By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said Thursday inflation pressures have been easing but still have yet to return to where they need to be. “We have made good progress but inflation is still running above the [Federal Open Market Committee’s] 2% objective,” Hammack said …
Fed’s Hammack: Work to bring inflation to target not complete Read More »
(Reuters) -IBM shares fell more than 6% on Thursday, as reduced enterprise spending on non-GenAI projects pressured its consulting segment, clouding software unit strength. If losses hold, its $214 billion market valuation could drop by over $13 billion. An uncertain economic outlook pushed IBM’s customers to reduce discretionary spending and prioritize GenAI projects, impacting growth …
IBM falls as slowing enterprise spending pressure consulting growth Read More »
By Pritam Biswas and Laura Matthews (Reuters) -Nasdaq reported a rise in third-quarter profit on Thursday, helped by strong demand in its solutions business that houses the exchange operator’s financial technology products. Revenue from the company’s financial technology business climbed nearly 56% in the third quarter, while its solutions business revenue rose 31% to $906 …
Nasdaq’s third-quarter profit rises on fintech strength Read More »
By Pratyush Thakur, Mike Stone (Reuters) -U.S. defense company Northrop Grumman on Thursday raised its 2024 profit forecast for the second time amid increased global defense spending prompted by conflicts in the Middle East and the protracted Russia-Ukraine war. The company’s shares were up 1% during pre-market trading. Geopolitical tensions have benefited arms manufacturers such …
Northrop Grumman lifts 2024 profit forecast again as global defense spending climbs Read More »
(Reuters) -Laboratory operator Labcorp beat Wall Street estimates for third-quarter profit and revenue on Thursday as strong demand for diagnostic tests offset a hit from hurricane-led disruptions. Diagnostic checkups have risen in recent quarters as more people, especially older adults, caught up on surgeries deferred during the pandemic. Still, Labcorp, cut the top-end of its …
Labcorp’s quarterly results beat on diagnostic tests demand Read More »
(Reuters) -U.S. railroad operator Union Pacific missed Wall Street estimates for quarterly revenue and profit on Thursday, as an unfavorable business mix and reduced fuel surcharge revenue offset gains from higher shipments and price hikes. The Omaha-Nebraska based company’s shares were down more than 3% before the bell. The company continues to face headwinds from …
Union Pacific misses quarterly profit estimates despite price hikes, shares fall Read More »
(Reuters) – Financial information company S&P Global raised its annual profit forecast on Thursday and beat Wall Street estimates for third-quarter profit on strong demand for its data and analytics products. WHY IT’S IMPORTANT Expectations of further interest-rate cuts kept investors confident in the health of the U.S. economy and boosted demand for market-related analytical …
S&P Global lifts annual profit forecast on demand for analytics products Read More »
(Reuters) -Refiner Valero Energy posted an 86% slump in third-quarter profit on Thursday on falling refining margins, but it managed to beat Wall Street expectations. Globally, refiners have seen a drop in their profitability on soft consumer and industrial demand, especially in China. U.S. refinery margins, measured by the 3-2-1 crack spread, dipped to $14.28 …
Valero Energy quarterly profit plunges on weak refining margins Read More »
SAO PAULO (Reuters) – Inflation in Brazil accelerated in the month to mid-October, as higher electricity costs pushed consumer prices up in Latin America’s largest economy. Prices as measured by the IPCA-15 index rose 0.54% in the month to mid-October, up from 0.13% in the previous month, government statistics agency IBGE said on Thursday. Economists …
Brazil inflation picks up in mid-October with higher electricity costs Read More »
(Reuters) – Cessna jet maker Textron lowered its annual profit forecast on Thursday, citing impact of the four-week strike by 5,000 workers at its Wichita plant. The company now expects its 2024 adjusted profit per share to be between $5.40 and $5.60, down from its previous forecast of $6.20 to $6.40. “The labor disruption adversely …
Textron lowers annual profit forecast on impact from Wichita strike Read More »
