Goldman Sachs is sticking with its buy rating for Brinker International , despite investors dumping the stock after its fiscal third-quarter earnings report on Tuesday. Brinker International, which owns chains such as Chili’s and Maggiano’s Little Italy, reported fiscal third-quarter adjusted earnings of $2.66 per share on revenue of $1.43 billion. This exceeded the profit of $2.56 per share on revenue of $1.38 billion that analysts polled by FactSet had expected. The company also raised its full-year revenue guidance versus its previous outlook. However, investors still sent the stock down 15% on Tuesday, as some viewed the growth as unsustainable.…
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The stock market is starting to act like the worst of the tariff disputes is over, but investors may want to wait to see if the economy avoids recession before jumping back on the bull market bandwagon, according to Goldman Sachs. The S & P 500 has risen for six straight trading sessions and is now down less than 1% in April, erasing almost all its losses from immediately after the “Liberation Day” tariff rollout. From the March 31 close to the April 7 intraday low, the S & P 500 was briefly down 13.8% in less than five trading days.…
Evan Spiegel, CEO of Snap Inc., speaks onstage during the Snap Partner Summit 2023 at Barker Hangar on April 19, 2023 in Santa Monica, California. Joe Scarnici | Getty Images Entertainment | Getty ImagesSnap shares fell more than 15% Wednesday after the social media company withheld second-quarter guidance due to the uncertain macroeconomic environment.”While our topline revenue has continued to grow, we have experienced headwinds to start the current quarter, and we believe it is prudent to continue to balance our level of investment with realized revenue growth,” the company said Tuesday, adding that macro conditions could impact advertising demand.Snap’s finance…
U.S. President Donald Trump speaks during a rally to mark his 100th day in office, at Macomb Community College in Warren, Michigan, U.S., April 29, 2025. Evelyn Hockstein | ReutersPresident Donald Trump on Wednesday blamed his predecessor and defended his sweeping tariffs after new data showed the U.S. economy contracting last quarter, while warning that his promised “boom” will “take a while.””This is [former President Joe] Biden’s Stock Market, not Trump’s. I didn’t take over until January 20th,” Trump said in a Truth Social post. “Tariffs will soon start kicking in, and companies are starting to move into the USA…
First Solar missed expectations on profit and offered investors weak guidance on Tuesday, but most analysts nonetheless remain bullish on the solar panel manufacturer. Shares of First Solar plummeted 13% in Wednesday’s premarket trading hours after the company reported first-quarter earnings of $1.95, missing the $2.49 analysts polled by FactSet had forecast. While the company’s first-quarter revenue beat expectations, First Solar’s second-quarter earnings guidance also missed the mark. First Solar sees its earnings for the current quarter coming in between $2 to $3 per share, lower than FactSet’s estimate of $3.99. As an additional blow, the company lowered its full-year…
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…
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…
