Arista Networks outpaced Q1 earnings and revenue expectations and announced a new $1.2 billion stock buyback. Shares rose 7% in extended trading as the company provided guidance slightly above Wall Street forecasts.
Toyota Motor Corp. reported a significant rise in annual profits and robust vehicle sales but projected a 28% drop in profit for the upcoming fiscal year, attributing the forecast to increased investments in technology and human capital.
Virgin Galactic reports a significant reduction in net losses and a boost in revenues in Q1 2024, surpassing revenue estimates with a robust cash position, despite ongoing heavy investments in technology and infrastructure.
Disney's stock is poised for its worst day in a year, dropping 7.6% in premarket trading following disappointing earnings results. This decline threatens to break a three-quarter post-earnings winning streak.
Rivian and Apple are reportedly discussing a partnership that could integrate Apple's technology into Rivian's R2 and R3 vehicles. This collaboration may leverage Apple's developments from its Project Titan, enhancing Rivian's autonomous driving features.
Sony Group Corp. shares fell by 4.2% following its announcement of a joint $26 billion bid for Paramount Global with Apollo Global Management, sparking investor worries about financial strain and regulatory hurdles.
At the annual Berkshire Hathaway shareholders meeting, CEO Warren Buffett expressed deep concerns about the dual nature of artificial intelligence, highlighting its potential to significantly enhance scams and comparing its implications to nuclear technology.
Steward Health Care System, the largest physician-owned hospital operator in the U.S., has filed for chapter 11 bankruptcy due to escalating financial difficulties, securing a $300 million bankruptcy loan to maintain operations across its 30 hospitals.
Coca-Cola is on the verge of surpassing its revenue levels from a decade ago, as efforts by CEO James Quincey to streamline operations and focus on core brands are set to culminate in a significant financial milestone in the second quarter of 2024.
April saw fewer U.S. jobs added than expected at 175,000, with unemployment slightly up at 3.9%. Wage growth also slowed, impacting Fed rate cut timings.
Dow futures surged, buoyed by Apple's earnings surprise and a massive stock buyback. All eyes are now on the upcoming jobs report, set to shape Fed rate moves.
Thursday, May 2: Jerome Powell's reassurances foster market optimism, spurring gains in stocks and a rebound in oil prices amid a stable economic outlook.
Today, a range of leading corporations across various sectors unveiled their latest quarterly earnings, offering fresh insights into their financial health and potential market directions.
Tesla (NASDAQ: TSLA) CEO Elon Musk fires senior execs and plans sweeping layoffs, aiming to tighten operations amidst a sales dip and ongoing price wars.
Google's parent Alphabet (NASDAQ: GOOGL) not only exceeded Wall Street's earnings estimates but also declared its first-ever dividend, signaling a new shareholder-friendly era.
Microsoft (NASDAQ: MSFT) surpasses Q3 expectations with a 26% revenue increase in its cloud sector, highlighting a robust growth trajectory, despite broader market uncertainties.
Southwest Airlines cuts its forecast for Boeing aircraft deliveries in 2024, planning for 20 jets instead of 46. The reduction, a response to manufacturing delays and regulatory scrutiny at Boeing, prompts cost-cutting measures including reduced hiring and voluntary time off programs.
Despite a decline in profits, Tesla's stock rallied 10% in after-hours trading as CEO Elon Musk discussed upcoming innovations, including a robotaxi rollout and more affordable EV models, overshadowing the earnings miss.
