DIRS.INFO The most relevant business & tech news

[1/2] A miniature airplane is placed on the displayed Air India Express and Akasa Air logos, in this illustration taken October 30, 2023. Akasa did not comment on its communication with Air India, but said the issue of pilot exits was "now behind us ... we are squarely back in growth mode". Air India declined to comment and the two chief executives did not respond to requests for comment. The dispute comes at the time of a hiring spree by Air India, with its arm, Air India Express, seeking to more than triple its fleet to 170 over five years. In recent weeks, Akasa has lost about a tenth of its 450 pilots, who left without serving out notice periods, some to join Air India Express.

Persons: Dado Ruvic, Campbell Wilson, Vinay Dube, missive Dube, Akasa, Wilson, Dube, India's Wilson, Aditya Kalra, Aditi Shah, Clarence Fernandez Organizations: Air India Express, REUTERS, Tata's, India Express, Air, Akasa, Reuters, Air India, Tata Group, Tata, of Indian Pilots, Thomson Locations: India, DELHI, Air India

☆ Canadian Solar to invest $800 million to build cell manufacturing plant
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Miniatures of solar panel and electric pole are seen in front of Canadian Solar logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Canadian Solar Inc FollowOct 30 (Reuters) - Canadian Solar (CSIQ.O) said on Monday it would invest $800 million to build a solar photovoltaic (PV) cell production facility at the River Ridge Commerce Center in Jeffersonville, Indiana. The company said the plant would produce cells with an annual output of 5 gigawatts (GW), equivalent to about 20,000 high-power modules per day. The Guelph, Ontario-based company said cells produced at Jeffersonville facility would be used at its 5 GW module assembly plant in Mesquite, Texas, the company's first manufacturing facility in the U.S., announced in June. Shares in the company, which is exiected to start production at the Jeffersonville facility by the end of 2025, were up 1.56% at $19.51 in premarket trading.

Persons: Dado Ruvic, Tanay, Vinay Dwivedi Organizations: Canadian, REUTERS, Rights, Commerce, Thomson Locations: Jeffersonville , Indiana, Guelph, Ontario, Jeffersonville, Mesquite , Texas, U.S, Bengaluru

☆ Labcorp beats quarterly profit estimates on strength in routine testing segment
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

The logo for Labcorp, Laboratory Corporation of America, a life sciences company is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 26 (Reuters) - Laboratory Corporation of America (LH.N) topped Wall Street expectations for quarterly adjusted profit on Thursday, as strength in its routine diagnostics business more than offset weak COVID test sales. Peer Danaher (DHR.N) also beat profit expectations earlier this week on the back of strong demand for its diagnostic tests for respiratory diseases. Labcorp reported adjusted profit of $3.38 per share, beating analysts' average estimate of $3.33 per share. The life sciences company also tightened its annual profit per share outlook to between $13.25 and $13.75, from $13 to $14 forecast earlier.

Persons: Brendan McDermid, Danaher, Labcorp, Mariam Sunny, Vinay Dwivedi Organizations: Laboratory Corporation of America, New York Stock Exchange, REUTERS, Quest Diagnostics, Thomson Locations: New York City, U.S, Bengaluru

☆ T-Mobile lifts free cash flow forecast as profit, subscriber additions beat estimates
▼ + stars: | 2023-10-25 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

T-Mobile now expects adjusted free cash flow for the year to be between $13.4 billion and $13.6 billion, compared with its prior forecast of $13.2 billion to $13.6 billion. T-Mobile added 850,000 postpaid phone customers in the third quarter, the highest among peers, beating FactSet estimates of 773,400 additions. It raised its full-year forecast for wireless subscriber net additions to between 5.7 million and 5.9 million, up from its earlier forecast of 5.6 million to 5.9 million. The telecom industry has been seeing a gradual moderation in postpaid phone net additions after hitting record levels in 2021 and 2022. Industry-wide postpaid phone net additions are expected to moderate in 2023 to 8.5 million from a near-record 9.3 million in 2022, according to analysts at Goldman Sachs.

