The recent optimism surrounding the Federal Reserve’s potential decision to lower interest rates has had a significant impact on the stock market. With the likelihood of a rate cut by September standing at 100%, traders have been pushing stocks to new highs, as seen with the Dow Jones Industrial Average and the S&P 500 reaching
Earnings
Adidas stocks saw a significant boost after the company’s announcement of an increase in its full-year 2024 earnings guidance. The shares surged by 4.42% at 9:07 a.m. London time, showcasing investor confidence in the brand’s future prospects. Adidas reported a remarkable 11% increase in revenues for the second quarter, surpassing expectations. The company also witnessed
ASML recently reported second-quarter earnings and sales that surpassed expectations, with net sales reaching 6.24 billion euros compared to the anticipated 6.03 billion euros. Similarly, net profit came in at 1.58 billion euros, exceeding the estimated 1.43 billion euros. These figures showcase ASML’s ability to thrive in the semiconductor market, particularly as interest in artificial
Bank of America reported a second-quarter performance that surpassed expectations, with earnings coming in at 83 cents a share, higher than the estimated 80 cents a share. The revenue also showed growth, reaching $25.54 billion compared to the estimated $25.22 billion. Despite a 6.9% decrease in profit from the previous year, the bank managed to
Burberry, a renowned British luxury brand with a history spanning over 168 years, faced a significant setback as its shares plummeted by over 15% following a lackluster first-quarter performance. The company issued a profit warning, signaling a potential operating loss for the first half of the year and a full-year operating profit below market expectations.
The week started off on a positive note for U.S. stocks, with the S & P 500 rebounding from a recent downturn. This followed a seven-day win streak being broken as investors shifted their focus from Big Tech names to smaller-cap stocks. Nvidia, a Club holding, experienced a 5% drop but managed to recover with
Citigroup surprised investors on Friday with its second-quarter results, surpassing expectations for both profit and revenue. The bank reported earnings of $1.52 per share, higher than the $1.39 per share that was expected. Additionally, Citigroup’s revenue came in at $20.14 billion, slightly beating the expected $20.07 billion. The bank saw a 10% increase in net
PepsiCo recently reported mixed quarterly results which were adversely affected by decreasing demand for its products in North America. The company also adjusted its revenue outlook for the full year, now expecting organic revenue growth of approximately 4%, a more conservative estimate compared to its previous forecast of at least 4%. Despite this, PepsiCo reiterated
The CNBC Investing Club with Jim Cramer held its “Morning Meeting” livestream, where crucial market developments were discussed. Thursday saw a decline in the S & P 500 and Nasdaq from their record highs, driven by a lower-than-expected inflation report. This led investors to shift from Big Tech stocks to smaller-cap names, impacting Club holdings
Delta Air Lines recently announced its forecast for record revenue in the third quarter, highlighting the strong summer travel demand. However, this projection fell below analysts’ estimates due to various factors. The carrier expects a sales increase of no more than 4%, which is lower than the 5.8% growth estimated by analysts. It also forecasted