Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to


Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to
Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, fell, stocks, rose, kimberlyclark, shares, midday, company, reported, tesla, energy, share, sector, announced, biggest, boeing, moves, making, report


Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:

Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv.

Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to investigate.

Boeing — Shares of the airline manufacturer dropped 1.3% following The New York Times’ report that Boeing ignored workers’ concerns over its production quality of 787 Dreamliner jets. Complaints come after two fatal crashes since October of its 737 Max.

CannTrust Holdings — Shares of CannTrust Holdings dropped 3.4% after the Canadian producer of medical and recreational cannabis announced it will issue $200 million worth of additional shares.

Bed Bath & Beyond — Bed, Bath & Beyond fell 4% after the housewares retailer announced it will be reconstructing its board. Five independent directors, the company’s founders and the co-chairman will all leave their positions on the board. Lead independent director Patrick Gaston has been named as the new chairman of the board.

Chevron, Exxon Mobil — Shares of the major energy companies rose 1.7% and 2.2%, respectively, after the U.S. announced it will halt sanction waivers to countries importing oil from Iran. The broader energy sector also outperformed on Monday, with the Energy Select Sector SPDR Fund surging 2.1%.

Rent-A-Center — Rent-A-Center shares jumped 7.2% after the company settled a lawsuit related to the termination of its merger with Vintage Capital Management. The company received more than $92 million from the deal.

W.W. Grainger – Shares of the industrial product distributor fell more than 5% after reporting revenue that missed Wall Street forecasts. The company’s CEO said sales were “softer than expected.” Earnings, however, did beat expectations, and W.W. Grainger reiterated its outlook for the remainder of the year. The stock is on pace for its worst day of trading since early December.

—CNBC’s Nadine El-Bawab, Jessica Bursztynsky and JR Reed contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
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Stocks making the biggest moves midday: Pinterest, Zoom, Blackstone & more

United Rentals — United Rentals shares soared 8.1% after the equipment rental company reported strong first-quarter earnings. The company reported $4.85 per share, topping a Refinitiv estimate of $4.77 per share. Travelers — Travelers rose 2.3% after the company reported first-quarter earnings that beat estimates. Alcoa — Shares of the aluminum company fell more than 3.5% after it missed Wall Street estimates in its first quarter financial report. Skechers reported earnings of 71 cents per share


United Rentals — United Rentals shares soared 8.1% after the equipment rental company reported strong first-quarter earnings. The company reported $4.85 per share, topping a Refinitiv estimate of $4.77 per share. Travelers — Travelers rose 2.3% after the company reported first-quarter earnings that beat estimates. Alcoa — Shares of the aluminum company fell more than 3.5% after it missed Wall Street estimates in its first quarter financial report. Skechers reported earnings of 71 cents per share
Stocks making the biggest moves midday: Pinterest, Zoom, Blackstone & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: fred imbert, richard drew
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Stocks making the biggest moves midday: Pinterest, Zoom, Blackstone & more

Check out the companies making headlines midday Thursday:

Zoom Video Communications — Shares of the videoconferencing software company Zoom surged 72.2% on Thursday, its first day of trading. The stock traded as high as $66, compared with its initial price of $36. The bump gave Zoom a market cap of $16.7 billion.

Pinterest — Pinterest surged more than 28% in its first day of trading. The lift pushed Pinterest’s market cap up $2.7 billion greater than when it was initially priced at $19 per share, which had valued it at $10 billion. The stock traded as high as $24.05.

United Rentals — United Rentals shares soared 8.1% after the equipment rental company reported strong first-quarter earnings. The company reported $4.85 per share, topping a Refinitiv estimate of $4.77 per share.

Blackstone Group — Blackstone shares surged more than 7% after the private equity giant announced it will change its status to a corporation from its current one of a publicly traded partnership. CEO Steve Schwarzman said the change will let more people buy the company’s stock.

