U.S. consumer spending and prices rose moderately in June, pointing to slower economic growth and benign inflation that could see the Federal Reserve cutting interest rates on Wednesday for the first time in a decade.
Wall Street’s main indexes were set to open lower on Tuesday, as worries about the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into the positive sentiment that drove markets to record highs last week.
Procter & Gamble Co’s quarterly revenue and profit beat Wall Street expectations on Tuesday, sending shares up even as the world’s No.1 personal goods company took an $8 billion writedown on its Gillette shaving business.
Sportswear maker Under Armour Inc on Tuesday cut its full-year revenue forecast for North America, its biggest market, as it suffered in the face of a strong performance by bigger rivals Nike and Adidas, sending its share down 11%.
Eli Lilly and Co beat analysts’ estimates for quarterly profit and raised its full-year earnings forecast on Tuesday, as higher sales of diabetes drugs Trulicity and Basaglar offset competition for its erectile dysfunction treatment, Cialis.
Ralph Lauren Corp on Tuesday beat Wall Street estimates for quarterly revenue and profit powered by growth in North America, as a social media marketing blitz and new launches drove demand, sending its shares up 5% in premarket trading.
Brazil planemaker Embraer delivered 26 commercial planes in the second quarter of 2019, down from 28 planes in the same period of 2018 and 35 in 2017, the company said in a securities filing on Tuesday.
U.S. stock index futures dropped on Tuesday, as worries about the scale of consensus at the Federal Reserve in favor of deeper cuts in interest rates ate into the positive sentiment that drove indexes to record highs last week.
Swiss prosecutors said on Tuesday they are assisting Japanese authorities in their investigation into former Renault and Nissan Motor boss Carlos Ghosn, who faces charges of fraud and misconduct.
Procter & Gamble Co’s quarterly revenue and profit beat Wall Street expectations on Tuesday, boosted by price hikes and strong demand for its beauty products such as SK-II and Olay, sending its shares up about 4% before the opening bell.
Independent oil and gas producer ConocoPhillips reported an 11.6% drop in quarterly profit on Tuesday, as fears of slowing global economy weighed on crude prices.
Sportswear maker Under Armour Inc on Tuesday cut its full-year revenue forecast for North America, its biggest market, in the face of stiff competition from bigger rivals Nike Inc and Adidas AG , sending its share down 10%.
Seven years ago, Diamondback Energy Inc went public with a modest parcel of drillable land in the Permian Basin of West Texas.
Eli Lilly and Co beat analysts’ estimates for quarterly profit on Tuesday and raised its full-year earnings forecast, as higher sales of diabetes drugs Trulicity and Basaglar offset competition for its erectile dysfunction drug, Cialis.
Chinese tech giant Huawei Technologies warned on Tuesday a U.S. trade blacklisting will impact short-term revenue growth, even as its half-year revenue surged 23% thanks to soaring smartphone sales at home.
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