Earnings

Nike reported quarterly sales that topped analysts’ expectations, thanks to a boost from its digital business and growth in North America, which helped to offset weakness in China due to COVID-19.  Its shares shot up more than 8% in after-hours trading Tuesday following the release.  Chief Executive Officer John Donahoe said the business is starting to
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Corporate earnings are about to do something they haven’t done since the 2008 financial crisis: Turn negative. According to PNC Financial’s Amanda Agati, the coronavirus fallout could dramatically hurt companies through the second quarter. “Q1 expectations are in negative territory at about 1.5%. It looks like Q2 will be down about 1%,” the firm’s chief
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Shoppers sit outside of a J.C. Penney store at the Westfield Mall in Culver City, California. Martina Albertazzi | Bloomberg | Getty Images J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19. The department store chain announced Friday morning that it is not providing an updated outlook at this time. Earlier in
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A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. The company also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate the closure of dining rooms due the coronavirus
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U.S. package delivery company FedEx suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic. Even so, the company reported quarterly revenue that beat market expectations as more businesses turned to its international express plane service to
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Oracle CEO Safra Catz delivers a keynote address during the 2019 Oracle OpenWorld on September 17, 2019 in San Francisco, California. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address. The annual convention runs through September 19. Justin Sullivan | Getty Images Oracle shares rose as much
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Slack shares plunged in extended trading on Thursday after the maker of messaging software provided a disappointing forecast for the fiscal first quarter, citing uncertainty surrounding the coronavirus. The stock sank more than 20% to $17.03. That adds to an almost 10% drop during regular trading, as the shares fell alongside the broader market, which
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JetBlue Airways on Monday withdrew its first-quarter and full-year earnings forecast and said it was considering voluntary time-off programs for employees, as the coronavirus outbreak wreaks havoc on the global travel industry. JetBlue said it is adjusting schedules between March and early May due to falling demand, and is evaluating further flight cancellations as the
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Hyatt Regency Orlando International Airport. Source: Orlando International Airport Hyatt Hotels said on Monday it was withdrawing its 2020 earnings outlook, as the coronavirus outbreak spreads across the globe hurting travel demand. The company had previously forecast adjusted profit for 2020 between $760 million and $780 million. Greater China revenue per available room (RevPAR) has been
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Eric Yuan, CEO, Zoom Video Communications Source: CNBC Shares of videoconferencing software company Zoom dropped as much as 10% and then pared back part of its losses in extended trading on Wednesday after the company reported earnings and guidance that exceeded analysts’ expectations. Zoom had been on a tear during the coronavirus outbreak, as companies
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Nordstrom said Tuesday it is changing its leadership structure to retire its co-presidency, and naming Erik Nordstrom as its sole CEO. It announced the changes as it reported fourth-quarter earnings and sales that missed analysts’ estimates, sending shares tumbling. Its stock initially cratered more than 10% in after-hours trading following the release. Shares were recently down
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Pedestrians walk past a Victoria’s Secret store, a subsidiary of L Brands, in New York. Craig Warga | Bloomberg | Getty Images L Brands reported earnings and sales for the holiday quarter that topped analysts’ expectations, as it prepares to take its Victoria’s Secret lingerie business private. Its shares were relatively unchanged in after-hours trading
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