Honeywell International — Honeywell climbed 3.8% after the multinational reported better than expected first-quarter earnings. The company showed profit of $1.92 per share, 9 cents higher than expected. Honweywell cited strong demand for its aerospace parts and raised its full 2019 fiscal year forecast.

StoneCo — The Brazilian payments processor fell more than 23.7% after rival Itau Unibanco’s card processing business slashed interest rates for small- and medium-sized merchants.

Travelers — Travelers rose 2.3% after the company reported first-quarter earnings that beat estimates. The insurer posted earnings of $2.83 per share, 9 cents above a Refinitiv estimate. Travelers also hiked it dividend to 82 cents per share.

Snap-on — Snap-on shares jumped 6.5% after reporting strong first-quarter earnings. The company reported $3.01 earnings per share for the quarter, surpassing Refinitiv’s estimate of $2.90. The manufacturing company’s sales fell 1.5% to $921.7 million, however, missing analysts estimates.

Eagle Materials — The building materials company rose more than 6.5% after announcing it is reviewing its strategic portfolio options, which may include selling itself. The company also issued better than expected preliminary earnings guidance.

Canopy Growth — Canopy Growth climbed 4% after the Canadian pot grower announced a $3.4 billion deal to acquire U.S. weed operator Acreage Holdings after cannabis gets legalized in the United States. The deal grants Canopy the right to buy all of Acreage’s stock following nationwide legalization.

Alcoa — Shares of the aluminum company fell more than 3.5% after it missed Wall Street estimates in its first quarter financial report. Alcoa reported a loss of 23 cent per share, while analysts polled by Refinitiv expected a loss of 13 cents. Revenue also fell short, coming in at $2.72 billion versus $2.81 billion expected.

Atlassian — Atlassian plunged over 8.3% despite the company beating Wall Street’s estimates on earnings and revenue in its fiscal third-quarter report. The software development company issued weak guidance for its fiscal fourth quarter, sending the stock down.

J.B. Hunt Transport Services — The trucking company’s stock fell 1.3% after Deutsche Bank downgraded it to sell from buy, noting “it’s clear from our work that the trajectory of returns is negative.”

J.M. Smucker — J.M. Smucker climbed more than 1% after an analyst at Morgan Stanley upgraded the stock to equal weight from underweight. The analyst said its reinvestment strategy is paying off.

Snap — Shares of the social media company fell 0.6% after an analyst at Wedbush Securities downgraded them to neutral from outperform, citing limited upside from current levels.

Morgan Stanley — Morgan Stanley dipped 1.5% after Citi downgraded the bank to neutral from buy, saying the stock is “fairly valued.” Morgan Stanley’s stock got a 2.6% boost Wednesday from its solid first-quarter earnings, but Citi said the shares have little room to grow and is already in line with its 12-month price target of $48.

Skechers USA — The shoe maker’s stock dropped more than 10% on the back of weaker-than-expected quarterly results. Skechers reported earnings of 71 cents per share, below a StreetAccount estimate of 73 cents. The company’s second-quarter guidance also disappointed analysts.

—CNBC’s Nadine El-Bawab , Jessica Bursztynsky , Isabel Soisson and Matt Lavietes contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: fred imbert, richard drew
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Citigroup earnings beat expectations amid buybacks, but revenues fall

Citigroup reported mixed first-quarter results on Monday, saying its earnings were boosted by share buybacks while revenues fell amid a sharp decline in equities trading. However, the company’s overall revenue fell 2% following a sharp slowdown in its equity trading business. Citigroup shares fell 0.9% after the banking giant released its results. Also Monday, Goldman Sachs reported first-quarter earnings that beat analysts’ estimates but revenue dropped 13%. J.P. Morgan and Wells Fargo both rep


