Supply chain disruptions are causing a production backlog at the world’s largest truckmaker, Daimler Trucks. Bloomberg | Getty Images Shares of Daimler Truck hit a fresh all-time high Friday, spiking more than 13.5% in early deals, after posting record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. The German truck … Read more
Arc of Triomphe Paris, Champs-Elysees France at night vichie81 / iStock / Getty Images Plus LONDON — Around a half of European companies missed earnings expectations in the latest reporting season despite already low expectations, analysts told CNBC, who predicted that the region will continue to struggle amid high interest rates. As of Feb. 29 … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. (We’re no longer recording the audio, so we can get this new written feature to members as quickly as possible.) Inflation relief: The stock market was … Read more
Matthew Busch | Bloomberg | Getty Images Shares of Dell Technologies popped more than 15% in extended trading Thursday after the company released fourth-quarter results that beat analysts’ estimates and showed strong demand for its artificial intelligence servers. Here’s how the company did: Earnings per share: $2.20 adjusted vs. $1.73 expected by LSEG, formerly known … Read more
People walk past a Best Buy store in Manhattan, New York City, November 22, 2021. Andrew Kelly | Reuters Best Buy surpassed Wall Street’s revenue and earnings expectations for the holiday quarter on Thursday, even as the retailer navigated through a period of tepid consumer electronics demand and guided to a softer year ahead. For … Read more
Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California. Ethan Swope | Getty Images Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Here’s how the shoemaker did in its … Read more
A view of iQiyi’s website featuring a variety TV show, taken on Tuesday, Aug. 22, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is “excited” about potential new business opportunities with the emergence of OpenAI’s text-to-video tool Sora. Speaking exclusively to CNBC … Read more
Marc Benioff, co-founder and CEO of Salesforce, speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Salesforce shares slid as much as 6% in extended trading on Wednesday after the business software maker issued a light revenue forecast for the … Read more
Paramount Global missed revenue expectations for the fourth quarter Wednesday but posted a surprise quarterly profit and posted strong results from its streaming platform Paramount+. Here’s how Paramount performed in the fourth quarter compared to Wall Street estimates from LSEG, formerly known as Refinitiv: Earnings per share: 4 cents vs. an expected loss of 1 … Read more
TJX Cos. on Wednesday said holiday sales jumped 13% as shoppers hunting for deals flocked to the off-price retailer. Despite the strong quarter and end to its fiscal year, the company issued guidance that came in light of Wall Street’s expectations as it prepares for tougher comps in the year ahead and an uncertain growth … Read more
