News

Corporate Earnings

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CVS Health Corp said on Tuesday it would return to selling individual health insurance plans that offer Affordable Care Act premium subsidies next year, saying the market had stabilized.

The move by CVS comes a week after President Joe Biden’s administration told the U.S. Supreme Court that the Affordable Care Act, or Obamacare healthcare law, should be upheld.


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BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China’s strong appetite for iron ore to support its infrastructure push kept prices elevated.

China’s reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to multi-year highs, while the COVID-19 vaccination push has brightened outlook for global trade this year.


Kimberly Redmond | Equities.com |

Bombardier Inc plans to cease production of its iconic Learjet aircraft later this year in an attempt to improve its bottom line.

On Thursday, the Montreal-based business jet manufacturer also said it will eliminate 1,600 jobs in Canada and the US as part of a strategy to generate $400 million in annual cost savings by 2023.

The downsizing announcement came as Bombardier reported a net loss of $337 million, $0.18 per share, for the final qua...


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L’Oréal, the world’s biggest cosmetics group, forecast a strong rebound in makeup sales when the COVID-19 pandemic gives way to a “roaring 20s” when people get dressed up and go out again to socialize.

Shares in L’Oréal, owner of brands such as Maybelline, Lancome and Garnier, rose on Friday after the group reported higher than expected fourth-quarter sales growth, broadly outperforming a cosmetics market hit hard by the pandemic.


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Walt Disney Co swung to a surprise quarterly profit on Thursday, as “The Mandalorian” and “Soul” lifted its fast-growing streaming business, outweighing pandemic worries about its hobbled theme park operations.

Investors overlooked a 53% decline in park revenue in the quarter and welcomed Disney+ streaming reaching 94.9 million subscribers. Shares rose 3.1% to $194 after they closed at an all-time high in regular trade.


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Uber Technologies Inc on Wednesday said revenue at its ride-hail and delivery businesses increased on a quarterly basis and said it was well on track to reach its goal of achieving an adjusted profit by year-end.

Shares fell 3% in after-hours trading after gaining around 6% during the day in reaction to smaller ride-hail rival Lyft Inc saying on Tuesday it might become profitable during the third quarter, three months ahead of a previous goal.


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General Motors Co on Wednesday said the global semiconductor chip shortage could shave up to $2 billion from 2021 profit, but the U.S. automaker’s highly profitable big pickups and SUVs won’t suffer any production cuts.

After reporting a fourth-quarter profit of $2.8 billion and a 2021 profit outlook some saw as conservative, GM shares were down 4.5% in early trading.

Chief Executive Mary Barra, in a media briefing, said GM “won’t lose any production” of its high-profit full-size pickup trucks and SUVs, although the supply of computer chips “is still a bit fluid.”


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Toyota Motor Corp said on Wednesday it has an up to four-month stockpile of chips and was not immediately expecting a global chip shortage to hit production, as it jacked up its full-year earnings forecast by a bigger-than-expected 54%.

Unlike other automakers, including Japanese peers Nissan Motor Co Ltd and Honda Motor Co Ltd, that have had to cut production because of semiconductor shortages, Toyota raised output for the fiscal year ending March.


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Cisco Systems Inc on Tuesday reported a decline in revenue for a fifth straight quarter, as enterprise clients spent less on its network infrastructure products for offices due to the rise of remote working.

The dour performance overshadowed a better-than-expected forecast for current-quarter revenue and sent the company’s shares 4% lower in extended trading. The stock had risen nearly 8% last week ahead of the results.


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Twitter Inc on Tuesday beat Wall Street targets for quarterly sales and profit and followed its social media peers to forecast a strong start to 2021 as ad spending rebounds from a rock bottom.

The solid beat, aided by ad product improvements, convinced investors to overlook a dull forecast for user growth, which Twitter expect to slow down to low double digits this year as a boost from the pandemic fizzles.

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