3:57 a.m. Today3:57 a.m. May 12, 2021
Guinness Maker Diageo Restarts Buybacks After Strong Recovery. The Stock Is Rising.
The Johnnie Walker and Smirnoff maker was upbeat in its full-year profit guidance.
3:56 a.m. Today3:56 a.m. May 12, 2021
- By Tomi Kilgore
International Flavor & Fragrances boosts inflation outlook, seeks price increases from customersInternational Flavor & Fragrances Inc. reported first quarter earnings that beat expectations, but gross margin fell from a year ago as price increases weren't enough to make up for higher-than-expected inflation.
3:55 a.m. Today3:55 a.m. May 12, 2021
- By Tonya Garcia
Macy's proposes $235 million NYC neighborhood upgrade and office tower addition to its flagship storeMacy's proposal includes improved transit access to the famed Herald Square location, known as the stage for the annual Thanksgiving parade.
3:47 a.m. Today3:47 a.m. May 12, 2021
- By Mike Murphy
Jeff Bezos has sold $6.7 billion in Amazon shares over the past weekAmazon.com Inc. Chief Executive Jeff Bezos sold roughly $6.7 billion worth of shares in his company over the past week, his largest concentrated disposal of shares since his divorce.
3:44 a.m. Today3:44 a.m. May 12, 2021
- By Rupert Steiner
A Goldman Sachs boss has reportedly quit after making millions on dogecoinThe bank confirmed Aziz McMahon, head of emerging market sales, has left — he made a "substantial sum," according to some reports.
3:37 a.m. Today3:37 a.m. May 12, 2021
- By Callum Keown
Guinness parent Diageo restarts plan to return $6.4 billion to shareholders amid strong reboundGuinness owner Diageo said it would resume plans to return £4.5 billion to shareholders, as its recovery from the COVID-19 pandemic continues to gather pace.
3:31 a.m. Today3:31 a.m. May 12, 2021
- By Tonya Garcia
Wendy's increases its dividend, share repurchase program and guidanceWendy's Co. shares rose 4.8% in Wednesday premarket trading after the fast-food chain reported first-quarter earnings that beat expectations and raised its guidance. Net income totaled $41.4 million, or 18 cents per share, up from $14.4 million, or 6 cents per share, last year. Adjusted EPS of 20 cents beat the FactSet consensus for 15 cents. Revenue of $460.2 million was up from $405.0 million last year and also ahead of the FactSet consensus for $445.0 million. Global same-restaurant sales rose 13% with the U.S. up 13.5% and international sales up 7.9%. The FactSet consensus was for global 14.5% growth with the U.S. up 12%. Wendy's raised its dividend by 11% to 10 cents per share, payable on June 15, 2021 to shareholders of record as of June 1, 2021. As of May 5, there were 221 million shares outstanding. The company also raised its share repurchase plan by $50 million to a total of $150 million. And Wendy's raised its full-year guidance. The company now expects adjusted EPS of 72 cents to 74 cents, and 8%-to-10% global systemwide sales growth. The company was previously guiding for 6%-to-8% sales growth. The FactSet consensus is for EPS of 69 cents and sales of $1.817 billion, implying 4.8% growth. Wendy's stock has gained 4% for the year to date while the S&P 500 index is up 10.5% for the period.
3:23 a.m. Today3:23 a.m. May 12, 2021
There's a Lot Riding On Disney+ When Disney Reports on Thursday
Wall Street expects to see about 14 million new Disney+ subscribers in Walt Disney's latest quarter. The market isn't so sure momentum will be sustained.
3:05 a.m. Today3:05 a.m. May 12, 2021
- By Philip van Doorn
Why the pullback in semiconductor stocks could offer investors a big opportunityChip makers can be volatile in the stock market, but they have rewarded investors well. And now there's a shortage for their products across many critical industries.
CORRECT: Wendy's Q1 same-store sales up 13.0%; FactSet consensus up 9.6%
3:02 a.m. Today3:02 a.m. May 12, 2021
CORRECT: Wendy's Q1 U.S. same-store sales up 13.5%; FactSet consensus up 10.4%
3:02 a.m. Today3:02 a.m. May 12, 2021
2:17 a.m. Today2:17 a.m. May 12, 2021
U.S. Futures Point Lower and Asian Stocks Slide Ahead of Key Inflation Reading
European stocks have rebounded from their worst day in 2021.
