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Nasdaq Jumps 4% After Fed Rate Hike

Jul 27, 2022
Barry Adams
Stocks soared on Wall Street after the Federal Reserve lifted its key lending rate by a larger-than-expected 0.75 percentage point. Tech stocks led the advance ahead of the GDP data on Wednesday.

UPS Parcel Volume Decline On Higher Prices

Jul 27, 2022
Scott Peters
UPS said quarterly revenues increased despite the decline in domestic parcel volumes and the delivery company plans to lift its stock repurchase limit.

UPS

Visa Results Improve On Rising Travel Activities

Jul 27, 2022
Scott Peters
Visa Inc said revenues and earnings improved as travel activities picked up and the payment processor continued its stock repurchase program.

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Stocks On Wall Street Rally Ahead of Rate Decision

Jul 27, 2022
Barry Adams
Benchmark indexes jumped more than 1% ahead of the rate decision supported by a barrage of generally positive corporate earnings.

Alphabet Earnings Fall On Slower Revenue Growth

Jul 26, 2022
Scott Peters
Google's parent reported its slowest revenue growth in two years as the company battled strong dollar and macroeconomic headwinds. Ad revenues on the YouTube channel was flat and the company reported higher operating losses in its cloud segment.

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Microsoft Earnings Growth Slows On Strong Dollar and Slowing Cloud Growth

Jul 26, 2022
Scott Peters
Microsoft said strong dollar and weakening growth in cloud segment hurt its latest quarter's earnings. Xbox related revenues shrank after the ending of pandemic.

MSFT

General Motors Earnings Plunge 40%

Jul 26, 2022
Scott Peters
General Motors earnings plunged 40% and the company said supply chain disruptions prevented the automaker from shipping 100,000 vehicles.



Coca-Cola Lifted Full-Year Sales and Earnings Growth Outlook

Jul 26, 2022
Scott Peters
Coca-Cola June quarterly sales growth was primarily driven by price-increase and volume mix improvements. Unit case volumes rose 8% across all operating regions.

UBS Reports Weak Performance Across All Divisions

Jul 26, 2022
Scott Peters
UBS AG said revenues in the second quarter were nearly flat and earnings rose 5% driven by a one-time asset sale in Japan.

UBS

Nasdaq and S&P 500 Down 1% On Rate Jitters

Jul 26, 2022
Barry Adams
Rate jitters dragged benchmark indexes lower ahead of Fed's decision tomorrow. European markets declined on the natural gas supply uncertainties. Natural gas prices soared to the levels last seen in 2008.

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EU States Agrees to Cut Gas Consumption, UBS Drops 10%

Jul 26, 2022
Bridgette Randall
European markets traded lower and the EU member nations agreed to cut down natural gas consumption by 15% in the next eight months as Russia throttles supplies through the Nord Stream pipeline network.

Asian Indexes Slip In Cautious Trading, South Korea's GDP Expands

Jul 26, 2022
Arjun Pandit
Asian markets traded mixed as Chinese authorities prepare to set up a bailout fund and revive select real estate projects.

Walmart Lowered Profit Outlook, Inflation Affects Consumer Spending Pattern

Jul 25, 2022
Scott Peters
Walmart lowered its second quarter and full-year earnings outlook. Higher food and fuel prices are affecting consumer spending, requiring more price cuts on apparel and other goods. Strong dollar is impacting international sales.

WMT

U.S. Stocks Waver Ahead of Rate Decision and GDP Data

Jul 25, 2022
Barry Adams
U.S. benchmark indexes lacked direction ahead of the release of GDP data and Fed's interest rate hike later in the week.

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Tech Weakness Drags U.S. Stocks Lowe, European and Asian Markets Gain

Jul 22, 2022
Barry Adams
Tech companies relying on advertising fell after Snap and Twitter reported weak advertising revenues. European markets gained despite deepening slowdown in the private sector. Earnings optimism drives Asian markets higher.