The market is showing signs of recovery following a selloff on Friday, with hopes that the conflict in the Middle East will not escalate further after Iran’s attacks on Israel. Meanwhile, oil prices are pulling back on these expectations, providing some relief to investors. Despite a slight uptick in consumer inflation, retail sales soared by
Earnings
Wells Fargo recently released its first-quarter earnings report, exceeding expectations set by Wall Street analysts. The company reported an adjusted earnings per share of $1.26 cents, compared to the expected $1.11 cents. Additionally, revenue came in at $20.86 billion, surpassing the $20.20 billion estimate. Despite these positive numbers, shares of Wells initially dipped in premarket
Taiwan Semiconductor Manufacturing Co. (TMSC) experienced a significant surge in monthly revenue in March, reaching 195.2 billion new Taiwan dollars ($6.1 billion). This represents a year-on-year increase of 34.3%, marking the fastest growth pace since November 2022. In the first quarter of the year, TSMC’s revenue totaled 592.6 billion new Taiwan dollars, up by 16.5%
Foxconn, also known as Hon Hai Precision Industry, recently announced a 9.6% decrease in revenue for the first quarter of 2024, compared to the same period last year. The company reported a total revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which also marked a significant 28.58% drop from the fourth quarter of the
ClearBank, a British financial technology firm, recently announced its first full year of profit, thanks to a substantial increase in revenues driven by higher interest rates. The company reported a pre-tax profit of £18.4 million ($23.3 million) in the year ending Dec. 31, 2023, a significant improvement from the £7.1 million loss in the previous
Walgreens recently reported its fiscal second-quarter sales results, which exceeded Wall Street’s expectations. However, the company decided to adjust its full-year adjusted earnings outlook, mainly due to the challenging retail environment in the U.S. Despite a high net loss for the quarter and impairment charges related to VillageMD clinics, Walgreens is focused on transforming from
Shares of H&M saw a remarkable 14% surge in early trading on Wednesday following the release of their first quarter financial results. The company exceeded profit expectations with an operating profit of 2.08 billion Swedish kronor ($196 million), far surpassing the forecast of 1.43 billion kronor. This impressive performance saw the company’s operating margin rise
Nike, a global leader in athletic footwear and apparel, recently released its quarterly earnings report which revealed a mixed bag of results. While the company exceeded Wall Street’s expectations in terms of both earnings per share and revenue, there are concerning signs emerging from its key markets, particularly China. Nike’s performance in North America was
Micron experienced a significant surge of over 14% in extended trading following the announcement of its second-quarter fiscal 2024 results. These results not only surpassed analysts’ expectations but also included promising guidance for the future. The company, known for manufacturing memory and storage solutions for computers, attributed its success to the flourishing artificial intelligence industry.