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[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

[ad_1] A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China. VCG | Getty Images Procter & Gamble on Tuesday reported mixed quarterly earnings and revenue for its fiscal second quarter of 2024. The company also narrowed its outlook for full-year adjusted earnings per share to a range of $6.37 to $6.43, although its forecast for unadjusted earnings fell due to its plans to write down Gillette and restructure certain markets. Shares of the company rose about 1% in premarket trading. Here's what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.84 adjusted vs. $1.70 expected Revenue: $21.44 billion vs. $21.48 billion expected P&G reported fiscal second-quarter net income attributable to the company of $3.47 billion, or $1.40 p

[ad_1] Limited Edition holiday breakfast cereal, Christmas Crunch in holiday shapes, Target store, Queens, New York. (Photo by: Lindsey Nicholson/UCG/Universal Images Group via Getty Images) Lindsey Nicholson | Getty Images Two big companies weighed in on persistent demand woes this week. General Mills , which reported earnings Wednesday morning, said tepid demand and pricing pressures are compounding problems for the Dunkaroos and Bisquick maker. That echoed what FedEx said in its report after the bell Tuesday. FedEx shares fell 12% on Wednesday, on pace for its worst day in 15 months, while General Mills' stock slipped more than 3%. And, just like FedEx, General Mills trimmed its full-year sales outlook. With two quarters remaining in the Cheerios producer's fiscal year, the company now sees revenue down 1% to flat, compared with previous guidance of a 3% to 4% increase. General Mills is also cutting the high end of its earnings guidance due to the lower demand foreca

[ad_1] Members of the Writers Guild of America and the Screen Actors Guild walk the picket line outside of Disney Studios in Burbank, California, on July 18, 2023.  Robyn Beck | AFP | Getty Images Disney posted mixed results for its fiscal third quarter despite ongoing streaming woes and massive restructuring costs resulting from pulling content from its platforms. Subscriber losses continued over the last three months, with the company reporting 146.1 million Disney+ subscribers during the most recent quarter, a 7.4% decline from the previous quarter and a larger loss than Wall Street expected. The majority of subscriber losses came from Disney+ Hotstar, where the company saw a 24% drop in users after it lost out on the rights to Indian Premier League cricket matches. Facing dwindling users and falling revenue in its media and entertainment distribution segment, Disney announced Wednesday it would raise the price on its ad-free streaming tier in October and that it would crack

[ad_1] GameStop on Tuesday posted a quarterly profit for the first time in two years, finishing out its fiscal year on a high note in the holiday quarter after grappling with sales declines, inventory woes and cash flow pressure. Shares of the company soared more than 45% during after-hours trading. For the quarter ended Jan. 28 , net sales dropped slightly to $2.23 billion from $2.25 billion in last year's fourth quarter. The video game retailer also posted a profit of $48.2 million, or 16 cents a share, compared to a loss of $147.5 million, or 49 cents, a year ago. GameStop did not provide financial guidance and has not done so since the early days of the pandemic. Its results can't be compared with Wall Street estimates because too few analysts cover the company. The retailer had been working to steer itself back to profitability, and got there in part by cutting costs. Selling, general and administrative expenses came in at $453.4 million for the quarter, or 20.4% o

[ad_1] Kevin Mazur | Getty Images Entertainment | Getty Images Warner Bros. Discovery reported second-quarter results Thursday that fell below Wall Street expectations across the board and revealed subscriber totals that were down from the previous quarter. Global direct-to-consumer streaming subscribers at the end of the period were 95.8 million, below the 96.7 million subscribers analysts were expecting according to StreetAccount, and a decrease of nearly 2 million from the end of the first quarter. related investing news The company launched its combined Max streaming service during the second quarter, merging HBO content with unscripted hits from the Discovery networks into one platform. Customers dropping their Discovery+ subscriptions for Max were likely to blame for the decline in subscribers. Data provider Antenna estimated that Discovery+ cancellations were up about 68% compared with June 2022 due to the switchover to Max. Still, the company said it had repaid $1.6 bil

[ad_1] Pedestrians walk past Yum! Brands Inc. Pizza Hut and KFC restaurants in Shanghai, China. Qilai Shen | Bloomberg | Getty Images China is leaving behind pandemic lockdowns, and U.S. companies like Procter & Gamble , Starbucks and MGM Resorts International say the country's recovery is boosting their overall sales as consumers in their home markets watch their wallets. With its large population and swelling middle class, China is a desirable market for many multinational companies that have seen their U.S. businesses mature. But its zero- Covid policy, which imposed harsh restrictions to stop the spread of the virus, hurt the country's economy — and revenue for the many U.S. companies that sell their goods or services there. After rolling back the policy in December, China's economy grew 4.5% in the first quarter. U.S. companies are reporting that demand in China is returning, boosting their sales at a time when many U.S. consumers are pulling back their spe

[ad_1] A range of retailers are again blaming shrink as one of the reasons they saw another quarter of lackluster profits. But some of those companies have started to offer more detail than ever on how much shrink, or items lost to factors like external or employee theft , damage or vendor fraud, is cutting into their bottom lines. At the same time, certain retailers pulled back on their contention that organized theft is a primary cause of losses, as scrutiny grows over claims about how much crime contributes to their struggles. During second-quarter earnings reports in August and September, nearly two dozen retailers said shrink has continued to weigh on profits. But the details each company provided, and the explanations they gave for losses, varied widely. Many of them said that shrink is at an all-time high and said the industry is struggling to control it. Still, it's difficult to compare the losses to past years because most of the companies have never previously disclo