Persons: Leonhard Foeger, Jamie Lumley, Goldman Sachs, Samrhitha, Vinay Dwivedi Organizations: Mobile, REUTERS, Verizon, Rivals Verizon, Thomson Locations: Mobile Austria, Vienna, Austria, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. Aerospace major RTX (RTX.N) jumped 6.1% after it reported better-than-expected quarterly earnings. Of the 118 S&P 500 (.SPX) companies that have reported earnings so far, 81.4% have topped analysts' expectations, LSEG data showed. Ten of the 11 major S&P 500 sectors were trading higher, with energy (.SPNY) the sole outlier, down 1.0%, on weaker crude prices. HCA Healthcare (HCA.N) fell 4.9% after the hospital operator missed Wall Street estimates for quarterly profit as its physician-staffing joint venture missed internal growth targets.

Persons: Brendan McDermid, Hugh Anderson, what's, you've, Bitcoin, Shubham Batra, Shashwat Chauhan, Sruthi Shankar, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Big Tech, Verizon, Dow, Nasdaq, U.S, General, Aerospace, HighTower Advisors, P, Microsoft, Reserve, Dow Jones, Marathon, HCA Healthcare, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, Bengaluru

☆ Dow forecasts lower-than-expected net sales in Q4 on low prices, weak demand
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The Dow Chemical logo is displayed on a board above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S. on December 22, 2015. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsOct 24 (Reuters) - Dow Inc (DOW.N) forecast average net sales for the current quarter below analyst estimates on Tuesday, as the chemical maker continues to navigate weak demand and low prices for its products in key markets. Dow reported a sequential decline of 7% in prices of their products in Europe, the Middle East, Africa and India, primarily due to lower feedstock and energy rates. However, the company added it expects to see benefits from rising oil prices in the next few quarters. Prices of Dow products such as polyethylene, poly vinyl chloride and other base metals increase on the back of rising crude oil.

Persons: Lucas Jackson, Dow, Howard Ungerleider, Jeffrey Tate, Sriraj Kalluvila, Vinay Dwivedi, Krishna Chandra Organizations: Dow, New York Stock, REUTERS, Dow Inc, Saikeerthi, Thomson Locations: New York, U.S, China, Europe, East, Africa, India, Bengaluru

☆ Payments firm Fiserv lifts profit forecast as Q3 earnings double on spending boost
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: 1 min

Oct 24 (Reuters) - Fiserv (FI.N) raised its annual profit forecast on Tuesday after the payment services firm's third-quarter earnings nearly doubled on strong consumer spending. The company said it expects adjusted earnings of $7.47 to $7.52 per share in 2023, higher than the $7.40 to $7.50 range it forecast earlier. Analysts expect a profit of $7.44 per share, according to LSEG IBES data. Fiserv reported a net profit of $952 million for the three months ended Sept. 30, nearly doubling from a year earlier. Reporting by Niket Nishant in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Fiserv, Niket, Vinay Dwivedi Organizations: Thomson Locations: Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 20, 2023. General Electric (GE.N) jumped 6.4% in premarket trading after the aircraft engine manufacturer raised its full-year profit forecast. General Motors (GM.N) added 1.5% after beating third-quarter profit estimates, while 3M (MMM.N) gained 4.1% after raising its full-year adjusted profit forecast. Of the 86 companies in the S&P 500 that have reported earnings so far, 78% have topped analysts' expectations, LSEG data showed. The turmoil in the Middle East is also focus as Israel intensified its assault on Hamas in Gaza.

Persons: Brendan McDermid, Bitcoin, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, General Electric, General Motors, 3M, Societe Generale, Apple, Microsoft, Reserve, Nvidia, Commerce Department, Dow e, Reuters, Arm Holdings, Intel, Marathon, Thomson Locations: New York City, U.S, Israel, Gaza, Coinbase, Bengaluru

☆ Verizon raises free cash flow forecast as subscriber additions top estimates
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

The company now expects annual free cash flow (FCF) to be higher than $18 billion, at least a $1 billion increase from its prior forecast. Its third-quarter FCF of $6.7 billion beat estimates by more than $1.3 billion, according to Visible Alpha. Shares of the New York-based telecom company, which has benefited from price increases and customers migrating to higher-tiered unlimited plans, rose more than 4% in premarket trading. Rival AT&T (T.N) raised its annual FCF forecast last week and trounced Wall Street estimates for subscriber additions. Verizon's revenue fell 2.6% to $33.3 billion in the three months to September, but was in-line with analysts' average estimate of $33.25 billion, according to LSEG data.

