CompaniesBIO

Traders on the floor of the NYSE, Oct. 12, 2022. Source: NYSE The first crop of earnings reports was a disappointment, but most of the early bank reports on Friday were decent, and Bank of America also reported earnings above expectations Monday morning. Thirty- five companies have reported third -quarter earnings so far. Of that group, 68.5% have beaten estimates, lower than the prior four -quarter average of 78.1% but higher than the historic average of 66.2%, according to Refinitiv. Like the second quarter, many have been anticipating an earnings apocalypse — a dramatic collapse in earnings. The evidence so far suggests a contraction but not a collapse. The third-quarter estimated earnings growth rate for the S&P 500 is now 3.6%, down from 11.1% on July 1. Excluding energy, however, the growth rate drops to minus-3.1%. Those huge oil profits have concealed that nine of 11 S&P sectors have already seen downward earnings revisions. Technology has seen a substantial downwa...

In this article GOOGL META THC SIVB WHR SNAP RHI CSX Follow your favorite stocks CREATE FREE ACCOUNT Snapchat logo displayed on a phone screen is seen with a laptop in the background in this illustration photo taken in Krakow, Poland on August 10, 2022. Jakub Porzycki | Nurphoto | Getty Images Check out the companies making headlines in after-hours trading. Snap – The social media stock plummeted 25% after Snap's revenue came in lower than expected after the bell. The number of global daily active users came in higher than forecasted. The company&#x27 ;s third -quarter revenue was about 6% higher than last year. Meta and Alphabet also slid 4.7% and 2.6%, respectively. CSX – The transportation company is trading up 4.3% after it reported third-quarter results, posting beats on top and bottom lines. CSX reported 52 cents in adjusted earnings per share on revenue of $3.90 billion. Analysts predicted per-share earnings of 49 cents on revenue of $3.74 billion, according to Refi...

In this article IBM ALL T NVDA TSLA DDOG KMI Follow your favorite stocks CREATE FREE ACCOUNT Elon Musk looks at a robot display during a tour of the new Tesla Motors auto plant, formerly operated New United Motor Manufacturing Inc. (NUMMI), in Fremont, California, U.S., on Wednesday, Oct. 27, 2010. Bloomberg | Bloomberg | Getty Images Check out the companies making headlines in midday trading. AT&T – The telecom giant's stock jumped 7% after the company surpassed earnings and revenue estimates for the recent quarter. AT&T's wireless revenue rose 5.6%. Allstate – Shares of insurer Allstate fell 11% after the company said it would report a loss in the third quarter following Hurricane Ian, which struck in September and boosted catastrophe losses. Tesla – Shares of electric automaker Tesla fell 6% Thursday, a day after the company reported third -quarter earnings that fell short of Wall Street's expectations for revenue. Tesla also warned of a bottleneck for de...

In this article BAC AXP Follow your favorite stocks CREATE FREE ACCOUNT Shoppers carry bags in San Francisco, California, on Thursday, Sept. 29, 2022. David Paul Morris | Bloomberg | Getty Images U.S. consumers have demonstrated a willingness to continue to pay higher prices in the face of a sluggish economy that could be tipped into a recession, according to credit card giants American Express and Bank of America. American Express on Friday reported stronger-than-expected third -quarter earnings and revenue, while raising its full-year forecast. The company said overall customer spending jumped 21% year over year, driven by growth in goods and services as well as travel and entertainment. The demand for travel is particularly resilient as Americans make up for postponed trips due to the pandemic. Consumers are also splashing out on food and entertainment after pandemic lockdowns eased. American Express said its travel and entertainment segment saw spending climb 57% from a year ago ...

