Starbucks (SBUX) Q2 2020 earnings: Same-store sales fall 10%

Starbucks on Tuesday said that its fiscal second-quarter global same-store sales fell 10% as the coronavirus hit sales in its two largest markets, the United States and China. The company also warned that its fiscal third-quarter results will take an even bigger hit from the pandemic, even as sales in China begin to recover.  Shares of the company fell more than 1% in extended trading. Here’s what the company reported for the quarter ended March 29: Earnings per share: 32 cents, adjusted Revenue: $6 billion  The coffee chain reported fiscal second-quarter…

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3M (MMM) earnings q1 2020

This is breaking news. Please check back for updates. 3M shares jumped Tuesday after the manufacturing conglomerate reported first-quarter earnings and revenues that topped Wall Street’s expectations as demand for safety equipment and cleaning products spiked amid the coronavirus pandemic. The company said in a release that it saw a mix of results across its segments, but especially “strong” numbers in its personal safety unit given its role in the production of key N95 respirator masks amid the global Covid-19 outbreak. The St. Paul, Minnesota-based 3M said Tuesday that it’s doubled…

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Caterpillar (CAT) earnings Q1 2020

An employee assembles an excavator at the Caterpillar Inc. manufacturing facility in Victoria, Texas. Callaghan O’Hare | Bloomberg | Getty Images Caterpillar experienced a sales drop in the first quarter as the coronavirus pandemic disrupted demand for construction and mining. The industrial giant on Tuesday reported revenues of $10.6 billion in the first quarter, a 21% decrease compared with $13.5 billion in the first quarter of 2019. The decline was due to lower sales volume driven by “lower end user demand” and the impact from changes in dealer inventories, the company…

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Outside of the big 5 tech companies, earnings growth is zero

The stock market may be hovering around all-time highs, but just 5 companies are contributing to the S&P 500’s earnings growth, Goldman Sachs said in a new note. After crunching the data from the 397 S&P components that have reported earnings so far this quarter, the firm found that “FAAMG” — or Facebook, Amazon, Apple, Microsoft and Google parent Alphabet — grew their fourth quarter earnings by 16% year-over-over. Overall, the S&P’s fourth quarter earnings are up 2%, but all of that is thanks to the FAAMG stocks. Without these…

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Shares of Groupon fall over 20% after fourth-quarter earnings and revenue miss estimates

Groupon Inc. signage is displayed at company headquarters in Chicago, Illinois Tim Boyle | Bloomberg | Getty Images Shares of Groupon dropped 25% during extended trading Tuesday after the company reported fourth-quarter financial results that missed analyst expectations for the top and bottom line. The e-commerce company reported fourth-quarter earnings of 7 cents per share excluding some items, while analysts had expected earnings of 15 cents per share, according to Refinitiv. Groupon reported $612 million in revenue for the fourth quarter, which came in well short of the $709 million that…

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Dish Networks earnings Q4 2019

Dish Networks exhibit at CES 2016 in Las Vegas. Justin Solomon | CNBC U.S. satellite TV provider Dish Network’s quarterly results beat Wall Street estimates on Wednesday, as it lost fewer pay-TV subscribers. Dish has been struggling to retain subscribers for its pay-TV business, as customers shift to online streaming services including those from Netflix, Walt Disney, and Apple. The company’s pay-TV business, which includes satellite TV and Sling TV, lost a net of 194,000 subscribers in the fourth quarter, fewer than the 334,000 it lost a year earlier. The…

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Analog Devices Q2 revenue forecast misses on coronavirus concerns

Rafael Henrique | SOPA Images | Getty Images Chipmaker Analog Devices on Wednesday forecast second-quarter revenue that fell short of analysts’ estimates, as the company accounted for a $70 million hit related to the coronavirus outbreak. Analog Devices joins Apple and a host of other companies expecting potential damages from the rapidly spreading virus, which has killed over 2,000 in China, disrupting supply chains and delaying reopening of factories after the extended Lunar New Year holiday break. Demand across our end markets has stabilized and is beginning to show signs…

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Zillow (z) earnings Q4 2019

Scott Eells | Bloomberg | Getty Images Zillow on Wednesday reported a surge in quarterly revenue and a smaller-than-expected loss as more people used its real estate website to buy and sell homes, sending its shares up 10% in trading after the bell. Revenue from the company’s home unit, which accounts for more than half of its revenue, ballooned to $603.2 million in the fourth quarter ended Dec. 31 from $41.3 million a year earlier. Revenue from its Premier Agent Program, which promotes real estate brokers for a fee, rose…

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Maersk earnings Q4 2019

A.P. Moller-Maersk is the largest container shipping company in the world. Andia | UIG via Getty Images Shipping giant Maersk warned on Thursday that the coronavirus outbreak would weigh on earnings this year, compounding the woes of a container shipping industry already subdued by trade wars and an economic slowdown. Maersk, which reported a lower-than-expected fourth-quarter profit on Thursday, forecasted a weak start to the year because factories in China were closed for longer than usual after the Chinese New Year holiday. “Weekly container vessel calls at key Chinese ports…

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ViacomCBS (VIACA) earnings Q4 2019

CBS logo seen at the CBS Television City Studio in Los Angeles, California. SOPA Images | LightRocket | Getty Images ViacomCBS on Thursday said its earnings fell short of revenue and profit expectations in its first quarterly earnings results since closing its merger, sending shares down 7% in premarket trading. Viacom and CBS completed their merger in December in their third attempt since 2016, aiming to gird against competition in a rapidly consolidating media universe while partnering with and battling the likes of Netflix and Walt Disney. The merger reunited…

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