Persons: Brendan McDermid, Samrhitha, Vinay Dwivedi Organizations: Verizon, REUTERS, U.S, Alpha, Wall, Mobile, Thomson Locations: New York City, U.S, York, Bengaluru

☆ Wall St ends sharply lower, posts weekly losses; Mideast fears increase
▼ + stars: | 2023-10-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

All of the S&P 500 index's 11 sectors ended lower in broad-based selling, with technology (.SPLRCT) and financials (.SPYS) among the biggest drags. The S&P 500 financial index (.SPSY) was down 1.6% while the KBW regional banking index (.KRX) fell 3.5%. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsFor the week, the Dow was down 1.6%, the S&P 500 fell 2.4% and the Nasdaq slid 3.2%. The third-quarter U.S. earnings season is well under way, with 86 companies in the S&P 500 having reported. The S&P 500 posted no new 52-week highs and 38 new lows; the Nasdaq Composite recorded nine new highs and 420 new lows.

Persons: Alan Lancz, Alan B, Lancz, Jerome Powell, Brendan McDermid, Dow, advancers, Caroline Valetkavitch, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: Treasury, Dow, Nasdaq, Lancz, Associates Inc, Regions, Federal, Dow Jones, Wall, REUTERS, American Express, NYSE, Thomson Locations: Israel, Gaza, Toledo , Ohio, U.S, New York, Bengaluru

☆ Wall St ends sharply lower with tech, financials; Mideast fears increase
▼ + stars: | 2023-10-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. All of the S&P 500 index's 11 sectors fell in broad-based selling. The KBW regional banking index (.KRX) was down sharply, while shares of Regions Financial (RF.N) slid to their lowest since March 2020. The benchmark 10-year Treasury yield fell on Friday, a day after crossing 5% for the first time since July 2007 in the wake of comments by Federal Reserve Chair Jerome Powell. The third-quarter U.S. earnings season is well under way, with 86 companies in the S&P 500 having reported.

Persons: Brendan McDermid, Alan Lancz, Alan B, Jerome Powell, Lancz, Caroline Valetkavitch, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: Wall, REUTERS, Treasury, Major U.S, Regions, Lancz, Associates Inc, Federal, Nasdaq, Dow Jones, Thomson Locations: New York, U.S, Major, Israel, Toledo , Ohio, Gaza, Bengaluru

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. "Obviously with yields moving higher, you expect the equity market to pull back a little bit. Better-than-expected economic data, inflation not coming down as anticipated and weak demand at auctions contributed to higher yields," said Victoria Fernandez, chief market strategist at Crossmark Global Investments. Eight of the 11 S&P 500 sub-sectors were in the red, with consumer discretionary (.SPLRCD), energy (.SPNY) and information technology (.SPLRCT) leading declines amongst the major S&P 500 sectors. Third-quarter earnings for the S&P 500 companies are expected to increase 1.1% year-on-year, compared with a 1.6% rise estimated on Thursday, as per LSEG data.

Persons: Brendan McDermid, Jerome Powell, Powell, Victoria Fernandez, Raphael Bostic, Patrick Harker, CME's, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: Wall, REUTERS, Dow, Nasdaq, Treasury, Federal, Christian, Economic, of New, Crossmark Global Investments, Atlanta Fed, CNBC, Philadelphia Fed, Traders, Regions, American, Dow Jones, Coinbase Global, Marathon, NYSE, Thomson Locations: New York, U.S, Israel, Gaza, of New York, Bengaluru

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Comments from Philadelphia Fed President Patrick Harker and Cleveland Fed President Loretta Mester will also be on investor radar during the day as Fed officials will be entering a media blackout starting Saturday ahead of their meeting on Nov 1. The 10-year Treasury yield , which briefly crossed 5% on Thursday for the first time since July 2007, were last at 4.9392%. ET, Dow e-minis were down 78 points, or 0.23%, S&P 500 e-minis were down 13 points, or 0.3%, and Nasdaq 100 e-minis were down 61 points, or 0.41%. Shares of solar firms Enphase Energy (ENPH.O) and First Solar (FSLR.O) were also down 15.6% and 5.2%, respectively.

