General Electric Shares Gain Despite a Q3 EPS Miss, Slashed FY Profit Forecast By

© Reuters. By Senad Karaahmetovic Shares of General Electric (NYSE:) are up about 5% in pre-open Tuesday trading after the company delivered mixed Q3 results. General Electric an EPS of $0.35, a big miss compared to the analyst estimate of $0.50. Revenue for the quarter came in at $19.1 billion versus the consensus estimate of … Read more

AT&T Shares Up 3% on Raised Profit Forecast By

© Reuters. By Senad Karaahmetovic Shares of AT&T (NYSE:) are trading almost 3% higher in early Thursday trading after the company raised its full-year profit guidance. For Q3, AT&T an EPS of $0.68 on revenue of $30 billion, higher than the consensus of $0.61 on sales of $29.87 billion. The company also added 964,000 wireless … Read more

Generac Tumbles 16% After Slashing Full-Year Forecast By

© Reuters. By Senad Karaahmetovic Generac (NYSE:) shares tumbled 15% in pre-market trading Wednesday after the company lowered its full-year sales growth guidance. Generac now sees net sales growing between 22% and 24%, much lower than the prior forecast of 36% to 40%. The adjusted EBITDA margin is seen at 18-19%, down from 21.5-22.5%. The … Read more

Forecast for US Recession Within Year Hits 100% in Blow to Biden

(Bloomberg) — A US recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to President Joe Biden’s economic messaging ahead of the November midterms. The latest recession probability models by Bloomberg economists Anna Wong and Eliza Winger forecast a higher recession probability across all timeframes, with the … Read more

IMF & World Bank Forecast High Risk of Global Recession: Key Drivers & Estimates

By Malvika Gurung — Leaders of the World Bank and International Monetary Fund (IMF) have forecasted the probability of the world economy succumbing to recession in the upcoming year, in a face-to-face conversation between the groups. The financial giants have flagged rising risks of global recession as a slowdown in the growth of developing … Read more

Goldman Expects AMD to Cut its FY Forecast This Month, Says Headwinds are Priced In By

© Reuters By Senad Karaahmetovic Goldman Sachs cut price targets on Advanced Micro Devices Inc (NASDAQ:) and Intel Corporation (NASDAQ:) to reflect slashed CPU volume assumptions. The PC market is experiencing near-term weakness; hence estimates are lowered to reflect the ongoing market trends. The price target on AMD is cut to $88 per share from … Read more

RBI Retains FY23 Inflation Forecast & Revises GDP Growth Figures; Q1FY24 Numbers

By Malvika Gurung — The Monetary Policy Committee (MPC) of RBI has retained the country’s projection for the current financial year at 6.7% amid upside risks from food inflation. The central bank expects inflation to fall to 5% by the first quarter of the next financial year (FY24), which is under the tolerance range … Read more

Goldman Lowers U.S. GDP Forecast and Raises Unemployment Rate Estimate to Reflect Lower Growth Path By

© Reuters By Senad Karaahmetovic The chief economist of investment bank Goldman Sachs, updated the bank’s GDP and unemployment forecasts in 2023 to reflect a higher rates path. A series of moves come after the bank’s strategists raised the Fed Funds rate forecast by 75bp over the last two weeks. Goldman Sachs now expects that … Read more

Fitch Pares India’s GDP Forecast in FY23: Major Drivers & Global Targets

By Malvika Gurung — The American credit rating agency Fitch Ratings has slashed the GDP growth forecast for all the major economies, including India’s. In its Global Economic Outlook report, the rating agency has cut India’s for the ongoing financial year to 7% from its previous forecast of 7.8%. For the next financial year, … Read more

Humana Raises Adjusted Earnings Forecast Due to Lower-Than-Expected Medical Costs By

By Sam Boughedda Humana Inc (NYSE:), a health insurance firm, increased its full-year adjusted earnings forecast by $0.25 per share, driven by continued lower-than-expected medical costs. The news resulted in shares of Humana rising. They are currently trading 7.9% higher at the time of writing. Humana’s FY 2022 EPS guidance was increased to $23.08 from … Read more