Author: Press Room
Discount apparel retailer Ross has upgraded its guidance after exceeding Wall Street’s estimates for its second quarter, as low-income shoppers seek out deals to offset rising costs.The company reported profits of $1.59 per share last quarter, better than its own guidance and analysts’ expectations. It also raised its profit outlook for the full year to a range of $6 to $6.13 a share, up from $5.79 to $5.98 a share.“Delivering the great values that our off-price customers have come to expect from us is more important than ever, especially given the continued pressures they face from the high costs on…
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Democratic presidential nominee Kamala Harris is working hard to win the support of older voters, but what would she do to address their many concerns if she is elected president? In a campaign that has not yet shown many of its policy cards, Harris has offered only the roughest sketch of a governing agenda. But her time as vice president and senator provides some important clues. Among the issues she has addressed in some fashion: Paid family leave, more aggressively lowering the cost of Medicare drugs, unspecified Social Security reforms, tougher nursing home regulation, more funding for Medicaid home and…
A surprising jobs report released last week paired with a volatile Japanese market led to a massive selloff during Monday’s trading day, with both the Dow Jones and the S&P seeing their worst sessions since 2022. In the Bureau of Labor Statistics’ most recent employment report, only 114,000 jobs were added, down substantially from the previous month when 206,000 jobs were added. This sudden slowdown in employment has led to mounting concerns about an economic recession. The selloff, largely set off by the report, has some uncomfortable similarities to market crashes like the 1987 Black Monday stock market crash and…
Check out the companies making headlines after the bell: Cava Group — The fast-casual restaurant brand saw shares climb nearly 6% in after hours trading following a better-than-expected earnings report. Cava posted a profit of 17 cents per share, or 4 cents above the LSEG estimate. Its revenue also came in above expectations.Uber — Shares of the ride-sharing platform fell about 3% after the company and General Motors’ Cruise announced a multiyear partnership. The embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year. GM shares rose more than 1% after hours.Ross Stores — The…
Uber Technologies and General Motors’ Cruise have agreed to a multi-year partnership, under which the embattled autonomous vehicle company plans to offer driverless rides to Uber users as soon as next year.The Thursday announcement comes as Cruise attempts to revive its robotaxi business after the company ceased operations following an October 2023 incident in which a pedestrian in San Francisco was dragged 20 feet by a driverless Cruise vehicle after she was first struck by a human driver in another car.State and federal regulators have investigated the incident, which led to an exodus of Cruise leaders including CEO and co-founder…
Nestle is replacing Chief Executive Mark Schneider with long-serving executive Laurent Freixe, the company said on Thursday, a big change at the world’s biggest foodmaker which has struggled with the cost of living crisis hitting customers. Schneider has decided to relinquish his roles as CEO and member of the Board of Directors after eight years leading the company, Nestle said. Nestle has struggled recently, last month cutting its full year sales outlook, saying it had had to slow its price hikes as cash-strapped customers become more price conscious. Shares at the maker of KitKat chocolate bars and Nestle instant coffee have fallen 8% in 2024, underperforming rivals like…
Synopsys, Inc. (NASDAQ:SNPS) Q3 2024 Earnings Call Transcript August 21, 2024 5:00 PM ET Company Participants Trey Campbell – SVP, IRSassine Ghazi – President and CEOShelagh Glaser – CFO Conference Call Participants Harlan Sur – JPMorganVivek Arya – Bank of AmericaJoe Vruwink – BairdJason Celino – KeyBancLee Simpson – Morgan StanleyRuben Roy – StifelCharles Shi – Needham & CompanyJoshua Tilton – Wolfe ResearchJay Vleeschhouwer – Griffin Securities Operator Ladies and gentlemen, welcome to the Synopsys Earnings Conference Call for the Third Quarter Fiscal Year 2024. At this time, all participants are in a listen-only mode. Later, we will conduct a…
Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.OpenAI has hit out at a California bill aiming to ensure powerful artificial intelligence is deployed safely and suggested that new controls would threaten its growth in the state, joining a last-minute lobbying frenzy by investors and AI groups to block the legislation. The bill, SB 1047, threatens “California’s unique status as the global leader in AI,” the company’s chief strategy officer Jason Kwon wrote in a letter to Scott Wiener, the California state senator spearheading the bill. It could “slow the…
Former President Donald Trump falsely claimed Wednesday that his Democratic opponent in the presidential election, Vice President Kamala Harris, met with Russian President Vladimir Putin just days before Russia invaded Ukraine in 2022. Trump said in a speech in North Carolina: “Remember when Biden sent Kamala to Europe to stop the war in Ukraine. She met with Putin, and then three days later, he attacked. How did she do? Do you think she did a good job? She met with Putin to tell him, ‘Don’t do it.’ And three days later, he attacked; that’s when the attack started. Did you…
