Latest Earnings reports News

Portuguese government raises its stake in national airline

Jul. 2, 2020 5:42 PM EDT

LISBON, Portugal (AP) — The Portuguese government announced Thursday it is increasing its stake in TAP Air Portugal from 50% to 72.5% after prolonged negotiations with the airline’s minority private shareholders on how to save the money-losing company. “The state will now play a key role in...

FILE - In this Nov. 29, 2019, file photo a shopper leaves Macy's department store with bags in both hands during Black Friday shopping in New York. Macy’s is refashioning what the Black Friday sales bonanza will look like in a pandemic. The company's CEO Jeff Gennette told analysts Wednesday, July 1, 2020, said that the department store chain will be pivoting its Black Friday business more toward online and will likely be going “full force” with marketing right after Halloween.  (AP Photo/Bebeto Matthews, File)

Macy's rethinks Black Friday bonanza in era of pandemic

Jul. 1, 2020 11:37 AM EDT

NEW YORK (AP) — Macy's is refashioning what the Black Friday sales bonanza events will look like in a pandemic. Macy's CEO Jeff Gennette told analysts Wednesday said that the department store will be pivoting its Black Friday business more toward online and will likely be going “full force" with...

FILE - This April 1, 2020 file photo shows a FedEx logo at a facility in Romulus, Mich. FedEx Corp. flipped to a $334 million loss in its fiscal fourth quarter, but its revenue and adjusted profit beat Wall Street expectations as the virus pandemic continues to fuel a boom in online shopping. (AP Photo/Paul Sancya)

FedEx reports a loss, but revenue tops Street expectations

Jun. 30, 2020 8:01 PM EDT

FedEx Corp. flipped to a $334 million loss in its fiscal fourth quarter, but its revenue and adjusted profit beat Wall Street expectations as the virus pandemic continues to fuel a boom in online shopping. FedEx's stock rose more than 9% in after-market trading following the results report. With many U.S....

Musk tells Tesla employees breaking even in 2Q will be tight

Jun. 29, 2020 6:39 PM EDT

PALO ALTO, Calif. (AP) — With one day left before the second quarter closes, Tesla CEO Elon Musk is telling employees that prospects for the company breaking even for the three-month period are tight, and he's asking them to go all-out to make it happen. Tesla is trying to avoid a quarterly loss despite...

Nike, JPMorgan fall; Gap, CoreLogic rise

Jun. 26, 2020 4:24 PM EDT

Stocks that moved heavily or traded substantially on Friday: Nike Inc., down $7.73 to $93.67. The sneaker and apparel company reported a fiscal fourth-quarter loss as the pandemic shut down stores. Amazon.com Inc., down $61.71 to $2,692.87. The online retailer is buying self-driving technology company Zoox....

KB Home, Walt Disney fall; Rite Aid, Accenture rise

Jun. 25, 2020 4:14 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Thursday: Rite Aid Corp., up $3.42 to $16.29. The drugstore chain reported a surge in first-quarter revenue and beat Wall Street's financial forecasts. Accenture Plc., up $15.48 to $217.32. The consulting company's third-quarter revenue...

This Week: New home sales, Nike earns, consumer spending

Jun. 22, 2020 9:54 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department issues its May tally of new U.S. home sales Tuesday. Sales slowed in March as businesses closed in an effort to contain the coronavirus outbreak, but they picked up again in...

Spotify, ABM rise; Hertz, Designer Brands fall

Jun. 18, 2020 4:23 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Thursday: T-Mobile US Inc., up $3.76 to $106.39. The wireless carrier named a new chief financial officer and said it will complete its sale of Boost Mobile on July 1. Spotify Technology S.A., up $25.45 to $225.28. The digital music...

American Airlines, Perspecta rise; PVH, Lululemon fall

Jun. 12, 2020 4:22 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Friday: Adobe Inc., up $18.87 to $406.54 The software maker reported strong digital media revenue growth and beat Wall Street's fiscal second-quarter profit forecasts. PVH Corp., down $3.11 to $49.61 The owner of Calvin Klein and Tommy...

FILE - In this May 21, 2020 file photo, patrons to a Starbucks in the Chicago neighborhood of Hyde Park walk past stacked chairs and tables.  Starbucks says that the COVID-19 pandemic caused an approximately $3 billion to $3.2 billion decline in its third-quarter consolidated revenue. The coffee chain said Wednesday, June 10,  that the virus outbreak also lowered operating income by about $2 billion to $2.2. billion. (AP Photo/Charles Rex Arbogast)

Starbucks takes $3 billion hit to revenue during pandemic

Jun. 10, 2020 12:49 PM EDT

Starbucks expects to lose more than $3 billion in revenue in its fiscal third quarter due to the new coronavirus, but said the disruption to its business should subside through the rest of the year. “The Starbucks brand is resilient, customer affinity is strong and we believe the most difficult period is...