(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…
Uber has reached a momentous milestone, achieving its first-ever operating profit. The American ride-hailing giant, Uber Technologies Inc (NYSE: UBER), has successfully transitioned into a profitable enterprise, as evidenced by its latest financial results. The company reported pre-tax earnings of $326 million (£255 million), a remarkable turnaround from the previous year’s operating loss of $713…
By Valerie Insinna and Abhijith Ganapavaram (Reuters) -Shares of Spirit AeroSystems plummeted 27% on Wednesday after the aerospace manufacturer disclosed $105 million in losses on Boeing and Airbus aircraft production and forecast a bleak cash flow picture for the rest of the year. The outlook stunned analysts, who grilled executives about how the company planned…
(Reuters) – Equinix forecast third-quarter revenue below market estimates on Wednesday, a sign that demand for data centers was slowing as businesses curtail spending in an uncertain economy. Shares of the company fell more than 2% in extended trading, having risen by nearly a fourth so far this year. Equinix said it expects revenue of…
By Ernest Scheyder and Eric Onstad (Reuters) – Refining rare earths for the green energy transition is hard. Just ask MP Materials and Lynas. The world’s two biggest rare earths companies outside of China are facing challenges turning rock from their mines into the building blocks for magnets used across the global economy, from Apple’s…
By Anthony Deutsch AMSTERDAM (Reuters) -Ukrainians living in Russian-occupied territory are being forced to assume Russian citizenship or face harsh retaliation, including possible deportation or detention, U.S.-backed research published on Wednesday said. Yale University researchers said that as part of a plan by Moscow to assert authority over Ukrainians, residents of the Luhansk, Donetsk, Kherson…
By Jasper Ward and Gram Slattery WASHINGTON (Reuters) – The indictment of former President Donald Trump for his efforts to overturn his loss in the 2020 election may be unprecedented in the annals of American history, but it appears to have done little to soften the resolve of Republican voters poised to support his bid…