Citigroup reported mixed first-quarter results on Monday, saying its earnings were boosted by share buybacks while revenues fell amid a sharp decline in equities trading. However, the company’s overall revenue fell 2% following a sharp slowdown in its equity trading business. Citigroup shares fell 0.9% after the banking giant released its results. Also Monday, Goldman Sachs reported first-quarter earnings that beat analysts’ estimates but revenue dropped 13%. J.P. Morgan and Wells Fargo both rep
Citigroup earnings beat expectations amid buybacks, but revenues fall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, vincent isore, getty images
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Citigroup earnings beat expectations amid buybacks, but revenues fall

Citigroup reported mixed first-quarter results on Monday, saying its earnings were boosted by share buybacks while revenues fell amid a sharp decline in equities trading.

Here’s how the company’s results measured up to analyst forecasts:

Earnings: $1.87 per share vs $1.80 expected by Refinitiv

Revenue: $18.576 billion vs $18.634 billion forecast

Fixed-income, currencies and commodities trading revenue: $3.452 billion vs $3.05 billion expected by StreetAccount

Equities trading: $842 million vs $930 million

Investment banking revenue: $1.354 billion vs $1.2 billion forecast

The bank repurchased $4.06 billion in shares in the first quarter and returned $1.08 billion to shareholders through common-stock dividends.

“Our earnings reflect the progress we are making to improve our return on and return of capital,” CEO Michael Corbat said in a release. “We remain committed to executing our strategy and continuing to make steady progress towards our financial targets.”

Citigroup’s earnings for the quarter were 11% higher on a year-over-year basis. However, the company’s overall revenue fell 2% following a sharp slowdown in its equity trading business.

Equity-trading revenue fell 24% in the first quarter. Citigroup said the drop reflected “lower market volumes and client financing balances.” The sharp decline was partially offset by a 20% revenue surge in investment banking revenue.

Citigroup shares fell 0.9% after the banking giant released its results.

Also Monday, Goldman Sachs reported first-quarter earnings that beat analysts’ estimates but revenue dropped 13%.

Citigroup shares have been on fire this year, rallying nearly 30% in that time period. The stock is also outperforming peers like J.P. Morgan Chase, Wells Fargo, Morgan Stanley and Bank of America.

On Thursday, Citi announced the retirement of President Jamie Forese, who was considered a potential successor to Corbat.

J.P. Morgan and Wells Fargo both reported quarterly earnings on Friday that topped analyst expectations.

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Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, vincent isore, getty images
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Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more

Check out the companies making headlines midday Monday:Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Serv


Check out the companies making headlines midday Monday:Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Serv
Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, spotify, moves, biggest, company, billion, lyft, dropped, management, waste, service, midday, sachs, stocks, shares, stock, revenue, making, fell


Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more

Check out the companies making headlines midday Monday:

Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Citigroup’s earnings per share topped analyst expectations as the company repurchased more than $4 billion in stock. However, revenue fell amid a drag in equity-market trading.

Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Sales of its institutional client services trading division, the bank’s biggest business, fell 18% year over year.

Levi Strauss — The jeans maker’s stock rose 1.4% after analysts at J.P. Morgan initiated it with an overweight and set a $26 year-end price target. “We view the combination of a strong tenured management team led by CEO C. Bergh and brand heritage … as a competitive advantage in expanding to a global lifestyle brand,” J. P. Morgan said in a statement.

Nokia — Nokia dropped nearly 5% after Goldman Sachs downgraded the stock to sell from neutral, citing increasing competition from companies like Samsung and Ericsson. Goldman’s estimates show Ericsson holds 29% of the global wireless networking market, Nokia and Huawei each hold 23%, while Samsung only holds 5% of the market.

Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Services for about $3 billion. The top waste management service company would pay $33.15 per share in cash for Advanced Disposal, in a move to expand its footprint in the eastern United States.

Insys Therapeutics — Shares of the pharmaceutical company dropped nearly 10% after announcing CEO Saeed Motahari will leave his post. Andrew Long will be the new CEO. Motahari’s departure follows the end of closing arguments in the criminal trial of executive John Kapoor. Prosecutors say Kapoor, along with four co-defendants, bribed doctors.

