Military shipbuilder Huntington beats Q1 estimates on demand for aircraft carriers
(Reuters) - Huntington Ingalls reported a better-than-expected quarterly earnings on Thursday, on the back of demand for aircraft carriers, amphibious assault ships and submarines amid high geopolitical tension. WHY IT IS IMPORTANT Demand for subma...
22m ago
Moody's tops quarterly profit estimates on strong product demand
(Reuters) - Moody's on Thursday beat Wall Street estimates for first-quarter profit, helped by demand for its research and analytics products. The New York-based company recorded robust sales of its products including CreditView. WHY IT'S IMPORTANT...
23m ago
Greenback strength to persist on delayed Fed rate cut calls
By Sarupya Ganguly BENGALURU (Reuters) - A rallying U.S. dollar will stand resolute and may even trade more strongly than predicted in coming months if the policies of the Federal Reserve and other major central banks diverge, according to FX strat...
24m ago
Howmet Aerospace lifts dividend, annual forecasts on robust parts demand
(Reuters) - Howmet Aerospace on Thursday raised its full-year profit and revenue forecasts and said it would raise its quarterly dividend by two cents per share thanks to robust demand for its engine products and fastening systems. Shares of the Pe...
24m ago
US weekly jobless claims unchanged; layoffs decline in April
WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits held steady at lower levels last week as the labor market remains fairly tight. Initial claims for state unemployment benefits were unchanged at a seasonally...
25m ago
Rising Swiss inflation will not derail rate cuts, economists say
ZURICH (Reuters) - Swiss annual inflation in April accelerated faster than expected, data from the Federal Statistics Office showed on Thursday, although economists said they still expected the Swiss National Bank to make further interest rate cuts...
38m ago
OPEC+ could extend oil cuts, formal talks yet to start, sources say
By Alex Lawler and Olesya Astakhova LONDON/MOSCOW (Reuters) - OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but three sources from OPEC+ producers said they cou...
40m ago
ConocoPhillips misses quarterly profit estimates
(Reuters) - U.S. oil and gas producer ConocoPhillips missed Wall Street estimates for first-quarter profit on Thursday, as demand concerns led to a sharp fall in natural gas prices. The Houston, Texas-based company posted adjusted earnings of $2.03...
41m ago
Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs
(Reuters) -Peloton CEO Barry McCarthy has stepped down, the company said on Thursday as it decided to cut 15% of its workforce to tackle a post-pandemic slump in demand for its connected fitness equipment. Shares of the beleaguered New York-based compa...
43m ago
BorgWarner raises full-year 2024 adjusted profit outlook
(Reuters) - Auto parts supplier BorgWarner raised its full-year adjusted profit outlook on Thursday, aided by sustained demand from its exhausts, turbos and emission control systems. BorgWarner, which supplies parts to Ford Motor and Volkswagen, de...
44m ago
Nigeria court adjourns Binance and execs trial to May 17
By Camillus Eboh ABUJA (Reuters) - A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the exchange said he had not been served with document...
47m ago
Qualcomm jumps as AI sparks rebound in Chinese smartphone market
(Reuters) - Qualcomm shares rose 4% in premarket trading on Thursday after the smartphone-focused chipmaker signaled an AI-fueled rebound in demand, especially in China, after a two-year slump. Sales to Chinese smartphone makers jumped 40% in the f...
50m ago
Futures climb as Fed allays rate-hike worries
(Reuters) - U.S. stock index futures advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and allayed fears around potential rate hikes, with focus moving to a spate of earnings updates through the day. While Fed chai...
2h ago
Insurer Chubb prepares to pay $350 million in Baltimore bridge collapse, WSJ reports
(Reuters) - Chubb, the insurer of Baltimore's Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday. The payment is expected to be authori...
2h ago
Lloyd's insurers expect moderate Baltimore bridge claims
LONDON (Reuters) - Lloyd's of London insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore's Francis Scott Key Bridge in March that caused widespread disruption, they said on Thursday. Some estimates for...
2h ago
Stanley Black and Decker's profit beats on strong industrial tool demand
(Reuters) - Stanley Black and Decker beat analysts' expectations for first-quarter profit on Thursday, as strong residential construction activity in the United States aided demand for its industrial tools and products. A tight supply of existing h...
2h ago
Moderna quarterly sales beat expectations but plummet from previous year
By Patrick Wingrove (Reuters) - Moderna on Thursday reported quarterly revenue that beat Wall Street estimates but came in dramatically lower than the previous year when demand for COVID-19 vaccines was higher. Sales of Moderna's COVID-19 shot Spi...
2h ago
Apollo's Q1 earnings jump 26% on management fees, annuities inflow
By Chibuike Oguh NEW YORK (Reuters) - Apollo Global Management said on Thursday its first-quarter adjusted net income rose 26% year-on-year, driven mostly by growth in management fees as well as earnings from its flagship annuities business. Adjust...
2h ago
Thomson Reuters raises annual financial forecast
Thomson Reuters beat revenue expectations and raised its annual financial forecast on Thursday as it continued to invest heavily in artificial intelligence. The Toronto-based news and information provider reported first quarter revenue up 8% to $1.88 b...
2h ago
Regeneron misses profit estimates on weaker Eylea and Dupixent sales
(Reuters) -U.S. drugmaker Regeneron Pharmaceuticals Inc missed Wall Street estimates for first-quarter profit on Thursday due to softer sales of its blockbuster eye drug Eylea and its eczema treatment, Dupixent. Excluding items, the company reported a ...
2h ago
Wind farm developer Orsted confident about strategy after Q1 profit rises
By Louise Rasmussen COPENHAGEN (Reuters) - Orsted, the world's biggest offshore wind farm developer, reported on Thursday a rise in first-quarter operating profit thanks to higher earnings from its offshore wind farms, and confirmed its full-year ...
2h ago
Google faces closing arguments in US market power trial
WASHINGTON (Reuters) - The U.S. government will layout its antitrust case against Alphabet's Google in closing arguments on Thursday, wrapping up a trial in which the online search leader is accused of breaking the law to stay on top. The U.S. gove...
2h ago
Morning Bid: Fed QT taper calms the horses, yen pops again
A look at the day ahead in U.S. and global markets from Mike Dolan Anxious bond traders seem to have taken solace from the Federal Reserve's surprisingly sharp brake on its "quantitative tightening" process on Wednesday, while the yen capitalized on an...
2h ago
Cigna sees strong annual profit on lower costs, pharmacy benefit strength
(Reuters) - Health insurer Cigna Group raised its annual profit forecast on Thursday, as lower-than-expected medical costs and strength in its pharmacy benefit management unit helped it beat first-quarter earnings estimates. The company now expects...
2h ago
Air Canada reports smaller adjusted loss on business travel rebound
(Reuters) - Air Canada reported a smaller first-quarter adjusted loss on Thursday, as Canada's largest carrier benefited from a rebound in bookings for business travel. Major North American carriers are cashing in on a resurgence in big spending by...
2h ago