Spencer Platt/Getty Images News Exxon Mobil (NYSE:XOM) could post slightly weaker profits in Q4 compared to the previous quarter, as lower energy prices had a negative Q/Q impact on earnings of $3.3B-$4.1B, according to an 8-K filing Wednesday. Exxon (XOM) anticipates the impact from lower natural gas prices was in the $2B-$2.4B range, while lower … Read more
Shares of Medtronic PLC MDT, +1.22% dropped 2.4% in premarket trading Tuesday, after the medical devices maker reported fiscal second-quarter profit that topped expectations but revenue that missed and provided a downbeat full-year outlook, citing weakness in procedure volumes in certain businesses and the pricing impact of procurement in China. Net income for the quarter … Read more
Electric car charging group Pod Point issued a profits warning after long waiting times for plug-in vehicles led car buyers to delay installing home chargers, its largest source of revenue. Sales growth of electric vehicles or hybrids that plug in to recharge has “slowed markedly” over the past year and a half, the EDF-backed group … Read more
Eight, a cryptocurrency consultancy founded by Michaël van de Poppe in 2018, has uncovered the best altcoins that can benefit from FTX’s demise. According to analysts, recent events are promoting a narrative that is strongly associated with decentralization. Following the FTX news, leading hardware wallet manufacturer Trezor and Ledger reported skyrocketing and record-breaking sales. This … Read more
Macy’s stock was rising Thursday after the department-store company posted a strong third quarter and raised its earnings forecast for the full year. Macy’s (ticker: M) reported fiscal third-quarter adjusted earnings of 52 cents a share on revenue of $5.23 billion, compared with earnings of $1.23 a share on sales of $5.44 billion last year. … Read more
Shares of Target Corp. TGT, +3.95% tumbled 14.0% in premarket trading Wednesday, after the discount broadline retailer reported fiscal third-quarter profit that was well below expectations even as revenue beat, and provided a downbeat same-store sales outlook for the current quarter. Net income for the quarter to Oct. 29 fell to $712 million, or $1.54 … Read more
Shares of Home Depot Inc. HD, -2.55% slumped 0.7% in premarket trading Tuesday, even after the home improvement retailer reported fiscal third-quarter earnings that beat expectations, citing strength in project-related categories, but kept its full-year outlook intact. Net income for the quarter to Oct. 30 rose to $4.34 billion, or $4.24 a share, from $4.13 … Read more
LukaTDB Circor International (NYSE:CIR) jumped 17% by 1:40 p.m. ET Thursday after the maker of industrial pumps and other equipment reported earnings that were better than Wall Street’s estimates. The stock had surged as much as 57% before giving back some of its gains. The company’s Q3 adjusted EPS of $0.69 beat estimates by $0.35. … Read more
Two-year-old Zion Gastelum died just days after dentists performed root canals and put crowns on six baby teeth at a clinic affiliated with a private equity firm. His parents sued the Kool Smiles dental clinic in Yuma, Arizona, and its private equity investor, FFL Partners. They argued the procedures were done needlessly, in keeping with … Read more
In something of a change this earnings season, an electric carmaker (other than Tesla) actually reported a profit for the quarter. Polestar (PSNY), the Swedish-based company backed by Volvo and China’s Geely, reported its first gross profit as a public company since completing its SPAC merger earlier this year. For the quarter, Polestar reported: Though … Read more