Spotify, the popular music streaming service, recently had a rough day on the stock market. The company's shares dropped over 11%, marking their worst performance since July 2023. The main issue? They didn't meet the financial goals set by Wall Street analysts. Let's break it down. Spotify's revenue for the quarter was about 4. 19 billion euros. That's a 10% increas...
Best Buy has recently announced a change in its financial outlook for the year. This change is largely due to increased tariffs, which have raised the costs of many products the company sells. These tariffs are part of a broader trade policy that has been causing waves in the U. S. economy. The company now expects its revenue to be lower than previously thought. Inst...
The fashion world is buzzing with news from Abercrombie & Fitch. Despite a gloomy forecast due to tariffs, the company's shares skyrocketed. This unexpected reaction came after the retailer announced a significant drop in its profit outlook. Tariffs, particularly a 30% hit on imports from China and a 10% levy on goods from various other countries, are expected to cos...
Eli Lilly, a company based in Indianapolis, recently faced a blow when its stock prices dipped. The reason? Their weight-loss drugs, Zepbound and Mounjaro, didn't sell as well as expected. The company predicted they'd make about $13. 5 billion in the December quarter, which is less than what experts thought. Specifically, Mounjaro made $3. 5 billion, and Zepbound mad...
Pfizer, one of the world's largest pharmaceutical companies, surprised many analysts with its third-quarter earnings. The company reported earnings of $1. 06 per share, well above the expected $0. 61. Sales also exceeded expectations, coming in at $17. 7 billion compared to the projected $14. 92 billion. Last year, during the same period, Pfizer recorded a loss of $...
General Motors (GM) held an investor day, but Wall Street seemed unimpressed. GM highlighted plans to boost profits for both electric and traditional vehicles. While GM believes it's ahead in the EV race, investors are waiting for more details. GM's CEO, Mary Barra, focused on efficiency and cost discipline. President Mark Reuss took jabs at competitors Ford and Stel...
Cognizant Technology Solutions (NASDAQ:CTSH) has recently announced an update to its earnings guidance, reflecting the impact of its acquisition of Belcan, an engineering research and development services provider. The acquisition, which was completed for approximately $1.3B in cash and stock, has resulted in an increase in Q3 revenue, with expectations now ranging ...