunter, he's Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Vegas Sands, Tech, Nvidia, JPMorgan, Alaska Air Group, Netflix Locations: New York City, U.S, Vegas
Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. U.S. crude oil fell for the third consecutive trading session on Wednesday, dipping below $85 a barrel as the market dismissed the risk of a wider war between Israel and Iran that could disrupt supplies. The West Texas Intermediate contract for May delivery fell 46 cents, or 0.55%, to $84.89 a barrel. June Brent futures were down 51 cents, or 0.57%, at $89.51 a barrel. U.S. oil and the global benchmark are down just under 1% this week.
Persons: Brent, John Evans, PVM Organizations: U.S, The West Texas Intermediate Locations: Gaza, Israel, Iran, The, U.S
CSX — The rail transport and real estate stock ticked up about 1% after CSX beat Wall Street estimates on the top and bottom line in the first quarter. The railway company posted earnings of 46 cents per share on revenue of $3.68 billion, while analysts polled by LSEG anticipated earnings of 45 cents a share and revenue of $3.67 billion. Alcoa reported $2.6 billion in revenue, while analysts polled by LSEG called for $2.56 billion. The company posted a wider-than-anticipated loss of 81 cents per share, versus analysts' estimates for a 55-cent per share loss. Equifax expects earnings per share of $1.65 to $1.75 per share in the second quarter, while analysts polled by FactSet expected $1.87 per share.
Persons: LSEG, Equifax, FactSet Organizations: CSX, Wall, Vegas Sands, Alcoa Locations: Vegas
As earnings season picks up steam, Morgan Stanley has named a group of stocks that could see a jump on quarterly results. Nvidia has climbed more than 70% in 2024, and the chipmaker is set to report quarterly results on May 22. Analysts polled by FactSet forecast earnings per share of $5.56 on revenue of $24.46 billion in the fiscal first quarter. Analysts have upwardly revised their earnings estimates on Nvidia by 17% over the past three months, according to FactSet data. Amazon has added 19% in 2024, and the company will report quarterly results on April 30.
Persons: Morgan Stanley, Michelle Weaver, Joseph Moore, Moore, Brian Nowak, Nowak Organizations: Amazon, Nvidia, Wall, Analysts, North Locations: North America
UnitedHealth posted better-than-expected first-quarter revenue and reaffirmed its full-year earnings forecast of $27.50 to $28 per share excluding items. Johnson & Johnson — The drugmaker slipped 2% despite beating first-quarter profit estimates and reporting in-line revenue. Johnson & Johnson adjusted its full-year sales forecast for 2024 to a range of $88 billion to $88.4 billion compared to a previous forecast of $87.8 billion to $88.6 billion. The firm also surpassed analysts' earnings and revenue estimates. Bank of America — Charlotte-based Bank of America fell 3.5% after quarterly profit tumbled 18% to $6.67 billion , or 76 cents a share.
Persons: UnitedHealth, Johnson, Morgan Stanley —, Tesla, , Sarah Min, Tanaya Macheel Organizations: Dow Jones, FactSet, Johnson, Technologies, Barclays, Live, Entertainment, Journal, U.S . Department of Justice, Bank of America, of America, Revenue
Read previewEvy Rivera and Jacob Evans were looking to put down roots when they found their dream fixer-upper. AdvertisementAfter watching the series, Rivera and Evans fell in love with the idea of renovating a dated property while maintaining its integrity. "We had seen quite a few Victorian homes already in other parts of New York," Rivera said. Evy Rivera and Jacob Evans bought a Victorian home from the 1800s. Evy Rivera and Jacob Evans"It's not a glamorous life at all," Rivera said of restoring their home.
Persons: , Evy Rivera, Jacob Evans, Rivera, Evans, Jacobs, Dwight Reynolds, It's, They've, They're, it's Organizations: Service, Business, HGTV Locations: Denver, Florida, Instagram, New York, Pennsylvania, Earlville , New York
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