Barclays has made an upbeat forecast for stocks in 2024, expecting higher, yet more moderate, returns than the exceptional gains of last year. The investment bank believes stocks still have room to rise if inflation continues slowing, allowing central banks to eventually cut interest rates. “Much dislocation remains under the hood, with value, small caps … Read more
Spirit Airlines jetliners on the tarmac at Fort Lauderdale Hollywood International Airport. (Joe Cavaretta/South Florida Sun Sentinel/Tribune News Service via Getty Images) Joe Cavaretta | South Florida Sun-sentinel | Getty Images Spirit Airlines on Friday raised its financial forecast for the fourth quarter of 2023, sending its shares soaring more than 20% after a rout … Read more
Birkenstock kicked off its first quarter on the public markets with strong sales results, but a muted profit outlook for 2024. Shares of the German sandal company were down more than 10 percent in pre-market trading after the company, which debuted on the New York Stock Exchange in October, warned that 2024 margins would likely see a … Read more
Jakub Porzycki | Nurphoto | Getty Images The world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Company on Thursday posted better-than-expected profit and revenue on the back of weaker macroeconomic conditions. Here are TSMC’s fourth-quarter results versus LSEG consensus estimates: Revenue: 625.53 billion New Taiwan dollars ($19.62 billion), vs. NT$618.31 billion expected Net income: NT$238.71 billion, vs. NT$225.22 billion … Read more
Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company’s full-year profit outlook was below a previous forecast, and the stock fell 6% in … Read more
Samsung is the world’s biggest maker of memory chips. Jakub Porzycki | Nurphoto | Getty Images Samsung Electronics on Tuesday said it expects to post a 35% drop in operating profit in the fourth quarter of 2023, missing expectations by a wide margin as a rebound in semiconductor prices likely narrowed losses in the South … Read more
Samsung Electronics is expected to report its smallest profit drop in six quarters, analysts estimate, as a rebound in semiconductor prices shrinks losses in the South Korean company’s mainstay chip division. The world’s biggest maker of memory chips, smartphones and televisions is expected to show a 14 per cent fall in fourth-quarter profit when it … Read more
Apple’s iPhone 15 series devices are displayed for sale at The Grove Apple retail store on release day in Los Angeles on Sept. 22, 2023. Patrick T. Fallon | AFP | Getty Images Apple supplier and lead iPhone assembler Foxconn on Friday reported a revenue drop for the final quarter of 2023 and said it … Read more
DETROIT – General Motors’ U.S. vehicle sales increased 14.1% last year to represent the automaker’s best year since 2019, prior to the impacts of the coronavirus pandemic and yearslong supply chain problems. The Detroit automaker on Wednesday reported sales of roughly 2.6 million vehicles in 2023, including 625,176 cars and trucks sold during the fourth … Read more
Apple shares slipped 4% on Tuesday, after Barclays downgraded the stock to underweight and slightly trimmed its price target from $161 to $160. Barclays analyst Tim Long wrote in a note to clients Tuesday that the iPhone 15’s current “lackluster” sales, specifically in China, presaged similarly weak iPhone 16 sales — weakness that Long expects … Read more
