Qualcomm Inc. shares rose in the extended session Thursday after the chip maker beat Wall Street expectations slightly on earnings, and projected confidence amid an outlook that fell just short of the consensus. Qualcomm QCOM, -1.89% shares rose 3% after hours, following a 1.9% decline in the regular session to close at $135.85. “The long-term … Read more
Eli Lilly’s LLY, -5.55% new Type 2 diabetes treatment Mounjaro may be in high demand, but the drug had a wobbly fourth quarter, with sales coming in far below Wall Street’s expectations. Mounjaro, a GIP (glucose-dependent insulinotropic polypeptide) and GLP-1 receptor agonist that received Food and Drug Administration approval in May, brought in $279.2 million … Read more
President Joe Biden will face no small task on Tuesday night, when he delivers his State of the Union speech after a little more than two years in office. Biden looks poised to tackle the debt-limit standoff, recession worries and acts of violence at home and abroad in his remarks. At the same time, American … Read more
Qorvo Inc. shares fell Thursday while the broader market rallied after analysts said inventory digestion will likely hamper the radiofrequency chip maker until the second half of the year. Qorvo QRVO, -4.80% shares fell nearly 10% Thursday to an intraday low of $102.60, a drop of 6%. The S&P 500 index SPX, +1.40%, meanwhile, was … Read more
An earlier version of this article had an image of the company’s former CEO. It has been updated. ABB’s profit and revenue fell in the latest quarter, but still beat estimates. tobias schwarz/Agence France-Presse/Getty Images ABB Ltd said Thursday that its net profit declined in the final quarter of 2022 as orders fell and customers … Read more
Orders for U.S. manufactured goods rose 1.8% in December, led by strong demand for civilian aircraft, the Commerce Department said Thursday. Economists surveyed by the Wall Street Journal were expecting a gain of 2%. Durable-goods orders rose 5.6% in December, unrevised from the initial estimate. Orders for commercial aircraft, mainly Boeing airplanes rose sharply. Factory … Read more
The numbers: U.S. productivity rose at a 3% annual clip in the fourth quarter, the government said Thursday. That’s the fastest pace for the year. Economists surveyed by the Wall Street Journal had projected a 2.5% increase. In all of 2022, U.S. productivity declined at a 1.3% rate. That’s the lowest annual rate since 1974. … Read more
Ahead of major tech earnings, Meta results are ready to light up the Nasdaq Composite COMP for Thursday. The S&P 500 SPX is also pointing to gains as investors take a glass-half full view of the Fed meeting. Worried that investors are in the clutches of another Fed misread is the founder of LaDucTrading.com, Samantha LaDuc. “The … Read more
Siemens Gamesa Renewable Energy SA reported Thursday a widened net loss for the first quarter of fiscal 2023, as high costs offset a rise in revenue. The Spanish wind-turbine maker SGRE, said net loss for the quarter to Dec. 31 was 884 million euros ($971.6 million) compared with a loss of EUR403 million a year … Read more
Infineon Technologies AG on Thursday posted higher revenue and profit for its fiscal first quarter as strong chips sales in the automotive and industrial segments offset weaker demand for smartphones, computers and data centers. The German chip maker IFX, +1.47% said revenue for the three months ended Dec. 31 climbed to 3.95 billion euros ($4.34 … Read more