Markets
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Lululemon stock jumps on sales forecast, as China’s reopening helps results
Lululemon Athletica Inc. shares jumped after hours on Thursday after the yoga-wear maker and retailer forecast full-year sales and profit that were above expectations, after strong gains in China’s reopened economy helped propel first-quarter results. The company said it expected full-year sales of $9.44 billion to $9.51 billion, above FactSet estimates for $9.37 billion. Executives said they…
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Zscaler results, outlook top Street view, but shares dip amid tough cloud-software environment
Zscaler Inc. shares declined in the extended session Thursday after the cybersecurity company’s results and forecast topped Wall Street expectations amid a tough cloud-software environment. Zscaler shares ZS, +5.40% slipped about 1% after hours, following a 0.3% decline in the regular session to close at $135.09. The company forecast adjusted earnings of about 49 cents a…
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Dell stock pulls back after forecast suggests record sales decline will continue
Dell Technologies Inc.’s revenue plunged in the fiscal first quarter by the largest percentage on record for the company, and executives expect a similar drop in the current quarter. On Thursday, Dell DELL, +3.98% reported first-quarter earnings of $578 million, or 79 cents a share, on sales of $20.9 billion, down nearly 20% from $26.12…
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NEP Stock Price | NextEra Energy Partners LP Stock Quote (U.S.: NYSE)
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Americans expect inflation to stay painfully high. That’s good news for stocks.
Headline inflation may have come down over the past year, but consumers’ expectations about future inflation have not. In fact, five-year expected inflation has been inching up rather than down in recent months, according to the University of Michigan consumer survey. The median expectation is that inflation will run at a 3.1% annualized pace over…
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WeQuit: WeWork bonds sink after top executives resign from cash-burning company
WeWork Inc. bonds have been sinking deeper into distressed territory after two top executives left the company on the heels of a complex debt restructuring. WeWork’s roughly $163 million of 7.875% bonds due May 2025 were trading hands at about 45 cents on the dollar on Thursday, down from about 55 cents in mid-May, according…
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GPC Stock Price | Genuine Parts Co. Stock Quote (U.S.: NYSE)
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America’s latest pullback from the debt-ceiling cliff won’t be its last
With Congress raising the debt-ceiling and both sides of the aisle grumbling about the outcome, the debate over the mechanics of paying for the U.S. government’s obligations and the close call with default now fades back into obscurity. Until the next time. Assuming Congress won’t do away with the debt ceiling and push all spending…
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Senate passes debt-ceiling bill in 63-36 vote, sending it to Biden to get signed into law
The U.S. Senate voted 63-36 in favor of a crucial debt-ceiling bill on Thursday night, sending the measure to President Joe Biden to be signed into law. The Fiscal Responsibility Act, which the Republican-run House of Representatives approved on Wednesday night in a 314-117 vote, raises the ceiling for federal borrowing and avoids a market-shaking…
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Bilibili shares slip in Hong Kong amid growth concerns
Bilibili’s shares fell in early Asian trading Friday, as investors weighed tepid near-term growth prospects even as the company’s bottom line improved in its latest quarterly results. Bilibili’s Hong Kong-traded shares HK:9626 were 3.3% lower at HK$120.00, bucking a rally in tech stocks in the Asian financial hub. The Hang Seng Tech Index was up…