This Week’s Big Bank Earnings Give Clues About the Economy

Sometimes a cigar is just a cigar, according to Freud. But bank earnings announcements are always about more than their stocks alone. That’s why Wall Street anxiously watched Citigroup’s earnings report Monday morning. Even though profits and revenue beat estimates, shares were down about 0.4% as of midday. Bank stocks are considered bellweathers, and parsing […]

The Stock Market Is Completely Ignoring Negative Earnings Guidance. Why?

It should be an unnerving time for equities investors. As of July 3, 88 out of 114 S&P 500 companies that released earnings and issued earning-per-share guidance for the third quarter gave negative guidance, according to FactSet. In other words, looking at their third quarters, 77% expected lower EPS than they did at the same […]

Uber’s First Earnings Report Offered No Surprises for Wall Street

Three weeks after staging one of the biggest tech IPOs in years, Uber delivered its first-ever earnings report Thursday, with revenue growing 20% and a net loss of just over $1 billion. Both figures were in line with investor expectations. Uber said revenue advanced 20% to $3.01 billion in the first quarter of 2019, propelled […]

Pinterest Falls 19% on Its First Earnings Report, Previewing a Troubling Post-Tech IPO Trend

The bullish tech IPO market of early 2019 faced another setback Thursday as Pinterest, which has seen its stock price soar following its listing a month ago, delivered its first-ever earnings report. The numbers were largely below what investors were hoping for, causing the stock to fall as much as 19% in after-hours trading. Pinterest […]

Lyft’s First Earnings Report Shows 95% Revenue Growth—and a $1.1 Billion Net Loss

Lyft’s first earnings report since its high-profile IPO proved to be a mixed bag of good and bad news. Revenue growth in the quarter surpassed analyst estimates but the company’s net loss was significantly weighed down by stock-based compensation related to its March 29 offering. Lyft also announced it was partnering with Waymo, an Alphabet […]

When An Earnings “Make” Is Really A “Miss”

Talk about managing expectations. From the looks of it, corporate earnings surged in the first quarter. So far, 77 percent of the 229 companies that reported have posted better-than-expected earnings result, according to data by Refinitiv published today. Companies across industries-from Facebook Inc. to Starbucks Corp. to Amazon.com Inc.-posted results this week that beat estimates […]

LaCroix Maker Says Profits Hit by ‘Injustice’—Not Management Mistakes

When National Beverage, the maker of popular sparkling water brand LaCroix, on Thursday released its results for the quarter ending Jan. 26, 2019, investors were not happy. Net sales were down year-over-year, and net income plummeted by 39.6%, although the nine-month figures showed some improvement. But that didn’t satisfy the markets. National Beverage shares were […]

Kraft Heinz’s Stock Plummets 20% After Company Slashes Dividend, Discloses SEC Probe

The stock price of Kraft Heinz plunged 20% late Thursday after the food giant disclosed it received a subpoena from the Securities and Exchange Commission and reported a large net loss due to the reduction of goodwill in some of its best-known brands. Kraft Heinz also said in a conference call discussing earnings that it […]

Zillow Co-Founder Rich Barton Returns as CEO, Replacing Outgoing Chief Spencer Rascoff

Zillow’s stock fell as much as 8.6% late Thursday after the company announced that Spencer Rascoff, the company’s CEO since 2010, will step down. Rich Barton, who co-founded Zillow and previously served as CEO, will take over from Rascoff. The real-estate company also reported earnings Thursday, with revenue in the last three months of 2018 […]