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[ad_1] General view of the UBS building in Manhattan on June 5, 2023 in New York City. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland's largest bank completed its takeover of stricken rival Credit Suisse . Analysts had projected a net profit of $12.8 billion for the three months to the end of June, according to a Reuters poll. UBS said the result primarily reflected $28.93 billion in negative goodwill on the Credit Suisse acquisition. Underlying profit before tax, which excludes negative goodwill, integration-related expenses and acquisition costs, came in at $1.1 billion. Negative goodwill represents the fair value of assets acquired in a merger over and above the purchase price. UBS paid a discounted 3 billion Swiss francs ($3.4 billion) to acquire Credit Suisse in March. "Two and a half months since closing the Credit Suisse acquisition,

[ad_1] Nicolas Jammet, chief concept officer and co-founder of Sweetgreen Inc., right, eats a salad during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Last quarter, it announced it would take a more conservative approach to entering new markets. It's also cutting support-center costs and simplifying its management structure. Sweetgreen shares rose 7% in extended trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Loss per share: 30 cents vs. 35 cents expected Revenue: $125.1 million vs. $126 million expected

[ad_1] A UnitedHealth Group health insurance card is seen in a wallet, Oct.14, 2019. Lucy Nicholson | Reuters Good afternoon! Health insurers are feeling the squeeze as older patients head to the doctor more than expected. CVS , which owns health insurer Aetna, on Wednesday  slashed its full-year profit outlook , citing the potential for higher medical costs to bite into its profits. That warning came two weeks after insurance giant  Humana  cited the same factor as it issued a  dismal 2024 earnings guidance . Medical costs from Medicare Advantage patients have  spiked over the last year  as more older adults return to hospitals to undergo procedures they had delayed during the Covid pandemic, such as joint and hip replacements.  Medicare Advantage , a type of privately run health insurance plan contracted by Medicare, has long been a key source of growth and profits for the insurance industry.  More than half  of Medicare beneficiaries are enrolled in such plans, enticed by lower

[ad_1] The Paramount logo is displayed at Columbia Square along Sunset Blvd in Hollywood, California, on March 9, 2023. Patrick T. Fallon | AFP | Getty Images Paramount Global's stock moved higher in extended trading Thursday after it reported strong revenue and subscription trends in its third-quarter earnings report. The after-hours move came on top of an already-strong day for the media giant. The stock closed more than 10% higher during the regular trading session Thursday. Paramount — home to brands such as CBS, Showtime, BET, Nickelodeon and its namesake movie studio — reported a 38% increase in revenue year over year. In the third quarter, streaming service Paramount+ saw 2.7 million net additions to its 63 million total subscriber count. The company also narrowed losses in its streaming segment to $238 million from $343 million a year ago. Here's how Paramount performed in the third quarter compared to Wall Street estimates: Earnings per share: 30 cents vs. 10 cen

[ad_1] An American Airlines 777 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC Airlines' cargo revenue is slumping. That's a sign of good news for travel recovery. Delta , United and American this month each reported year-over-year declines of about 40% in their second-quarter cargo revenue. For the first half of 2023, Delta's cargo business generated $381 million, down from $561 million in the first half of 2022, while American's cargo unit brought in $420 million compared with $692 million in the first six months of last year. United brought in $760 million from cargo so far this year, down from $1.2 billion a year earlier. Zoom In Icon Arrows pointing outwards Meanwhile, airlines are reporting record revenue , if not earnings , thanks to the rebound in travel demand. That means the business impact of cargo, which once helped prop up airlines' revenue during the Covid pandemic travel plunge, has faded. Cargo revenue at Unite

[ad_1] As Wall Street on Tuesday attempted to hold onto recent gains, we received positive updates on two Club holdings that are seeing outsized moves to the upside: Danaher (DHR) and Constellation Brands (STZ). DHR 1Y mountain Danaher's 1 year stock performance Danaher is set to present at the JPMorgan Healthcare Conference on Tuesday afternoon. However, ahead of the event, on Monday evening, the life sciences and medical diagnostics company released its slide deck. In addition to providing a high-level look at what the company will look like after the separation of its Environmental & Applied Solutions business, it included an upward revision to fourth-quarter guidance. Shares jumped 4% on the positive revision. Some investors were concerned that management would preannounce weak earnings. Now, management sees core sales growth up in the high single-digit range. The increase can be largely attributed to better-than-expected performance in Cepheid's molecular diagnost

