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[ad_1] Shares of Dollar Tree plunged more than 16% in intraday trading Thursday after the company fell short of Wall Street's earnings expectations for the most recent quarter and slashed its profit outlook for the full year. The stock closed about 12% lower at $136.66 a share. Here's how the discounter did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv: Earnings per share: $1.47, adjusted, vs. $1.52 expected  Revenue: $7.32 billion vs. $7.28 billion expected  The company's reported net income for the three-month period that ended April 29 was $299 million, or $1.35 a share, compared with $536.4 million, or $2.37 a share, a year earlier. On an adjusted basis, the company reported earnings of $1.47 per share, falling below Wall Street projections. Sales rose to $7.32 billion, up from $6.9 billion a year earlier.  Same store sales were up 4.8% compared to an expected uptick of 3.6%, according to

[ad_1] A rendering of Telesat's low earth orbit broadband constellation Telesat Shares of Canadian telecommunications satellite operator Telesat surged on Friday after the company announced it would swap suppliers for its planned Lightspeed global internet network. Canadian space company MDA will now build the Lightspeed satellites, taking the place of French-Italian manufacturer Thales Alenia Space and resulting in "total capital cost savings" of about $2 billion, Telesat announced. The company expects to begin launching the first Lightspeed satellites in mid-2026, with global service beginning once the first 156 satellites are in orbit. The full network is planned to consist of 198 satellites. Telesat stock surged as much as much as 64% with heavy volume in early trading from its previous close at $8.45 a share, before slipping slightly to closer to 50%. "I'm incredibly proud of the Telesat team for their innovative work to further optimize ... resulting

[ad_1] A fashion week guest seen wearing red Adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London. Jeremy Moeller / Contributor / Getty Images German sportswear giant Adidas on Monday said it expects a significantly smaller operating loss for the year after recording better-than-expected early sales of its Yeezy stock, which it is offloading after cutting ties with collection creator Ye. Shares of Adidas were 6.3% higher at 10:22 a.m. BST Tuesday after the company said its potential write-off from remaining inventory was now €400 million ($442.5 million), down from €500 million, as it trimmed its operating loss forecast for 2023 to €450 million from €700 million. The company also reported a slight outperformance in the underlying Adidas business and said it still expects underlying operating profit, excluding one-offs related to Yeezy and a wider ongoing strategic review, to roughly break even for the year. Adidas ende

[ad_1] Thibaut Mongon, CEO of Kenvue Inc. a Johnson & Johnson's consumer-health business, speaks during an interview to celebrate its IPO at the New York Stock Exchange (NYSE), May 4, 2023. Brendan Mcdermid | Reuters Most consumers have pulled back on spending as inflation squeezes their wallets, but they have not stopped paying up for brand-name health and personal care products, Kenvue CEO Thibaut Mongon said. Mongon told CNBC on Thursday that consumers are still willing to spend on the company's branded products – even as they reduce discretionary spending at retail stores and trade down on some essential items by changing their usual purchase size or switching brands for lower prices.  The Johnson & Johnson consumer spinoff Kenvue beat second-quarter revenue and adjusted earnings estimates on Thursday, fueled by resilient demand for the company's wealth of widely known brands such as Band-Aid, Tylenol, Listerine, Neutrogena and Aveeno. Still, the co

[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] Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023.  JanValls | Nurphoto | Getty Images American Airlines on Thursday raised its earnings outlook for 2023 after a strong start to the peak travel season, the latest airline to reap the rewards from the continued boom in demand. The Fort Worth, Texas-based carrier expects to earn between $3 and $3.75 a share for the full year, adjusting for one-time items, up from a forecast in May to earn about $2.50 to $3.50. That updated 2023 profit guidance falls in line with Wall Street expectations of $3.10, according to Refinitiv consensus estimates. American shares were down more than 6% in late-afternoon trading. Airline executives have been upbeat about travel demand, particularly for international trips. Some airfares have declined compared with last year, when airlines struggled to rebuild their schedules after the worst of the Covid pandemic , leaving tr

[ad_1] Johnson & Johnson on Thursday reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations, and lifted its full-year guidance as sales from the company's medtech business jumped. The medtech division provides devices for surgeries, orthopedics and vision. The company is benefitting from a rebound in demand for non-urgent surgeries among older adults, who deferred those procedures during the pandemic. That increased demand has been observed by health insurers like UnitedHealth Group and Elevance Health . Here's how J&J results compared with Wall Street expectations, based on a survey of analysts by Refinitiv: Earnings per share: $2.80 adjusted, vs. $2.62 expected Revenue: $25.53 billion, vs. $24.63 billion expected Shares of J&J rose more than 5% in morning trading Thursday. The stock has dropped more than 5% for the year, putting the company's market value at roughly $436 billion.  J&J, whose financial

