UnitedHealth, the largest U.S. health insurer, reported a stronger-than-expected quarterly profit and raised its full-year earnings forecast, helped by strength in its pharmacy benefit management business. UnitedHealth, the bellwether for the industry, is the first health insurer to report earnings a week after U.S. President Donald Trump decided to cut off subsidies to health insurance
U.S. motorcycle maker Harley-Davidson reported a better-than-expected quarterly profit on Tuesday and maintained its full-year shipments forecast, despite prolonged weak demand in its home market. Harley’s U.S. retail motorcycle sales, or sales by dealers to customers, fell 8.1 percent in the third quarter ended Sept. 24. The company’s total global retail sales dipped 6.9 percent.
Shares of Michael Kors have bucked the downward retail trend this year, rising nearly 12 percent. By comparison, the SPDR S&P Retail exchange-traded fund (XRT) is down 8.8 percent in 2017. Camilo Lyon, an analyst at Canaccord Genuity, recently raised his price target on Kors share to $58 from $43. “We believe the strategic steps
Regional lender PNC Financial Services, the sixth-largest U.S. bank by assets, reported a stronger-than-expected quarterly profit on Friday as higher Federal Reserve interest rates boosted the bank’s income. Banks in the United States have got a much-needed boost from the Federal Reserve raising interest rates. The Fed has increased rates three times since the second
Wells Fargo reported third quarter revenue that missed expectations Friday, sending shares lower. The bank reported: Earnings per share of $1.04, ex-items, vs. the $1.03 a share expected by analysts polled by Reuters. Revenue of $21.93 billion, vs. $22.4 billion expected. Revenue fell 2 percent from the same quarter last year. Shares fell more than
Domino’s, the biggest U.S. pizza delivery chain, reported a better-than-expected quarterly profit on Thursday as the company benefited from higher demand in the United States. Same-store sales at company-owned outlets in the United States, Domino’s biggest source of store revenue, jumped 8.4 percent in the third quarter ended Sept. 10. This was above the 6.6
Citi reported a 3 percent year-over-year increase in global consumer banking revenue. In North America, retail banking revenue rose 12 percent, excluding mortgages. Citi cited “continued growth in loans and assets under management,” as well as higher interest rates. The bank’s international consumer business saw an 8 percent revenue increase, driven by higher loans and
Ramin Talaie | Corbis | Getty Images Delta Airlines planes taxi at Hartsfield-Jackson Atlanta International Airport in Atlanta, GA. Delta Air Lines on Wednesday posted third-quarter earnings and revenue that topped Wall Street expectations. The No. 2 U.S. airline reported adjusted earnings per share of $1.57, beating analysts’ expectations of $1.53 a share for a
Goldman Sachs could be a winner this earnings season even with weaker revenues, while General Electric could be a loser, with a rare profit miss, according to Morgan Stanley. Morgan Stanley equity strategists picked nine stocks they believe could be near-term movers in the early weeks of earnings season, either due to earnings or other
Costco implemented its annual membership fee increase by $5-$60 for Goldstar and business members, and by $10-$120 for executive memberships in the quarter. Membership fees, which accounted for about 72 percent of Costco’s operating income in 2016, rose 13 percent in the 17-week fourth quarter ended Sept. 3. Excluding the impact of fuel and currency
Yum China‘s quarterly same-store sales beat estimates, driven by strong sales at its KFC restaurants, and the company said its CEO Micky Pant would step down. Joey Wat, currently the company’s chief operating officer, will take over as CEO, Yum China said. Net income rose to $211 million from $192 million in the third quarter
Constellation Brands posted a quarterly profit that beat Wall Street estimates for a ninth straight time and raised its profit outlook, as margins rose on the sale of more premium beers and breweries ran at peak levels in the summer. Shares of the company are up 4 percent at $209 in early trade, hovering near
U.S. seeds and agrochemicals company Monsanto, which is being acquired by Germany’s Bayer, reported a quarterly profit, compared with a year-ago loss, helped by sales of corn and soybean seeds. The world’s largest seed supplier’s shares were up about 1 percent at $120.65 in premarket trading on Wednesday. Monsanto said sales of corn seeds and
PepsiCo reported weaker-than-expected North American beverage sales, as the beverage giant struggled to toe the line between defending its core brands against spending to promote its newer ones. Pepsi also blamed declining store traffic and a colder summer decreasing demand for its historically strong performing Gatorade drinks “This summer, we directed too much of our
Lennar, the No.2 U.S. homebuilder, reported a higher-than-expected quarterly profit on Tuesday as it sold more homes at higher prices. The shares of the company were up 2.7 percent at $54.25 in light premarket trading. Home orders, a key indicator of future revenue, rose 8.4 percent to 7,610 homes in the third quarter ended Aug.