1:29 a.m. Today1:29 a.m. May 12, 2021
- By Jack Denton
European stocks rebound from worst day in 2021, as U.S. futures remain negativeStocks in Europe inched higher on Wednesday, rebounding slightly from the worst trading day of 2021 as U.S. stock market futures remain set to open lower.
10:23 p.m. May 11, 2021
Diageo reinstates buybacks, upbeat on profit viewDiageo PLC said Wednesday that it expects to report organic operating growth of at least 14% in fiscal 2021, adding that its share-buyback program has been recommenced. The world's largest liquor maker--which owns Johnnie Walker whisky and Tanqueray gin--said that its organic operating growth is also anticipated to be slightly ahead of net sales growth for the year ending June 30.
10:17 p.m. May 11, 2021
Coca-Cola HBC sales fall, but meet market viewsCoca-Cola HBC AG on Wednesday reported that its revenue fell 4.0% in the first quarter, but it met market expectations. The FTSE 100 Coca-Cola bottler, which is 23% owned by Coca-Cola Co., generated net sales revenue of 1.35 billion euros ($1.64 billion) in the three months to March, down from EUR1.41 billion a year earlier.
10:16 p.m. May 11, 2021
Ahold Delhaize profit falls on virus costsKoninklijke Ahold Delhaize NV said Wednesday that sales rose in the first quarter but that the coronavirus pandemic continued to generate sustained costs which hurt profitability. The Dutch grocer made a first-quarter net profit of 550 million euros ($668.3 million) compared with a restated EUR645 million for the year-earlier period.
10:14 p.m. May 11, 2021
EDF backs guidance as sales riseElectricite de France SA said Wednesday that sales rose in the first quarter and confirmed its full-year guidance, but said talks between France and the European Union over the company's restructuring plan remain difficult.
9:53 p.m. May 11, 2021
Telefonica Deutschland net loss narrowsTelefonica Deutschland Holding AG said Wednesday that its net loss for the first quarter narrowed and the company confirmed its guidance for the year. The German telecommunications company reported a net loss of 40 million euros ($48.6 million) compared with a net loss of EUR44 million in the first quarter of 2020.
9:52 p.m. May 11, 2021
Bayer backs outlook as net profit risesBayer AG on Wednesday reported a rise in net profit despite slightly lower sales and backed its outlook for the year. The German pharmaceutical and chemical conglomerate posted net profit of 2.09 billion euros ($2.54 billion), up from EUR1.49 billion in the same quarter of 2020. Earnings before interest, taxes, depreciation and amortization before special items were EUR4.12 billion, slightly down from EUR4.39 billion the year prior.
9:42 p.m. May 11, 2021
Toyota Motor net profit more than doublesToyota Motor Corp. said Wednesday that its fourth-quarter net profit more than doubled from a year earlier, as it continues its strong recovery from the Covid-19 pandemic. The Japanese auto maker said net profit for the quarter ended March 31 rose to 777.1 billion yen ($7.15 billion) from Y327.3 billion a year earlier.
9:40 p.m. May 11, 2021
Merck KGaA earnings and sales riseMerck KGaA said Wednesday that earnings and revenue rose in the first quarter, driven by all its business division but especially life science. After-tax profit at the German pharmaceuticals-and-chemicals company came in at 748 million euros ($908.9 million) for the quarter, up from EUR458 million in the same quarter a year prior.
8:00 p.m. May 11, 2021
- By Elisabeth Buchwald
Used-car prices surpassed $25,000 for the first time. Here's how to still snag a good dealDon't sit on a used car deal, if you're lucky enough to find one since it will likely disappear, car experts told MarketWatch.
2:00 p.m. May 11, 2021
Tesla's China Numbers Might Be Worse Than First Blush
A Chinese auto industry association reported Tesla sales for April recently. But Wall Street and news outlets are having trouble interpreting the numbers, sending Tesla stock down.
1:53 p.m. May 11, 2021
EA Issued an Upbeat Forecast. The Stock is Rising.
Chief Operating Officer Blake Jorgensen said the videogame publisher expects net bookings growth in the teens.
1:22 p.m. May 11, 2021
- By Claudia Assis
Turbo Tax maker Intuit expects to set higher fiscal 2021 guidanceIntuit Inc. said late Tuesday it will likely surpass the high end of its fiscal 2021 full-year sales and GAAP and adjusted earnings guidance, set in February, but warned that its revenue and other metrics for its fiscal third quarter were lower than expected due to the tax-filing deadline extension to May 17. Intuit said it will update its fiscal 2021 guidance when it reports fiscal third-quarter earnings on May 25. For that quarter, the company said it expects to report sales between $4.165 billion to $4.170 billion, down from a prior guidance range of between $4.605 billion and $4.655 billion. It called for GAAP per-share earnings between $5.20 and $5.25, and adjusted EPS earnings between $6 to $6.05, down from a previous range of between $6.75 and $6.85.
