Corporate Earnings

Reuters | |

Slack Technologies Inc posted slowing quarterly billings growth and added fewer paid customer to its workplace messaging platform, hurt by strong competition in the work-from-home market, sending its shares down 15% in after-hours trading.

As the market for remote work expands, many players like Zoom, Google and Microsoft Teams are looking to capture a larger share of the market.

This has further pressured Slack that has flagged slowing demand from worst-af...

Reuters | |

Tesla Inc tumbled 15% early on Tuesday after its surprise exclusion from the S&P 500 index added to the broader sell-off in technology stocks which have dominated Wall Street’s recovery from the coronavirus-driven crash earlier this year.

Wall Street analysts and investors widely expected Tesla to join the S&P 500 after the company posted its fourth consecutive profitable quarter in July, clearing a major hurdle for its potential inclusion in the benchma...

Reuters | |

Broadcom Inc forecast current-quarter revenue above Wall Street estimates on Thursday, encouraged by the upcoming 5G phone launches and strong demand for its data-center chips from the growing remote work market.

The company forecast fourth-quarter revenue to be $6.4 billion, plus or minus $150 million. Analysts on average were expecting revenue of $6.18 billion, according to IBES data from Refinitiv.

The pandemic-led shift to work-from-home has fired up demand for inf...

Reuters | |

Campbell Soup Co on Thursday forecast first-quarter revenue largely above market estimates due to pandemic-buying, but said it expects sales to drop off in the second-half of its fiscal year as people start dining out again, sending shares down 2% in early morning trading.

The packaged food industry has seen an unprecedented wave of demand since the start of the Covid-19 pandemic, with people on lockdown stocking their pantries and ea...

Reuters | |

PVH Corp reported a surprise quarterly profit on Wednesday, as the apparel retailer benefited from strong demand for comfortable and casual clothing during the coronavirus-led shift to work from home, sending its shares up over 4%.

The Calvin Klein and Tommy Hilfiger owner also projected encouraging sales trends in China and Europe for the coming months and forecast revenue in the second half of its fiscal year to decline 25%, smaller than the 33% drop it posted in the second quarter.

Reuters | |

Sales of Lego jumped 14% in the first six months of the year as families under coronavirus lockdowns spent more time playing together at home, the Danish toy maker said on Wednesday.

Family-owned Lego has returned to growth since 2017, when a decade of double-digit sales increases came to an abrupt halt.

Since then, the company has managed to outpace growth in the overall toy market, a trend that continued between January and...

Reuters | |

Macy’s Inc reported a smaller-than-expected quarterly loss and beat sales estimates on Wednesday, as shoppers stuck indoors due to the COVID-19 pandemic bought more apparel using the department store chain’s app and website.

Shares of the company, which have lost nearly 60% of their value so far this year, were up about 6% before the bell.

To cope with the closure of malls and stores due to coronavirus-related lockdowns, Macy’s has been focusing on its on...

AP News | |

Zoom’s videoconferencing service is deepening its integral role in life during the pandemic as tens of thousands more businesses and other users pay for subscriptions to get more control over their virtual meetings.

The surge in paying customers enabled Zoom to hail another quarter of explosive growth. The company on Monday reported that its revenue for the May-July period more than quadrupled from the same time last year to $663.5 million, boosted by a steadily rising number of users converting from the free to paid version of Zoom’s service.