Rhineland-Palatinate, Mainz: Fruit is sold at the weekly market.Andreas Arnold/dpa | Picture Alliance | Getty ImagesGerman inflation fell more than expected to 1.8% in July, data from statistics agency Destatis showed Thursday.Economists polled by Reuters had anticipated inflation to dip to 1.9%. July’s reading compares to the 2% print recorded in June, which brought the German inflation rate in line with the European Central Bank’s target.The figures are harmonized across the euro zone to ensure comparability. Euro zone inflation data is due later this week, with the reading forecast to come in at 1.9%.So-called core inflation, which strips out food…
Author: usaeverydaylife
Novo Nordisk shares nosedived on the day its new chief executive, Maziar Mike Doustdar, was appointed. But that shouldn’t have come as a surprise to investors. Minutes before the news of Doustdar’s appointment on Tuesday, the Danish pharmaceutical giant reported a profit warning, slashing its operating profit growth by around a third to the new normal of 10% to 16%. It also forecast slower-than-expected top-line growth. NVO 5D mountain The company appears to have cleared the deck for its new CEO, but far from being a unique strategy to reset expectations with investors, it has now become a “pretty common…
Comcast beat Wall Street estimates on Thursday for second-quarter earnings and revenue. Yet the company saw a loss of broadband customers even as it pivoted its market strategy for the segment.Comcast and its cable peers have been suffering from a slowdown in broadband growth, which has impacted company stocks. Comcast stock was up about 4% in premarket trading. Here’s how Comcast did in its second quarter compared with Wall Street estimated, according to LSEG:Earnings per share: $1.25 adjusted vs. $1.18 expectedRevenue: $30.31 billion vs. $29.81 billion expectedRevenue of $30.31 billion was a 2% increase year over year. For the second quarter, the company’s net…
Analysts and investors liked what they just heard from Microsoft . For the company’s fiscal fourth quarter , Microsoft earned $3.65 per share on $76.44 billion in revenue. That’s better than the $3.37 per share and $73.81 billion in revenue that analysts surveyed by LSEG were looking for. Azure’s revenue growth was a standout figure of the report, as it rose 39% during the quarter. Analysts polled by StreetAccount had expected growth of 34.4%. Looking ahead, Microsoft said it anticipates Azure growing 37%, better than the StreetAccount consensus estimate of 33.7%. Investors were encouraged by the report, as Microsoft shares…
The Moderna Inc. headquarters in Cambridge, Massachusetts, on March 26, 2024.Adam Glanzman | Bloomberg | Getty ImagesModerna on Thursday said it plans to slash roughly 10% of its global workforce by the end of the year, as Covid shot sales continue to dwindle and the company grapples with uncertainty in the vaccine market. In a memo to employees, Moderna CEO Stephane Bancel said the company expects to have fewer than 5,000 workers by the end of the year. Moderna had approximately 5,800 full-time employees in 18 countries as of Dec. 31, 2024, according to its 2024 annual report. Shares of Moderna have…
Investors should buy the recent dip in CoreWeave as strong AI demand will power shares higher, according to Citi. Analyst Tyler Radke upgraded the artificial intelligence cloud computing stock to buy from neutral. His price target of $160 implies upside of 55% from Wednesday’s close. Despite more than doubling since its IPO in late March, CoreWeave has tumbled nearly 37% over the past month, with investors skeptical about the company’s $9 billion acquisition of Core Scientific. That said, Radke noted that Microsoft’s strong quarterly figures signal AI demand remains strong — which will boost CoreWeave long term. CRWV 1M mountain…
MLB will be playing its first ever baseball game at Bristol Motor Speedway in Tennessee.MLBMajor League Baseball is taking America’s pastime to an iconic NASCAR track, and the game is set to top league attendance records.On Saturday, MLB will play its first-ever game in Tennessee as part of the MLB Speedway Classic, where the Atlanta Braves will face off against the Cincinnati Reds at Bristol Motor Speedway.It will mark the first time a professional baseball game has ever been played at a professional race car track, and MLB will incorporate NASCAR-themed elements throughout the event.The event is MLB’s latest effort…
Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024.Noah Berger | Getty ImagesLONDON — Britain’s competition regulator on Thursday declared that Microsoft and Amazon are hurting competition in the cloud computing industry and called for a further probe under the country’s strict new tech rules.The Competition and Markets Authority said that market concentration and barriers to entry in the cloud services market have enabled both Microsoft and Amazon to hold “significant unilateral market power” and reap financial gain exceeding the cost of capital expenditure over a…
CNBC’s Jim Cramer on Wednesday explained why he’s positive on Starbucks for the long term, even as the coffee chain reported a same-store sales decline that led to a choppy day of trading.”If Brian Niccol keeps delivering on the turnaround front, I bet Starbucks and its shareholders will be huge winners,” he said. “That’s still my expectation here, and I feel even better about it tonight than I did last night before the company reported.”Starbucks posted a revenue beat but didn’t meet earnings estimates. The coffee company saw same-store sales fall for the sixth consecutive quarter, but CEO Brian Niccol…
Budweiser beer cans displayed for sale in a supermarket. Sopa Images | Lightrocket | Getty ImagesShares of AB InBev plunged as much as 11% Thursday after the world’s largest brewer posted a worse-than-feared decline in second-quarter volumes, even as revenues and profits surged ahead.The Budweiser maker said volumes declined 1.9% year-on-year over the three-month period, well ahead of the 0.3% dip forecast by analysts on the back of weaker demand for its beer products.Shares had pared down their losses and were last seen down 8.71% at 9:49 a.m. London time (4:49 a.m. ET).The drop was led by China, where volumes…