Spotify Technology — Spotify dropped more than 5% after reports said Amazon is in talks to launch a free music streaming service. Billboard, citing sources familiar with the matter, reported the ecommerce giant would make the service available as soon as next week through its Echo speakers. Amazon’s move would put pressure on music-streaming giant Spotify, which has a freebie option that lets users listen to select albums.

Gogo — Shares of the in-flight internet service company soared over 13% after releasing preliminary first-quarter earnings and announcing a $900 secured notes offering. The company cited better-than-expected commercial aviation service revenue and low operating costs behind its financial gains.

Lyft — Shares of Lyft plunged 6.34% after the ride sharing company announced it will recall thousands of electric bikes in its bike-share programs in New York, Washington and San Francisco because of a braking problem. This came after riders reported “stronger than expected braking force on the front wheel.”

—CNBC’s Yun Li, Nadine El-Bawab and Jessica Bursztynsky contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, getty images
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Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year


Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year
Boeing first-quarter deliveries and orders sink after 737 Max groundings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
Keywords: news, cnbc, companies, announced, 737, boeing, model, max, groundings, orders, firstquarter, deliveries, sink, tumbled, fell, 737s


Boeing first-quarter deliveries and orders sink after 737 Max groundings

Boeing announced Tuesday that deliveries and new orders for all of its 737 jets fell in the first quarter.

The plane maker has halted deliveries of the 737 Max, the latest model of the popular narrow-body jet, after faulty data feeding into the aircraft’s automated flight system was implicated in two fatal crashes that killed all 346 people aboard the flights. Boeing announced Friday that it’s cutting production by 20 percent as it tries to find a software fix to get the planes flying again. They’ve been grounded since the second crash in mid-March.

Deliveries of its 737s tumbled to 89 during the first three months of the year, a dip from 132 during the same period last year. Total orders for 737s, the majority of which were for the newer Max model, fell to 95 in the first quarter, a drop from 180 a year earlier. There were no new 737 Max orders in March.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: emma newburger, lindsey wasson
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Dow starts week with 80-point decline led by Boeing

Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season. Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.


Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season. Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.
Dow starts week with 80-point decline led by Boeing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: fred imbert, spencer platt, getty images
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Dow starts week with 80-point decline led by Boeing

Stocks fell on Monday as Wall Street digested strong gains from the previous week and looked ahead to the start of the corporate earnings season.

The Dow Jones Industrial Average declined by 84 points. The S&P 500 eked out a 0.1% gain at 2,895.75, in danger of snapping a seven-day winning streak, as the industrial sector dipped 0.4%. The Nasdaq Composite ended Monday 0.2% higher.

“Equity trends remain steadfastly bullish but are now getting stretched, and have arrived at near-term areas where resistance could set in,” said Mark Newton, managing member at Newton Advisors. “Momentum is nearing overbought territory yet again after one of the best quarters in over 20 years time, while the groups that have led this rally, namely technology, consumer discretionary and industrials, are now up to levels near prior highs which are thought to be important from a price perspective.”

Shares of Boeing and General Electric led the decline. Boeing dropped more than 4% after Bank of America Merrill Lynch cut its rating on the aerospace giant to neutral from buy. The bank said it expects production of the 737 Max jet to be delayed by six to nine months. This follows a deadly plane crash from last month that involved a 737 Max plane.

GE, meanwhile, fell more than 5% after J.P. Morgan downgraded the stock, noting: “We believe many investors are underestimating the severity of the challenges and underlying risks at GE, while overestimating the value of small positives.”


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: fred imbert, spencer platt, getty images
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Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart


Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart
Samsung warns first-quarter profits fell by 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
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Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business.

The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018.

Friday’s number also missed analysts’ estimate of 6.8 trillion won.

Samsung is set to release full earnings for the first quarter later this month.