[ad_1] Business at GE Healthcare Technologies capped off 2023 on a strong note despite ongoing concerns about China. That coupled with management's upbeat view of this year propelled shares up more than 13% to over $83 each at session highs. That was their highest level since July 2023. The Club stock closed just under $82. Total revenue increased more than 5% year over year to $5.21 billion, beating analysts' expectations of $5.1 billion, according to LSEG. Adjusted earnings-per-share (EPS) of $1.18 exceeded the LSEG estimate of $1.07. Bottom line We always say expectations matter when it comes to earnings season. Sometimes a company can do everything right and deliver a strong quarter but see its stock fall because expectations had gotten a little ahead of themselves. That was Eli Lilly , which also reported earnings Tuesday. In other examples, the stock is down so much that it already anticipates a miss. When the company does miss but the results aren't as bad as fe

[ad_1] In a jam-packed week of earnings, the Club executed multiple trades and elevated price targets for some of our biggest stocks. Many of these moves stemmed from what we saw in quarterly numbers and heard on conference calls. Here's a day-by-day look at the portfolio action. Monday The week began with our decision to exit our Johnson & Johnson (JNJ) position, as the legal road ahead for the pharmaceutical and medical device maker became too treacherous to navigate. After trying to resolve its talc liabilities through bankruptcy failed for a second time, we concluded that upside in the stock would be limited for the foreseeable future, and our money could be put to better use elsewhere. We realized a small profit on Monday's sale of what had been our remaining 500 shares. Microsoft (MSFT) and GE Healthcare (GEHC) fit the bill as better places to put money to work, so Monday afternoon we bought 45 more shares of MSFT and 225 more shares of GEHC. Along with our Micro

[ad_1] A Jet Blue aircraft takes off from Long Beach Airport in Long Beach, CA. Tim Rue | Bloomberg | Getty Images JetBlue Airways slashed its 2023 outlook and warned of a potential loss in the current quarter as travelers opt for destinations abroad and the carrier grapples with the end of its partnership with American Airlines in the Northeast. JetBlue forecast adjusted earnings per share for the full year ranging from 5 cents to 40 cents, down from an earlier estimate for per-share earnings of as much as $1. related investing news The New York-based carrier said it could post an adjusted loss of as much as 20 cents for the third quarter with revenue down 4% to 8% from the same period last year. The airline's shares tumbled more than 8% on Tuesday after reporting second-quarter results . Here's how the company performed in the period, compared with Wall Street expectations, according to Refinitiv consensus estimates: Adjusted earnings per share: 45 cents vs. 44 cents

[ad_1] Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020.  Mike Blake | Reuters Eli Lilly on Tuesday reported first-quarter adjusted profit that topped Wall Street's expectations and hiked its full-year guidance on strong sales of its blockbuster diabetes drug Mounjaro and newly launched weight loss treatment Zepbound. The drugmaker now expects full-year adjusted earnings of $13.50 to $14.00 per share, up from previous guidance of $12.20 to $12.70 per share. Eli Lilly also expects revenue for the year to come in between $42.4 billion and $43.6 billion, an increase of $2 billion at either end of the range. Analysts surveyed by LSEG expected full-year adjusted earnings of $12.50 per share and sales of $41.44 billion.  The company said the boosted guidance is in part due to optimism around increased production of Zepbound, Mounjaro and similar drugs for the rest of the year. "Now that we're four months into th

[ad_1] A customer pushes a shopping cart full of groceries outside a Wal-Mart in Rogers, Arkansas, left, and a pedestrian passes a Target store in the Tenleytown neighborhood of Washington, D.C. Getty Images Target and Walmart are both catering to thriftier shoppers, but the two big-box retailers have seen very different outcomes when it comes to winning their dollars. Target missed Wall Street's sales expectations for the fiscal second-quarter. Walmart beat Wall Street's revenue estimates for the three-month period. Target slashed its forecast for the year, while Walmart raised its outlook. The companies' diverging performances illustrate some of the retailers' fundamental differences. Walmart, the nation's largest grocer, makes more than half of its annual revenue from selling groceries — a category that shoppers buy even when times are tight. Target draws only about 20% of its yearly revenue from grocery, making it rely more on sales of items such as cl

[ad_1] The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. These big-name investors also made moves in nine other Club stocks during a strong three-month stretch that ended the best first half for the market in years. Starting with Salesforce, Dan Loeb's Third Point shed its stake in the second quarter. Jeff Smith's Starboard Value — the first known activist to target the enterprise software giant — cut its stake by 21% in the three months ended June 30. Those sales are among the Club-related trades revealed this week by the latest batch of securities filings known as 13Fs. Submitted to U.S. regulators on a quarterly basis, these disclosures offer a look — albeit with some limitations — into the investment decisions that closely followed Wall Street pros have made. CRM .SPX YTD mountain Salesforce's year-to-date stock performance, in compariso