Stock News

Nestle earnings report missed estimates

Nestle cut its revenue target for 2013, after disappointing sales in Europe led the Swiss group to miss analysts’ expectations for the fourth consecutive quarter. The world’s largest food company by revenues said that in the six months to the end of June, sales added 5.3% to 45.2 billion Swiss francs ($49.1 billion). Analysts had […] Read more

US stock index futures soared awaiting US jobless claims data

U.S. stock-index futures advanced, indicating the Standard & Poor’s 500 Index will raise from three days of losses, after China’s exports and imports increased more than estimated in July as investors also focused on upcoming job data. Futures on the S&P 500 expiring in September climbed 0.4% to 1,694.8 at 8:00 a.m. in New York. […] Read more

Adidas cuts forecasts as sales slowed in Europe

Adidas AG cut its 2013 forecasts because of declining sales in Europe and unfavorable currency impacts after reporting second-quarter profit that trailed analysts’ estimates. Adidas said full-year schedule will now be more challenging to meet. The Herzogenaurach, Germany-based sporting-goods maker expects full-year sales to rise by a “low- to mid-single-digit rate on a currency-neutral basis” […] Read more

Tesla beat estimates as shares jump 14%

Shares in Tesla Motors, the electric car-maker, hit another fresh high in after-hours trading on Wednesday, despite a quarterly retreat in revenues, as sales of its Model S beat expectations and deliveries began in Europe. Shares of Tesla jumped 14% to $153.20 in trading after it reported results. Year to date, the stock has soared […] Read more

US stock indexes retreat amid fear of Fed reducing stimulus

U.S. stocks declined, giving the Standard & Poor’s 500 Index a three day of decline, amid growing speculation the Federal Reserve will pare bond purchases this year as the economy strengthens. The S&P 500 slid 0.4% to 1,690.91 at 4 p.m. in New York. The benchmark gauge has fallen 1.1% this week after closing at […] Read more

Ad revenues boost Time Warner earnings

The company which owns the TNT, CNN and HBO cable channels, reported second-quarter profit that topped analysts’ estimates. Time Warner reported a 25% earnings jump thanks to strong performance from its movie unit and ad sales tied to sports programming. Excluding some items, earnings were 83 cents a share in the period, surpassing the 76 […] Read more

US stock-index futures decline amid stimulus tapering talk

U.S. stock-index futures retreated, indicating the Standard & Poor’s 500 Index will fall for a third day, amid investor speculation the Federal Reserve will pare bond purchases as the economy strengthens. Futures on the S&P 500 expiring in September slid 0.4 percent to 1,687.7 at 11:58 p.m. in London. The index sank the most in […] Read more

Walmart considers Hong Kong supermarket business

American multinational retailer Wal-Mart is reported to be considering buying the ParknShop supermarket chain. The business is being sold by Hutchison Whampoa, which is controlled by billionaire tycoon Li Ka-shing. Lis Hutchison Whampoa Ltd conglomerate has set an August 16 deadline for initial bids for ParknShop, which it values at as much as $4 billion, […] Read more

Disney’s revenue beats estimates despite Lone Ranger’s failure

Walt Disney is heading for a write-down of up to $190 million over the poor performance of its summer release The Lone Ranger. Marketing costs for the film hit quarterly profits at the company, although higher advertising fees at its ESPN cable network helped lift earnings above analyst expectations. However, revenues for the three months […] Read more

US stocks fell amid stimulus tapering concerns, trade balance data

U.S. stocks retreated for a second day in a row, giving the Standard & Poor’s 500 Index its biggest decline since June 24, as trade data fueled concern the Federal Reserve may reduce its bond purchases this year. The S&P 500 lost 0.6% to 1,697.37 at 4 p.m. in New York, extending yesterday’s loss after […] Read more