Earnings
Bank of America downgrades Target as consumers pull back discretionary spending
Shares of Target could be under stress as consumers pull back spending in discretionary categories amid historically high inflation, according to Bank of America. Bank of America on Wednesday downgraded Target to neutral from buy. The firm also slashed its price objective on the stock to $165 from $235. The new price target implies just […]
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Credit Suisse issues profit warning for second quarter, citing Ukraine war and rate hikes
A sign above the entrance to the Credit Suisse Group AG headquarters in Zurich, Switzerland, on Monday, Nov. 1, 2021. Thi My Lien Nguyen | Bloomberg | Getty Images Credit Suisse said on Wednesday that it is likely to post a loss for the second quarter as the war in Ukraine and monetary policy tightening […]
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Target and Microsoft may be just the beginning of a worrisome earnings trend
Target is unlikely to be the only company with a bullseye on it during the upcoming earnings season. The retailer Tuesday warned for the second time in less than a month that its profits would take a hit from an inventory glut. The new guidance comes just days after Microsoft , in another high profile […]
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Stocks making the biggest moves in the premarket: Target, J.M. Smucker, Kohl’s and more
Take a look at some of the biggest movers in the premarket: Target (TGT) – Target announced a series of moves to “right-size” its inventory levels, including additional markdowns and canceling orders. It cut its operating margin guidance for the current quarter to 2% from the prior 5.3% but said the margin would recover to […]
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Stocks making the biggest moves in the premarket: Spirit Airlines, Didi Global, Keurig Dr Pepper and more
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit jumped 6.1% in the premarket after JetBlue (JBLU) sweetened its bid for Spirit. JetBlue will increase its breakup fee for the deal to $350 million and pay part of that as a dividend if the deal is consummated, […]
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Elliott Associates sues LME for $456 mln over nickel trading halt: HKEX
LEON NEAL | AFP | Getty Images Fund manager Elliott Associates has sued London Metal Exchange (LME) for $456 million following the suspension and cancellation of nickel trades on the platform owned by Hong Kong Exchanges and Clearing Ltd, the Hong Kong bourse said on Monday. LME and LME Clear Limited have been named as […]
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Investors set their sights on upcoming inflation report as the bear market rally falters
The stock market may try to regain its footing in the next few sessions, even as a fresh inflation report looms large at the end of the week. Stocks struggled to move forward in the past week. With Friday’s sell-off, the major indexes closed out the four-day period with losses. That was disappointing to investors […]
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Stocks making the biggest moves premarket: Turning Point Therapeutics, Lululemon, RH and others
Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. Lululemon (LULU) – Lululemon shares rose […]
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Lululemon raises guidance for the year as earnings and sales beat expectations
Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai. Alex Tai | SOPA Images | LightRocket | Getty Images Lululemon on Thursday reported fiscal-first quarter profit and revenue that outpaced Wall Street’s expectations, boosted by growth online and in the retailer’s men’s division. The athletic apparel retailer also raised its outlook for fiscal […]
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Microsoft lowers fourth-quarter guidance, citing unfavorable foreign exchange rates
Satya Nadella, chief executive officer of Microsoft Corp., appears at a panel session at the World Economic Forum in Davos, Switzerland, on May 24, 2022. Hollie Adams | Bloomberg | Getty Images Microsoft shares slid more than 3% on Thursday after the company lowered its fiscal fourth-quarter guidance, citing unfavorable foreign exchange rate movement. In […]
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