Text size Tesla is trying to increase demand by lowering prices for its electric vehicles. Joe Raedle/Getty Images Tesla started the new year with a bang, cutting prices for its vehicles around the world. Now Wall Street is making its own cuts, to 2023 earnings estimates. Analysts seem to agree lower prices means lower profits. … Read more
Oracle shares were moving higher late Monday after the company posted better-than-expected financial results for its latest quarter. The enterprise software giant continued to see success in shifting more of its business to the cloud during the period. “Simply put, we had an outstanding quarter,” Oracle CEO Safra Catz said on a call with analysts. … Read more
Shares of DaVita were on pace for their largest drop in more than two decades after the dialysis giant missed earnings expectations and lowered its profit outlook. The company said the third quarter was challenging. Continued pressure from the labor market and the pandemic “impacted our financial performance more than expected,” said CEO Javier Rodriguez.
Ericsson stock tumbled more than 14% early Thursday after the Swedish telecom giant’s earnings missed expectations in the third quarter. The telecom equipment maker reported adjusted earnings per share of 1.56 Swedish crowns (14 cents), 10% lower than the year-ago period and below the analyst consensus of 1.77 Swedish crowns, according to FactSet.
Ahead of that, stock futures are falling after Ford warned on high supply costs, on the heels of FedEx’s FDX, +1.17% profit caution last week. The dollar and cash have been among the most popular havens for investors as they navigate recession risks with higher rates and higher inflation, alongside a brutal war in Europe. … Read more
Ford Motor Co. shares dropped more than 4% in the extended session Monday after the company said inflation and parts shortages will leave it with more unfinished vehicles than it had expected, reminding Wall Street supply-chain snags are far from over for auto makers. Ford F, +1.43% said it expects to have between 40,000 and … Read more
Hewlett Packard Enterprise Co.’s profit and revenue grew last quarter, and executives on Tuesday predicted more earnings growth to round out the fiscal year. HPE HPE, -0.51% reported fiscal third-quarter earnings of $409 million, or 31 cents a share, on revenue of $7 billion, up from $6.9 billion a year ago. After adjusting for stock-based … Read more
Text size Splunk said 723 customers are generating more than $1 million in annualized revenue. Dreamstime Splunk posted better-than-expected results for its fiscal second quarter ended July 31, while boosting its revenue outlook for the January 2023 fiscal year. But the stock is trading sharply lower on a slowdown in the company’s new business pipeline. … Read more
Cisco Systems Inc. shares rose in extended trading Wednesday after the networking company forecast stronger-than-expected revenue growth in the months ahead, quelling fears of a slowdown in businesses’ technology spending. Cisco CSCO, -0.24% reported net income of $3.4 billion, or 68 cents a share, while revenue was flat from the year before at $13.1 billion. … Read more