Persons: Brendan McDermid, Jerome Powell, Powell, Jay Powell, Michael Hewson, Lorie Logan, Patrick Harker, Loretta Mester, CME's, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: Wall, REUTERS, Dow, Nasdaq, Treasury, Federal, Economic, of New, CMC, Fed Bank of Dallas, Market, BofA, Research, U.S, Philadelphia Fed, Cleveland Fed, Traders, American Express, Investors, Dow e, Enphase Energy, Thomson Locations: New York, U.S, of New York, East, Israel, Gaza, Bengaluru

☆ Wall St drops as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The rate-sensitive real estate sector (.SPLRCR) dropped 2.4% and was the day's worst-performing S&P 500 sector. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The labor market is showing strength even though the central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022. The S&P 500 posted 2 new 52-week highs and 37 new lows; the Nasdaq Composite recorded 15 new highs and 370 new lows.

Persons: Tesla, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Brendan McDermid, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Netflix, Dow, Nasdaq, Treasury, Wealthspire Advisors, Economic, Dow Jones, New York Stock Exchange, REUTERS, Data, U.S . Labor Department, Netflix Inc, American Airlines, United Airlines, NYSE, Thomson Locations: Westport , Connecticut, New York, U.S, New York City, United States, Britain, France, Bengaluru

☆ Wall St ends down as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The Dow Jones Industrial Average (.DJI) fell 254.24 points, or 0.76%, to 33,410.84. Data this week has pointed to strong consumer demand and a tight labor market. A U.S. Labor Department report on Thursday showed the number of Americans filing new claims for unemployment benefits fell to a nine-month low last week.

Persons: Brendan McDermid, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Netflix, Tesla, Treasury, Wealthspire Advisors, Economic, Nasdaq, Dow Jones, U.S . Labor Department, Thomson Locations: New York City, U.S, Westport , Connecticut, New York, United States, Britain, France, Bengaluru

Powell, however, added the economy's strength and continued tight labor markets could warrant further Federal Reserve interest rate increases. Third-quarter earnings for S&P 500 companies are now estimated to grow at 1.6% compared with expectations of a 2.2% increase last week, LSEG data showed. Yields on the 2-year note, which best reflects short-term interest rate expectations, fell , while that on the 10-year note edged higher to 4.9215%, near the 5% level last seen in 2007. Communications services (.SPLRCL) and information technology (.SPLRCT) led gains amongst the major S&P 500 sectors. On the earnings front, Blackstone (BX.N) slipped 6.0% as the world's largest private equity firm's third-quarter distributable earnings fell more than expected due to a decline in asset sales in its real estate business.

Persons: Brendan McDermid, Jerome Powell, Powell's, CME's, Powell, Chris Zaccarelli, Russell Hackmann, Austan Goolsbee, Atlanta's Raphael Bostic, Philadelphia's Patrick Harker, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Netflix, Dow, Nasdaq, Economic, of New, Traders, Independent, Alliance ., Hackmann Wealth Partners, Investors, Chicago Fed, Dow Jones, Communications, Blackstone, Lam Research, NYSE, Thomson Locations: New York City, U.S, of New York, United States, Britain, France, Bengaluru

☆ Wall St falls more than 1%; yields rise, investors assess earnings
▼ + stars: | 2023-10-18 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. The S&P 500 passenger airlines index (.SPLRCALI) dropped 5.6%. Shares ended the day down 6.8%. Tesla ended the regular session down 4.8% and Netflix ended the session down 2.7%. The S&P 500 posted 12 new 52-week highs and 25 new lows; the Nasdaq Composite recorded 25 new highs and 252 new lows.

Persons: Brendan McDermid, Netlix, homebuilding, Rick Meckler, Joe Biden, Morgan Stanley's, Tesla, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Arun Koyyur, Vinay Dwivedi, Nick Zieminski, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Airlines, Dow, Nasdaq, Federal Reserve, Cherry Lane Investments, Procter, Gamble, United Airlines Holdings, Dow Jones, U.S, Tesla, Netflix, NYSE, Thomson Locations: New York City, U.S, New Vernon , New Jersey, Israel, Gaza, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Demand for safe-haven assets sent gold prices to a more than two-month high, up over 1%, while the U.S. dollar also strengthened. Stronger crude prices pushed energy stocks (.SPNY) 1% higher, while industrials (.SPLRCI) and materials (.SPLRCM) led the decline in major S&P 500 sectors. Declining issues outnumbered advancers by a 3.90-to-1 ratio on the NYSE and by a 2.69-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and 14 new lows, while the Nasdaq recorded 20 new highs and 149 new lows.

