Five Below lowered its estimate of sales and earnings and announced the departure of its chief executive. U.S. Bancorp reported better-than-expected quarterly results.

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Bank of America reported better-than-expected quarterly results and increased its loan loss provision. Morgan Stanley reported higher quarterly earnings amid broad strength in investment banking, equity trading, debt underwriting, and fund flows in its wealth management unit.

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Goldman Sachs reported better-than-expected earnings, and BlackRock said assets under management rose in the second quarter. Super Micro advanced after the company was selected to be included in the Nasdaq 100 index. 

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TCS said June quarter earnings edged lower, but revenue advanced in rupee and dollar terms. Mahindra & Mahindra reported a double-digit increase in vehicle sales in June. Prestige Estates Projects said June quarter revenue and square foot sales declined. 

Costco Wholesale increased its annual membership price. PriceSmart reported better-than-expected quarterly results. Pepsi Co. reported mixed quarterly results. MicroStrategy announced a stock split.

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U.S. Movers: 3M, LegalZoom.com, TSMC

Jul 10, 2024
Scott Peters
TSMC reported a sharp jump in revenue from a year ago in June. 3M Company said its finance chief resigned. LegalZoom.com lowered its annual revenue outlook and said its chief executive has departed.

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U.S. Movers: BP, indivior, Nvidia

Jul 9, 2024
Scott Peters
BP plc said its refining margins in the second quarter are likely to be lower due to multiple factors. Indivior, the UK-based drugmaker, lowered its annual adjusted earnings outlook and announced its plan to discontinue production of the schizophrenia drug. 

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Ford Motor said its vehicle sales in the second quarter rose 1%. Paramount Global's controlling shareholder is nearing an agreement to be acquired by Skydance Media. Southwest Airlines adopted a shareholder rights plan to ward off an activist investor.

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Walgreens lowered its quarterly earnings outlook again and said it plans to close a large number of underperforming stores in the U.S. Levi Strauss quarterly results fell short of market expectations.

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Volkswagen announced its plan to invest as much as $5 billion in a joint venture with the electric vehicle maker Rivian as the German automaker plays catch up. 

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SolarEdge Technologies plans to raise $300 million through the sale of convertible debt maturing in 2029. The regulators at the European Union said Microsoft is breaching antitrust rules in the region.

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RXO agreed to acquire the freight brokerage business from UPS for more than $1 billion. The European Union regulators said that Apple's App Store violated the region's new Digital Markets Act.

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Darden Restaurants reported flat comparable quarterly sales as consumers avoided fine dining experiences amid high costs of living and elevated interest rates. Accenture reported weaker-than-expected quarterly results, but the company's new AI-related bookings positively surprised investors.

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La-Z-Boy reported better-than-expected quarterly results. Chegg announced a restructuring plan that includes significant job cuts. Lennar said revenue, new home orders, backlog, and net income advanced in its latest quarter.

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U.S. Movers: Adobe, RH

Jun 14, 2024
Scott Peters
RH, the high-end furniture retailer, reported its third consecutive decline in sales and quarterly losses in a row amid challenging housing market conditions and elevated interest rates. Adobe reported better-than-expected quarterly results and lifted its annual outlook.

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