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Banking, Economy

“Turkey Central Bank Hikes Rate by Double the Forecast to 40%”

“…The Monetary Policy Committee raised the benchmark one-week repo rate by 500 basis points to 40%. The expectation was for an increase of 250 basis points and the currency extended gains after the decision… The currency’s down almost 35% against… Continue Reading…

Stocks

“Shares of American Eagle plummet 17% on unimpressive holiday forecast”

“…The forecast was dampened by an expected 20% uptick in selling and general administrative expenses, the company said…   The company’s reported net income for the three-month period that ended October 28 was $96.7 million, or 49 cents per share,… Continue Reading…

Business

“Nintendo hikes profit forecast as Mario movie, Zelda game breathe new life into Switch console”

“Nintendo reported better-than-expected sales and profit for its fiscal second quarter on Tuesday, as it continues to get a bump from the “Super Mario Bros. Movie” and flagship Zelda game released this year. Here’s how Nintendo did in its fiscal second… Continue Reading…

Business

“Eli Lilly Smashes Third-Quarter Forecasts As Diabetes [Drug] Blockbuster Grows 652%”

“…Mounjaro, Lilly’s new diabetes drug, brought in $1.41 billion in sales, growing 652% and coming in above estimates for $1.28 billion. Lilly is hoping the Food and Drug Administration will soon approve Mounjaro as a weight-loss drug…” https://www.investors.com/news/technology/eli-lilly-stock-eli-lilly-earnings-q3-2023/?src=A00220

Energy

“JPMorgan forecasts energy “supercycle” with Brent crude potentially hitting $150 per barrel”

“In a research report published on Friday, JPMorgan analyst Christyan Malek upgraded the entire global energy sector to an overweight rating, warning that the recent surge in oil prices could potentially drive Brent crude prices as high as $150 a… Continue Reading…

Business

“sony raises forecast on PlayStation gaming growth but profit drops 31% in first quarter”

“Sony on Wednesday reported a 31% fall in profit in the first fiscal quarter as its life insurance unit dragged on its bottom line, but the company raised full-year sales forecasts on the back of expected strength for its PlayStation gaming… Continue Reading…

Business, Economy

“Lowe’s reinforces wavering home improvement demand with forecast cuts”

“Lowe’s Cos Inc cut its annual sales and profit forecasts on Tuesday, joining larger rival Home Depot in highlighting waning demand for home improvement goods with sticky inflation forcing consumers to cut back on discretionary spending… Lowe’s expects full-year comparable… Continue Reading…

Business

“Home Depot posts worst revenue miss in about 20 years, lowers forecast as consumers delay big projects”

“Home Depot on Tuesday reported its biggest revenue miss in more than 20 years and lowered its forecast for this year, as consumers delay large projects and buy fewer big-ticket items like patio sets and grills… Home Depot said it now… Continue Reading…

Business, Stocks

“Shopify stock falls nearly 7% as forecast disappoints amid escalating Amazon rivalry, price increases”

“…In their forecast, Shopify executives guided for revenue to grow “in the high-teen percentages” in the fiscal first quarter, while not providing a forecast for any profit metric nor for the full year. Analysts on average were projecting first-quarter revenue… Continue Reading…

Business

“Kroger hikes forecast after stronger grocery sales top estimates”

“Kroger on Thursday raised its forecast for the year after stronger third-quarter sales topped Wall Street expectations and inflation continued to push up the prices shoppers pay for milk, eggs and other groceries… Here’s what Kroger reported for the three-month period… Continue Reading…