1:09 p.m. May 11, 2021
QuantumScape Had a Wider Loss but Offered Investors Something Positive
The EV battery technology company QuantumScape doesn't have sales yet, but investors liked the technical update.
1:05 p.m. May 11, 2021
Coinbase Could Have a Facebook-Like Rebound, Bull Argues
BTIG analyst Mark Palmer says the stock’s recent weakness reflects the decision to seek a direct listing, rather than a traditional IPO.
1:03 p.m. May 11, 2021
- By Weston Blasi
EBay to allow NFT sales on its platformEBay will now permit NFT sales from approved sellers, with plans to expand the pool of sellers in the future.
1:02 p.m. May 11, 2021
- By Levi Sumagaysay
Grocery Outlet stock sinks after sales missGrocery Outlet Holding Corp. shares fell sharply in extended trading after the supermarket chain reported mixed first-quarter results Tuesday, with net income beating but revenue falling short of analyst expectations.
12:59 p.m. May 11, 2021
U.S. Stocks Close Down on Inflation Concerns
Technology shares declined in favor of more economically sensitive and cyclical sectors, but Tuesday's losses were indiscriminate.
12:33 p.m. May 11, 2021
- By William Watts
Dow ends more than 470 points lower, while Nasdaq nearly erases 2% fall as tech shares bounceTech-related shares bounce back from early losses as the Nasdaq erases an early fall to end with a small loss on Tuesday, while the broader market suffers a bigger drop.
12:08 p.m. May 11, 2021
Vizio's Q1 sales rise, but profit slipsVizio Holding Corp. reported stronger television shipments and growth in accounts for its TV operating system in its first quarterly report since its public listing in March. Vizio on Tuesday said net income slipped to $3.4 million for the January through March stretch from $9.3 million for the same period last year.
11:42 a.m. May 11, 2021
American casinos match best-ever quarter with $11.1 billion in revenueAmerica's commercial casinos matched their best quarter ever in the first three months of this year, as customers continued returning amid the COVID-19 pandemic and internet and sports betting money helped boost revenue numbers.
11:04 a.m. May 11, 2021
- By Tomi Kilgore
Tesla stock falls again after downbeat China sales dataShares of Tesla Inc. took another dive Tuesday, after the electric vehicle maker's April sales in China fell sharply from March, more so than its rivals amid negative public relations issues.
10:49 a.m. May 11, 2021
- By Ciara Linnane
Curaleaf's strong quarter sets it up for a better-than-expected year -- and that's without sales in New York and New JerseyCuraleaf Holdings Inc.'s stronger-than-expected first-quarter earnings have put the company on track to deliver above-consensus numbers for 2021 and beat its own guidance for full-year revenue of $1.2 billion to $1.3 billion, analysts said Tuesday.
10:48 a.m. May 11, 2021
- By Ciara Linnane
Global cases and deaths from COVID-19 are plateauing but India's crisis continues to deepenThe global tallies of cases and deaths from the coronavirus-borne illness COVID-19 have started to plateau, according to the World Health Organization, but they remain at "unacceptably" high levels in many countries, notably India, where the crisis continues to deepen.
10:35 a.m. May 11, 2021
- By Nicole Lyn Pesce
Here's where Jeff Bezos’s superyacht ranks among the world’s most expensive boatsThe superyacht business is booming, and Bezos's reported $500 million yacht that needs its own support yacht is almost modest compared with some luxury boats
10:30 a.m. May 11, 2021
- By Fang Block
Rare da Vinci Drawing ‘Head of Bear’ Poised to Set a RecordThe artwork will be offered for between £8 million and £12 million at Christie’s London in July
10:08 a.m. May 11, 2021
- By Jacob Passy
Take this quiz to guess the median price of a home in your city --- only one New York mayoral candidate could do itFormer Citigroup executive Ray McGuire guessed the median price of a home in Brooklyn was $80,000 to $90,000 in a New York Times interview. The correct answer? $900,000.
9:55 a.m. May 11, 2021
As U.S. Cannabis Sales Boom, Curaleaf Sees Its Growth Accelerating
Earnings may be at an inflection point for the world's biggest legal seller of cannabis. CEO Boris Jordan hopes for modest reforms of federal cannabis laws.