By Chavi Mehta, Stephen Nellis and Max A. Cherney (Reuters) -Qualcomm forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The San Diego, California-based company said it also expects no further sales to Chinese…
By Yuvraj Malik (Reuters) -Canada’s Shopify forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. Merchants and businesses are turning to Shopify, which offers tools to create and manage online store-fronts, as retail spending picks up on signs of stabilizing…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. No doubt about it, Wednesday was one of the gloomiest days in a long time for stock markets around the world, as Fitch’s surprise move to strip the U.S. of its AAA credit rating gave…
By Granth Vanaik (Reuters) -DoorDash raised its annual core profit forecast for a second time and posted an upbeat quarterly revenue as groceries and food orders jumped, sending its shares up more than 4% after the bell on Wednesday. The delivery firm posted its highest revenue since its IPO in Dec. 2020 as people stick…
By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) -Bahta Mekonnen, a 28-year-old in the key voting state of Georgia, is among the millions of Black voters who helped deliver President Joe Biden the White House in 2020. Three years later, he is one of the voters who Democrats fear could cost Biden a second term…
(Reuters) – MetLife on Wednesday reported second-quarter profit above expectations as a rally in U.S. markets boosted returns from the insurer’s investments. Wall Street has rebounded this year on hopes that the Federal Reserve could tame sky-high inflation without tipping the economy into a recession, amid hints that the central bank is nearing the end…
(Reuters) – C.H. Robinson Worldwide missed quarterly estimates for sales and profit on Wednesday as the logistics company struggled with waning demand and lower pricing for its services. The global shipping industry has grappled with a slowdown in volumes in the last few quarters as high inflation and recession fears dented consumer spending compared to…
(Reuters) – Cognizant Technology Solutions forecast third-quarter revenue above estimates on Wednesday as more businesses turn to the IT services provider to digitize their operations, sending its shares up more than 6% after the bell. The company also said CFO Jan Siegmund would retire in early 2024. The New Jersey-based company expects current-quarter revenue of…
By Hannah Lang (Reuters) -Robinhood Markets Inc reported higher second-quarter revenue on Wednesday as interest rates continued to buoy the online brokerage’s interest income, achieving profitability for the first time as a public company even as it saw fewer users. Shares of the company, which was at the center of 2021’s retail trading frenzy, were…
Robinhood Markets Inc (NASDAQ:HOOD) is gearing up to announce its second-quarter earnings on Wednesday after the market closes. Investors are eagerly anticipating the results as they could shed light on retail trading activity. Let’s delve into what can be expected. Robinhood By The Numbers: The company, headquartered in Menlo Park, California, is projected to report…