Persons: Brendan McDermid, Morgan Stanley, Joe Biden, Biden, Treasuries aren't, Brian Jacobsen, homebuilding, Chris Giamo, Morgan Stanley's, New York's John Williams, Christopher Waller, Michelle Bowman, Jerome Powell's, Patrick Harker, Ankika Biswas, Shashwat Chauhan, Sruthi Shankar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Tuesday United Airlines, Dow, Nasdaq, U.S ., Annex Wealth Management, Federal Reserve, TD Bank, Abbott Laboratories, Consumer, Procter, Gamble, Tesla, Netflix, . Philadelphia Fed, Wall Street Journal, Dow Jones, Nvidia, Biden, China . United Airlines Holdings, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. On the earnings front, consumer goods maker Procter & Gamble (PG.N) edged up 0.2% after its quarterly sales topped market expectations. EV maker Tesla (TSLA.O) and streaming services company Netflix (NFLX.O) are scheduled to report quarterly results after market close. ET, Dow e-minis were down 93 points, or 0.27%, S&P 500 e-minis were down 18.5 points, or 0.42%, and Nasdaq 100 e-minis were down 88.25 points, or 0.58%. Travelers Companies (TRV.N) reported a 14% fall in quarterly profit.

Persons: Brendan McDermid, Joe Biden, Morgan Stanley, New York's John Williams, Governors Christopher Waller, Michelle Bowman, Jerome Powell's, Powell, Patrick Harker, Neel Kashkari, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, United Airlines, Dow, Nasdaq, U.S, Chevron, Exxon Mobil, Occidental Petroleum, Treasury, Procter, Gamble, Abbott Laboratories, Tesla, Netflix, Federal Reserve, Governors, Generale, Philadelphia Fed, Wall Street Journal, Minneapolis, Dow e, Nvidia, Biden, China . United Airlines Holdings, Rivals American Airlines, Delta Air Lines, Interactive, Travelers Companies, Thomson Locations: New York City, U.S, United, Gaza, Israel, New, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. A rise in U.S. Treasury yields, with the 10-year yields up at 4.813%, pressured megacaps Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O) and Amazon.com (AMZN.O), dragging them down between 0.1% and 0.5%. Bank of America (BAC.N) gained 3.1%, boosting the S&P 500 (.SPX) as it joined rivals in earning more from interest payments by its customers, while investment banking and trading fared better than expected. Economy-sensitive energy (.SPNY) and materials stocks (.SPLRCM) led gains amongst the major S&P 500 sectors, while information technology (.SPLRCT) lagged behind. Dollar Tree (DLTR.O) rose 4.4% after Goldman Sachs upgraded the discount retail chain's shares to "buy" from "neutral".

Persons: Brendan McDermid, Goldman Sachs, megacaps, Sam Stovall, Thomas Barkin, Biden, Joe Biden, Benjamin Netanyahu, Lockheed Martin, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Companies, Biden, Dow, Nasdaq, Treasury, megacaps Apple, Microsoft, CFRA Research, Federal Reserve Bank of Richmond, Bank of America, Semiconductor, Dow Jones, Israel, Washington, VMware, NYSE, Thomson Locations: New York City, U.S, China, megacaps ., Philadelphia, Bengaluru

☆ Nasdaq ends down on higher yields, chipmaker share declines
▼ + stars: | 2023-10-17 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. U.S. Treasury yields rose on robust economic data. Higher yields dull the allure of stocks by offering investors comparatively high income on risk-free government bonds. Helping to limit the declines, though, were upbeat earnings reports from companies including Bank of America (BAC.N), whose stock was up following its quarterly results. In other earnings news, Goldman Sachs's (GS.N) third-quarter profit dropped less than expected, though its shares fell.

