News Stocks 

Consumers turning more pessimistic about wages, stocks, home prices, taxes

“Median one-year ahead earnings (wages) growth expectations fell from 2.7% in June to 2.4% in July, dropping below its 2.5%-2.7% range since November 2017, the New York Fed said” writes D C for marketwatch.com. The New York Fed’s survey of consumer expectations — based on a panel of 1,300 household heads across the United States — found declines in one-year expectations on earnings growth , household spending, stock prices and house prices.Median household spending growth expectations decreased by 0.1% to 3.2% in July, remaining slightly above its trailing 12-month average…

Read More
News Stocks 

Jefferies says buy Nvidia shares into earnings due its next graphics chips

“Nvidia’s sales will surge over the next year due to its next generation graphics products, according to Jefferies” writes Shannon Stapleton for cnbc.com. The firm reiterated its buy rating for Nvidia’s stock, predicting the chipmaker will report profits above expectations this year.Nvidia is slated to report its second-quarter earnings results on Thursday.”We think expectations are low given that they’ve guided to a drop in crypto revenue and lower [gross margins]. Source: cnbc.com Share This:

Read More
News Stocks 

Dropbox stock falls nearly 10% after earnings easily beat expectations

“Wall Street analysts had expected adjusted earnings of 6 cents a share, according to FactSet” writes Tech Reporter for marketwatch.com. In the company’s earnings release, Dropbox said it has moved its lock-up period expiration to the close of market on Aug. 23., due to the company’s quarterly blackout period.Dropbox went public earlier this year and priced its stock at $21, above the expected range.The company’s revenue grew to $339.2 million, 27% growth compared with the year-ago quarter and well ahead of the average analyst estimate of $331 million, according to…

Read More
Markets News Stocks 

Stocks cling to levels near records as investors weigh earnings, trade tensions

“Stock markets in the U.S. have remained relatively resilient despite trade tensions between Washington and Beijing running hot in the background” writes Markets Reporter for marketwatch.com. VSTO, +14.42% reported adjusted second-quarter earnings that missed expectations and sales that were below forecasts.VIAB, +6.46% reported third-quarter earnings that beat expectations, but sales were below forecasts.IAC IAC, +5.79% late Wednesday posted better-than-expected second-quarter earnings and sales, boosted by strong results at its recent spinoffs, including Match Group Inc.YELP, +27.65% late Wednesday reported better-than-expected earnings and raised its full-year profit outlook. Source: marketwatch.com Share This:

Read More
News 

China’s inflation rises above expectations in July

“The IMF said China’s headline inflation is expected to rise gradually to around 2.5 percent, while producer price inflation would moderate” writes unknown author for cnbc.com. Analysts polled by Reuters had expected July producer inflation would edge down to 4.4 percent.The food price index rose 0.5 percent from a year earlier, after ticking up 0.3 percent in June.China’s factory price inflation cooled in July but not as much as expected, amid a wider slowdown in economic growth as Beijing remains locked in a heated trade dispute with Washington.Economists expect the…

Read More
News Stocks 

CVS stock surges after earnings and sales beat expectations, boosted by prescription growth

“CVS, +2.60% rallied 1.8% in premarket trade Wednesday, after the drugstore chain beat second-quarter profit and sales expectations, boosted by an increase in prescription growth, and raised its outlook” writes Reporter Editor for marketwatch.com. Same-store sales increased 5.9% to top the FactSet consensus of 5.4% growth, as pharmacy sales rose 8.3% to beat expectations of a 6.6% rise while front-store sales fell 1% to miss expectations of a 2.15 rise.Excluding non-recurring items, such as a $3.9 billion goodwill impairment charge, adjusted earnings per share were $1.69, above the FactSet consensus…

Read More
News 

Home prices rise at the fastest pace in more than four years, defying expectations of a pullback

“Home prices continue to spiral higher, defying economic gravity and analyst predictions, and raising questions about how sustainable recent trends can be” writes Andrea Riquier for marketwatch.com. The group forecasts that national home prices will rise 5.1% in the coming 12 months, but it’s worth repeating that housing economists have been expecting prices to slow down for years.That’s the fastest annual rate since May 2014, and it marks the 14th-straight month in which prices have either stayed steady or increased. It’s possible CoreLogic’s data may start to show similar trends,…

Read More
News 

New York Times shares fall 5.3% despite beating Wall Street earnings expectations

“Shares of the New York Times Company NYT, -0.61% fell 5.3% in premarket trading Wednesday despite announcing second-quarter earnings that beat revenue and profit expectations” writes Sarah Toy for marketwatch.com. Digital advertising revenue decreased 7.5%, which the company attributed to a smaller audience and a decline in creative service revenues, while print advertising revenue decreased by 11.5%. Source: marketwatch.com Share This:

Read More
News Stocks 

Lumentum’s stock shoots up over 7% after earnings beat by wide margin

“Excluding non-recurring items, adjusted earnings per share came to 95 cents, beating the FactSet consensus of 65 cents” writes Reporter Editor for marketwatch.com. Lumentum expects first-quarter adjusted EPS of 90 cents to $1.10, compared with the FactSet consensus of 92 cents, and revenue of $340 million to $350 million, which is above expectations of $337.3 million.LITE, +3.12% shot up 7.3% in premarket trade Wednesday, after the maker of optical and photonic products reported fiscal fourth-quarter earnings that were well above expectations and provided an upbeat revenue outlook. Source: marketwatch.com Share This:

Read More
News 

Ahold reports second-quarter sales of $18 billion, in line with expectations

“Ahold Delhaize, the Dutch operator of grocery chains in the United States and Europe, on Wednesday reported sales and earnings that just met analyst expectations” writes Daniel Acker for cnbc.com. Second-quarter sales of 15.5 billion euros ($18.0 billion) were down from 16.1 billion euros in the same period a year earlier, while net profit rose to 410 million euros from 355 million euros. Analysts polled for Reuters had seen sales at 15.5 billion euros and profit at 414 million euros. Source: cnbc.com Share This:

Read More