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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
Novavax Inc. executives slashed their annual sales guidance in half Monday while wildly missing financial expectations, sending shares down more than 30% in after-hours trading. Novavax NVAX, -5.01% now projects total 2022 revenue of $2 billion to $2.3 billion, after previously stating a goal of $4 billion to $5 billion. The U.S. Food and Drug … Read more
Text size Berkshire Hathaway CEO Warren Buffett added slightly to stakes in Apple and Chevron. Andrew Harrer/Bloomberg Berkshire Hathaway ’s operating profits rose 39% in the second quarter, topping estimates, on strength in the company’s insurance and railroad businesses as well as sharply higher investment income. The company continued to moderate its pace of share … Read more
Cloudflare Inc. shares surged in the extended session Thursday after the cybersecurity company reported results that topped Wall Street expectations and hiked its revenue outlook for the year. Cloudflare NET, +0.12% shares rallied about 21% after hours, following a 0.1% advance in the regular session to close at $58.43. The company reported a second-quarter loss … Read more
Text size Consumer staples like Coke have held up better than the broader market this year. Scott Olson/Getty Images While the rest of the market has fizzled, Coke has had a great year. The company’s second-quarter earnings topped expectations, while its guidance raise bolstered investor confidence that the beverage giant could be well-poised to navigate … Read more
IBM has restructured to focus on software and services tied to hybrid cloud computing and artificial intelligence. David Paul Morris/Bloomberg Text size IBM kicked off tech earnings season with better-than-expected quarterly results, despite headwinds from the strong dollar. For the second quarter, IBM (ticker: IBM) posted revenue of $15.5 billion, up 9% from a year … Read more