In this article GOOGL META THC SIVB WHR SNAP RHI CSX Follow your favorite stocks CREATE FREE ACCOUNT Snapchat logo displayed on a phone screen is seen with a laptop in the background in this illustration photo taken in Krakow, Poland on August 10, 2022. Jakub Porzycki | Nurphoto | Getty Images Check out the companies making headlines in after-hours trading. Snap – The social media stock plummeted 25% after Snap's revenue came in lower than expected after the bell. The number of global daily active users came in higher than forecasted. The company&#x27 ;s third -quarter revenue was about 6% higher than last year. Meta and Alphabet also slid 4.7% and 2.6%, respectively. CSX – The transportation company is trading up 4.3% after it reported third-quarter results, posting beats on top and bottom lines. CSX reported 52 cents in adjusted earnings per share on revenue of $3.90 billion. Analysts predicted per-share earnings of 49 cents on revenue of $3.74 billion, according to Refi...

In this article GNRC NFLX ISRG UAL IBKR WGO Follow your favorite stocks CREATE FREE ACCOUNT The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. Dado Ruvic | Reuters Check out the companies making headlines in midday trading. Generac — Shares were trading down 25% after the company cut its expected full-year revenue growth to a range of 22% to 24%, down from 36% to 40%, which is also below Wall Street expectations. The power company also reported preliminary third-quarter results, with earnings per share expected to come in at $1.75 compared to the $3.21 estimate. Netflix — Shares of the streaming media company soared more than 13% after the firm on Tuesday posted better-than-expected results on the top and bottom lines. Netflix also reported the addition of 2.41 million net global subscribers, more than doubling the adds the company had projected a quarter ago. Intuitive Surgical — Shares of the medical equipment maker rose 8.9% after th...

In this article WFC DAL BYND PNC HHC Follow your favorite stocks CREATE FREE ACCOUNT Delta Airlines passenger jets are pictured outside the newly completed 1.3 million-square foot $4 billion Delta Airlines Terminal C at LaGuardia Airport in New York, June 1, 2022. Mike Segar | Reuters Check out the companies making headlines in midday trading Friday. Albertsons — Shares of the Safeway owner dropped 7% on news that Kroger has agreed to purchase Albertsons in a deal valued at $24.6 billion, or $34.10 a share. Kroger 's shares slipped 4.8%. JPMorgan Chase — The bank gained 2.8% after topping estimates for the recent quarter. JPMorgan Chase said net interest income surged 34% to $17.6 billion in the period due to higher rates. Morgan Stanley — Morgan Stanley's stock slumped 4.6% after the bank posted weaker-than-expected third -quarter earnings . Revenue also fell short of expectations as a result of a decline in investment banking. Citigroup — Citigroup rose more than 1% afte...

An employee arranges Apple iPhones as customer shop at an Apple store. Mike Segar | Reuters Check out the companies making headlines in midday trading. Apple — The big technology stock shed 5% following a rare downgrade by Bank of America. The bank downgraded shares of the iPhone maker to neutral and cut its price target to $160 a share from $185, citing macroeconomic challenges ahead. related investing news Cooling demand means raising prices becomes a test of how well companies know their customers Robert Hum a day ago CarMax — The used auto dealer's shares plummeted 23.2% after it released second -quarter earnings below analyst expectations before the bell. The company&#x27 ;s earnings per share dropped to $0.79, down about 54% from a year ago. PG&E — Shares of the utility company were down about 1.8% after the company asked California regulators for permission to make its non-nuclear generating assets a separate subsidiary. Coinbase — Coinbase shares slid 8% after Wel...

U.S. stocks rallied Wednesday, as traders cheered better-than-expected economic data that slowed down the idea that a recession is inevitable. The Dow Jones Industrial Average rose 406 points, or 1.25%. The S&P 500 gained 1.46%, and the Nasdaq Composite increased 2.32%, boosted by rising tech stocks. Earnings season continued, giving investors hope that the market can recover. Moderna surged more than 15% and CVS Health gained nearly 5% after reporting earnings beats. Stocks rebound as investors cheer strong economic data Aug. 3, 2022 03:16 Comments from St. Louis Federal Reserve President James Bullard also boosted sentiment. He told CNBC Wednesday morning that he doesn’t think the U.S. is currently in a recession, and that rate hikes to tame high inflation will continue. “We’re going to have to see convincing evidence across the board, headline and other measures of core inflation , all coming down convincingly before we’ll be able to feel like we’re doing our job,” Bullard said...