Persons: Brendan McDermid, Goldman Sachs, Biden, Peter Cardillo, Anthony Saglimbene, Joe Biden, Goldman Sachs's, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Companies, Biden, Semiconductor, Nvidia, Treasury, Bank of America, Spartan Capital Securities, Nasdaq, Dow Jones, Federal, Investors, U.S, Israel, Hamas, Thomson Locations: New York City, U.S, China, chipmakers, Philadelphia, New York, Troy , Michigan, Israeli, Gaza City, Gaza, Bengaluru

☆ SNAPSHOT Futures extend losses after retail sales data
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: 1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 17 (Reuters) - U.S. stock index futures extended losses on Tuesday after data showed a stronger-than-anticipated rise in monthly retail sales, stoking concerns the Federal Reserve could keep interest rates elevated for longer with another hike also on the table. The Commerce Department report showed retail sales rose 0.7% in September, compared with estimates of a 0.3% rise, according to economists polled by Reuters. ET, Dow e-minis were down 84 points, or 0.25%, S&P 500 e-minis were down 15.75 points, or 0.36%, and Nasdaq 100 e-minis were down 78 points, or 0.51%. Reporting by Shashwat Chauhan in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Shashwat Chauhan, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Commerce Department, Reuters, Dow e, Nasdaq, Thomson Locations: New York City, U.S, Bengaluru

☆ Wall Street ends up on earnings optimism; eyes remain on Middle East
▼ + stars: | 2023-10-16 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Consumer discretionary (.SPLRCD) led gains among S&P 500 sectors, although all of the sectors were higher on the day. Third-quarter earnings for S&P 500 companies are estimated to have increased 2.2% year-over-year, up from an estimated increase of 1.3% a week earlier, according to LSEG data Friday. At the same time, global leaders are trying to make sure that the Middle East conflict "remains contained," she said. The S&P 500 posted 11 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 33 new highs and 206 new lows.

Persons: Brendan McDermid, Charles Schwab, Russell, Goldman Sachs, Morgan Stanley, Johnson, Quincy Krosby, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Aurora Ellis Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Major U.S, Bank of America, Johnson, Netflix, Dow Jones, York, Philadelphia Fed, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Major, Gaza, Charlotte , North Carolina, Bengaluru

Consumer discretionary (.SPLRCD) and materials (.SPLRCM) led the gains across major S&P 500 sectors, while utilities (.SPLRCU) and energy stocks (.SPNY) lagged behind. Third-quarter earnings for S&P 500 companies are estimated to grow 2.2% year-on-year, LSEG data showed on Friday. Investors also await economic data including retail sales for September and the Philly Fed Business Index for October later this week. Lululemon Athletica (LULU.O) added 9.6% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard . The S&P index recorded nine new 52-week highs and six new lows, while the Nasdaq recorded 29 new highs and 148 new lows.

Persons: Brendan McDermid, Charles Schwab, Dow, Ross Mayfield, Baird, Goldman Sachs, Morgan Stanley, Johnson, Jerome Powell's, Patrick Harker, Lululemon, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Moderna, Dow, Nasdaq, Microsoft, Bank of America, Johnson, Tesla, Netflix, Investors, Philly, Dow Jones, Federal, Fed, Philadelphia Fed, Apple, Activision Blizzard, NYSE, Thomson Locations: New York City, U.S, Israel, Gaza, New York State, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 and the Nasdaq dropped on Friday as deteriorating consumer sentiment data and the Middle East conflict kept investors away from riskier bets and overshadowed some upbeat earnings from big U.S. banks. Third-quarter earnings for the S&P 500 companies are estimated to grow 2.2% on an annual basis, LSEG data showed. Of the 32 S&P 500 companies that have reported results, 87.5% have surpassed expectations compared with the long-term average of 66.5%. Rival Moderna (MRNA.O) dipped 5.1%Lululemon Athletica (LULU.O) added 5.8% as the sportswear apparel maker is set to join the S&P 500 index this week, replacing Activision Blizzard (ATVI.O).

Persons: Brendan McDermid, Antony Blinken, Pissouros, Goldman Sachs, Morgan Stanley, Johnson, Charles Schwab, Patrick Harker, Jerome Powell, Harker, Austan Goolsbee, Ankika Biswas, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Reuters, Pfizer, Dow, Nasdaq, Treasury, XM, Bank of America, Johnson, Tesla, Netflix, Philly, New York, Philadelphia Fed, Federal, Chicago Fed, Dow e, Nvidia, Activision Blizzard, Thomson Locations: New York City, U.S, China, Israel, Gaza, United States, Bengaluru

Search resuls for: "Vinay"

25 mentions found