The U.S. economy contracted in the first three months of 2025, fueling recession fears at the start of President Donald Trump’s second term in office as he wages a potentially costly trade war.Gross domestic product, a sum of all the goods and services produced from January through March, fell at a 0.3% annualized pace, according to a Commerce Department report Wednesday adjusted for seasonal factors and inflation. This was the first quarter of negative growth since Q1 of 2022.Economists surveyed by Dow Jones had been looking for a gain of 0.4% after GDP rose by 2.4% in the fourth quarter…
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A man has been charged with a terrorism offense in London after he attempted to enter the Israeli Embassy armed with a knife, the police said on Wednesday.The Metropolitan Police, which is responsible for law enforcement in London, said Abdullah Sabah Albadri, 33, was arrested after being seen “attempting to gain unauthorized access” to the grounds of the embassy shortly before 6 p.m. local time on Monday.“Officers prevented the man from entering and arrested him on suspicion of a public order offense, trespassing on a designated site and possession of an offensive weapon,” the police force said in a statement.“He…
Check out the companies making headlines before the bell. First Solar — The solar panel manufacturer tumbled 13% after First Solar posted first-quarter earnings of $1.95 per share, missing the $2.49 analysts polled by LSEG had penciled in. First Solar also guided for second-quarter and full year earnings that were below expectations. Snap — Shares tumbled 15% after the tech company declined to provide a forecast, citing macroeconomic uncertainties that could affect advertising demand. Nonetheless, Snap reported better-than-expected top-line results for the first quarter. The company posted revenue of $1.36 billion, slightly higher than the $1.35 billion expected by analysts…
Wells Fargo is moving to the sidelines when it comes to Nike . The bank downgraded shares of the athletic apparel manufacturer to equal weight from overweight. Analyst Ik Boruchow accompanied the move by reducing his price target to $55 from $75. Shares of Nike have tumbled 24% in 2025. Boruchow’s updated price target implies that the stock could shed 4% from its Tuesday closing price. Shares were off nearly 1% in premarket trading Wednesday. NKE 1Y mountain NKE 1Y chart As a catalyst for the change, the analyst pointed to new tariff headwinds and a potential looming “mild” recession.…
Houses undergo construction in a neighborhood on April 17, 2025 in Austin, Texas.Brandon Bell | Getty ImagesCompanies slowed hiring sharply in April as they braced against potential impacts from President Donald Trump’s tariffs against U.S. trading partners, ADP reported Wednesday.Private sector payrolls rose by just 62,000 for the month, the smallest gain since July 2024, amid heightened uncertainty over the degree of the tariffs and the impact they would have on hiring plans and broader economic conditions.The total marked a deceleration from the downwardly revised gain of 147,000 in March and missed the Dow Jones consensus estimate for an increase…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailGlenn Fogel, Booking Holdings CEO, joins ‘Squawk Box’ to discuss the company’s quarterly earnings results, state of travel demand, impact of policy uncertainty, utilizing AI for travel, and more. Source link
Apple CEO Tim Cook poses as Apple holds an event at the Steve Jobs Theater on its campus in Cupertino, California, on Sept. 9, 2024.Manuel Orbegozo | ReutersThe most anticipated part of Apple’s Thursday earnings won’t be iPhone sales or Mac forecasts – it’ll be CEO Tim Cook’s comments on how the company is dealing with President Donald Trump’s tariffs. Apple is one of the most exposed companies to Trump’s tariffs and expected retaliation. It makes about three-quarters of its overall revenue from physical goods — iPhones, Macs and Apple Watches — mostly made in China or elsewhere in Asia. And…
Gabby Jones | Bloomberg | Getty ImagesEtsy shares jumped in premarket trading on Wednesday after the company posted better-than-expected revenue for the first quarter.Here’s how the company did:Revenue: $651.2 million vs. $643 million, according to LSEGLoss: Loss per share of 49 centsThe e-commerce company reported a net loss of $52.1 million, or 49 cents per share, due to Etsy taking a $101.7 million impairment charge from the sale of Reverb. Etsy said earlier this month it will sell off the musical instrument marketplace it acquired in 2019 to focus on its core marketplace and Depop, the secondhand marketplace it bought…
A Pizza Hut store is seen on November 01, 2023 in Austin, Texas. Pizza Hut’s third-quarter revenue fell short of analysts’ expectations for same-store sales. Brandon Bell | Getty ImagesYum Brands on Wednesday reported mixed quarterly results as Pizza Hut’s same-store sales fell more than expected.Shares of the company fell less than 1% in premarket trading.Here’s what the company reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $1.30 adjusted vs. $1.29 expectedRevenue: $1.79 billion vs. $1.85 billion expectedYum reported first-quarter net income of $253 million, or 90 cents…
Sherwin-Williams looks to be relatively tariff-proof, according to Wells Fargo. The bank upgraded shares of the paint and coatings manufacturer to an overweight rating from equal weight. Analyst Michael Sison’s price target of $420, up from $350, corresponds to a potential upside of 21%. Shares of Sherwin-Williams have added 2.4% this year. SHW 1Y mountain SHW 1Y chart Sison pointed out that Sherwin-Williams should be strong enough to hedge against any potential tariff headwinds. “SHW noted in its release that given the majority of its revenue comes from the US (80% from the US, 2% from China), tariff impacts are…