Samsung shares dipped 0.21 on Friday, tracking behind the Korean benchmark Kospi, which closed in positive territory. The relatively neutral reaction in the stock market was likely because investors were already expecting the profit drop for the January-March period, following a warning from Samsung last month.

In a March regulatory filing, the smartphone and chip maker predicted a bigger-than-expected price decline for major memory products — its main profit-making business — due to seasonal weakness in demand. Those components are used in mobile handsets and enterprise servers.

A slowdown in data center companies buying memory chips, as well as flagging smartphone sales have affected demand for Samsung’s memory chips, according to analysts. But the company isn’t alone — the entire semiconductor sector is undergoing a period of inventory adjustment, experts said.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, smartphone, samsung, warns, won, profits, quarter, fell, 60, korean, weakness, period, firstquarter, memory, profit, trillion


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Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart


Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business. The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018. Friday’s number also missed analysts’ estimate of 6.8 trillion won. Samsung is set to release full earnings for the first quart
Samsung warns first-quarter profits fell by 60 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, smartphone, samsung, warns, won, profits, quarter, fell, 60, korean, weakness, period, firstquarter, memory, profit, trillion


Samsung warns first-quarter profits fell by 60 percent

Samsung Electronics’ first-quarter profits likely fell almost 60 percent from a year ago due to weakness in its display and memory business.

The South Korean tech giant said on Friday its operating profit for the three months ended March would be around 6.2 trillion Korean won ($5.5 billion), a sharp decline from the 15.64 trillion won seen in the first quarter of 2018.

Friday’s number also missed analysts’ estimate of 6.8 trillion won.

Samsung is set to release full earnings for the first quarter later this month.

Samsung shares dipped 0.21 on Friday, tracking behind the Korean benchmark Kospi, which closed in positive territory. The relatively neutral reaction in the stock market was likely because investors were already expecting the profit drop for the January-March period, following a warning from Samsung last month.

In a March regulatory filing, the smartphone and chip maker predicted a bigger-than-expected price decline for major memory products — its main profit-making business — due to seasonal weakness in demand. Those components are used in mobile handsets and enterprise servers.

A slowdown in data center companies buying memory chips, as well as flagging smartphone sales have affected demand for Samsung’s memory chips, according to analysts. But the company isn’t alone — the entire semiconductor sector is undergoing a period of inventory adjustment, experts said.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: saheli roy choudhury
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Stocks fall as yields dip amid economic fears

Stocks fell on Wednesday, tracking bond yields, as worries over a possible economic slowdown lingered. The Dow Jones Industrial Average traded 66 points lower and briefly fell more than 200 points. The U.S. trade deficit fell to $51.15 billion in January, much more than was expected and could give a boost to this quarter’s GDP. Abiomed and Advanced Micro Devices were among the worst-performing stocks in the S&P 500, sliding more than 3.5 percent each. “We are seeing a rising probability of reces


Stocks fell on Wednesday, tracking bond yields, as worries over a possible economic slowdown lingered. The Dow Jones Industrial Average traded 66 points lower and briefly fell more than 200 points. The U.S. trade deficit fell to $51.15 billion in January, much more than was expected and could give a boost to this quarter’s GDP. Abiomed and Advanced Micro Devices were among the worst-performing stocks in the S&P 500, sliding more than 3.5 percent each. “We are seeing a rising probability of reces
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Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: fred imbert, brendan mcdermid
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Stocks fall as yields dip amid economic fears

Stocks fell on Wednesday, tracking bond yields, as worries over a possible economic slowdown lingered.

The Dow Jones Industrial Average traded 66 points lower and briefly fell more than 200 points. The S&P 500 and Nasdaq Composite declined 0.4 percent and 0.6 percent, respectively.

Earlier in the day, the major averages traded higher on better-than-expected trade data. The U.S. trade deficit fell to $51.15 billion in January, much more than was expected and could give a boost to this quarter’s GDP.

