Stocks fell on Tuesday as investors navigated a batch of disappointing company reports ahead of a key inflation reading. The S&P 500 fell 0.42% to 4,122.47, while the Nasdaq Composite dropped 1.19% to 12,493.93. The Dow Jones Industrial Average shed 58.13 points, or 0.18%, to close at 32,774.41. The declines came after memory chipmaker Micron … Read more
A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted … Read more
Ubisoft has signed a huge new licensing deal that is expected to significantly accelerate its mobile earnings. VIEW GALLERY – 2 IMAGES Today Ubisoft announced a substantial partnership that will help boost its mobile presence. The publisher has signed a licensing deal with an unnamed publisher and/or developer to make a new mobile game based … Read more
More than 80% of the S&P 500 index’s companies have reported second-quarter results so far, and at least five key takeaways have emerged — including that Wall Street was far more worried about the coming earnings season than it needed to be. That doesn’t mean investors were wrong; the numbers and management commentary have confirmed … Read more
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Morgan Stanley US equity strategist Michael Wilson sees equity returns for the remainder of 2022 as a race against time. In simple terms, the Federal Reserve needs to squash inflation before an economic slowdown forces corporate America to cut profit forecasts en masse. mr. Wilson identified three negative trends during the ongoing S&P 500 quarterly … Read more
By Adriano Marchese Stocks in Toronto were near-flat in midday trading Thursday. Canada’s energy sector posted the largest decline in the session, while materials and technology led the gainers. Shares of Maple Leaf Foods Inc. fell after the company said inflation and labor issues weighed on its second quarter. Canada’s S&P/TSX Composite Index was up … Read more
By Adriano Marchese Stocks in Toronto were near-flat in midday trading Thursday. Canada’s energy sector posted the largest decline in the session, while materials and technology led the gainers. Shares of Maple Leaf Foods Inc. fell after the company said inflation and labor issues weighed on its second quarter. Canada’s S&P/TSX Composite Index was up … Read more
Talk of a potential listing for Burjeel Holdings comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year. Bloomberg | Bloomberg | Getty Images DUBAI, United Arab Emirates — Indian billionaire Shamsheer Vayalil is accelerating plans to take Burjeel Holdings public after … Read more
By Michael Susana Instem PLC said Thursday that it expects to report a 40% increase in revenue for the first half of 2022, but that operating profit growth is likely slow due to inflationary pressures. The company, which provides IT services to the life-sciences industry, said it expects combined organic and inorganic revenue for the … Read more
People walk by a CVS Pharmacy store in the Manhattan borough of New York City. Shannon Stapleton | Reuters CVS Health on Wednesday lifted its earnings outlook for the year, after beating Wall Street’s expectations for the fiscal second quarter. The health-care company said it now expects adjusted earnings per share for the full year … Read more