Gloomy outlook dulls PayPal’s quarterly profit beat
Shares of PayPal Holdings Inc(PYPL.O) fell 8% on the payment company’s downbeat current-quarter profit outlook that outweighed a better-than-expected profit in the second quarter from a pandemic-driven shift to digital spending.
Microsoft sees steady cloud growth after record quarterly profit
Microsoft Corp (MSFT.O) posted its most profitable quarter on Tuesday, beating Wall Street expectations for revenue and earnings, as PC sales declines stemming from a global chip shortage were more than made up for by a boom in cloud services.
Visa gets vaccine boost as domestic spending back near pre-COVID levels
Visa Inc (V.N) beat estimates for quarterly profit on Tuesday, with domestic spending almost back to pre-pandemic levels and international travel on the road to recovery as rising vaccinations and reopening economies take effect.
Mattel expects strong holiday season as Barbie demand swells
Mattel Inc (MAT.O) raised its full-year sales forecast on Tuesday, expecting sustained robust demand for its Barbie and Hot Wheels brands into the holiday season despite upcoming price hikes.
UPS shares hit three-month low on worries e-commerce is cooling
United Parcel Service Inc (UPS.N) shares fell to a three-month low on Tuesday on worries that growth from the pandemic-fueled e-commerce boom may be fading.
LVMH shares edge higher as sales and profits rise
LVMH’s (LVMH.PA) shares eged higher on Tuesday after the world’s biggest luxury goods group posted higher sales and profits, driven by surging sales of fashion lines and handbags by Dior, Fendi and Louis Vuitton.
S&P 500 edges up as investors eye key earnings, Fed meeting
The S&P 500 edged higher and eked out another record closing high on Monday, bolstered by optimism over earnings with heavyweight technology names reporting this week, while caution ahead of a policy meeting by the Federal Reserve kept the market in check.
Lockheed second quarter profit misses even as space business boosts sales
U.S. weapons maker Lockheed Martin Corp (LMT.N) said on Monday its space business boosted revenues in the latest quarter, but a classified aeronautics development program caused the company to miss analysts’ profit estimate.
Futures fall as regulatory woes hammer Chinese stocks
U.S. stock index futures pulled back from record highs on Monday as locally listed Chinese firms tumbled on tighter regulations in the mainland, souring sentiment at the start of a week packed with tech earnings.
Moderna dominates Wall St trading ahead of S&P 500 debut
Moderna’s (MRNA.O) stock dropped 2% in a volatile session on Tuesday, with the COVID-19 vaccine maker the most heavily traded company on Wall Street ahead of its debut in the S&P 500 on Wednesday.