Health care, utilities and tech were the worst-performing sectors, falling more than half a percent. Abiomed and Advanced Micro Devices were among the worst-performing stocks in the S&P 500, sliding more than 3.5 percent each.

The benchmark 10-year rate traded at 2.365 percent and hit its lowest level since late 2017. Investors are keeping an eye on rates after the 10-year fell below the 3-month rate last week for the first time since 2007. It is a development that investors call an inverted yield curve and is seen as an early indicator of a recession.

The U.S. Treasury yield curve has inverted before each recession in the past 50 years and has only offered a false signal just once in that time, according to data from Reuters.

“All eyes are going to be on the Treasury market,” said Michael Reynolds, investment strategy officer at Glenmede. “We are seeing a rising probability of recession in recognition of these rising risks, but we’re not blowing off the top just yet.”


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, fell, sp, economic, worstperforming, recession, stocks, treasury, trade, dip, fall, fears, yields, yield, rising, traded, amid


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US efforts to cut trade deficit show biggest win in almost a year

Economists surveyed by Dow Jones had forecast that the balance fell to $57 billion in January, from the $59.9 billion recorded the previous month. Exports rose to $207.3 billion, a $1.9 billion increase from December, while imports fell to $258.5 billion, off $6.8 billion. The goods deficit dropped 10 percent to $73.3 billion while the services surplus edged higher to $22.1 billion. “Nonetheless, with imports now likely to have been flat, or fallen slightly, in the first quarter overall, net tra


Economists surveyed by Dow Jones had forecast that the balance fell to $57 billion in January, from the $59.9 billion recorded the previous month. Exports rose to $207.3 billion, a $1.9 billion increase from December, while imports fell to $258.5 billion, off $6.8 billion. The goods deficit dropped 10 percent to $73.3 billion while the services surplus edged higher to $22.1 billion. “Nonetheless, with imports now likely to have been flat, or fallen slightly, in the first quarter overall, net tra
US efforts to cut trade deficit show biggest win in almost a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: jeff cox, andy wong, afp, getty images, kevin lamarque
Keywords: news, cnbc, companies, estimate, fell, deficit, win, global, positive, billion, biggest, cut, imports, likely, trade, fall, efforts


US efforts to cut trade deficit show biggest win in almost a year

China seems to think that it is ‘out of the woods’: Professor 10 Hours Ago | 01:44

The trade deficit between the U.S. and its global partners dropped sharply in January to $51.15 billion as exports rebounded from a slowdown at the end of 2018, the Commerce Department reported Wednesday.

Economists surveyed by Dow Jones had forecast that the balance fell to $57 billion in January, from the $59.9 billion recorded the previous month.

The decline of 14.6 percent represented the sharpest drop since March 2018 and comes amid continued efforts by the Trump administration to level the playing field with China and other global partners.

Exports rose to $207.3 billion, a $1.9 billion increase from December, while imports fell to $258.5 billion, off $6.8 billion. The goods deficit dropped 10 percent to $73.3 billion while the services surplus edged higher to $22.1 billion.

“The sharp fall in the trade deficit in January was primarily due to a larger than expected fall in imports, which is hardly a positive sign for the economy,” Michael Pearce, senior U.S. economist at Capital Economics, said in a note. “Nonetheless, with imports now likely to have been flat, or fallen slightly, in the first quarter overall, net trade is likely to be a positive for economic growth in the first quarter.”

Following the trade report, the Atlanta Federal Reserve raised its estimate of first-quarter GDP to 1.5 percent. The estimate had been as low as 0.2 percent on March 12.


Company: cnbc, Activity: cnbc, Date: 2019-03-27  Authors: jeff cox, andy wong, afp, getty images, kevin lamarque
Keywords: news, cnbc, companies, estimate, fell, deficit, win, global, positive, billion, biggest, cut, imports, likely, trade, fall, efforts


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