Earnings, global markets help PSX recover | The Express Tribune
KARACHI: Pakistan Stock Exchange (PSX), after coming under pressure initially, rebounded and closed with a modest rise of nearly 350 points in the outgoing week as investor interest grew in the face of robust corporate results and recovery in global equities. At the beginning, the market’s momentum was largely influenced by investor hesitation, caused by […]
Global companies face earnings challenge | The Express Tribune
NEW YORK: Global companies are lowering their full-year sales and profit expectations due to higher interest rates and a weakening Chinese economy, negatively impacting consumer sentiment and diminishing the luster of recent earnings growth. Several prominent companies, including McDonald’s, Nissan, Tesla, Nestle, and Diageo, have failed to meet investor expectations. Approximately 40% of US and […]
Asian markets lack direction as disappointing US tech earnings impact stocks; yen strengthens | The Express Tribune
Asian stocks were subdued on Wednesday after lacklustre earnings from US tech behemoths Tesla and Alphabet dented sentiment, while the yen hit a six-week high ahead of a central bank meeting next week where a rate hike remains on the table. The US dollar was broadly firm, with traders watching out for an inflation reading on Friday […]
S&P 500 earnings growth seen at 9% | The Express Tribune
NEW YORK: With results in from about two-thirds of companies, fourth-quarter 2023 S&P 500, tab earnings growth is now seen at 9.0%, almost double a Jan 1 forecast for 4.7% growth, according to LSEG data on Friday. About 81% of reports are beating analysts’ expectations, compared with an average of 76% in the previous four […]
Pakistan among four Asian countries to lose $65bn textile export earnings amid climate crisis
In this photograph taken on April 13, 2023, women work at a garment factory in Savar, on the outskirts of Dhaka. — AFP Extreme heat and flooding are likely to wipe out $65 billion in garment export earnings from four Asian countries by 2030 as they endanger the employees’ health, as per new research. According […]
Apple’s second quarter earnings beat market buzz as iPhone sales boom
Customers wait in front of an Apple store in Munich. —AFP/File Tech giant Apple on Thursday reported second-fiscal quarter earnings, beating Wall Street buzz, mostly supported by stronger-than-expected iPhone sales. The company reported a profit of $24 billion and revenue of $94.8 billion in the first quarter of this year. “We are pleased to report […]
Amazon beats earnings expectations in Q1 with help from cloud and ads units
Amazon beats earnings expectations in Q1 with help from cloud and ads units. AFP/File Amazon reported strong earnings for the first quarter of this year, with its cloud and advertising units helping the company beat expectations despite cautious spending from shoppers and businesses. The company’s shares surged more than 10% following the release of the […]
12% YoY decrease in earnings on cotton | The Express Tribune
KARACHI: The agriculture sector is experiencing a shift in crop yields and income following the recent floods and support price adjustments. Wheat, sugarcane, and basmati rice are expected to see a rise in income per acre, but cotton crops have suffered damage. According to Engro Fertilisers Limited’s (EFERT) corporate briefing session for the fourth quarter […]
US, European shares rise as earnings remain mixed | The Express Tribune
WASHINGTON/LONDON: Major US and European equity indexes rose in choppy trade on Wednesday, and the euro dropped to its weakest since 2017 after Russia halted gas supplies to Bulgaria and Poland and investors worried more about the region’s economy. Wall Street rose, rebounding the day after a rout drove the Nasdaq to its lowest close […]
Sanofi sees strong earnings despite COVID vaccine delay
— AFP/File PARIS: French pharmaceutical group Sanofi posted strong 2021 sales on Friday and expects another good performance in 2022, as the popularity of its asthma therapy offset setbacks in developing a COVID vaccine. While Sanofi has yet to produce a jab against COVID, its Dupixent drug, which also treats eczema, has been a huge […]