Dollar Tree (DLTR) posted second-quarter results that beat estimates but expects a weak third quarter and narrowed its full-year earnings outlook. The discount variety store operator, which includes Dollar Tree and Family Dollar stores, cited several issues weighing on margins, including “elevated shrink,” the industry’s term for retail theft. Dollar Tree’s shares fell more than… Continue reading Dollar Tree Eyes Higher-Income Shoppers, Q2 Sales Rise
Petco Cites Consumer Spending Pressures, Cuts 2023 Guidance
Petco Health and Wellness (WOOF) beat revenue and met earnings expectations for the second quarter but said that a shift in consumer spending and pressures on its discretionary business led it to issue a full-year profit warning. The pet supply retailer’s stock fell on the news by over 15% at the start of the today’s… Continue reading Petco Cites Consumer Spending Pressures, Cuts 2023 Guidance
The 2023 stock market rally is over as the Fed isn’t easing anytime soon and a hard landing of the economy is inevitable, JPMorgan’s chief stock strategist says
The rally in the S&P 500 is capped through the rest of the year, JPMorgan’s Dubravko Lakos said. That’s because there are a litany of negative factors heading into 2024 that will weigh on equities. The strength of the US economy has only postponed a coming recession, not averted one, he added. Loading Something is… Continue reading The 2023 stock market rally is over as the Fed isn’t easing anytime soon and a hard landing of the economy is inevitable, JPMorgan’s chief stock strategist says
The housing market will be stuck in a rut for a long time even if the US avoids a recession, Fannie Mae says
The downturn in the US housing market isn’t ending anytime soon, Fannie Mae warned. That’s because mortgage rates are set to stay elevated if the US avoids a recession. Even if the US does tip into recession, tight financial conditions will still weigh on home sales. Loading Something is loading. Thanks for signing up! Access… Continue reading The housing market will be stuck in a rut for a long time even if the US avoids a recession, Fannie Mae says
A ‘drop the mic’ moment: Here’s how Wall Street is reacting to Nvidia’s stunning 2nd-quarter earnings results
Nvidia’s blockbuster second-quarter earnings and third-quarter guidance blew away Wall Street’s expectations. “This AI demand story is as REAL as any tech trend we have seen in the last 30 years only comparable to the Internet in 1995 and Apple’s iPhone launch in 2007,” Wedbush said. Here’s how Wall Street is reacting to Nvidia’s stunning… Continue reading A ‘drop the mic’ moment: Here’s how Wall Street is reacting to Nvidia’s stunning 2nd-quarter earnings results
Advance Auto Parts Updates Guidance As Profits Fall
Advance Auto Parts’ (AAP) second-quarter revenue rose slightly but earnings sank as price increases could not offset higher product costs and supply chain deleverage. For the quarter ended July 15, Advance reported net sales growth of 0.8% to $2.7 billion, which beat analysts’ expectations, and diluted earnings per share down 39.9% to $1.43, which missed… Continue reading Advance Auto Parts Updates Guidance As Profits Fall
Stock Market Today: Stocks Soar Ahead of Nvidia Earnings
Stocks jumped out of the gate Wednesday and never looked back as optimism built ahead of this evening’s earnings report from major chipmaker and artificial intelligence (AI) giant Nvidia (NVDA). Before this major event, market participants took in another batch of mixed retail earnings and some disappointing economic data. Retailers continued to dominate earnings… Continue reading Stock Market Today: Stocks Soar Ahead of Nvidia Earnings
Toll Brothers Beats Q3 Estimates As New Home Sales Rise
Toll Brothers (TOL) reported better than expected third-quarter results amid strong demand for new homes and continued low supply of existing homes for sale. The performance reflected “a market for new homes that continues to benefit from historically low levels of resale inventory, favorable long-term demographic trends and the persistent underproduction of homes for well… Continue reading Toll Brothers Beats Q3 Estimates As New Home Sales Rise
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