Apple offers breadcrumbs for a forecast, but is that enough to reassure Wall Street?

Apple Inc.’s breadcrumbs lead back to a familiar place: The iPhone is all that matters. After posting its largest revenue decline in more than six years — led by underwhelming iPhone sales — in its fiscal first-quarter earnings report Thursday, Apple once again refused to provide a traditional forecast for the coming quarter or year. … Read more

Beyond Meat revamps its retail strategy, hires new marketing executive

Beyond Meat Inc. BYND, +19.15%  is revamping its retail sales strategy to center on five major grocers and hiring a new marketing executive as part of an effort to reinvigorate the plant-based food maker’s business. The California-based company is orienting its retail business around Kroger Co. KR, -0.46%, Walmart Inc. WMT, -0.73%,  Publix Super Markets Inc., Costco Wholesale Corp. COST, … Read more

Amazon stock falls as least profitable holiday quarter since 2014 leads to its worst annual loss on record

Amazon.com Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth. Amazon AMZN, +7.38% reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 … Read more

Starbucks stock falls as results — weighed down by China sales — miss estimates

Starbucks Corp.’s first-quarter results failed to meet Wall Street estimates because of weakness in China, and the company’s stock fell sharply in extended trading Thursday. Starbucks SBUX, -0.76% shares dropped more than 3.5% after hours, after falling less than 1% in the regular session to close at $109.15.  The company said that while global same-store … Read more

Align Tech’s stock surges 30% to lead S&P 500 as Invisalign sales resume growth

Align Technology Inc. shares rallied Thursday, making one of the worst stocks of 2022 among the best of 2023 so far. Align ALGN, +25.37% surged as much as 30% to an intraday high of $368.87, making it the best-performing stock on both the S&P 500 SPX, +0.98% and the Nasdaq 100 NDX, +2.84% Thursday, with … Read more

Lilly’s ambitious diabetes drug Mounjaro fails to impress in the fourth quarter

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

Infineon profit nearly doubles as revenue climbs on strong demand for chips

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

Costco same-store sales gain in January even as early Lunar New Year poses headwind

Costco Wholesale Corp. shares ticked higher in the extended session Wednesday after the warehouse club reported rising sales during January, even with a headwind from an earlier Lunar New Year this year. Costco’s COST, +1.32% January sales rose 6.9% to $16.84 billion, up from $15.76 billion a year ago. For the 22 weeks ending Jan. … Read more

Ron DeSantis pushes permanent ban on Florida sales tax on gas stoves

Ron DeSantis, the governor of Florida and a likely 2024 candidate for president, delivered on an earlier promise Wednesday when he said new gas stoves — in fact, all gas appliances — should be exempt from his state’s sales tax. DeSantis rolled out the first budget of his second term, and among the proposed breaks for taxpayers is … Read more

Elf Beauty stock rallies 12% on ‘terrific’ quarter

Elf Beauty Inc. stock skyrocked 12% in the extended session Wednesday after the beauty-products maker and retailer reported quarterly profit and sales well above Wall Street hopes and raised its outlook for the year. Elf Beauty ELF, +1.67% earned $19.1 million, or 34 cents a share, in the fiscal third quarter, compared with $6.2 million, … Read more