Market News
Merck beats on revenue boosted by Keytruda sales, but posts quarterly loss due to Prometheus deal
CNBC - 1 Aug 2023 12:32
Shares of Merck are down roughly 4% this year, with a market value of roughly $270 billion, making it the third largest pharmaceutical company based in the U.S.
The Fading 'War Windfall': BP Sees 70% Drop In Profits But Hikes Dividend
Forbes - 1 Aug 2023 15:06
Supermajor joins its energy peers in posting markedly lower quarterly profits but hikes its dividend pay out by over 10%.
Update: GLDD, August 1
Forbes - 1 Aug 2023 23:34
Shares of Great Lakes Dredge & Dock (GLDD) popped more than 12% today after the company reported very favorable Q2 results this morning. Specifically, while
S&P 500 Slips Lower After a Strong July
Wall Street Journal - 1 Aug 2023 22:30
Shares of Caterpillar and Arista Networks advanced after their earnings reports.
China's Covid Catastrophe: (5) The Unvaxxed Elderly Are A Deadly 'Accelerant'
Forbes - 1 Aug 2023 20:46
The huge number of unvaccinated elderly Chinese will drive death tolls much higher - along with the strange halt in vaccination efforts before the end of zero-Covid.
Recession Likelihood Has Plummeted; Even Higher Interest Rates Coming
Forbes - 1 Aug 2023 19:15
The likelihood of a recession has plummeted from 73% to just 15%, and the FOMC will likely continue raising interest rates--likely pushing mortgage rates up even more.
Joe Biden's Split Personality On Energy Project Permitting
Forbes - 1 Aug 2023 19:06
The Biden Administration has proposed a new rule to amend the National Environmental Policy Act (NEPA) regulations.
Judge This Fund By Its Holdings, Not Its Methodology
Forbes - 1 Aug 2023 18:47
Despite a seemingly sound investment methodology, analyzing the fund's holdings reveals a portfolio that is inferior to its benchmark.
It Might Not Be Quitting Time Yet for the Fed's Rate Hawks
Wall Street Journal - 1 Aug 2023 18:29
Workers in some sectors are still leaving jobs at a higher rate than before the pandemic in a sign that the job-market realignment continues.
Portability of brokers: Succour for investors?
livemint.com - 1 Aug 2023 18:23
Broker default episodes, when there is no broker portability, is marked by forced liquidations that creates risk exposures and eliminates potential risk-taking market participants who are capable of tolerating market ris...
Uber Got a Bit Too Revved Up
Wall Street Journal - 1 Aug 2023 18:23
The ride-hailing company's road to actual profits has been a long one, but investors still got there early.
Funding winter, illiquid startups and Sebi rules hamper AIF exits
livemint.com - 1 Aug 2023 18:15
High net worth investors at risk as AIFs face redemption pressure but Sebi rules do not permit easy liquidation.
Margin Expansion To Drive Johnson Controls' Q3?
Forbes - 1 Aug 2023 17:00
We expect the company's revenues to come in at $7.2 billion, aligning with the consensus estimate.
Carvana Stock Up 892%, Redditors Cheer As Shorts Get Squeezed
Forbes - 1 Aug 2023 16:32
Carvana stock has had a nice run so far in 2023 -- soaring 892%.
A Strong Vegas Business And Recovery In Macau Will Drive MGM's Q2 Results
Forbes - 1 Aug 2023 15:00
MGM Resorts is expected to publish its Q2 2023 results on August 2, reporting on a quarter that is likely to see stronger business at the company's Las Vegas propertie...
Is a Stronger Yen Lurking Around the Corner?
Wall Street Journal - 1 Aug 2023 15:00
The Bank of Japan's surprising tweak to its monetary policy injects more uncertainty into the yen's trajectory.
The Anomaly of High US Profit Margins and a Tight Labor Market
Forbes - 1 Aug 2023 14:05
One issue that has received little attention is why U.S. corporate profit margins have stayed high even as interest rates and wage increases accelerated in 2022.
Pfizer beats on earnings, but revenue misses as Covid product sales plummet
CNBC - 1 Aug 2023 14:04
Pfizer is in a transition period as it pivots away from its blockbuster Covid vaccine and drug Paxlovid while the world emerges from the pandemic.
Higher Costs To Weigh On CVS Health's Q2?
Forbes - 1 Aug 2023 14:00
Earnings will likely come in at about $2.10 on a per-share and adjusted basis, nearly matching the $2.11 consensus estimate.
JetBlue cuts forecast on shift to international travel, end of American Airlines partnership
CNBC - 1 Aug 2023 13:41
JetBlue Airways slashed its 2023 outlook and warned of a potential loss in the current quarter.
Uber shares rise on rosy guidance and operating profit, despite revenue miss
CNBC - 1 Aug 2023 13:37
Shares of Uber rose 4% in premarket trading Tuesday after the company reported second-quarter results that missed analysts' expectations for revenue but offered rosy guidance.
What To Expect From AMD's Q2 Results?
Forbes - 1 Aug 2023 13:00
We project that earnings will come in at about $0.53 per share, slightly ahead of the consensus estimate and down by about 50% versus last year.