Hotel giant Marriott International (NASDAQ:MAR) has recently increased its annual adjusted profit forecast following a mixed performance in the first quarter. Despite weakening trends in North America, Marriott is relying on the surge in international travel demand to drive its full-year profit. The company anticipates a significant boost in revenue per available room (RevPAR) from
2024
Bond investors are beginning to show a selective interest in adding longer-dated maturities to their portfolios. This shift in strategy is driven by the belief that the Federal Reserve will choose to delay cutting interest rates and reduce them at a slower pace compared to previous easing cycles. The decision to keep rates unchanged at
Australia’s major banks are anticipated to report weaker first-half profits as operating costs remain high and competition for mortgage and deposit sales intensifies. This has led to a reduction in margins, putting a strain on overall profitability. Although historically, rising interest rates have been beneficial for the Big Four banks, the current scenario has forced
Amazon.com recently reported quarterly results that surpassed Wall Street’s expectations. The company’s focus on artificial intelligence has been a significant factor in driving growth in its cloud-computing division. Despite the impressive performance, Amazon’s current-quarter revenue forecast fell short of expectations, causing a slight dip in the stock price during the regular session. Chief Financial Officer
The Federal Trade Commission has taken a bold step in challenging hundreds of alleged “junk” patents held by pharmaceutical companies for 20 brand-name drugs. These companies, including Novo Nordisk, AstraZeneca, Boehringer Ingelheim, and others, have been warned about improperly listed drug patents, particularly for medications related to Type 2 diabetes, asthma, and COPD. The practice
Amazon recently reported its first-quarter earnings, surpassing expectations with both its earnings per share and revenue figures. The company’s revenue of $143.3 billion exceeded the forecasted $142.5 billion, while its earnings per share of 98 cents outperformed the expected 83 cents. The stock market reacted positively to the news, with Amazon’s stock price rising during
Eli Lilly recently announced a significant increase in its annual sales forecast due to explosive demand and increased manufacturing capacity for its weight-loss drug Zepbound. This development has driven the company’s shares to rise nearly 6% in value. The company expects to see substantial production increases in the second half of the year for its
After a prolonged period of dormancy, the Initial Public Offering (IPO) market seems to be making a comeback. Colin Stewart, Morgan Stanley’s global head of technology equity capital markets, expressed optimism about the resurgence of tech companies going public. Stewart predicts that 10 to 15 more tech firms could launch IPOs by the end of
The tech industry has been hit hard by mass layoffs, with over 263,000 job losses recorded in 2023 and more than 75,000 job losses in 2024 so far. Despite blockbuster earnings from companies like Alphabet and Microsoft, the focus has shifted from growth to profitability, leading to a wave of job cuts. Jeff Shulman, a
In the midst of earnings season, investors are looking closely at top analysts’ picks for long-term prospects. Netflix (NFLX) takes the spotlight this week with its better-than-expected results for the first quarter of 2024. Despite the disappointment stemming from the company’s decision to halt reporting quarterly subscriber numbers, BMO Capital analyst Brian Pitz remains bullish
Recently, Thai former energy executive Pichai Chunhavajira has been appointed as the country’s finance minister, tasked with the responsibility of revitalizing Southeast Asia’s second-largest economy. This decision comes at a crucial time for Thailand, as the economy has been facing numerous challenges, including high household debt, rising borrowing costs, and the impact of China’s economic
Royal Caribbean (NYSE:RCL) experienced a significant surge of 4.8% in its stock following the announcement of their first-quarter earnings, which managed to exceed analyst expectations by quite a margin. The cruise operator reported a higher adjusted EPS of $1.77 compared to the consensus estimate of $1.32. This positive outcome was also reflected in the revenue
SK Hynix, a prominent South Korean memory chipmaker, has reported a remarkable turnaround in its financial performance in the first quarter of the year. With a net profit of 1.92 trillion South Korean won ($1.39 billion), the company has managed to reverse the loss of 2.58 trillion won that was incurred in the same period
PepsiCo recently reported its quarterly earnings and revenue, exceeding analysts’ expectations. However, the company faced challenges due to weaker U.S. demand caused by various factors such as Quaker Oats recalls and backlash to higher prices for its products. Despite the overall positive results, PepsiCo experienced a drop in its share price, reflecting investor concerns. Let’s