When package-deliverer FedEx Corp. reports its third-quarter earnings on Thursday, the results won’t just be about the state of shipping. They’ll be about all the state of people and businesses that still want it, after e-commerce demand cooled off last year and FedEx FDX, -2.66% itself embarked on a quest to slash billions in costs….
Federal Reserve Chairman Jerome Powell set the stage for further rounds of interest-rate increases on March 7, sending bond yields higher and stock prices lower. Below are lists of the day’s biggest losers among the broad U.S. stock indexes. Bank stocks were hit particularly hard, as investors considered the Fed’s efforts to slow the economy…
Nvidia Corp.’s financial chief reasons that the efficiencies businesses need are not from spending less money, but from spending more on technologies like artificial intelligence, even as chip sales dry up. “AI is in an inflection point,” Nvidia’s NVDA, -1.41% Colette Kress told Morgan Stanley’s Technology Media and Telecom Conference on Monday. “We’ve now incurred…
Arm Ltd., the British chip designer owned by Japan’s SoftBank Group Corp., is seeking to raise at least $8 billion in an upcoming U.S. initial public offering, according to a new report Sunday. Reuters reported that Arm is expected to confidentially file for an IPO in April, with a public listing expected later this year,…
Shares of payment-technology company Block Inc. turned around and were rallying sharply in after-hours action Thursday, with one analyst noting that the company’s forecast likely came as a relief. The company reported a fourth-quarter net loss of $114 million, or 19 cents a share, whereas it posted a net loss of $77 million in the…
Nvidia Corp. shares jumped in after-hours trading Wednesday, as the graphics-chip specialist revealed it has mostly settled inventory issues and is focusing on opportunities in artificial intelligence. Nvidia NVDA, +0.48% founder and Chief Executive Jensen Huang revealed in a conference call Wednesday afternoon that Nvidia’s AI software will now be available in several cloud-computing offerings,…
LG Energy Solution Ltd. 373220, -1.35% on Wednesday said it has signed a memorandum of understanding with Ford Motor Co. F, -5.35% and its Turkish partner KOC Holding A.S. KCHOL.E, -1.18% to launch a battery-making joint venture in Turkey. The joint venture plant, to be built near the Turkish capital Ankara by 2026, will produce…
Welcome back from a three-day break honoring America’s founding father, which one congresswoman decided to celebrate by proposing a national divorce. Would a blue and red state split be good for stocks? Bad probably for defense contractors but there would be whole new asset classes opening up, so who knows. Investors tend to reward spinoffs,…
The nation’s retailers limped into last year’s holiday season with too much stuff that people didn’t want. We’re about to find out how much of it they were able to get rid of, and how much an avalanche of markdowns hurt profits. Results from the likes of Walmart Inc. WMT, +1.50%, Home Depot Inc. HD,…
Investors always face contradictory forces in the stock market, and this recovery year of 2023 has been marked by a “bad news is good news” mentality, with sentiment directed toward an eventual decline in interest rates. For investors who grew used to better returns in the U.S. during the long bull market that ended last…
Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP, +2.00% for Thursday. The S&P 500 SPX, +1.05% is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com,…
Advanced Micro Devices Inc. may have unleashed a collective sigh of relief on Wall Street with its results, but the data-center weakness that helped trash Intel Corp.’s earnings last week is still showing up as a dip in the first half of AMD’s 2023. Late Tuesday, AMD AMD reported modest results compared with Wall Street…
In the biggest week of the holiday-earnings season, Big Tech results will receive the spotlight amid thousands of layoffs that could only be the beginning. After tech stocks were decimated in 2022, investors will be looking for signs of a turnaround in holiday reports and potential forecasts for the year ahead from three of 2022’s…
Advanced Micro Devices Inc. gets to show Wall Street if it “certainly” ended 2022 in a better place, after the price of clearing inventory helped gut results from rival Intel Corp. AMD AMD, +0.32% is scheduled to report earnings after the close of markets on Tuesday. AMD Chief Executive Lisa Su said three months ago…
“We have written the phrase ‘Worst earnings report in our history of covering this company’ on more than one occasion over the last couple of years. But this time we REALLY mean it…” That was the comment from a team of analysts at Bernstein, led by Stacy Rasgon, and a sampling of shock waves rippling…
Intel Corp. shares dropped more than 9% in the extended session Thursday after the chip maker reported a big miss for the fourth quarter, forecast a loss for the first quarter, said the data-center market was contracting and that inventory digestion will gnaw at margins. Intel INTC, +1.31% executives forecast an adjusted loss of 15…
The consumer electronics industry is getting new life from an old product: laptops. Although the changes are evolutionary rather than revolutionary, they’re substantial enough to make the laptop sector more competitive with the desktop PC sector of the market. This is especially significant as global PC sales tumbled 19.5% in the third quarter of 2022…
After slowing its pace of hiring last year, Spotify Technology SA is planning layoffs as soon as this week, according to a new report, adding to the wave of jobs cuts sweeping across the tech industry. Citing people familiar with the plans, Bloomberg News reported late Sunday that the streaming music service faces imminent job…
After one of the worst years in Wall Street’s history, investors have some serious questions for companies. As holiday returns roll in — and with them, forecasts for the months or year ahead — many have the chance to answer those questions, or avoid them. In the busiest week of the holiday-earnings season so far,…
Stocks are setting up for a third straight losing session after data sparked fears that the economy is losing steam, while the Fed pushes on with interest rate hikes. Or as CNBC commentator Ron Insana put it: On that front, our call of the day from Jefferies tackles that idea. “Disinflation is a key assumption…