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Corporate Earnings

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Nestlé raised its guidance for 2020 organic sales growth to around 3% after beating third-quarter expectations on Wednesday with 4.9% growth driven by strong demand for pet food, coffee and health products.

Nestle shrugs off pandemic impact, raises guidance

The world’s biggest food group has weathered the COVID-19 pandemic better than some peers as its focus on high-growth categories helped offset a slump in food sales to ...


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U.S. auto dealer AutoNation Inc's quarterly profit nearly doubled on Wednesday as a stronger-than-expected recovery in demand and tight inventories helped drive more profit per vehicle just months after the pandemic slammed the economy.

Chief Executive Mike Jackson told Reuters he is optimistic looking ahead. Interest rates will be “very low for a long time,” he said.

Low rates help consumers afford more expens...


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Verizon Communications Inc beat estimates for third-quarter profit on Wednesday, helped by strong demand for its phone and internet services as offices and schools continued to operate virtually amid the COVID-19 pandemic.

The health crisis has brought global economies to a halt, but the telecom sector has been relatively less affected. With lockdowns easing, Verizon gradually reopened all of its company-operated retail stores in the quarter, implementing touch-less reta...


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Snap Inc, owner of the single-view messaging app Snapchat, on Tuesday beat Wall Street's third-quarter forecasts for user growth and revenue as more people signed up to chat with friends and family during the coronavirus pandemic.

Shares of Snap rose 18% to $33.85 in after-hours trading.

Daily active users (DAUs), a widely watched metric by investors and advertisers, rose 18% year-over-year to 249 million in the quarter e...


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Netflix Inc on Tuesday reported fewer paid subscribers than Wall Street expected in the third quarter as streaming competition increased and live sports returned to television.

The company said it added 2.2 million paid subscribers globally during the quarter that ended Sept. 30 compared with analysts' estimates of 3.4 million, according to IBES data from Refinitiv.

Looking ahead, Netflix forecast it would bring in 6 m...


AP News | Equities.com |

Stocks closed broadly higher Tuesday as Wall Street welcomed a batch of solid earnings reports from U.S. companies.

The S&P 500 gained 0.5%, recouping some of its loss from a day earlier. Technology, communication and financial stocks powered most of the gains, while household goods makers fell. Overseas markets closed mixed. Treasury yields held steady.

Traders bid up shares in several companies that reported quarterly results that were better than analysts expected, including Procter & Gamble, Regions Financial, Albertsons and Travelers. Others didn’t fare as well. Netflix shares fell in after-hours trading after the streaming service reported third-quarter earnings and a tally of new subscribers that fell short of analysts’ expectations.


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U.S. weapons maker Lockheed Martin reported a better-than-expected third-quarter profit, helped by higher sales in its aeronautics unit which makes the F-35 fighter jet, and raised its full-year earnings forecast.

The U.S. defense sector has fared better compared with other industries amid a slump in demand due to the coronavirus pandemic, as the government has continued to purchase weapons while also providing support to defense ...


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Procter & Gamble Co raised its annual sales and earnings forecasts on Tuesday, as households continued their coronavirus-driven cleaning sprees, pushing quarterly sales of the consumer goods giant's home care products as much as 30% higher.

P&G’s shares, already up 14% this year, rose another 2% in early deals after the company released numbers that also showed strong gains in sales across most of its divisions....


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International Business Machines Corp edged past Wall Street estimates for quarterly revenue on Monday, bolstered by higher demand for its cloud computing services from companies speeding up their digital shift due to the coronavirus pandemic.

The results come just weeks after Big Blue surprised investors with its announcement of splitting itself into two public companies, placing big bets on cloud computing to drive its future growth.

“We conti...


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Halliburton Co posted its fourth straight quarterly loss on Monday, as the world's second-largest oilfield services firm struggled with a plunge in demand and lower oil prices.

Halliburton, the largest hydraulic fracturing provider in the U.S., still beat analyst estimates, earning 11 cents a share after one-time items versus expectations of 8 cents per share. The Houston, Texas-based company has undertaken aggressive cost-cutting measures, including cutting thousands of jobs.