News

Corporate Earnings

Dollar Tree To Raise Base Prices to $1.25

Kimberly Redmond | Equities.com |

Faced with the rising cost of goods and freight, discount retailer Dollar Tree Inc (Nasdaq: DLTR) plans to increase its baseline price from $1.00 to $1.25.

On Tuesday, the Chesapeake, Virginia-based chain said it has begun marking up merchandise at its 8,000 US stores, the latest sign that higher manufacturing and transportation costs are trickling down to consumers.


Restaurant Brands International Misses Revenue Estimates; Cites Staffing Shortage, COVID-19

Reuters | Equities.com |

Burger King and Tim Hortons are struggling with a staffing crunch and the Delta variant keeping coffee-loving office workers at home, causing parent Restaurant Brands International Inc (QSR), to miss estimates for quarterly revenue on Monday.

U.S.-listed shares shed 4.4% as same-store sales at its Burger King, Tim Hortons and Popeyes chains came in below expectations in the third quarter.


JPMorgan Misses on Third Quarter Revenue, Beats Earnings Estimates With One-Time Items

AP News | Equities.com |

JPMorgan Chase posted a 24% jump in third-quarter profits on Wednesday, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels.

The nation’s largest bank by assets said it earned a profit of $11.69 billion, or $3.74 per share, compared with a profit of $9.44 billion, or $2.92 per share, in the same period a year earlier. The bank had two one-time items that helped boost its profits this quarter: a $566 million income tax benefit and the release of $2.1 billion from its troubled loans books, something the JPMorgan has been doing every three months since the U.S. economy started recovering from the pandemic.


BlackRock Beats Q3 Profit Estimates, But Asset Growth Flattens

Reuters | Equities.com |

BlackRock Inc topped third-quarter profit estimates helped by robust performance fees and strong demand for its actively managed and sustainable funds, even as volatile markets hindered the world's largest money manager from growing its assets under management.

Asset managers have benefited from rising global financial markets in recent quarters as investors put money to work, making the most of the post-pandemic economic reopening, driven by progress on vaccinations and strong fiscal and monetary aid.


American Eagle Misses Q2 Estimates as Online Sales Fall and Shoppers Return to Stores

Reuters | Equities.com |

p> American Eagle Outfitters Inc's quarterly revenue missed estimates on Thursday as its online sales took a hit from shoppers returning to physical stores on easing pandemic curbs, sending the shares of the apparel chain down 10%.

The company's second-quarter digital sales fell 5% from a year earlier, also hit by stiff e-commerce competition from firms including Amazon.com Inc and Poshmark, although it remained higher compared with pre-pandemic levels.


Broadcom Beats Fiscal Q3 Estimates, Raises Q4 Forecast

Reuters | Equities.com |

Broadcom Inc forecast fourth-quarter revenue above Wall Street expectations on Thursday, betting on strong demand for its semiconductors from the adoption of 5G technology and a shift to hybrid work models.

Broadcom's efforts to diversify revenue by ramping up investments in its software business has insulated the company from being heavily impacted by supply chain disruptions.


Peloton Shares Drop 10.6% in After Hours Trading With Worse-Than-Expected Quarterly Loss

AP News | Equities.com |

Peloton’s shares skidded in aftermarket trading Thursday after the exercise bike and treadmill company posted a loss for its most-recent quarter, showed slower revenue growth, and cut the price of its most popular product.

Peloton Interactive Inc. reported a net loss of $313.2 million in the quarter that ended June 30. That compared to a profit of $89.1 million the same period last year. A portion of the latest quarter’s loss stemmed from the company having to recall its treadmill machine after it was linked to a death of a child and numerous injuries.


Salesforce Beats Fiscal Q2 Estimates; Raises Guidance for Q3

Reuters | Equities.com |

Salesforce.com Inc on Wednesday signaled the shift to hybrid work would keep demand for its cloud-based software strong in the third quarter, after trumping market expectations for earnings in the May-July period.

The business software maker's revenue has gone from strength to strength over the past year, with the rise of automation and artificial intelligence likely to keep that momentum going even as vaccine rollouts gather force and offices reopen.


Deere Beats Fiscal Q3 Earnings Estimates; Raises Full-Year Forecast

Reuters | Equities.com |

Deere & Co on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of strong demand for farm and construction equipment.

The world's largest farm equipment manufacturer now expects net income in fiscal 2021 to be between $5.7 billion and $5.9 billion, up from a range of $5.3 billion and $5.7 billion forecast in May. This is the third upgrade in the company's earnings estimate in seven months.


Geely Automobile Warns of Short-Term Semiconductor Hit But Reiterates Annual Sales Target

Reuters | Equities.com |

The company's upbeat forecast and a strong first-half revenue growth helped send shares of the Hangzhou-based car maker up nearly 4%.

Geely posted a 22% rise in six-month revenue to end-June of 45 billion yuan ($6.94 billion), driven by an improved product mix.


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