While Olive Garden’s same-store sales grew 1.9 percent in the first quarter, its 12th-consecutive quarter of positive growth, they fell short of Wall Street’s expectation of 2.5 percent, according to StreetAccount. Darden said that Olive Garden’s same-store sales would have been up 2.2 percent if not for Hurricane Harvey. Darden’s Bahama Breeze also saw same-store
General Mills reported a smaller-than-expected quarterly profit, hurt by lower sales of its yogurts and cereals in North America. The Cheerios cereal maker’s shares fell 4.3 percent to $53 in premarket trading on Wednesday. General Mills said its U.S. yogurt sales recorded a double-digit drop as demand for Yoplait Greek and Yoplait Light products remained
Oracle was the worst-performing stock in the S&P 500 on Friday, tumbling more than 6 percent in its worst day in 4 years. The company reported stronger-than-expected earnings on Thursday for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for
Then-Southwest Airlines CFO Laura Wright said in October 2005 that the company lost between $15 million and $20 million due to the travel shutdowns following Katrina and Rita. Still, the year-over-year figures were not impacted “due to a similar impact from the four hurricanes we had in the third quarter of last year,” she said.
Oracle stock rose by nearly 2 percent in extended trading Thursday immediately after the company reported stronger-than-expected earnings for the first quarter of its 2018 fiscal year, which ended on August 31. But the stock turned negative after the company gave guidance for the next quarter. EPS: Excluding certain items, 62 cents in earnings per
Kroger shares dove Friday after the grocer’s second-quarter profit slid near 8 percent as it slashed prices amid growing competition in the sector. Kroger’s stock was down 7.8 percent Friday morning. Here’s what Kroger reported compared with what Wall Street was expecting, based on a Thomson Reuters survey of analysts: Earnings of 39 cents a
Disney CEO Bog Iger warned profits this year would be similar to last year, sending shares of the media giant and others in the industry tumbling on Wednesday. Iger said the company will report earnings per share this year “roughly in line” with what Disney generated in fiscal year 2016 at the Bank of America
GoPro said Thursday that revenue and gross margin for the third quarter are expected to be at the high end of their previously announced ranges. The struggling action camera maker sees Q3 revenue of $290 million to $310 million and gross margins at 36 to 38 percent. GoPro also forecasts a profitable third quarter on
Canadian yoga and leisure apparel maker Lululemon Athletica reported quarterly profit and sales on Thursday that topped expectations as online sales surged 30 percent thanks to an effort to beef up its e-commerce strategy, and the company raised its outlook. The results helped ease concerns the “athleisure” trend popularized by Lululemon may be cooling. Shares,
Best Buy reported second-quarter earnings and sales on Tuesday that topped analysts’ expectations. Looking ahead, the company also raised its revenue outlook for the full year, and said stronger shopper demand for its technology products, such as smartphones and wearable devices, boosted its sales at established stores over the period. Then, on a call with
Shares of J.M. Smucker and Hormel Foods fell sharply Thursday after weaker-than-expected earnings as consumers continue to turn down packaged foods in favor fresher offerings, especially as Amazon prepares to take over organic grocery chain Whole Foods Market. Shares of Smucker slid nearly 9 percent while shares of Hormel fell 5.3 percent in afternoon trade
Dollar Tree reported better-than-expected quarterly profit and comparable sales, helped by lower costs and discounts as well as a 1 percent rise in same-store sales at its Family Dollar business. Shares of the biggest U.S. dollar-store chain operator rose 9 percent to $81.04 in premarket trading on Thursday after the company raised its profit and
Tiffany reported bigger-than-expected quarterly profit and sales on Thursday, helped in part by higher demand for its fashion and designer jewelry in Japan and lower input costs. Sales at established stores open for more than a year fell 2 percent, steeper than the 1 percent fall expected by analysts polled by research firm Consensus Metrix.
“This has been an unusually disappointing quarter for retailers, with only about half of the companies beating estimates, while over 70 percent in the S&P 500 have beaten those estimates. This is the last week where we could see some positive surprises,” said Erin Gibbs, portfolio manager at S&P Global. Some of the weakness seen
Uber trimmed its losses 14 percent in the second quarter from a year ago, as the ride-hailing giant grew bookings, trips and revenue. The company posted a net loss of $645 million on revenue of $1.75 billion. Revenue this time last year was $800 million. Global trips popped 150 percent from a year ago, while