Constellation Brands recently reported an earnings beat driven by the strength in its beer business. Despite this positive news, the company’s shares fell by 4% following the report. The beer segment of Constellation Brands, which includes popular Mexican brands such as Modelo, Corona, and Pacifico, has been a key driver of growth for the company.
Earnings
Walgreens, a retail pharmacy giant, experienced a sharp decline in its shares by almost 20% following its disappointing fiscal third-quarter earnings report. The company cited a challenging environment for pharmacies and U.S. consumers as the primary reasons for its underperformance. CEO Tim Wentworth mentioned that the consumer’s resistance to current pricing and the shocking prices
H&M, the world’s second largest retailer, reported a smaller-than-expected increase in second-quarter profits, leading to a significant drop in their stock price. Operating profit for the period fell short of analysts’ expectations, causing shares to plummet over 13%. The company also expressed concerns about its June sales, citing bad weather as a potential hurdle. H&M
Southwest Airlines faced a setback as its shares plummeted by approximately 4% in premarket trading after announcing a revision in its second-quarter revenue forecast. The airline cited changing booking patterns as the reason behind the adjustment. This revision led to a decrease in the expected revenue per available seat mile, with a projected decline of
Casual-dining chains are experiencing a surge in customer traffic as individuals become increasingly dissatisfied with the rising prices at fast-food establishments. Darden Restaurants CEO, Rick Cardenas, highlighted this trend, noting that while Darden itself has not directly benefited from this shift, competitors like Brinker International, the parent company of Chili’s, and Dine Brands, which owns
Adobe shares experienced a significant surge of 15% following the release of their quarterly earnings report, marking the largest gain since March 2020. The software giant surpassed analysts’ expectations with adjusted earnings per share of $4.48, exceeding the consensus estimate of $4.39 per share. Additionally, Adobe reported a 10% increase in revenue compared to the
On Thursday, U.S. stocks experienced a mixed performance as investors reacted to the release of May’s producer price index data. This data indicated that inflation pressures may be easing, leading to some uncertainty among traders. While the S&P 500 edged lower, it still hovered near record highs, reflecting the cautious optimism prevailing in the market.
Broadcom recently released their earnings report for the second fiscal quarter, exceeding analysts’ expectations. The company reported an adjusted earnings per share of $10.96, surpassing the estimated $10.84, and revenue of $12.49 billion compared to the expected $12.03 billion. In addition to their impressive financial performance, Broadcom announced a 10-for-1 stock split. This move is
Oracle Chairman Larry Ellison’s net worth soared by nearly $19 billion as the software giant announced double-digit revenue growth for the fiscal year. This news caused Oracle’s stock to experience its most significant rally since 2021, reaching a record high of $140.38 per share on Wednesday. Despite stepping down as CEO a decade ago, Ellison
Despite falling short of Wall Street expectations in terms of earnings per share and revenue, Oracle managed to increase its revenue by 3% year over year during the fourth quarter. The company reported earnings per share of $1.63 adjusted compared to the expected $1.65, and revenue of $14.29 billion against the expected $14.55 billion. Oracle’s