Pfizer Inc. shares fell Tuesday, after the drugmaker posted fourth quarter earnings that surpassed analysts’ expectations while issuing a softer 2023 growth guidance amidst cooling off of its Covid treatments’ sales. Pfizer’s adjusted earnings for the three months ending in December came in at $1.14 per share, beating the Street consensus forecast of $1.05 per share. Revenues climbed +2%...
Ford Motor Co. announced that it would lower prices of its flagship electric vehicle, the Mustang Mach-E, amid a "significant" increase in production. The carmaker would slash the price of Mustang Mach-E by an average of $4,500. The move comes after Tesla’s decision to cut prices by as much as 20%. The automaker was the No. 2 seller of EVs in the US last year, much behind Tesla, which...
Signals from Pattern Search Engine Tickeron is bringing high-powered Artificial Intelligence (A.I.) technology to the retail investment community that, in our opinion, rivals the technology and approach used at major Wall Street firms. The Ph. D founders of Tickeron have spent several years researching and building an Artificial Intelligence-based search engine that allows active investors to...
Automatic Data Processing, Inc. posted second-quarter fiscal 2023 earnings that exceeded analysts’ expectations. The human resources management company’s adjusted earnings per share for the quarter grew +19% from the year-ago quarter to $1.96, surpassing the Zacks Consensus Estimate by 0.5% (according to Zacks Equity Research). Total revenues were up +9.1% year-over-year to $4.4 billion,...
Hasbro shares plunged on Friday, after the toy maker said it would layoff around 15% of its global workforce. The company also cautioned that a disappointing holiday season would lead to lower-than-expected fourth quarter earnings. Hasbro will slash around 1,000 jobs, with announcements coming over the next few weeks. The Monopoly maker mentioned that fourth quarter sales would likely...
Comcast Corp. reported fourth quarter earnings that surpassed analysts’ expectations. The telecom company also hiked its dividend for a fifteenth consecutive year. Comcast’s adjusted profits for the three months ending in December came in at 82 cents per share, beating the Street consensus forecast by 5 cents. Revenues rose +0.6% year-over-year to $30.522 billion, also topping analysts'...
Cathie Wood, chief executive of Ark Investment Management, unloaded 175,491 shares of Exact Sciences on Jan. 23, possibly to take advantage of the stock’s recent gains. Exact Sciences is the largest holding in Wood’s flagship Ark Innovation ETF. Exact Sciences, a medical diagnostics company, has lost 11% in its stock price over the past year, but has climbed +119% since Oct. 14 on the back of...
Boeing posted a surprise fourth quarter loss. Nevertheless, the aircraft manufacturer announced its first positive free-cash flow in more than four years. Boeing incurred an adjusted core loss of - $1.75 per share in the quarter, vs. the huge - $7.69 per share loss it reported a year ago, amidst a $3.5 billion charge linked to delays in production and delivery of its 787 widebody. However, it...
AT&T Inc. reported fourth quarter earnings that exceeded analysts’ expectations. Adjusted earnings for the three months ending in December rose +9% from the year-ago quarter to 61 cents per share, beating the Street consensus forecast of 57 cents per share. Revenues climbed +0.65% from last year to $31.3 billion, in line with the Street forecasts. The company’s standalone mobility revenues...
Microsoft posted its fiscal second quarter earnings late Tuesday, beating analysts’ expectations. However, it forecast current quarter revenues for its intelligent cloud division which missed analysts’ expectations (according to Refinitiv survey). The tech behemoth’s adjusted earnings slipped -6.5% from the year-ago quarter to $2.32 per share, topping the Street consensus forecast of $2.30...
Verizon Communications reported fourth quarter revenues that surpassed analysts’ expectations, while also posting better-than-expected new wireless subscribers. Verizon’s adjusted non-GAAP earnings for the three months ending in December came in at $1.19 per share, slipping -9.2% from the same period last year but in line with Street consensus forecast. Revenues climbed +3.5% year-over-year...
U.S. existing home sales (i.e. sales when a contract is closed) fell -1.5% from November and -34% year-over-year to a seasonally adjusted annual rate of 4.02 million in December, the lowest level since November 2010. Home resales, which account for a significant share of U.S. housing sales, were down -34.0% on a year-on-year in December. December marked the 11th consecutive month of home...
Amazon.com Inc's cloud services segment Amazon Web Services (AWS) announced its plans to invest an additional $35 billion by 2040 towards expanding data centers in Virginia. According to AWS, the new investment will create 1,000 jobs. Subject to approval by state lawmakers, Virginia is developing a new "Mega Data Center Incentive Program," which would allow the company to get up to a 15-year...
Flora Growth Corp. is beginning 2023 with a major acquisition. As 2022 ended, Flora completed the acquisition of Franchise Global Health. Franchise Global Health is a Canadian cannabis company with primary operations in Germany, and is the owner of the first German medical cannabis import and distribution license. This acquisition potentially boosts Flora’s access to Germany’s cannabis market...
Cosmos Health Inc. announced that it has revised a non-binding letter of intent to buy telemedicine business ZipDoctor Inc. The healthcare company said it renegotiated the price "to achieve much improved payment terms." The updated letter will remain effective until February 15, 2023. ZipDoctor is a wholly owned subsidiary of American International Holdings Corp., and is a direct-to-consumer...
Several analysts’ comments in recent days seem to indicate that Tesla is likely to emerge victorious after riding out the near-term challenges. Wedbush proprietary survey revealed that 76% of the China buyers want to purchase a Tesla vehicle following the price cuts implemented on January 6th. This indicates they might prefer the brand over domestic peers such as BYD Manufacturing Company...
Procter & Gamble Co. posted lower quarterly profit, amidst higher prices dampening sales volumes. It is among the first consumer product behemoths to report December quarter results. For the three months ended Dec. 31, the company reported net income of $3.9 billion, or $1.59 per share, excluding items, lower than $4.22 billion, or $1.66 per share, a year earlier. The EPS were in line with...
Netflix posted fourth-quarter 2022 earnings of 12 cents per share, falling short of the Zacks Consensus Estimate by 74.47% (as reported by Zacks Equity Research). The figure is -91% lower from the year-ago quarter. The streaming giant’s revenues were up +1.9% from the year-ago quarter to $7.85 billion, missing the consensus expectations by -0.18% (according to Zacks Equity Research). The...
Nordstrom shares fell on Friday, after the retail company lowered its full-year profit outlook. Nordstrom is now expecting its earnings for its fiscal 2022 year (ending February) to come in the range of $1.50 to $1.70 per share, well below its prior forecast of $2.13 to $2.43 per share. Holiday sales fell to below prepandemic levels. Sales for the nine weeks ending on December 31 slipped...
Google parent Alphabet revealed plans to layoff around 12,000 workers globally, echoing tech peers' job cuts amid economic uncertainty. Alphabet's retrenchments are expected in engineering and product teams as well as upper-level management. A Reuters report mentioned that Google CEO Sundar Pichai has informed employees of the job cuts through a memo. Earlier this week, Microsoft announced...