Thomas Fuller | Lightrocket | Getty ImagesSpotify shares dropped about 4% Tuesday after the music streaming platform fell short of Wall Street’s expectations and posted weak guidance for the current quarter.Here’s how the company did versus LSEG estimates:Loss: Loss of .42 euros vs earnings of 1.90 euros per share expectedRevenue: 4.19 billion euros vs. 4.26 billion expectedThe Sweden-based music platform’s revenues rose 10% from about 3.81 billion euros in the year-ago period. The company posted a net loss of 86 million euros, or a loss of .42 euros per share, down from net income of 225 million euros, or 1.10…
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Bank of America is moving to the sidelines on Whirlpool after the company’s latest results suggest weaker near-term growth. Analyst Rafe Jadrosich downgraded Whirlpool to underperform from neutral. Accompanying the move, he lowered his price target by $30 to $70 to reflect the company’s dividend cut and elevated leverage, he said. Jadrosich’s new price target on the home appliance stock — which is already down roughly 14.5% this year — implies shares could lose another 28.5%. “We expect near-term uncertainty related to slowing discretionary demand, higher promotions, and a volatile environment in international markets to constrain WHR’s valuation multiple in…
A Norfolk Southern locomotive at a rail yard in Chicago, Illinois, US, on Friday, July 25, 2025. Jim Vondruska/Bloomberg via Getty Images | Bloomberg | Getty ImagesUnion Pacific said on Tuesday it would buy smaller rival Norfolk Southern in an $85 billion deal, to create the nation’s first coast-to-coast freight rail operator and reshape the movement of goods from grains to autos across the country.If approved, the deal would combine Union Pacific’s stronghold in the western two-thirds of the U.S. with Norfolk’s 19,500-mile network that primarily spans 22 eastern states.This would mark the largest-ever buyout in the sector, merging Union…
Medical bottles and a syringe are seen with the Novo Nordisk logo displayed on a screen in the background.Nurphoto | Nurphoto | Getty ImagesDanish pharmaceutical giant Novo Nordisk on Tuesday cut its full-year sales and profit guidance, citing weaker growth expectations for its Wegovy obesity drug in the key U.S. market.Shares were down 17% at 12:30 p.m. London time, shortly after the announcement (7:30 a.m. ET).The company said it now expects full-year sales growth of 8% to 14% at constant exchange rates, down from a prior target of 13% to 21%.It expects annual operating profit growth of 10% to 16%…
The nose cone of a Boeing 787 being displayed on the tarmac during the Paris Air Show at Le Bourget Airport, outside Paris, June 25, 2023.Nicolas Economou | Nurphoto | Getty ImagesBoeing slashed its quarterly losses as sales jumped after it delivered the most airplanes since 2018, the clearest sign yet of improvement at the manufacturer that has swung from crisis to crisis for years.Here’s how Boeing performed in the second quarter, compared with estimates compiled by LSEG:Loss per share: $1.24 adjusted vs a loss of $1.48 expectedRevenue: $22.75 billion vs $21.84 billion expectedThe aerospace giant lost $176 million in the three months ended June…
PayPal reported better-than-expected results for the second quarter and raised its full-year guidance for transaction margin dollars and earnings per share. The stock slipped more than 4% following the report.Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG:Earnings per share: $1.40 adjusted vs. $1.30 expectedRevenue: $8.29 billion vs. $8.08 billion expectedSales increased 5% from $7.89 billion a year earlier, as CEO Alex Chriss worked to roll off lower-margin revenue streams.Transaction margin dollars, a key measure of profitability, rose 7% to $3.84 billion, marking the company’s sixth straight quarter of growth.Total payment volume, an…
UnitedHealthcare signage is displayed on an office building in Phoenix, Arizona, on July 19, 2023.Patrick T. Fallon | Afp | Getty ImagesUnitedHealth Group on Tuesday issued a 2025 outlook that fell short of Wall Street’s expectations, as the company’s insurance unit continues to grapple with higher medical costs.Shares of UnitedHealth Group fell more than 3% in premarket trading on Tuesday. The company anticipates it will post 2025 adjusted earnings of at least $16 per share, with revenue of $445.5 billion to $448 billion. Wall Street analysts had expected 2025 adjusted profit of $20.91 per share, and full-year revenue of $449.16…
Merck & Co. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Tuesday, April 8, 2025. Michael Nagle | Bloomberg | Getty ImagesMerck on Tuesday said it will slash $3 billion in costs by the end of 2027 to be fully reinvested to support new product launches and its drug pipeline. The multi-year effort comes as Merck prepares to offset revenue losses from the upcoming patent expiration of its blockbuster cancer drug Keytruda in 2028. It also comes as drugmakers brace for President Donald Trump’s planned tariffs on pharmaceuticals imported into the U.S., which…
Shelf of pharmaceutical products. D3sign | Moment | Getty ImagesPharma firms are calling for clarity on tariffs imposed under the new U.S.-EU trade agreement, as analysts warn that punitive sector-specific levies could risk blowing up the entire deal.Ambiguity abounds around the terms for pharmaceutical goods under the trade truce agreed Sunday, which imposes 15% tariffs on EU goods imported to the U.S. U.S. President Donald Trump announced a “straight across” tariff on “automobiles and everything else,” during a news briefing, while simultaneously suggesting that pharma was “unrelated to this deal.”European Commission President Ursula von der Leyen, meanwhile, dubbed the agreed levy as…
Vehicles transporting people who had fled southern Lebanon are slowed down by heavy traffic on the outbound road from Beirut, in the area of Khaldeh on November 28, 2024, a day after a cease fire between Israel and Hezbollah took hold. Ibrahim Amro | Afp | Getty ImagesUp until a few months ago, the drive from Beirut’s international airport through the Lebanese capital city’s southern suburbs used to feature a stream of pro-Iranian and Hezbollah-themed propaganda. Hassan Nasrallah, the charismatic former leader of the Iran-backed group who was killed in Beirut last year, stared down at you from billboards while you drove…
