Author: pluginever

CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. Shares of the company dropped 10% in premarket trading. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a…

The Federal Reserve today announced that it will be reducing the amount of quantitative tightening in June. My question is, isn't this counterproductive to the Fed's goal of lowering inflation? I could be wrong but I was under the impression that the Fed would be looking to lower M2 money supply in order to bring…

Amazon CEO Andy Jassy violated federal labor law in comments he made to media outlets about unionization efforts at the company, a National Labor Relations Board judge ruled Wednesday. NLRB Administrative Law Judge Brian Gee cited interviews Jassy gave in 2022 to CNBC’s “Squawk Box,” Bloomberg Television and at The New York Times’ DealBook conference.…

Qualcomm reported second-quarter earnings on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter. Shares rose about 4% in extended trading. Here’s how it did versus LSEG consensus estimates for the quarter ended March 24: Earnings per share: $2.44 adjusted vs. $2.32 expected Revenue: $9.39 billion adjusted vs. $9.34…

Asset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia’s Public Investment Fund (PIF), the kingdom’s sovereign wealth fund. The announcement Tuesday followed the signing of a memorandum of understanding between BlackRock’s Saudi division and the PIF with the aim of spurring capital…

Carvana (NYSE:CVNA): Q1 Record Q1 Net Income of $49 million and Net Income margin of 1.6% Revenue of $3.06B (+17.2% Y/Y) beats by $370M. In Q1 2024, Carvana sold 91,878 retail units (+16% YoY) Looking toward the second quarter of 2024, Carvana expects the following as long as the environment remains stable: A sequential increase…

sbux missed earnings. Now trading at “only 21x earnings”. I think it was overvalued before and is even more overvalued after the earnings miss and subsequent stock drop. The stock is no longer a growth name. Therefore, the multiple deserves to contract. I think it has no levers left to pull at this time other…

The near zero rates we saw during the previous decade were an emergency measure put in place after the 2008 GFC. Historically interest rates have been an average of 5-6% with inflation being 3.30% on average. So why do so many people keep expecting the fed to slash interest rates back to absurdly low levels…

https://www.federalreserve.gov/monetarypolicy/files/monetary20240501a1.pdf FOMC meeting summary for May 1 announced As summarized by AI: Economic activity is expanding at a solid pace. Job gains remain strong, and unemployment is low. Inflation has eased but remains elevated, with no recent progress toward the 2 percent goal. The Committee aims for maximum employment and 2 percent inflation over the…

Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations as Pizza Hut and KFC struggled to attract customers. Shares of the company fell 3% in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $1.15…