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U.S. Manufacturing Index Inches Higher But Still Indicates Contraction In July
A report released by the Institute for Supply Management on Tuesday showed U.S. manufacturing activity contracted for the ninth consecutive month in July. The ISM said its manufacturing PMI crept up to 46.4 in July from 46.0 in June, but a reading below 50 continues to indicate contraction. Economists had expected the index to inch up to 46.8.
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1147 days ago
Uber Q2 Profit Tops Estimates, But Revenues Miss
Ride-hailing and delivery platform Uber Technologies, Inc. reported Tuesday a profit for the second quarter compared to a steep loss last year, driven by a revenue growth and an unrealized gain. Gross bookings grew 16 percent and the company projects higher gross bookings in the third quarter. Earnings per share for the quarter topped analysts' expectations, while quarterly revenues missed it.
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1147 days ago
UK Nationwide House Prices Decline Most Since 2009
UK house prices registered the biggest fall since mid-2009 as the rising interest rates stretched the housing affordability and damped demand. The house price index posted an annual fall of 3.8 percent in July, faster than June's 3.5 percent decrease, the Nationwide Building Society reported Tuesday.
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1147 days ago
Canadian Dollar Drops As Oil Prices Fall On China Demand Worries
The Canadian dollar weakened against its most major counterparts in the European session on Tuesday amid falling oil prices, as weak PMI data from Asia and Europe revived worries about global growth and fuel demand.
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1147 days ago
Eurozone Manufacturing Downturn Worsens In July
Euro area manufacturing slowdown worsened in July amid steeper declines in output, new orders and purchases, signaling that the economy is heading into a recession, final survey results from S&P Global showed on Tuesday. Official data showed that the unemployment rate remained unchanged at a record low in June despite the weak economic activity.
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1147 days ago
UK Manufacturing Shrinks Most In 7 Months
The British manufacturing downturn deepened in July as output, new orders and employment all fell at faster rates amid market weakness, both domestically and internationally, survey results from S&P Global revealed Tuesday. The Chartered Institute of Procurement & Supply Manufacturing Purchasing Managers' Index, or PMI, dropped to a seven-month low of 45.3 in July from 46.5 in May.
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1147 days ago
Illinois Tool Works Boosts FY22 EPS Outlook As Q2 EPS Tops Estimates
While reporting financial results for the second quarter on Tuesday, Illinois Tool Works, Inc. (ITW) raised earnings guidance for the full-year 2023, while maintaining annual revenue and organic revenue growth outlook.
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1147 days ago
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Bay Street Seen Opening On Weak Note
Lower commodity prices and weak European stocks point to a negative start for the Canadian market Tuesday morning.
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1147 days ago
Ecolab Guides Q3 Adj. EPS In Line With Estimates - Update
While reporting financial results for the second quarter on Tuesday, Ecolab Inc. (ECL) said it expects adjusted earnings for the third quarter in a range of $1.45 to $1.55 per share.
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1148 days ago
Watsco Q2 Results Misses Estimates - Update
Watsco, Inc. (WSO), a distribution network for heating, air conditioning and refrigeration products, on Tuesday reported that earnings allocated to shareholders for the second quarter declined to $160.85 million or $4.42 per share from $174.99 million or $4.93 per share in the prior-year quarter.
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1148 days ago
Marriott Int'l Boosts FY23 Outlook - Update
While reporting financial results for the second quarter on Tuesday, Marriott International, Inc. (MAR) raised its adjusted earnings, gross fee revenues and worldwide comparable systemwide constant currency RevPAR growth guidance for the full-year 2023.
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1148 days ago
U.S. Dollar Advances On Growth Concerns
The U.S. dollar climbed against its major counterparts in the European session on Tuesday amid risk aversion, as weak manufacturing PMI data from Asia and Europe revived growth worries.
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1148 days ago
Pfizer Reaffirms FY23 Adj. EPS Outlook - Update
While reporting financial results for the second quarter, drug major Pfizer Inc. (PFE) reaffirmed its adjusted earnings guidance for the full-year 2023, while trimming annual revenue outlook.
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1148 days ago
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