[ad_1] SpaceX, Twitter and electric car maker Tesla CEO Elon Musk looks on as he speaks during his visit at the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023.  Alain Jocard | Afp | Getty Images Tesla reported earnings after the bell, showing a record for quarterly revenue but lower margins thanks to price cuts and incentives. The stock price remained flat after the initial report, but began dropping during the earnings call as CEO Elon Musk and other executives failed to deliver precise specs and start of delivery dates for the Cybertruck, and for a robotaxi-ready vehicle. Musk and other execs also said during the call that vehicle production would slow down during Q3 due to shutdowns for factory improvements. It's now down about 4% after hours. Here's how the company did versus expectations: Revenue: $24.93 billion, versus $24.47 billion expected according to Refinitiv. Earnings: 91 cents per s

[ad_1] Novartis said in August that it plans to spin off its generics unit Sandoz to sharpen its focus on its patented prescription medicines. Bloomberg | Bloomberg | Getty Images Novartis shares jumped on Tuesday after the Swiss drugmaker raised its full-year guidance on strong drug sales and announced a $15 billion share buyback.  The company made both announcements as it reported second-quarter earnings , which topped Wall Street's expectations.  related investing news The share buybacks will go to the end of 2025, Novartis said. The company, which is sitting on a large cash pile after selling its stake in Swiss rival Roche in 2021, completed an earlier buyback program of roughly the same size last month. Novartis expects sales to rise by a high-single-digit percentage in 2023, an increase from a previous expectation of mid-single-digit growth. The company also anticipates group core operating income will grow by a low double-digit percentage, up from a previous expec

[ad_1] Representatives speak with customers at a UnitedHealthcare store in Queens, New York. Michael Nagle | Bloomberg | Getty Images UnitedHealth Group' s stock price jumped Friday after the health-care conglomerate reported second-quarter revenue and adjusted earnings that topped Wall Street's expectations despite rising medical costs . The results eased investor concerns after the Minnesota-based company flagged a surge in demand for non-urgent surgeries and outpatient services last month and spooked the market. related investing news UnitedHealth Group is the biggest health-care company in the U.S. by market cap and revenue, and is even bigger than the nation's largest banks. Given its size, UnitedHealth Group is considered a bellwether for the broader health insurance sector. Its market value was around $447 billion as of Friday afternoon. Here's what UnitedHealth Group reported compared with Wall Street's expectations, based on a survey of analysts by

[ad_1] Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Stocks rose Friday as strong earnings results from some of the biggest banks and companies kicked off earnings season. The Dow Jones Industrial Average rose 121 points, or 0.3%. The S&P 500 ticked up about 0.1%, and the Nasdaq Composite advanced 0.2%. Wall Street is coming off its fourth consecutive day of gains, with the Nasdaq and S&P 500 reaching their highest levels since April 2022. JPMorgan Chase rose 0.3% after its second-quarter earnings topped expectations. The bank was boosted by higher interest rates and rising interest income. Wells Fargo also gained 0.5% on the back of better-than-expected results. UnitedHealth shares jumped 8% after the insurance giant reported better-than-expected earnings and revenue. The company also raised the lower end of its full-year earnings guidance. "What we've seen simple out of out of big bank earnings, especially JPMorgan, is pretty resilient,&qu

[ad_1] Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. Earnings and inflation Watch J & J Strong outlook for Meta 1. Earnings and inflation U.S. stocks edged higher Monday, with the Dow jumping over 150 points, rallying after a tough week for the major Wall Street gauges. We're looking ahead to second-quarter earnings Friday, kicking off with financials like Club holding Wells Fargo (WFC). Consumer price index (CPI) data will be released Wednesday, which will give the market a better read on the inflation situation. Overall, there's a lot of uncertainty for the U.S. economy as inflation stays high and the Federal Reserve mulls over further monetary tightening in order to cool a resilient labor market. 2. Watch J & J We're watching for closing arguments in a talc lawsuit against Johnson & Johnson (JNJ) brought by a 24-year-old in California

[ad_1] 2024 Chevrolet Silverado HD ZR2 GM DETROIT – General Motors' U.S. vehicle sales increased by 18.8% in the second quarter compared with subdued results a year ago when the automaker was battling supply chain issues. The Detroit automaker reported sales Wednesday of 691,978 new vehicles from April through June. That compared with 582,401 vehicles during the second quarter of 2022. It also is a sequential increase compared with GM's first-quarter sales of just over 600,000 new cars and trucks. GM's second-quarter sales, along with those of other automakers such as Honda Motor, Nissan Motor and Stellantis, indicate demand for new vehicles remains strong as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. Auto industry forecasters project U.S. new vehicle sales to have increased 16% to 18% during the second quarter compared with a year earlier. Cox Automotive recently increased its full

[ad_1] 2021 Dodge Durango SRT Hellcat Fiat Chrysler DETROIT – Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis' second-quarter U.S. new vehicle sales up 6.4% from a year earlier. The uptick is another sign of demand for new vehicles rebounding, as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. Stellantis' sales increase is expected to be among the lowest of the second quarter, according to auto industry forecasters who project industry sales to have increased 16% to 18% during that time compared with a year earlier. "We saw increased demand this quarter as market conditions continue to improve and our dealer network makes the necessary adjustments to drive sales growth across our brand portfolios," Stellantis' U.S. head of sales, Jeff Kommor, said in a release Monday. Shares of Stellantis gained about 1.5% after the news. Sa